According to IMARC Group latest report titled “Europe Power Rental Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on Europe Power Rental market report. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Europe power rental market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
What are power rental?
Power rental, also called power on hire, refers to the facility of renting generators or power plants for supplying energy to industrial units. It includes several functioning power equipment and various scalable components installed in power stations that provide additional energy to industries and support communities. It is more effective than the purchased generators as it offers flexibility in the power rating required, reliability, speed, and cost-effectiveness to businesses for coping with temporary power shortages.
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What are the growth prospects and trends in the power rental industry?
The Europe market is majorly driven by the rising demand for uninterrupted power supply. This is due to limited access to the leading transmission network along with increasing instances of unreliable power supply generated through small-scale power grids. In addition to this, the requirement for scalable rental equipment is rising in order to overcome the problems associated with voltage swells and sags and power outages, coupled with growing awareness regarding the benefits of outsourcing power equipment is positively influencing the market. Moreover, the introduction of natural gas-based power generators and the deployment of renewable systems as an alternative power source due to an enhanced focus on sustainable development among individuals is creating a positive market outlook. Some of the other factors driving the market further include rapid industrialization and the rising need for energy across commercial and industrial premises.
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Europe Power Rental Market Segmentation:
Our report has categorized the market based on country, fuel type, equipment type, power rating, application and end use industry.
Breakup by Fuel Type:
- Diesel
- Natural Gas
- Others
Breakup by Equipment Type:
- Generator
- Transformer
- Load Bank
- Others
Breakup by Power Rating:
- Up to 50 kW
- 51 –500 kW
- 501 –2,500 kW
- Above 2,500 kW
Breakup by Application:
- Peak Shaving
- Standby Power
- Base Load/Continuous Power
Breakup by End Use Industry:
- Utilities
- Oil Gas
- Events
- Construction
- Mining
- Data Centers
- Others
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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