Power Generation Market 2021 Industry Key Trends, Demand, Growth, Size, Review, Share, Analysis to 2028

(EstateNewsWire.com, August 23, 2021 ) Market Overview

Market Growth

The Global Power generation market is snowballing due to several factors such as increasing demand for electricity from different end-user applications, increasing adoption of smart grid technologies in developing countries to improve efficiency and reliability and rising economic growth globally.

Some of the technologies used for power generation includes Diesel & Gas Generators, Micro Turbines, Steam & Gas Turbines, Gas Engines, Nuclear Power Reactors, Small Wind, Concentrating Solar Power and others.The market is segmented by sources of Fossil Fuels, Oil, Natural Gas, Nuclear Energy, Renewable Sources (Hydro, Solar, Wind, Others), and Other sources.

To reduce the emission of polluting gases, the government have taken some initiatives to use renewable sources for power generation. Also, renewable energy technologies are monitored with more improvised control processes which result in increasing adoption of renewable sources for power generation.

Segmentation

By Application

• Industrial

• Residential

• Commercial

• Others

By Source

• Fossil Fuels

• Oil

• Natural Gas

• Nuclear Energy

• Renewable Sources (Hydro, Solar, Wind, Others)

• Other sources

By Equipment

• Diesel & Gas Generators

• Turbines

• Engines

• Others

Market Analysis

Based on application, the market is segmented into Industrial, Residential, Commercial, and Others.

Geographically, the market is segmented into North America, Asia-Pacific, Europe, South America, and RoW. Asia-Pacific is dominating the global power generation market due to increasing demand for advanced power generation & distribution systems and more potential sources such as wind and solar energy for power generation as this region lies near to the equator.

Some of the recent developments in the industry include:In 2017, American energy firm AES Corporation and German’s firm Siemens formed a joint venture to serve the rapidly growing energy storage market.

Related Topic's

Power Generation EPC Market, Distributed Power Generation Market, Hydrogen Storage Market, LNG Storage Tank Market, Wind Turbine Market

DataM Intelligence

Sai Kiran

+1 877 441 4866

pr@datamintelligence.com

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