Rental Contracts to Seize Major Revenue of the Temporary Power Market

Posted on 2019-07-03 by Mark Hub in Industrial // 0 Comments

Rockville, USA, 2019-Jul-03 — /EPR Network/ — Fact.MR’s new report on the temporary power market reveals compelling insights that are driving the transformation in the global landscape. Growing reliance on renewable energy resources and associated risk of intermittency remain the key factors influencing the temporary power market landscape. The marketplace is also likely to be impacted by government regulations and mandates, with the recent NEC 700.3(F) expected to increase installation of temporary power sources in the US. These insights are according to a new study by Fact.MR which remains bullish on the long-term prospects of the temporary power market. The report projects over 6% CAGR for the market through 2026.

Temporary power systems are installed for a definite period of time according to the end-user applications including construction, mining, utilities, oil & gas, manufacturing and others. Temporary power systems are rented on contractual basis and are mobile and portable installations rather than fixed and permanent power sources.

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According to the report, diesel generators will continue to be the preferred backup power solution for end-users. This segment is likely to hold over three-fourth revenue share of the market throughout the assessment period. Demand for different types of power sources is primarily driven by the growing need for a diverse energy mix. While gas generators are the second most lucrative temporary power source segment, solar generators are witnessing impressing sales. The buoyancy in the solar generators segment can be attributed to a combination of multipronged factors, including government subsidies and growing awareness among end-users.

A combination of rising global energy demand and escalating fuel prices is prominently analyzed in the study which, in turn, is responsible for the shift of energy preference towards renewable energy resources. According to the report, the renewable energy plants are actively installing temporary power sources such as diesel and gas generators to offset the risk of intermittency caused by weather-related uncertainty and ensure long-term energy security. These developments are likely to spur sales of temporary power sources, with an expected US$ 7,000 million opportunity likely to emerge by 2026

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.

The market segmentation briefed in the form of market taxonomy is elaborated in this section. The temporary power market is categorized based on power source, end use and regions. On the basis of power source, the temporary power market is segmented into diesel generator, gas generator, dual fuel generator and solar generator. Further, the market is segmented based on end uses such as oil & gas, utilities, mining, construction, manufacturing, event & hospitality and others.

The temporary power market report provides valuable insights on the key players operating in the global landscape. The competitive landscape chapter in the temporary power market report provides a comprehensive list of key companies, their market shares, overall revenue generated, recent innovations, company strategies and other notable business developments. Key companies operating in the temporary power market include Larson Electronics LLC, Cummins, Inc., Aggreko Plc., Energyst B.V., SES Smart Energy Solutions FZCO, Hybrid Power Hire, Bennett Engineering LLC, Sudhir Rental Solution, Ashtead Group plc., Enerwhere, Altaaqa Global and APR Energy among others.

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