Power rental systems are used during power failure or any outages to continue production process and related operations. Power rental systems are used in various industries where demand of continuous power supply is high. Major end-use segment for the global power rental systems market are government, oil and gas, construction, and industrial sector.
On the basis of end-use, the market is segmented into earplugs and earmuffs. government, oil & gas, construction, industrial, events, and others (Residential and telecommunications off grid areas). Government projects and offices are expected to account for highest CAGR over the forecast period. Oil & gas segment is the largest end-use industry of global power rental systems for consumption of power during peak hours, owing increasing oil and gas industries in especially in Middle East & Africa and Asia Pacific region.
On the basis of application, the market is segmented into continuous power, standby power systems, and peak shaving. Peak shaving is a technique used to reduce power bills by reducing power consumption during peak hours especially when electricity rates are high. Continuous power segment accounted for the highest CAGR during the forecast period, owing to increasing applications in mining, oil & gas, and construction industry which requires continuous power supply.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to advanced products development, and government initiative for emission control especially in the US. The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to stringent government regulations, increasing industrial application, and construction activities in developing countries such as India and China in the region. Inadequate power setup in, Philippines, Indonesia, and Vietnam is expected to fuel growth of the target market over the forecast period.
Key players operating in the global power rental systems market include APR Energy, LLC., Aggreko PLC, Atlas Copco AB, Cummins Inc., Bredenoord Exploitatiemij B.V., Kohler Co., Energyst B.V., HIMOINSA S.L., Altaaqa Global, and Pt Sumberdaya Sewatama.