San Francisco, California, June 28, 2017: A recent market research report by TMR Research gives a detailed analytical account of the global temporary power market. The report titled “Temporary Power Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” states that the market will chiefly benefit from the rising consumption of electricity across the globe. Rapid pace of development of the infrastructure and construction sectors and a general dearth of proper electricity production and distribution infrastructure, especially across certain developing and less developed economies across the globe, will provide massive impetus to the market’s growth in the near future.
Benefits of temporary power technologies such as less turnaround time and provision of services across remote locations are also expected to bolster the growth prospects of the global temporary power market in the next few years. Companies in the market could benefit from the vast reductions in cost of power generation, vast potential of expansion across developing economies with heavy industrialization, and obsolete power generation and distribution infrastructure.
However, the market is projected to bear the brunt of challenges such as stringent workforce safety norms and the increasing focus on the adoption of renewable power sources, issues related to payment, and the vast rise in T&D expenditure. In terms of revenue generated from key end users, the market is expected to benefit the most from the oil and gas industry. In terms of type of fuel, the segment of diesel generators is expected to present massive growth opportunities.
On the regional front, the report includes an analytical account of the market for temporary power across regional markets such as North America, Europe, Asia Pacific, Latin America, South America, and Middle East and Africa. Of these, the market across North America, South America, and Asia Pacific are expected to emerge as the prominent revenue contributors to the global market over the next few years.
The promising demand for temporary power in these regions is chiefly attributed to factors such as the rising demand for capacity expansion of the power sector to provide for the massive rise in power consumption. In several developing and less developed economies in Asia Pacific, the dated grid infrastructure and low electrification rates are also expected to fuel the demand for temporary power.
The report presents a detailed overview of the vendor landscape of the global temporary power market, providing detailed business profiles of some of the leading vendors contributing to the market with the help of their products and services. Some of the leading vendors operating in the market are Cummins Inc., Aggreko PLC, APR Energy Inc., Hertz Corporation, Ashtead Group Plc, Speedy Hire, United Rentals, and Caterpillar Inc.