With the emergence and long-term Impact of COVID-19, the Global Temporary Power Market is to reach USD XX Billion by 2027
Bizwit Research & Consulting LLP’s Recent Analysis on Global Temporary Power Market is poised to raise up to USD XX Billion by 2027. A temporary power supply is a connection on site to provide power supply for construction work or building. It can be used for short-duration power supply such as for events, mining, manufacturing, shipping, etc. Rising power demand will enhance the market growth of the temporary power market. For Instance: according to International Energy Agency, in 2021, power demand is expected to grow by 5% and 4% in 2022. It also states that electricity demand is expected to increase majorly from Asia Pacific, especially from China and India. The lack of power infrastructure pushes the growth of the global temporary power market. However, the expansion of grid infrastructure along with the increasing availability of power in emerging economies impedes the growth of the market over the forecast period of 2021-2027. Also, decreasing the cost of power generation is likely to increase the market growth during the forecast period.
Geographically, the global Temporary Power Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America is a significant region across the world in terms of market share owing to an increase in power demand, capacity expansion plans, and adoption by power companies. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as low rate of electrification, and poor power infrastructure, increasing demand for diesel generators would create lucrative growth prospects for the Temporary Power market across the Asia-Pacific region.
The global Temporary Power Market is highly competitive owing to the presence of several key manufacturers such as Aggreko PLC., APR Energy PLC., Ashtead Group PLC., Caterpillar, Inc., Cummins, Inc., Atlas Copco CB., and others.
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Global Temporary Power Market Size study by Power Rating (Less than 80 kW, 81-280kW, 281-600 kW), End Use (Events, Utilities, Oil & Gas, Construction, Mining, Manufacturing, & Shipping), Fuel Type (Diesel, Gas, & Others (Dual Fuel & HFO)) and Regional Forecasts 2021-2027
Key findings of the study suggest:
- Global Temporary Power Market is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2021-2027.
- In the End-User segment, utilities emerged as the leading market segment in 2020.
- North America is anticipated to drive regional growth owing to growing capacity expansion plans and adoption by power companies.
- Asia-Pacific is expected to grow at a high CAGR followed by North America during 2021-2027.
Bizwit Research & Consulting has considered the following segments for the study:
By Power Rating:
- Less than 80 kW
- 81 kW–280 kW
- 281 kW–600 kW
- Above 600 kW
By Fuel Type:
- Others (Dual Fuel & HFO Generators, and Mobile Gas Turbine)
- Oil & Gas
- Others (Shipping and Contracting)
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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