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Report Overview
The Europe power rental market is expected to attain USD 5.58 billion by 2032, rising from an estimated USD 3.99 billion in 2023 at a CAGR of 3.8% over the forecast period of 2024-2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The industrial production in Europe rose by 8% in 2021 compared to 2020. This upward trend has persisted with a subsequent 5% increase in 2022 compared to 2021.
- The occurrence of frequent natural disasters and the prevalence of extreme climate conditions is leading to power outages.
- The European construction sector contributes around 9% of the EU GDP.
Europe Power Rental Market Trends
Demand for Clean Power Sources
Power rental companies are focusing on new forms of power, such as green power produced from solar energy or hydrogenated vegetable oil, owing to their better adherence to environmental regulations. The government’s rising focus on environmental well-being aids the demand for eco-friendly generators. For instance, natural gas generators burn approximately 85% cleaner than diesel-based generators, which can contribute to the demand of Europe power rental market. Moreover, Germany plans to reach greenhouse gas neutrality by 2045 and the country is formulating a plan to reduce emissions by around 65 per cent by 2030 and 88 per cent by 2040. This is expected to fuel the demand for green power sources among rental companies.
Further, consumers are adopting renewable energy-based power generators, as they are cleaner and more cost-effective options. The recurring blackouts across Europe, due to an ageing power network and changing climatic conditions are increasing the installation of emergency backup systems.
Cost-Effectiveness of Power Rentals
Companies in downstream markets, such as construction, manufacturing, and mining, with temporary power requirements, consider investing in a rented generator more feasible than purchasing a new one, which boosts the Europe power rental market value. As per the Eurofer forecasts, the construction sector in the region is expected to reach a growth rate of 2% year-on-year in 2025. The renovation subsector is also expected to witness positive growth in 2025. The housing market in the Netherlands witnessed an upward trend in the construction sector with a rise in building permits as well as growth in the sales of new homes in 2024. Spain’s construction sector, on the other hand, witnessed a growth rate of 4.5% in 2023. These positive trends in the construction sector of the region indicate a rising demand for power rentals.
Europe Power Rental Market Report Snapshots
Europe Power Rental Market Size
Europe Power Rental Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The power rental market in Europe reached a value of USD 3.99 billion in 2023.
The market is projected to grow at a CAGR of nearly 3.8% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 5.58 billion by 2032.
Power rental refers to the renting of generators. These generators may operate on diesel or natural gas.
Power rental companies take charge of the maintenance and repair of generators throughout the rental period. As a result, consumers do not have any maintenance hassles and experience a low risk of downtime.
The major drivers of the market include the expanding infrastructural sector, frequent power cuts, and the cost-effectiveness of power rentals.
Key trends aiding the market expansion include the development of power rentals that work on clean energy sources, rising mining operations, the need for temporary power in construction projects and an ageing power generation infrastructure leading to frequent power supply cuts.
The major rating segments in the market are up to 50 kW, 51–500 kW, and above 500 kW.
The significant application segments of the product are peak shaving, standby power, and base load/continuous power, among others.
The major countries for power rental in Europe include the United Kingdom, France, Germany, and Italy, among others.
The leading players in the market are Aggreko Ltd., Caterpillar Inc., Atlas Copco AB, Boels Topholding B.V., Zwart Techniek B.V., and LOXAM Group, among others.
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