Power Rental Market in Americas 2017-2021
About Power Rental
Rental power is used to meet peak load demands, base load supply, or is used as a standby. The need to provide uninterrupted power is a major factor driving the growth of the power rental market; as using power rentals is more economical than maintaining a reserve plant, the demand for rental power has risen over time. Power rental equipment provides essential support to businesses and consumers during power outages. Diesel and gas generators are common forms of this equipment. It can also be used as a base load or as a standby application, depending on industry needs.
Technavio’s analysts forecast the power rental market in Americas to grow at a CAGR of 3.40% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the power rental market in Americas 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.
Technavio's report, Power Rental Market in Americas 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Power Rental Market in Americas 2017-2021
Technavio recognizes the following companies as the key players in the power rental market in Americas: Aggreko, APR Energy, Atlas Copco, Energyst, and United Rentals.
Other Prominent Vendors in the market are: Cummins, Doosan Portable Power, Generac Power Systems, Herc Rentals, HIMOINSA, JCB, Kohler, Multiquip, Sunbelt Rentals, and Wacker Neuson.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increase in use of gas generators for rental power. Environmental reforms and stringent government regulations to reduce emissions have led to new technology being developed for generators, which involves less fuel consumption while increasing the power output. A recent trend has been the shift to gas power generators. The use of gas produces cleaner power than diesel; it is more efficient, results in 30% fewer emissions, and generates less noise than diesel generators.”
According to the report, one driver in market is increasing need for backup power. Natural calamities, such as earthquakes, storms, hurricanes, and tornados, annihilate the power transmission and distribution infrastructure, clearly revealing the vulnerabilities of the utility grid. Natural calamities, whether big or small, have the capability to cause grid failures, leading to power cuts for millions of people as well as for the commercial and industrial sectors. Power cuts can extend up to a few days to weeks before the power is completely restored. The destruction caused by natural calamities to the power grid has emphasized the need for an alternative backup solution that will ensure continuous electric power supply. In the US, after the 9/11 attacks in 2001 and hurricane Katrina in 2005, the criticality of the country's communication system became clear, following which the Federal Communication Commission mandated that all critical communication systems in the country should be intact and able to operate even during a disaster or crisis. This has resulted in companies investing in rental power generators as a backup solution in the event of a planned outage by the utility or an unplanned outage.
Further, the report states that one challenges in market is rise in distributed energy and microgrids to improve grid flexibility. The increase in the instability of the grid owing to inadequate transmission and distribution infrastructure is causing massive losses due to power outages. The governments of many countries are focusing on producing cleaner energy and are encouraging the use of renewable energy sources. Distribution generation refers to small-scale electricity generation using generators or renewables at the point of consumption. Distributed energy systems, such as solar photovoltaics (PVs), are gaining popularity due to the reduction in cost and lower emission benefits that they provide, leading to government support for such systems.
Aggreko, APR Energy, Atlas Copco, Energyst, United Rentals, Cummins, Doosan Portable Power, Generac Power Systems, Herc Rentals, HIMOINSA, JCB, Kohler, Multiquip, Sunbelt Rentals, and Wacker Neuson.