Temporary
Power Generation Market - Overview
As per a detailed
analysis by Market Research Future (MRFR), the Temporary Power Generation Market is predicted to
register a CAGR of 12.5% during the forecast period (2016-2023). The aging
power infrastructure across the globe is encouraging the market growth.
Temporary power is referred to as an independent source of electric power which
highly supports several sectors with power supply during scenarios like power
outage and blackouts. It is an uninterrupted, continuous, and a reliable power
source which enables the end-users to run tools and equipment over an extended
period. The primary end-users of temporary power market are utilities, events,
mining, and construction. With the help of temporary power solutions, end-users
can save the lead time along with capital expenses.
Market
Potential and Pitfalls
The temporary power
market is predicted to experience an upsurge during the review period as these
units can be commissioned and installed easily. Utilities is considered as the
primary end-user of the temporary power market as utilities use these sources
to meet the surging demand for electricity during peak hours. Due to the
booming construction activities, aging power infrastructure, and surging demand
for continuous and reliable power, the temporary power market is considered to
experience a boost. Power infrastructure in most of the developed countries
have become old which can lead to blackouts and power outages, thus disrupting
the daily operations. Temporary power solutions are thereby deployed so that a
continuous and reliable power supply is maintained. Such factors are considered
to provide tailwind to the market across the globe. The rising power failure,
increased power outages, and growing investments in the renewable sector is
anticipated to create new growth opportunities for the market across the globe.
Moreover, the rapid automation of industrial activities is considered to create
high demands for reliable power backup which is presumed to dictate the growth
trajectory of the market.
On the contrary, the
increased T&D investments across the globe coupled with the concerns
related to payment are presumed to restrict the market growth during the review
period. Hazards related to the distribution of electricity during fatalities
linked to installation, improper design, and use of temporary power at the
construction sites are estimated to slowdown the growth of the market to a
certain extent.
Temporary
Power Generation Market: Segmental Analysis
The global temporary
power generation market has been segmented on the basis of fuel type, generator
rating, and end-user.
Diesel, gas, and others
comprises the fuel type segment of temporary power market. Among these, the
diesel segment occupies the largest market share due to the surging use of
diesel in varied range of applications across industries including utilities,
mining, events, construction, and others.
By generator rating, the
temporary power market constitutes of less than 80 kW, 81-280 kW, and above 280
kW. Among these, the above 280 kW segment is anticipated to expand at the
highest CAGR due to its extensive usage in a wide range of applications like
oil & gas, utilities, and mining sectors.
By mode of end-users, the
market is segmented in to utilities, events, oil & gas, construction,
manufacturing, mining, and others. Among these, the events segment is
anticipated to dominate the segment owing to the surging number of unplanned
events across the globe.
Regional
Frontiers
Geographically, the
temporary power generation market has been studied under regions namely, Asia
Pacific, North America, the Middle East & Africa, Europe, and South
America.
Considering the global
scenario, the North American region is anticipated to command for the largest
market share owing to the surging demand for power and power generation
capacity addition plans. Canada and the US are the primary economies fueling
the growth of the market in this region owing to the aging power grid
infrastructure. natural calamities also cause frequent power outages which is
likely to contribute to the growth of the market.
The Asia Pacific region
is anticipated to expand at the fastest rate during the review period. The
region is likely to retain its position due to the surging industrialization
mainly in the Southeast Asian economies like Malaysia, Indonesia, Thailand,
Philippines, and others. The increasing demand for continuous power supply is
bolstering the market growth. The unavailability of power access to electricity
especially in the underdeveloped areas is likely to offer lucrative
opportunities to the regional market.
Competitive
Dashboard
The prominent players
operating in the global temporary power market comprises Atlas Copco (Sweden),
Aggreko Ltd. (UK), Cummins Inc. (US), Caterpillar Inc. (US), APR Energy PLC.
(US), Kohler Co., Inc. (US), Temp-Power, Inc. (US), Atco Power Ltd. (Canada),
Speedy Hire PLC. (UK), Ashtead Group PLC. (UK), Hertz Equipment Rental
Corporation (US), United Rentals, Inc. (US), Rental Solutions & Services
LLC. (UAE), Smart Energy Solutions (New Zealand), Diamond Environmental
Services, LLC. (US), and Trinity Power Rentals (Canada).
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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NOTE:
Our
team of researchers are studying Covid19 and its impact on various industry
verticals and wherever required we will be considering covid19 footprints for a
better analysis of markets and industries. Cordially get in touch for more
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