The Mobile Power Plant Market size is expected to reach a valuation of USD 2.25 billion by 2028 and is predicted to register a CAGR of 4.2% during the forecasted period 2023-2028.
Market Overview:
Mobile Power plants are thermal electric type power units, with all the required equipment mounted on the big vehicle. These are portable and temporary sources of electricity production placed on a truck, on one or more trailers, or on a railroad flatcar. The objective behind the mobile power plant construction is to supply quick electricity in case of the occurrence of natural hazards and in areas with fewer infrastructure facilities. Some applications include the supply of electricity in remote areas and at significant workplaces like the construction of roads and railway projects where there is no electricity.
The Mobile Power Plant Market ecosystem consists of fuel providers, hardware/equipment providers, solution and service providers, regulatory bodies, and end-users as major stakeholders. The services provided by these stakeholders are integrated into a unit for end-user as per their requirements.
Market Drivers:
Features like the use of medium-speed engines that consume less fuel and have quick installation and high fuel efficiency than normal high-speed engines are a perfect alternative to the urgent requirement for power that drives demand for mobile power generators. Increased industrialization and modernization in developing and developed countries increased the need for temporary power generation sources and drove the Mobile Power Plant Market. Increased need for mobile power plants in more natural hazard-prone countries like China, Japan, India, and the United States led to rising demand for the market.
During the forecast period, India and China are expected to have a significant growth rate in Mobile Power Market due to the possibility of remote and scattered power systems to supply electricity.
In developing and undeveloped countries, there is an increase in rural areas and rural electrification that is driving the demand for the Mobile Power Plant market. The socioeconomic development of these areas is hindered by the lack of power. So, World Bank Group Projects are working to explore the modern energy source to provide electricity to people who do not have access to electricity. Mobile power plants provide a solution to such areas in terms of their feasibility, portability, and affordable cost that works with various fuel sources and help in expanding the market.
Market Restraints:
Some expected key restraints at the global level will impact the development of the market.
Undulating fuel prices and gas emission regulations combined with the unavailability of fuels and inefficient supply chain is acting as challenging factors. The lack of proper connections with the grid integration is a restraint to the market. Difficulty in operating or relocating the mobile power plant in certain locations due to the land topology conditions and lack of proper transport or connectivity can constrain market expansion.
Market Opportunities:
The government’s inability to set up power plants and grids in remote areas is an opportunity for the Mobile Power plant market. The rise in population led to increased demand for construction and exploration activities in urban areas, which provided an opportunity for mobile power plant suppliers to grow the market. An increase in concern over rural electrification and the continuous need for mobile power plants in certain cases like natural hazards and in emergency needs will always be an ever-ending opportunity for the Mobile Power Plant Market to grow its market globally.
COVID-19 has a nominal effect on the power generation sector, but the lockdown and new rules and regulations affect the supply chain across the local and global markets. Manufacturing the equipment for mobile power plants has seen a breakdown in operations due to disrupted logistics across the globe because of the COVID-19 lockdown. The revenue from the sector has a downfall due to unbalanced supply and demand requirements. Because the change in government norms due to the COVID-19 pandemic has impacted the construction, oil, and gas mining, and temporary closure of ongoing projects due to labor shortages. Suppliers found difficulty in reaching the users because of logistics restraints Which eventually led to a decline in sales of mobile power plants and had a negative impact on the Mobile Power Plant Market. The market regained its normal state after the start of relaxation from pandemic norms by the government.
Market Key Developments:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
4.2% |
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Segments Covered |
By Fuel Type, Capacity, Application, and Region. |
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Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Kawasaki Heavy Industries Ltd, Solar Turbines, General Electric, Siemens, PW Power Systems, Vericor, APR Energy, Aggreko, Ethos Energy, Metka, and Others. |
Market Segmentation:
Natural gas is abundant, easy to transport, efficient, affordable, and has lower emissions causing less population. These associated advantages of natural gas, compared to others, lead to drifting over diesel and are expected to dominate the market during the projected period. It will account for 47% of the market in 2021.
The need for high power demand by mobile power plants with a capacity above 20MW is dominant in the segment. Such high capacity can be used in emergency power requirements and rural electrification. That will be expected to encourage the Above 20MW capacity to take over the high market share in Mobile Power Plant Market.
Emergency power backup is contributing a major share in this segment due to the higher usage of mobile power plants. They take less time to install and fulfill the short period emergency demands. Countries at risk of frequent natural catastrophes, like China, India, and Japan, are driving the demand for Emergency Power Backup in the Mobile Power Plant market.
Market Regional Analysis:
The Global Mobile Power Plant Market Report includes the segmentation of regions:
Middle East and African region in the Mobile Power Plant Market are anticipated to have a high market share in Mobile Power Plant Market. It has the availability of large oil and gas resources is a growth-driving factor in this region. The rise in exploration activities for power supply to remote areas, and the low rate of electrification in these regions, are the primary market growth attributes. The Asia-Pacific region is expected to be the next high-growth market for mobile power plants. It is home to some highly developing countries where high investment activities in Oil and gas industry and increasing demand for power with the rise in population in India and China can be noticed.
Market Key Players:
Frequently Asked Questions
The Mobile Power Plant Market size is expected to reach USD 2.25 billion by 2028.
The Middle East and African region are expected to have high market growth.
Kawasaki Heavy Industries Ltd, Solar Turbines, General Electric, Siemens, PW Power Systems, and Vericor are a few key players in the market.
Growing demand for portable and flexible power generation sources is the driving factor for the market.
Undulating fuel prices and difficulty in operation in some areas are restraints in the market.
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