The Latin America, Middle East and Africa Power Rental Systems Market would witness market growth of 9.7% CAGR during the forecast period (2020-2026). Power rental means providing the facility of temporary renting generators or power plants for the supply of energy to industrial units. It supplies functioning power equipment coupled with numerous scalable components that are set up in power stations. It offers flexibility, reliability, speed, and cost-effectiveness to businesses for managing the brief shortages of power. The power rental services are intended to alleviate utility power grids and deliver additional energy to industries and it also supports the communities. Due to this, it finds widespread application in the mining, construction, and oil & gas industries.
Peak saving is a method that is able to cut power bills by restrictive the electricity consumption in peak hours since power rates are costly. Power rental systems help in decreasing the electricity demand during seasonal hours that are supporting to reduce the power billing costs. The central goal of the peak shaving application is to escape the requirement of permanent installation to source out the peaks having higher load capacities. Industrial and commercial clients use peak shaving in order to save utility bills by decreasing the peak demand. Power demand surges during summer and winter seasons in the peak hours. Therefore, the demand peak shaving power rental system is anticipated to increase with increasing awareness to control penalized power bills.
Power rental systems are increasingly finding uses in the construction, oil and gas, and mining sectors. These sectors usually require a continuous supply of electricity because they are far away from the power grid areas. Some of the renewable and hydroelectric power plants also need an additional backup power solution. Telecommunication centers, offices, and hospitals need to have UPS, consequently driving the growth of the continuous power application segment.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Power Rental Systems Market in LAMEA is expected to register a CAGR of 9.7% 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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