United States Power Generation Market is expected to reach US$ 2.30 billion by 2032 | Major key players - ExxonMobil, ABB Ltd, Inc., AES Corporation.

Market Size amd Growth:

The Power Generation Market size reached US$1.67 billion in 2024 and is expected to reach US$2.30 billion by 2032, growing with a CAGR of 4.1% during the forecast period 2025-2032. The Market is driven by rising global electricity demand, rapid industrialization, and increased investments in renewable energy infrastructure. According to DataM Intelligence

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The Power Generation Market encompasses the production of electricity from various energy sources, including fossil fuels, nuclear, renewable, and hydroelectric power. It involves technologies, infrastructure, and systems used to convert primary energy into electrical energy. The market supports industrial, commercial, and residential sectors, playing a vital role in global economic growth and sustainable energy transition.

Industry Recent Developments:

United States:

✅ October 2025: Power consumption in the United States is expected to hit record highs in 2025 and 2026, driven by surging electricity demand from AI data centers and households transitioning from fossil fuels to electrification. The natural gas share in generation is projected to decline to 40% in 2025, while coal's contribution is expected to briefly increase before receding due to expanding renewable energy.​

✅ September 2025: The U.S. is on track to add a record 33.3 GW of utility-scale solar capacity in 2025, with over 21 GW scheduled for the second half of the year. Solar is set to account for more than 50% of new generating capacity this year, cementing its role as the main driver of new power generation.​

✅ July-September 2025: Renewables continue to dominate new-build power projects, representing over 91% of additions in the first half of the year. Developers are planning significant renewable project starts for 2025, with a robust pipeline, although there remains some risk of delays or cancellations-interest rates are likely to affect project viability moving forward.​

Japan:

✅ October 2025: Japan's power futures market is experiencing rapid growth as new government rules require electricity retailers to arrange power supply up to three years in advance, fueling increased hedging activity and market expansion; major contracts such as those from JERA are set to expire, further boosting futures trading.​

✅ July 2025: The Japanese government approved the Seventh Basic Energy Plan in July 2025, which outlines increased focus on stable energy supply, expansion of decarbonised fuels (including SAF and synthetic fuels), and acceleration of nuclear restarts and renewable energy investments to address both rising demand and climate goals.​

✅ October 2025: International electricity traders converged in Tokyo, highlighting Japan as one of the world's fastest-growing energy markets. This reflects the ongoing liberalization and expansion of Japan's power sector, opening new opportunities for global traders and increased profitability.

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Major Key Players:

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

Market Growth Drivers:

Renewable Energy Integration:

There is a growing global emphasis on integrating renewable energy sources, such as solar, wind, and hydro, into the power grid. This trend is propelled by environmental regulations, government incentives, and the push to decrease carbon emissions.

Grid Modernization and Digitalization:

Investments in grid modernization, including advanced digital technologies, smart meters, and automation, are transforming the reliability and efficiency of power generation and distribution.

Rising Electricity Demand:

Economic growth, urbanization, and rapid industrialization-especially in emerging markets are pushing up electricity consumption, leading to increased investment in new and upgraded generation capacity.

Segments 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:

⇥ 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)

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Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Power Generation market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Power Generation Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Power Generation market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Power Generation Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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Frequently asked questions:

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

➠ Who are the global key manufacturers of the Power Generation Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Power Generation market opportunities and threats faced by the vendors in the global Power Generation Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Power Generation market?

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

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