Global $2.25+ Billion Mobile Power Plant Markets to 2026
DUBLIN, Oct. 23, 2020 /PRNewswire/ -- The "Mobile Power Plant Market - By Fuel Type, By Application, and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global Mobile Power Plant market was valued at USD 1.62 Billion in 2019 and is expected to reach over USD 2.37 Billion by 2026, growing at a CAGR of around 9% during the forecast period from 2020 to 2026.
The demand for Electrical SCADA Market is increasing significantly due to increase and growth in the remote area electrification division which have augmented the need and requirement for the development and expansion of onsite power generation unit. A centralized power generation unit requires a huge capital investment, which is not viable in coastal and rural regions of the world.
Global Mobile Power Plant Market: Overview
The handy and convenient 25-MW mobile turbine, having a space-conscious design, can be functional and can operate on various fuel sources called as diesel and natural gas. It can be transported and elated anywhere by air, land, or sea for quick deployment. Once it is set up, the gas turbine will start acquiring power within 20 to 25 minutes. Commissioning of these mobile power units is considered very practical solution as it helps to meet the peak-hour requirement and at the same time it also helps cut down power costs for many companies.
Global Mobile Power Plant Market: Growth Factors
The growth and expansion of the global mobile power plant market can be attributed to the rise in regular natural disasters across the world, remote area electrification, and augment in the onshore gas & oil rigs. Issues related to emission regulations obligatory by different agencies are the main challenges faced by the major key players in this market. The remote area electrification division is projected to develop at the highest rate in the global mobile power plant market in the coming years.
The increase and growth in the remote area electrification division have augmented the need and requirement for the development and expansion of onsite power generation unit. A centralized power generation unit requires a huge capital investment, which is not viable in coastal and rural regions of the world. Therefore, the demand and requirement for onsite power generation solutions, for instance, the mobile power plant has augmented for secluded area electrification.
Global Mobile Power Plant Market: Segmentation
In terms of fuel type, the natural gas or LPG division is projected to hold the highest market share of the global mobile power plant market. The highest market share of this division can be accredited to the increasing investments in remote region electrification, particularly in the sub-Saharan Africa area. The other fuel types included in the market are diesel, HFO, and biofuels.
In terms of power rating, the global market is fragmented into 1-10 MW, 11-20 MW, and 21-50 MW division which is projected to be the highest division of the global mobile power plant market. 21-50 MW mobile power plants are majorly utilized for big projects, for instance, emergency power requirement and electrification of the village or coastal areas. In terms of application, the market is categorized into emergency power for natural disaster, oil & gas rigs, remote area electrification, and many more.
Global Mobile Power Plant Market: Regional Analysis
The Asia Pacific is projected to be the highest growing region for the global mobile power plant market in the coming future. The market growth and development in the region can be accredited to the current developments particularly in nations such as India, Indonesia, and Australia.
Countries such as Angola, Indonesia, India, and Nigeria are showing fast development in the 21-50 MW division owing to the recent augment in demand and popularity for electricity in the remote region. The increase in natural disasters is also predicted to fuel the demand and requirement for a mobile power plant in other regions in the coming years. The growing number of onshore oil and gas rigs can further increase the popularity of the global mobile power plant market in the years to come.
Global Mobile Power Plant Market: Competitive Players
Some of the most important market players in the global mobile power plant market are
- Siemens
- GE
- Kawasaki
- APR Energy
- Metka
- PW Power systems
Global Mobile Power Plant Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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- Assessment of niche industry developments
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- Emerging segments and regional markets
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