Generator Rental Market – Snapshot
Having a credible source of power is extremely important for a large number of industries, from oil and gas to food and beverage to dairy industries to others. Industrial equipment cannot run or do any task without constant flow of power supply. The growing significance of power is likely to propel the expansion of the global generator rental market in the years to come.
Maintenance and obtaining of generators is often a reason for worry for those who are into the business of building infrastructure or emergency repairs in the developing nations. Though the ownership of one’s own unit comes with its share of benefits, however, there are situations when rental services of generators become a feasible option.
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Augmented Demand from the Construction Industry to Shoot up Demand
The global generator rental market is driven by the demand for an efficient and cost effective generator services in various industries, particularly in oil and gas industries. Oil and gas industry is predicted to exert dominance over the global generator rental market in terms of end user. Huge investment made by several organizations in setting up rental generators at their facilities is likely to drive the demand of the generator rental services.
The benefits of generator rental services are that they are
- Reliable
- Sturdy
- Robust
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In addition, expansion of the construction industry needs the services of generators substantially, which is likely to add to the growth of the global generator rental market. These generators need to be extremely powerful to keep the machines up and running for a prolonged period of time. In an attempt to keep the operating cost under control and within the budget, construction industry players are leveraging the benefits of rental services of generators. As such, this will help businesses to spend the excess finances to be spent on other developments.
Power-on-Demand Systems Hold High Value for Stakeholders in Oil & Gas Industry
Stakeholders in the oil & gas industry are pervasively adopting cost reduction strategies to effectively manage their finances. Vendors in the generator rental market are making the most of this shift, and offering rental services for power generation. Since renting equipment is cheaper than outright purchasing, companies in the generator rental space are increasing the availability of power generation and temperature control systems in the oil & gas industry. As such, the oil and gas industry is envisioned for aggressive growth in the generator rental market, with a predicted value of ~US$ 1.3 billion by the end of 2027.
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High-performance Diesel Generators Prevent Losses during Extensive Power Outages
Innovations in diesel generators are powering growth for the generator rental market. Companies are making progress in the remote monitoring of diesel generators that are integrated with microprocessor-based control panels. By themselves, diesel generators account for the highest revenue in the generator rental market, with an estimated value of ~US$ 3.6 billion by 2027. Hence, vendors are offering diesel generators in various power ratings to cater to the specific needs of stakeholders in factories, data centers, and other end-use industries.
Apart from delivering high-performance generators, companies are increasingly fulfilling end user demand for efficient technical services. They are investing in training programs for employees to make them qualified in handling power crisis situations.
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