What is Power - Market?
Power is the amount of energy transferred or converted per unit of time. Increasing demand for Microgrids and EV Charging Stations and driving a turbine that produces electrical energy are the factors driving the global power market growth. Technological advancement in parallel research activities to substantially increase efficiency and is expected to drive market growth during the forecast period.
Highlights from Power - Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | ENGIE (France), Acbel Polytech Inc. (Taiwan), Kansai Electric Power Company (Japan), GE Energy (United States), Iberdrola (Spain), Chubu Electric Power (Japan), Électricité de France (France), China Yangtze Power (China), Vestas (Denmark), Siemens Gamesa (Spain) and Iberdrola (Spain) |
Global Power is a fragmented market due to the presence of various players. The players are focusing on investing more in the advancement of power generation plants. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
ENGIE (France), Acbel Polytech Inc. (Taiwan), Kansai Electric Power Company (Japan), GE Energy (United States), Iberdrola (Spain), Chubu Electric Power (Japan), Électricité de France (France), China Yangtze Power (China), Vestas (Denmark), Siemens Gamesa (Spain) and Iberdrola (Spain) are some of the key players profiled in the study. Power - Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Residential, Commercial and Industrial |
Type | Thermal Power, Hydropower and Wind Power |
On the basis of geography, the market of Power - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Development of Power Distribution System
Market Growth Drivers:
Increasing Usage of Coal Resources and Heavy Dependence on Thermal Fuel Sources for Power Generation, as Major Power-Generating Countries including China, the US, India
Challenges:
Lack of Financial Infrastructure in Developing Economies
Restraints:
High Manufacturing and Maintenance Costs
Opportunities:
Energy Demand has continued to Rise, Global Warming has become an even more Crucial Topic of Discussion
Key Target Audience
Power Regulatory Bodies, Potential Investors, New Entrants, Research and Development Institutes and Others
Market Leaders & Development Strategies
11th November 2021, ENGIE and Crédit Agricole Assurances are pleased to announce that they have reached an agreement to acquire from Canadian institutional investment manager, Alberta Investment Management Corporation, a 97.33% stake of Eolia Renovables, one of the largest renewable power producers in Spain. This acquisition will allow ENGIE to boost its presence in the fast-growing Spanish renewables market and enable the Group to accelerate its growth in the sector and reach its target of 50 GW of renewable capacity by 2025.