Middle East and CIS Power Generator Rental Market to Hit $4.56 Billion by 2028; Increasing Demand for Reliable Standby Power Solutions to Fuel the Market: Fortune Business Insights™
List of the Companies Profiled in the Market Are- Saudi Emarati Electric Power Generators Co. (Saudi Arabia), U-Power Generation (FZC) (UAE), Byrne Equipment Rental LLC (UAE), Cummins Inc. (United States), Caterpillar Inc. (United States), Saudi Diesel Equipment Co., Ltd. (Saudi Arabia), Sudhir Rentals (India), Generac Power Systems (United States), Atlas Copco (Sweden), Aggreko (United Kingdom)
Pune, India, April 12, 2021 (GLOBE NEWSWIRE) -- The Middle East and CIS power generator rental market size is projected to reach USD 4.56 billion by 2028, exhibiting a CAGR of 8.7% during the forecast period, states Fortune Business Insights™ in its report, titled “Middle East and CIS Power Generator Rental Market, 2021-2028”. The report also states that the value of the market stood at USD 2.54 billion in 2020.
Rising Investments in Renewables in the Middle East to Boost Market Growth
The oil-rich countries of the Middle East are taking active steps to wean their economies off the dependence on hydrocarbons to renewable, clean energy sources. As a result, investments in renewables in Middle Eastern countries have been steadily increasing. According to the International Renewable Energy Agency (IRENA), the Arab countries invested just USD 1.2 billion in renewables in 2008; in 2016, these investments stood at USD 11 billion in the region. Similarly, in its World Energy Investment Report 2020, the International Energy Agency (IEA) has reported that countries in the Middle East have reduced their spending on gas-fired power generation systems. Power generator rental solutions will experience surging demand as the Middle East transitions to clean energy as these solutions will provide strong power backup, which will be needed since energy from renewables is not continuously available.
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The COVID-19 pandemic outbreak has had a negative impact on the Middle East and CIS power generator rental market growth as several countries in these regions underwent, or are still undergoing, a complete lockdown of economic activities. Dubai, for instance, imposed a fresh lockdown in February 2021, ordering major commercial spaces to shut down to contain the coronavirus. Such lockdowns, along with social distancing measures, have contracted the demand power generator rental services, causing the market to decline by 11.99% in 2020 and to reach a value of USD 2.79 billion in 2021.
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Based on power rating, this market has been divided into below 75 kVA, 75-375 kVA, 375-750 kVA, and above 750 kVA. On the basis of fuel type, the market has been trifurcated into diesel, gas, and others. Among these, the diesel segment led the market in 2020 with a share of 80.1%. In terms of application, the market’s segments include continuous load, standby load, and peak load. By end-user, the market has been segregated into telecom, banking, mining, data center, construction, manufacturing, tourism, and others. On the basis of region, the market is grouped into the Middle East and CIS Countries.
Highlights of the Report
The report offers valuable and tangible insights into the market drivers, trends, opportunities, and hindrances and also provides a detailed study of all market segments, individually and collectively. Moreover, the report contains a comprehensive analysis of the regional dynamics influencing market growth and incorporates a microscopic evaluation of the key players’ profiles and growth strategies.
Abundance of Minerals in Central Asia to Boost the Market
Central Asian countries, which form the core of the Commonwealth of Independent States (CIS), are extremely rich in minerals and metals, making them the hotspot of mining activities. For example, Kazakhstan is the largest producer of uranium in the world, accounting for more than 40% of the global uranium production. As a result, the country has been attracting a lot of foreign investment in its mining and quarrying sector. Similarly, Uzbekistan is also one of the world’s top producers of gold and uranium and has cultivated a highly profitable mining industry. Large-scale mining activities require a continuous and stable power supply and power generator rental solutions provide the ideal solution in this regard, as they remove the need for heavy upfront expenditures and also eliminate costs related to equipment maintenance. Thus, the extensive mining operations set to be conducted in CIS countries will create a plethora of opportunities for market players.
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Improving Commercial Infrastructure to Aid the Market in the Middle East
The Middle East is expected to dominate the Middle East and CIS power generator rental market share during the forecast period owing to the massive investments by countries in the region to augment their commercial infrastructures. The main aim behind these investments is to pull foreign investments and attract tourists to the region. The region’s market size was USD 1.96 billion in 2020. In the CIS region, the increasing installation of renewable energy technologies and the growing demand for heavy-duty mining operations are anticipated to fuel the demand for power generator rental systems. Russia’s rapidly growing telecom sector is also foreseen to produce lucrative market opportunities.
Regional Partnerships by Key Players to Intensify Market Competition
In a bid to establish their presence in the thriving power generator rental domain in the Middle East and CIS countries, key players in this market are increasingly collaborating with regional companies. These partnerships are enabling companies in the power industry to secure an advantageous position in the emerging markets of the Middle East and Central Asia.
January 2021: Energia MTC, a top power rental equipment provider in Saudi Arabia, teamed up with Atlas Copco to develop and deliver comprehensive power solutions for operations in the modular power, industrial, oil & gas, and construction sectors in the Middle East. Energia has purchased Atlas’s 107 QAS generators.
List of Key Players Covered in the Middle East and CIS Power Generator Rental Market Report:
Saudi Emarati Electric Power Generators Co. (Saudi Arabia)
U-Power Generation (FZC) (UAE)
Byrne Equipment Rental LLC (UAE)
Cummins Inc. (United States)
Caterpillar Inc. (United States)
Saudi Diesel Equipment Co., Ltd. (Saudi Arabia)
Sudhir Rentals (India)
Generac Power Systems (United States)
Atlas Copco (Sweden)
Aggreko (United Kingdom)
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Table Of Content
Definitions and Assumptions
Key Emerging Trends – For Major Countries
Latest Technological Advancement
Industry SWOT Analysis
Porters Five Forces Analysis
Qualitative Analysis – Impact of COVID-19
Impact of COVID-19 on the Power Generator Rental Market
Steps Taken by the Government to Overcome the Impact
Key Developments in the Industry in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Average Price of Power Rental, 2020
By Power Rating
Above 750 kVA
Middle East Power Generator Rental Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Power Rating
Below 75 kVA
Above 750 kVA
Market Analysis, Insights and Forecast – By Fuel Type
Market Analysis, Insights and Forecast – By Application
Market Analysis, Insights and Forecast – By End-user
Market Analysis, Insights and Forecast – By Country
United Arab Emirates
Rest of Middle East
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