The global mobile power plant market is expected to grow from an estimated USD 1.39 Billion in 2017 to USD 1.73 Billion by 2022, at a CAGR of 4.56% during the forecast period.
Northbrook, IL 60062 -- (SBWIRE) -- 05/26/2022 -- The global mobile power plant market is expected to grow from an estimated USD 1.39 Billion in 2017 to USD 1.73 Billion by 2022, at a CAGR of 4.56% during the forecast period. This growth is primarily driven by the lack of power infrastructure, increasing demand for electricity in remote locations, frequent natural disasters, and increase in onshore oil rigs. The Middle East & Africa region is estimated to hold the largest share of the mobile power plant market. The Asia Pacific region held the second largest market share in 2016.
The report further segments the market by application into oil & gas rigs, emergency power, remote area electrification, and others. Emergency power is estimated to be the largest segment of the market, by value. Frequent natural disasters in countries such as Japan, China, US, and India are expected to drive the emergency power market during the forecast period.
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The report segments the market by fuel type into natural gas/LPG, diesel, and others. The natural gas/LPG segment is estimated to hold the largest share of the market in 2017. Natural gas is clean, efficient, and affordable as compared to other fuels. These advantages of natural gas would drive the market for natural gas based mobile power plant.
21-50 MW is estimated to be the largest segment of the mobile power plant market, by power rating, 21-50 MW mobile power plants are mainly used for large projects such as electrification of village or coastal areas and emergency power requirement. Countries such as Indonesia, Angola, Nigeria, and India are showing rapid growth in the 21-50 MW mobile power plant segment due to the recent increase in demand for electricity in remote areas.
Middle East & Africa: The largest market in mobile power plant
The Middle East & Africa region is projected to be the largest market for mobile power plant. The market growth in this region can be attributed to increasing investments in remote area electrification in the Sub-Saharan African region and development of oil & gas sector in the region. Asia Pacific is estimated to be the fastest growing market during the forecast period. Increasing investments in coastal area electrification in Southeast Asia and increasing number of natural disasters in India, Japan, and China would boost the market of mobile power plant in the future.
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The key players in this mobile power plant market include GE (US), Siemens (Germany), APR Energy (US), Kawasaki Heavy Industries (Japan), PW Power Systems (US), Metka (Greece), Solar Turbines (US), Turbine Technology Services (US), Vericor (US), Mapna (Iran), Meidensha (Japan), and Ethos Energy (UK).
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