SAN ANTONIO, Feb. 10, 2016 (GLOBE NEWSWIRE) -- In a new analysis by Verify Markets, Africa’s Power Rental Market was valued at $1,614.3 million in 2015, with major contributions coming from Mozambique, South Africa, Angola, Nigeria, Egypt and Tanzania. Low power availability and high power demand in most African nations makes the African continent a sizable market for power rental companies. Power rental companies provide immediate solutions for the power deficit through their temporary power plants, which supply power while the nations develop permanent power plants for long-term use. Many African nations rely on hydroelectric plants. During droughts, when they lack water for power generation, power rental companies fill the gap by providing power for the term of drought.
Mozambique, with a large 232 MW temporary power plant at Ressano Garcia, had the largest power rental market among all the nations in the continent in 2015. Almost all of the major power rental companies, including Aggreko Plc, APR Energy Plc, and Caterpillar Inc. (through its dealers), among others, are actively catering the power rental market of African nations. National power utilities, or power supply companies, act as the major consumer of power rental companies’ services to meet their power demand.
“I believe that Africa's market is a growth market. Many nations and companies are investing their time and money in the continent's growth,” says analyst Rohit Nema. “Currently, Africa is building its power infrastructure and resources to fuel future growth. Power rental companies offer quick fixes to power problems and can help the continent by providing a temporary solution for next five to ten years, at least. Mozambique, Nigeria, Tanzania and Angola are among the major power devoid nations in the continent, which are growing at a rapid pace with significant utilization of power rental companies' services.”
Generators that supplied more than 1 MW contributed the most to Africa’s power rental market in 2015. This is due to the huge power demand across many African nations with continuous power applications, providing the major portion of the revenues for the power rental market on the continent.
The future outlook of the continent’s power rental market looks promising with the markets of major countries expected to grow at more than 10 percent, year on year, during the next seven years. For further details and to discover more about the continent’s power rental market, please go through our report on the ‘African Power Rental Market.’ For more reports on the power rental market, you can visit http://www.verifymarkets.com/collections or, email us at email@example.com. Follow us for more updates on Twitter: @verify_markets and LinkedIn: https://www.linkedin.com/company/verify-markets.
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Source: Verify Markets