Nova One Advisor announced the latest study on “Power Generation Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030″.
The global power generation market size is projected to hit around USD 1810.74 billion by 2030. Furthermore, the growth rate from 2022 to 2030 is positioned to be at a CAGR of 3.59%.
|Forecast Period||2022 to 2030|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Type, Industry Vertical, Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
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In the final section of the research report, Nova One Advisor provided the global power generation market structure and a detailed competition landscape to provide a dashboard view of key players operating in the power generation market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.
Some of the major players in the power generation market include:
Abu Dhabi National Energy Company PJSC (TAQA), Abu Dhabi Water and Electricity Authority (ADWEA), Adani Power, AES Gener, AGL Energy, American Electric, Amu Power Company, Areva, BioTherm Energy, Centrica, China Datang Corporation, China Guodian Corporation, and China Huaneng Group
Growth Factors of Power Generation Market 2022-2030
Power generation is one of the most important factors in any modern community. The power generation market is expected to witness rapid growth over the forecast years. This growth is attributed to increase in demand for electricity across the globe. Power generation is carried out by means of conventional/non-renewable and renewable sources of energy. Fossil fuels dominated the global energy generation and alternative power sources have also been witnessing rapid growth over the forecast years.
The diverse types of power generation sources are hydroelectric power generation, fossil fuel electric power technology, nuclear electric power generation, solar electric power generation, wind electric power generation, geothermal electric power generation, biomass electric power generation, and other electric power technology. Increased consumption of electricity in developed and developing countries is expected to boost the global power generation market during the forecast period.
Key Issues Addressed
- What will be the total power installed and generated by 2030?
- What is driving investment in the various regions?
- What are the key growth opportunities for power generation companies?
- How the investment in different power sources will pan out by 2030?
Market drivers & trends
The rapid increase in population is the key driver for the power generation market. The economic growth observed in developing countries, such as India, China, Brazil, Thailand, Taiwan, South Korea, Indonesia, Argentina, South Africa, Russia, and Mexico, has created lucrative opportunities for the future market players of the power generation market. Moreover, rise in urbanization in developing countries has resulted in a gradual rise in demand for electricity. This has forced governments across the world to take various initiatives to ensure proper power supply in their country. Therefore, this has resulted in rapid increase in investment for the power generation industry. This is expected be a major factor that drives the power generation market over the forecast period.
Smart grid technologies are gaining popularity across the world due to significant their benefits in terms of efficiency and reliability. The rise in demand for smart grids is expected to be a major factor that influences the growth of the global power generation market in the coming years.
- The power generation industry volume is defined as the total electrical energy (TWh) generated within a country over the course of each calendar year.
- The value of the industry is obtained by multiplying the volume of generated energy by the appropriate annual average non-household power price, or equivalent, excluding taxes and levies.
- The power generation industry is segmented by volume into electricity produced from nuclear, conventional (thermal generation from fossil fuels), and renewable (hydropower, wind, solar PV, biomass, and geothermal) sources.
- All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2021 annual average exchange rates.
- Forecast figures presented in this report are calculated using crisis scenarios for the market. The length of the pandemic and restrictions introduced by various countries are still difficult to predict. Many governments had introduced national lockdowns and temporarily banned sales of products that are deemed “non-essential”. As the length of the pandemic and its impact on this market is not certain, the data used in this report has been modeled taking forecast impacts on national economics into consideration.
- The global power generation industry had total revenues of US$1398.49 bn in 2021.
- Industry consumption volume increased with a CAGR of 2% between 2017 and 2021, to reach a total of 24,296 TWh in 2021.
- Renewables have recorded the highest output growth among energy sources in recent years, as a result of a pledges for low-carbon economies, increasing their share in the power energy mix against fossil fuels.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
- Fossil Fuels
- Electricity Based
By Industry Vertical
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Why should you invest in this report?
If you are aiming to enter the global power generation market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for power generation are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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