Global Temporary Power Revenue Market Was Valued At $9189.08 Million In 2017
Friday, 12 Oct, 2018
Increasing power consumption for industrial and commercial applications has built up a demand-supply gap in the power market. This gap is even more evident during the peak hours for electricity consumption. This has led to the development of power rental systems which are capable of providing temporary power during phases of the low power supply. Increasing power demand, lack of grid stability & support and low electrification rates are the major driving factors of the power rental market in the utilities segment. Lacking of electricity access, aging T&D infrastructure are driving the market for power rental solutions. The rise in construction and infrastructural activities are driving the market for power rental solutions. Increasingly frequent business activities are also a stimulating factor. According to the report, global revenue for Temporary Power market was valued at $9189.08 million in 2017, and is expected to generate revenue of $ 16864.9 million by end of 2025, growing at a CAGR of slightly above 7.89 % between 2017 and 2025.
Of the major players of Temporary Power, Aggreko maintained its first place in the ranking in 2017. Aggreko accounted for 7.467 % of the Global Temporary Power revenue market share in 2017. Other players accounted for 2.869 %, 2.528 % including Cummins and Caterpillar.
The market for Temporary Power consumption divided into six geographic regions: In North America, total Temporary Power accounted for 31.63 %. In the Europe, total Temporary Power accounted for 28.39 %. The market in China Temporary Power accounted for 12.49 %, in Japan 4.29%, in Southeast Asia 4.28%, in India 8.28% and in global other region 10.64 %. Among all regions, North America is estimated to represent the highest share. India is facing an acute power shortage due to the observed inability of dated and inefficient power infrastructure to support the growing energy demand of the public, as well as of the industries.
On the basis of product type, the Diesel segment is projected to account for the largest revenue share during the forecast period; this segment was estimated to account for 91.56 % revenue share in 2017.
Key end-use industries analyzed and reported in this study include government & utilities, oil & gas, industrial, events, construction and others. Government & utilities are expected to remain key end-user segments for power rental market over the next few years growing. Industrial and construction are one of the largest consumers of power, together accounting for over 40.95% market share of the total power rental market.