Global
Temporary Power Market Overview
As per a detailed analysis by Market Research Future
(MRFR), the Global
Temporary Power 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.
Global
Temporary Power Market: Segmental Analysis
The global temporary power 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.
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).
