Pune, India -- (SBWIRE) -- 12/07/2018 -- Global Temporary Power Market - Competitive Analysis
The well-established, temporary power market appears to be fiercely competitive due to the presence of several large, small and new entrants operating in the market. The market is estimated to witness an intensified competition further.
The term - temporary power refers to an independent source of electric power, supporting the industrial and commercial sectors with the power supply in situations such as power cut, blackouts, and power outage. Temporary power supply unit allows builders and trades to work where there is no permanent power connection. Temporary Power supplier companies offer a comprehensive range of temporary power products for the commercial, industrial and entertainment market segments.
The Temporary Power market is growing enormously owing to the lack of reliable electricity supply, rise in construction and infrastructural activities, and an increase in the number of planned events, triggering an increasing demand for energy supply.
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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 Increasing construction and infrastructural activities along with the lack of electricity supply to back up those infrastructural expansions are expected to drive the market growth to an extent.
Also, the upcoming planned events worldwide, are expected to foster the market growth, fueling the demand for temporary power systems. The lack of permanent power supply facilities in some of the regions especially in the developing nations is providing impetus to the market growth, fulfilling the needs of the increasing population and urbanization. Simultaneously, the rapid automation of industrial activities is leading to the huge demand for reliable power backup, further adding to the growth of the temporary power market. Market trends indicate that industrial infrastructure is due for replacement if production levels and operational efficiency have to be maintained.
Global Temporary Power Market - Segmentation
The MRFR analysis is segmented into four key dynamics for the convenience of understanding;
By Fuel Types : Comprises Diesel, and Gas among others.
By Generator Ratings : Less than 80 kW, 81-280 kW, and More than 280 kW.
By End-Uses : Events, Construction, and Mining, among others.
By Regions : North America, Europe, APAC and the Rest-of-the-World.
Global Temporary Power Market - Regional Analysis
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.
Some of the leaders driving the global temporary power market include Ashtead Group Plc (UK), Aggreko PLC (UK), Caterpillar Inc. (US), Speedy Hire (US), Hertz Corporation (US), Smart Energy Solutions (UAE), United Rentals (US), Power Electrics (UK), Cummins Inc. (US), APR Energy Inc. (US), Kohler (US) and Rental Solutions Services (UAE).
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Industry/ Innovation/ Related News
August 28, 2018 – Larson Electronics LLC (US), a global leader of industrial lighting launched a portable power distribution substation that provides operators with the flexibility to utilize 480V AC three-phase power current to energies 208Y/120V AC three-phase equipment on a single system.
The new 100-amp 75KVA power distribution panel contains three 100-amp time delay fuses, and twelve 50-amp 2-pole 250V breakers on the secondary side, protecting twelve 50-amp 250V CS8269 receptacles. The unit is ideal for indoor and outdoor use in plant turnarounds, shipyards, and other temporary industrial applications.