Power Rental Market
(PRWEB) November 25, 2014
The global power rental market is primarily fuelled by increasing consumption of electricity worldwide. The rise in population and economies across the globe are propelling the electricity demand which in turn is leading to high growth in the overall power rental market. The growth is expected to grow rapidly in the next five years. According to the International Atomic Energy Agency (IAEA) the global electricity demand is expected to double by 2030.
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The power rental market offers reliable power solutions and proves to be beneficial during power outages/blackouts, breakdowns or during times of uninterrupted supply of power. High demand for power rental systems is driven by growing energy demand, increasing alternating power spikes, and increased grid instability coupled with growing number of planned and unplanned events.
Conventional power plants facing power outages and growing activities in fairs, festivals, and various other events require substantial and reliable power which is eventually bolstering growth and development in the global power rental systems market.
In order to provide a holistic picture of the overall power rental market, segmentations on the basis of end-use, prominent applications and geography are broadly discussed in the market research reports catered by Marketresearchreports.biz. The reports offered by Marketresearchreports.biz analyzes multiple aspects, existing and emerging trends in this market, factors that are likely to attribute growth towards power rental products, as well as discusses market data for all segments within the power rental market on a regional level. Regional data has been provided for Europe, North America, Asia Pacific, and Rest of the World (RoW).
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The reports also provide a comprehensive overview of the competitive landscape and leading market participants involved in the global power rental market. Aggreko plc was one of the most dominant players in 2012 and is expected to continue its dominance in the market in the next few years. Similarly, for more such information on the power rental market, browse through a wide selection of market reports on Marketresearchreports.biz.
Related Reports:
Offshore Rental Equipment Market: http://www.marketresearchreports.biz/analysis/229627
The Report Offshore Rental Equipment Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 - 2020 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz
The increasing demand of price competitive solutions in the offshore oil and gas industry has led the major service providing companies to invest in offshore rental equipment market. The increasing oil and gas prices have led to the need of optimizing the extraction of oil and gas from mature fields. Most of the equipments used in drilling sites are expensive, thus contractors tend to rent these equipments instead of buying them. Equipment renting provides significant savings and helps in managing the inventory in an efficient manner. The major exploration and production companies often maintain their own rental division or enter into agreements with key rental companies. The profitability margins of offshore exploration companies are susceptible to price variations in the crude oil market. Time and availability of capital is one the primary concerns for offshore oil and gas operating companies. As a result, operating companies often prefer renting equipments, which proves to be an instant solution with minimum capital exposure. The market for offshore rental equipment is expected to grow at a substantial rate owing to increasing exploration activities in offshore locations.
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Offshore rental equipment market is mainly driven by rising energy demand and increasing investment in deep offshore locations. The increasing tendency of drilling contractors to rent equipments rather than buying the equipments is huge factor acting in favour of the offshore rental market. In countries such as Norway and the U.K. the government has enforced certain safety parameters for exploration companies to operate in the offshore waters. The rental companies in this region offer equipments which are specifically designed keeping in mind the safety regulations of these countries. Several drilling companies usually demand customized equipments which tend to increase the capital costs of the rental companies. These capital expenditures and the heavy initial capital costs act as restraints for the growth of the market.
Power Rental Market: http://www.marketresearchreports.biz/analysis/165080
The Report Power Rental Market - Global Industry Analysis, Market Share, Size, Growth, Trends and Forecast, 2012 - 2018 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz
Many companies that deal in a wide variety of industries are using power rentals to fulfiThe Report Power Rental Market - Global Industry Analysis, Market Share, Size, Growth, Trends and Forecast, 2012 - 2018 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.bizll their temporary power requirements. These companies hire a wide range of power equipment and power services from rental companies to fulfill their power needs without investing huge amounts for such equipment and services. This helps these companies in reducing their overall cost of initial investment and saves them from making long term investments.
Many companies are now coming forward to supply power on rent, thereby increasing the quality of service in power rentals, which is ultimately enhancing the confidence of buyers in purchasing energy on rent. Power rentals also help buyers in arranging their specific power equipment at a faster rate and at a very competitive price compared to purchasing the power equipment.
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Due to the significant shortage of power supply in developing regions and due to the lack of infrastructure and grid stability, companies are choosing power rental based solutions. Many companies have at present very old distribution grids which need to be changed and this also provides an opportunity for power rentals to replace these old distribution grids, thereby increasing its market share.
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