Utilities

Global Power Generation Market Size, Forecasts, And Opportunities

December 17, 2021 by The Business Research Company

Learn about the global power generation market through The Business Research Company, which provides information on power generation market size, power generation market drivers and restraints, power generation market players, the COVID-19 impact on the power generation market, and more.

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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%.

The increasing applications of electricity in the transportation industry are expected to increase the demand for electricity, driving the power generation market.

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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.

Global power generation market segments include:

By Type: Hydroelectricity, Fossil Fuel Electricity, Nuclear Electricity, Solar Electricity, Wind Electricity, Geothermal Electricity, Biomass Electricity, Other Electricity

By End-User: Residential, Commercial, Industrial

By Sources Of Energy: Conventional/Non-Renewable Source, Renewable Source

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 was the largest region in the global power generation market, accounting for 42% of the market in 2020.

Electric power generation companies are 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.

TBRC’s power generation market report covers:

Major Market Players: 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)

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, leading competitor revenues, profiles and market shares.

TBRC’s 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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