Electricity is majorly supplied through the cables traveling underground or above the ground. This supply of power is limited only to the stable infrastructures with efficient distribution system integrated at every substation. But there are facilities, events, that aren’t connected to conventional electricity supply or the requirement is more than what is supplied. Power rental is termed as a power unit that delivers reliability, speed, flexibility, and cost-effectiveness through its efficient mechanism and that can power up the large power station and huge industrial applications. The machine contribute are generally the generators that can be either portable or stable. The capacity of the generators depends on the requirement and types of application.
Some of the prominent market players that hold a huge contribution in the global power rental market include Cummins Inc, Caterpillar Inc, Power Electrics, Atlas Copco, United Rental, and APR Energy Inc.
Drastically rising demand for power globally, growing expansion of power infrastructure and increasing industrialization is fostering the growth of the global power rental market. Furthermore, huge demand from oil and gas industry, developing nations, and hosting of huge expo and shows is presenting some new growth avenues in the global power rental market. As per the report, in 2015, the global power rental market was esteemed at over USD 56.4 billion and by 2021, is anticipated to reach above USD 94.6 billion, and between 2016 & 2021, is projected to grow at a CAGR of 9.0% and above.
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The global power rental market is broadly segmented based on the application this include peak shaving, base load, standby power, and continuous power. Moreover, the based on the end users the market segmented in the construction industry, oil and gas industry, industrial applications, and small-scale utilization.
Generator maker JCB Power Products got the largest export consignment of the year with a deal in the Middle East. The company named as Rental & Services procured more than 300 JCB generators in a deal that worth’s more than $11 million. Such giant order was witnessed for the first time by the JCB after its newly launched range of RS generators that intentionally crafted and manufactured in the United Kingdom for serving the global rental sector.
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