In a comprehensive analysis by Verify Markets, the European power rental market is poised for substantial growth, with market size escalating from $1,740.2 million in 2023 to over $2.0 billion by 2030. The commercial segment, which includes construction, leads as the largest end user, accounting for over 25.0% of the market share in 2023, followed by utilities and industrial sectors, respectively.
Growth in the European power rental market is primarily driven by the aging infrastructure of power grids across Europe, the tangible benefits of renting over owning, and the increasing gap between peak electricity demand and available dispatch capacity. These factors are crucial as Europe integrates more renewable energy sources, electric vehicles, and smart grids into its existing infrastructure. Renting power solutions offers the advantage of accessing the latest technology and flexible energy options without the long-term commitments of ownership.
Despite promising growth, the market faces challenges such as a skilled labor shortage, particularly in countries like France and Spain, and the increased deployment of renewable energy, which diminishes demand for conventional power rentals. Additionally, power rental companies are faced with the necessity to comply with stringent emission regulations and to transition towards more environmentally-friendly alternatives to diesel generators. Higher costs for green solutions and customer hesitance lead to increased rental rates, further constraining growth. All this unfolds within a highly competitive market landscape, dominated by key players like Aggreko, the Caterpillar dealership network, and Bredenoord GmbH.
The European power rental market continues to evolve, influenced by economic conditions and the push for sustainability. Major trends include the adoption of diesel generators due to rising natural gas prices, innovations in eco-friendly power solutions, and advancements in connectivity and combatting wet stacking. This dynamic market is set to adapt and grow, responding to both challenges and opportunities in the evolving energy landscape.
Some of the key companies covered in the European power rental market report include Aggreko plc., the Caterpillar dealership network, Bredenoord GmbH, LOXAM Group, Speedy Hire Plc., Generator Power Ltd., Sunbelt Rentals Ltd., Power Electrics Generators Ltd., Atlas Copco AB, HSS Hire Group Plc., WB Power Services Ltd., Delta Service Location (DSL), Kiloutou S.A.S., Électricité Gay SA, Boels Rental, Hillevåg Elektro-Diesel, General De Alquiler De Maquinaria, S.A., Comercial De Maquinaria Morilla S.A., and Alayan Rental S.L.U. (Finazauto Rental), among others.
This report provides an in-depth analysis of the overall European power rental market and captures various market dynamics such as growth drivers, restraints, market revenues and forecasts, market trends and a competitive landscape assessment.
A copy of the European power rental market research report can be obtained at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets and LinkedIn. This report is part of Verify Markets’ Energy & Power Equipment market research and consulting practice. Other related reports:
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