Temporary Power Generation Market - Overview
As
per a detailed analysis by Market Research Future (MRFR), the Temporary
Power Market Analysis 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).
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