Global Generator Rental Market for Oil and Gas Industry 2017-2021
About Generator Rental
Rental power is used to meet peak load demand, base load supply, or as a standby. The need to provide uninterrupted power is a major factor driving the growth of the power rental market. This is because using power rentals is more economical than maintaining a reserve plant, the demand for rental power has risen over time.
Technavio’s analysts forecast the global generator rental market for oil and gas industry to grow at a CAGR of 3.53% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global generator rental market for oil and gas industry for 2017-2021. To calculate the market size, the report considers the revenues that are generated from the renting of generators in the oil and gas market.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Generator Rental Market for Oil and Gas Industry 2017-2021
Technavio recognizes the following companies as the key players in the report title minus years: Aggreko, APR Energy, Atlas Copco, Energyst, and United Rentals.
Other Prominent Vendors in the market are: Altaaqa Global, Ashtead Group, Byrne Equipment Rental, Cummins Power, Doosan Portable Power, Hertz Equipment Rental, Kohler Power, Sumberdaya Sewatama, Himoinsa, APac Energy, and Modern Hiring Service.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increase in oil and gas upstream investments. The demand for oil and gas is expected remain strong in the future. Although renewables have been gaining interest, the global energy mix will be largely dominated by oil and gas in future. As the demand for oil field services depends on the expenditure by the oil and gas industry, the oil field services companies remain optimistic for the future.”
According to the report, one of the major drivers for this market is constant demand for oil and gas. The demand for oil and gas is increasing despite the decline in crude oil prices, especially in the case of gasoline. With increase in global oil and gas production and exploration, the global generator rental market for the oil and gas industry will grow as per the increase in production. The growth in demand and continued production of oil and gas should drive large investments in technology.
Further, the report states that one of the major factors hindering the growth of this market is increase in alternate energy source. Climatic changes, uncertainty in oil prices, and the need for sustainable energy have increased the focus on alternative energy sources globally. The gradual increase in renewable investments by the governments could have an adverse impact on oil field services (OFS). As this would lead to reduction in demand, combined with the higher cost of production will result in many OFS companies to shut down.
Aggreko, APR Energy, Atlas Copco, Energyst, United Rentals, Altaaqa Global, Ashtead Group, Byrne Equipment Rental, Cummins Power, Doosan Portable Power, Hertz Equipment Rental, Kohler Power, Sumberdaya Sewatama, Himoinsa, APac Energy, and Modern Hiring Service.
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