The report "Power Rental Market by Fuel (Diesel, Gas, Dual Fuel & HFO), Power Rating, End Users (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping), Application (Peak Shaving, Base Load, Stand by), by Region - Global Forecasts to 2022", The power rental market is expected to grow from an estimated USD 13.73 Billion in 2017 to a projected USD 20.64 Billion by 2022, at a CAGR of 8.49%, from 2017 to 2022. The significant growth in the global market is driven by increasing power demand, a lack of power infrastructure, and the revamping of old transmission and distribution (T&D) infrastructure.
The leading players in the power rental market include Caterpillar, Inc. (U.S.), Aggreko, PLC (U.K.), Cummins, Inc. (U.S.), United Rentals, Inc. (U.S.), and APR Energy, PLC (U.S.). Contracts & agreements was the most commonly adopted strategy by the top players. This was followed by new product developments, expansions and investments, and mergers & acquisitions.
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Scope of the Report:
• By Application
o Peak Shaving
o Standby Power
o Base Load/Continuous Power
• By End-Users
o Utilities
o Oil & Gas
o Events
o Construction
o Mining
o Manufacturing
o Shipping
o Others
• By Fuel Type
o Diesel Generators
o Gas Generators
o Others
• By Power Rating
o Up to 50 kW Power Rating
o 51 kW–500 kW Power Rating
o 501 kW–2,500 kW Power Rating
o Above 2,500 kW Power Rating
• By Region
o North America
o Europe
o Asia-Pacific
o South America
o Middle East
o Africa
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Utilities: The largest power rental market, by end-user
The power rental market in this report has been classified, based on end-user, into utilities, oil & gas, mining, construction, manufacturing, events, shipping, and others. The utilities segment is expected to account for the largest market size, in terms of value, in 2017. Utilities include power plants that are owned and operated by multiple utility companies or by governments. Utility providers, with the help of distribution lines, deliver energy from power plants to homes and businesses across various countries. Permanent power plants typically require large capital investments. The demand for reliable economic power has led to the need to operate these systems at full capacity and at lower costs, worldwide.
The North American market is expected to lead the power rental market during the forecast period. There is a significant increase in the demand for electricity in North America and the power sector in the region is facing challenges such as meeting energy efficiency targets and adhering to federal carbon policies. The macroeconomic factors influencing the power rental market in North America include an increase in infrastructure development and the demand for power from the utilities, oil & gas, industrial, construction, and mining sectors, the use of energy equipment, and growing end-user awareness of rental benefits. The power rental market in North America is competitive with players such as Cummins, Inc., Caterpillar, Inc., and United Rentals, Inc. headquartered in the region.
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“The gas generators segment is expected to dominate the power rental market, by fuel type”
The gas generators segment is estimated to be the fastest growing power rental market, by fuel type, in 2017. Gas generators run mainly on natural gas and can be found in different sizes, ranging from portable to industrial. They are more efficient and cleaner than diesel generators, thus, helping reduce greenhouse gas emissions. They are mostly used for light duty applications, such as supplying electricity for residential purposes.
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