Dublin, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The "France Power Rental Market - Strategic Assessment & Forecast 2023-2029" report has been added to ResearchAndMarkets.com's offering.
The France power rental market is expected to at a CAGR of 4.76% from 2022 to 2029.
Uncertainty in the electric power supply in 2022 had driven the sale and rentals of generators in the France power rental market. Since a few nuclear reactors shut down in 2022, the government has implemented load-shedding practices. Due to the hike in electricity prices and load-shedding practices, many companies came out of the grid and used generators to power to reduce their electricity bill.
Since the power outage will force stop their operations since most of the equipment longer time to restart. All these factors put heavy pressure on the manufacturers to meet the demand. For instance, in Perlin, Industrial generator manufacturer Gelec received a huge number of orders as of August 2022, with almost an 80% hike compared to the same period in 2022.
OVHcloud, the largest French cloud services provider, had prepared for possible power outages in Q4 2022 by arranging diesel generators as a backup. These generators will be in place to ensure uninterrupted power supply and maintain the services provided by OVHcloud.
The Grand Paris Express is currently the largest infrastructure project being constructed in Europe. It aims to build a modern public transport network spanning 200 kilometers, with a planned budget of €30 billion (USD - 6 billion). The project includes extending the metro's line 14 and building new lines 15, 16, 17, and 18, improving regional transportation.
Loxam and GL events allied by providing power and temperature control rental services, including project management services, temporary power solutions, and uninterrupted power supplies on all sites, including the international broadcast center for the 2024 Olympics and Paralympics in Paris. They are committed to including SMEs in their supply chain. Biofuels and green hydrogen are preferred as fuels in the temporary power equipment, which will be used to back up the renewable electricity supply from the electricity grid.
Recent Developments
France has launched the ""France 2030"" national investment plan, with a budget of €34 billion (~ USD 40 billion) to revitalize the industrial economy and adopt technological advancements in strategic sectors such as semiconductors, robotics, electric vehicles, nuclear energy, and renewable sources. The plan includes substantial funding for the energy sector, targeting the development of small nuclear reactors, green hydrogen projects, and industrial decarbonization. Currently, nuclear energy accounts for 69% of France's electricity mix.
In addition, the French government has set a target to increase the installed capacity of renewable energy sources to 100 GW by 2050, ten times the current level. To achieve this, the government allocates €1 billion (USD - 1 billion) under the ""France 2030"" National Investment Plan, with a significant portion dedicated to offshore wind farms, which alone will account for 40 GW of capacity.
Ongoing Energy Transition and the Importance of Temporary Power at Construction Sites to Provide Lucrative Opportunities to France Power Rental Market.
VENDOR LANDSCAPE
The key players in the France power rental market are Loxam, Sunbelt, United Rentals, Aggreko, Atlas Copco, Caterpillar, and Kohler Power. Loxam, Aggreko, and Sunbelt account for 29% of the France power rental market share.
In France, Kiloutou had introduced a program for long-term rentals of power tools, partnering with Milwaukee. The program, called 'KFleet,' offers rental contracts spanning three or four years and includes theft protection, fleet management, and after-sales service provisions. It covers a range of 600 products provided by Milwaukee.
Prominent Vendors
- United Rentals
- Sunbelt Rentals, Inc.
- Aggreko
- Loxam Group
- Caterpillar
- Atlas Copco
- KOHLER
Other Prominent Vendors
- Kiloutou
- Rentaload
- Salti
- Crestchic
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
For more information about this report visit https://www.researchandmarkets.com/r/9u3556
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