Global Power Generation Market Insights: Renewable Energy & Technological Advancements | Major Growing Regions - North America, Europe, Asia Pacific Middle East and Africa and South America, U.K., Germany, France, and Italy, Japan, South Korea, and Austra

Global Power Generation Market reached US$ 1.6 billion in 2023 and is expected to reach US$ 2.2 billion by 2031, growing with a CAGR of 4.1% during the forecast period 2024-2031.

Power Generation Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Power Generation refers to the process of producing electrical power through various methods, typically converting different energy sources like fossil fuels, nuclear, solar, wind, or hydropower into electricity. Power generation is essential for supplying energy to homes, industries, and businesses, driving economies and technological advancements.

List of the Key Players in the Power Generation Market:

State Grid Corporation of China, Engie SA, Electricite de France S.A., Iberdrola, S.A., National Thermal Power Corporation Limited, NTPC Ltd, ExxonMobil, Chevron Corporation, ABB Ltd, Inc., AES Corporation and Huaneng Power International, Inc.

Industry Development:

In 2022, the National Thermal Power Corporation (NTPC) and Bharat Heavy Electricals (BHEL) collaborated to establish India's largest floating solar power plant, located in Telangana, with a capacity of 100 MW. This plant is expected to reduce carbon dioxide emissions by 210,000 tonnes annually.

In May 2024, GE Vernova confirmed an order for 16 LM6000VELOX aeroderivative gas turbine package solutions, which include an LM6000 turbine and generator. These units will be installed at the Kingston Energy Complex of the Tennessee Valley Authority (TVA) in Kingston, Tennessee, with the goal of generating up to 850 megawatts of power.

Growth Forecast Projected:

The Global Power Generation Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Power Generation Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Power Generation Market:

By Source: Non-Renewable, Renewable

By Grid: Off-Grid, On-Grid

By End-User: Industrial, Commercial, Residential, Transportation

Regional Analysis for Power Generation Market:

The regional analysis of the Power Generation Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Power Generation market?

➠ Who are the leading manufacturers in the global Power Generation industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Power Generation industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Power Generation market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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