North America Power Rental Systems Market By Application (Continuous Power, Peak Shaving and Standby Power), By End User (Government & Utilities, Construction, Event Management, Oil & Gas, Industrial and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The North America Power Rental Systems Market would witness market growth of 8.2% CAGR during the forecast period (2020-2026). The increasing demand for constant power supply coupled with rapid industrialization all across the globe is some of the major factors that are driving the growth of the market. The growing instances of unpredictable power supply produced through small-scale power grids and also there is limited access to the key transmission network has boosted the demand for rental generators in the utility and manufacturing industries. Moreover, there is an increasing requirement for accessible rental equipment that can be helpful in overcoming the problems that are associated with swells & voltage sags, and power outages.
In addition to it, increasing awareness about the benefits of outsourcing power equipment is having a positive impact on the market. Power rental systems allow consumers to acquire equipment as per their requirements in a profitable manner. Furthermore, the execution of favorable government initiatives in order to expand metro and airport networks, coupled with the manufacturing of hotels and shopping malls, and this will increase the demand for power rental all across the developed and developing nations. Other factors such as the adoption of natural gas-based power generators and the surge in the deployment of renewables as a substitute for the power source to decrease carbon emissions are likely to drive the market further.
The power rental system finds its application in a range of industries that requires continuous power. Major end-use industries for power rental systems are government, oil & gas, and construction. Similarly, there is a necessity for constant power in events, where these systems find enormous demand. These systems are reliable, cost-effective, and flexible, which additionally strengthens the demand for power rental systems. These Systems are the speedy, reliable, cost-effective, & flexible services used across the globe where the demand for power is high. The power rental systems are used to deal with the demand for power in numerous industries. Increasing demand for power due to rapid industrialization & urbanization. More recurrent shortage of power & insufficiency in the infrastructure that is related to power generation. Consequently, the Power Rental Systems Market is estimated to grow and has remarkable scope during the foreseeable period.
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 U.S., Mexico, Canada, and Rest of North America.
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.
Scope of the North America Power Rental Systems Market Analysis
- Continuous Power
- Peak Shaving
- Standby Power
- Government & Utilities
- Event Management
- Oil & Gas
- Rest of North America
- 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
- Kohler Co.
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