Global Power Generation Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Power Generation Market Report by The Business Research Company Covers Power Generation Market Drivers And Restraints, Power Generation Market Size, Major Players, And The Impact Of COVID-19 On The Power Generation Market.
The power generation market consists of sales of electric power by entities (organizations, sole traders and partnerships) that operate electric power generation facilities. These facilities generate electric power using various forms of energy, such as fossil fuels, nuclear, solar, wind and water. The establishments in this industry produce electrical energy and provide electricity to electric power transmission and distribution systems. The power generation market is segmented into hydroelectricity, fossil fuel electricity, nuclear electricity, solar electricity, wind electricity, geothermal electricity, biomass electricity and other electricity.
The increasing applications of electricity in the transportation industry are expected to increase the demand for electricity, driving the power generation market. The electrification of railways in underdeveloped and developing countries, setting up of public transportation networks such as rapid metro transit systems, and increasing use of electric vehicles in developed countries will create significant opportunities for power generation companies in the market.
The global power generation market is expected to grow from $1123.99 billion in 2020 to $1168.3 billion in 2021 at a compound annual growth rate (CAGR) of 3.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1484.01 billion in 2025 at a CAGR of 6%.
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Some power generation market trends include electric power generation companies using batteries to store solar energy during daylight hours. The energy-storage sites consist of large lithium-ion batteries. Storage of energy in batteries is also getting prominent in other types of power generation. These batteries store enough energy to serve as a backup in case of power shortage due to disruptions in fuel supply. They are designed to absorb solar power and feed it back to the grid. These systems minimize the need for capital intensive power generation plants, enhance transmission and distribution efficiencies, and reduce operational costs. The World Bank Group is planning to invest $1 billion for a new global program to accelerate investments in battery storage for energy systems.
Global power generation market segments include:
1) By Type: Hydro Electricity, Fossil Fuel Electricity, Nuclear Electricity, Solar Electricity, Wind Electricity, Geothermal Electricity, Biomass Electricity, Other Electricity.
2) By End-User: Residential, Commercial, Industrial.
3) By Sources Of Energy: Conventional/Non-Renewable Source, Renewable Source.
4) By Type of Grid: Off Grid, On Grid.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest global power generation market share.
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The Power Generation Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides power generation market overviews, analyzes and forecasts market size, share, power generation market players, power generation market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The power generation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Power Generation Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: EDF Group, Enel SpA, Engie S.A., E.ON SE, Uniper SE.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Power Generation Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The power generation Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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