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The phrase "utilization rate of" is correct and usable in written English.
It can be used when discussing the efficiency or effectiveness of a resource, service, or process.
Example: "The utilization rate of our production line has increased significantly this quarter."
Alternatives: "efficiency rate of" or "usage rate of".
Exact(60)
The capacity utilization rate of 82.2percentt in August is well below the peak of 85percentt seen in recent booms.
These exchanges increase the utilization rate of stuff that has already been produced, but they aren't necessarily recorded as market transactions.
Currently, cars have an astoundingly low utilization rate of 5percentt.
It improves the utilization rate of machines, which is a measure of efficiency.
By significantly increasing the utilization rate of vehicles, companies like Uber, Lyft, Kuaidi Dache, Ola and others are reducing the number of cars on the road.
Within the next decade, the arrival of autonomous cars will supercharge this trend, with some estimates pointing to average vehicle utilization rate of nearly 10X today's levels.
The utilization rate of sugarcane energy does not exceed 31% nowadays.
Utilization rate of POCUS by EP on critically ill surgical patients in ED was 34.7%.
It is considered that the utilization rate of system memory is high in this manner.
The average residual energy indicates the energy utilization rate of the network.
However, the relative crystallinity of products and the utilization rate of diatomite were too low.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com