ALBANY, New York, Feb. 19, 2020 /PRNewswire/ -- With a substantial amount of drivers to propel the growth of global generator rental market, it is major driven by the demand for a cost effective and efficient generators in oil and gas industry, says a recent report by Transparency Market Research. The report also states that the global generator rental market is expected to witness a robust 5% CAGR during the tenure of 2019 to 2027. Moreover, the report also states that the global generator rental market shall reach to the value of US$ 6 Bn by the end of 2027.
"With growing requirement for uninterrupted power supply, the demand for generators has become quite high. However, the maintenance of a generator is not an easy task to accomplish for the users. It is therefore inclining towards to opt for a rental generator service. This inclination is the major factor that is propelling the growth of global generator rental market during the tenure of 2019 to 2027. " – Transparency Market Research.
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Key Findings in Global Generator Rental Market Study
The report allows the readers to have a clear picture of the global generator rental market. To do so, the report categorizes into several segments on the basis of power ratings, end-user, fuel, and region. These insights help the players to understand the dynamics of the global generator rental market and make effective strategies for a sustainable future in the global generator rental market. Some of the segments of the global generators rental market are:
- Oil & gas is projected to dominate the end user category of the global generator rental market during the tenure. This dominance of the segment is the result of aggressive investments by the organizations in implanting rental generators in their facilities. The industry is expected to account for US$ 1.3 Bn by the end of 2027.
- In terms of fuel the diesel generator are projected to dominate the global generator rental market. The segment is expected to account for approximately US$ 3.6 Bn during the tenure of 2019 and 2027. This dominance is attributed to the high performance and greater reliability of the diesel generators.
Explore the actionable insights from the report on global Generator Rental Market available under the title: Generator Rental Market (Power Rating: Below 100 kVA, 100 kVA - 500 kVA, 501 kVA - 1,000 kVA, and Above 1,000 kVA; Fuel: Diesel, Natural Gas, and Others; and End User: Utilities, Oil & Gas, Mining, Construction, Events, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/generator-rental-market.html
Key Drivers of the Global Generator Rental Market
To offer a clear picture of the momentum and progress of the global generator rental market, the report offers actionable insights on the drivers that are propelling the growth of the market. These insight can help the players to develop effective strategies to grab the lucrative opportunities of the market. Moreover, these strategies can also help the businesses to have a successful future in the global generator rental market during the estimated time frame. Some of the prominent drivers of the market profiled in the report are as follow:
- Developing construction industry has an extensive requirement of the generators. These generators are powerful enough to keep the equipment up and running for a longer duration of time. In order to keep the cost under budget, the players of construction industry are using rental generator. This allows the businesses to have an effective budget that can be utilized in other developments. Hence the demand for generators in construction industry is expected to propel the growth of global generator rental market during the tenure of 2019 to 2027.
- The global generator rental market is massively driven by the demand for reliable, sturdy, and robust generators. However, such generators are extensively expensive and are difficult to maintain. To overcome this issue, the players are using rental generator services that removes the burden of extra cost from the shoulders of users. This as a result propels the growth of global generator rental market during the tenure of 2019 to 2027.
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Major Roadblocks that Might Hamper the Global Generator Rental Market's growth
It is not just the drivers and trends that the report by Transparency Market Research offers insights on. It also helps the readers to understand the challenges that impede the overall growth of the market. These insights from the report help the players to come up with strategies that can help them overcome these scenarios. Some of the challenges profiled in the report are:
- Stringent government regulations are one of the major challenge that might impede the growth of the global generator rental market. These regulations restricts the manufacturers to limit the size and fuel consumption which as result can lower the performance of the generators.
- High level of noise pollution is also a major roadblock for the growth of global generator rental market. While operating, the generator produces deafening noise, which is unbearable. Hence, the use of such generators has decreased considerably.
With technological developments, the manufacturers are in pursuit to develop, powerful yet silent generators. These generators shall be able to provide required results with lesser noise pollution. These developments shall help the global generator rental market to maintain its momentum during the tenure of 2019 to 2027.
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Global Generator Rental Market: Regional Analysis
Middle East and Africa is expected to witness a substantial growth global generator rental market. This dominance of the region is the result of the growing application of rental generators by oil and gas industry to keep their onshore and offshore platforms working in a hassle-free manners.
On the other hand Asia Pacific is expected to exhibit a substantial potential to the players of global generator rental market. This inclination of the players towards the region is the result of growing demand for uninterrupted power supply in various events especially in India, where the call for reliable power backup is highest; businesses might have plenty of growth opportunity in the region of Asia Pacific.
The global generator rental market is highly competitive and predominantly consolidated. This is because only three players are account for more than 50% of overall share of the global generator rental market. However, this prominence of these players may pose several challenges to the emerging players that are looking for stability in the global generator rental market.
To withstand this challenge, the emerging players are taking part in mergers and collaboration. These strategies help the new players to acquire essential resources that might help them achieve stability and sustainability in the global generator rental market during the tenure of 2019 to 2027.
The global generator rental market is segmented on the basis of:
Generator Rental Market by Power Rating
- Below 100 kVA
- 100 kVA – 500 kVA
- 501 kVA – 1,000 kVA
- Above 1,000 kVA
Generator Rental Market by Fuel
- Natural Gas
- Others (Including Gasoline, Liquefied Petroleum Gas (LPG), and Biogas/Biofuels)
Generator Rental Market, by End User
- Oil & Gas
Generator Rental Market by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific (APAC)
- Australia & New Zealand
- Rest of APAC
- Middle East & Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of Middle East & Africa
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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