Modular power plant is a location independent system, wherein all the modules are preconfigured for quick installation, and are delivered to the installation site prefabricated. This facilitates the installation of modular cogeneration power plant on site and shortens set-up times, allowing precision assembly even in locations with limited infrastructure. Rise in demand for electricity across the globe is a major driver of the modular power plant market. Strong growth in economy and rise in population have led to an increase in consumption of power. In addition, high investment in infrastructure development and rising rate of industrialization are also fueling the need for electricity generation. Thus, such factors are propelling the demand for modular power plant which helps drive the market outlook over the forecast period.
MARKET SCOPE
The "Global Modular Power Plants Market Analysis to 2028" is a specialized and in-depth study of the electronics components with a special focus on the global market trend analysis. The report aims to provide an overview of the modular power plant market with detailed market segmentation by fuel type, application and geography. The report provides key statistics on the market status of the leading modular power plant market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of fuel type the market is segmented into natural gas, diesel, and biofuels
- On the basis application, the market is segmented as oil & gas, utility, heavy industry, and others
Drivers:
- Rise in demand for electric power is fueling the market growth
- Abundant availability of natural gas and lower emissions is driving the market growth
- High initial investment restraints the market growth
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South America. The modular power plant market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the modular power plant market in these regions.
IMPACT OF COVID-19 ON MODULAR POWER PLANT MARKET
The emergence of the COVID-19 has severely impacted the power industries, which resulted decline in the demand for modular power plant in the year 2020. The outbreak of the pandemic led to demand-supply gap, shutdown of several manufacturing industries across the globe, which in turn, caused disruptions in raw material procurement and further led to price volatility. The withdrawal of upcoming investments and hold on for ongoing power projects has directly influenced the market growth. In addition, governments across the world were compelled to reduce the business activities in response to minimize the threat of coronavirus. Owing the decline in the business activities has further negatively impacted power demand across various industries. The limited availability of spares and manpower for maintenance due to the pandemic is a major problem that affects the market growth. Furthermore, project delays and cancellation of orders has affected the market dynamics over the pandemic recovery period. Hence, from 2021, the ease in restriction and opening of manufacturing industries have fueled the market growth over the projected period.
MARKET PLAYERS
The report covers key developments in the modular power plant market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in modular power plant market are anticipated to get lucrative growth opportunities in the future owing increase in R&D investments.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the modular power plant market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- APR Energy
- Motor factory Hatz GmbH & Co. KG
- Valmet
- W?rtsil?
- Ascot Industrial S.r.l.
- Caterpillar Energy Solutions
- Aggreko
- Bechtel Corporation
- Siemens
- Atlas Copco