Global Power Pedestal Market: Introduction
Power pedestals are charging stations that provide custom power solutions for abundant and safe power in various end-use applications. These devices are used for outdoor service to meet temporary power requirements. Power pedestals provide power for marinas, campgrounds, parking lots, etc. and they are ideal for illuminated areas. For instance, campgrounds, outdoor dining areas and parking lots, among others. Power pedestals provide reliable and safe means for end users to access electricity at such locations. Power Pedestals are a convenient source of power to recharge golf carts and electric cars, are useful for charging block heaters in cold climates. Traditionally, these pedestals were made of metal and now they are often made of highly durable composites material. As electric cars gain popularity, more and more drivers will be looking for convenient places to 'power up' their vehicles.
Global Power Pedestal Market: Dynamics
The growing electricity demand from commercial, residential and institutional units is anticipated to drive the adoption of power pedestals. Power pedestals are being gradually used to provide temporary power supply to end-users, such as marine, construction sites, recreational parks and others. Power and energy utilities are focused on providing temporary power distribution, which has resulted in the increasing organization of substation automation, thus driving the market growth.
The impending technologies to increase efficiency of existing power distribution systems are continuously boosting the requirement for power pedestals. Therefore, marinas, construction sites and recreational parks among others are incorporating the existing technologies and developing novel power distribution systems through research and development so as to reduce power failures.
The availability of a wide variety of power pedestals across the market makes it difficult for end-users to make a choice. Availability of substitutes for power pedestals and the increased demand for electrical distribution systems are prominent challenges for this market. Furthermore, lack of skilled labour also affects the market growth. The shelf life of power pedestals is increasing, which may affect the sales of new equipment.
The marine industry segment has become extremely competitive and even more price sensitive. Innovation and sustainability are the trends followed in the market. The incorporation of high-end technology in power pedestals is a trend observed in the market. Power pedestals are also increasingly being used in recreational parks and construction sites as well as in residential, commercial and institutional applications. There is a demand for high accuracy power pedestals from the marina segment in order to stay ahead in the competition, which is creating opportunities for the global power pedestals market and is expected to continue doing so throughout the forecast.
Global Power Pedestal Market: Segmentation
Segmentation of the global power pedestal market by product type:
Segmentation of the global power pedestal market by end-user:
Global Power Pedestal Market: Region-wise Outlook
The marine industry is cutting edge and competitive in North America. As the power requirements become essential in end-use applications, the demand for high-performance power providing machine tools is increasing and thereby surging the demand for high accuracy power pedestals. The increase in marine and rising residential, commercial and industrial setups in Asia is an important driver for the power pedestal market in the region. Europe and North America are dominating the power pedestal market, owing to numerous camping sites, modern marinas, and river ports. Political stability and socio-economic reforms, coupled with the increased demand for energy, are further expected to push the growth of development in power pedestals, in turn creating demand for the necessary machine parts, equipment, and components in the region.
Global Power Pedestal Market: Market Participants
Some of the key participants identified across the value chain of global power pedestal market are mentioned below:
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