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 onpower rental marketin Europe. 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 themarket 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 includes the practice of renting or leasing temporary power generation equipment and related services to meet the temporary or emergency energy needs of individuals, businesses, and industries. It is a flexible solution that offers a dependable and effective source of electricity when there is a need for extra power or a lack of power supply. Due to its capacity to provide speedy and adaptable solutions in circumstances such as power outages, building projects, industrial shutdowns, events, distant areas, and disaster relief operations has grown significantly in relevance. It entails the utilization of several different pieces of machinery, including transformers, load banks, distribution panels, cables, and diesel or gas generators.
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What are the growth prospects and trends in the power rental industry?
The rising demand for reliable and uninterrupted power supply majorly drives the market in Europe. This can be supported by the heavy reliance of industries, businesses, and individuals on electricity to run their operations smoothly. Along with this, the widespread adoption of power rental for construction projects is significantly supporting the market as they require a temporary power supply for various activities such as lighting, tools, machinery, and site offices. In addition, increasing infrastructural development projects, such as highways, bridges, railways, and airports are acting as another growth-inducing factor. Apart from this, the rising frequency and intensity of natural disasters are also contributing to the market. Furthermore, the growing trend of decentralized power generation and renewable energy sources is creating a positive market outlook.
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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)
- Porters 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.
IMARCs 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 companys expertise.
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