Power Rental Accessories Market Size, Share, Demand and Forecast to 2021

Market Research Analysts forecast global power rental accessories market to grow at a CAGR of 3.18% during the period 2017-2021.

According to the report, one driver in market is growing demand from utility and industrial sectors. The need for temporary power supply across utilities and industrial sectors is increasing because of the demand-supply gap in electricity. Though the governments of various countries are commissioning new power plants to meet the growing demand, shortfalls persist in the short run as constructing a power plant would require 3-5 years, depending on its capacity. In addition, delays in power plant completion due to lack of investment will extend the construction period. However, many industries require a constant power supply to achieve optimum operational capacity and avoid financial losses due to outages. Apart from facing financial losses, continuous industrial development is required for sustaining the economic development of the country. This has resulted in utilities and industries resorting to the use of rental power where grid power is unstable for backup or in situations where grid power is not available. 

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Further, the report states that one challenge in market is slow growth in oil and gas industry. Earlier, power rental companies benefitted from increased onshore and offshore oil and gas exploration and production. However, the plunge in global oil and gas prices, which have fallen by almost 40%-50% in the last two years (201-2016) limits the confidence of new investors in the industry, posing a serious challenge to power rental companies. The rig count acts as a barometer for the oil and gas drilling industry and its suppliers worldwide. There has been an almost 35% drop in the rig count between 2014-2015. This is an indicator of the weak demand for the equipment used by the oil and gas industry. Therefore, lower oil prices and reduction in activities means lower equipment rentals, which is a challenge for the growth of the rental accessories industry.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

About Power Rental Accessories

Rental power is used to meet peak load demand, base load supply, or as a standby. The need to provide uninterrupted power is a major factor driving the growth of the global power rental accessories market. Power rentals are more economical than maintaining a reserve plant. Thus, this factor has increased the demand for rental power over time.

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Covered in this report 

The report covers the present scenario and the growth prospects of the global power rental accessories market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of haircare products to individual consumers and salons.

The market is divided into the following segments based on geography: 
Americas
APAC EMEA

Technavio’s report, Global Power Rental Accessories Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. 

Key vendors 
Aggreko
Atlas Copco
Caterpillar
Energyst
Sunbelt Rentals

Other prominent vendors 
Altaaqa Global
APac Energy Rental
APR Energy
Ashtead Group 
BPC Power Rentals
Byrne Equipment Rental
Crestchic
Cummins Power Generation
Herc Rentals
HIMOINSA
Kohler
Red-D-Arc
PT Sumberdaya Sewatama
United Rentals

Market driver 
Growing demand from utility and industrial sectors.
For a full, detailed list, view our report 

Market challenge 
Increasing use of off-grid power systems.
For a full, detailed list, view our report 

Market trend 
Rising demand from Southeast Asian countries.
For a full, detailed list, view our report 

Key questions answered in this report 
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors? 

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Source: https://marketreportscenter.com/reports/494147/global-power-rental-accessories-market-2017-2021