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Europe Power Rental Market Size to Dominate Worldwide by 2026

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According to the Graphical Research new growth forecast report titled “Europe Power Rental Market Size By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By Fuel (Diesel, Gas, Others), By End-Use (Telecom, Data Center, Healthcare, Oil & Gas, Electric Utilities, Offshore, Manufacturing, Construction, Mining, Marine), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Country Outlook (Germany, UK, Italy, France, Spain), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” to Dominate Worldwide by 2026.

Europe Power Rental Market Share will undergo rapid growth on account of the unreliable grid infrastructure along with emerging trends in real estate. The expansion of the telecom sector is anticipated to complement the business scenario. Major corporations relying heavily on power rental as a strategic stance along with the growing demand for reliable & uninterrupted power supply specifically from remote regions will propel the business scenario.

Recovering post the second quarter, the global economy will realize the impact of COVID-19 pandemic. The rampant rise in production along with the pent-up demand will augment the product adoption. Growing number of orders from the industrial and the commercial sector along with surge in construction & infrastructure development is anticipated to stimulate the industrial scenario.

Prime or continuous will witness rapid surge on account of the broad application across industries including oil & gas, marine, mining and construction. Rising demand specifically from the mining and the O&G industries on account of the shale gas revolution will stimulate the business landscape. Additionally, customer preference toward viability and suitability and hence the rising popularity of powerful units will encourage the product adoption.

Diesel is projected to witness high growth on account of its ease of availability coupled with the high efficiency rate. Low acquisition cost associated with the product coupled with its impressive energy density and longer shelf life are some of the key factors positively impacting the product deployment. Although rising environmental concerns among individuals and institutions alike act as a major hinderance, the steady development of anti-emission technologies has augmented the business scenario.

Mining will constitute of a major market share owing to the limited grid connectivity across operation sites, considering these operations happen in remote areas. The continuous demand for reliable and uninterrupted power supply for power communication systems and jobsite equipment among others will strengthen the market growth.

Few key players in the market are increasingly directing investments toward developing rental schemes to attract new customers and expanding their customer base and product offerings. Essential strategies adopted by the market players in the industry include backward integration and realizing economies of scale to acquire greater market share. Some of the major players in the market are Wärtsilä, Atlas Copco, Ingersoll Rand, Wagner, Generac, and Kohler amongst others.