30 Jul 2016 07:07:39
Preventive Measures to Address Industrial Power Outages will Provide Abundant Opportunities for Power Rental Market,reports TMR
Companies in a fragmented global power rental market, such as Aggreko, Caterpillar, APR Energy, Cummins Power, and Hertz, have prioritized acquisitions to remain relevant and competitive. The market features numerous large, medium and small sized companies, with the local players competing fiercely with top players, observes Transparency Market Research.
“Strategic acquisitions is one of the key growth models that top players in the global power rental market are focused on,” says the author of the report. For example, in December 2012, Sunbelt Rentals acquired JMR Industries, the latter being an energy rental specialist.
Investments in cutting edge technologies to develop innovative products is also what key players in this market are contending for. With innovative products, players in this market are driven for gaining a competitive edge. Contract-based alliances for transnational services is also a major expansion criterion that leading players in the power rental market are adopting.
Public Sporting Events to Hand Out Fresh Opportunities to Power Rental Companies
“The ever-increasing electricity demand that remains unfulfilled due to the grid instability of conventional grids is the prime factor driving the global power rental market,” says TMR analyst. The increasing grid insecurity leads to power outages, which in turn, halts industrial processes and daily operations.
The rising number of alternating power spikes and an increasing number of events are augmenting the growth of this market. The use of power rented units act as an alternative during complete shutdown of a power grid to circumvent blackouts. Large public events such as the Football World Cup and Olympic Games rely on power rental products to prevent power supply disruptions. Moreover, an increasing awareness among consumers about curtailing energy demand during peak hours is also augmenting the growth of the power rental market.
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“Increasing environmental concerns and limited product differentiation are major impediments to the growth of this market,” says TMR. The Environmental Protection Agency (EPA) has laid out stringent regulations regarding diesel power generators. Government regulatory agencies in several countries such as the U.S. take strict action against violation of harmful emission levels. The increasing focus on renewable energy and payment issues pertaining to power rental units in developing and underdeveloped nations is further challenging the growth of the power rental market.
Asia Pacific Represents Significant Market for Power Rental Systems
The global power rental market is expected to reach a valuation of US$20.64 bn by 2019. Continuous power dominates the application segment of the global power rental market. However, peak shaving is expected to emerge as a significant application segment displaying a CAGR of 16.8% between 2013 and 2019. The Middle East and Africa (MEA) held more than 31% of the market in 2012. In the MEA, Saudi Arabia will emerge as a significant market for power rental due to the expanding infrastructure, increasing construction undertakings, and the need to fulfill energy needs in remote areas. Asia Pacific is expected to display a significant growth rate in the power rental market due to surging industrialization and urbanization in this region.
The information presented in this review is based on the report, “Power Rental Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2019.”
Key segments of the Global Power Rental Market
Power Rental Market: Application Analysis
Power Rental Systems Market: End User Analysis
Government and Utilities
Oil, Gas and Mining
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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