According to the Graphical Research new growth forecast report titled “Asia Pacific Power Rental Market Size By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By Fuel (Diesel, Gas, Others), By End-Use (Telecom, Data Center, Healthcare, Oil & Gas, Electric Utilities, Offshore, Manufacturing, Construction, Mining, Marine), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Country Outlook (China, India, Japan, Indonesia, Thailand), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”, to Take Huge Strides by 2026.
Asia Pacific Power Rental Market Share will witness growth owing to the robust infrastructural development of commercial and residential spaces primarily across the developing nations. Growing electricity consumption driven by rising population along with rapid industrialization & urbanization will boost the industry landscape.
Growing urban migration coupled with increasing adoption of single-family apartments will augment the product penetration of <75 kVA rated units. In addition, surging inflow of FDIs and local investment via national and international organisations toward sustainable local development will fuel the business outlook.
Gas power rental market size will grow owing to rising consumer preference toward energy security and adoption of emergency systems. These units offer independency from fossil fuel and a low-cost option in comparison to the available alternatives for continuous electric supply. Further, mandated emission norms coupled with robust expansion of LNG infrastructure will strengthen the market outlook.
Healthcare application is projected to rise on account of surging urgency to cater to the escalated number of COVID-19 patients. The outspread of coronavirus has severely impacted the global health thereby mandating need for emergency electricity backup across the nations. In addition, the ability of these systems to offer energy solutions at reasonably low prices centred at counterbalancing the costs incurred by sudden electrical failure will boost the product deployment across all commercial spaces.
The peak shaving market share is projected to rise on account of surgent electricity demand driven by huge population growth. The electric utilities facilitate short duration for load shedding in order to counter the heightened energy demand. Furthermore, booming IT industry along with several firms offering work from home to their employees will further escalate the power rental product adoption.
Thailand is set to fuel the market share owing to escalated demand driven by flourishing tourism sector. The increased deployment of these systems in hotels, malls and supermarket in order to compensate for peak demand along with their ability to provide low cost standby electricity option will fuel the product demand.
Several key participants are forming strategic alliances with an aim of benefitting from the economies of scale while also performing backward integration in order to sustain their market share. The leading industry participants operating in the Asia Pacific Power Rental Market includes Atlas Copco, Caterpillar, Cummins, Aggreko, Generac Holding Inc., Kohler Co., Wacker Neuson Group, Wärtsilä, Himoinsa and Sewatama.