Research Nester published a report titled “Power Generation Technologies Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global power generation technologies market in terms of market segmentation by type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global power generation technologies market is anticipated to grow with a CAGR of ~15% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of type into steam turbine, diesel generator, nuclear reactor, solar power, micro-CHP, and others, out of which, the steam turbine segment currently holds the largest market share owing to the high dependance on thermal power plants for electricity generation. A report by International Environment Agency (IEA) stated that, in 2019, 65.3% of the total global electricity was produced from coal and other combustible sources.
The global power generation technologies market is estimated to grow on the back of rising demand for power amongst the growing global population, and innovation in the power generation technology. Introduction of new technology, such as nuclear reactor and solar power, is estimated to boost the market growth. Major companies are investing in utility scale generation of electricity, which is also estimated to boost the market growth. Moreover, growing adoption of renewable energy is estimated to fuel the market growth.
On the basis of geographical analysis, the global power generation technologies market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to the growing population, urbanization, growing energy demand and industrial development the region. The market in the North America is estimated to gain the largest share over the forecast period on account of increasing adoption of renewable energy in the region.
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The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Increasing Adoption of Renewable Energy to Boost the Market Growth
The generation of electricity is not limited to coal and fossil fuels anymore. With the advancement in technology, renewable energy sources are being used to generate electricity. This is estimated to boost the market growth. The growing population is also bound to increase the demand for electricity, which is estimated to boost the market growth.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
However, slow adoption of renewable sources of power is expected to operate as key restraint to the growth of the global power generation technologies market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global power generation technologies market which includes company profiling of General Electric Company, Tokyo Electric Power Company Holdings (TEPCO), ExxonMobil, ABB Ltd., Alstom S.A., DuPont de Nemours, Inc., Siemens AG, The Dow Chemical Company, Envision Group, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Power Generation Technologies market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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