The Mobile Power Plants Market size is projected to reach US$ 2.75 billion by 2031 from US$ 1.90 billion in 2023. The market is expected to register a CAGR of 4.6% in 2023–2031. Rising efforts in electrification of rural and remote areas across the globe are one of the notable trends in the mobile power plant market. In addition, many manufacturers and end users of mobile power plants are integrating mobile power plants with natural gas.
Mobile power plant is used in a wide range of applications, such as emergency power, construction operations, and remote area electrification, among others. Mobile power plants act as the primary source of power in locations that are far away from the reach of power transmission lines. They can also be used as standby sources where other power sources are ordinarily available. The power equipment used in a mobile electric power plant is installed either on a truck, self-propelled chassis, floating trailer, or rail-road flatcar.
Increased demand for electricity is one of the major factors behind the adoption of the mobile power plant market. As per the data published by the US Energy Information Administration (EIA) in 2022, electricity consumption in the US increased by 3.2% compared to 2021. In addition, as per the data published by the European Commission in 2024, the consumption of household electricity increased by 6.2% in the past few years. Such increased demand for electricity is projected to increase the demand of the mobile power plants market globally.
Natural gas as a fuel type is projected to lead the market owing to increased adoption of the fuel. One of the major factors behind the increased adoption is its sustainability. Increased government support for the usage of natural gas for electricity generation is another factor supporting the market growth. The increasing involvement towards technological innovations and advancements is anticipated to help the key players such as Metka, General Electric, etc. in improving their market penetration and contribute broadly towards the development of electricity generation with natural gas. Natural gas is an efficient and reliable power source at a reasonable cost. Developing nations in Asia and Africa are making decent investments in fuel type use, and therefore, it is expected to drive the global market in the near future.
The adoption of these plants is increasing significantly. Some of the benefits of these plants that are driving the market are easy installation, compatibility with a wide range of fuels, and portability, among others. Further, as these plants can be operated with multiple fuels, the dependability on a single fuel is reduced, which further helps protect the operations against fuel supply and price volatility.
Countries across the globe are focusing on developing electrification projects in rural areas. In March 2024, it announced investments of US$ 2.8 billion in electrification projects to increase affordability, reliability, and clean power in rural areas of the US. In addition, in February 2024, the US government announced US$ 366 million to improve energy security and increase affordability in rural US. Such projects in rural areas are projected to create lucrative opportunities for the mobile power plant market in the coming years.
Key segments that contributed to the derivation of the Mobile Power Plants Market analysis are type, cause, disorder type, category, and end user.
The geographic scope of the Mobile Power Plants Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific is projected to grow at a significant growth rate. Asia Pacific mobile power plant market is further categorized on the basis of Australia, China, India, South Korea, Japan, and the Rest of Asia Pacific. Increasing industrialization and investments in the energy industry are one of the primary factors behind the market growth. On the other hand, North America is projected to acquire a notable share of the global mobile power plant market owing to increased investments in the exploration of shale reserves.
The regional trends and factors influencing the Mobile Power Plants Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mobile Power Plants Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.90 Billion |
| Market Size by 2031 | US$ 2.75 Billion |
| Global CAGR (2023 - 2031) | 4.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Fuel Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Mobile Power Plants Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Mobile Power Plants Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Mobile Power Plants Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for mobile power plants and strategies:
The “Mobile Power Plants Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: