Market Trends

Surging Power Rental Market in Australia and New Zealand Set for Steady Growth Through 2030

DUBLIN, March 6, 2024 /PRNewswire/ -- The comprehensive report titled "2024 Australia & New Zealand Power Rental Market" has recently been incorporated into the extensive collection at ResearchAndMarkets.com.

In a revealing study of the power rental market dynamics in Australia and New Zealand, findings showcase that the sector has reached an impressive valuation of $570.1 million USD as of the year 2023. This sector is on a trajectory to climb higher, with a robust compound annual growth rate (CAGR) of over 3.5% predicted from the span of 2023 to 2030.

The report is meticulous in breaking down various facets of the power rental market in these regions, focusing on the inflow of revenue from companies that are active within this specific market. The document revolves around the base year of 2023 and extends its detailed forecasting all the way to 2030.

A constellation of driving forces is identified as the propellants for the market growth. Among them, concerns about the reliability of the power grid, underinvestment in power infrastructure, and an upsurge in demands from thriving sectors such as construction and entertainment are notable. Additionally, the unpredictability of weather-induced incidents, a societal trend toward electrification, and the need to integrate fluctuating electricity sources are influencing the market's expansion.

Looking forward into the forecast period, the landscape seems rife with opportunities for power rental enterprises. One can expect advancements, particularly in hydrogen production and data center expansion. However, the industry must navigate through headwinds such as fierce competition, economic downturns, a scarcity of skilled workers, and logistical issues that could potentially hinder the growth trajectory.

The report further highlights groundbreaking trends within the industry such as the implementation of telematics, initiatives toward decarbonization, utilization of hybrid generator sets, and a gradual shift towards battery energy storage systems. Currently, diesel commands a dominant share, accounting for 88.6 percent of rental generators in Australia and New Zealand. However, the predictive outlook sees a pivot towards greener technologies as industries strive to align with stringent emission regulations.

Diving into the market specifics, the mining sector emerges as a significant stakeholder in the consumption of power rental services in both countries, with the construction industry trailing closely behind. This dynamic market is piloted by key industry players including Aggreko plc, Caterpillar Inc., Coates Group Holdings Pty Limited (Seven Group Holdings), and Kohler Co. (Clarke Energy).

Market Outline and Future Projections

This comprehensive study encapsulates:

• Market sizing, including projections on growth rates and revenue for the period of 2023-2030.
• Investigation into market driving forces as well as barriers.
• Detailed data sets relevant to the market.
• Commentary from key industry spokespeople.
• Market share examination.
• Trend analysis within the market.

Segment Breakdown and Executive Insights

Diving deeper, the analysis segments the market into categories based on end-user, application, fuel type, and equipment output range, thus offering a granular view of the industry. The executive summary furnishes a synopsis of the key findings, highlighting revenues by end-user, key data points, significant market trends, the primary drivers and restraints, and an overview of the main market participants.

Glimpse Into Future Opportunities and Recommendations

The investigation unravels a series of potential opportunities and strategizes recommendations, which are crucial for stakeholders to steer the tides in their favor. It painstakingly lays the foundation for the market drivers anticipated to fuel growth, counterbalances these with a realistic examination of potential market restraints, and outlines the ongoing and emerging market trends that include:

• Technological integration in telematics.
• Significant developments earmarked for decarbonization.
• The ascendancy of hybrid generator sets.
• An increasing preference for solar-powered generators.
• Rising demand for battery storage systems.
• An uptick in silent generator demands.
• Strategic alliances and collaborations.

Market Dynamics and Statistical Insights

The dossier delves into market data, predicting total market revenue and partitioning the market share by critical segmentation factors such as segment type, end-user demographics, fuel preferences, equipment output, and applications.

Examination of the Competitive Landscape

The report's comparative analysis of the competitive landscape informs of market shares controlled by companies and examines factors that sharpen the competitive edge among industry players.

Corporate Profiles

Broaching the subject of company profiles, the report dedicates a section to key players such as Aggreko PLC, Caterpillar Inc., and Coates Group Holding Pty. Limited, delivering insights into each company's market presence and strategic roles.

Country-Specific Analyses

The report offers a meticulous breakdown for both Australia and New Zealand, charting out specific forecasts regarding market revenues, shares per end-user, fuel, output, application, and company stakes within each country's individual markets.

Analyst Expertise

A part of the report is dedicated to the analyst responsible for the research, underlining their expertise and role in the crafting of the market study.

Company Selection Included in This Report

An array of companies is mentioned in the report, providing a sense of the extensive nature of the market. Alongside Aggreko plc, companies like APR Energy (Atlas Corp.), Atlas Copco, Blue Diamond Machinery Pty. Ltd., East Coast Generators, Generator Rental Services Limited, Hirepool Ltd., Kennards Hire Australia, and Kohler Co. (Clarke Energy) are featured, indicative of the diverse players contributing to the market ecosystem.

For further details and insights into the "Australia & New Zealand Power Rental Market", you can follow the link provided: Australia & New Zealand Power Rental Market Report.

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