Power Generation Technologies Market size was valued at USD 1391.09 Billion in 2020 and is projected to reach USD 1833.74 Billion by 2030, growing at a CAGR of 3.53 % from 2022 to 2030.
Due to the rising population, rising consumption, and quick urbanization, the global market for power generation has seen high demand. As a result of rising demand for electricity caused by rising consumption, the power generation market is expanding globally. Additionally, rising government and industry spending on the construction and maintenance of energy infrastructure has contributed to the market’s expansion. The market is comprehensively evaluated in the study on the global power generation market. The research provides a thorough analysis of the market’s key segments, trends, drivers, restraints, competitive environment, and other important elements.
The process of converting different types of energy into electrical energy is known as power generation. Most modern uses (residential, commercial, and industrial) use electricity, and the energy sources used to produce it can generally be divided into two categories: renewable energy and non-renewable energy. At a power plant, electricity can be produced (often by electromechanical generators powered by heat engines burning fuel), by nuclear fission, or by other methods like the kinetic energy of moving water or wind, among others.
The production of power and its distribution within a predetermined network are two crucial activities carried out by the power generation sector. Entities that run electric power producing facilities, such as companies, single proprietors, and partnerships, do both tasks. These facilities are engaged in the production of electricity using a variety of energy sources, including fossil fuels, nuclear energy, solar energy, geothermal energy, wind energy, and water energy. The majority of the electrical energy used in current power systems is produced from non-renewable resources including coal, oil, and natural gases. Utility, industrial, combined heat and power (CHP) systems, wastewater treatment facilities, oil and gas production facilities, commercial and public structures, and other industries all use power generating in some capacity.
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Key players in the global Power Generation Technologies market covered:
Alstom S.A.
Cummins, Inc.
Mitsubishi Hitachi Power Systems, Ltd
Brightsource Energy, Inc
Caterpillar, Inc.
Esolar Inc
Ansaldo Energia S.p.A
Yanmar Co., Ltd.
Bergey Windpower
Siemens AG
General Electric Company
Mitsubishi Heavy Industries, Ltd.
Doosan Heavy Industries & Construction
Wind Energy Solutions
On the basis of types, the Power Generation Technologies market from 2015 to 2025 is primarily split into:
Steam Turbines
Micro Turbines
Gas Turbines
Gas Engines
Micro CHP
Nuclear Power Reactors
Small Wind
Diesel Generators
Gas Generators
Concentrating Solar Power
On the basis of applications, the Power Generation Technologies market from 2015 to 2025 covers:
Coal
Biomass
Nuclear
Solar Thermal
Geothermal Power Plants
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2025) of the following regions are covered:
North America
United States
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Russia
Others
Asia-Pacific
China
Japan
South Korea
Australia
India
South America
Brazil
Argentina
Columbia
Middle East and Africa
UAE
Egypt
South Africa
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