Temporary Power Market Analysis:
The Temporary Power Market Size is expected to reach USD 11,581.7 Million at a CAGR of 11% in the forecast period 2022-2030.
The temporary power market refers to the provision of power solutions on a short-term basis. It is characterized by the rental or leasing of power equipment, such as generators, to meet the power needs of businesses, events, and industries that require a temporary power source.
The temporary power market has been growing steadily over the years, driven by factors such as increasing demand for reliable power supply, the rise in construction and infrastructure development activities, and the need for power backup during emergencies.
Key Players:
Some of the leaders driving the global temporary power market includes,
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The Increasing construction and infrastructural activities along with the lack of electricity supply to back up those infrastructural expansions are expected to drive the market growth to an extent.
Also, the upcoming planned events worldwide, are expected to foster the market growth, fueling the demand for temporary power systems. The lack of permanent power supply facilities in some of the regions especially in the developing nations is providing impetus to the market growth, fulfilling the needs of the increasing population and urbanization. Simultaneously, the rapid automation of industrial activities is leading to the huge demand for reliable power backup, further adding to the growth of the temporary power market. Market trends indicate that industrial infrastructure is due for replacement if production levels and operational efficiency have to be maintained.
On the other hand, hazards associated with the distribution of electricity to these power outlets, in case of the fatalities linked to the improper design, installation, and use of temporary power at construction sites, are expected to obstruct the market growth.
companies active in supplying the temporary power have been designing and installing systems for the construction industry for almost three decades. From residential homes to commercial developments and civil engineering projects, these companies provide with the temporary power system needed and provide services like installation of power poles, hanging over, to name a few.
Global Temporary Power Market – Segmentation
The MRFR analysis is segmented into four key dynamics for the convenience of understanding;
Global Temporary Power Market – Regional Analysis
The North American region is expected to retain its dominance over the global temporary power market attributing to the aging power transmission and distribution systems, leading to frequent power outages. Also, the upsurge in the construction activities in the region is expected to drive the market growth.
The market in the Asia Pacific region is emerging as another lucrative market for temporary power due to the unavailability of proper access to the electricity mainly in the underdeveloped regions. Several countries in the APAC region still do not have 100% access to the electricity. These factors are estimated to augment the demand in the temporary power market during the forecast period.
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Industry/ Innovation/ Related News
August 28, 2018 – Larson Electronics LLC (US), a global leader of industrial lighting launched a portable power distribution substation that provides operators with the flexibility to utilize 480V AC three-phase power current to energies 208Y/120V AC three-phase equipment on a single system.
The new 100-amp 75KVA power distribution panel contains three 100-amp time delay fuses, and twelve 50-amp 2-pole 250V breakers on the secondary side, protecting twelve 50-amp 250V CS8269 receptacles. The unit is ideal for indoor and outdoor use in plant turnarounds, shipyards, and other temporary industrial applications.
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