Product Code: 71125
Temporary power is an independent source of electric power, which supports various sectors with the power supply in situations such as blackouts and power outage. The temporary power market is expected to grow at a CAGR of more than 6.7% during the forecast period 2020 - 2025. The key drivers of the temporary power market are aging power infrastructure, rising construction activities, and increasing demand for reliable and continuous power. Owing to the growing demand for efficient, faster, and unique needs of electricity, temporary power sources are likely to be sought after considerably in the near future in the temporary power market. However, the expansion of existing grid infrastructure along with the increasing availability of power in larger cities of developed and emerging economies is likely to hinder the temporary power market.
- The utilities segment is expected to witness significant growth in the market during the forecast period owing to the fact, the increasing reliance of temporary power sources manufacturers on demand from the utility sector.
- Growing reliance on renewable energy sources against the backdrop of rising fuel prices, stringent emission standards, and increasing global energy demand has augured well for the temporary power market. In addition, mobile, hybrid, and portable installations of temporary power systems are expected to create a potential opportunity for the temporary power market in the future.
- Asia-Pacific is expected to have fastest growth in the temporary power market during the forecast period.
Key Market Trends
Utilities Segment to Witness Significant Growth
- Utility sector companies maintain the infrastructure for public service. The utility sector refers to a category of companies that provide basic amenities, such as water, sewage services, electricity, telecommunication, etc. Utilities are the key end-user of the temporary power market as utilities use temporary power sources in order to meet the increasing electricity demand during the peak hours.
- The utility sector is expected to dominate in the temporary power market. As an expanding population across the globe coupled with rapid urbanization and industrialization presents an incremental demand for energy, the need for temporary power sources is likely to swell over the forecast period.
- As the utility sector continues to deal with the inadequacy of power capacity and broadening gap between supply and demand, the market for temporary power is being established in the sector. Leading suppliers of temporary power have specialized in power rental solutions and thus contribute to the largest market revenue share in the temporary power market.
- A combination of rising global energy demand and escalating fuel prices is responsible for the shift of energy preference towards renewable energy resources. The renewable energy plants are actively installing temporary power sources such as diesel and gas generators to offset the risk of intermittency caused by weather-related uncertainty and ensure long-term energy security. These developments are likely to spur sales of temporary power sources in the market.
Asia-Pacific is Expected to Witness Fastest Growth in the Market
- Asia-Pacific is expected to grow at the fastest rate in the global temporary power market. This is attributed to the low rate of electrification, scarcity of power, poor grid infrastructure, growing industrialization, and increasing capacity expansion propelling the demand for generators in the region.
- An increase in industrial and commercial loads increases the demand for electricity which is likely to increase the need for renewable clubbed with temporary power during peak demand, which in turn, expected to further fuel growth of the temporary power market in India and China especially.
- In addition, ongoing development activities in various sectors such as commercial, construction, oil & gas, utilities, and residential are estimated to propel growth of the temporary power market.
- Moreover, increasing number of renewable energy projects is expected to boost the demand for temporary power sources like generators at the construction site in case of any power outages from the grid and to provide power in remote locations.
- Cell towers, internet service providers (ISPs), data centers, television and radio broadcasting, and cable companies rely on power. Outages can mean thousands of dropped calls, lost data, signal interruptions and upset customers. This calls for the need for temporary power systems for continuous power source in the Asia-Pacific region.
The temporary power market is fragmented. Some of the major key players in the market include Aggreko plc, Cummins Inc., APR Energy Ltd, Kohler Co., and Caterpillar Inc.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD biliion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
- 4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
- 4.7 Porter's Five Force Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitute Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Fuel Type
- 5.1.1 Diesel
- 5.1.2 Gas
- 5.1.3 Others
- 5.2 End-User
- 5.2.1 Utilities
- 5.2.2 Commercial and Industrial
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Aggreko plc
- 6.3.2 Cummins Inc.
- 6.3.3 APR Energy Ltd
- 6.3.4 Kohler Co.
- 6.3.5 Caterpillar Inc.
- 6.3.6 Atlas Copco AB
- 6.3.7 ATCO LTD.
- 6.3.8 Rental Solutions & Services LLC
- 6.3.9 Temp-Power, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS