Market Size of Temporary Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Temporary Power Market Analysis
The temporary power market is expected to record a CAGR of more than 4.5% during the forecast period 2022-2027. The outbreak of COVID-19 in Q1 2020 negatively impacted the global temporary power market. The partial or complete lockdowns in various countries indirectly or directly affected several industries and caused disruptions in vendor operations, project completions, supply chains, and product commercialization, among other activities. For instance, Doosan Bobcat North America suffered from a temporary suspension of production at its manufacturing facilities in response to the impact of the COVID-19 pandemic. The key drivers of the temporary power market include aging power infrastructure, rising construction activities, and increasing demand for reliable and continuous power. Due to the growing demand for efficient, faster, and unique electricity needs, temporary power sources are likely to be sought after over the short-term period. However, the expansion of existing grid infrastructure and the increasing availability of power in larger cities of developed and emerging economies is likely to hinder the temporary power market.
The utility segment is expected to witness significant growth in the market during the forecast period due to the increasing reliance of temporary power source manufacturers on demand from the utility sector.
Growing reliance on renewable energy sources against rising fuel prices, stringent emission standards, and increasing global energy demand is expected to benefit 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 witness the fastest growth in the temporary power market during the forecast period.
