Middle East power rental market is projected to grow at a CAGR of 3.1% during 2019-25

After the 2015 oil crash, many countries in the Middle East region have started focusing on diversifying the economy towards non-oil sectors and have heavily invested in infrastructure, construction and manufacturing sectors. Such developments would surge the demand for diesel gensets and would thereby impact the growth of power rental market in the Middle East region positively.

According to 6Wresearch, Middle East Power Rental Market is projected to grow at a CAGR of 3.1% during 2019-25. Growth in construction industry, emerging manufacturing sector, rising electricity demand and need to provide power to off-grid areas are spurring the market for power rental market in the region. In Middle East region, generators are either used for prime or standby purposes, completely depending upon the grid connectivity.

According to Ravi Bhandari, Research Manager, Research and Consulting, 6Wresearch, "The power rental market in the region witnessed a major decline during the oil crisis, which impacted and delayed various construction and public infrastructure projects in the region."

"Upcoming national initiative programs, such as Saudi Arabia Vision 2030, Qatar Vision 2030 and Bahrain Vision 2040, along with global events such as World Expo 2020 and FIFA World Cup 2022, would significantly drive the market for power  rental over the coming years, " Ravi further added.

According to Prithu Chawla, Research Associate, Research and Consulting, 6Wresearch, " In Middle East, diesel generators captured majority of the market share in the overall power rental market. Easy availability, inexpensive diesel and high fuel efficiency have poised the growth of diesel gensets on rent in the region; however, during the forecast period, hybrid and gas-powered generators are likely to enter the market. Government initiatives towards reducing carbon emissions are expected to boost the demand for these generators in various countries. "

"The Middle East power rental market would witness significant growth during the forecast period as there is an increasing preference for renting diesel gensets rather than owning them due to lower investment cost, no maintenance and limited downtime risk, " Prithu further added.

Some of the major companies in Middle East power rental market include- Aggreko, Byrne Equipment Rental, Rental Solutions & Services LLC, Altaaqa Global, Peax Equipment Rental and Atlas Copco.

"Middle East Power Rental Market (2019-2025)" report provides an in-depth analysis with 180 figures and 29 tables, covered in more than 270 pages. The report estimate and forecast the overall Middle East power rental market by kVA rating, countries and applications such as power utilities, oil & gas, construction, manufacturing and others. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.