Power Pedestals Market: Introduction
- Power pedestals are charging stations that deliver custom power solutions for various end-use applications
- These devices are largely designed for outdoor service to meet temporary power requirements at construction sites, marinas, and recreational vehicles. Power pedestals provide safe and reliable means for users to access electricity
- Power pedestals are a convenient source of power to recharge golf carts and electric cars. They are useful for charging block heaters in cold climates. Traditionally, these pedestals were made of metal. Currently, they are often made of highly durable composite materials.
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Key Drivers and Restraints of Power Pedestals Market:
- Rise in demand for electricity in residential, commercial, and institutional sectors is anticipated to drive the adoption of power pedestals. According to the U.S. Energy Information Administration (EIA), electricity consumption in the U.S. stood at about 3.95 trillion kWh in 2018.
- Power and energy utilities across the globe are focused on providing temporary power distribution. This has resulted in the increasing organization of substation automation, hence driving the market growth.
- Availability of substitutes for power pedestals and increase in demand for electrical distribution systems are prominent challenges for the market. Furthermore, lack of skilled labor is negatively impacting the market.
Stainless Steel (SS) Power Pedestal Segment and Marina Power Application Segment to Offer Attractive Opportunities:
- The power pedestals market can be segmented based on product, application, and region
- Based on product, the global power pedestals market can be divided into stainless steel (SS) power pedestal, polycarbonate power pedestal, lightweight composites, aluminum power pedestal, and others. Stainless steel (SS) power pedestal segment is expected to expand at a rapid pace during the forecast period. Stainless steel power pedestals meet and exceed all applicable codes and withstand harsh inland and coastal environments. For long lasting durability and low maintenance, stainless steel pedestals are the highly resilient power centers.
- The lightweight composites segment is expected to expand at a sluggish pace during the forecast period. Lightweight composites may not have sufficient mechanical strength to withstand harsh conditions.
- Based on application, the power pedestals market can be segregated into marina power, construction site, recreational vehicle (RV) parks, and others
- Marina power segment dominated the global power pedestal market in 2018
- When power pedestal are used at a construction site, they are installed on a temporary basis until permanent electrical power is available at the building
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Asia Pacific Expected to Hold Significant Share of Global Power Pedestals Market:
- In terms of region, the global power pedestals market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
- North America dominated the global power pedestals market in 2018 owing to the presence of numerous camping sites, modern marinas, and river ports. Political stability, socio-economic reforms, and increase in demand for energy are expected to drive the development of power pedestals, thereby creating demand for the necessary machine parts, equipment, and components in the region
- The market in Asia Pacific is anticipated to expand at a significant pace during the forecast period. Power consumption in Asia Pacific has increased considerably over the last few years. Strong growth of economy and rise in population have led to an increase in the consumption of power.
- Rise in infrastructure development activities is also boosting the demand for electricity. China consumed 5,367 TWh of electricity in 2016. Its consumption rose to 5,683 TWh in 2017.
- China, India, and Japan are the major countries of the power pedestals market in Asia Pacific
- The market in Latin America and Middle East & Africa is estimated to expand at a sluggish pace during the forecast period
- In April 2015, Technology Research, a Southwire company, acquired Ensign Power Pedestals, a maker of RV and marine power pedestal products. The acquisition adds Ensign’s line of power pedestals to the Technology Research line of products that include the Surge Guard and Shoreline Reels.
- In March 2018, AC Dandy Products Ltd introduced its new FLEX POST Power Pedestals. FLEX POST power pedestalsbend without breaking, and do not rip up their concrete base, eliminating public danger from broken wires by protecting the wiring housed inside
Key Players in Power Pedestals Market:
The global power pedestals market is highly concentrated, with the top companies accounting for approximately 45% to 50% share. Key players operating in the power pedestal market include
- Marina Electrical Equipment, Inc.,
- HydroHoist Marine Group
- Ace Manufacturing Metals Ltd
- Power Master, Vickery Electric Ltd
- Power Marine Centre Inc.
- General Electric, Attwood Corporation
- Marina Power Company
- Legrand North America, LLC
- Dock Boxes Unlimited
- Gescan a Division of Sonepar Canada Inc
- MonoSystems, Inc., among others.
- ENSIGN Power Pedestals
Global Power Pedestals Market: Research Scope
Global Power Pedestals Market, by Product
- Stainless Steel (SS) Power Pedestal
- Polycarbonate Power Pedestal
- Lightweight Composites
- Aluminum Power Pedestal
Global Power Pedestals Market, by Application
- Marina Power
- Construction Site
- Recreational Vehicle (RV) Parks
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.