Temporary
Power Market Highlights
Acknowledging the exponential growth, the market is
observing currently; Market Research Future (MRFR) in its recently published
study report asserts that the global temporary power market is expected to
create a significant revenue pocket by 2023, registering approximately 10% CAGR
between 2016-2023.
The growth of the temporary power market is majorly
driven by the shortage of electricity faced by the developing economies due to
lack of permanent power capacity. Failure of predicting the future electricity
demand and the inability to finance major power projects by both private and
government entities has led to the growth of market for temporary power
solutions. Factors such as limited electricity access in all regions across the
globe and the rise in global construction and infrastructural activities are
driving the global market for temporary power solutions. However, the growth of this market can be
restrained by payment issues for availing electricity and power in
underdeveloped & developing nations.
Industry
Segmentation
The report has been analyzed based on the fuel type,
generator rating, end-use and region. Among all end-users, the oil and gas
industry is expected to grow rapidly. The rapid industrialization and the
increase in demand for incessant power supply by various industries are
expected to drive the growth of the temporary power market over the forecast period. The increase in the number of planned events
such as media & entertainment and sports activities, which requires
continuous electricity
backup, is further expected to drive the growth of the
market.
Regional
Outlook
The North American region is expected to retain its
dominance over the global temporary power market attributing to the aging power
transmission and distribution systems, leading to frequent power outages.
Also, the upsurge in the construction activities in the region is expected to
drive the market growth.
The market in the Asia Pacific region is emerging as
another lucrative market for temporary power due to the unavailability of
proper access to the electricity mainly in the underdeveloped regions. Several
countries in the APAC region still do not have 100% access to the electricity.
These factors are estimated to augment the demand in the temporary power market
during the forecast period.
Leading
Players
The key players of global temporary power market are
Aggreko PLC (U.K.), Ashtead Group Plc. (U.K.), Caterpillar Inc. (U.S.), Hertz
Corporation (U.S.), Speedy Hire (U.S.), Smart Energy Solutions (UAE), Power
Electrics (U.K.), United Rentals (U.S.), Cummins Inc. (U.S.), Rental Solutions
and Services (UAE), APR Energy Inc. (U.S.), Kohler (U.S.) and others.
Scope
of the Report
This study provides an overview of the global
temporary power market, tracking three market segments across four geographic
regions. The report studies key players, providing a five-year annual trend
analysis that highlights market size, volume and share for North America,
Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also
provides a forecast, focusing on the market opportunities for the next five
years for each region. The scope of the study segments the global temporary
power market by its fuel type, generator rating, end-use and region.
About
Market Research Future:
At Market Research Future (MRFR),
we enable our customers to unravel the complexity of various industries through
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