The Asia Pacific Power Rental Systems Market would witness market growth of 9.3% CAGR during the forecast period (2020-2026). The power rental is basically renting of generator sets in order to generate power. These generators run on diesel, gas, or any other fuel. They find their application in numerous industrial and commercial. The dearth of power supply will eventually lead to an increase in the use of power rental equipment. This will result in the growth of this market. In counties like India, the demand for electricity has constantly been more than that of the supply and this causes problems for several industries.
To increase the expansion of power supply, the Indian government has created many corporations like NTPC Limited, State Electricity Boards (SEB), and NHPC limited. Even after these developments, the issue of shortage of power supply has not been solved in the country. Hence there is the increased use of power rental equipment. In addition to it, many countries considering developing their infrastructure, and also ready to make heavy investments in order to boost infrastructural activities across the globe. This factor is positively impacting the growth of the market. Though, regulations of emission for diesel engines are another factor that may impede the growth of the market.
Renting is one of the popular phenomena in businesses due to the treatment of expenditure acquired on leasing as revenue expenditure and this is written off in a similar year. The properties that are possessed by the companies are remunerated in forthcoming years on the basis of statutory rules. Consequently, businesses use rental gensets as a tactical means depending on the prevailing situations.
Based on Application, the market is segmented into Continuous Power, Peak Shaving and Standby Power. Based on End User, the market is segmented into Government & Utilities, Construction, Event Management, Oil & Gas, Industrial and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Power Rental Systems Market in Asia Pacific is expected to register a CAGR of 9.3% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Caterpillar, Inc., Atlas Copco AB, Hertz Global Holdings, Inc., Ashtead Group PLC, Cummins, Inc., United Rentals, Inc., Herc Holdings, Inc. (Herc Rentals, Inc.), Aggreko PLC, AI Faris Group and Kohler Co.
Market Segmentation:
By Application
By End-User
By Country
Companies Profiled
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