Power Generation Market expected to witness a significant growth rate of 4.31% by 2029.

According to the latest research report published by Market Data Forecast, the global power generation market was valued at USD 1646.92 billion in 2023 and is projected to reach a valuation of USD 2033.89 billion by 2029, growing at a CAGR of 4.31% during the forecast 2024 to 2029.

Power generation is done using conventional/non-renewable and renewable energy sources. While fossil fuels have dominated the world's energy production capacity, alternative energy sources have been highly adopted in recent years. The growing call for electricity has driven power generation activities.

Global Power Generation Market Report Scope:

• Market Size (2029): USD 2033.89 Billion
• Market Size (2023): USD 1646.92 Billion
• CAGR (2024 to 2029): 4.31%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Source, Application and Region.
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Siemens, General Electric, ABB, Schneider Electric, SMA Solar Technology, Huawei Technology Bloom Energy and Others.

Market Drivers:

The main factor driving the market for electricity generation is the population's rapid expansion. Numerous emerging countries worldwide had notable economic growth in the preceding year. One of the factors propelling the worldwide power generation market growth is the growing population. Countries like Mexico, Russia, Argentina, South Africa, South Korea, Indonesia, Thailand, Taiwan, China, Brazil and India will offer enticing growth chances and strong potential. The expansion of the power generation market is supported by the policies of the government in these regions. The majority of these countries have renewable energy sources, which has boosted the quantity of power generated from sustainable sources. This is another positive feature. Future market participants in the power generation sector now have an opportunity thanks to the opportunities provided by developing nations.

The world is experiencing a surge in the use of smart grid technology because of its advantages, including increased efficiency and dependability. It has been anticipated that the primary factor influencing the expansion of the global power generation market in the next years would be the increase in demand for smart grids.

The growing urbanisation in emerging nations has led to a sharp rise in energy demand. This has ultimately compelled national governments to rethink several programs to guarantee a sufficient supply of electricity.

Market Restraints:

The system and generation equipment currently in use are primarily dependent on old infrastructure, which makes it difficult for them to fulfil the rising sophisticated demand for power. Because replacing outdated infrastructure would be expensive and provide a major barrier to the market, emerging nations are particularly affected by these issues.

The largest obstacle to market expansion is the reduction in investment in the electricity industries. The investment in gas-fired generating is impacted by delays in emerging nations with abundant gas supplies, and the investment in a coal fired generation has already dropped by 11 percent.

The market is expected to confront many obstacles despite its abundance of prospects, including expensive capital and startup costs as well as related operating and maintenance expenses. Another element influencing market expansion in some developing or undeveloped nations is the incorporation of intermittent renewable sources into the current networks.

Robust storage and grid management solutions are necessary for power integration, but they are not widely accessible in many nations. Uneven distribution of supply and demand could result from the unpredictability of renewable energy generation. Furthermore, the international supply chain for equipment used in power generation and the exchange of power between two or more nations can be impacted by geopolitical tensions and trade conflicts.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/power-generation-market

Key Insights from The Report:

• Based on source, the non-renewable segment led the market and accounted for the largest share of the global market in 2023.
• Based on application, the Industrial segment captured the highest share of the global market in 2023.
• Asia-Pacific dominated the telemedicine market in 2023. North America accounted for the second-highest share of the global market in 2023 and on the other hand, the Europe region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Application:
• Commercial
• Industrial
• Residential

By Source:
• Non-Renewable
• Renewable Power
• Solar PV
• Others

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year, and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Power Generation Market, By Source
6.1.1 Non-Renewable
6.1.2 Renewable Power
6.1.3 Solar PV
6.1.4 Market Size Estimations & Forecasts (2024-2029)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Power Generation Market, By Application
6.2.1 Commercial
6.2.2 Industrial
6.2.3 Residential
6.2.4 Market Size Estimations & Forecasts (2024-2029)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Power Generation Market, by Region
7.2 North America - Market Analysis (2024-2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Source
7.2.3 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Source
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Source
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Source
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Source
7.6.3 By Application

8. Key Player Analysis
8.1 Siemens AG
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 General Electric
8.3 ABB Ltd
8.4 Schneider Electric
8.5 SMA Solar Technology
8.6 Huawei Technology
8.7 Bloom Energy

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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