Press release
In-Depth Analysis of the Peaking Power Plant Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
How Are the key drivers contributing to the expansion of the peaking power plant market?The escalating need for electricity is predicted to stimulate the expansion of the peaking power plant market in the future. Electric energy, caused by the presence of charged particles such as electrons or protons, exists either as a static charge or as a dynamic current. This growing need for electricity is tied to increasing demand, infrastructure revamps, fluctuating fuel expenses, and environmental laws. Peaking power plants play a crucial role in sustaining grid stability and reliability by supplying extra electricity during times of high demand or when other resources are not accessible. Their swift mobilization and demobilization make them indispensable in managing energy supply fluctuations and maintaining equilibrium between electricity supply and demand. For example, as reported by the International Energy Agency (IEA), a France-based intergovernmental organization, in July 2024, the global demand for electricity is expected to climb by roughly 4% in 2024, a rise from 2.5% in 2023. Therefore, the increasing need for electricity is fueling the expansion of the peaking power plant market.
Get Your Peaking Power Plant Market Report Here:
https://www.thebusinessresearchcompany.com/report/peaking-power-plant-global-market-report
What growth opportunities are expected to drive the peaking power plant market's CAGR through 2034?
The market size of the peaking power plant has experienced robust growth in previous years. It is forecasted to expand from $113.39 billion in 2024 to $121.18 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.9%. The historical growth can be linked to the escalating adoption of energy storage technology, governmental initiatives, and adjustments in energy policies, alongside the fluctuating prices of natural gas, heightened focus on grid reliability, and improvement in the structural makeup of power grids.
In the coming years, the market size of peaking power plants is predicted to experience robust growth, escalating to $155.97 billion in 2029 with a compound annual growth rate (CAGR) of 6.5%. This growth during the projected period is attributable to factors such as the surging demand for electricity, decentralization, development of microgrids, expansion in energy storage along with the integration of renewable energy sources, the rising requirement for reliable power in remote areas, and the global increase in power demand. Noteworthy trends expected during this period encompass the digitalization and cultivation of smart grid technologies, advancements in battery technologies, technological progress, enhancements in energy storage capacities, and innovations in products.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19134&type=smp
What are the emerging trends shaping the future of the peaking power plant market?
Leading businesses in the peaking power plant market are adopting initiatives like hybrid renewable power plants equipped with innovative battery energy storage systems (BESS) to offer reliable peaking power solutions. The hybrid renewable power plants leverage the advantages of both wind and solar energy, creating a steady and reliable power supply. ReNew Surya Ojas Private Limited, a company based in India, inaugurated its premiere hybrid renewable power plant in September 2023. The plant is an innovative project amalgamating solar and wind energy with an efficient battery energy storage system (BESS). The plant in Karnataka resourcefully harnesses solar and wind energy to generate electricity. With its groundbreaking feature of providing up to 300 MW of power during peak demand times, and with the integration of battery storage systems, it has the capability to store excess energy during peak production and discharge it during times of maximum demand.
Which growth-oriented segments of the peaking power plant market are leading the industry's development?
The peaking power plantmarket covered in this report is segmented -
1) By Type: Natural Gas, Hydropower, Diesel, Other Types
2) By Applications: Grid Support, Backup Power, Renewable Integration, Other Applications
3) By End-Users: Commercial, Residential, Utility, Industrial, Other End-Users
Subsegments:
1) By Natural Gas: Gas Turbine Power Plants, Combined Cycle Power Plants (CCPP), Reciprocating Engine Power Plants, Microturbine Power Plants
2) By Hydropower: Pumped Storage Hydropower, Run-of-River Hydropower, Reservoir Hydropower, Small Hydropower Plants
3) By Diesel: Diesel Generators, Diesel Engine Power Plants, Dual-Fuel Power Plants, Mobile Diesel Generators
4) By Other Types: Battery Storage Systems, Solar Thermal Power Plants, Geothermal Power Plants, Biomass Power Plants
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=19134
Which regions are key players in the growth of the peaking power plant market?
Asia-Pacific was the largest region in the peaking power plant market in 2024. North America is expected to be the fastest growing region in the market. The regions covered in the peaking power plant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the peaking power plant market?
Major companies operating in the peaking power plant market are Enel S.p.A., Siemens AG, NRG Energy Inc., The Southern Company, Duke Energy Corporation, PG&E Corporation, NextEra Energy Inc., Alstom SA, General Electric Company, Xcel Energy Inc., Dominion Energy Inc., The AES Corporation, FirstEnergy Corp., WSP Global Inc., Eversource Energy, CenterPoint Energy Inc., Wärtsilä Oyj Abp, MAN Energy Solutions SE, ENGIE SA, APR Energy LLC, Edina UK Limited, Clarke Energy Limited
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=19134&type=smp
What Is Covered In The Peaking Power Plant Global Market Report?
•Market Size Forecast: Examine the peaking power plant market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the peaking power plant market for a structured understanding.
•Key Players Overview: Analyze major players in the peaking power plant market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the peaking power plant market.
•Segment Contributions: Evaluate how different segments drive overall growth in the peaking power plant market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the peaking power plant market.
•Industry Challenges: Identify potential risks and obstacles affecting the peaking power plant market.
•Competitive Landscape: Review strategic developments in the peaking power plant market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release In-Depth Analysis of the Peaking Power Plant Market: Growth Opportunities, Key Trends, and Forecast 2025-2034 here
News-ID: 3943628 • Views: …
More Releases from The Business Research Company

2025-2034 Inkjet Coder Market Evolution: Disruptions, Innovations, and Untapped …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Inkjet Coder Market Through 2025?
Strong growth has been witnessed in recent years in the inkjet coder market. It is projected that this market will expand from $2.11 billion in 2024 to $2.27 billion in 2025, experiencing a compound annual growth rate…

Global Industrial Cooking Fire Protection Systems For Food Manufacturing Market …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Industrial Cooking Fire Protection Systems For Food Manufacturing Industry Market Size Be by 2025?
Over the past few years, the market size for industrial cooking fire protection systems used in food manufacturing has seen a consistent growth. It is projected that the market value will grow…

High Speed Engine Market Trends That Will Shape the Next Decade: Insights from I …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the High Speed Engine Market Size By 2025?
The market for high speed engines has seen considerable growth in the last few years. The market which is valued at $24.17 billion in 2024 is predicted to reach $25.58 billion in 2025, experiencing a Compound Annual Growth…

Industrial Sector Growth Fuels Expansion Of Evaporative Cooling Market: The Driv …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Evaporative Cooling Market Size Growth Forecast: What to Expect by 2025?
The market size for evaporative cooling has seen a robust growth in recent times. The outlook predicts an escalation from $6.41 billion in 2024 to $6.8 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%.…
More Releases for Power
Thermal power Market is Gaining Momentum with Enel, TATA Power, Reliance Power
The Latest Released Thermal power market study has evaluated the future growth potential of Thermal power market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, and emerging trends along with essential drivers, challenges,…
Japan Power Market Outlook to 2030, Update 2018 – The Kansai Electric Power, C …
Japan Power Market
This report elaborates Japan's power market structure and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the Japanese power market's regulatory structure, import and export trends, competitive landscape, and power projects at various stages of the supply chain is provided. The report also gives a snapshot of the power sector in Japan on broad parameters of macroeconomics, supply security, generation…
Global Power Rental Market Insight Report 2018 - Rental Power Solutions, Power E …
The global "Power Rental" Market research report gives point to point breakdown along with the data of Power Rental market’s analytical study, regional analysis, growth factors and leading companies. The research report about the market provides the data about the aspects which drive the expansion of Power Rental industry. The Power Rental market consists of large key companies who play a vital role in the production, manufacturing, sales and distribution…
Japan: Geothermal Power Market Power Plants, Regulations and Company Profiles 20 …
"Geothermal Power in Japan, Market Outlook to 2030, Update 2018-Capacity, Generation, Power Plants, Regulations and Company Profiles", is the latest report from Publisher, the industry analysis specialists that offer comprehensive information and understanding of the Geothermal market in Japan.
The report provides an in-depth analysis on global renewable power market and global Geothermal market with forecasts up to 2030. The report analyzes the power market scenario in Japan (includes conventional Hydro,…
Fluid Power Systems Market SWOT Analysis by Key Players: Parker, Eaton, Tokyo Ke …
QY Research has lately published a new report on “Global Fluid Power Systems Market: Industrial Chain Market Insights, Growth Trends and Competitive Analysis 2025,” for the forecasted period 8-years, i.e. between 2017 and 2025.
The Fluid Power Systems market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been considered…
New research on Medical Power Supply Market To 2022 Profiling SL Power Electroni …
This Global Medical Power Supply market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this…