Global power rental market was valued at USD 10.02 billion in 2014 and is expected to reach USD 20.30 billion by 2020, growing at a CAGR of over 13.0% during 2015 and 2020.
The report covers forecast and analysis for the power rental market on a global and regional level. The study provides historic data of 2014 along with a forecast for 2015 to 2020 based revenue (USD billion). The study includes drivers and restraints for the power rental market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the power rental market on a global level.
In order to give the users of this report a comprehensive view on the power rental market, we have included competitive landscape in the market and an analysis of Porter’s Five Forces model for the power rental market has also been included. The study encompasses a market attractiveness analysis, wherein end-user segments and application segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view on the power rental market by segmenting the market based on end-users, application, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2014 to 2020. Based on end-users the market is segmented into oil & gas, industrial, construction and others. Key applications market covered under this study includes peak shaving, base load/ continuous power and standby power. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India, and Brazil. This segmentation includes demand for power rental based on individual applications in all the regions and countries.
The report also includes detailed profiles of end players such as Atlas Copco, United Rental, Cummins Inc, APR Energy Inc, Caterpillar Inc, Power Electrics and Speedy Hire. The detailed description of players includes parameters such as company overview, financial overview, business strategies and recent developments of the company.
This report segments the global power rental market as follows:
Global Power Rental Market: End-Users Segment Analysis
Global Power Rental Market: Application Segment Analysis
Global Power Rental Market: Regional Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Power Rental market. Zion Research has collected and analyzed key data belong to the global Power Rental market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Power Rental across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Power Rental industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Power Rental market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Power rental is referred as plant hire, which provides machinery, power equipment, and tools of all kinds and sizes for a short and long period of time to final users. Power on rent can deliver complete operating power packages as well as provide scalable components within large power station installations to various industrial applications. An extensive fleet of industrial rental power covers a broad range of applications in coal-fired, natural gas-fired, nuclear and cogeneration plants. Power rental services offer a quick and cost-effective response to planned and emergency outages for a limited period of time.
The power rental market is mainly driven by increasing power consumption, development of power infrastructure, and increasing construction & development across the globe. Furthermore, increasing demand for power from oil & gas industry is also a major driving force of the power rental market. However, the presence of stringent regulations coupled with rising environmental awareness may curb the market growth in the near future. Nonetheless, increasing demand for power in emerging economies is expected to open up new growth avenues for the power rental market in the years to come.
The power rental market is segmented on the basis of different end-user such as oil & gas, industrial, construction, and others. The industrial segment accounted for a large chunk of the market share in 2014. Construction is another key outlet of power rental market and it held over 20% share of the overall market in 2014. This growth is mainly attributed to growing infrastructural development in the emerging economies.
Some of the key applications of the power rental market include peak shaving, base load/continuous power and standby power. Base load/continuous was largest application segment with 45.56% of the global revenue and is expected to show a significant rise in light of the increasing demand from various sectors such as oil & gas, mining and construction and others. These sectors require a continuous supply of power by renting power equipment as the operational activities of these sectors usually take place far off from the power grid which in turn is expected to drive the demand for the power rental market. Peak shaving is another leading application segment owing to rising awareness among energy-intensive industries in order to control the charged over high energy demand during peak hours. Standby power was accounted for over 20% share of the total market and is anticipated to show moderate growth in the years to come owing to various regulations implemented by EPA and Greenpeace which are expected to minimize standby power consumption.
The power rental market was dominated by the Middle East & Africa with the largest share of the total market in 2014. This growth is mainly due to the growing construction and developmental activities in this region. Furthermore, North America was another leading regional market 21.32% share of total revenue generated in 2014. With increased government support coupled with increasing infrastructure, Asia-Pacific is expected to witness significant growth during 2014 to 2020. However, Latin America is also expected to exhibit significant growth over the forecast period.
Some of the key players include in power rental market such as Atlas Copco, United Rental, Cummins Inc, APR Energy Inc, Caterpillar Inc and Power Electrics.