Power Rental Systems Market Analysis Report By Application, By End User, By Region And Segment Forecasts From 2020 To 2027

Synopsis

The global power rental systems market was prized by USD 20.8 billion in 2019. It is estimated to witness a 5.8% CAGR from 2020 to 2027.

Drivers

Increasing utilization of electricity for industrialized and commercial purposes has created a difference between demand and supply, within the power market. This difference is, yet, extra noticeable throughout the peak hours for the power expenditure. This has delivered to the growth of power rental systems, which are capable of supplying temporary electricity on the occasion of the low down delivery of electrical power.

Moreover, the rising demand for the temporary resources of electricity supply at the times of fairs, festivals, and proceedings is estimated to increase the enlargement of the power rental systems market, during the near future. These power arrangements, furthermore, bring a peak shaving. This allows diverse businesses, to assign their load of power constantly, throughout peak and non-peak hours.

The plans, launched by the government authorities, are aiming to support the setting up of these rental systems through residential, industrial, and commercial applications. The power rental systems can furthermore be operating on-grid plus off-grid, dependent on their position over and above the function. The number of profits of the circulated energy creation above the usual resources of power creation is estimated to propel the market.

Effect of Covid-19

As a result of the sudden inception of worldwide issues together with the COVID-19 pandemic, particularly, the market has been influenced by the presented improvements. Growing environmental concerns are about to restrain the expansion of the international market for power rental systems, during the estimated timeline.

End-User Insight

The government & utility sector detained the major, 25.4% share of the power rental systems market, in 2019. The practice of power rental systems assists these businesses to share out power loads amid non-peak and peak hours, by this means significantly dropping the expenditure of electrical power.

The oil & gas sector is estimated to enlarge by 6.0% CAGR, during the forecast period, because it is one of the biggest global customers of power. The practice of power rental systems helps businesses to assign power loads periodically amid peak and non-peak hours, by this means considerably dropping the expenditure of electric power.

Besides, the rising oil & gas manufacturing in the Middle East as well as the Asia Pacific, together with the difference between supply and demand in the power division, is expected to increase the expansion of the sector.

Industrialized enlargement in budding nations of the Asia Pacific region, mainly in China and India, is expected to increase the demand for power rental systems, within the industrial segment, which finally impels the market.

The main companies have shifted their manufacturing plants to the Asia Pacific and Middle East & Africa regions. This has, considerably, augmented their power demand, causing a difference between demand and supply. Moreover, the construction division has appeared like the most important end-user of the power rental units, due to the constant demand for excessive power.

Application Insight

The continuous power application division detained the principal, 46.1% share of the power rental system market, in 2019. It is expected to develop by a major percentage, for the duration of the forecast.

Power rental systems are gradually discovering functions in the mining, oil & gas and construction, sectors. Normally, these sectors necessitate a steady delivery of electricity because they are far away from the areas of the power network.

Some of the hydroelectric and renewable power plants, moreover, necessitate an attached power backing resolution. Hospitals, telecommunication centers, and government offices need UPS, consequently powering the enlargement of the continuous power application division.

The peak shaving application sector is anticipated to increase by 6.4% CAGR, during the forecast period. The technique of peak shaving is to slash power bills, using restraining the consumption of electricity for the period of peak hours; because of expensive power rates. Power rental systems help in decreasing the demand for electricity on the occasion of cyclic hours. This is encouraging to decrease the expenses on power billing.

In a contrast to the operational power form, standby mode uses equal to 25.0% electricity. The increasing data centers, IT industry, plus the increased utilize of electrical appliances, usually which are work in standby mode, are expected to push the standby power application sector, during the forecast period.

However, a variety of rules implemented by the EPA and Greenpeace are expected to restrain the utilization of standby mode electricity, by this means holding back the demand for rental power systems.

Regional Insight

In 2019, Asia Pacific retained the major, 35.5% share of the global power rental systems market. Due to the increasing alertness regarding utilization of electricity, through developing nations, along with industrialized use in the nations like India and China, the province is expected to develop at a momentous speed, during the forecast period.

The Asia Pacific market is expected to observe, greater possible enlargement, during the near future due to the declining ownership need for the power generation arrangements plus the growing demand for the incessant use of power from the construction and service division.

In terms of revenue, the market is likely to expand, considerably, within the regions such as North America; it is followed by Europe, due to the increasing demand for power rental systems, through the end-user sectors in several nations, within these provinces.

The market in the Middle East and Africa province is estimated to observe considerable expansion, during near future, because of its combined order for power rental systems in the various sectors such as industrialized, oil & gas and construction, from the nations like UAE, Saudi Arabia, Iraq, and Qatar. In 2019, the market in the Middle East & Africa was prized at USD 1,286.5 million.

The need for a reliable supply of power from the network, primarily to islands, where demand for the power has considerably increased during a year, is expected to maintain the constructive projections of the market. The infrastructure for power distribution, within the nations like Vietnam, the Philippines, and Indonesia, is estimated to maintain the demand for the product, during the upcoming time.

One of the pioneers of the market in North America. The province is likely to observe major expansion, during the nearby future, because of the increasing awareness between the end-users about the benefits of rental, for example, the convenience of extra funds for fundamental actions and reduced obsolescence of the equipment. On the other hand, adverse financial conditions together with established conditions of the regional market are likely to obstruct the expansion of the power rental business.

Companies

The main five companies held more than 50.0% share of the market, in 2019. The presentation of custom-made products, by the client stipulation, is a strong movement within the industry. Several market contestants are trying to achieve and retain the share of the market, by way of the long-standing joint venture and tactical association.

Renowned companies are concentrating on increasing their variety of products and are presenting an attractive variety of power rental systems, to increase a reasonable advantage in the market. These contestants of the market have accepted several natural and inorganic development plans, intended for increasing their attendance in diverse nations.

Some of the companies for the power rental systems market are:

    • Altaaqa Global
    • Bredenoord
    • Hertz System, Inc.
    • Atlas Copco AB
    • Cummins Inc.
    • Caterpillar
    • Herc Rentals Inc.
    • HIMOINSA
    • Kohler Co.
    • Al Faris
    • Ashtead Group plc
    • United Rentals, Inc.
    • APR Energy
    • Aggreko

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. A million Insights has segmented the global power rental systems market report based on end-user, application, and region:

• End-user Outlook (Revenue, USD Million, 2016 - 2027)
    • Government & Utilities
    • Oil & Gas
    • Construction
    • Industrial
    • Event Management
    • Others

• Application Outlook (Revenue, USD Million, 2016 - 2027)
    • Peak Shaving
    • Continuous Power
    • Standby Power

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • Russia
        • The U.K.
        • France
    • The Asia Pacific
        • China
        • India
        • Japan
        • Australia
    • Central & South America
        • Brazil
        • Argentina
    • The Middle East & Africa
        • UAE
        • Qatar