USD 4.7 billion
Temporary Power Market Size, Share, Growth Analysis, By Power Source(Diesel Generators, Gas Generators, Dual-Fuel Generators, and Solar Generators), By End Use(Utilities, Oil & Gas, Mining, Construction), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG55E2041 |
Region:
Global |
Published Date: March, 2024
Pages:
160
|Tables:
66
|Figures:
74
Temporary Power Market Insights
Global temporary power market size was valued at USD 4.7 billion in 2022 and is poised to grow from USD 5.22 billion in 2023 to USD 12.02 billion by 2031, growing at a CAGR of 11% in the forecast period (2024-2031).
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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Utilities
Fastest Growth
Construction
Growth Rate
11% CAGR
Global Temporary Power Market ($ Bn)
Country Share for North America Region (%)
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Temporary Power Market Segmental Analysis
The global temporary power market is segmented based on power source, end use, and region. In terms of power source, the market is segmented into diesel generators, gas generators, dual-fuel generators, and solar generators. Based on end use, the market is bifurcated into utilities, oil and gas, mining, construction, manufacturing. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the 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.
Global Temporary Power Market By End Use
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Temporary Power Market Regional Insights
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.
Global Temporary Power Market By Region
- Largest
- Fastest
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Temporary Power Market Dynamics
Drivers
Increasing Infrastructure Development
- Infrastructure development is rising rapidly around the world, and this is projected to bolster the demand for temporary power solutions over the coming years as more people demand uninterrupted power supply. High demand for continuous power in this increasing infrastructural landscape will primarily drive temporary power market growth going forward.
Special Events
- The number of events being organized around the world is increasing rapidly and this trend is also slated to create high demand for temporary power solutions over the coming years. The need for temporary power to make these events possible is slated to create new opportunities for market growth.
Restraints
Regulatory Hurdles
- Diesel generators are largely used for temporary power around the world however, stringent mandates banning the use of temporary power solutions that cause emissions could slow down the global temporary power market growth across the forecast period and beyond.
Environmental Concerns
- Some temporary power solutions might not be compatible with sustainability mandates as most temporary power solutions are run using diesel and other products that are not eco-friendly. Therefore, the lack of eco-friendly temporary power solutions is slated to impede market growth in the long run.
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Temporary Power Market Competitive Landscape
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
- Aggreko Ltd.
- Atlas Copco
- Kohler Co., Inc
- Bennett Engineering LLC
- Enerwhere
- APR Energy
- EcoFlow
- Smart Energy Solutions
- United Rentals Inc.
- Altaaqa Global
- Enerwhere
- Larson Electronics
- Caterpillar inc.
- Vertiv
- Energyst
- Ashtead Group
- Ericson Plc.
- Rental Solutions & Services LLC.
- Cummins Inc.
Recent Developments
- Advent Technologies, a renowned supplier of energy solutions, announced the launch of its new portable clean power solutions back in December 2023. The SereneP product line was especially designed to provide power in EV charging and construction applications.
- In November 2023, Hitachi, a leading name in the power industry, announced the launch of its new hydrogen gen sets which are an alternative to the traditional diesel-powered gen sets. This move is to bolster Hitachi’s commitment to sustainability.
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).
Temporary Power Key Market Trends
- Integration of Smart Technologies: Temporary power providers can integrate advanced and smart technologies in their products and services to optimize their efficiency and performance. Companies can also attract tech-savvy customers through this move. For instance, the use of artificial intelligence algorithms could optimize the efficiency of temporary power solutions and help comply with changing sustainability mandates as well.
Temporary Power Market SkyQuest Analysis
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 |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Temporary Power Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Temporary Power Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
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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