LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global generator rental market for the oil and gas industry report until 2021. This research report also lists 11 other prominent vendors that are expected to impact the market during the forecast period.
The global generator rental market for the oil and gas industry occupies 32% of its parent market – the global power rental market. It is forecast to be valued at USD 1040 million by 2021, growing at a CAGR of close to 4% through the forecast period. Diesel generators make up the leading product segment in the market.
“The most important driver responsible for the growth of this market is the constant demand created for oil and gas. With the increase in demand for oil and gas, there has been an increase in exploration and production activities, which is creating a healthy demand for generators. Other important drivers are the steadily increasing offshore drilling activities, and a need for consistent power,” says Thanikachalam Chandrasekaran, one of the lead analysts at Technavio for power research.
Competitive vendor landscape
The global generator rental market for the oil and gas industry is a fragmented market that includes many prominent vendors offering generators that range from 20 kW to 2,000 kW. These vendors offer a broad variety of products and turnkey solutions right from planning until the installation at short turnover periods along with constant support and maintenance. The need for continuous power supply along with a broad range of products and services helps in increasing the reach of established players such as Aggreko, APR Energy, Atlas Copco, Energyst, and United Rentals.
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Top five vendors in the global generator rental market for the oil and gas industry:
Aggreko offers temporary power and temperature control solutions worldwide. Its equipment includes silent gas and diesel generators, air conditioners, chillers, heaters, dehumidifiers, load banks, and cooling towers for both planned and emergency projects.
It provides compressed air systems on rent, project design planning, process enhancement, and operating services. Aggreko serves various key end markets such as mining, agriculture, oil and gas petrochemicals, refineries, construction and contracting, manufacturing, food and beverage, and shipping sectors.
APR Energy offers temporary power solutions to industrial and government customers in the US and worldwide. It offers emergency generation, industrial power, peak shaving, grid stability, distributed generation, and supplemental power. The company focuses on serving sovereign utilities as well as private utilities.
APR Energy serves the power needs of the customers in the Middle East, Asia, Africa, and the Americas. It offers a broad range of solutions for the global power rental market such as distributed energy, supplemental power, industrial power generation, emergency generation, grid stability and support, and peak shaving.
Atlas Copco designs, manufactures, and sells compressors, vacuum solutions and air treatment systems, construction and mining equipment, and power tools and assembly systems in more than 180 countries. It employs 44,000 people worldwide. The company's business segments are classified into five business segments. These are the compressor technique, mining and rock excavation technique, construction technique, industrial technique, and others.
Atlas Copco is one the major players in the global power rental market. The company offers power rental solutions under the product categories of rental and construction. It provides rental products for the industrial, construction, portable, and the light tower sectors.
Energyst offers rental power and temperature control solutions for energy companies, industry, shipping and power plants. It provides generators, chillers, standby generators, transformers, load banks, distribution panels, and electric cables.
Energyst offers temporary power for a small-scale project or a long-term solution for a mega plant. The company provides a broad range of power equipment such as power generators up to 2,000 kVA, fuel tanks, distribution gear, load banks, and transformers.
United Rentals is one of the largest equipment rental companies in the US. The company provides 3,300 classes of equipment for rental purposes to the industrial and construction companies, homeowners, manufacturers, utilities, and government entities. It gets its revenue from equipment rentals, sales of new equipment, contractor supplies sales and service, sales of rental equipment, and other revenues.
United Rentals is one the major players in the global power rental market. The company operates through its subsidiaries and functions as an equipment rental company.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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