Mobile Power Plant Market Size, Regional Outlook, Application Growth Potential, COVID-19 Impact Analysis, Competitive Market Growth & Forecast, 2021 – 2027
Report ID: GMI3489
Mobile Power Plant Market size volume is poised to grow over 2021-2027 with surging electrification and power needs. A soaring number of people residing in off-grid areas with minimal or no access to electricity will encourage leading companies to invest in the mobile power plant sector. The IEA predicted a surge in people without access to electricity in 2020.
Mobile power plants are sought to provide power in areas hit hard by outages and other emergencies. It has also gained popularity to supply power for logging operations, drilling rigs, heavy machinery used in railroad construction and mobile film projectors. Increasing demand for seamless power supply in off-grid areas will also fuel the industry growth. With technological advancements and high efficiency, the industry outlook will potentially remain strong.
In terms of fuel type, mobile power plant market value from the natural gas segment will hold a substantial share by 2027. Considering that natural gas is efficient, clean, and affordable with the lowest-carbon hydrocarbon, natural gas is expected to be sought for power plant installation. The natural gas-based power plant also provides a smaller footprint than coal and oil, boosting the sustainability credential of the fuel. Natural gas is poised to emerge as the leading fossil fuel generation power fuel in the next few years, partly attributed to low emissions and flexibility.
Based on power rating, the 21-50 MW segment is likely to expand at a healthy CAGR during the forecast period 2021-2027. Soaring demand for electricity in coastal and rural areas will trigger the demand for 21–50 MW power plants. The IEA predicts total electricity demand to surge by around 60% through 2040, exhibiting encouraging signs for mobile power plant companies. Notably, fast power projects above 25 MW mobile power plants have gained popularity to produce electricity in areas with peak load consumption and regions with power outages.
With respect to end-user, the industry share from the emergency power application segment will generate significant revenue in the next few years. The prevalence of emergency situations, outages and overhauls has solidified the market position of mobile power plant structures. Frequent natural disasters in the U.S., China, India and Japan have propelled the use of the plant for emergency power supplies.
In terms of region, the Middle East and Africa mobile power plant market outlook will be strong in the wake of the rise in the number of people without access to electricity. According to the IEA, Sub-Saharan Africa is home to 75% of the global population without access to electricity. Furthermore, the increasing deployment of off-grid systems in Kenya, Ethiopia, Nigeria and Tanzania has also added impetus to the global outlook.
Leading companies in the global mobile power plant market will potentially focus on organic and inorganic strategies, including mergers & acquisitions, product launches, collaboration, R&D and innovations. Some of the key vendors in the landscape are General Electric, Siemens, PW Power Systems, Mytilineos Sa, Kawasaki Heavy Industries, Portableelectric and APR Energy, among others.
To illustrate, in July 2020, the European Investment Bank (EIB) gave a green signal to Mytilineos for the 826 MW Agios Nikolaos power plant. The EIB is funding EUR 125 million to Mytilineos to boost energy security in Greece.
Mobile power plant market trends overcoming challenges of the coronavirus outbreak
The hardships of the COVID-19 pandemic will potentially become apparent in the global mobile power plant industry forecast. The oil & gas and construction industries had to postpone or shut their operations, hampering the growth prospects for power plants. Besides, leading companies were forced to seek waterways—floating power plants—in places where governments other stakeholders sought extra voltage to power hospitals.
Considering the unprecedented rise in electricity demand across the end-use application, the mobile power plant industry outlook will be robust during the assessment period 2021-2027.
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