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The temporary power market is expected to reach 6.4 billion USD by 2021 globally. The market is expected to grow at a growth rate of 10.6% from 2020 to 2025. Due to lack of electricity supply, rise in construction and infrastructural activities, and increased number of planned events, there is a huge demand for temporary power across the globe.
The utilities segment recorded the largest market size. The growth is due to aging power grid infrastructure in developed countries and in developing regions such as Asia Pacific and Africa due to the lack of electricity. Frequents blackouts are caused by poor grid infrastructure, thus giving rise to the need for rental power. The oil and gas industry held the second-largest share. The rise in demand for continuous power supply and growing industrialization are expected to increase the temporary power market share. Based on power rating, temporary power is classified into less than 80kW, 81- 280kW, 281 kW -600kW and above 600 kW. The power generators which are rated 600kW, their demand is expected to increase since they are used in a wide range of applications such as in the oil and gas, utilities and mining sectors. Based on fuel, the temporary is divided into diesel, gas, and other generators. During the coming years, the demand for diesel generators is expected to increase as they are used in a wide range of applications across various sectors. The largest market share is held by North America, followed by the Asia Pacific and South America.
The key market drivers are the growth in power demand and capacity expansion plans by temporary power companies. Due to the low rate of electrification and poor grid infrastructure that propel the demand for diesel generator in the Asia Pacific and Africa, they are estimated to grow faster. In the Asia Pacific, China dominated the temporary power market due to an increase in the number of planned events. The independent source of electric power, which supports various sectors with the power supply in situations such a blackouts and power outage is known as temporary power. It helps end-users to run equipments and tools over an extended period since it is a continuous, uninterrupted and reliable power source. The temporary power is used in events, utilities, construction, and mining, and these solutions help end users save lead time and monetary expenditures. As these units can be installed and used easily, the temporary power market is expected to grow in the near future. One of the key end-users for temporary power is the utility as they use temporary power sources to meet the increasing demand for electricity during peak hours. Factors such as rising investments globally and payment issue are the factors which will hinder the growth of the temporary power market across the globe. The demand for temporary power is expected to grow due to increased dependence on renewable energy sources against the backdrop of rising fuel prices, stringent emission standards and increasing global energy demand. Moreover, mobile, hybrid, and portable temporary power installations are expected to drive the market for temporary power. In the temporary power market, Asia Pacific is expected to have the fastest growth during the coming years.
Key Market Players
The key market players are:
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The report offers a comprehensive insight on the Temporary Power Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
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