Temporary Power Market Projected to reach $6.40 Billion with Highest CAGR of 10.6% from 2016 to 2021

The global temporary power market is estimated to reach USD 3.86 Billion in 2016, and is projected to grow at a CAGR of 10.6% from 2016 to 2021, to reach USD 6.40 Billion by 2021. Market growth is driven by factors such as the growing demand for power, aging grid infrastructure, and lack of access to electricity, and increasing construction and infrastructural activities across the globe.

The report segments the temporary power market on the basis of end-users into utilities, oil & gas, events, construction, mining, manufacturing, shipping, and others (military, telecom, and residential). The utilities segment recorded the largest market size in 2015. The growth can be attributed to aging power grid infrastructure in the developed economies, followed by lack of electricity supply in the developing economies of the Asia-Pacific and Africa. Poor grid infrastructure causes frequent blackouts giving rise to the need for rental power. The oil & gas industry held the second largest market share. Growing industrialization and rising demand for continuous power supply by these industries are expected to drive the temporary power market from 2016 to 2021.

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The temporary power market has also been classified on the basis of power rating into less than 80 kW, 81 kW–280 kW, 281 kW–600 kW and above 600 kW. The demand for above 600 kW power rated generators is expected to increase during the forecast period, as they are used in a wide range of applications in the oil & gas, utilities and mining sectors.
The temporary power market has also been classified on the basis of fuel type into diesel, gas, and other generators. The demand for diesel generators is expected to increase during the forecast period, as they are used in a wide range of applications, across various sectors.

North America held the largest market share followed by the Asia-Pacific, and South America. Growth in power demand and capacity expansion plans by temporary power companies are the key market drivers. The Asia Pacific and Africa is estimated to grow at a faster rate, owing to low rate of electrification, and poor grid infrastructure, which propel the demand for diesel generators. In 2015, China dominated the Asia-Pacific temporary power market, due to the increase in number of planned events.

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Some of the leading players in the temporary power market are Aggreko PLC (U.K.), APR Energy Inc. (U.S.), Ashtead Group Plc (U.K.), Caterpillar Inc.(U.S.), Power Electrics (U.K.), Speedy Hire (U.S.), United Rentals (U.S.), Cummins Inc.(U.S.), Hertz Corporation(U.S.), Kohler (U.S.), Smart Energy Solutions (UAE), and Rental Solutions and Services (UAE), among others.