Power Generation Market Size, Share, Industry, Forecast and outlook (2023-2030)

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, 2023-2030

Power Generation Market Overview

The Global Power Generation Market is expected to grow at a high CAGR during the forecasting period (2023-2030).

Power Generation Market Scope and Summary

Power Generation Market Dynamics and Trends

• 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.

Power Generation Market Segmentation 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 covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.