Modular Power Plant Market: Introduction

  • 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. 

Key Drivers and Restraints of Modular Power Plant Market

  • 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. China consumed 5,367 TWh of electricity in 2016. Its electricity consumption increased to 5,683 TWh in 2017.
  • High investment in infrastructure development and rising rate of industrialization are also fuelling the need for electricity generation. This is driving the demand for modular power plants.
  • Challenge of providing power to remote and inaccessible areas is also positively influencing the market. These plants are easy to install, and can be efficiently used for power generation and distribution in such remote areas. However, high initial investment is a key factor restraining the global modular power plant market.

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Natural Gas Segment to Offer Lucrative Opportunities

  • The global modular power plant market can be segmented in terms of fuel type, application, and region
  • In terms of fuel type, the global market can be classified into natural gas, diesel, and biofuel. The natural gas segment is expected to expand at a rapid pace during the forecast period owing to several advantages of natural gas such as abundance of availability and low emission
  • Based on application, the global modular power plant market can be divided into oil & gas rigs, remote area electrification, and others

Middle East & Africa to Hold Major Share of Global Modular Power Plant Market

  • Based on region, the global modular power plant market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • The market in Middle East & Africa is expected to expand at a rapid pace during the forecast period owing to the increase in investments in remote area electrification in the Sub-Saharan African region and development of the oil & gas sector in the region. More than 77% of the total population in Middle East & Africa lives without access to grid-connected electricity. This provides lucrative opportunities for the market in Middle East & Africa.
  • Asia Pacific is another vital region of the global market. Asia Pacific is the most populated region in the world. It accounts for around 50% of the global population. Thus, demand for electricity is high in the region.
  • Growth in industrialization in major economies such as China, India, and Japan is also provide positive influence on the growth of the market
  • North America and Europe are expected to grow at a stagnant pace during the forecast period.

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Key Players Operating in Global Modular Power Plant Market:

The global modular power plant market is highly concentrated, with top manufacturers accounting for approximately 40%–45% share of the market. A few of the key players operating in the global Modular Power Plant Market are:

  • APR Energy 
  • Motor factory Hatz GmbH & Co. KG
  • Valmet
  • Wärtsilä
  • Ascot Industrial S.r.l.
  • MWM, Caterpillar Energy Solutions

Global Modular Power Plant Market: Major Developments

  • In December 2019, the technology group Wärtsilä received the first order of its innovative new Wärtsilä Modular Block solution for power generation from Aggreko, a global provider of mobile, modular power, temperature control and energy services. The Wärtsilä Modular Block solution would replace the existing diesel generators currently powering the mine.
  • In June 2019, Wärtsilä launched the modular solution for providing ready to go power plants. The Wärtsilä Modular Block power plant solution is a pre-fabricated, modularly configured, and expandable enclosure for Wärtsilä medium-speed 34SG gas engine generators.

Global Modular Power Plant Market: Research Scope

Global Modular Power Plant Market, by Fuel Type

  • Natural Gas
  • Diesel
  • Biofuels

Global Modular Power Plant Market, by Application

  • Oil & Gas Rigs
  • Remote area electrification
  • Others

Global Modular Power Plant Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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