Middle-East And Africa Power Rental Market Size Share 2023 I...| MENAFN.COM

Thursday, 02 February 2023 04:03 GMT

Middle-East And Africa Power Rental Market Size Share 2023 Industry Trends And Growth Insights Major Key Company Analysis, Development Plans, Latest Technologies, And Size Forecast Till 2033


(MENAFN- America News Hour)

The power rental market in the Middle-East and Africa is expected to grow at a CAGR of more than 9.68% over the period. The growing demand for power rental market in the Middle-East and Africa is driven by the increase in demand for power in the region and development in construction and industrial activities. However, expansion of power distribution networks and rising development in renewable energy projects are expected to act as a restraint for the market growth.
– Utilities are expected to have a major share among the entire end-user segment in the Middle-East and Africa power rental market during the forecast period.
– Permanent power producer inability to meet the power demand in regular periods and especially during extremely hot weather conditions are considered as opportunities for the Middle East and Africa power rental market.
– Middle-East has dominated the power rental market, with the majority of the demand coming from the countries like Saudi Arabia, the United Arab Emirates, and Qatar.

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Key Market Trends
Utility Segment to Dominate the Market

– The utility sector is expected to dominate the power rental market during the forecast period.
– This can be attributed to the supply of rented power by utility companies for conversion or redevelopment process with the aging network of thermal power plants across the region, the demand for rented power is projected to grow in the utility sector.
– Expanding power utilities and manufacturing sectors in the Middle-East region would also play an important role in the Middle-East power rental market revenue as the majority of the countries in the region are diversifying their economies and strengthening the non-oil sectors.
– Therefore, based on the above-mentioned facts, the utility segment is expected to dominate the power rental market in the Middle-East & Africa region over the forecast period.
Increasing Power Demand to Drive the Market
– The Middle-East is one of the largest markets for power rental industry. The region which showed decent growth in the last 10 years accounted for more than 50% of the global market in 2018.
– Growing population, urbanization, and customized standards of living are seen improving in the Middle Eastern countries which, in turn, are likely to increase the demand for power in the coming years. Grid networks being poor in certain areas, power rentals would emerge as a feasible option to meet end-user requirements.
– After the 2015 oil crash, many countries in the Middle East region have started focusing on diversifying the economy towards non-oil sectors and during this pandemic, this provides an opportunity for construction and manufacturing sectors.
– Such developments would surge the demand for diesel generators and would thereby impact the growth of the power rental market in the Middle East region positively.
– Additionally, government initiatives such as Saudi Vision 2030, UAE Vision 2021, Bahrain Vision 2030 and Turkey Vision 2030 would lead to growth in demand for power rental in the Middle-East region.
– Therefore, based on the above-mentioned facts, Middle-East is expected to witness significant growth for power over the forecast period.

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Competitive Landscape
The Middle-East power rental market is moderately fragmented. Some of the key players in this market include Aggreko Middle East Ltd, Byrne Equipment Rental LLC, Rental Solutions & Services LLC, SES SMART Energy Solutions FZCO, and KPS Power Generation.

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD million,
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION

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