The power generation rental market is growing at a compounded annual growth rate of 15.1 percent from 2014 to 2019, according to a study from reportsnreports. The Middle East region is the fastest-growing power rental market, the report says, with other regions growing well also but at a lower CAGR.
The report also tracks the recent strategic activities of market players such as new product launches, expansions, agreements, and mergers and acquisitions. According to the report, the leading players are Aggreko plc, Apr Energy plc, Ashtead Group (owner of Sunbelt Rentals), Atlas Copco, Bredenoord Exploitatiemij B.V., Caterpillar, Cummins, Speedy Hire plc, Hertz and United Rentals.
The top four players in the power rental industry held a market share of about 60 percent, the report says. It adds, however, that the market remains fragmented with numerous regional players in the power rental market.
Drivers for the growing power rental market include the growing demand for power, lack of grid stability and support, events (unforeseen and planned), the growing trend in favor or rental rather than buying equipment, and insufficient generation capacities, especially in African countries. The report estimates the market value of power rental in terms of revenue. In terms of geography, the report is segmented into Asia-Pacific, the Middle East, Europe, North America, Latin America and Africa.
The divides the market on the basis of end-use, application and generator types. With a large market potential for utilities, construction, and oil-and-gas industry growing projects, the market is likely to witness strong growth in the coming years, the report says.
The report can be ordered at: http://www.reportsnreports.com/purchase.aspx?name=183582.