To shake off the effects of the economic downturn, the U.S. and Canadian governments announced stimulus packages for developmental activities across their countries. This increased spending on infrastructure building has given a huge boost to the generator set rental markets in North America. Further, natural disasters such as hurricanes and other catastrophes have prompted end-users in the oil and gas, industrial, and telecommunications industries to rent generator sets to protect their businesses and minimize downtime cost effectively.
New research from Frost & Sullivan’s (energy.frost.com) Analysis of the North American Generator Set Rental Market research finds that the market earned revenues of $773.3 million in 2011 and estimates this to reach $995.4 million in 2017.
If you are interested in more information on this research, please send an email to Britni Myers, Corporate Communications, at britni.myers[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
As companies limp back to normalcy, they are increasingly recognizing the benefits of renting generator sets over an outright purchase.
"End-users are increasingly becoming aware of the benefits of renting generator sets," said Frost & Sullivan Industry Analyst Rajalingam Chinnasamy. "These advantages include the availability of additional capital for core activities, better inventory control, elimination of maintenance activities, as well as minimization of warehousing and disposal costs."
There has been a surge in capital to develop oil sands and shale gas production, modernize the grid infrastructure, as well as for the application toward other energy infrastructure projects. This influx of funds will eventually ripple into the generator sets rental market.
"However, despite the strong demand for rentals, stringent emission regulations and intensifying competition is pegging back the market," noted Chinnasamy. "To stave off these challenges, companies should introduce generator sets that meet the latest emission regulation standards."
Offering customized packages and looking for strategic mergers and acquisitions will also go a long way in helping generator set rental companies widen their customer base and remain competitive.
Analysis of the North American Generator Set Rental Market is part of the Energy & Power Systems Growth Partnership Services program, which also includes Global Diesel Generator Set Market and Global Gas Generator Set Market research. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the North American Generator Set Rental Market / NADD-14