Power Generation Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMEP126 | Last Updated On: Jun 07 2022 | Available Formats

> Global Power Generation Market Expected to reach a high CAGR during the forecast period 2022-2029: DataM Intelligence

Global Power Generation Market is segmented By Application (Industrial, Residential, Commercial, Others), By Source (Fossil Fuels, Oil, Natural Gas, Nuclear Energy, Renewable Sources, Other sources), By Equipment (Diesel & Gas Generators, Turbines, Engines, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Power Generation Market is expected to grow at a high CAGR during the forecasting period (2022-2029).

Market Growth 

  • The Global Power generation market is snowballing due to several factors such as increasing demand for electricity from different end-user applications, increasing adoption of smart grid technologies in developing countries to improve efficiency and reliability, and rising economic growth globally.

  • Some of the technologies used for power generation include Diesel & Gas Generators, Micro Turbines, Steam & Gas Turbines, Gas Engines, Nuclear Power Reactors, Small Wind, Concentrating Solar Power, and others.The market is segmented by sources of Fossil Fuels, Oil, Natural Gas, Nuclear Energy, Renewable Sources (Hydro, Solar, Wind, Others), and Other sources.

  • To reduce the emission of polluting gases, the government has taken some initiatives to use renewable sources for power generation. Also, renewable energy technologies are monitored with more improvised control processes which result in increasing adoption of renewable sources for power generation.

Market Analysis

  • Based on application, the market is segmented into Industrial, Residential, Commercial, and Others.

  • Geographically, the market is segmented into North America, Asia-Pacific, Europe, South America, and RoW. Asia-Pacific is dominating the global power generation market due to increasing demand for advanced power generation & distribution systems and more potential sources such as wind and solar energy for power generation as this region lies near to the equator.

  • Some of the recent developments in the industry include: In 2017, American energy firm AES Corporation and German’s firm Siemens formed a joint venture to serve the rapidly growing energy storage market.

Scope of the Report

  • The report profiles the following companies, which includes ABB, Siemens, Alstom, The AES Corporation, Wood Group, Wartsila, Caterpillar Inc., Mitsubishi Heavy Industries Ltd, Bloom Energy, Ansaldo Energia SpA, Cummins Inc., Schneider Electric SE, Capstone Turbine Corporation (CPST), Fuelcell Energy, Inc., and Flexenergy.

  • The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.

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