According to the latest report by IMARC Group, titled “ Europe Power Rental Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the Europe power rental market size reached US$ 4.3 Billion in 2022. Power rental, also known as temporary power or generator rental, refers to the practice of leasing or renting electrical power generation equipment on a short-term basis to meet temporary or emergency electricity needs. This service is provided by specialized power rental companies to various industries, businesses, events, construction sites, disaster-stricken areas, and other situations where a reliable and temporary power supply is required. Power rental solutions typically involve the rental of diesel generators, gas generators, transformers, load banks, distribution panels, and related accessories. These power systems come in various sizes and capacities, allowing clients to tailor the rental equipment to their specific power requirements. The rental duration also depends on the client's needs. This flexibility, convenience, and reliability make power rental a cost-effective and practical solution for bridging the gap in the power supply.
Europe Power Rental Market Trends:
The power rental market in Europe is experiencing significant growth, impelled by the increasing demand for a reliable and uninterrupted power supply in various industries. Besides this, the region's industrial sector heavily relies on a stable electricity source to maintain production, and any disruptions can result in substantial financial losses, creating a positive outlook for market expansion. Moreover, power rental services provide an essential backup during scheduled maintenance, unexpected outages, or periods of peak demand, ensuring continuous operations and reducing downtime. Furthermore, the bolstering growth of the construction industry, with construction projects often taking place in remote locations or areas with limited access to the power grid, is contributing to the surge in power rental demand. Concurrent with this, the increasing organization of concerts, festivals, sports events, and corporate gatherings that require substantial electricity to power lighting, sound systems, and other equipment is aiding in market expansion. Additionally, the surging adoption of renewable energy sources in the region and its commitment to reducing carbon emissions and moving towards a more sustainable energy landscape is influencing the market growth. Looking forward, the market value is projected to reach US$ 5.9 Billion by 2028, expanding at a CAGR of 5.4% during 2023-2028.
- On the basis of the fuel type, the market has been divided into diesel, natural gas, and others.
- Based on the equipment type, the market is classified into generator, transformer, load bank, and others.
- On the basis of the power rating, the market has been segregated into Up to 50 kW, 51 - 500 kW, 501 - 2,500 kW, and above 2,500 kW.
- Based on the application, the market is categorized into peak shaving, standby power, and base load/continuous power.
- On the basis of the end use industry, the market has been distinguished into utilities, oil & gas, events, construction, mining, data centers, and others.
- Based on country, the market has been segmented into Germany, France, the United Kingdom, Italy, Spain, and others.
- The competitive landscape of the industry has also been examined, covering the competitive structure and key player profiles.
|Base Year of the Analysis
||Fuel Type, Equipment Type, Power Rating, Application, End Use Industry, Country
||Germany, France, United Kingdom, Italy, Spain, Others
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