Temporary Power Equipment Market: Technological Augmentation Drives Growth

Posted by Arslan on July 12th, 2019

In order to dissert the market scenario prevailing across the temporary power market sector, FactMR has evenly presented a comprehensive temporary power equipment market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the temporary power market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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Semi-permanent power sources are bridging the energy demand that is neither permanent nor temporary such as operations at remote places, mobile power needs and other unique power requirements. Energy demands across industry verticals, especially the construction industry, are evolving dramatically. Conditions such as variable power demand, emission and noise control standards, space constraints, and location accessibility among others are common in end-user applications of the temporary power market. To approach these challenges, manufacturers in the temporary power market have introduced semi-permanent power generation solutions that deliver variable power demands in utilities and other power-intensive industries. In addition, manufacturers deliver flexible power services including power equipment and infrastructure of semi-permanent power for long-term contracts. Owing to the growing demand for efficient, faster and unique needs of electricity, semi-permanent power sources are likely to be sought after considerably in near future in the temporary power market.

Growing reliance on the renewable energy sources against the backdrop of rising fuel prices, stringent emission standards, and increasing global energy demand has augured well for the temporary power market. Adoption of renewable energy resources remains prominent in the EU region while witnessing a significant shift from conventional to renewables in the past decade. In particular, wind, water and solar energy resources are significantly harnessed in major renewable energy plants across world regions. However, the renewable energy plants face challenges of weather-related intermittency such as periods of low wind and sunshine. This leads to intermittency in energy supply against the growing demand for power. With the potential to address power intermittency during not only unfavorable weather but throughout the entire lifecycle of the plant, temporary power sources are highly sought after in the renewables sector. The rapid expansion of wind and solar power generation presents lucrative opportunities for the temporary power market during forecast and beyond.

Growing Investments in Hybrid Power Solutions Contributing to Growing Adoption

Utilization of hybrid power solutions has increased significantly against the backdrop of power demand variations during operational and non-operational times in multiple industries. In times of low-power demand, hybrid power solutions that include both permanent and temporary power system, temporary power system takes over fuel generator, increases fuel efficiency, improves power output and reduce operational costs. Owing to their efficacy in power generation, manufacturers have introduced cost-efficient, durable, reduced maintenance, with low-emissions and noise-free hybrid power solutions.

Utilities at the Forefront of Temporary Power Source Demand

End-use verticals of the temporary power market include utilities, oil & gas, mining, construction, manufacturing, events & hospitality and others. Among these utilities sector is expected to present the highest demand for temporary power sources. As an expanding population across the globe coupled with rapid urbanization and industrialization presents an incremental demand for energy, need for temporary power sources is likely to swell in the years to come. That said the utilities sector is estimated to account for one-fourth of the total temporary source market revenue by 2018 end.

Construction and Mining Sectors to Follow Utilities for Temporary Power Source Consumption

Amelioration of the mining industry across world regions is set to present huge demand for portable power sources. Temporary power installations are common in the mining and construction industries where electricity is needed for a limited period of time or at a remote location. Further, significant investments in the infrastructure and construction activities in developing regions present lucrative avenues for the temporary power market. While utilities sector is expected to dominate, mining and construction sectors are collectively expected to account for over half of the total incremental $ opportunity generated in the temporary power market.

Rental Contracts to Seize Major Revenue of the Temporary Power Market

The temporary power market is marked by manufacturers operating in short-term rental contracts where temporary power systems are rented rather than owned. In fact, rental power plays a key role in delivering electricity demand of any intensity. As utilities sector continues to deal with an inadequacy of power capacity and broadening gap between supply and demand, the rental market for temporary power is being established in the sector. Leading suppliers of temporary power have specialized in power rental solutions and thus contribute to the largest market revenue share in the temporary power market.