Enjoy complimentary customisation on priority with our Enterprise License!
The mobile power plant market size is forecast to increase by USD 396 million at a CAGR of 4.36% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for reliable power sources, particularly in exploration activities and industrial use. One of the key trends driving market growth is the global focus on grid modernization and expanding electricity networks to accelerate energy production and distribution. Mobile power plants, including gas turbines and inverters, offer limited energy capacity and mobility, making them ideal for use in remote locations and during emergency situations. The development of floating offshore wind is another trend contributing to market growth, as mobile power plants can provide the necessary power for offshore wind farms. Investment in electricity network infrastructure is also increasing, creating opportunities for mobile power plant providers.
Mobile power plants have gained significant traction in various industries due to their flexibility and ability to provide electricity on-demand. These power plants come in various forms, including transport vehicles, trucks, tracked vehicles, trailers, self-propelled chassis, and railroad flatcars. The diesel and gas turbines installed in these mobile power plants provide the necessary power, while electric generators convert mechanical energy into electrical energy. The sales channel for mobile power plants includes oil mining, construction work, renewable energy integration, telecom, and electric power generation. Mobile power plants have limited energy capacity, making them ideal for applications where electricity is required in remote locations or during power outages. The integration of renewable energy sources, such as solar power grids, into mobile power plants has opened up new opportunities for the market. Big vehicles, such as transport vehicles and trucks, are commonly used as mobile power plants in the oil mining industry. These vehicles can travel to different drilling sites and provide power to the drilling equipment.
Additionally, the mobile power plant market is witnessing significant growth with the increasing demand for portable and flexible energy solutions. These plants, often built on transport vehicle such as truck, tracked vehicle, or railroad flatcar, provide a reliable power source in remote locations or during emergencies. Thermal electric type power plants are commonly used in mobile configurations, offering efficient electricity generation. These mobile plants are equipped with electric generator, allowing them to meet diverse power needs in industries, construction sites, or disaster relief operations. Their ability to operate in areas with limited infrastructure makes them invaluable for off-grid power supply. The market is poised for further expansion as the need for flexible, on-demand power generation continues to rise globally.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The natural gas segment is estimated to witness significant growth during the forecast period. In the face of increasing natural disasters and natural hazards, the demand for reliable and portable power sources has become essential. Mobile power plants, particularly those fueled by natural gas or LNG, offer a viable solution for businesses and communities in need of uninterrupted power supply. According to the US Energy Information Administration (EIA), natural gas is an efficient and cost-effective fuel for power generation, with a capacity utilization percentage of 60.2% in 2018, surpassing other fossil fuels.
Further, the population's increasing reliance on electricity, coupled with the growing need for power in oil drilling and mining operations, presents a significant opportunity for the market. As the US continues to explore oil and gas resources, the demand for portable power solutions that can operate in remote locations and withstand harsh conditions will continue to rise.
Get a glance at the market share of various segments Request Free Sample
The natural gas segment accounted for USD 698.90 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The market in North America is significant and is anticipated to preserve its market position throughout the forecast period. The necessity to upgrade outdated infrastructure, modernize grids, and adhere to escalating renewable energy generation standards are primary catalysts fueling the expansion of mobile power plants in this region. The United States Environmental Protection Agency (EPA) has issued new regulations mandating power plants older than 25 years with a capacity exceeding 50 MW to undergo upgrades. Furthermore, the US is projected to replace a substantial portion of its coal-fired power plants with natural gas-powered alternatives by 2035. This transition will create lucrative opportunities for mobile power plant providers in the region.
Telecom companies and tracked vehicles, trailers, and transport trucks are increasingly adopting mobile power plants to ensure uninterrupted power supply for their operations. These entities are investing in advanced mobile power plant technology to cater to the growing demand for reliable and sustainable power solutions.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for emergency power during natural disasters is the key driver of the market. The unpredictability of natural disasters and extreme weather events, as evidenced by the occurrence of hurricanes Michael and Florence in the US, super typhoons Yutu and Mangkhut in the Pacific region, a tsunami in Indonesia, and floods in Japan, Nigeria, and India during 2018 and 2019, has highlighted the vulnerability of centralized grid architecture. These events resulted in power outages, underscoring the need for backup power solutions. Mobile power generation systems have emerged as essential alternatives, providing emergency power to critical facilities such as hospitals and emergency shelters. Air conditioning and auxiliary equipment in big vehicles and buildings can be powered by these systems, ensuring continuity in construction activities and cable network operations. The control console of mobile power plants enables efficient management and distribution of power, making them indispensable in disaster-prone areas.
The development of floating offshore wind is the upcoming trend in the market. Over the past 15 years, offshore wind power generation has emerged as a significant competitive alternative energy source, contributing to the global fight against climate change. However, one challenge with offshore wind energy is the substantial capital investment required. The depth of the water and seabed conditions influence the size of the wind turbine and the type of foundation necessary for installation. Deeper waters offer greater potential for generating higher energy capacity wind. To address the high capital expenditure, floating wind energy technology has been introduced, utilizing suction anchors to secure the structure. Exploration activities in the energy sector continue to focus on industrial use of mobile power plants to meet the increasing demand for reliable power sources, particularly in areas with limited energy capacity.
Mobile power plants, including those powered by gas turbines and equipped with inverters, play a crucial role in providing power to off-grid locations and supporting grid stability during peak energy usage. These mobile power solutions offer flexibility and can be transported to various locations as needed. Global markets for mobile power plants have experienced significant growth, driven by the need for cleaner, more sustainable energy sources. In summary, the market is experiencing growth due to the increasing demand for clean, reliable energy sources, particularly in areas with limited energy capacity. Offshore wind energy, which requires substantial capital investment, is one area where mobile power plants can provide a solution.
Increasing investment in electricity network for accelerating energy is a key challenge affecting the market growth. Approximately half of the world's population lacks access to electricity, primarily due to insufficient grid infrastructure. To electrify the entire global population, substantial investments from governments are necessary to expedite their electrification programs. In the interim, alternative power solutions such as microgrids, power barges, mini diesel grids, and other forms are being employed to address immediate power needs. However, urbanization and industrialization necessitate the establishment of long-term power networks. Billions of dollars are being allocated to develop power distribution networks, with the ultimate goal of increasing electrification worldwide. In disaster-stricken areas, emergency power is essential for restoring electricity during power outages.
Diesel electric generators are commonly used for emergency power generation due to their reliability and quick deployment capabilities. Electric power generation through diesel engines is a viable solution for disaster relief efforts, providing electricity for essential services and communication systems. The investment in electricity infrastructure, including diesel generators, is crucial for disaster management and ensuring the well-being of affected populations. The global population's lack of access to electricity necessitates significant investments in electrification programs. While alternative power solutions like microgrids and diesel generators offer temporary relief, long-term power network development is essential.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ATLAS Corp. - The company offers mobile power plants such as TM2500TM GEN8 Mobile Gas Turbine that produce up to 35 megawatts of power and are quick to dispatch, achieving full power in less than 10 minutes.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Mobile power plants are essential solutions for providing electricity in various applications, including construction work, remote areas, and emergency situations. These plants come in different forms, such as containerized, self-propelled, and trailer-mounted, catering to diverse power requirements. The global focus on electrification and the increasing need for electricity in industries, buildings, and billions of people have driven the demand for mobile power plants. The integration of renewable energy sources, like solar panels, into mobile power plants is a significant opportunity for the market. Mobile power plants are used in various sectors, including oil & gas exploration and mining, where limited energy capacity and remote locations necessitate the use of these plants.
In addition, they are employed in telecom, railroad flatcars, and auxiliary equipment for big vehicles like buses and trucks. Natural disasters and natural hazards also create a demand for mobile power plants for emergency power purposes. These plants can be self-contained, with diesel engines, gas turbines, or even solar panels, providing electricity in the absence of a grid. The market for mobile power plants is vast, with sales channels extending to various industries, including construction activities, telecom, and oil & gas. The technology behind these plants is continuously evolving, with advancements in inverters, control consoles, and spare parts ensuring their efficiency and reliability.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
168 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
|
Market Growth 2024-2028 |
USD 396 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.11 |
|
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 48% |
|
Key countries |
US, China, Germany, Japan, and India |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
American Electric Power Co., ATLAS Corp., Caterpillar Inc., Dynamis Power Solutions, EthosEnergy Group Ltd., FERROPLAN OY, General Electric Co., Kawasaki Heavy Industries Ltd., Korindo Energy, MAPNA Group Co., Meidensha Corp., Mitsubishi Heavy Industries Ltd., MTU Aero Engines AG, Mytilineos S.A., Porsche Automobil Holding SE, Siemens AG, and Turbine Technology Services Corp. |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Fuel Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
