Rental power market to grow by 13% per year to 2020

The global market for rental on-site power systems is predicted to reach $21.3 billion by 2020, according to new analysis.

Research firm Markets and Markets’ report, Power Rental Market - Global Trends & Forecasts to 2020, predicts an annual growth rate of 12.9% for the sector from its $11.6 billion revenue so far this year.

The fastest-growing market segments for rental power are utilities and the events industry, the report said.

In regional terms, the Middle East and Asia-Pacific are predicted to show the highest growth rates within the forecast period, overtaking the current market leader, North America.

In 2014, North America held 20.2% of the global rental power market, followed by the Middle East with around 19%.

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...