Temporary Power Market

Temporary Power Market Segmentation by Fuel Type (Diesel, Gas, and Others); by Power Rating (Less than 80 kW, 81 kW–280 kW, 281 kW–600 kW, and Above 600 kW); and by End User (Utilities, Commercial, Industrial, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3635 | Published On: Apr 18, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • May 2021- Kohler Power launched new clean energy line with the launch of KOHLER Power Reserve energy storage systems, which is another milestone in the company’s initiative to support sustainability innovations within the housing industry.

  • March 2021- Aggreko agreed to be taken over by private equity players I Squared Capital and TDR Equity Capital in a cash deal worth USD 2.68 billion.


Global Temporary Power Market Highlights 2022 – 2030

The global temporary power market is estimated to garner a hefty amount of revenue and grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing construction and infrastructure activities, and rising number of planned events, triggering a spiraling demand for efficient and faster needs of electricity across the world. Along with these, growing reliance on renewable energy sources coupled with escalating fuel prices, and imposition of strict emission standards globally are expected to auger well for the growth of the market in the upcoming years. According to the International Energy Agency, the global price of crude oil stood at a value of 0.2 USD per liter in the second quarter of 2020, which increased up to 0.3 USD per liter in the third quarter of the same year. Furthermore, rise in installation of hybrid, mobile and portable types of temporary power systems is projected to offer lucrative opportunities for market growth in the near future. 

Temporary Power Market

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The market is segmented by end user into utilities, commercial, industrial, and others, out of which, the utilities segment is anticipated to hold the largest share in the global temporary power market. This can be accounted to the expanding population, along with rapid rate of urbanization and industrialization worldwide. Apart from these, aging power grid infrastructure in developed regions, and lack of electricity supply in developing nations are also predicted to contribute to the market segment’s growth in the future. Additionally, on the basis of power rating, the above 600 kw segment is assessed to acquire the most significant market share over the forecast period, which can be credited to the rise in demand for power generators with a range of 600 kw and above as these are used in a wide variety of applications ranging from utilities, oil and gas, to mining sectors. 


Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.


Global Temporary Power Market Regional Synopsis

On the basis of geographical analysis, the global temporary power market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the presence of poor grid infrastructure and low rate of electrification in the region. In addition, increasing number of planned events, especially in China, is also expected to propel the region’s market growth in the forthcoming years. Moreover, the market in North America is anticipated to grab the largest share during the forecast period ascribing to the intensifying power demand, growing adoption of temporary power in the United States and Canada, and strong presence of prominent market players in the region. As per the United States Energy Information Administration, in the U.S. total primary energy consumption was equal to almost 92.24 quadrillion Btu, in which the largest share of energy was generated by petroleum, accounting for about 35 percent of the total energy.

Temporary Power Market

 

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The global temporary power market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook


Temporary Power Market
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Market Segmentation

Our in-depth analysis of the global temporary power market includes the following segments:

By Fuel Type

  • Diesel
  • Gas
  • Others

By Power Rating

  • Less than 80 kW
  • 81 kW–280 kW
  • 281 kW–600 kW
  • Above 600 kW

By End User

  • Utilities
  • Commercial
  • Industrial
  • Others


Growth Drivers
  • Increasing Construction and Infrastructure Activities Globally
  • Rising Number of Planned Events

Challenges

  • Expansion of Existing Grid Infrastructure


Electricity Consumption
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Top Featured Companies Dominating the Market

    • Cummins Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Aggreko plc
    • APR Energy Ltd
    • Caterpillar Inc.
    • Kohler Co.
    • Larson Electronics LLC
    • Ashtead Group PLC.
    • Speedy Hire PLC.
    • United Rentals Inc.
    • Hertz Equipment Rental Corporation

Key Questions Answered in the Report

1) What are the major factors driving the growth of the temporary power market?

Ans: The major factors driving market growth are increasing construction and infrastructure activities globally and rising number of planned events.

2) What would be the CAGR of temporary power market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the temporary power market growth?

Ans: Expansion of existing grid infrastructure is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of temporary power market in future?

Ans: Asia Pacific will provide more business opportunities for market growth owing to the presence of poor grid infrastructure and low rate of electrification in the region.

5) Who are the major players dominating the temporary power market?

Ans: The major players in the market are Cummins Inc., Aggreko plc, APR Energy Ltd, Caterpillar Inc., Kohler Co., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the temporary power market?

Ans: The market is segmented by fuel type, power rating, end user, and by region.

8) Which segment captures the largest market size in the end user segment in the temporary power market?

Ans: The utilities segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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