Although a non-core requirement, temporary power is essential and rentals offer companies the option of not investing in expensive back-up equipment.
The global power rental market was valued at USD 7.28 billion in 2012 and is expected to reach 20.64 billion in 2019, growing at a CAGR of 16.2% from 2013 to 2019.
Growing energy demand and increased grid instability is one of the key factors attributed to power rental market growth. Furthermore, increasing alternating power spikes coupled with rising number of planned and unplanned events are expected to augment market growth.
Rising awareness amongst energy intensive industries to curtail growing energy demand during peak hours is likely to bolster the product demand.
Increasing end-user awareness of rental benefits such as availability of extra capital for core activities, reduced equipment obsolescence, better inventory control, elimination of maintenance, warehousing and disposal costs, and greater cost control is driving demand in different segments.
Growing demand arising in off grid regions is expected to generate new opportunities for the market owing to its convenient portability to remote off grid areas.
The Middle East and Africa (MEA) power rental market is estimated to reach USD 6.87 billion by 2019 while Asia Pacific market is expected to grow at a CAGR of 16.8% from 2013 to 2019.
Key Players:
Key players in this market are Aggreko plc, APR Energy LLC, Atlas Copco AB, and Energyst CAT Rental Power. Aggreko plc
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