The recently released report from Research and Markets "Global Power Rental Market 2016-2020" forecasts the segment will see a compound annual growth rate of 4.92% during the period 2016-2020.
Commenting on the report, an analyst from the research team said, "Increase in use of gas generators for rental power will be a key trend for market growth. Environmental reforms and stringent government regulations to reduce emissions have led to new technology being developed where generators involve less fuel consumption while increasing the power output. A recent trend has been the shift to gas power generators. The use of gas produces cleaner power than diesel as it is more efficient, produces 30% fewer emissions and less noise than diesel generators. Gas is comparatively cleaner than other non-renewable fuels and is also relatively cheaper to operate than a diesel generator."
According to the report, one of the key drivers for market growth will be increasing demand for rental power. Urbanization and a growing population have created an increasing strain on power utilities to meet the power demand. Though governments of various countries have invested in building new power plants as long-term energy sources, shortage of power supply is preventing power companies from meeting the immediate demand. The surge in residential and commercial infrastructure development is resulting in peak-hour supply constraints. These factors have compelled power companies to rely on temporary power generation sources to cater to the growing power demand.
