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Technological Advancements Shape The Temporary Power Market Industry Trends Gaining Momentum in the Global Temporary Power Market
Temporary Power
Temporary Power Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Earlier years have witnessed a swift expansion in the size of the temporary power market. Anticipated to expand from $7.23 billion in 2024 to $8.17 billion in 2025, it's expected to register a Compound Annual Growth Rate (CAGR) of 13.0%. Factors such as a surge in construction activities, swift industrialization, natural calamities, events and the entertainment sector, and infrastructure development have contributed to the growth in the historical period.
Temporary Power Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the size of the temporary power market is projected to experience swift expansion, reaching a worth of $13.63 billion in 2029 with a compound annual growth rate (CAGR) of 13.7%. The anticipated growth during this period is due to factors such as the integration of renewable energy, the evolution of remote and off-grid areas, initiatives towards smart cities, and emergency readiness. Key trends for this forecast period comprise the rise of digitization and smart technologies, a growing requirement for sustainable strategies, a concentration on grid longevity, the implementation of modular power systems, as well as market unification and strategic alliances.
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What Are the Drivers Transforming the Temporary Power Market?
The surge in construction activities is anticipated to fuel the growth of the temporary power market. The construction sector is an industry segment encompassing manufacturing and commerce-related activities, which includes infrastructure expansion, repair, refurbishing, and upkeep. Due to swift industrialization and urbanization, construction undertakings have been escalating. A temporary power provision can aid the owner with utilities such as electricity and/or water for construction or building tasks. For instance, a forecast by Oxford Economics, a UK-based company that provides economic data, in March 2023 predicts that the worth of construction work will ascend from $9.7 trillion in 2022 to $13.9 trillion by 2037. This surge will be driven by the dominant construction markets in China, the U.S., and India. As a result, the rise in construction ventures is fuelling the temporary power market.
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What Long-Term Trends Will Define the Future of the Temporary Power Market?
The ripple effects of technological progress are being noticed as a rising trend in the temporary power industry. Commanding corporations in this sector are striving to offer technologically superior offerings to amplify their grip on the market. To illustrate, in September 2022, the United States-based Jackery Inc., known for its inventive portable power and green outdoor power solutions, unveiled their Solar Generator 1000 Pro. The 800W Jackery Solar Generator 1000 Pro comprises four SolarSaga 200W Solar Panels and the Jackery Explorer 1000 Pro Portable Power Station, capable of charging a maximum of 8 devices at the same time through AC, DC, and USB ports. Along with the capacity for rapid charging, this product can be fully charged in just 1.8 hours using an AC outlet.
Which Segments in the Temporary Power Market Offer the Most Profit Potential?
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
Subsegments:
1) By Diesel: Diesel Generators, Diesel Engine Rentals
2) By Gas: Natural Gas Generators, Biogas Generators
3) By Other Fuel Types: Biofuel Generators, Hydrogen Generators, Propane Generators
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Which Firms Dominate the Temporary Power Market by Market Share and Revenue in 2025?
Major companies operating in the temporary power market include 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
Which Regions Offer the Highest Growth Potential in the Temporary Power Market?
North America was the largest region in the temporary power market in 2024.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
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