LONDON--(BUSINESS WIRE)--The power rental market in Americas is expected to grow by USD 759.40 million as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over over 4%.
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Read the 120-page report with TOC on "Power Rental Market in Americas Analysis Report by Product (Diesel generators and Gas generators), End-user (Utilities sector, Oil and gas sector, Industrial sector, and Others), and the Segment Forecasts, 2020-2024".
The market is driven by the need for uninterrupted power supply. In addition, increasing infrastructure-related activities are anticipated to boost the growth of the power rental market in the Americas.
The rising adoption of electrical equipment in various end-user applications has significantly increased the demand for continuous and reliable power supply. Also, any fluctuations in power supply, such as voltage sag, swell, and outage could lead to the damage of electrical equipment. Hence, there is an increased demand for uninterrupted power supply solutions among industrial end-users. Many old mines across the Americas are adopting new electrical equipment to scale up their production. This has increased the demand for power rental equipment as utility companies do not provide uninterrupted power supply. Therefore, the rising need for uninterrupted power supply is expected to drive the growth of the power rental market in Americas during the forecast period.
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Major Five Power Rental in Americas Companies:
Aggreko Plc operates its business through segments such as Rental Solutions, Power Solutions Industrial, and Power Solutions Utility. The company offers diesel and natural gas generators for planned and emergency applications.
APR Energy operates its business through segments such as Power solutions and Mobile technology. The company provides genset generators and mobile gas turbine power plants on a rental basis.
Ashtead Group Plc
Ashtead Group Plc operates its business through segments such as Sunbelt US, A-Plant, and Sunbelt Canada. The company offers power generation equipment such as turbines and generators on a rental basis.
Atlas Copco AB
Atlas Copco AB operates its business through segments such as Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique. The company offers mobile diesel generators on a rental basis.
Caterpillar Inc. operates its business through segments such as Energy & Transportation, Financial Products, Construction Industries, and Resource Industries. The company offers generators ranging from 20 to 2,000 kilowatt-electricity (kWe) of power on a rental basis.
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Power Rental Market in Americas Product Outlook (Revenue, USD Million, 2020-2024)
- Diesel generators
- Gas generators
Power Rental Market in Americas End-user Outlook (Revenue, USD Million, 2020-2024)
- Utilities sector
- Oil and gas sector
- Industrial sector
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