Do you think football just delivers healthy entertainment to spectators and glory to players, clubs or nations? Well, you are right, but partially.
Apart from entertainment and glory, the mega event associated with football—World Cup (WC)—has been presenting numerous opportunities for businesses and Power Rental Market (PRM) is probably the one at the top. The PRM has been surging most of the time with the happening of the mega event. And this time the wave of PRM optimism is directed towards Middle East especially, Qatar. Why?
For next four years, Qatar is featuring as one of the lucrative destinations for PRM players because the country is hosting FIFA World Cup in 2022. The ongoing extensive development projects like the construction of stadiums, transportation network, development of hospitality sector, etc. are fueling the growth of power rental business in the country.
In order to accomplish the WC successfully, the country has invested more than US $200 billion in different sectors. Due to this the market of power rental is expected to grow at over 20% CAGR till 2022 witnessing significant growth in rental equipment especially gensets—diesel and non-diesel.
With the ease of availability, diesel genset market has captured large proportion of the market share. On the other hand, in non-diesel genset rental market, gas-powered equipment has been generating major proportion of revenue in this Gulf nation. It (gas-based gensets) is estimated to grow further because Qatar is gas rich nation.
Of more than 50 global market players in the segment of PRM, less than 10 key participants—Aggreko, Hertz, Byrne Investments, JTC, RSS, etc.—are actively involved in the country. Mostly, they have been supplying the gensets rating 100.1KVA to 350KVA and 350.1 KVA to 750 KVA as these gensets are used extensively for multiple applications.
Besides, the upcoming World Expo scheduled in 2020 in United Arab Emirates (UAE) will also propel the market of power rental in the Middle East. In UAE, it is expected to grow at around 17% CAGR by 2021. Whereas, Saudi Arabia’s initiation to reduce green-house emission is projected to lead the PRM at around 16% CAGR in the country.
Hence, the opportunities exposed by the countries in PRM sphere in the Middle East, especially Qatar with WC project, have once again offered a chance for key PRM players to come up as a victor like Aggreko. It (Aggreko) emerged as a winner among key PRM players and dominated the market of power rental in Brazil when Germany clinched the World Cup title in this South American nation in 2014.
For more information on “Evolving Trends in the Global Power Rental Market, Forecast to 2021” please visit https://store.frost.com/evolving-trends-in-the-global-power-rental-market-forecast-to-2021.html
Subarna Poudel is a researcher with Frost & Sullivan. He can be reached at email@example.com
Sapan Agarwal drives content and marketing for Frost & Sullivan. Sapan is based out of Kuala Lumpur Malaysia and can be reached at firstname.lastname@example.org | +603 6204 5830