Global Temporary Power Market Overview 2024: Size, Growth Rate, and Segments
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The temporary power global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Temporary Power Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The temporary power market size has grown rapidly in recent years. It will grow from $6.4 billion in 2023 to $7.25 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to increasing construction activities, rapid industrialization, natural disasters, events and entertainment industry, infrastructure development.
The temporary power market size is expected to see rapid growth in the next few years. It will grow to $11.85 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to renewable energy integration, remote and off-grid areas development, smart cities initiatives, emergency preparedness. Major trends in the forecast period include digitization and smart technologies, increasing demand for sustainable solutions, focus on grid resilience, adoption of modular power systems, market consolidation and strategic partnerships.
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Scope Of Temporary Power Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Temporary Power Market Overview
Market Drivers –
The increasing construction activity is expected to propel the growth of the temporary power market. The construction industry refers to an industrial branch of manufacturing and trade-related operations that includes infrastructure development, repair, renovation, and maintenance. Construction activities have been on the rise due to rapid industrialization and urbanization. A temporary power supply will assist the user in obtaining utilities such as electricity and/or water for construction or building activities. For instance, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42 %, or $4.5 trillion, to reach USD 15.2 trillion.. Furthermore, according to the 2022 U.S. Construction Cost Trends report, in the U.S., total construction spending has increased by 16% since the pandemic’s onset. Therefore, the increasing construction activity is driving the temporary power market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The temporary power market covered in this report is segmented –
1) By Fuel Type: Diesel, Gas, Other Fuel Types
2) By Power Rating: Less than 80 kW, 81 kW–280 kW, 281 kW–600 kW, Above 600 kW
3) By End User: Utilities, Oil And Gas, Mining, Construction, Manufacturing, Events and Hospitality, Other End Users
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Regional Insights –
North America was the largest region in the temporary power market in 2023. Asia-Pacific is expected to be the fastest-growing region in the temporary power market share during the forecast period. The regions covered in the temporary power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the temporary power market report are Aggreko plc, Caterpillar Inc., APR Energy Inc., Ashtead Group PLC, Smart Energy Solutions, Speedy plc, Cummins Inc., Hertz Corporation, Kohler Co., Bennett Engineering LLC, Altaaqa Global Energy Services, ATCO Ltd., Power Electrics Ltd., Larson Electronics LLC, SES Smart Energy Solutions FZCO, Enerwhere Holdings LLC, Bredenoord B. V., Byrne Equipment Rental LLC, Carrier Rental Systems Inc., Doosan Portable Power, Energyst BV, HIMOINSA S. L., Ingersoll-Rand Company, J. C. Bamford Excavators Limited, MTU Onsite Energy Corporation, Rental Solutions & Services LLC, Generac Holdings Inc., Wärtsilä Oyj Abp, Wacker Neuson SE, Ring Power Corporation
1. Executive Summary
2. Temporary Power Market Report Structure
3. Temporary Power Market Trends And Strategies
4. Temporary Power Market – Macro Economic Scenario
5. Temporary Power Market Size And Growth
…..
27. Temporary Power Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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