DUBLIN--(BUSINESS WIRE)--The "Power Generation Global Market Opportunities And Strategies To 2022" report has been added to ResearchAndMarkets.com's offering.
Where is the largest and fastest-growing market for the power generation market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global power generation market report answers all these questions and many more.
This report describes and evaluates the global power generation market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global power generation market reached a value of nearly $1,341.6 billion in 2018, having grown at a compound annual growth rate (CAGR) of 2.4% since 2014, and is expected to grow at a CAGR of 3.5% to nearly $1,537.5 billion by 2022.
Growth in the historic period resulted from increased consumption of electricity in both developed and developing countries, government initiatives for energy infrastructure, economic growth in emerging economies, and improvements in power generation technologies. Factors that negatively affected growth in the historic period were high transmission and distribution losses, geopolitical tensions and stringent environmental regulations on power generation. Going forward, increasing the use of electricity in transportation and the growing global economy will drive growth. Factors that could hinder the growth of the power generation market in the future include rising interest rates, ageing power generation infrastructure and environmental regulations.
The power generation market is segmented by type of energy source into hydroelectric power generation, fossil fuel electric power generation, nuclear electric power generation, solar electric power generation, wind electric power generation, geothermal electric power generation, biomass electric power generation and other electric power generation. Fossil fuel electric power generation was the largest segment of the power generation market by type of energy source in 2018 at 70.8%. The solar electric power generation market is expected to be the fastest-growing segment going forward at a CAGR of 9.5%.
The power generation market is also segmented by end-user into residential, commercial, and industrial. Industrial power generation was the largest segment of the power generation market by end-user in 2018 at 41.7%. The commercial power generation segment is expected to be the fastest-growing segment going forward at a CAGR of 3.65%.
Asia-Pacific was the largest market for power generation, accounting for 49.7% of the global market in 2018. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the power generation market will be Asia-Pacific and the Middle East, where growth will be at CAGRs of 4.9% and 4.8% respectively. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 4.7% and 2.0% respectively.
The power generation market is fairly fragmented, with a large number of small players. Though a small number of large players register a significant market share, top ten players constitute one-fourth of the market. Players in the market include EDF Group, Enel SpA, Engie S.A., E.ON SE, and Uniper SE.
The global electric power generation, transmission, and distribution market, of which the power generation market is a segment, reached a value of nearly 3,778.6 billion in 2018, having grown at a compound annual growth rate (CAGR) of 2.6% since 2014, and is expected to grow at a CAGR of 3.7% to nearly $4,365.1 billion by 2022. The electric power transmission, control, and distribution market was the largest segment of the global electric power generation, transmission, and distribution market, and was worth $2,437.1 billion in 2018. The power generation segment was the second-largest segment, accounting for 35.5% of the total. The electric power transmission, control, and distribution segment is expected to be the fastest-growing segment in the electric power generation, transmission, and distribution market at a CAGR of 3.8% during 2018-2022.
The top opportunities in the global power generation market will arise in the fossil fuel electric power generation segment, which will gain $157.6 billion of global annual sales by 2022. The power generation market size will gain the most in China at $92.44 billion. Market-trend-based strategies for the power generation market include investing in lithium-ion batteries to store solar energy, adopting digital technologies to optimize electricity production, deploying solar tracking mounts to increase efficiencies of solar panels, and implementing carbon capture technologies in power generation operations. Player-adopted strategies in the power generation industry include expanding businesses through strategic partnerships, increasing market shares through investing in strategic acquisitions, and expanding renewable energy generation businesses through acquisitions and mergers.
To take advantage of these opportunities, the author recommends the power generation companies to focus on installing modular turbines in power plants, focus on setting up solar power production and power plants in deserts and ocean spaces and to educate people on smart use of electricity.
- Abu Dhabi National Energy Company PJSC (TAQA)
- Abu Dhabi Water and Electricity Authority (ADWEA)
- Adani Power
- AES Gener
- AGL Energy
- American Electric
- Amu Power Company
- BioTherm Energy
- China Datang Corporation
- China Guodian Corporation
- China Huaneng Group
- Colbn SA
- Comision Federal de Electricidad
- Companhia Hidro Eltrica do So Francisco
- Copel Gerao e Transmisso SA
- Dominion Resources
- Drax Power Limited
- Dubai Electricity & Water Authority
- Duke Energy
- Eletrobras Eletronorte
- Empresas Pblicas de Medelln ESP
- Enel Generacin Chile
- ENMAX Corporation
- Fennovoima Ltd
- Fortum Oyj
- Globeleq Inc
- Hokkaido Electric Power Company
- Horizon Nuclear Power
- International Power/GDF SUEZ SA
- Israel Electric Corporation
- Kenya Electricity Generating Company
- Limited Liability Company Gazprom Energoholding
- Nawah Energy
- NextEra Energy
- NHPC Limited
- NTPC Limited
- Nuclear Power Production & Development Company of Iran (NPPD)
- Petroleo Brasileiro SA Petrobras
- PJSC Inter RAO UES
- PJSC Mosenergo (TGK-3)
- PJSC Territorial Generating Company Number One (TGK-1)
- PJSC Unipro (JSC EON Russia, OGK-4)
- Power Grid Corporation of India Limited
- Public Service Enterprise Group
- Saudi Consolidated Electricity Company
- Saudi Electricity Company
- Scottish Power
- Southern Company
- Tata Power
- Tohoku Electric Power Co
- TransAlta Corporation
- Vattenfall AB
- Zimbabwe Power Company
- lectricit de France SA
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