The Need for Uninterrupted Power to Boost the Global Standby Rental Power Market: Technavio

June 10, 2017

LONDON–(BUSINESS WIRE)–#Energy–According to the latest market study released by Technavio,
the global
standby rental power market is projected to grow to USD
3.75 billion by 2021, at a CAGR of more than 3% over the forecast period.


This research report titled ‘Global
Standby Rental Power Market 2017-2021’ provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
This market research report also includes up to date analysis and
forecasts for various market segments and all geographical regions.

A standby rental power system is a secondary electrical system that
can automatically supply power when the grid power fails by utilizing
resources available at the source. The need to provide uninterrupted
power is a major factor that drives the growth of the global standby
rental power market.

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Based on the end-user, the report categorizes the global standby rental
power market into the following segments:

  • Oil and gas sector
  • Industrial sector
  • Utility sector
  • Other sectors

The top three revenue-generating end-user segments in the global standby
rental power market are discussed below:

Oil and gas sector

“The oil and gas industry deploys standby rental power systems
across the entire value chain, making them the largest end-user market,
occupying more than a third of the overall shares,” says
Thanikachalam Chandrasekaran, a lead analyst at Technavio for power
research.

For the oil and gas industry, power generators are an important
necessity, since they provide key power sources, particularly to assist
with drilling and digging. The rise in the number of drilling activities
such as production, processing, and refining in the oil and gas sector
drives the major demand for standby rental power companies.

Industrial sector

The standby rental power market by the industrial sector is projected to
be worth USD 0.74 billion by 2017, and continue to grow faster than
other end-user segments in the market. The growth of the market segment
is expected to be driven by the need to ensure an uninterrupted working
of all the equipment to ensure maximum efficiency. Thus, the demand for
standby rental power is expected to witness an increase in demand during
the forecast period. Swiftly developing economies such as China, Brazil,
and India are expected to create the highest demand for standby rental
power systems.

Utility sector

“The power utility sector is expected to grow significantly during
the forecast period, driven by the increased usage of generators as well
as the maintenance and upgrading of power plants,” says
Thanikachalam.

Utilities worldwide use rental power as a backup whenever a power plant
undergoes repowering or restructuring to meet the base demand from
end-users. Most countries belonging to the Gulf Cooperation Council
experience seasonal power shortages, to counter which they adopt standby
rental power systems.

The top vendors highlighted by Technavio’s research analysts in this
report are:

  • Aggreko
  • APR Energy
  • Atlas Copco
  • Energyst
  • United Rentals

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
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and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
resellers, and end-users.

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