The Global Mobile Power Plant Market accounted for US$ 1,619.2 Mn in 2018 and is expected to grow at a CAGR of 11.0% during the forecast period 2019 - 2027 to account to US$ 4,052.3 Mn by 2027.
The global mobile power plant is anticipated to exhibit decent growth in the near future. Some of the major driving factors to drive the market growth during the forecast period include increasing demand for electricity in developing regions and successful and innovative mobile power projects worldwide. However, uncertainty in fuel prices and emission regulations in some countries is anticipated to hinder the market growth in the coming years. During the forecast period, increasing demand for natural gas as a clean energy source is expected to be the future trend for the mobile power plant market. Increasing government initiatives and policy efforts for remote area and rural area electrification in various countries are expected to provide ample opportunities for the players operating in the mobile power plant landscape.
With increasing industrialization and economic growth in developing regions such as Asia-Pacific, Africa, and South America, the demand for electricity is growing at an impressive pace. According to the International Energy Agency (IEA) statistics, in 2016, the world electricity consumption was 20, 863 TWh (3.2% higher than in 2015). In 2016, the total electricity consumption among the Organizations of Economic Co-operation and Development (OECD) countries was 9, 512 TWh (1.4% higher than 2015) and in non-OECD countries was 11, 351 TWh (4.8% higher than 2015). China, India, Russia, and Brazil are the four major electricity consumers among the non-OECD countries, and they capture more than 35% of global electricity consumption share. Among these countries, China and India are the fastest two developing countries, and the industrial sector mainly dominates electricity demand in these countries.
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The need for modular and temporary power infrastructure is increasing in remote areas such as coastal areas, hilly areas, and islands. Mobile power plants come as a pre-packaged solution which can be transported anywhere by land, air, or sea, hence it is an ideal solution for remote area electrification. These mobile power plants are highly customizable, so it can be configured based on specific requirements related to loading, frequency, voltage, emission requirements, and available fuel. Some of the major applications of the mobile power plant in rural and remote areas include emergency power, power for remote oil rigs & mining operations, distributed generation or micro-grids, electricity for military operations, construction sites, and emergency power for natural disasters among many others. Governments in various developing countries like India and China are taking numerous initiatives for rural and remote area electrification.
The power sector is one of the most promising areas, especially in developing and underdeveloped regions. It is attracting more investments than oil and gas sectors, majorly due to power infrastructure development, up gradation of aging infrastructure, changing energy requirements, clean energy initiatives, and urbanization.
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The report segments the global mobile power plant market as follows:
GLOBAL MOBILE POWER PLANT SYSTEMS MARKET – BY FUEL TYPE
· Natural Gas
· Diesel
· Others
GLOBAL MOBILE POWER PLANT MARKET – BY APPLICATION
· Emergency Power
· Remote Area Electrification
GLOBAL MOBILE POWER PLANT MARKET – BY GEOGRAPHY
· North America
o U.S.
o Canada
o Mexico
· Europe
o France
o Germany
o Italy
o UK
o Russia
o Rest of Europe
· Asia Pacific (APAC)
o China
o India
o Japan
o Indonesia
o Rest of Asia Pacific
· Middle East and Africa
o South Africa
o Saudi Arabia
o UAE
o Rest of Middle East and Africa
· South America
o Brazil
o Rest of South America
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