DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Top 10 Power Generation Technologies Market by Generation - Global Forecast to 2021" report to their offering.
The power generation technologies market is expected to grow from an estimated USD 64.15 Billion in 2016 to USD 85.40 Billion by 2021.
Factors such as increase in electricity consumption and subsequent investment in power generation capacity, and modernization of existing power generation infrastructure are driving the market worldwide.
The report segments the power generation technologies into steam turbines, micro turbines, gas turbines, gas engines, micro CHP, nuclear power reactors, small wind, diesel and gas generators, and concentrating solar power.
In terms of the market, by technology, the small wind market is expected to grow at the fastest pace during the forecast period. Developing countries such as the U.S. and Canada offer high growth opportunities to the small wind market. Factors such as encouraging environment policies, plummeting cost of wind energy generation, and increasing standardization would impart growth in the small wind market.
Following the small wind market, the micro CHP market is expected to grow at the second fastest pace during the forecast period. Developing countries such as the U.S. and Canada offer high growth opportunities to the micro CHP market. Factors such as reduction in carbon footprint, progressive government support, and autonomous heat and electricity generation at a reduced cost would lead to growth in the micro CHP market.
The micro turbine market is expected to grow at a decent pace during the forecast period owing to factors such as increase in energy demand, high reliability, focus on generating clean energy, and easy availability of fuel. The North American micro turbine market is projected to dominate with a share of around 50% in 2016.
The concentrating solar power market is expected to grow at a good pace during the forecast period. Factors such as growing environmental concerns over carbon emissions and efforts to reduce air pollution, policy support from governments to enable adoption of renewable technologies, and the ability to supply dispatchable power would necessitate market growth.
The gas generator sales market is expected to grow at a good pace during the forecast period. Factors such as growing demand for uninterrupted and reliable power supply, growth healthcare infrastructure, rising demand for data centers and IT facilities, and rapid urbanization in developing countries would spur the demand for gas generators.
The power generation technologies market can be directly linked to the ever-growing demand for reliable electric power. However, factors such as supply security, infrastructure concerns, and price disparity across regional markets could restrain market growth. On the other hand, rising urban population, industrialization, and a growing trend of distributed power generation represent promising growth opportunities for the market.
Some of the leading players in the power generation technologies market include Siemens AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Alstom S.A. (France), Ansaldo Energia S.p.A (Italy), Caterpillar, Inc. (U.S.), Cummins, Inc. (U.S.) , among others.
Contracts & agreements was the most common strategy adopted by the top players in the market, constituting more than fifty% of the total development share. This was followed by new product launches, mergers & acquisitions, and expansions.
Companies Mentioned
- Abengoa Solar, S.A.
- Acwa Power
- Alstom S.A.
- Ansaldo Energia S.P.A.
- Areva Sa
- Bdr Thermea Group
- Bergey Windpower
- Brightsource Energy, Inc
- Capstone Turbine Corporation
- Caterpillar Inc.
- Ceres Power Holdings PLC
- Cummins Inc.
- Dongfang Electric Corporation Limited
- Doosan Heavy Industries & Construction
- Esolar Inc
- Flexenergy, Inc
- General Electric Company
- Harbin Electric International Company Limited
- Honda Motor Co. Ltd
- Kingspan Group
- Micro Turbine Technology Bv
- Mitsubishi Heavy Industries, Ltd
- Mitsubishi Hitachi Power Systems, Ltd
- Northern Power Systems
- Shanghai Electric Group Co. Ltd
- Siemens AG
- Solarreserve, LLC
- Vaillant Group
- Viessmann Group
- Wilson Solarpower Corporation
- Wind Energy Solutions
- Xzeres Wind Corporation
- Yanmar Co., Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/fqmlbr/top_10_power
