North American Power Rental Market size is poised to show tremendous growth between 2021 and 2027, according to a latest forecast report by Graphical Research.
North America market growth is owing to the robust infrastructural expansion and ongoing retrofitting activities of existing residential and commercial spaces. Rising electricity consumption on account of surging population growth along with rapid urbanization and will improve the industry statistics. Minimized setup costs and reduced dependency on additional infrastructure requirements along with growing need to sustain continuous industry operations will fuel the demand for power rental units.
Rapid urban migration along with increasing construction of single-family apartments will enhance the product penetration of < 75 kVA rated units. Additionally, rising inflow of local investment and FDIs via national & international organisation towards infrastructural development and retrofitting activities will drive the business outlook. In addition, growing implementation of power rental units to cater to the increasing customer requirements primarily across the multi-family residential establishments will propel the market forecasts.
Gas power rental market size is projected to grow due to surging consumer preference towards adoption of eco-friendly emergency power backup systems. These units propose independency from fossil fuel and fall in compliance with energy efficiency norms implemented by several nations across the region. Moreover, mandated emission norms along with robust development of LNG infrastructure will favour the market outlook.
Browse detailed statistical insights from the report, “North America Power Rental Market Forecast 2027 By Fuel (Diesel, Gas), By Power Rating (< 75 kVA, 75 - 375 kVA, 375 - 750 kVA, > 750 kVA), By End-Use (Telecom, Data Center, Healthcare, Oil & Gas, Electric Utilities, Offshore, Manufacturing, Construction, Mining, Marine), By Application (Standby, Peak Shaving, Prime/Continuous), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Increased adoption of gensets in healthcare sector owing to rising urgency to provide consistent power supply to ICUs driven by rising count of COVID-19 patients will positively impact the power rental industry. Moreover, the ability of these units to offer energy solutions at reasonably low prices centred at counterbalancing the costs acquired by sudden electrical failure will boost the product expansion across all commercial spaces.
The peak shaving segment is anticipated to rise owing to surging electricity demand on account of rapid industrialization across the region. The electric utilities facilitate short duration for load shedding in order to counter the heightened energy demand, thereby fueling the demand for backup power solutions. Furthermore, booming IT industry along with several firms offering work from home to their employees will further escalate the electricity demand, thereby ensuring high power rental product adoption.
Canada power rental market will witness substantial growth owing to increased demand of consistent power supply driven by booming foreign student population. Robust development of commercial spaces including universities, retail stores, and malls has significantly resulted in increased demand for consistent power supply, thus augmenting the utilization of power rentals. Moreover, their ability to provide low cost standby electricity option will ensure wider product penetration.
The North American power rental market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, By Power Rating
- <75 KVA
- 75-375 KVA
- 375-750 KVA
- >750 KVA
North America Market, By Fuel
North America Market, By End Use
- Data Center
- Oil & Gas
- Electric Utilities
North America Market, By Application
- Peak Shaving
The above information has been provided for the following countries: