Mobile Power Plant Market Worth 1.73 Billion USD by 2022. The remote area electrification segment is estimated to grow at the highest CAGR in the mobile power plant market during the forecast period. The increase in the global remote area electrification has accentuated the need for the development of onsite power generation systems. Natural gas/LPG is estimated to hold the largest share of the mobile power plant market in 2018 and is expected to grow at a decent pace during the forecast period.
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The mobile power plant market is projected to grow at a CAGR of 4.56% from 2017 to 2022.”
The mobile power plant market is projected to reach USD 1.73 billion by 2022, growing at a CAGR of 4.56% from 2017 to 2022.The growth of the mobile power plant market can be attributed to an increase in remote area electrification, frequent natural disasters across the globe, and increase in onshore oil & gas rigs. Concerns regarding emission regulations imposed by various agencies are the major challenges faced by the players in this market.
“The remote area electrification segment is expected to grow at the highest CAGR from 2017 to 2022.”
The remote area electrification segment is estimated to grow at the highest CAGR in the mobile power plant market during the forecast period. The increase in the global remote area electrification has accentuated the need for the development of onsite power generation systems.
A centralized power generation system requires a huge capital investment, which is not feasible in rural and coastal regions of the world. Hence, the demand for onsite fast power generation solutions such as mobile power plant has increased for remote area electrification.
“Natural Gas/LPG: The largest market for mobile power plant, by fuel type”
Natural gas/LPG is estimated to hold the largest share of the mobile power plant market in 2018 and is expected to grow at a decent pace during the forecast period. Natural gas is considered as a cheap and clean fuel, which is one of the major driving factors for the growth of the natural gas mobile power plant market.
The IEA predicts that natural gas will gain a stronger foothold in South and East Asia in countries such as China and India.
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Asia Pacific: The fastest growing market for mobile power plant
Asia Pacific is estimated to be the fastest-growing market for mobile power plant during the forecast period. The market growth in the region can be attributed to the recent developments in remote area electrification in Indonesia, India, and Australia.
The increase in the number of natural disaster sis also likely to boost the demand for a mobile power plant in the region during the forecast period. The increasing number of onshore oil and gas rigs would further raise the demand for the mobile power plant market in the near future.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as assess future market prospects.
The distribution of primary interviews is as follows:
- By Company Type:Tier 1- 20%, Tier 2- 55%, Tier 3- 25%
- By Designation:C-Level- 35%, D-Level- 30%, Others- 35%
- By Region:North America- 15%, Europe- 20%, Asia Pacific- 30%, South America- 25%, and Middle East and Africa- 10%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 1 billion, Tier 2 = From USD 100 million to USD 500 million, and Tier 3 = < USD 100 million.
The key players in the mobile power plant market include GE (US), Siemens (Germany), APR Energy (US), Kawasaki (Japan), PW Power systems (US), and Metka (Greece).
The report provides a picture of the mobile power plant market and its segments across industries and regions. It aims at estimating the market size and future market growth potential across different segments, by fuel type, power rating, application, and region.
Furthermore, the report includes an in-depth competitive analysis of key players in the market along with their company profiles, recent developments, and key market strategies.