Temporary Power Market Insights
The Global Temporary Power market is estimated to grow at a high CAGR during the forecast period. Temporary power is a source of energy that supports factories, industries and multiple other sectors in case of emergencies, blackouts and power failures. Temporary power plays an important role in case of emergencies in hospitals, mines, and sewage plants. Factors such as an increase in the volume of infrastructural activities, scarcity of power supply and power requirement in remote locations are driving growth in the temporary power market.
Temporary power is a convenient alternative method of acquiring power for construction activities, manufacturing, planned events, utilities, and mining among other activities. It requires lesser turnaround time and provides efficient services without heavy infrastructure. However, some issues with respect to payments are likely to have a negative impact on market growth in the temporary power market.
Temporary Power Market: Fuel Type Insights
The Temporary Power Market based on fuel type can be segmented into diesel and gas. The diesel segment is expected to hold the higher market share in terms of revenue. Easy availability, lower cost, and high efficiency are some factors likely to contribute to market growth in the diesel driven temporary power market. Moreover, diesel finds a variety of applications in the manufacturing and production sectors, further fueling market growth in the segment.
Temporary Power Market: Generator Rating Insights
On the basis of generator rating, the temporary power market can be classified into Less than 80 kW, 81-280kW, 281-600 kW, and Above 600 kW. The above 600 kW segment finds applications in sectors which require operation of heavy equipment, which need high power consumption. These sectors are oil & gas, mining, and utilities. The demand for this segment is expected to grow at a steady rate during the forecast period.
Temporary Power Market: End-Use Insights
The Temporary Power market based on end-use can be segmented into Events, Utilities, Oil & Gas, Construction, Mining, and Manufacturing, & Shipping. The Utility segment includes telecommunication, transportation, sewage and other activities. This segment is expected to hold the highest market share during the forecast period due to lack of electricity supply in emerging economies. Accordingly, poor infrastructure, the rise in redevelopment projects in remote areas, and frequent cases of power failure are some factors likely to further fuel market growth. The oil & gas segment is estimated to hold the second largest market share in the temporary power market during the forecast period.
Temporary Power Market: Regional Insights
North America is expected to lead the temporary power market in terms of revenue during the forecast period. Rising demand for power and companies aiming to expand their temporary power capabilities are factors expected to contribute to market growth in the North American region. The Asia Pacific region is expected to hold the second largest market share, and is likely to grow at the highest CAGR in the coming years. Low electrification rate, scarcity of power, and poor power infrastructure in less developed countries in Asia is likely to boost demand for temporary power in the market. Companies are exploring opportunities in temporary power generation in order to solve these problems in Asia Pacific countries. Within the region, the Chinese market is expected to record highest growth owing to increase in volume of planned events.
Temporary Power Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase Temporary Power over the coming years. Some leading consumers of this market are Glencore, Sinopec and Peugeot among others.
Temporary Power Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Temporary Power Market Share & Competitor Analysis
Major companies operating in the temporary power market are APR Energy PLC, Ashtead Energy PLC, Hertz Corporation, Smart Energy Solutions, Speedy Hire, Cummins Inc., Power Electrics, United Rentals, Aggreko PLC, Caterpillar Inc., Kohler, and Cummins Inc Rental Solutions and Services among others.