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The increasing infrastructural activities are driving the growth of the market. With new projects being launched every day, there has been an increase in infrastructural development across the world. This development can include engineering, maintenance, management, and development which are undertaken by both government and non-government sectors. Furthermore, the growing adoption of mobile power solutions for such purposes as it serves as an ideal option for such situations due to their cost-effectiveness and efficiency is expected to fuel the demand for mobile power generation equipment rentals which in turn will drive the market growth.
The report recognizes Aggreko Plc, Alta Equipment Group Inc., Ashtead Group Plc, Atlas Copco AB, ATLAS Corp., BigRentz Inc., Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Herc Holdings Inc., PowerPlus, RPC Inc., Siemens AG, The Taylor Group Inc., United Rentals Inc., and Wacker Neuson SE as some of the key players in the mobile power generation equipment rentals market. The market is fragmented in nature with a 4.45% YOY growth expected in 2023.
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The growing adoption of mobile power plants for rural electrification is an emerging trend in this market. Electricity is an essential requirement for the development of a nation; however there is a lack of consistent electricity supply in developing and under-developed nations especially in rural areas. Consequently there are several measures undertaken by governments to electrify these rural areas which will fuel demand for mobile power generation equipment rentals.
On the other hand, increasing adoption of energy storage systems challenges market growth as they are considered essential tools to utilize benefits of renewables for resilient clean power supply.
The enterprise segment is significant during this forecast period due to its flexibility cost-effectiveness and scalability which enable enterprises to acquire reliable power solutions without making significant upfront commitments.
Overall this report provides accurate predictions on the growth of this market along with information on upcoming trends and challenges that may arise during its progress.
Filed Under: Business
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