USD 4.7 billion
Report ID:
SQMIG55E2041 |
Region:
Global |
Published Date: November, 2024
Pages:
160
|Tables:
66
|Figures:
74
Temporary Power Market size was valued at USD 5.22 Billion in 2023 and is poised to grow from USD 5.79 Billion in 2024 to USD 13.34 Billion by 2032, growing at a CAGR of 11% during the forecast period (2025-2032).
Temporary power refers to the systems or solutions that provide flexible and reliable power in various industries such as oil and gas, events, manufacturing, and construction. Temporary power, the name itself suggests that these systems are used for the short-term basis of energy consumption. The temporary power market is increasing rapidly across the world. The growing trend of rental power systems is creating profitable opportunities for temporary power providers. The rise in construction and infrastructure projects across the globe is driving the temporary power market growth. Various infrastructure development projects such as bridges, smart cities, or roads are contributing to high demand for reliable power sources during the construction period. Compared to traditional generators advanced temporary power systems are gaining popularity. Advancements in power generation technology such as energy storage, smart grids, and more are positively boosting the market growth. Rapid urbanization and industrial activities across the group are also boosting the demand for temporary power solutions. The event and entertainment industry also majorly uses temporary power solutions to meet reliable and mobile power supply.
Global Market Size
USD 4.7 billion
Largest Segment
Utilities
Fastest Growth
Construction
Growth Rate
11% CAGR
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Global Temporary Power Market is segmented by Fuel Type, Generator Rating, End User and region. Based on Fuel Type, the market is segmented into Diesel, Gas, & Others (Dual Fuel & HFO). Based on Generator Rating, the market is segmented into Less than 80 kW, 81-280kW, 281-600 kW, above 600 kW. Based on End User, the market is segmented into Events, Utilities, Oil & Gas, Construction, Mining, Manufacturing, & Shipping. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Power Source
The diesel generator segment is set to hold a major global market share in 2024. Diesel generators are widely demanded due to their unique characteristics and suitability for specific applications. Diesel generators are widely used in the robust construction sector. Versatile diesel generators are gaining traction in industrial settings. Diesel generators are also expected to be cost-effective in some regions due to the competitive price of diesel. Moreover, throughout the forecast period the diesel generator segment is expected to dominate the global market growth.
Demand for dual fuel generators is increasing at the fastest CAGR during the study period. Advancements in engine technology are likely to boost the use of dual-fuel generators. This modern dual fuel technology helps in switching fuel easily. In remote locations where fuel availability may be unpredictable dual-fuel generators are widely popular. A dual switch control system also helps in cost-effectiveness as it allows for a switch between the fuels.
Analysis by End Use
The utility segment holds the major share of the global market. The use of temporary power solutions in the utility sector is given by the need for flexible and reliable power sources. Utility companies often undertake repair maintenance and infrastructure upgrade activities and for this they need effective power supply solutions. The increasing integration of renewable energy sources is further boosting the sales of temporary power solutions. Ongoing construction activities related to renewable energy projects are increasing the adoption of temporary power systems. Temporary power solutions are important in rapid emergency response and recovery efforts.
Demand for temporary power solutions in the construction sector is increasing at a healthy pace. The diverse power requirements associated with construction activities are increasing the adoption of temporary power solutions. Construction sites may hold temporary events such as groundbreaking or road projects. Temporary power systems are vital for providing power to such in modular construction where components or parts are assembled of sight and transported for installation increasing the need for temporary power solutions. Furthermore, projects such as welding and fabrication activities on the construction sites also require a stable power source. All such factors are increasing the popularity of temporary power solutions in the construction sector.
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North America is the dominant market for temporary power solution suppliers. North America holds the major share of the global temporary power market. The ongoing robot construction activities and increasing demand from the oil and gas sectors are boosting the sales of reliable power supply systems. The presence of key markets particularly the United States and Canada is boosting the demand for temporary power solutions. Strict environmental regulations are increasing the adoption of sustainable temporary power solutions in the region.
Demand for temporary power solutions in the Asia Pacific region is expected to increase at a rapid pace during the forecast period. High-growth economics such as China in India are contributing to the growth of the temporary power market. China and India are witnessing rapid urbanization and infrastructure development activities which are directly influencing the sales of reliable power supply systems. The increasing frequency of natural disasters in Japan is also leading to the high demand for temporary power solutions.
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Drivers
Increasing Infrastructure Development
Special Events
Restraints
Regulatory Hurdles
Environmental Concerns
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Temporary power companies can bolster their rental and leasing services by introducing new offers and providing highly affordable services. Temporary power market players can target developing economies to maximize their revenue generation potential and bolster global market presence as well. Temporary power providers can also develop and offer customized temporary power solutions for industries and other end users to amplify their business reach. Mergers, collaborations, acquisitions, and partnerships are also estimated to be popular strategies among temporary power companies to enhance their market presence on a global and regional level.
Top Player’s Company Profiles
Recent Developments
In October 2023, Aggreko, a renowned provider of modular power solutions, announced the launch of its 4 new tier 4 generators in Canada. The new offerings are compliant with the Canadian Environmental Protection Act’s (CEPA).
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, rapid urbanization around the world and high investments in infrastructure development around the world are forecasted to primarily bolster sales of temporary power solutions in the long run. Growing disposable income and rising willingness to spend for uninterrupted power supply are also factors that could bolster the demand for temporary power services across the forecast period. However, regulatory challenges are projected to be a major restraint for the overall temporary power market growth going forward. North America is predicted to hold a massive chunk of the global temporary power market share owing to high adoption of temporary power solutions from different industries in this region. Temporary power market players can focus on integration of smart technologies to amplify their sales potential and attract an increasingly tech-oriented customer base.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 4.7 billion |
Market size value in 2031 | USD 12.02 billion |
Growth Rate | 11% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Temporary Power Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Temporary Power Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Temporary Power Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Temporary Power Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG55E2041
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