PUBLISHER: The Business Research Company | PRODUCT CODE: 1392936
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392936
“Temporary Power Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on temporary power market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for temporary power? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The temporary power market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Temporary power refers to a service designed to supply electricity during construction or restoration operations. The primary goal of temporary electricity is to ensure the continuous operation of a site, even in the absence of utility power. It finds applications in plants and buildings for tasks such as illuminating construction sites, operating job-site trailers, powering irrigation facilities, and controlling various devices.
The principal categories of perforating guns include expendable, semi-expendable, and retrievable types. Expendable guns are commonly employed in situations where wellbore restrictions allow only limited access, such as through-tubing applications. Upon firing, a perforating gun assembly disintegrates, thereby reducing the volume and dimensions of the retrieved components. Various carrier types, such as hollow carriers, expandable shaped charged guns, and others, utilize explosive substances like cyclotrimethylene trinitramine (RDX), cyclotetramethylene trinitramine (HMX), and hexanitrosilbene (HNS), with both high and low pressure applications, whether onshore or offshore.
The temporary power market research report is one of a series of new reports from The Business Research Company that provides temporary power market statistics, including temporary power industry global market size, regional shares, competitors with a temporary power market share, detailed temporary power market segments, market trends and opportunities, and any further data you may need to thrive in the temporary power industry. This temporary power market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 rise during the historical period can be ascribed to the escalation of construction activities, swift industrialization, occurrences of natural disasters, developments in the events and entertainment industry, and advancements in 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 expansion anticipated in the forecast period can be linked to the integration of renewable energy, the development of remote and off-grid areas, initiatives for smart cities, and enhanced emergency preparedness. Key trends expected during this period encompass digitization and smart technologies, a rising demand for sustainable solutions, a focus on grid resilience, the adoption of modular power systems, as well as market consolidation and the formation of strategic partnerships.
The growth of the temporary power market is expected to be driven by the increasing construction activity. The construction industry, encompassing infrastructure development, repair, renovation, and maintenance, has experienced a surge due to rapid industrialization and urbanization. To meet the utility needs for construction or building activities, a temporary power supply becomes crucial, providing services such as electricity and water. For example, reports from Oxford Economics in September 2021 indicated that global construction output reached $10. 7 trillion in 2020, and it is anticipated to grow by 42%, or $4. 5 trillion, to reach $15. 2 trillion between 2020 and 2030. Additionally, the 2022 U. S. Construction Cost Trends report highlighted a 16% increase in total construction spending in the U. S. since the onset of the pandemic, further emphasizing the role of increasing construction activity in driving the temporary power market.
The growth of the temporary power market is expected to be fueled by an increasing dependence on renewable energy sources. Renewable energy, derived from naturally replenishable resources, benefits from temporary power solutions to support the continuous operation of wind turbines and provide backup power when renewable sources are unavailable. In 2021, the International Energy Agency reported that renewable electricity generation is poised to expand by over 8%, reaching 8,300 TWh (Terawatt-hour). This highlights the significant role temporary power plays in supporting the growth of renewable energy sources.
Technological advancements are a key trend gaining traction in the temporary power market, with major companies focusing on providing advanced solutions. An example is EcoFlow, a U. S. -based developer and manufacturer of eco-friendly portable power stations, launching the DELTA mini-Portable Power Station in September 2021. The DELTA mini, with a robust 1400W rated output, is capable of charging up to 12 devices simultaneously through USB, DC, and AC outlets, showcasing technological innovation in portable power solutions.
Major companies operating in the temporary power market are emphasizing the introduction of advanced solutions, including solar-first battery generators. These generators provide a portable and sustainable power source in challenging operating conditions where a stationary power source is unavailable. New Use Energy Solutions (NUE), a U. S. -based energy solutions provider, launched the SunCase line of portable solar-first battery generators in April 2023, designed for dependable power supply through solar panels, grid electricity, or portable gas generators in various applications.
In November 2021, Trystar, a U. S. -based designer and manufacturer of power distribution equipment, acquired Troy, a temporary power company. This strategic acquisition allows Trystar to expand its range of portable and permanent power distribution products, enhancing its offerings with high-efficiency transformers, power conditioning, power inverters, and battery backup equipment. Troy, specializing in portable power solutions for events such as outdoor concerts and sporting events, adds valuable capabilities to Trystar's portfolio.
Major companies operating in the 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., Wartsila Oyj Abp, Wacker Neuson SE, Ring Power Corporation
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
The countries covered in the temporary power market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The temporary power market includes revenues earned by entities by using temporary power for irrigation systems, building illumination, site trailers services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.