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Global Power Rental Market to Generate Revenue of $16.71 Billion by 2028 | Zion Market Research

Power Rental Market

Power Rental Market

Power Rental Market in Size 2022 | Technological Trends with SWOT Analysis, Growth by New Techniques & In-depth Insights by Top Key Players till 2028

Power Rental Market accrued earnings worth approximately 9.79 (USD Billion) in 2021 and is set to record a CAGR of nearly 7.8% over the period from 2022 to 2028”
— Prakash Torase

SUITE N202, NEW YORK, UNITED STATES, December 8, 2022 /EINPresswire.com/ -- According to Zion Market Research study, Power Rental market accrued ROI of approximately around US$ 9.79 billion in 2021 and is expected to gain income of almost US$ 16.71 billion in 2028. Apparently, Power Rental industry is set to register humungous gains of nearly 7.8% in time interval of 2022 to 2028. Moreover, growth of power rental market over forecasting timespan is subject to rise in demand for power in mining activities. In addition to this, rise in faults in power transmission lines along with high rate of failure of power producing devices has resulted in humungous need for hiring services of firms in power rental business. Furthermore, unexpected power outages and blackouts have resulted in requirement of reliable power backup in commercial buildings and industrial complexes in emerging economies. This has triggered growth of power rental industry in recent years. Escalating demand for incessant supply of electricity in industrial sector will embellish expansion of power rental industry over ensuing years.

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Expansion of diesel segment over forecasting timeline is subject to rise in installation of diesel-fueled units across globe. Moreover, ability of diesel-fueled units in providing weather-independent, flexible, and scalable operations has made most preferred fuel across globe. Furthermore, low upfront costs of diesel will propel surge in size of power rental industry. In addition to this, diesel improves performance of engine and increases operational efficiency, thereby proliferating revenue of power rental market.

Continuous Load Segment To Lead Application Landscape In 2022-2028

The segmental dominance in coming years can be attributed to rise in utilization of power rental systems in oil & gas, mining, and construction sectors. Furthermore, consistent power supply has accounted majorly towards growth of power rental market.

Utilities Segment To Account Majorly Towards Power Rental Market Share By 2028

Segmental growth over upcoming years can be attributed to massive use of utilities connected through a grid for developing a distribution network for power supply.

North American Power Rental Market To Expand Assiduously Over Forecast Period

Growth of regional market over forecast timeframe can be credited to rise in funding of mining, oil & gas, and construction sectors. In addition to this, surge in oil & gas exploration activities in sub-continent will contribute sizably towards regional market growth.

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Few of the key participants have strongly dominated growth of power rental market and this trend is likely to remain even in upcoming years. They include Kohler-SDMO, APR Energy Limited, Atlas Copco, NIDS GROUP, United Rentals, Inc., Power Electrics, Shenton Group, Cummins Inc., ProPower Rental, Caterpillar Inc., and Speedy Hire plc.

Global Power Rental Market: Dynamics

Increasing demand for uninterrupted power supply and rapid industrialization across the globe are key factors driving the global power rental market growth. Rising number of occurrences of inadequate power supply created by small-scale power grids and restricted access to the main transmission network is boosting demand for power rental services in utility and manufacturing industries. Demand for power rental services is projected to remain substantially high from mining and oil and gas industries. In addition, integration of power generators with intelligent sensors allows control over power supply and offers accurate information of the amount of energy used. Aging of power infrastructure requiring constant maintenance is another factor propelling growth of the global power rental market.

However, strict regulations imposed by countries to reduce harmful emissions act as a restraint to the global power rental market, as power generators are primarily operated on fuels that emit volatile organic compounds (VOCs).

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The global Power Rental Market is segmented as follows:

By Power Rating

Below 75kVA
75-375 kVA
375-750 kVA
Above 750 kVA
By Fuel Type

Diesel
Gas
Others
By End-User

Mining
Utility
Construction
Manufacturing
Oil & Gas
By Application

Continuous Load
Peak Load
Standby Load
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

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Prakash Torase
zion market research
+ + +1 855-465-4651
sales@zionmarketresearch.com

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