The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The power generation market size has witnessed strong growth in recent years, surging from $1913.99 billion in 2023 to $2054.27 billion in 2024, with a compound annual growth rate (CAGR) of 7.3%. The historic period’s growth is attributed to the rise in power consumption, government initiatives for energy infrastructure, emergence of economies, technological advancements, and market liberalization. Looking ahead, the market is poised for strong growth, projected to reach $2683.48 billion in 2028 at a CAGR of 6.9%. Factors driving this growth include expansion in the industrial sector, increasing demand for electricity, rising investments, and the growing use of electricity in transportation. Major trends in the forecast period encompass changes in business models of electric utilities, adoption of batteries for energy storage, integration of digital technologies in power generation, development of solar tracking mounts, deployment of advanced ultra-supercritical solutions, enhancements in power plant transmissions, and innovations in waste-to-energy technologies.

The escalating applications of electricity in the transportation sector are poised to boost the demand for electricity, propelling the power generation market. In underdeveloped and developing nations, the electrification of railways, coupled with the establishment of public transportation networks like rapid metro transit systems, presents significant opportunities for power generation companies. Notably, the Office of Rail and Road (ORR) in the UK estimates that to achieve net-zero carbon emissions by 2050, approximately 13,000 track kilometers – equivalent to 450km per year – need to be electrified, with 179 km already electrified between 2020 and 2021. Meanwhile, the Edison Electric Institute (EEI) anticipates that electric vehicle sales in the USA will exceed 1.2 million by 2025. By 2050, electric vehicles are predicted to contribute 9% to the global electricity demand.

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What Are The Key Trends That Influence Power Generation Market Share Analysis?

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Which Market Players Are Driving Growth In The Power Generation Market?

Major companies operating in the market are 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, Inter RAO UES, Power Grid Corporation of India Limited, NTPC Limited, Tata Power, Adani Power, NHPC Limited, Guodian Corporation, Hokkaido Electric Power Company, Tohoku Electric Power Co, AGL Energy, EDF Energy, RWE, Scottish Power, Centrica, SSE, Drax Power Limited, Intergen, ESBI, Vattenfall AB, Fortum Oyj, Fennovoima Ltd, Areva, Horizon Nuclear Power, Unipro (E.ON Russia JSC), Territorial Generating Company Number One, Mosenergo, Gazprom Energoholding LLC, NextEra Energy, Duke Energy, Southern Company, Dominion Resources, American Electric, Public Service Enterprise Group, ENMAX Corporation, TransAlta Corporation, Comision Federal de Electricidad, Companhia Hidro Elétrica do São Francisco, Copel Geração e Transmissão SA, Eletrobras Eletronorte, Petroleo Brasileiro SA Petrobras, AES Gener, Colbún S.A, Empresas Públicas de Medellín E.S.P., Saudi Electricity Company, Dubai Electricity & Water Authority, Saudi Consolidated Electricity Company, Abu Dhabi Water and Electricity Authority (ADWEA), Abu Dhabi National Energy Company PJSC (TAQA), Israel Electric Corporation, Nuclear Power Production & Development Company of Iran (NPPD), Nawah Energy, Amu Power Company, Zimbabwe Power Company, BioTherm Energy, Kenya Electricity Generating Company, Globeleq Inc.

How Is The Global Power Generation Market Segmented?

The power generation market covered in this report is segmented –

1) By Type: Hydroelectricity, Fossil Fuel Electricity, Nuclear Electricity, Solar Electricity, Wind Electricity, Geothermal Electricity, Biomass Electricity, Other Electricity
2) By Type Of Grid: Off Grid, On Grid
3) By Source Of Energy: Conventional/Non-Renewable Source, Renewable Source
4) By End-User: Industrial, Commercial, Residential, Transportation

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The Power Generation Global Market Report 2024 provides an overview of the power generationmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The power generation market forecast analyzes power generation market size, power generation market share, leading competitor and their market positions.

The Table Of Content For The Power Generation Market Include

1. Power Generation Market Executive Summary
2. Power Generation Market Segments
3. Power Generation Market Size And Template Market Growth Rate
4.  Key Power Generation Market Trends
5. Major Power Generation Market Drivers
……
25. Key Mergers And Acquisitions In The Power Generation Market
26. Top Power Generation Companies
27. Power Generation Market Opportunities And Strategies
28. Power Generation Market, Conclusions And Recommendations
29. Appendix

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