Power rental is a kind of service provided to people, who need to use generators but don't have any source of power supply. These people hire power plants and other forms of generators and power them so that they can work efficiently without any hindrance. In recent times there has been a rapid growth in the number of companies that provide the service of power rental. There are many reasons behind this growth like people are now becoming more conscious about their financial security and are taking all possible steps to stay away from disasters. So, to keep people safe from any kind of disaster they should invest in generators, alternators, batteries, and other supplies that can power up the appliances that users use most.
The growth of construction companies all around the world is the main factor that is boosting the growth of the global power rental market. For instance, according to the Builders’ Association of India, in India, there are 200 construction companies in the corporate sector. Along with that, there are around 120,000 class A contractors in the region, who are registered with several federal construction bodies. Moreover, the key market players are strategizing various mergers and launching various products, which is boosting the growth of the global power rental market.
There are several companies today that offer this service. They rent out massive amounts of electricity for those homeowners who cannot afford to purchase or even install a power-generating system in their homes. Some companies even allow people to rent the units as long as they return them after the agreed period of time with the payment in full. Companies that provide services to both commercial and residential customers are entrusted by the government bodies with providing emergency power supply. They have a wide range of generators, alternators and other supplies which are used in almost every part of the world. The main products which these companies provide include diesel-powered generators, high-pressure sodium pumps, condenser repair, high-pressure sodium pumps, and solid oxide semiconductor transfer. They also specialize in the windmill and solar power rental. However, the strict laws related to reducing the emission from equipment powered by fossil fuels are the main restraining factor that is hindering the growth of the global power rental market.
Owing to the rapid expansion of the construction sector in the region, North America is witnessing high demand in the global power rental market. For instance, according to the Construction Management Association of America, there are more than 700,000 construction companies in the United States. Moreover, the presence of key market players in the region is also boosting the growth of the global power rental market. Owing to such factors, there have been various industrial developments in the global power rental market. For instance, in May 2021, Moxion Power Raised US$ 10 million in funds in order to electrify the construction industry.
No comments:
Post a Comment