Temporary power generally refers to the independent generation of electricity to support commercial and industrial sectors. This power enables these key sectors of the economy to continue running uninterruptedly during uncertain times like power disruptions, blackouts, or outages caused by natural occurrences or high demand/supply rates. The construction sector also utilizes temporary power in areas where there is no utility to continue building works. A global market report sheds light on important insights, opportunity analysis, and market forecasts for temporary power between 2015 and 2021.
The study was carried out in collaboration with major global manufacturers of temporary power like Aggreko, Caterpillar, Cummins, Kohler, and others to analyze market share, growth, identifiable trends, and forecasts. The major highlights of the research include:
The report is further segmented according to the following criteria.
The report indicates an exponential growth of global temporary power sources by Compound Annual Growth Rate (CAGR) of at least 10% between 2015 to 2021. This growth is majorly attributed to power demands and failure to predict the same accurately. Additionally, insufficient coverage of utility power in emerging economies and the rise of infrastructure and construction activities are driving the global temporary power market to grow exponentially. An increase in events across the globe is also increasing the demand for temporary power systems.
Segmentation according to the region shows that North America (USA, Canada, and Mexico) is expected to extend its dominance over the global temporary power market. The leading cause is aging utility power transmission and distribution lines, which have led to an increase in power outages in the region. The construction industry in the area is also booming, leading to significant market growth due to increased demand.
The efforts by utility companies and local governments to provide reliable basic amenities to the public in America, such as water & sanitation, electricity, and communication, are driving the market into an upward trend. Utility companies use temporary power sources to factor out the unreliability of permanent electric power sources and help recovery operations during emergencies like hurricanes, wildfires, or floods.
Growth in renewable power sources is also driving higher demand for generators. These plants install diesel and gas generators to ensure consistent power amid ever-changing weather conditions.
If the report were to be summarized into one sentence, it would read like this — reliance on generators to provide temporary power will continue to grow exponentially due to unreliable utility power and an expanding economy. Major sectors and industries in the US, Canada, and Mexico can avoid costs related to power outages by purchasing or installing portable or standby generators that typically generate electricity on demand.
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