Recent developments in commercial and industrial sectors is fueling the demand for electricity. Fortune Business Insights predicts the rising demand for continuous supply of electricity to drive the global flexible power plants market, in their new report titled, “Flexible Power Plant Market Size, Share And Global Trend By Fuel Type (Heavy Diesel Oil, Light Diesel Oil, LNG, Dual Fuel, Renewable Energy), By Plant Size (Up to 100MW, 101MW – 500 MW, Above 500 MW), By End User (Utility, Independent Power Producers, Mining, Others), And Geography Forecast Till 2026.”
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Rising Demand for Distributed Power Generation Technology to Drive Market
The increasing demand for renewable energy especially in the power generation sector is a major driver of the flexible power plant market. Most of the power plant operators are investing increasingly in upgrading their systems to cater to the demand for variable electricity. Company investments are also made with the aim of balancing the ratio of supply and demand. This is further anticipated to boost the global market for flexible power plants in the forecast period.
Key Industry Developments
- In January 2019, Wartsila received a contract from Drewag to deliver a combined heat and power engine power plant (CHP) to Dredsen, Germany. The facility will feature eight Wartsila 31SG engines operating on natural gas able to deliver the output of ~90MW.
- In January 2019, Uniper has been awarded a contract from grid operator TenneT to build a new gas power plant in Irsching. The capacity of the plant will be 300MW and is expected to be operation by October 2022. It will serve as a special grid facility to supply power in special emergency circumstances.
- In September 2018, PW system is pleased to announce the contract with Zomet Energy Ltd. to provide 400MW of flexible power to Israel which supports its growing renewable energy capabilities.
Key Market Driver – Shifting trend towards developing flexible power supply
Key Market Restraint – Complexities and quite expensive
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- By Fuel Type
- Heavy Diesel Oil
- Light Diesel Oil
- Dual Fuel
- Renewable Energy
- By Plant Size
- Up to 100MW
- 101MW – 500 MW
- Above 500 MW
- By End User
- Independent Power Producers
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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- DOOSAN Engines
- Wartsila Corporation
- Eastern Generation LLC.
- MAN Diesel & Turbo
- Contour Global
- Daihatsi Mfg. Co.
- Beta Marine Ltd.
- Siemens AG
- Kirloskar Oil Engines Ltd.
- Alstom Power
Major Table of Content For Flexible Power Plant Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Flexible Power Plant Market Analysis, Insights and Forecast, 2016
- North America Flexible Power Plant Market Analysis, Insights and Forecast, 2016
- Europe Flexible Power Plant Market Analysis, Insights and Forecast, 2016
- Asia Pacific Flexible Power Plant Market Analysis, Insights and Forecast, 2016
- Middle East and Africa Flexible Power Plant Market Analysis, Insights and Forecast, 2016
- Latin America Flexible Power Plant Market Analysis, Insights and Forecast, 2016
- Competitive Landscape
- Company Profile
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