Market Overview:
The global power generation system market is expected to grow from USD XX billion in 2018 to USD XX billion by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for electricity and rising concerns about climate change. Based on type, the wind power segment is expected to lead the global power generation system market during the forecast period. This growth can be attributed to factors such as declining costs of wind energy and government initiatives for promoting renewable energy sources. Based on application, the offshore segment is projected to lead the global power generation system market during the forecast period. This growth can be attributed to factors such as increasing demand for electricity from coastal areas and rising concerns about climate change.
Product Definition:
A power generation system is a set of components that produce electric power. The most common type of power generation system is the thermal power plant, which burns coal, natural gas, or oil to generate steam and drive a turbine generator. Other types of plants include hydroelectric dams, wind turbines, and solar photovoltaic cells.
Wind Power:
Wind power is the electricity generated by wind turbines. Wind turbines are used for generating electric power. The turbine blades capture the wind's energy and convert it into useful form for use in various applications such as homes, industries, etc. Various sizes of these turbines are used to produce different capacities of electricity depending on how much energy is required by a particular application or region.
Solar Power:
Solar power is the energy generated by the sun and used in various applications. The solar power generation system comprises of photovoltaic cells, which are used to generate electricity. These PV cells are made from semiconductors that capture sunlight and convert it into electrical energy. It has been observed that silicon wafers can be manufactured very easily which act as a major raw material for manufacturing these PV cells.
Application Insights:
The offshore application segment accounted for the largest revenue share of over 45% in 2017. The growth is attributed to the use of GPGS platforms for power generation which reduces operating costs and increases energy yield. Furthermore, increasing demand for renewable sources of energy such as wind and solar power has resulted in growing number of projects across the world waters.
Onshore application is expected to be the fastest-growing segment from 2018 to 2030 owing to rising demand from industrial applications including aluminum smelters, cement plants, steel mills and others. Onshore applications also include coal-fired stations that utilize boilers or turbines along with other systems such as flue gas desulfurization equipment and air pollution control devices installed on a single platform. Increasing investments by governments in R&D activities related to electricity generation are expected drive industry expansion over the forecast period thereby driving overall market growth globally over next eight years or so.
Regional Analysis:
Asia Pacific held the largest market share of over 35% in 2017. The region is expected to continue its dominance over the forecast period, with China being a key contributor. In terms of capacity addition, Asia Pacific is likely to outpace other regions with a CAGR of XX% from 2018 to 2030. This can be attributed to various government initiatives such as “One Belt One Road†and “Belt and Road Initiative†that are aimed at promoting trade activities across the region by building new roads and railways networks.
North America accounted for second-largest market share in 2017 owing to growing demand for clean energy sources across U.S., Canada, and Mexico countries especially in light of Paris Agreement on Climate Change signed in 2016 which aims at reducing greenhouse gas emissions worldwide particularly carbon dioxide emissions by more than 80%. Moreover, increasing focus on offshore wind farms along with rising support from U.S.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Government policies and regulations supporting power generation system market growth
- Technological advancements in power generation systems that improve efficiency and reduce emissions
- Rising prices of traditional fuels used for power generation, such as coal and natural gas, driving investments in alternative energy sources like solar and wind power
- Growing demand for distributed or localized energy systems that can better meet the needs of specific geographic areas or customer segments
Scope Of The Report
Report Attributes
Report Details
Report Title
Power Generation System Market Research Report
By Type
Wind Power, Solar Power, Thermal Power, Other
By Application
Offshore, Onshore
By Companies
Rockwell Automation, Hitachi, Wartsila, ABB, Mitsubish, GE, Siemens, SANY, Danfoss, Nordex, Rockwell Automation, Suzlon, Goldwind
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
125
Number of Tables & Figures
88
Customization Available
Yes, the report can be customized as per your need.
Global Power Generation System Market Report Segments:
The global Power Generation System market is segmented on the basis of:
Types
Wind Power, Solar Power, Thermal Power, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Offshore, Onshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Rockwell Automation
- Hitachi
- Wartsila
- ABB
- Mitsubish
- GE
- Siemens
- SANY
- Danfoss
- Nordex
- Rockwell Automation
- Suzlon
- Goldwind
Highlights of The Power Generation System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Wind Power
- Solar Power
- Thermal Power
- Other
- By Application:
- Offshore
- Onshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Power Generation System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A power generation system is a collection of equipment and systems used to produce electrical power.
Some of the key players operating in the power generation system market are Rockwell Automation, Hitachi, Wartsila, ABB, Mitsubish, GE, Siemens, SANY, Danfoss, Nordex, Rockwell Automation, Suzlon, Goldwind.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Power Generation System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Power Generation System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Power Generation System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Power Generation System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Power Generation System Market Size & Forecast, 2018-2028
4.5.1 Power Generation System Market Size and Y-o-Y Growth
4.5.2 Power Generation System Market Absolute $ Opportunity
Chapter 5 Global Power Generation System Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Power Generation System Market Size Forecast by Type
5.2.1 Wind Power
5.2.2 Solar Power
5.2.3 Thermal Power
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Power Generation System Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Power Generation System Market Size Forecast by Applications
6.2.1 Offshore
6.2.2 Onshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Power Generation System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Power Generation System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Power Generation System Analysis and Forecast
9.1 Introduction
9.2 North America Power Generation System Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Power Generation System Market Size Forecast by Type
9.6.1 Wind Power
9.6.2 Solar Power
9.6.3 Thermal Power
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Power Generation System Market Size Forecast by Applications
9.10.1 Offshore
9.10.2 Onshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Power Generation System Analysis and Forecast
10.1 Introduction
10.2 Europe Power Generation System Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Power Generation System Market Size Forecast by Type
10.6.1 Wind Power
10.6.2 Solar Power
10.6.3 Thermal Power
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Power Generation System Market Size Forecast by Applications
10.10.1 Offshore
10.10.2 Onshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Power Generation System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Power Generation System Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Power Generation System Market Size Forecast by Type
11.6.1 Wind Power
11.6.2 Solar Power
11.6.3 Thermal Power
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Power Generation System Market Size Forecast by Applications
11.10.1 Offshore
11.10.2 Onshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Power Generation System Analysis and Forecast
12.1 Introduction
12.2 Latin America Power Generation System Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Power Generation System Market Size Forecast by Type
12.6.1 Wind Power
12.6.2 Solar Power
12.6.3 Thermal Power
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Power Generation System Market Size Forecast by Applications
12.10.1 Offshore
12.10.2 Onshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Power Generation System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Power Generation System Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Power Generation System Market Size Forecast by Type
13.6.1 Wind Power
13.6.2 Solar Power
13.6.3 Thermal Power
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Power Generation System Market Size Forecast by Applications
13.10.1 Offshore
13.10.2 Onshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Power Generation System Market: Competitive Dashboard
14.2 Global Power Generation System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Rockwell Automation
14.3.2 Hitachi
14.3.3 Wartsila
14.3.4 ABB
14.3.5 Mitsubish
14.3.6 GE
14.3.7 Siemens
14.3.8 SANY
14.3.9 Danfoss
14.3.10 Nordex
14.3.11 Rockwell Automation
14.3.12 Suzlon
14.3.13 Goldwind
