Power rental systems are most often used during power outages to keep various operations such as production uninterrupted. Rapid industrialization and
surging demand for electricity from across the globe has made power rental systems and uninterrupted power supply extremely crucial. Power rental units
serve as supplementary sources of backup to power grids.
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Major Power Outages over the Last Five Years
· An estimated 70 million people were plunged into darkness in Turkey in March this year owing to technical problems
· In January this year, 80% of Pakistan was rendered without electricity following a backward surge at a power station in Baluchistan
· An ice storm in December 2013 in Canada left 600,000 people in Ontario and 300,000 in Toronto without power
· Hurricane Sandy in October 2012 left approximately 8 million customers in the U.S. without electricity
· In July 2012, an astounding 300 million people were affected by a power blackout in India caused by grid collapse, making it the largest ever power
failure in the world
· An estimated 3.8 million people in the U.S. were left without electricity supply during a line of thunderstorms in June 2012
· Over two million power outages, which lasted for a week, were caused in October of 2011 after snowstorms along the east coast of the U.S.
· In February 2011, forced outages at two leading coal-fired power plants affected over a million customers in Texas
· In March 2010, approximately 15 million people in Chile, which is around 90% of its population, were left without electricity due to a major transformer
At times like these, when industrial production, and life in general, comes to a standstill, power rental solutions come to the rescue and provide
substantial power supply to get activities back on track.
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Factors Propelling the Power Rental Market
The global power rental market, according to a report by Transparency Market Research, is poised to develop at a strong CAGR of 16.2% from 2012 to 2019,
growing from a value of US$7.28 billion in 2012 to US$20.64 billion by 2019.
The power rental market, both global and regional, is driven by a number of forces:
· Increasing grid instability owing to aging of conventional grids is a major factor fueling the power rental market
· Spikes in alternating power have augmented the growth of the power rental market
· Growing awareness on curbing the demand for energy especially during peak hours has benefited the global market for power rental
· Trending practice of renting power instead of buying it has had a tremendous impact on the power rental market
· Expanding application areas of power rentals into fields such as industrial, events, oil and gas, construction, mining, and government and utilities is a
key factor boosting the market
· The Saudi Arabia power rental market is propelled by rise in construction activities, improving infrastructure, and mounting demand for electricity in
· Rapid industrialization as well as urbanization has contributed toward the growth of the Asia Pacific power rental market
Apart from these prominent factors, the global power rental market is also bolstered by the growing presence of major companies. The leading players
operating in this space include Perennial Technologies Private Ltd, Energy International Inc, United Rentals, Kohler. Co., Hertz Corporation, Atlas Copco
AB, Power Electrics (Bristol) Ltd, and Worldwide Power Products LLC.