POWER RENTAL SYSTEMS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Name: Power Rental Systems Market Challenges and Opportunities
Creator: Coherent Market Insights
License: https://www.coherentmarketinsights.com/privacy-policy
Keywords: Power Rental Systems Market Size, Power Rental Systems Market Share, Power Rental Systems Market Trends, Power Rental Systems Market Growth, Power Rental Systems Market Analysis, Power Rental Systems Market Forecast, Power Rental Systems Market Report, Power Rental Systems Industry Report

Power Rental Systems Market, By End-user Industry (Oil & Gas, Government and Utilities, Construction, Industrial, Others), By Application (Peak Shaving, Continuous Power, Standby), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Dec 2024
Code : CMI7646
Pages :120
Formats :
Excel and PDF
Industry : Information and Communication Technology

The power rental systems market is expected to experience steady growth in the coming years. The market is driven by growing construction and infrastructure activities globally. Rising energy consumption from industrialization will also bolster the demand for power rental systems. Additionally, increasing frequency of power outages due to aging electrical grids has raised reliance on temporary power backup. This would propel the sales of generators and attendant power rental equipment.
However, stringent emissions norms along with the increasing availability of used and refurbished diesel generators are expected to somewhat impede the market expansion. Further, rising adoption of decentralized renewable energy systems poses a challenge. The power rental industry will need to focus on developing fuel-flexible and hybrid generator sets to capitalize on growing preference for clean energy-based solutions.
The Asia Pacific region dominates the global power rental systems market and is likely to retain its leading position. Rapid industrialization and infrastructure spending across China, India, and Southeast Asian countries will drive the need for reliable power infrastructure in the region. North America is anticipated to emerge as another major market as outdated power infrastructure undergoes revamping in the United States and Canada. Stringent oversight of power projects in the developing world also spurs opportunities for market players.