North American Power Generation Rental Market Value May Top $800 Million, Report Says
The North American power generation rental industry is worth more than $800 million with rampant growth expected, according to an analysis by Verify Markets. Generators for temporary power provides constant, reliable and cost-effective solutions during scheduled power shutdowns, new or expanded facilities, power for planned and unplanned events such as natural disasters and contingency planning, remote sites and seasonal peak load requirements.
The market is largely dominated by diesel generators, the report said. However, with the tightening of regulations on emission standards, more focus is being given to alternative fuel and non-diesel generators. Factors driving the growth of the market include: Increasing demand of power, aging infrastructure, need of constant power, demand coming from the oil-and-gas market, recovering economy and infrastructure projects.
Some market restrain includes a rise in environmental concerns, stringent environmental regulations, increasing cost of the rental unit, limited product differentiation and increasing competition.
Key companies in the market include: Aggreko, Caterpillar, Cummins and United Rentals. Additional players include Hertz Equipment Rentals, Sunbelt Rentals, Trane Rental Services and regional and local market participants.
The report provides an overview of the rental power generator market in North America and has focused on portable diesel fuel generators, natural gas generators and other gensets ranging from smaller towable 5 kW to large containerized 2 MW units.
For more information visit www.verifymarkets.com.
