Temporary Power Solutions 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 Solutions 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.
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Global Temporary Power Market: Segmental Analysis
The global temporary power solutions 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 solutions 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.
Read More: https://www.slideshare.net/MRFR12/temporary-power-market-2020-global-size-share-business-growth-opportunity-and-regional-trends-by-2023
https://issuu.com/home/published/temporary_power_market_01a3f622a5e7c1
https://visual.ly/community/Others/business/temporary-power-market-depth-analysis-competitive-landscape-historical
https://www.scribd.com/document/442886037/Temporary-Power-Market-2020-Competitive-Strategies-Latest-Technology-and-Potential-Of-The-Industry-By-2023
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