Research and Markets announces in its "Power Rental Market by End User, by Application, Type of Generator, Power Rating, & Region - Global Trends & Forecasts to 2020" report that the global power rental market is estimated to be valued at $10.4 Billion in 2014.
The increasing demand for energy and rapidly growing economies in developing countries across the world are driving the power rental market. Ageing power infrastructure is also a major driving force of this market. Power rental equipment is used in many sectors, including utility, oil & gas, industrial, construction, and events.
In terms of end-user segments, utilities, oil & gas, industrial, construction, and quarrying & mining are the largest markets for power rental. Majority of the power rental market is captured by the utilities industry, which accounted for approximately 35% of the total share. The oil & gas industry held the second largest market share.
North America held the largest market share of 20%, followed by the Middle East and Asia-Pacific. Growth in power demand and capacity expansion plans by power rental companies are the key market drivers. In addition, replacing ageing distribution grids and high demand for power in developing countries will act as growth catalysts for the market.
