Temporary Power Market worth 6.40 Billion USD by 2021
he global temporary power market is projected to reach USD 6.40 Billion by 2021, growing at a CAGR of 10.6% from 2016 to 2021. This growth can be attributed to the lack of electricity supply, rise in construction and infrastructural activities, and increase in number of planned events, triggering an increasing demand for energy. 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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