Generator Rental Market for Oil and Gas Industry: COVID-19 Business Continuity Plan | Evolving Opportunities with Aggreko Plc and APR Energy | Technavio
- Oct 07, 2020
- Business Wire
LONDON--(BUSINESS WIRE)--The global generator rental market for oil and gas industry is expected to grow by USD 153.87 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 3%.
For the Right Perspective & Competitive Insights- Request Free Sample Report on Pandemic Recovery Analysis
Read the 120-page report with TOC on "Generator Rental Market for Oil and Gas Industry Analysis Report by Product (Diesel generator and Gas generator), Geography (MEA, North America, Europe, APAC, and South America), Application (Onshore and Offshore), and the Segment Forecasts, 2020-2024". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/generator-rental-market-for-oil-and-gas-industry-analysis
The generator rental market for oil and gas industry is driven by the need for consistent power. In addition, the increasing focus on unconventional oil and gas E&P activities is anticipated to boost the growth of the generator rental market for oil and gas industry.
Many oil and gas E&P companies are shifting to smaller, deep or ultradeep reserves, and unconventional reserves due to depleting conventional oil gas reserves. This has increased the use of power tools and additional tools and technologies as extracting oil from such reserves requires more power. In addition, processes such as production, processing, and refining in the oil and gas industry are energy-intensive and require a continuous supply of power. Any downtime in these processes will lead to significant monetary losses for oil and gas E&P companies. Hence, oil and gas E&P companies are exhibiting high demand for rental power as it serves as a backup to assist them during emergency and maintenance. It also helps them reduce downtime, operational costs, and ensures the safety of crew members. All these factors are positively influencing the growth of the global generator rental market for oil and gas industry.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Major Five Generator Rental for Oil and Gas Industry Companies:
Aggreko Plc operates its business through segments such as Rental Solutions, Power Solutions Industrial, and Power Solutions Utility. The company provides diesel and natural gas rental generators ranging from 20 kVA to 1,375 kVA.
APR Energy operates its business through segments such as Power solutions and Mobile technology. The company provides mobile containerized generators and diesel and natural-gas power module packages.
Ashtead Group Plc operates its business through segments such as Sunbelt US, A-Plant, and Sunbelt Canada. The company offers rental power generators under the Sunbelt Rentals brand for industrial applications.
Atlas Copco AB operates its business through segments such as Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique. The company offers a wide range of mobile diesel generators and rental power generator models.
Caterpillar Inc. operates its business through segments such as Resource Industries, Construction Industries, Energy and Transportation, and Financial Products. The company offers rental generators to oil and gas industry through its subsidiary, Energyst.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Generator Rental Market for Oil and Gas Industry Product Outlook (Revenue, USD Million, 2020-2024)
Generator Rental Market for Oil and Gas Industry Geography Outlook (Revenue, USD Million, 2020-2024)
Generator Rental Market for Oil and Gas Industry Application Outlook (Revenue, USD Million, 2020-2024)
Are you a start-up willing to make it big in the business? Grab an exclusive Report
Global Low Voltage (LV) Diesel Generators Market – Global low voltage (LV) diesel generators market by geography (APAC, Europe, MEA, North America, and South America) and end-user (commercial, residential, and industrial).
Global Mobile Power Generation Equipment Rentals Market – Global mobile power generation equipment market by product (generator and turbine) and geography (APAC, Europe, MEA, North America, and South America).
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.