This report describes and evaluates the global power generation market. It covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031.
The global power generation market reached a value of nearly $1,614.03 billion in 2021, having increased at a compound annual growth rate (CAGR) of 4.7% since 2016. The market is expected to grow from $1,614.03 billion in 2021 to $2,462.37 billion in 2026 at a rate of 8.8%. The market is then expected to grow at a CAGR of 10.1% from 2026 and reach $3,982.36 billion in 2031.
Growth in the historic period resulted from a rise in power consumption, government initiatives for energy infrastructure, emerging economies, technology advancements, and market liberalization. Factors that negatively affected growth in the historic period were a rise in debts, an increase in interests’ rates, and land scarcity of solar power generation.
Going forward, growth in industrial sector, increasing demand for electricity, an increase in investments and growing use of electricity in transportation will drive market growth. Factors that could hinder the growth of the power generation market in the future include aging power generation infrastructure and environmental regulations.
The power generation market is segmented by type into hydroelectricity, fossil fuel electricity, nuclear electricity, solar electricity, wind electricity, geothermal electricity, biomass electricity and other electricity. The fossil fuel electric power generation market was the largest segment of the power generation market by type, accounting for 56.4% of the total market in 2021. The solar electric power generation market is expected to be the fastest-growing segment in power generation market is segmented by type, going forward at a CAGR of 23.6% during 2021-2026 period.
The power generation market is segmented by end-user into industrial, commercial, residential, and transportation. The residential was the largest segment of the power generation market by end-user, accounting for 35.0% of the total market in 2021. The transportation segment is expected to be the fastest-growing segment in power generation market is segmented by end-user, going forward at a CAGR of 28.9% during 2021-2026 period.
The power generation market is segmented by source of energy into conventional/non-renewable source and renewable source. The conventional/non-renewable source market was the largest segment of the power generation market by source of energy, accounting for 68.4% of the total market in 2021. The renewable source market is expected to be the fastest-growing segment in power generation market is segmented by source of energy, going forward at a CAGR of 12.1% during 2021-2026 period.
The power generation market is segmented by type of grid into off grid and on grid. The on-grid market was the largest segment of the power generation market by type of grid, accounting for 99.5% of the total market in 2021. The off grid market is expected to be the fastest-growing segment in power generation market is segmented by type of grid, going forward at a CAGR of 14.0% during 2021-2026 period.
Asia Pacific was the largest region in the power generation market, accounting for 48.5% of the global market in 2021. It was followed by Western Europe, North America and the other regions. Going forward, the fastest growing regions in the power generation market will be Africa and the South America, where growth will be at CAGRs of 14.1% and 11.1% respectively from 2021-2026.
The coronavirus pandemic has impacted many industries across the world. The imposition of partial to complete lockdown measures in response to COVID-19 has led to an economic downturn in almost all countries and territories worldwide. Its impact has been seen on the global power generation market, as many participants in the industry faced workforce shortages due to fear over the coronavirus spread and the social distancing measures imposed by various governments across the globe.
Lockdown measures taken by governments across the world have disrupted the supply chains in various industries. According to a survey by The Institute for Supply Management, it showed that about 75% of the companies it surveyed in late February and early March 2020 reported some supply chain disruption due to the COVID-19 outbreak. Supply chain disruptions can be caused by various factors such as storage and access restrictions, raw material shortages, reduced productivity due to the shutdown of manufacturing and power generation plants, and others.
The global power generation market is fairly consolidated, with a large number of regional players operating in the market. The top ten competitors in the market made up to 17.66% of the total market in 2021. Major players in the market include Enel SpA, Electricite De France SA, State Power Investment Corporation, E.ON SE, and Engie.
The top opportunities in the power generation market by type will arise in the fossil fuel electricity segment, which will gain $365.2 billion of global annual sales by 2026. The top opportunities in the power generation market by end-user will arise in transportation segment, which will gain $293.2 billion of global annual sales by 2026. The top opportunities in the power generation market by source of energy will arise in conventional/non-renewable source segment, which will gain $455.6 billion of global annual sales by 2026. The top opportunities in the power generation market by type of grid will arise in on-grid segment, which will gain $840.3 billion of global annual sales by 2026. The power generation market size will gain the most in the India at $150.1 billion.
Market-trend-based strategies for the power generation market include changing business models of electric utilities, adoption of batteries to store energy, digital technologies in power generation, nuclear power generation, development of solar tracking mounts technology, deployment of Advanced Ultra-Supercritical (AUSC) solutions, power plant transmissions, and innovations in waste-to-energy technologies.
Player-adopted strategies in the power generation industry include strengthening the growth path in renewables, strategic acquisitions, developing and expanding offshore wind power sources, and expanding energy networks and infrastructure solutions through new investments.
To take advantage of the opportunities, the publisher reccomends the power generation companies to use advanced ultra-supercritical (AUSC) technology for thermal power plants, invest in nuclear power generation, adopt digital technologies in electric power generation, explore power generation from waste, partner with local distributors, focus on localized power generation, set up solar power plants in deserts and oceans, provide competitively priced offerings, offer fixed priced product/services, leverage social media to maximize reach, focus on promoting green credentials and focus on educating people on smart use of electricity.
The global power generation market reached a value of nearly $1,614.03 billion in 2021, having increased at a compound annual growth rate (CAGR) of 4.7% since 2016. The market is expected to grow from $1,614.03 billion in 2021 to $2,462.37 billion in 2026 at a rate of 8.8%. The market is then expected to grow at a CAGR of 10.1% from 2026 and reach $3,982.36 billion in 2031.
Growth in the historic period resulted from a rise in power consumption, government initiatives for energy infrastructure, emerging economies, technology advancements, and market liberalization. Factors that negatively affected growth in the historic period were a rise in debts, an increase in interests’ rates, and land scarcity of solar power generation.
Going forward, growth in industrial sector, increasing demand for electricity, an increase in investments and growing use of electricity in transportation will drive market growth. Factors that could hinder the growth of the power generation market in the future include aging power generation infrastructure and environmental regulations.
The power generation market is segmented by type into hydroelectricity, fossil fuel electricity, nuclear electricity, solar electricity, wind electricity, geothermal electricity, biomass electricity and other electricity. The fossil fuel electric power generation market was the largest segment of the power generation market by type, accounting for 56.4% of the total market in 2021. The solar electric power generation market is expected to be the fastest-growing segment in power generation market is segmented by type, going forward at a CAGR of 23.6% during 2021-2026 period.
The power generation market is segmented by end-user into industrial, commercial, residential, and transportation. The residential was the largest segment of the power generation market by end-user, accounting for 35.0% of the total market in 2021. The transportation segment is expected to be the fastest-growing segment in power generation market is segmented by end-user, going forward at a CAGR of 28.9% during 2021-2026 period.
The power generation market is segmented by source of energy into conventional/non-renewable source and renewable source. The conventional/non-renewable source market was the largest segment of the power generation market by source of energy, accounting for 68.4% of the total market in 2021. The renewable source market is expected to be the fastest-growing segment in power generation market is segmented by source of energy, going forward at a CAGR of 12.1% during 2021-2026 period.
The power generation market is segmented by type of grid into off grid and on grid. The on-grid market was the largest segment of the power generation market by type of grid, accounting for 99.5% of the total market in 2021. The off grid market is expected to be the fastest-growing segment in power generation market is segmented by type of grid, going forward at a CAGR of 14.0% during 2021-2026 period.
Asia Pacific was the largest region in the power generation market, accounting for 48.5% of the global market in 2021. It was followed by Western Europe, North America and the other regions. Going forward, the fastest growing regions in the power generation market will be Africa and the South America, where growth will be at CAGRs of 14.1% and 11.1% respectively from 2021-2026.
The coronavirus pandemic has impacted many industries across the world. The imposition of partial to complete lockdown measures in response to COVID-19 has led to an economic downturn in almost all countries and territories worldwide. Its impact has been seen on the global power generation market, as many participants in the industry faced workforce shortages due to fear over the coronavirus spread and the social distancing measures imposed by various governments across the globe.
Lockdown measures taken by governments across the world have disrupted the supply chains in various industries. According to a survey by The Institute for Supply Management, it showed that about 75% of the companies it surveyed in late February and early March 2020 reported some supply chain disruption due to the COVID-19 outbreak. Supply chain disruptions can be caused by various factors such as storage and access restrictions, raw material shortages, reduced productivity due to the shutdown of manufacturing and power generation plants, and others.
The global power generation market is fairly consolidated, with a large number of regional players operating in the market. The top ten competitors in the market made up to 17.66% of the total market in 2021. Major players in the market include Enel SpA, Electricite De France SA, State Power Investment Corporation, E.ON SE, and Engie.
The top opportunities in the power generation market by type will arise in the fossil fuel electricity segment, which will gain $365.2 billion of global annual sales by 2026. The top opportunities in the power generation market by end-user will arise in transportation segment, which will gain $293.2 billion of global annual sales by 2026. The top opportunities in the power generation market by source of energy will arise in conventional/non-renewable source segment, which will gain $455.6 billion of global annual sales by 2026. The top opportunities in the power generation market by type of grid will arise in on-grid segment, which will gain $840.3 billion of global annual sales by 2026. The power generation market size will gain the most in the India at $150.1 billion.
Market-trend-based strategies for the power generation market include changing business models of electric utilities, adoption of batteries to store energy, digital technologies in power generation, nuclear power generation, development of solar tracking mounts technology, deployment of Advanced Ultra-Supercritical (AUSC) solutions, power plant transmissions, and innovations in waste-to-energy technologies.
Player-adopted strategies in the power generation industry include strengthening the growth path in renewables, strategic acquisitions, developing and expanding offshore wind power sources, and expanding energy networks and infrastructure solutions through new investments.
To take advantage of the opportunities, the publisher reccomends the power generation companies to use advanced ultra-supercritical (AUSC) technology for thermal power plants, invest in nuclear power generation, adopt digital technologies in electric power generation, explore power generation from waste, partner with local distributors, focus on localized power generation, set up solar power plants in deserts and oceans, provide competitively priced offerings, offer fixed priced product/services, leverage social media to maximize reach, focus on promoting green credentials and focus on educating people on smart use of electricity.
Table of Contents
1. Power Generation Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure8. Power Generation Market, Product/Service Analysis -Product/Service Examples9. Power Generation Market, Supply Chain Analysis30. Copyright and Disclaimer
6. Introduction
7. Power Generation Market Characteristics
10. Power Generation Market Customer Information
11. Power Generation Market Trends And Strategies
12. Impact Of COVID-19 On The Power Generation Market
13. Global Power Generation Market Size And Growth
14. Power Generation Market, Regional Analysis
15. Global Power Generation Market Segmentation
16. Global Power Generation Market Comparison with Macro Economic Factors
17. Asia-Pacific Power Generation Market
18. Western Europe Power Generation Market
19. Eastern Europe Power Generation Market
20. North America Power Generation Market
21. South America Power Generation Market
22. Middle East Power Generation Market
23. Africa Power Generation Market
24. Global Power Generation Market Competitive Landscape
25. Key Mergers And Acquisitions In The Power Generation Market
26. Market Background: Electric Power Generation, Transmission, And Distribution Market
27. Global Power Generation Market Opportunities And Strategies
28. Power Generation Market Conclusions And Recommendations
29. Appendix
Executive Summary
Power Generation Global Market Opportunities And Strategies To 2031 provides the strategists; marketers and senior management with the critical information they need to assess the global power generation market as it emerges from the COVID-19 shut down.
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Description:
Where is the largest and fastest growing market for power generation? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The power generation market global report answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider power generation market; and compares it with other markets.
The report covers the following chapters
- Executive Summary - The executive summary section of the report gives a brief overview and summary of the report.
- Report Structure - This section gives the structure of the report and the information covered in the various sections.
- Introduction - This section gives the segmentation of the power generation market by geography, by type, by end-user, by source of energy, and by type of grid covered in this report.
- Market Characteristics - The market characteristics section of the report defines and explains the power generation market. This chapter includes different goods covered in the report and basic definitions.
- Product Analysis - The product analysis section of the report describes the leading products in the market along with key features and differentiators for those products.
- Supply Chain - The supply chain section of the report defines and explains the key players in the power generation industry supply chain.
- Customer Information - This chapter covers recent customers’ trends/preferences in the global power generation market.
- Trends And Strategies - This chapter describes the major trends shaping the global power generation market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- COVID-19 Impact - This chapter describes the impact of the COVID-19 pandemic on the power generation market.
- Global Market Size And Growth - This section contains the global historic (2016-2021) and forecast (2021-2026F, 2031F) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
- Regional Analysis - This section contains the historic (2016-2021), forecast (2021-2026F, 2031F) market value and growth and market share comparison by region.
- Segmentation - This section contains the market values (2016-2021, 2021-2026F, 2031F) and analysis for different segments in the market.
- Global Macro Comparison - The global power generation market comparison with macro-economic factors gives the power generation market size, percentage of GDP, and average power generation market expenditure.
- Regional Market Size and Growth - This section contains the region’s market size (2021), historic and forecast (2021-2026F, 2031F) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa) .
- Competitive Landscape - This section covers details on the competitive landscape of the global power generation market, estimated market shares and company profiles of the leading players.
- Key Mergers And Acquisitions - This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Background - This section describes the electric power generation, transmission, and distribution market of which the power generation market is a segment. This chapter includes the electric power generation, transmission, and distribution market 2016-26 values, and regional analyses for the electric power generation, transmission, and distribution market.
- Market Opportunities And Strategies - This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations - This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for power generation providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
- By Type: Hydroelectricity; Fossil Fuel Electricity; Nuclear Electricity; Solar Electricity; Wind Electricity; Geothermal Electricity; Biomass Electricity; Other Electricity
- By End-User: Industrial; Commercial; Residential; Transportation
- By Source Of Energy: Conventional/Non-Renewable Source; Renewable Source
- By Type Of Grid: Off Grid; On Grid
Companies Mentioned:
Enel SpA; Electricite De France SA; State Power Investment Corporation; E.ON SE; Engie
Countries:
China, Japan, India, Australia, USA, Brazil, UK, Germany, France, Spain, Italy, Russia, South Korea, Singapore, Thailand, Indonesia, Vietnam, Philippines, Malaysia, New Zealand, Hong Kong, Belgium, Sweden, Austria, Denmark, Netherlands, Norway, Finland, Portugal, Switzerland, Ireland, Poland, Czech Republic, Romania, Canada, Mexico, Argentina, Peru, Venezuela, Colombia, Chile, Saudi Arabia, Turkey, UAE, Israel, South Africa, Egypt, Nigeria
Regions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series:
Five years historic and ten years forecast.
Data:
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; power generation indicators comparison.
Data segmentations:
country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Enel SpA
- Electricite De France SA
- State Power Investment Corporation
- E.ON SE
- Engie
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 364 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1614.03 Billion |
| Forecasted Market Value ( USD | $ 3982.4 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
