2014-04-16 05:45:03 - Power Rental - Global Market Size, Competitive Landscape and Forecasts to 2020 - a new market research report on companiesandmarkets.com
Increasing demand for electricity will drive the significant growth of the global power rental market over the coming years, with revenue expected to surge from $4 billion in 2012 to $8.5 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 10.2. The US currently boasts the highest market share of 19%, followed closely by China and Saudi Arabia, which enjoy shares of 18% and 16%, respectively.
However, China is expected to take the lead in the power rental market by 2020, with an increased market share of 17% and a massive climb in revenue from $720m in 2013 to $1.4 billion at the end of the forecast period, representing a CAGR of 10.7%. Meanwhile, the US will experience
a drop in its market share to 14%.
The substantial growth that we expect to see in the power rental market over the coming years will be due primarily to an increase in power consumption, which will almost double from 13,044 Terawatt-hours (TWh) in 2000 to 27,496 TWh in 2030.
Furthermore, the poor transmission and distribution (T&D) network in many countries, as in China´s case, will provide a substantial boost for the market, as the low availability of power will result in the greater dependence of end consumers on rental power.
However, there are still a number of barriers to further growth in the market, such as low awareness among consumers of the benefits of renting equipment as opposed to purchasing it, and the need for significant financial backing in order for companies to enter the power rental business.
In addition to these barriers, emission regulations could also pose a significant challenge to the power rental market, which is dominated mainly by diesel-powered generators. However, since rental companies have started offering gas-powered equipment, which boast very low emissions and are currently a preferred source of electricity generation, the impact of this restraint is expected to remain medium to low during the forecast period.
Click for report details: www.companiesandmarkets.com/Market/Energy-and-Utilities/Market-R ..
Browse all Energy and Utilities Market Research Reports www.companiesandmarkets.com/Market/Energy-and-Utilities/Market-R ..
Browse all Energy and Utilities Company Profile Reports www.companiesandmarkets.com/Market/Energy-and-Utilities/Company- ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.