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.

The global power generation market size is expected to grow from $1,614.03 billion in 2021 to $1,763.21 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%.The growth in the power generation market 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 power generation market is expected to reach $2,462.37 billion in 2026 at a CAGR of 8.7%.

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: Hydro Electricity, 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 power generation market in 2021.

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: Enel SpA, Electricite De France SA, State Power Investment Corporation, E.ON SE, Engie, Huaneng Power International, Inc., Exelon Corp, Endesa SA, Datang International Power Generation Company Limited, and Inter RAO UES.

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 (2016-21) and ten years forecast (2022-2026-2031)

The Power Generation Global Market Report 2022:  Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides power generation market overviews, analyses 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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