San Francisco, California, October 08, 2018: A recent report by TMR Research, titled, “Temporary Power Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” discusses key aspects of the market.
At the outset, it defines temporary powder as a source of electrical power to come in handy when traditional power sources do not work. Typically, temporary power sources comprise of battery sets or generators and can be powered by hydrogen fuel cells, deep cycle batteries, gasoline and diesel generators, flywheel energy storage, and others. Temporary power is one of the solutions to the distributions problems, namely blackouts and unplanned mishaps from downed lines, grid-wide failures, or substation malfunction.
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Majorly fuelling the global temporary power market is the swift pace of urbanization and industrialization in emerging economies in Latin America, Asia Pacific, and the Middle East and Africa. In the event of any emergency, the temporary power sources with their reduced turnaround time are just the solutions. Meanwhile, the developed nations in North America and Europe, with their superior power infrastructure hold out limited scope for the temporary power market.
The global temporary power market is also benefitting from the lessening cost of power generation. Posing a challenge to the market’s growth, on the other hand, are the stringent norms of emission, payment issues, and increasing focus of renewables. With thrust on curbing carbon pollution, rules are being framed to drive usage of solar, wind, hydro, and nuclear energy. Those are also being used to produce energy off-grid to supplement the existing supply of electricity from the main grid. This is dampening demand in the temporary power market.
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Prominent participants in the global power generation market that have been studied in the report include Ashtead Group Plc, Aggreko PLC, APR Energy Inc., Speedy Hire, Caterpillar Inc., and Cummins Inc.