Global Power Generation Market: Overview
Power generation is one of the most important utilities in any modern community. The power generation industry has the two key tasks of producing power and distributing it within a predefined network. Both these aspects are being researched heavily in present times due to their significant direct impact on human life. Thus, gaining new investment in order to improve generation and distribution processes and hence come up with progressive designs for the overall electric power system (EPS) is likely to remain a key aim of the global power generation market in the coming years.
The report studies in detail the historical growth trajectory exhibited by the global power generation market in the last few years. The market’s 2013 figures are assessed in detail in order to provide readers with an understanding of the recent happenings in the industry. The report also analyzes the segmentation of the global power generation market to shed light on the hierarchy of the market by various criteria. In addition to this, the competitive dynamics of the global power generation market are also assessed in the report by profiling the leading players operating in the market.
Global Power Generation Market: Trends and Opportunities
The growing global population is the key driver for the global power generation market. Aided by the rapid urbanization in emerging regions, the rising number of consumers has resulted in a steady rise in the demand for electricity. This has forced governments across the world to take proactive steps to ensure steady power supply in their jurisdiction, leading to a steady influx of investment into the power generation industry. This is likely to remain a leading driver for the global power generation market in the coming years.
The rapid economic growth observed in emerging countries such as India, China, Brazil, Thailand, Taiwan, South Korea, Indonesia, Argentina, South Africa, Russia, and Mexico has created promising prospects for the global power generation market. Most of these countries are witnessing large-scale urbanization, driving the demand for power generation and distribution infrastructure.
The rising demand for smart grids is likely to be a key feature of the development of the global power generation market in the coming years. Smart grid technologies are becoming popular across the world due to the significant benefit they provide in terms of efficiency and reliability. Smart grids are already in use in developed regions such as North America and Western Europe, and are likely to enjoy rising adoption in developing countries in the coming years. This is a key development for the global power generation market, as it will enhance almost every aspect of power distribution networks.
Global Power Generation Market: Geographical and Competitive Dynamics
Regionally, Asia Pacific is likely to be a leading contributor to the global power generation market over the coming years. The rising demand for advanced power generation and distribution infrastructure in Southeast Asian countries and the proactive government support to improvements in the power generation and distribution networks in dynamic economies such as India and China are the leading drivers for the power generation market in Asia Pacific. Steady development of the renewable energy sector is likely to be a key feature of the Asia Pacific power generation market in the coming years, as the region lies closer to the equator than either North America or Europe and thus has significant potential in terms of wind and solar power generation.
The report takes a close look at the competitive landscape of the global power generation market by profiling leading players such as ABB, John Wood Group plc, Alstom SA, Siemens AG, The AES Corporation, and Wartsila.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.