UK POWER RENTAL MARKET SIZE WAS VALUED AT USD 303.1 MILLION IN 2022 AND IS EXPECTED TO REACH USD 429.8 MILLION BY 2029 BY 2029, GROWING AT A CAGR OF 5.12% FROM 2022-2029.

The UK Power Rental Market Research Report Includes Segments By

  • Fuel: Natural Gas, Diesel, and Others (Propane, Hydrogen, Renewable Sources)
  • Power Rating: <75KVA, 75-375KVA, 375-1,000KVA, and Above 1,000 KVA
  • Equipment: Generators, Load Banks, Transformers, and Others
  • End-User: Construction, Retail, Oil & Gas, Mining, Events, Utilities, IT & Data Center, Manufacturing, and Others
  • Application: Standby, Continuous, and Peak Shaving

The Industry Analysis Report Provides Industry Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast for 2023-2029

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101 Pages

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12 Companies

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5 Market Segment

UK POWER RENTAL MARKET REPORT SCOPE

Report Attribute Details
Market Size (2029) USD 429.8 Million
Market Size (2022) USD 303.1 Million
CAGR (2022-2029) 5.12%
HISTORIC YEAR 2020-2021
BASE YEAR 2022
Forecast Year 2023-2029
Market Segments Fuel, Power Rating, Equipment, End-User, and Application
END-USERS Construction, Retail, Oil & Gas, Mining, Events, Utilities, IT & Data Center, Manufacturing, and Others
KEY VENDORS United Rentals, Inc., Sunbelt Rentals, Inc., Aggreko, Speedy, Caterpillar, Atlas Copco, KOHLER, and Cummins Inc.,

MARKET INSIGHTS

The UK power rental market size accounted for USD 303.1 million in 2022, which is expected to reach USD 429.8 million by 2029 growing at a CAGR of 5.12% during the forecast period. The UK government allocated USD 104 million to Able Marine Energy Park on the south bank of the River Humber and USD 27 million to the Tees works offshore Manufacturing Centre, located on the River Tees, and planned to invest USD 32 million in biomass production in 2022. USD 5 million is allocated to support innovative technology to generate hydrogen from biomass. The government’s infrastructure outlay has increased the need and acceptance of rental models, equipment, and a more reliable renting process that will drive the UK power rental market.             

KEY HIGHLIGHTS

  • National Grid has submitted its application as of November 2022 for development consent to the Planning Inspectorate for the Yorkshire Green Energy Enablement Project. Should the project receive consent, the reinforcement works would begin in the summer of 2024 and be operational in 2027. The project forms part of the electricity network upgrades identified across the UK to help deliver the government’s net zero targets for 2050.
  • Storm Franklin severely impacted parts of the UK with strong winds and heavy rain in February 2022. UK Power Networks believed it had restored electricity to 98% of properties across east and south-east England, but 8,500 remained without power during the storm. These situations will require backup power, and rental power equipment could bring situations under control. These naturally occurring calamities will push UK power rental market growth.
  • Battersea Power Station, which had been decommissioned, is now being reconstructed in seven phases with a capital of USD 11 billion. The main focus of this project is to bring the 80-year-old structure converted into a mixed-use development that comprises several restaurants, shops, bars, residential units, and office spaces. The whole project is expected to be completed by 2025.
  • Construction 2025’ is a joint strategy that sets out the sector and government to work in partnership to put Britain at the front position of global construction over the coming years. Additionally, the construction of a few energy projects in the UK, such as the Clay Tye battery storage site in Essex (99MW) and the Kype Muir onshore wind farm extension in South Lanarkshire with a capacity of 155 MW, are likely to push the UK power rental market demand.
  • Aggreko had been the Official Modular Energy Solutions supporter for Birmingham 2022. It supported various major venues, such as Alexander Stadium and Coventry Stadium & Arena, to other key sites, including the Birmingham 2022 Athletes’ Villages at the University of Birmingham and the University of Warwick. It provided 117 of the latest stage V generators with a range of 30KVA -600 KVA, which used HVO as fuel in October 2022. Aggreko also produced around 10.8 MWh of clean solar energy at Victoria Park in Royal Leamington Spa with the help of hybrid generators.

MARKET TRENDS & DRIVERS

Governments' Focus on Clean Energy and Investments Are Likely to Propel the UK Power Rental Market

  • In 2021, the government planned to increase its offshore wind power capacity from 30GW to 40 GW in 2030. The plan aims to reach net-zero emissions by 2050, aligning with the global climate goals listed in the Paris Climate Agreement. An investment of USD 223 million is planned to upgrade the country’s port. In 2021, the government announced investments of USD 132 million in constructing two offshore wind ports.
  • Aggreko collaborated with the R&A to deliver a renewable energy solution at the 149th Open Championship, held at Royal St George's Golf Club in Sandwich, England, between 11 to 18 July 2021. The hybrid system is a significant development in Aggreko's Net Zero path since it will cut carbon emissions by up to 40% compared to the older fossil fuel systems. Two renewable microgrids from Aggreko were delivered, and they will provide 100 percent reliable electricity without a connection to the grid. Since the solution was deployed in March 2021 for the event's setup, it has already produced over 21000 kWh of solar energy and saved 25 tons of CO2. Moreover, for the first time in The Open's history, all of the site's generators had operated on HVO, a sustainable biodiesel.
  • The UK government funded USD 9 million for 24 projects under the Longer Duration Energy Storage (LODES) competition. This funding is projected to support the development of new energy storage technologies, help the UK transition to renewable energy sources, and further contribute to the UK power rental market.
  • UK’s plan ‘Build Back Greener’ and ‘Net Zero Strategy’ 2021 has prompted the development of the UK’s first decarbonized industrial cluster. Additionally, the UK government has also committed to unlock USD 95.92 billion for private investment by 2030 and support the development of green industries by 2050.

Approval of Various Standards and Guidelines to Enhance the Safety Aspect of Fuels or Equipment

  • The government had approved HVO as renewable fuel as it has met the EN15940 standards, and imports of HVO are being certified by (SCC (International Sustainability & Carbon Certification). As of March 2022, Aggreko had also switched its operations to HVO and only stocked white HVO fuel at their depots. Businesses will be forced to transition to HVO (Hydrotreated Vegetable Oil) due to government reforms affecting red diesel starting on 1 April 2022. Nitrogen dioxide and Carbon monoxide emissions are greatly reduced and eliminated using HVO.
  • The UK government is expected to invest USD 4.3 billion in constructing 40 hospitals by 2030. The government is implementing new guidelines that will help to standardize the design for new hospitals and use modular construction methods to accelerate the building program. The government had also announced USD 1 billion for upgrading its facilities in the existing 20 hospitals. This construction plan is expected to drive the demand UK power rental market.
  • The United Kingdom (UK) has proposed a new temporary Electricity Generator Levy, which will apply from 1 January 2023. This levy is separate from the Energy Profits Levy, which applies to the oil and gas sector. The government has not yet published draft legislation, but it has issued a technical note on the proposals, summarized in this alert.

VENDOR LANDSCAPE

  • The key players in the UK Power Rental market are United Rentals, Sunbelt, Aggreko, Speedy, Atlas Copco, Caterpillar, Cummins, and Kohler power.
  • The top 4 prominent vendors, including United Rentals, Sunbelt Rentals, Aggreko, and Speedy, account for 44% of the UK Power Rental market share.
  • Sunbelt introduced alternative fuel to its UK hiring equipment with combustion engines, which involves burning fossil-fuel-based red diesel.
  • Speedy launched the UK’s first Net Zero service center in October 2022, which was awarded an A+ energy rating in January 2023.
  • In May 2021, Atlas Copco acquired Netherlands-based Eco Steam and Heating Solutions under its Power Technique business category.

Frequently Asked Questions

How big is the UK power rental market?

The UK power rental market size was valued at USD 303.1 million in 2022 and is expected to reach USD 429.8 million by 2029.

What is the growth rate of the UK power rental market?

The UK power rental market share is expected to grow at a CAGR of 5.12% from 2022-2029.

What are some significant opportunities in the U.K. power rental market?

Trade agreements between the EU and UK and norms to control carbon emissions will likely increase the sales of power equipment rental, which are significant opportunities in the U.K. power rental market.

Which fuel type is projected to dominate the UK power rental market?

Diesel fuel type is projected to dominate the UK power rental market share; reliability and sturdiness are expected to offer the highest incremental opportunity for the diesel segment.

Which are the key vendors in the UK power rental market?

The key vendors in the UK power rental market are United Rentals, Inc., Sunbelt Rentals, Inc., Aggreko, Speedy, Caterpillar, Atlas Copco, KOHLER, and Cummins Inc.,

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The UK power rental market is expected to grow at a CAGR of approximately 5.12% from 2022 to 2029.

The following factors are likely to contribute to the growth of the UK power rental market during the forecast period:

  • Policies By UK Government For Energy Transition To Drive The Rental Fleet Demand
  • Demand For Rental Equipment Backed By Infrastructure Investments By Government
  • Renewable Energy Projects To Drive Demand For Rental Equipment

Base Year: 2022

Forecast Year: 2023-2029

The report considers the present scenario of the UK power rental market and its market dynamics for 2023−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Prominent Vendors

  • United Rentals, Inc.
  • Sunbelt Rentals, Inc.
  • Aggreko
  • Speedy
  • Caterpillar
  • Atlas Copco
  • Cummins Inc.
  • KOHLER

Other Prominent Vendors

  • Generac Power Systems, Inc.
  • Boels Rental
  • HSS Hire Group
  • The Hireman

Segmentation By Fuel

  • Natural Gas
  • Diesel
  • Others (Propane, Hydrogen, Renewable Sources)

Segmentation By Power Rating

  • <75KVA
  • 75-375KVA
  • 375-1,000KVA
  • Above 1,000 KVA

Segmentation By Equipment

  • Generators
  • Load Banks
  • Transformers
  • Others

Segmentation By End-User

  • Construction
  • Retail
  • Oil & Gas
  • Mining
  • Events
  • Utilities
  • IT & Data Center
  • Manufacturing
  • Others

Segmentation By Application

  • Standby
  • Continuous
  • Peak Shaving
  1. Introduction
    • Key Insights of the UK Power Rental Market
    • Executive Summary
  2. UK Power Rental Market
    • Future Outlook -UK Power Rental Market by Value
    • UK Power Rental Market- By Segments
      • UK Power Rental Market by Value
        • UK Power Rental Market Size and Forecast by Million ($million)
      • Power Rental Market, By Fuel
        • Diesel, Market Size and Forecast 2020–2029($ Million)
        • Natural Gas, Market Size and Forecast 2020–2029($ Million)
        • Others, Market Size and Forecast 2020–2029($ Million)
      • Power Rental Market, By End User
        • Construction, Market Size and Forecast 2020–2029($ Million)
        • Retail, Market Size and Forecast 2020–2029($ Million)
        • Oil and Gas, Market Size and Forecast 2020–2029($ Million)
        • Mining, Market Size and Forecast 2020–2029($ Million)
        • Events, Market Size and Forecast 2020–2029($ Million)
        • Utilities Market Size and Forecast 2020–2029($ Million)
        • IT & Data Centers, Market Size and Forecast 2020–2029($ Million)
        • Manufacturing, Market Size and Forecast 2020–2029($ Million)
        • Others, Market Size and Forecast 2020–2029($ Million)
      • Power Rental Market, By Equipment
        • Generator, Market Size and Forecast 2020–2029($ Million)
        • Load Bank, Market Size and Forecast 2020–2029($ Million)
        • Transformer, Market Size and Forecast 2020–2029($ Million)
        • Others, Market Size and Forecast 2020–2029($ Million
      • Power Rental Market, By Application
        • Standby power, Market Size and Forecast 2020–2029($ Million)
        • Continuous power, Market Size and Forecast 2020–2029($ Million)
        • Peak shaving, Market Size and Forecast 2020–2029($ Million)
      • Power Rental Market, By Power Rating
        • (0-50KW) Market Size and Forecast 2020–2029($ Million)
        • (50-500KW) Market Size and Forecast 2020–2029($ Million)
        • (500-2500KW) Market Size and Forecast 2020–2029($ Million)
        • (Above 2500KW) Market Size and Forecast 2020–2029($ Million)
  1. Geographical Analysis
    • Key Economic cities in the UK
  1. Market Dynamics
    • Market Trends
    • Market Drivers
    • Market Opportunities
    • Market Restraints
  1. Technological Development
  2. Competitive Landscape
    • Company Profile of Major Vendors
    • Other Prominent vendors
  3. Report Summary
    • List of Abbreviations
  4. Appendix (Report Scope & Definition)
    • Research Methodology
    • Market Definition, Inclusion & Exclusion
  1. Net Zero in the UK will greatly increase electricity demand while almost fully decarbonizing
  2. UK Power Rental Market ($ million)
  3. Global Power Rental Market by Geography 2022
  4. Europe Power Rental Market by Country 2022
  5. UK Power Rental Market ($Million)
  6. Global electricity demand
  7. Power rental by end user 2022(%)
  8. Percentage of Energy Generated by sources 2022
  9. Natural Gas power rental by value ($ million)
  10. Diesel power rental by value ($ million)
  11. Others, power rental by value ($ million)
  12. 75-375 KVA power rental by value ($ million)
  13. 375-1,000 KVA power rental by value ($ million)
  14. Above 1,000 KVA power rental by value ($ million)
  15. Generators power rental by value ($ million)
  16. Load Bank power rental by value ($ million)
  17. Transformer power rental by value ($ million)
  18. Other power rental by value ($ million)
  19. Construction power rental by value ($ million)
  20. Retail power rental by value ($ million)
  21. Oil & Gas power rental by value ($ million)
  22. Mining power rental by value ($ million)
  23. Events power rental by value ($ million)
  24. Utility power rental by value ($ million)
  25. IT & Datacentre power rental by value ($ million)
  26. Manufacturing power rental by value ($ million)
  27. Other power rental by value ($ million)
  28. Standby power rental by value ($ million)
  29. Continuous power rental by value ($ million)
  30. Peak shaving power rental by value ($ million)
  31. Top cluster share 2022
  32. Northern Ireland Renewable Electricity Generation 2021
  33. Market share 2021(% share)
  34. United Rentals, Total revenue ($ Billion)
  35. Sunbelt rentals, Total equipment rental by segment 2021(% share)
  36. Aggreko, Total sales by segment 2020 (% share)
  37. Atlas Copco, Total Revenue ($ billion)
  38. Cummins, Total Revenue ($ billion)

LIST OF TABLES

  1. By Fuel Type, Total Incremental Opportunity, 2022-2029
  2. By Power Rating, Total Incremental Opportunity, 2022-2029
  3. By Equipment, Total Incremental Opportunity, 2022-2029
  4. By End user, Total Incremental Opportunity, 2022-2029
  5. By Application, Total Incremental Opportunity, 2022-2029
  6. Ongoing Energy projects in UK
  7. Developments/ projects
  8. Power Rental Market size & forecast, by type ($ million)
  9. Power Rental by Fuel Market Size & Forecast ($ million)
  10. Power Rental by Power Rating Market size & Forecast ($ million)
  11. Power Rental by Application Market Size & Forecast ($ million)
  12. Power Rental by Equipment Market Size & Forecast ($ million)
  13. Power Rental by End-user Market Size & Forecast ($ million)
  14. List of abbreviations

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