According to the research report titled ‘North America Power Rental Market Forecast 2027 By Fuel, By Power Rating, By End-Use, By Application, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report LLC, North America power rental market is expected to grow at a healthy rate over the forecast period 2017-2027.
Rising demand for retrofitting & expansion of existing electrical infrastructure in residential & commercial sectors, surging population, and rapid urbanization are the primary factors driving North America power rental market growth. Moreover, growing trend of immigration from countryside to city areas is also fueling industry development.
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Low cost of renting power infrastructure, in contrast with purchasing entire setups, stringent emission regulations, and inclination towards eco-friendly systems are positively swaying the market outlook.
Notably, the coronavirus pandemic has accelerated the demand for power gensets in the healthcare sector, owing to rising power supply requirements for patients suffering from COVID-19. These units are offered at low rates and reduce the costs incurred on unexpected power outages in hospitals, which is in turn boosting the overall industry remuneration.
Based on power rating, North America power rental market is classified into < 75 kVA, 75-375 kVA, 375-750 kVA, and > 750 kVA. By fuel type, the business vertical is split into diesel, gas, and others, wherein the gas segment is slated to gain traction in the coming years, on account of preference for eco-friendly emergency electricity backup systems.
Moving on to end-user spectrum, the industry segmentation comprises telecom, data centers, healthcare, oil & gas, electric utilities, marine, offshore manufacturing, construction, mining, and others.
On the regional front, Canada industry is touted to garner substantial returns over the forecast duration, owing to increasing demand for continuous electricity supply, large population base, and burgeoning construction activities.
Prominent players in North America power rental industry sphere include ProPower Rental, Kohler Co., Himoinsa SL, Wärtsilä Corp., Wacker Neuson SE, Generac Power Systems Inc., Cummins Inc., Aggreko plc, Caterpillar Inc., and Atlas Copco AB.
Questions and Answers:
Q1: What are the key growth catalysts in North America power rental market?
A1: Rising demand for retrofitting & expansion of existing electrical infrastructure in residential & commercial sectors, surging population, and rapid urbanization are the primary factors driving North America power rental market growth.
Q2: How is Canada contributing to North America power rental market remuneration?
A2: Increasing demand for continuous electricity supply, large population base, and burgeoning construction activities are promoting power rental units in Canada, thus boosting overall industry remuneration.
Q3: How is the competitive landscape of North America power rental industry defined?
A3: Prominent players in the industry include Propower Rental, Kohler Co., Himoinsa SL, Wärtsilä Corp., Wacker Neuson SE, Generac Power Systems Inc., Cummins Inc., Aggreko plc, Caterpillar Inc., and Atlas Copco AB.
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