The Europe Power Rental Systems Market would witness market growth of 8.7% CAGR during the forecast period (2020-2026). Growing demand for UPS, coupled with swift industrial development across the globe, is the key factor that is driving the market growth. Rising instances of adaptable electricity supply produced by small and medium-scale power grids and limited access to the greater transmission network have fueled the demand for power rental systems in the manufacturing and utility industries.
Furthermore, there is a growing requirement for a reachable rental unit that can overcome the problems that are linked with voltage sags and power outages. Moreover, growing awareness associated with the revenues of subcontracting power equipment has a positive impact on market growth. Power rental systems enable their customers to obtain equipment as per their requirements in a cost-effective way. Growing grid uncertainty, along with power spikes during the peak demand, is expected to be a key driver for the market. Moreover, the improved focus for the reduction in the peak power consumption to cut power cost is possible to improve the growth of the market.
Increasing electricity consumption for industrial and commercial applications has accumulated a supply-demand gap in market power. This gash is even more apparent during the peak hours for the consumption power. This has focused on the growth of power rental systems that are capable of providing short-term electricity during the low supply of power. Moreover, the rising demand for transient electricity supply sources during festivals, events, and fairs is likely to boost the growth of this market in the coming years. In addition to it, these power systems distribute peak shaving, which allows numerous industries to assign their power load steadily during non-peak and peak hours.
Based on Application, the market is segmented into Continuous Power, Peak Shaving and Standby Power. Based on End User, the market is segmented into Government & Utilities, Construction, Event Management, Oil & Gas, Industrial and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Power Rental Systems Market in Europe is expected to register a CAGR of 8.7% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Caterpillar, Inc., Atlas Copco AB, Hertz Global Holdings, Inc., Ashtead Group PLC, Cummins, Inc., United Rentals, Inc., Herc Holdings, Inc. (Herc Rentals, Inc.), Aggreko PLC, AI Faris Group and Kohler Co.
Market Segmentation:
By Application
By End-User
By Country
Companies Profiled
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