ACCESSWIRE
20 Jan 2021, 00:05 GMT+10
Extensive uptake across the construction, utilities and oil & gas segments likely to provide a tremendous boost to market growth in forthcoming years
ROCKVILLE, MD / ACCESSWIRE / January 19, 2021 / Fact.MR's recently published report estimates the global temporary power market to scale new heights, expanding at over 5% Y-o-Y growth rate in 2021. The long-term outlook remains positive, with an anticipated CAGR worth nearly 6% CAGR between 2020 and 2030. Extensive developments across the construction industry is likely to steer growth in a positive direction.
Prolific developments are in store for the United States market, attributed to the growing numbers of construction projects being undertaken in recent years. According to the Associated General Contractors of America, the US construction industry generates almost US$ 1.3 trillion of structures each year. Hence, Fact.MR projects it to lead by nearly a third of the market share across the forecast period.
Furthermore, Fact.MR also projects growth to flourish amid heightened oil & gas exploration activities. In spite of a sharp drop in production amid the coronavirus crisis, the industry is expected to make significant gains in the future. The International Energy Agency expects global oil demand to surge by nearly 6 million barrels per day until 2025, thus paving way for increased exploration projects. Thus, Fact.MR expects the demand for temporary power to aggrandize until 2031.
'Prominent manufacturers are targeting lucrative markets, especially across the emerging economies of the Asia-Pacific region, attributed to a surging demand for energy which is providing stimulus to the utilities segment,' says the Fact.MR analyst.
Request a report sample with 170 pages to gain comprehensive insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=1672
Key Takeaways from Fact.MR's Temporary Power Study
Prominent Drivers
Key Restraints
Discover more about the global temporary power market with 85 figures and 23 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/1672/temporary-power-market
Competition Analysis
Fact.MR's temporary power market report has profiled the following players: Larson Electronics LLC, Hybrid Power Hire, Aggreko Plc., Cummins Inc., SES Smart Energy Solutions FZCO, APR Energy, Enerwhere, Altaaqa Global, Energyst B.V., Sudhir Rental Solutions, Ashtead Group Plc. and Bennett Engineering LLC among others.
With the entry of more players each year, the market is becoming highly competitive, prompting existing vendors to undertake numerous expansion strategies ranging from capacity expansion and strengthening distribution networks to acquiring smaller players, introducing new product lines and continuous R&D to bring about innovations in product design and advanced marketing strategies.
More Insights on Fact.MR's Temporary Power Market
In the latest report by Fact.MR, we offer an unbiased analysis of the global temporary power market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030. In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of power source (diesel generator, gas generator, dual fuel generator, solar generator), end use (utilities, oil & gas, mining, construction, manufacturing, events and hospitality, and others), across six major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
Get Access to the Full Report https://www.factmr.com/checkout/1672/S
Explore Fact.MR's Coverage on the Industrial Goods Division
Coal Handling Systems Market: Fact.MR's extensive study on the global coal handling systems market provides both quantitative and qualitative insights on the prominent drivers, opportunities and restraints likely to impact growth trajectory across the forecast period ranging from 2020-2030, providing in-depth information across key regions and prominent segments.
Plastic Containers Market: The plastic containers market research report compiled by Fact.MR offers detailed insights on the key growth dynamics for the historical period 2015-2019 and forecast period 2020-2030, bringing to fore valuable insights which assists stakeholders make informed business decisions.
Smart PPE Market: Explore Fact.MR's exhaustive coverage on the smart PPE market to avail insightful information concerning key growth patterns responsible for shaping the historical (2015-2019) and future (2020-2030) growth trajectories across six prominent regions.
About Fact.MR
Fact.MR is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. Fact.MR is headquartered in Dublin, Ireland, and has delivery centers in the U.S. and India. Fact.MR's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
SOURCE: FactMR
Get a daily dose of Detroit Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Detroit Star.
More InformationWASHINGTON, DC - Following accusations of sexual harassment against New York Governor Andrew Cuomo, White House press secretary Jen Psaki ...
SAN FRANCISCO, CA: Small earthquakes reaching magnitude 3.7 were felt along California's Central Coast after midnight on Sunday, according to ...
WASHINGTON DC: Speaking to reporters on Sunday, Dr. Anthony Fauci said he would not hesitate to be inoculated with the ...
NEW YORK, New York: Following news reports that the National Football League (NFL) had signed a new agreement with Walt ...
WASHINGTON DC: Even as the U.S. Centers for Disease Control and Prevention is monitoring outbreaks of the Ebola virus in ...
WASHINGTON DC: The U.S. Centers for Disease Control and Prevention reports that it has distributed 96,402,290 doses of Covid vaccines ...
WASHINGTON D.C.: As preparations are underway to begin shipping Johnson and Johnson's COVID-19 vaccines this week, reports have been released ...
NEW YORK, New York: As lingerie company Victoria's Secret prepares to look for a new owner, the price tag for ...
NEW YORK, New York: After delisting three of China's biggest telecommunications companies this year - China Mobile, China Telecom, and ...
WASHINGTON, DC: Joining other major U.S. retailers who have announced a hike in minimum wage for employees, Costco has said ...
Peru is getting another weapon in its battle against the spread of COVID-19 on Wednesday.President Francisco Sagasti said his country ...
Jared Butler had 25 points and made a key layup to force overtime, and Davion Mitchell hit the go-ahead basket ...