Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Mobile Power Plant Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
Growth trends in sustainable energy contribute to the expansion of the mobile power plant market as the world increasingly seeks flexible and rapid energy solutions. The market, which was valued at USD 982.46 million in 2022, is anticipated to climb robustly to USD 1.62 billion by 2028, witnessing a compound annual growth rate of 5.12% over the forecast period.
Natural Gas/LPG-powered mobile power plants retain a significant market share, indicative of the transitional shift towards cleaner fuel sources. This segment is garnering notable momentum due to its operational efficiency and reduced emissions profile. Similarly, the Emergency Power segment showcases market dominance, aligning with a global focus on disaster response and resilient power infrastructure.
Urbanization and industrial activities drive growth in the market, demanding mobile solutions for immediate power needs. With many areas experiencing a rise in development and infrastructure projects, mobile power plant solutions have become indispensable for areas with short-term power requirements. Moreover, events necessitating emergency preparedness, such as natural disasters, have illustrated the critical role these plants play in swift energy restoration.
The Middle East region is expected to maintain its prominent position in the global mobile power plant market. This is largely due to the vast infrastructural expansions, ambitious energy diversification programs, and the need for emergency power solutions across the region. The unique market dynamics of the Middle East offer substantial opportunities for the deployment of mobile power plants to support its evolving energy landscape and burgeoning infrastructure.
The market is segmented by capacity into the 1-10 MW, 10-20 MW, and Above 20 MW categories, serving a broad range of energy requirements from small scale to large applications. Further segmentation by application captures the use of mobile power plants in sectors such as Oil & Gas, Emergency Power, and Remote Area Electrification, showcasing the versatility and wide-ranging applicability of these units.
An elaborate competitive landscape presents a comprehensive analysis of major players spearheading the global mobile power plant market. These companies continue to innovate and adapt, catering to the dynamic needs of the global energy sector.
In conclusion, the mobile power plant market continues to expand, presenting a broad array of opportunities across various sectors and regions. With a growing emphasis on sustainable energy solutions and an undiminished need for backup power systems, the future looks promising for this agile and practical source of energy generation.
A selection of companies mentioned in this report includes:
- General Electric Company
- Siemens AG
- Aggreko plc
- APR Energy
- Kawasaki Heavy Industries Ltd.
- MAPNA Group
- Meidensha Corporation
- PW Power Systems, Inc.
- Solar Turbines, Inc.
- Turbine Technology Services Corporation
For more information about this report visit https://www.researchandmarkets.com/r/v8txnp
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
