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Prime Power Application in the Construction and Utilities Sectors Bolster Demand Levels in the APAC Power Rental Markets Finds Frost & Sullivan - The APAC power rental market is exhibiting strong potential for growth owing to the slump in ownership demand for generator sets, and the rising demand for prime power applications from the utilities and construction sector
Prime Power Application in the Construction and Utilities Sectors Bolster Demand Levels in the APAC Power Rental Markets Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Singapore, Singapore, 2009/11/11 - The APAC power rental market is exhibiting strong potential for growth owing to the slump in ownership demand for generator sets, and the rising demand for prime power applications from the utilities and construction sector.

   
 
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The lack of reliable power supply from the utility grid to the vast majority of islands in the region has kept market prospects upbeat. In addition, rental power units are used for peak shaving power requirements during extreme climatic conditions. Easy availability as well as accessibility of the diesel power rental equipment enables end users to use rental power to meet their short-term requirements, significantly reducing capital expenditure.

New analysis from Frost & Sullivan (energy.frost.com), APAC Power Rental Markets, finds that market earned revenues of over $221.2 million in 2008 and estimates this to reach $326.2 million in 2015.

"The trend of the market indicates sustained demand from countries such as Philippines, Indonesia, and Vietnam because of the inadequate power infrastructure as well as from Australia due to the difficulty of extending the utility grid in remote areas," says Frost & Sullivan Industry Analyst Suchitra Sriram. "On the other hand, excellent utility grid coverage in countries such as Malaysia, Singapore, Thailand, Japan and South Korea has largely confined the use of power rental units to the construction and events and entertainment sectors."

Increasing awareness among end users on meeting short-term power requirements by deploying cost effective power rental units is also spearheading the overall growth of the market. The power sector in the APAC region is highly dynamic and the demand for distributed power generation equipment, including power rental units varies accordingly. The mature market is highly price competitive and companies in this space must maintain an extensive fleet of rental equipment, a strong distribution network, high availability of spare parts, and on-time delivery of equipment. Also, providing value added maintenance services is of utmost importance.

The prevailing bleak economic conditions are clouding the outlook for the market. From the latter half of 2008, the effects of the economic downturn percolated into the Asian countries impacting the construction and mining industries and slowing down the power rental market. As many major markets have been put on hold, it has become difficult for companies operating in this space to gain new contracts.

"The power rental industry is capital-intensive, with the distribution infrastructure and servicing of equipment requiring huge initial investment by the rental companies," says Sriram. "Intense competition in the market has led to falling rental rates, leading to very low profit margins for the industry participants."

Decreasing return on investment is a huge impediment, forcing existing participants to withhold their investment and expansion plans. Moreover, the stable utility grid and the preference for ownership of equipment rather than renting have restricted the penetration of power rental units. Another factor constraining the market is the presence of highly localized companies which pose a challenge to key multinational rental companies.

To sustain in this highly competitive market, it is imperative for rental companies to offer excellent value added services. Rental companies that are well equipped to provide on-site maintenance, engineering consultancy, guaranteed performance, and prompt replacement of faulty equipment are in a better position to secure repeat business. In order to comply with emission regulations, rental companies must continuously upgrade and renew their rental fleet. Although the immediate prospects for the market look lackluster, the overall industry scenario looks positive beyond 2010.

If you are interested in more information about this study, then send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

APAC Power Rental Markets is part of the Energy and Power Growth Partnership Service program, which also includes research in the following markets: Asia Pacific Low Voltage Switchgear Market, Asia Pacific Stationary and Portable Fuel Cell Market, Asia Pacific Medium and High Voltage Switchgear Market, SEA CDM Market – Opportunities for Equipment Suppliers, APAC Generator Sets Markets, Asia Pacific Automatic Meter Reading Market, Energy Management in Oil Refineries, and Southeast Asian Transmission & Distribution Cables Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.

APAC Power Rental Markets / P2E0

 
 
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Prime Power Application in the Construction and Utilities Sectors Bolster Demand Levels in the APAC Power Rental Markets Finds Frost & Sullivan

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