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Allied Market Research

Power Generation Technologies Market: Global Opportunity Analysis and Industry Forecast 2020-2027

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Feb 2021 | 58 Views
 
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 Power generation is one of the most important utilities for modern communities. It is a method of generating power and energy from different sources. Energy and power is not freely available and needs to be produced, transforming other forms of energy to electricity. Power generation technologies are produced from different sources of energy such as fossil fuels, nuclear, solar, wind, and water. Production is done in power stations (likewise called "power plants"). It is used for generating electricity and solar power. Electricity is produced at a power plant by electromechanical generators, fundamentally determined by heat engines filled by burning or nuclear generators and kinetic energy. Other energy sources include solar photovoltaic and geothermal power.

Market scope and structure analysis

Report Metric

Details

  Market size available for years

  2019 –2027    

  Base year considered

  2019                   

  Forecast period

  2020–2027                            

  Forecast units

  Millions (USD)

  Segments covered

  Type, industry vertical and regions

  Regions covered

North America (US and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia Pacific), LAMEA (Brazil, South Africa, and rest of LAMEA         

  Companies covered

Key players involved in the market include Siemens AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Alstom S.A. (France), Ansaldo Energia S.p.A (Italy), Caterpillar, Inc. (U.S.), Cummins, Inc. (U.S) , Yanmar Co., Ltd. (Japan), General Electric Company (U.S.), Mitsubishi Hitachi Power Systems (Japan), Shanghai Electric Group Co., Ltd. (China), Dongfang Electric Corporation Ltd. (China), Harbin Electric International Company (China), Abengoa Solar (Spain), Capstone Turbine Corporation (U.S.), Northern Power Systems (U.S.), Wind Energy Solutions (Netherlands), BDR Thermea Group (Netherlands), and Viessmann Group (Germany).

 

COVID-19 scenario analysis:

  • The global market for power generation is severely impacted by the outbreak of the COVID-19 pandemic. 
  • The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. 
  • Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
  • Thus, insufficiency in raw material supply is expected to hamper the production rate of power generation, which negatively impact the market growth. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Growing population in nations, requirement for power & energy is on the rise. Rapid urbanization and increasing electricity consumption boost the market growth. Industrialization has stoked growing venture in various power generation technologies. There is availability of renewable sources of power and energy such as solar energy, wind energy, and bio thermal energy. Government has also provided some initiatives for power infrastructure for focusing on building and to maintain development of nations. Governments have given subsidies for electricity, which boost the market. Factors that hinder growth of the power generation market include rising interest rates, ageing power generation infrastructure, and environmental regulations.

New product launches to flourish the market 

Mitsubishi Hitachi Power System (MHPS) launched new integrated fusion of fuel cell and gas turbine hybrid power generation system. MHPS has launched a new pressurized hybrid power generation system that integrates solid oxide fuel cell stacks (SOFC) with micro gas turbines (MGT). New technologies within the launch can support development of energy-saving and low-carbon societies. This hybrid system uses city gas as fuel, generating electricity with both ceramic SOFC stacks that operate at a high temperature of around 900℃ and MGTs. Another feature is that the fuel is not burned, rather SOFCs generate electricity, which is from chemical reactions between oxygen in the air and hydrogen and carbon monoxide extracted from reformed city gas, while MGTs generate electricity from post-process.

Surge in use in industrial applications

More urbanization in nations boost growth of the power generation market. Growth of the industrial sector has tremendously increased power production and consumption. Power generation technology companies focus on efficiency greater than 50% and significantly reduce carbon emissions at the source. This is creating new pathways of eco-friendly and renewable sources for power generation. Companies in the power generation industry are using hybrid wind-hydro power generation systems to improve electricity generation outputs. 

Key segments covered:

Segments

Subsegments

  Type

  • Fossil Fuel Power Generation
  • Hydro Power Generation
  • Wind Power Generation
  • Solar Power Generation
  • Nuclear Power Generation
  • Biomass Power Generation
  • Geothermal

  Industry Vertical

  • Industrial

  • Commercial
  • Residential

 

Key benefits of the report:

  • This study presents the analytical depiction of the global Power Generation Technologies along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global power generation technologies market
  • The current market is quantitatively analysed from 2020 to 2027 to highlight the global power generation technologies market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global power generation technologies market analysis based on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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