The new report by Expert Market Research titled, ‘Europe Power Rental Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Europe power rental market, assessing the market based on its segments like fuel type, rating, application, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 8%
Increased power loss owing to ageing infrastructure and limited access to electricity in rural regions are the key drivers for the European power rental business. The market’s expansion may be hampered by the slowing of economies and the volatility of raw material costs. During the forecast period, the construction, mining, and industrial industries in countries such as Russia, the United Kingdom, Germany, the Netherlands, Italy, and Belgium are likely to drive the European power rental market.
Industry Definition and Major Segments
The facility of temporarily renting power plants or generators for supplying energy to industrial units is referred to as power rental. It provides operational power equipment as well as a variety of scalable components for power stations. It also provides businesses with the reliability, flexibility, speed, and cost-effectiveness they need to deal with power outages. The power rental services are designed to help utilities stabilise their power grids while also providing additional energy to businesses and communities.
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The industry can be divided based on fuel type as:
The industry can be divided based on rating as:
• Up to 50 kW
• 51–500 kW
• 501–2,500 kW
The industry can be divided based on its application segments as:
• Peak Shaving
• Standby Power
• Base Load/Continuous Power
The industry can be broadly categorised based on its end-use sectors into:
• Oil and Gas
• Data Centres
The regions for Europe power rental market include:
• United Kingdom
Russia is expected to lead the European power renting sector throughout the predicted period. The growth of the IT and healthcare industries in Russia is important for the development of the European power rental industry. The rising oil and gas exploration and manufacturing activity in Russia is driving the power rental business.
The diesel sector is expected to have the largest market share by 2026, owing to its widespread use in the manufacturing, healthcare, oil & gas, maritime, and IT / telecom industries. The easy availability of fuel, the ease of transportation and storage, and the rapid response to load changes are all expected to drive the diesel energy leasing business forward.
Key Market Players
The major players in the market are Aggreko, Caterpillar (NYSE: CAT), Atlas Copco, Bredenoord, Loxam, Boels Rental, Zwart Techniek, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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