San Antonio, TX – A new analysis by Verify Markets shows the Asia Pacific power rental market was valued at over $960.0 million USD in 2020 and is expected to reach over $1.4 billion USD by 2027. The market is projected to experience a steady growth rate during the forecast period (2020-2027).
The Asia Pacific power rental market is highly competitive and fragmented with several local, regional, and international players. Drivers include increasing demand for power, poor grid infrastructure, and frequent power outages caused by natural disasters.
Large companies market steps to reduce their carbon footprint and become net zero, and as a part of such initiatives, they are reducing their reliance on diesel generators. A gap is being created by large companies in the diesel segment that is expected to be filled by local players who are likely to continue using diesel generators.
The COVID-19 pandemic has had a mixed impact on the Asia Pacific power rental market. The events industry came to a complete standstill and is only now slowly limping back to normalcy. However, while most industries remained shut in the region through 2020, power rental companies played an integral part in setting up field hospitals and temporary medical facilities across Asia Pacific at the peak of the pandemic in 2020.
The report provides an in-depth analysis of the overall power rental market in Asia Pacific. The study is comprehensive and includes market share splits by fuel type (diesel-based vs. gas-based), generator size (<500 kW, 500kW-1 MW, >1 MW), application (prime, continuous, standby), end user group (mining, utilities, manufacturing, oil & gas, construction, others), and rental provider. Furthermore, profiles of key companies, growth drivers, restraints, challenges, and quotations from industry participants are also included in this analysis of the temporary power opportunity. The base year for the study is 2020 and the forecasts are until 2027.
Some of the key companies covered in this report include Aggreko plc, Energy Power Systems Australia Pty Ltd, Coates Hire Ltd, APR Energy, LLC, Kohler Co. (Clarke Energy) and Total Generators. This report provides an in-depth analysis of the overall Asia Pacific power rental market. The report captures various market dynamics such as growth drivers, restraints, trends, market landscape, COVID-19 impact, and provides strategic recommendations.
A copy of the Asia Pacific power rental market report can be obtained at www.verifymarkets.com. Verify Markets’ research methodology consists of extensive primary interviews with key participants in the industry along with analysis of secondary resources to validate information. For more information on this report and other research (including custom reports and consulting), contact email@example.com or call +1 210.595.9687.