Global Standby Rental Power Market 2017-2021
About Standby Rental Power
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 that drives the growth of the global standby rental power market. A standby rental power system is a secondary electrical system that can automatically supply power when the grid power fails by utilizing resources available at the source.
Technavio’s analysts forecast the global standby rental power market to grow at a CAGR of 3.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global standby rental power market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Standby Rental Power Market 2017-2021
Technavio recognizes the following companies as the key players in the global standby rental power market: Aggreko, APR Energy, Atlas Copco, Energyst and United Rentals.
Other Prominent Vendors in the market are: Altaaqa Global, APac Energy Rental, Ashtead Group, Byrne, Cummins, Doosan, Hertz Equipment Rental, HIMOINSA, Kohler Power, Modern Hiring Service, Sumberdaya Sewatama, and Wacker Neuson.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing power purchase agreements. Constant power is a crucial necessity in oil and gas, industrial, and utility sectors. This is even more crucial in developing countries due to the growth of the industrial sector. Supplying power is the responsibility of the respective utility.”
According to the report, one driver in the market is growing power rental industry. The demand for rental power is expected to increase because of growing public infrastructure construction, increasing industrial base, and supply of power to remote areas. Globally, there has been a constant rise in power consumption.
Further, the report states that one challenge in the market is rise in distributed energy and battery storage. The increase in the instability of grids due to inadequate T&D infrastructure is causing massive power outage losses. Governments of many countries are focusing on producing cleaner energy and are encouraging the use of renewable energy sources.
Aggreko, APR Energy, Atlas Copco, Energyst, United Rentals, Altaaqa Global, APac Energy Rental, Ashtead Group, Byrne, Cummins, Doosan, Hertz Equipment Rental, HIMOINSA, Kohler Power, Modern Hiring Service, Sumberdaya Sewatama, and Wacker Neuson.