Product ID: SQMIG55A2030
Global Power Rental Market Size, Share, Growth Analysis, By Power rating(Below 75 kVA, 75-375 kVA), By Fuel type(Gas, Diesel), By Application(Continuous load, Standby load), By End user(Mining, Construction) - Industry Forecast 2024-2031
Report ID:
SQMIG55A2030 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
122 |
Figures:
77
Global Power Rental Market Regional Insights
Based on region global power rental market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. In 2021, Asia Pacific is expected to have the largest market share worth US$ 2.20 billion. China now enjoys a considerable market share in Asia Pacific in terms of value in the global market. China is one of the most important mining countries.
China was also reported to have more than a 30% share in the global mining sector in 2022. China's manufacturing industry is likewise expanding at a rapid pace, owing to plentiful raw material availability and low labour costs. Owing to these characteristics, demand for rental electricity is predicted to remain high, and China market is expected to dominate the global market. The Middle East and Africa are the most rapidly increasing regions for rental power solutions. Construction and the oil and gas industries are expanding at a steady pace throughout the region. The region accounted for a sizable global market share, primarily due to demand from the mining, construction, and oil and gas industries. The absence of sufficient grid structure, increased mining activities in Africa, and high demand for rental electricity from off-grid oil and gas wells are among the primary drivers for the region's market growth. Latin America is a high-potential market that is expected to grow at a faster CAGR than other regions. Latin America is a major producer of lithium and graphite, owing to mining activities in Brazil, Argentina, and Chile. In Latin America, grid infrastructure has not reached isolated areas such as the Caribbean Islands, where power renting is still the primary source of power. As a result of these factors, the market is likely to gain traction in Latin America.
Global Power Rental Market Report Snapshots
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