The market stands to achieve revenues worth USD 21,765.1 million by 2023 while expanding at a CAGR of 9.06% in the duration the forecast period. The power rental is defined as renting of generator sets for the power generation and that runs on gas, diesel, or any other fuel. They are used in various industrial and commercial applications. Shortage of power supply will ultimately increase in the use of power rental equipment. This will lead to the growth of this market. In India, the demand of electricity has always been more than the supply, which causes problems for many industries.

The increasing levels of industrial and commercial activities have spurred the expansion of the power rental market favourably. The shortage in power supply to complete certain operations is expected to motivate the market for power rentals increasingly in the coming years. Furthermore, the expansion of the construction, oil and gas sector is expected to create favourable prospects for market growth in the forecast period.

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Segmental Analysis

The segmentation of the power rental market is carried out on the basis of fuel type, application, end user and region.

On the basis of fuel type, the power rental market is carried out on the basis of gas, diesel, and others.

On the basis of application, the power rental market is segmented into stand by power, baseload, and peak shaving.

On the basis of the end user, the power rental market is segmented into utilities, oil & gas, manufacturing, mining, shipping, construction, and others.

The regions influencing the power rental market are Asia Pacific, Europe, North America and the rest of the world.

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Detailed Regional Analysis

The regions considered in the analysis of the power rental market are Asia Pacific, Europe, North America and the rest of the world.

The North American region is leading the power rental market globally. The North American region is in control of the major market portion with a market value of USD 3,773.9 million in 2016 alone. The aging grid infrastructure and natural disasters, which cause recurrent power outages and the growing demand industrial sector are boosting the growth of the power rental market in the region.

The AsiaPacific region was the next biggest market in 2016, assessed at USD 2,663.2 million in 2016, and is anticipated to develop at a CAGR of 8.98% throughout the forecast period.

Competitive Analysis

The significant companies in the power rental market globally are Caterpillar Inc. (U.S.), Aggreko Plc. (U.K.), Cummins, Inc. (U.S.), Speedy Hire Plc. (U.K.), BredenoordExploitatiemij B.V. (The Netherlands), Ashtead Group Plc. (U.K.), Herc Rentals Inc. (U.S.), United Rentals, Inc. (U.S.), APR Energy (U.S.), L.M. Generating Power Co. Ltd. Ltd (Canada) and others.

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