“The European electricity leasing market will reach US$1.6 billion in 2019, and this data is expected to increase to US$2.3 billion by 2024. The compound annual growth rate during the forecast period is about 7.1%,” the latest report by international authoritative research firm MarketsandMarkets. disclose.
The growth of the European electricity leasing market can be attributed to the expansion of IT and data centers and the growing investment in the construction industry.
From the fuel type, diesel is expected to occupy the largest market share by 2024. In addition, easy access to fuel, ease of transportation and storage, and rapid response to load changes are key factors expected to drive the development of the diesel power rental market. However, in order to reduce emissions, developed countries such as the United Kingdom, Germany, France, the Netherlands and Russia are rapidly adopting natural gas power generation technology, so the natural gas generator rental market is expected to grow at a faster rate during the forecast period.
From the application market perspective, the standby power segment is expected to grow at the fastest rate during the forecast period. Standby power is the amount of energy that electronics and appliances consume when they are turned off or in standby mode. The backup generator is an electrical backup system that can operate within a few seconds of a power outage. The transfer switch detects a loss of power to start or shut down the generator. Most units use diesel, natural gas or liquid propane gas. These generators are used in hospitals, office buildings and schools.
From the perspective of regional markets, Russia is expected to occupy the largest market size during the forecast period and lead the European electricity leasing market. The growth of the Russian IT and healthcare industry has played an important role in the growth of the European electricity leasing market. Russia's electricity leasing market is driven by increased oil and gas exploration and production activities and growth in the non-residential construction industry. The construction and oil and gas industries require power leasing solutions to meet the fluctuating power needs of the project. The main end-user sectors that drive the electricity leasing market in the region are utilities, oil and gas, and construction.
From the perspective of market participants, the main players in the European electricity leasing market are Caterpillar (USA), Aggreko (UK), AtlasCopco (Sweden), Bredenoord (Netherlands) and Loxam (France).
