Power Rental Market Size Is to Hit US$ 13.76 Billion by 2028 : Global Industry Analysis, Investment Feasibility Study, Business Challenges and New Opportunities

The Power Rental market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis & more business insights.

Pune, Maharashtra — (SBWIRE) — 07/25/2022 — Power Rental Market Report Scope & Overview:

A power that is rented out for a specific period of time and is governed by a written or verbal agreement is referred to as a power rental. The ability to rent generators or power plants on a short-term basis to supply energy to industrial units is known as power rental. It provides existing power equipment in power plants as well as a variety of scalable components. Additionally, it gives organizations the dependability, adaptability, speed, and cost-effectiveness they need to handle momentary power outages. In order to meet their power needs, industries utilize short-term solutions like leasing or additional power provided by diesel generators.
As per the market research report by SNS Insider, the power rental market is projected to cross USD 13.76 billion by 2028, with a CAGR of 5.9% during the forecast period of 2022–2028.

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Drivers, Restraints, Opportunities, and Challenges

As power usage increases around the world, the power rental market is anticipated to expand significantly during the projected period. In the near future, it is anticipated that increased emphasis on building and development, advancements in the power grid, and increased power consumption will boost demand for power renting.

The development of the global power rental market is anticipated to be hampered by government agencies’ strict pollution regulations and the effects of oil price volatility on sectors that depend on oil. Additionally, the future expansion of this industry is anticipated to be further hampered by the rising focus on renewable energy.

Impact of the COVID-19 Pandemic

At a time when demand is high, COVID-19 has wreaked havoc on the global economy and the energy sector by upsetting supply networks. The global economy and healthcare industry are both impacted by the COVID-19 pandemic. Oil and gas production, nuclear power, renewable energy, manufacturing, and electricity generation have all seen significant economic effects. The power rental market was impacted by the Covid-19 outbreak and the ensuing recession.

Power Rental Market Segmentation analysis 2022

The generators segment accounts for a sizable market share in terms of equipment. The category is anticipated to rise as a result of the robust infrastructure expansion, rising necessity of power backup solutions, and increased awareness of disaster preparedness among end-users.

The utility segment has consistently produced the most revenue, both historically and going forward, based on end-user. Power plants that are operated and maintained by many utility firms and governmental organizations are included in the utilities section.

The application that contributed the most to overall revenue was continuous power, and it is also anticipated that its revenue will rise significantly over the course of the projected period. The expansion of this market is primarily driven to the rising demand from the mining, oil & gas, and construction industries.

Major Segments and Sub-Segment of Power Rental Market are Listed Below:

BY FUEL TYPE:
– Diesel
– Gas
– Others

BY EQUIPMENT:
-Generators
– Transformers
– Load Banks
– Others

BY APPLICATION:
– Base load/Continuous Power
– Standby power
– Peak shaving

BY END-USER:
– Oil & gas
– Utilities
– Shipping
– Manufacturing
– Mining
– Construction
– Other

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Regional Analysis of Power Rental Industry

The greatest market for power rentals is thought to be in North America, followed by Asia Pacific. Due to factors including rising investments in the mining, construction, and oil & gas industries, North America is anticipated to maintain its dominance over the power rental market during the forecast period. In addition, over the course of the projected period, there will be a rise in the investment in mining and associated exploratory activities in the region. MEA is anticipated to grow at the fastest rate, and this is because of the expanding demand for electricity from the building industry as well as the requirement to supply power to ageing power plants.

Additionally, the rise in infrastructure spending in nations like the Oman, United Arab Emirates, and Saudi Arabia is anticipated to further fuel demand for rented power in the area in the years to come. As a result, this market is anticipated to expand at the fastest rate over the course of the forecast period.

Frequently asked questions in this market report are:

– How much is the power rental market worth?
– What is the growth rate of global power rental market?
– Which are the driving factors of the power rental market?
– Who are the major players operating in the power rental market?
– Which region will lead the global power rental market?

Table of Contents – Major key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Global Power Rental Market Segmentation, By Fuel Type

9. Global Power Rental Market Segmentation, By Equipment

10. Global Power Rental Market Segmentation, By Application

11. Global Power Rental Market Segmentation, By End-User

12. Regional Analysis

13. Company Profiles

15. Competitive Landscape

16. Conclusion

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