Due to the rising demand for great fuel efficiency, increased power output, and lower operating costs, the demand for temporary electricity has increased significantly during the previous five years. While the construction industry’s constant growth has boosted sales, numerous laws, programmes, and government investments have also accelerated the need for temporary electricity.
The advantages of temporary power over regular power are numerous and well-researched, making the market extremely profitable for equipment providers, manufacturers, and the export and import sector. During the projection period, the global temporary power market is anticipated to grow by more than 5%, with the building and construction sector expected to pick up speed.
Temporary Power Utilities Segment to Emerge as the Primary End-Use Industry
The utilities industry, which is in charge of supplying necessities like water, electricity, natural gas, and others, is heavily dependent on the supply of transient power. It is therefore anticipated to become the main application area in the approaching forecast period.
According to data from The World Bank, the average global per-person power consumption is 2,782 KWh and is gradually rising in response to the rising demand. According to the EIA’s November 2020 report, China overtook Japan as the world’s top energy consumer in 2019, with Japan falling to fifth place.
• 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.
• Altaaqa Global
• APR Energy
How is Focus on Energy Efficiency Boosting Temporary Power Equipment Sales?
Because it is so effective at supplying the necessary power in a reasonably priced, hassle-free manner, temporary power has grown in favour across a variety of end-user categories, including building & renovation, mining, utilities, and others. The expansion of temporary power has been sparked by growing energy concerns and following actions done by governmental entities.
According to a report by the European Commission, the European Union (EU) committed to decreasing energy consumption by 20% by 2020 compared to baseline predictions, and the EU has a legally binding aim of at least 32.5% reduction for 2030.
Also, according to the Energy Information Administration (EIA) report “Energy Efficiency and Conservation- U.S.,” there was a record slowdown in energy efficiency internationally in 2018, but it did somewhat improve by 1.2% compared to 2017. Manufacturers and suppliers now have the chance to strengthen their position in the temporary power market.
Although there are all-in-one solutions for space and time limitations, a limited budget, and energy loss with temporary power, there are a few obstacles that are likely to prevent the further development of these sources in the future.
For instance, the main sources of temporary power, renewable energy plants, have a number of limitations, such as erratic weather patterns. Hence, solar-powered equipment would be rendered useless on a gloomy day, and wind-powered equipment would be useless on a day with no breeze.
Also, there are regulations and guidelines that must be followed when setting up and taking down temporary power setups. It therefore has to be handled and maintained by professionals.