Temporary Power Market 2021 Risk, Industry Upstream, Forecast and CAGR - 2027
Temporary Power Global Market – Overview
The global Temporary Power Market is a very dynamic market and is expected to witness high growth over the forecast period. The increased application of temporary power across various sectors is majorly influenced by the growing demand for uninterrupted & reliable power supply. Also, the increasing number of power outages and power failure in the developing and underdeveloped countries across the world is creating a huge demand for power backup devices, which is catered through temporary power devices. As per the study conducted by Market Research Future, the global market for temporary power is likely to grow at the CAGR of around 10%.
Electricity has become a vital prerequisite for augmenting economic activity and improving quality of life. The growing demand for uninterrupted and reliable power supply has become a necessity in today’s world. So as to support this growing need, a reliable source of power generation is required. Temporary power provide a continuous, prime and standby source of power generation at events, construction, mining and others. In the last decade, several technological advancements have helped upgrading temporary power which have improved their fuel efficiency, subsequently their diesel or gas engine technology. Temporary power is an independent source of the electric power that supports the industries and other sectors with the power supply in situations such as blackouts and power outage. Power failures are the very serious problem in areas such as hospitals, mines, sewage treatment plants, etc.
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Hence there is always a necessity to have an alternative for this problem which is solved by the temporary power. The growth in the temporary power systems are attributed to the factors such as the growing infrastructural activities, the growing amount of planned events and the lack of electric supply. Events are the major end-users of temporary power solutions. In 2016, events constituted the largest segment of the temporary power industry, and accounted for the largest share of the total industry. Events include sports, media and entertainment activities, which require continuous power supply. The increase in the number of planned events is expected to drive the temporary power systems in the events segment.
Geographically, the global Temporary Power Generation Market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, North America dominated the temporary power market followed by the Asia Pacific and South America. The country that accounted for the major share in the temporary power market is the US. The factor that attributed to this growth is the T&D infrastructure that is aging which causes blackouts and frequent outages of power. The getting better construction industry in the North American region is the prime factor that is contributing towards the temporary power market growth. There are many countries around the globe that do not have access to electricity which will fuel the demand of temporary power market.
Key Players:
- Aggreko PLC (U.K.)
- Ashtead Group Plc (U.K.)
- Caterpillar Inc. (U.S.)
- Hertz Corporation (U.S.)
- Speedy Hire (U.S.)
- Smart Energy Solutions (UAE)
- Power Electrics (U.K.)
- United Rentals (U.S.)
- Cummins Inc.(U.S.)
- Rental Solutions and Services (UAE)
- APR Energy Inc. (U.S.) and Kohler (U.S.)
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
Continued…
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