analysts forecast the global power rental accessories market to grow at
a CAGR of over 3% during the forecast period, according to their
latest market research report.
Transition to gas generators is one of the major trends being witnessed
in the global
power rental accessories market 2018-2022. The low cost of
natural gas leads to a reduction in operating expenses. In large cities,
natural gas is also commonly delivered through pipelines. Hence, this
eliminates the need for storage. When compared with non-renewable
resources of energy, gas generators use natural gas as fuel, which is
affordable and effective. Only coal is cheaper than natural gas. When
compared to diesel generators, gas generators are cleaner as they do not
produce air pollutants or residuals such as ash or soot. Thus, the
adoption of gas generators is increasing.
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According to Technavio analysts, one of the key factors contributing to
the growth of the global power rental accessories market is the presence
of mandates on load bank testing:
Global power rental accessories market:
Presence of mandates on load bank testing
Load banks are used in engine generators, ground power units, and
battery systems to test the running efficiency of the power source.
During power failures and in other applications, they provide an
understanding of the performance of generators and other devices. The
use of load banks prevents power cuts during testing. For example, user
networks can be disrupted by power cuts at the beginning and the end of
testing. Load banks solve the issue by making the user’s network
unavailable if the generator cannot recover power.
According to a senior analyst at Technavio for research on power,
“The use of load banks is crucial in nuclear testing, data centers, and
hospitals. Load banks are expensive to acquire, maintain, and store.
Hence, for short-term projects, renting is the preferred option. Various
countries have imposed regulations that require the continuous supply of
power for a fixed period of time during national power breakdowns.”
Global power rental accessories market:
The global power rental accessories market research report provides
market segmentation by product (power accessories and fuel accessories)
and by region (the Americas, EMEA, and APAC). It provides an in-depth
analysis of the prominent factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.
The power accessories segment held the largest market share in 2017,
accounting for over 60% of the market. This product segment is expected
to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of over 41%.
This region is expected to dominate the market through 2022, however,
there will be a decrease in its market share by over 2%.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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