With the increase in global population, the demand for power is also increasing, which forces governments to provide permanent power solutions to the people. Developing permanent power solutions require huge investments and time. Also, developing countries with rapid growing economies face a shortage of electricity supply due to lack of permanent power capacity. Hence, increasing power demand and lack of grid stability boosts the rental market in industries like utilities, oil & gas, and industrial sectors.
The utilities sector delivers energy from power plants to homes and businesses across the country using distribution lines. Utilities are owned and operated by utility companies or government. Large investments are required to provide permanent power solutions and also local grids located lack reliable supply mainly due to poor or lack of transmission network in developing countries. To overcome generation capacity constraints during seasonal periods of increased demands, temporary power solutions are often required in addition to the grid.
Browse through the market data tables, figures and detailed ToC on the “Utilities - Power Rental Market.”
Oil and gas - Power Rental Market-
The oil industry is one of the vital industries with various commodity prices depending on the price of oil. The oil industry, through its oil production, accounts for a large amount of the consumption of energy. This industry can be segmented into upstream and downstream. Generators play a vital role in this industry. But in case of any disaster or failure in power supply, temporary power needs to be provided to this industry; hence the rental industry plays an important role as they provide reliable support for the proper functioning of operations in the oil industry.
Industrial - Power Rental Market-
The industrial sector mainly comprises the manufacturing and service industry. Manufacturing industries produce and process items and make new commodities or add value to the end-user industry. In developed countries, manufacturing industries have a major share. The gross domestic product is the most significant factor by which industrial output is measured. Rental power is mainly required for various applications, such as power peak shaving applications to maintain production levels, for turnarounds and shutting, and also in case of backup and periodic peak shaving.
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