America Power Rental Market Share is projected to witness significant growth on account of increasing need for continuous and reliable power supply along with rising investments toward infrastructure development. Power rental is a strategic tool utilized to avoid amortization and depreciation costs. Additionally, aging existing grid infrastructure beckons the need for a complete overhaul which in turn is set to stimulate the business scenario.
The economy is still reeling from the unforeseen impact of the COVID-19 pandemic also known as the corona virus. Complete shutdown of several economic divisions along with massive loss of production activities have had severe economic ramifications. However, post realizing the economic impact, initiation of new projects and pent up product demand will significantly encourage the market outlook.
75-375 KVA will undergo rapid growth on account of growing demand for uninterrupted power supply from the commercial sector. Uptake in projects across the board along with the restrictions and challenges faced when transporting equipment to remote locations will positively impact the market growth. Additionally, rising costs of power outages at data centers and downtime will augment the product adoption.
Gas will witness significant growth owing to the increasing environmental concerns among individuals coupled with stringent government regulations target toward reducing emissions. Shifting customer preference towards operational suitability and economic viability will complement the market growth. Increasing investments for the development of green alternatives and development of hybrid technologies will further stimulate the business landscape.
The U.S. will register high growth rate on account of increasing number of blackouts along with rising investments toward upgradation of aging power infrastructure. Weather related disasters including hurricane Dorian and hurricane Irma in this region have provided additional revenue streams for the product. The flourishing commercial sector and massive construction projects will further augment the power rental market growth.
Several players in the market are directing their focus toward expansion of their product portfolio and developing attractive rental schemes to maintain or acquire greater market share. Key strategic stances including backward integration and realizing the economies of scale will enable the manufacturers to maintain a foothold in a competitive market. Key players in the market include Ingersoll Rand, Wagner, Wärtsilä, Atlas Copco, Caterpillar, United Rentals, Cummins, Generac, and Kohler amongst others.