The rapidly developing economies in the world are driving need for constant supplies of power. This increasing need for power is being demanded by the continuous industrial growth, urbanization, and high living standards of the people. Power rental services play an important role in construction, quarrying, and mining industries. The global market was estimated to be $7,768 million in 2012 which is expected to grow over $21,600 million by 2019.
The global power rental market has witnessed a decent growth as a result of increasing demand for global energy, and the rise in the number of investments from service providers. The biggest markets for the global industry are the Middle East, Asia-Pacific, Latin America, and Africa. Insufficient power generation capacity of the power generation companies, especially in Africa is one of the key drivers for the power rental market. More than 60% of the world’s platinum resources, 50% of diamonds, and 21% of gold, are found in Africa. The region also supplies copper, steel, and aluminum. These mines are located at distant sites far from power access and without immediate connectivity. Inadequate access to a sufficient source of power or fluctuations in power supply distresses the operations of mining companies requiring rental power.
The challenges in the power rental industry include the regulatory issues, environmental issues, and geopolitical issues. Most of the fleet of generators operated by the service companies is aged as well as diesel-powered, which fall under the scrutiny of local and regional regulations. The new stringent tier 4 regulations in the U.S. are expected to have major impact demanding technologically advanced fleet of generators requiring a major turnaround in the American market.
The global power rental market is however expected to grow in the coming years due to strong increase in commercial, construction, and mining activities in the developing as well as developed countries. The Middle East is expected to have the largest market due to strong investments in the construction and utility sectors to develop model cities.
The power rental report provides a comprehensive brief on the global market. It provides market analysis, and estimates the market size of submarkets for the power rental market and applications by geography and end-use industries. The report also includes key insights on opportunity for the relevant stakeholders analyzing trends, opportunities, drivers, and inhibitors for the market, and also provides a deeper understanding of the competitive landscape with profiles of key players in the power rental including, Aggreko Plc (U.K.), Apr Energy Plc (U.S.), The Hertz Corporation (U.S.), and United Rentals (U.S.).