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The power rental accessories market size has the potential to grow by USD 10.60 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (power accessories and fuel accessories) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including ABM Investama Tbk, Aggreko Plc, Atlas Copco AB, Caterpillar Inc., Cummins Inc., Herc Holdings Inc., HIMOINSA SL, Kohler Co., Nesco Holdings Inc., Northbridge Industrial Services Plc, and United Rentals Inc.
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The power rental accessories market is fragmented. he vendors offer bundled power solutions and individual accessories such as load banks and transformers. The market mostly consists of industry-focused and diversified vendors. Prominent vendors are continuously working on developing fuel-efficient LVDGs for customers on a rental basis. These vendors compete by focusing on specific applications within their larger diversified product mix. Also, the established vendors are finding ways to differentiate their products in the global market to gain a huge market share and competitive advantage. ABM Investama Tbk, Aggreko Plc, and Atlas Copco AB are some of the major market participants. Although the rising use in infrastructural activities will offer immense growth opportunities, the availability of off-grid systems will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this power rental accessories market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this power rental accessories market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
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APAC will offer several growth opportunities to market vendors during the forecast period. The increase in investments in the construction industry and the need to power events will significantly drive power rental accessories market growth in this region over the forecast period.
135% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for power rental accessories in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Power accessories include products such as transfer switches, load banks, transformers, paralleling systems, distribution panels, and cables. The rising need to provide uninterrupted power supply for mission-critical projects such as infrastructural projects and events during power shortages and repair and maintenance activities increases the demand for power accessories.
Market growth in this segment will be faster than the growth of the market in the fuel accessories segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the power rental accessories market size.
The use of power rental accessories in infrastructural activities is a critical factor that is driving market growth. The governments of several countries are focusing on improving their infrastructure by making significant investments. They are initiating several short-term and long-term projects related to the engineering, maintenance, management, and development of infrastructure. Such projects require temporary power solutions, which is leading to an increase in demand for power rental accessories as they are reliable, flexible, and cost-effective for short-term projects.
The growing number of power purchase agreements (PPAs) is a key trend that will positively impact the global power rental accessories market. Utility companies are responsible for supplying power, however, the demand-supply gap due to several reasons such as low capacity additions and the dependency on intermittent sources of energy causes power deficits. Power shortage is common in developing and underdeveloped countries due to rapid urbanization and the rise of industries. Hence, businesses and governments are partnering with power rental companies for long-term PPAs, which is driving the market. Thus, use in infrastructural activities coupled with the growing number of PPAs will drive the power rental accessories market at a CAGR of almost 1% during the forecast period.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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