Global Power Generation Market Report 2022

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The main companies in the power generation market are Enel SpA, Electricite De France SA, State Power Investment Corporation, E. ON SE, Engie, Huaneng Power International, Inc., Exelon Corp, Endesa SA, Datang International Power Generation Company Limited and Inter RAO UES.

New York, December 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Power Generation Global Market Report 2022” – https://www.reportlinker.com/p06193685/?utm_source=GNW

The global power generation market is expected to grow from $ 1,614.03 billion in 2021 to $ 1,763.21 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 2,462.37 billion in 2026 at a CAGR of 8.7%.

The power generation market includes sales of electricity by entities (organizations, sole proprietorships and partnerships) that operate power generation facilities. These facilities generate electricity using various forms of energy, such as fossil fuels, nuclear, solar, wind and water. .

Establishments in this industry produce electrical energy and supply electricity transmission and distribution networks.

The main types of electricity generation are hydroelectricity, electricity from fossil fuels, nuclear electricity, solar electricity, wind electricity, geothermal electricity, biomass electricity and other electricity. Hydroelectricity, also known as hydroelectric power or hydroelectric power, is a type of energy that generates electricity by harnessing the power of moving water, such as flowing water over a waterfall.

Power to generate electricity comes from conventional / non-renewable sources and renewable sources. The different types of networks include off-grid, the grid is used by the residential, commercial and industrial sectors.

Asia-Pacific was the largest region in the power generation market in 2021. Western Europe was the second largest region in the power generation market.

The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.

The increasing applications of electricity in the transportation industry are expected to increase the demand for electricity, driving the market for power generation. The electrification of railways in underdeveloped and developing countries, the establishment of public transport networks such as rapid metro systems and the increasing use of electric vehicles in developed countries will create significant opportunities. for power generation companies in the market.

For example, to achieve zero carbon emissions, Network Rail estimates that 13,000 single track kilometers – or about 450 km per year – of track will need to be electrified by 2050 in the UK and around 251 kilometers have been electrified between 2019 and 2020. According to the Edison Electric Institute (EEI), annual sales of electric vehicles in the United States are expected to exceed 1.2 million by 2025. Electric vehicles are expected to account for 9% of global electricity demand. by 2050.

Power generation companies use batteries to store solar energy during daylight hours. Energy storage sites are made up of large lithium-ion batteries.

The storage of energy in batteries is also becoming important in other types of power generation. These batteries store enough energy to serve as a backup in the event of a power shortage due to disruptions in the fuel supply.

They are designed to absorb solar energy and feed it back into the grid. These systems minimize the need for capital-intensive power generation plants, improve transmission and distribution efficiency, and reduce operating costs.

By 2025, the World Bank Group aims to finance 17.5 gigawatt hours (GWh) of battery storage, more than tripling the 4 to 5 GWh currently installed in all developing countries.

The coronavirus disease (COVID-19) outbreak acted as a significant constraint on the power generation market in 2020 as demand for utilities from industrial and commercial establishments declined due to trade restrictions and blockades imposed by governments around the world. Many manufacturing facilities around the world have been shut down. operations to contain the spread of the virus among its workforce, thereby limiting the need for utilities such as electricity and sewage treatment.

COVID-19 is an infectious disease with flu-like symptoms, including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including in Western Europe, North America and Asia.

Measures taken by national governments to contain transmission have resulted in a decline in economic activity, with countries entering a state of “lockdown” and the outbreak negatively impacting businesses throughout 2020 and through. ‘in 2021. However, it is expected that the power generation market will recover from the shock during the forecast period, as this is a’ black swan ‘event and not related to persistent weaknesses or fundamentals of the global market or economy.

Countries Covered in Power Generation Market Report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States , Venezuela and Vietnam.

Read the full report: https://www.reportlinker.com/p06193685/?utm_source=GNW

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