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Power Rental Market: Technological Advancement & Growth Analysis with Forecast to 2025

Author : Rahul Sankrityayan | Published Date : 2019-10-11 

Power Rental Market Report focuses on the major drivers and restraints for the key players. These Research Report also provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The Power Rental Market Research Report is a professional and in-depth study on the current state of Power Rental Market.

Global Power Rental Market size is anticipated to witness robust growth owing to growing electricity demand subject to frequent power outages and grid failure. According to a report by the Department of Energy (DOE), the U.S. electric grid loses 285% more power than in 1984. The number of power outages have risen from 76 in 2007 to 307 in 2011.

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Increasing exploration and production of crude oil in deep and ultra-deep sea beds will influence the industry size across the globe. These events are taking place across the off grid remote areas which is substantially raising the demand for power rental market. In 2014, Aggreko had provided critical electricity generation systems for projects operating isolated parts of the African continent.

Stringent regulations tied with rising environmental awareness may hinder the global power rental market growth. Accelerating pressure to use eco-friendly technologies to produce power and limited differentiation of product are raising concerns for diesel generators which will hamper the business outlook.

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Oil & gas, construction, utilities, mining, manufacture and shipping are some of the segments of the global power rental market based on end-users. Oil & gas holds the dominating share owing to limited grid connectivity to meet electricity requirements across oil & gas fields. Construction has a substantial growth subjected to ongoing industrialization and urbanization around the globe. Shipping has a significant growth due to requirement of electricity on dockyards for various tasks.

Based on application the global power rental market is segmented into base load, peak shaving and standby. Base load is expected to grow significantly due to growing applications in various industries including construction, oil & gas and mining. Peak shaving holds the dominant position due to rising awareness among industries to control high demand charge during peak hours. Standby has a moderate growth due to their limited application across the globe.

 About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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