Global Standby Rental Power Market 2017-2021

Overview of the global standby rental power market

Technavio’s market research report predicts that the global standby rental power market size will grow at a CAGR of above 3% during the forecast period. The standby rental power market analysis, the increase in natural disasters such as winter storms, wind events, earthquakes, leads to issues such as power, communication, and water services creating a hazardous environment had propelled the market growth. Moreover, lack of communication will make it difficult for emergency response crews to coordinate with service providers to carry out the restoration work. High winds arise in many types of storms and tornadoes with speeds varying from 5 mph to over 25 mph. This affects the largest sections of electrical lines. The destruction caused by natural calamities to power grids compels the need for an alternative backup solution to ensure a constant electric power supply, subsequently driving the growth of the standby rental power market.

According to one of our standby rental power trend, the rising use of gas generators for standby rental power will gain traction in the market during the forecast period. The utilization of gas produces cleaner power than diesel. It is more efficient, produces 30% lesser emissions, and has lower noise levels than diesel generators. It is also comparatively cheaper to operate than a diesel generator and costs lesser than a diesel generator. Moreover, gas power generators not only have lower emission levels but also produce more energy, that makes them more efficient and lowers the overall cost of ownership. These benefits raise the adoption of gas power generators. For instance, one of the manufacturers HIMOINSA launched these generators for rental purposes in April 2016. Gas power generators have an LPG storage capable of 24 hours of continuous operation without refueling and also have an external tank for extended use thus eliminating the need for a constant gas pipeline connection. Moreover, the use of such generators for rental purposes and targeting the oil and gas sector have offered exceptional opportunities for rental companies.

What's your takeaway?

Technavio's industry research report titled - Global Standby Rental Power Market will help you-

• Identify latent opportunities and explorative solutions in the standby rental power market
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, all permutations and combinations inclusive