Europe Power Rental Market Share is anticipated to undergo rapid growth owing to the rising need for reliable & continuous power supply coupled with investments being directed toward infrastructure development. Power rental is a strategic tool used to remove the risk of depreciation & amortization costs. Additionally, the existing grid infrastructure that needs upgradation beckons the need for an overall overhaul which is projected to complement the business landscape.
The global economy is still realizing the effects of the COVID-19 pandemic on account of complete standstill of various economic verticals coupled with the staggering loss of productivity. However, after recovering from the economic impact, coming out of the second quarter, increasing requirement for new projects and the pent-up demand in the pipeline will encourage the market outlook.
75-375 kVA will witness significant growth owing to the rising demand for continuous and uninterrupted power supply from the infrastructure development industry. Rise in projects across the board coupled with the numerous restrictions and challenges faced when shipping equipment to remote regions will complement market outlook. Additionally, increasing rate and the subsequent rise in costs of data center power outages coupled with the downtime will positively impact the product adoption.
Gas will undergo rapid growth on account of the rising environmental awareness among individuals along with strict government regulations focused toward emission reduction. Changing customer preference toward economic viability and suitability will boost the market growth. Rising investments toward the development of clean/green alternatives and the advancements in hybrid technologies will further augment the business scenario.
Germany will witness high growth rate owing to the rising number of blackouts coupled with increasing investments toward overhaul of aging power infrastructure. Weather related disasters in this region provide additional lucrative opportunities for the product. The massive construction projects and the flourishing commercial sector will further propel the power rental industry growth.
Various market players are focusing towards developing attractive rental schemes and expansion of their product portfolio to acquire or maintain competitive advantage. Key strategic moves including backward integration and realizing the economies of scale will allow the players to maintain a foothold in the competitive market. Key players in the industry include Caterpillar, Kohler, Atlas Copco, Cummins, Wagner, Wärtsilä, and Generac amongst others.