LONDON--(BUSINESS WIRE)--The global mobile power generation equipment rentals market is expected to post a CAGR of more than 7% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global mobile power generation equipment rentals market size is the increasing demand for emergency power during natural disasters. There is a dramatic increase in unpredictable natural disasters and weather events over the years, due to the severe effects of global warming. Such disaster leads to grid failure that results in power outages in the affected region. These situations increase the demand for mobile power generation systems as they provide emergency power to various facilities. Thus, the growing demand for emergency power due to natural disasters is expected to drive the growth of the mobile power generation equipment rentals market during the forecast period.
As per Technavio, the growing adoption of mobile power plants for rural electrification will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global mobile power generation equipment rentals market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Mobile Power Generation Equipment Rentals Market: Growing Adoption of Mobile Power Plants for Rural Electrification
Electricity is one of the most critical requirements for the development of a nation. While developed nations are fully electrified, developing and under-developed countries lack consistent electricity supply, particularly in the rural regions. Governments are increasingly making efforts to electrify rural regions. These efforts will increase the demand for mobile power generation systems and drive the growth of the mobile power generation equipment rentals market during the forecast period.
“Apart from the increasing adoption of mobile power plants for rural electrification, other factors such as the increasing number of power purchase agreements, and the growing shift toward gas generators will have a significant impact on the mobile power generation equipment rentals market worth during the forecast period,” says a senior analyst at Technavio.
Global Mobile Power Generation Equipment Rentals Market: Segmentation Analysis
This market research report segments the global mobile power generation equipment rentals market size by product (generator, and turbine), and geographic regions (Europe, North America, APAC, South America, and MEA).
The North American region led the mobile power generation equipment rentals market in 2018, followed by Europe, MEA, APAC, and South America respectively. The mobile power generation equipment rentals market report identifies factors such as the requirement for emergency power during natural disasters and the increased demand for temporary power from the oil and gas industry to account for the market dominance of North America over the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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