DUBAI, UAE, Jan. 11, 2024 /PRNewswire/ — According to the recent report published by Kings Research, the global Mobile Power Plant Market registered USD 1.27 billion in revenue in 2022 and is estimated to attain a valuation of USD 2.37 billion by 2030, recording a CAGR of 4.80% from 2023 to 2030. The market growth is attributed to factors such as the surging global demand for electricity. Significant investments in infrastructure development and the swift pace of industrialization are amplifying the necessity for power generation, thereby fueling the demand for mobile power plants.
The increasing short-term demand for air conditioning systems is resulting in heightened peak loads in urban areas, further accelerating the requirement for mobile power plants to cater to the additional power needs. The global surge in electricity demand can be attributed to population growth and the rising use of energy-intensive applications such as air conditioning. This population growth has, in turn, led to increased research and construction activities in urban areas, fostering a greater demand for mobile power plants.
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A mobile power plant is a compact and easily transportable power generation system designed for flexible deployment in various settings. It offers an autonomous power source, making it ideal for remote areas or emergency scenarios. The mobile power plant market encompasses diverse technologies and fuel sources, including gas turbines, solar panels, wind turbines, biomass generators, and even small modular reactors. Ongoing technological advancements, such as modular systems and the integration of energy storage, have enhanced the capacity and efficiency of mobile power plants.
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Competitive Landscape
Key players in the mobile power plant industry are actively pursuing strategic approaches like partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolios and bolster their market presence in various regions. For instance, in March 2020, Atlas finalized the acquisition of APR Energy, a mobile power solutions provider, for a sum of USD 750 million, as part of its strategy to diversify its product portfolio.
Market players profiled in the mobile power plant market include:
Aggreko
Atlas Copco
Duracell Inc
EthosEnergy
General Electric
Kawasaki Heavy Industries Ltd.
Korindo Energy
Siemens
MAPNAGROUP
VERICOR
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Higher Investments in Distant Region Electrification to Promote Mobile Power Plant Market Progress
Based on fuel type, the mobile power plant industry is segmented into natural gas/LPG, diesel, and others.
The natural gas/LPG segment dominated the global mobile power plant market in 2022, primarily due to higher investments in distant region electrification. Natural gas/LPG is a cost-effective, efficient, and environmentally friendly alternative to other fuels. These advantages are anticipated to fuel the growth of natural gas-based mobile power plants through the projected timeframe.
Mounting Demand in the Off-Grid Sector to Spur Product Uptake for Remote Area Electrification Application
Based on application, the market is segmented into emergency power for natural disasters, oil & gas rigs, and remote area electrification.
The remote area electrification segment is dominating the mobile power plant market. This is primarily due to the increasing demand in off-grid sectors to support the power needs of modern electronic devices like computers, smartphones, tablets, and other gadgets. The growth of this segment is further fueled by the rising popularity of outdoor recreational activities, such as camping, where the use of smart electronic gadgets is prevalent.
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Surging Electricity Demand in Disaster Prone Countries to Drive Mobile Power Plant Market Growth
The surge in electricity demand due to industrialization and modernization, especially in disaster-prone countries like Japan, China, the United States, and India, is a significant driving factor for the mobile power plant market. These solutions utilize low-fuel consumption medium-speed engines for quick installation and offer up to 20% more fuel efficiency than traditional high-speed engines, making them a preferred choice for urgent energy needs.
Market growth is further propelled by the adoption of smart grid services, aging power grid infrastructure, and increased power consumption in remote areas. Additionally, the global focus on reducing carbon dioxide emissions and greenhouse gases is driving substantial investments in renewable energy generation. The portability of these plants, which allows them to be moved to remote locations easily, is enticing more customers to invest in personal portable power plants. These factors are foreseen to support market growth over the forecast period.
Increased Demand for Temporary Power Solutions in North America to Fuel Mobile Power Plant Market Expansion
North America is a dominant region in the mobile power plant market due to increased demand for temporary power solutions linked to construction projects, outdoor events, and natural disasters. As the market is shifting towards cleaner energy sources in response to sustainability concerns and a reduced carbon footprint, mobile power plants are also incorporating renewable energy technologies like solar panels and wind turbines.
Energy storage technologies, such as batteries, play a pivotal role in the market by enabling efficient energy management and seamless integration of renewables. The growth is also fueled by the integration of smart grid technologies, which enhance monitoring, control, and optimization of power generation and distribution, particularly in applications like mining, oil and gas exploration, construction at remote sites, and military operations.
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Key Points from TOC:
Chapter 1 Introduction of the Global Mobile Power Plant Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Mobile Power Plant Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Mobile Power Plant Market, By Fuel Type
Chapter 7 Global Mobile Power Plant Market, By Power Rating
Chapter 8 Global Mobile Power Plant Market, By Application
Chapter 9 Global Mobile Power Plant Market, By Geography
Chapter 10 North America
Chapter 11 Europe
Chapter 12 Asia Pacific
Chapter 13 Middle East & Africa
Chapter 14 Latin America
Chapter 15 Global Mobile Power Plant Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
Chapter 16 Company Profiles
16.1 Aggreko
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Type Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 Atlas Copco
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Type Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 Duracell Inc
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Type Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 EthosEnergy
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Type Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 General Electric
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Type Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
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