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"The European electricity leasing market will reach US$1.
6 billion in 2019 and this figure is expected to increase to US$2.
3 billion by 2024, with a compound annual growth rate of about 7.
1% during the forecast period," revealed in a new report released by Markets and Markets
, an authoritative international research organization.
The growth of the European electricity leasing market can be attributed to the expansion of IT and data centers and growing investments
in the construction industry.
In terms of 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 the major factors
expected to drive the diesel-electric rental market.
However, to reduce emissions, developed countries such as the UK, Germany, France, the Netherlands, and Russia are rapidly adopting natural gas power generation technologies, so the natural gas generator rental market is expected to grow
at a faster pace during the forecast period.
From the perspective of application market, the standby power segment is expected to grow
at the fastest rate during the forecast period.
Standby power refers to the energy
consumed by electronics and appliances when they are off or in standby mode.
A backup generator is an electrical backup system that operates
within seconds of a power outage.
The transfer switch detects a loss of power and starts or shuts down the generator
.
Most units use diesel, natural gas or liquid propane gas
.
These generators are used in hospitals, office buildings and schools, among others
.
From the perspective of regional markets, Russia is expected to hold the largest market size during the forecast period, leading the European electricity rental market
.
The growth of the IT and healthcare industries in Russia has played an important role
in the growth of the European electricity rental market.
Russia's electricity leasing market is driven
by increased oil and gas exploration and production activities and growth in the non-residential sector construction.
The construction and oil and gas industries need power leasing solutions to meet the fluctuating power demand
of projects.
The major end-user sectors driving the electricity leasing market in the region are utilities, oil and gas, and construction
.
In terms of market participants, the main players in the European electricity rental market are Caterpillar (USA), Aggreko (UK), Atlas Copco (Sweden), Bredenoord (Netherlands) and Loxam (France).
"The European electricity leasing market will reach US$1.
6 billion in 2019 and this figure is expected to increase to US$2.
3 billion by 2024, with a compound annual growth rate of about 7.
1% during the forecast period," revealed in a new report released by Markets and Markets
, an authoritative international research organization.
The growth of the European electricity leasing market can be attributed to the expansion of IT and data centers and growing investments
in the construction industry.
In terms of 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 the major factors
expected to drive the diesel-electric rental market.
However, to reduce emissions, developed countries such as the UK, Germany, France, the Netherlands, and Russia are rapidly adopting natural gas power generation technologies, so the natural gas generator rental market is expected to grow
at a faster pace during the forecast period.
From the perspective of application market, the standby power segment is expected to grow
at the fastest rate during the forecast period.
Standby power refers to the energy
consumed by electronics and appliances when they are off or in standby mode.
A backup generator is an electrical backup system that operates
within seconds of a power outage.
The transfer switch detects a loss of power and starts or shuts down the generator
.
Most units use diesel, natural gas or liquid propane gas
.
These generators are used in hospitals, office buildings and schools, among others
.
From the perspective of regional markets, Russia is expected to hold the largest market size during the forecast period, leading the European electricity rental market
.
The growth of the IT and healthcare industries in Russia has played an important role
in the growth of the European electricity rental market.
Russia's electricity leasing market is driven
by increased oil and gas exploration and production activities and growth in the non-residential sector construction.
The construction and oil and gas industries need power leasing solutions to meet the fluctuating power demand
of projects.
The major end-user sectors driving the electricity leasing market in the region are utilities, oil and gas, and construction
.
In terms of market participants, the main players in the European electricity rental market are Caterpillar (USA), Aggreko (UK), Atlas Copco (Sweden), Bredenoord (Netherlands) and Loxam (France).
