Return to: Energy NewsHow are Emerging Economies Driving Advance of Global Power Rental Market?The demand for rented power is expected to shoot up in the coming years, due to the rapid rise in the need for electricity in emerging economies, such as India, China, Brazil, South Korea, Qatar, Turkey, and Thailand, on account of the technological advancements taking place here. In addition to this, the soaring foreign investments in the construction sector in these countries are expected to further boost the demand for rented power. As a result of these factors, the global power rental market generated revenue of $9,167.6 million in 2017 and is expected to attain a $16,855.5 million valuation by 2023. It is also predicted to progress at a CAGR of 10.3% during the forecast period (2018–2023). The leading European and North American power rental companies are establishing their businesses in developing nations, thereby propelling the supply of power globally. For instance, Aggreko PLC launched a joint venture with Shanghai Yude, a China-based power rental company, in 2018, in order to build up its business in the country. Get a sample copy of this report: https://www.psmarketresearch.com/market-analysis/power-rental-market/report-sample The demand for rented power is commonly witnessed in the oil and gas, construction, industrial, mining, events, and utilities sectors. Amongst these, the utilities sector registered the highest demand for generators in 2017, and it is also predicted to record massive uptake of such equipment during the coming years. This is mainly ascribed to the increasing supply of rented power by the various utility companies during the redevelopment or conversion of aging thermal power plants. Geographically, the Middle East and Africa (MEA) registered the highest demand for rented power, historically (2013–2017). This is primarily attributed to the rising demand for electricity from the construction sector and the surging need to supply power to the outdated power plants undergoing redevelopment here. Moreover, the increasing infrastructure investments and rapid industrialization in countries such as Oman, Saudi Arabia, and the U.A.E. is expected to cause tremendous growth in the power rental market in the coming ye ... News Release: How are Emerging Economies Driving Advance of Global Power Rental Market? Submitted on: June 22, 2020 09:40:14 AM Submitted by: Manish Baghel On behalf of: https://www.psmarketresearch.com/market-analysis/power-rental-market |