Europe Power Rental Market 2022: Industry Drivers, Opportunity, Growth and Forecast by 2027
According to IMARC Group latest report titled “Europe Power Rental Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on power rental market in Europe. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Europe power rental market size reached US$ 4.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.6 Billion by 2027, exhibiting a growth rate (CAGR) of 5.54% during 2022-2027.
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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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:
- Natural Gas
Breakup by Equipment Type:
- Load Bank
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:
- Oil & Gas
- Data Centers
Breakup by Country:
- United Kingdom
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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