Dubai, UAE, July 13, 2023 (GLOBE NEWSWIRE) -- As per the recent report published by Extrapolate, the Global Temporary Power Market size was valued at USD 12.06 billion in 2021 and is anticipated to reach USD 20.34 billion by 2028, exhibiting a CAGR of 7.75% through the forecast period. During emergencies, blackouts, and power outages, temporary power is essential for supporting business operations in factories, industries, and numerous other areas. Sewage treatment facilities, hospitals, and mines also require temporary electricity during emergencies.
Additional factors aiding the growth of the market include an increase in infrastructure projects, a lack of power sources, and the demand for electricity in remote places. Furthermore, an aging power infrastructure, an upsurge in construction activities, and growing demand for dependable and continuous electricity is set to fuel market growth. Portable inverter generators are expected to increase in popularity over the next few years as a result of the rising demand for continual availability of electricity.
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Competitive Landscape
Key industry players are concentrating on technological improvements, innovations, and investments in R&D activities to address the emerging needs of consumers. Additionally, market participants are implementing a number of strategic initiatives to strengthen their market position. The past decade has seen an increase in interest towards clean energy. To that effect, many industry players are exploring technologies and solutions for developing greener products, which is foreseen to positively impact the market scenario.
The top players operating in the global temporary power market are:
- Aggreko
- Cummins
- Caterpillar
- United Rentals
- APR Energy
- Ashtead Group
- Sudhir Power Ltd.
- Atlas Copco
- Herc Holdings Inc
- Power Electrics
- Generator Power
- Speedy Hire
- HSS
- Shaanxi Communication Power Technology Co., Ltd.
- Trinity Power Rentals
- Diamond Environmental Services
- Rental Solutions and Services
- Quippo Energy
- Temp-Power
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Global Temporary Power Market Segmentation Analysis:
Market Segmentation by Type:
- Diesel
- Gas and HFO and Petrol
High Electricity Generation Capacity of Diesel to Propel Temporary Power Market Growth
The diesel segment dominated the market in recent years, accounting for the highest revenue share, and is anticipated to retain its dominance throughout the projection period. These generators use diesel to produce energy, while gas generators are preferred as a way to completely eliminate harmful GHG emissions. As they offer a higher capacity for producing energy, diesel generators are ideal for industrial applications, such as mining, construction, utilities, oil & gas exploration, and so on.
The market for diesel-driven temporary power is projected to grow owing to various factors, including easy availability, affordability, and high efficiency. Additionally, diesel has a wide range of uses in the manufacturing and production industries, which contributes to the growth of the market. As a result of frequent power outages and blackouts caused by deteriorating grid infrastructure, the demand for energy from developing countries is proliferating. Power outages can be quite expensive in the industrial and commercial sectors since they may result in production losses. Diesel generators are becoming increasingly crucial as they provide electricity to commercial, residential, and industrial sectors during power outages, preventing any interruptions in operations.
Market Segmentation by Application:
- Government and Utilities
- Oil and Gas
- Events
- Construction
- Industrial
- Others
Surge in Industrialization and Construction to Drive Temporary Power Market Growth
The construction segment led the market in terms of revenue in recent years due to an increase in construction activities. The market for temporary power is expanding as a result of rapid industrialization and an increase in construction activities, both of which require an uninterrupted power supply. The demand for dependable power supply is increasing for newly scheduled events, including international athletic events and musical performances, which is strengthening the market for temporary power. Oil & gas development, seaborne trade, and prevalent shipping activities are further stimulating market growth.
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Increasing Demand for a Reliable Continuous Source of Power to Bolster Market Growth
The growth of the temporary power market is being propelled by the soaring need for dependable power sources. Temporary power is an exceptional energy source during blackouts and outages, hence the demand for uninterruptible power increases. Since electricity costs are rising, daily operations are being disrupted, and blackouts have an adverse effect on the economy of a nation, temporary power sources are pivotal. Numerous unique characteristics of temporary electricity include power sustainability, dependability, and efficiency.
The growth of construction and infrastructural activities, the absence of a robust electricity supply, and the rise in the number of planned events are fueling the temporary power market. The requirement for temporary power has tremendously grown due to the increasing demand for high fuel efficiency, enhanced power output, and minimized operational costs. The market is witnessing a spike in energy demand across several end-user applications, including renovation, mining, utilities, and more. These applications rely on temporary power as a cost-effective and hassle-free solution to meet their energy requirements. Governments in both developed and developing countries are actively taking initiatives to address and mitigate energy-related concerns.
High Costs to Restrain the Growth of the Global Temporary Power Market
The growth of the market is primarily hindered by the significant cost associated with the deployment and maintenance of temporary power solutions. In addition, factors including the COVID-19 crisis, increased intermittency risk, and climatic changes are anticipated to limit market growth in the upcoming years.
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Technological Developments in North America to Propel Market Growth
North America dominated the global market for temporary power due to fast-paced industrialization and advancements in technology that require a safe, reliable, and uninterrupted power supply. The temporary power demand is escalating to avoid frequent power outages and blackouts caused by the shifting weather conditions in the region. The regional market is anticipated to experience robust growth due to rapid industrial and technological development.
The surging demand for a secure, reliable, and uninterrupted power supply, along with the cumulative installation of data centers that require uninterruptible power to prevent significant losses, are contributing to industry development. Furthermore, unpredictable weather patterns that frequently cause blackouts and power outages are likely to support regional market growth.
Key Points from TOC:
1 Research Methodology and Statistical Scope
1.1 Market Definition and Statistical Scope of Temporary Power
1.2 Key Market Segments
1.2.1 Temporary Power Segment by Type
1.2.2 Temporary Power Segment by Application
1.3 Methodology & Sources of Information
1.3.1 Research Methodology
1.3.2 Research Process
1.3.3 Market Breakdown and Data Triangulation
1.3.4 Base Year
1.3.5 Report Assumptions & Caveats
2 Temporary Power Market Overview
2.1 Global Market Overview
2.1.1 Global Temporary Power Market Size (M USD) Estimates and Forecasts (2017-2028)
2.1.2 Global Temporary Power Sales Estimates and Forecasts (2017-2028)
2.2 Market Segment Executive Summary
2.3 Global Market Size by Region
3 Temporary Power Market Competitive Landscape
3.1 Global Temporary Power Sales by Manufacturers (2017-2022)
3.2 Global Temporary Power Revenue Market Share by Manufacturers (2017-2022)
3.3 Temporary Power Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.4 Global Temporary Power Average Price by Manufacturers (2017-2022)
3.5 Manufacturers Temporary Power Sales Sites, Area Served, Product Type
3.6 Temporary Power Market Competitive Situation and Trends
3.6.1 Temporary Power Market Concentration Rate
3.6.2 Global 5 and 10 Largest Temporary Power Players Market Share by Revenue
3.6.3 Mergers & Acquisitions, Expansion
4 Temporary Power Industry Chain Analysis
4.1 Temporary Power Industry Chain Analysis
4.2 Market Overview and Market Concentration Analysis of Key Raw Materials
4.3 Midstream Market Analysis
4.4 Downstream Customer Analysis
5 The Development and Dynamics of Temporary Power Market
5.1 Key Development Trends
5.2 Driving Factors
5.3 Market Challenges
5.4 Market Restraints
5.5 Industry News
5.5.1 New Product Developments
5.5.2 Mergers & Acquisitions
5.5.3 Expansions
5.5.4 Collaboration/Supply Contracts
5.6 Industry Policies
6 Temporary Power Market Segmentation by Type
7 Temporary Power Market Segmentation by Application
8 Temporary Power Market Segmentation by Region
9 Key Companies Profiled
9.1 Aggreko
9.1.1 Aggreko Temporary Power Basic Information
9.1.2 Aggreko Temporary Power Product Overview
9.1.3 Aggreko Temporary Power Product Market Performance
9.1.4 Aggreko Business Overview
9.1.5 Aggreko Temporary Power SWOT Analysis
9.1.6 Aggreko Recent Developments
9.2 Cummins
9.2.1 Cummins Temporary Power Basic Information
9.2.2 Cummins Temporary Power Product Overview
9.2.3 Cummins Temporary Power Product Market Performance
9.2.4 Cummins Business Overview
9.2.5 Cummins Temporary Power SWOT Analysis
9.2.6 Cummins Recent Developments
9.3 Caterpillar
9.3.1 Caterpillar Temporary Power Basic Information
9.3.2 Caterpillar Temporary Power Product Overview
9.3.3 Caterpillar Temporary Power Product Market Performance
9.3.4 Caterpillar Business Overview
9.3.5 Caterpillar Temporary Power SWOT Analysis
9.3.6 Caterpillar Recent Developments
9.4 United Rentals
9.4.1 United Rentals Temporary Power Basic Information
9.4.2 United Rentals Temporary Power Product Overview
9.4.3 United Rentals Temporary Power Product Market Performance
9.4.4 United Rentals Business Overview
9.4.5 United Rentals Temporary Power SWOT Analysis
9.4.6 United Rentals Recent Developments
9.5 APR Energy
9.5.1 APR Energy Temporary Power Basic Information
9.5.2 APR Energy Temporary Power Product Overview
9.5.3 APR Energy Temporary Power Product Market Performance
9.5.4 APR Energy Business Overview
9.5.5 APR Energy Temporary Power SWOT Analysis
9.5.6 APR Energy Recent Developments
…………….
10 Temporary Power Market Forecast by Region
11 Forecast Market by Type and by Application (2022-2028)
12 Conclusion and Key Findings
Browse Complete TOC: https://www.extrapolate.com/toc/energy-and-power/temporary-power-market-report/40959
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