In a recent published report, Kenneth Research has updated the market report for Temporary Power Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Temporary Power Market products.
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A report on Temporary Power Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report onTemporary Power Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users.
According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
The global temporary power market size is anticipated to reach USD 10.6 billion by 2026 growing at a CAGR of 11.5% from 2019 to 2026 according to a new report published by Polaris Market Research. The report ‘Temporary Power Market Share, Size, Trends, & Industry Analysis Report, By Fuel Type (Gas, Diesel, Others); By Power Rating (Less than 80 kW, 81 to 280 kW, More than 280 kW); By End-User (Retail, Healthcare, Manufacturing, Utilities, Oil and Gas, Mining, Others) and By Region: Segment Forecast, 2019 – 2026’ provides insights on the current market scenario and the future prospects. In 2018, the utilities end-user segment dominated the global market in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
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Temporary power systems are installed in order to prevent loss that might happen from the sudden loss of conventional power supply. Temporary power systems are used in places like ships, submarines, telecommunication equipment, laboratories, and hospitals. Temporary power supply comes in handy at times when main power is lost due to grid failure, blackout, weather conditions. In places like ships and airplanes temporary power system work as the main source of power which is replaced or charged time to time.
The increasing demand for power coupled with growing instances of blackouts and power outages has boosted the adoption of temporary power solutions. The growth in construction activities and infrastructure development, and lack of power infrastructure in developing countries further supports the growth of the temporary power market. Additionally, increasing number of sports and corporate events, along with rising demand from hospitals, mining, and construction sites would boost the market growth during the forecast period. Other factors supporting market growth include increasing demand from developing economies, reducing cost of power generation, and technological advancements. Increasing adoption of data centers, growth in construction activities, and rapid urbanization further boost the market growth.
temporary power market
North America generated the highest revenue in the global temporary power industry in 2018 owing to increasing power demand from healthcare, utilities, and industrial sectors in the region. U.S. accounted for the highest share in the U.S. temporary power market owing to growth in construction and infrastructure development. Asia-Pacific region is expected to grow at the highest rate during the forecast period. The increasing demand for power supply from manufacturing sectors, and low rate of electrification have increased the demand for temporary power solutions in the region. Poor grid infrastructure, and increase in number of planned events further supports the temporary power market growth in Asia-Pacific
The well-known companies profiled in the market report include Hertz Equipment Rental Corporation, Ashtead Group PLC, Speedy Hire PLC, Caterpillar, Inc, Atlas Copco CB, Smart Energy Solutions, Cummins, Inc, Aggreko PLC, Diamond Environmental Services, LLC, and Kohler Co., Inc among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Polaris Market Research has segmented the temporary power market on the basis of product fuel type, power rating, end user and region:
Temporary Power Fuel Type Outlook (Revenue, USD Billion, 2015 – 2026)
Temporary Power Rating Outlook (Revenue, USD Billion, 2015 – 2026)
Less than 80 kW
81 to 280 kW
More than 280 kW
Temporary Power End User Outlook (Revenue, USD Billion, 2015 – 2026)
Oil and Gas
Temporary Power Regional Outlook (Revenue, USD Billion, 2015 – 2026)
Rest of Europe
Rest of Asia-Pacific
Rest of LATAM
Middle East & Africa
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