Expansion Power Generation Equipment Market size is estimated to be USD 130 Billion in 2024 and is expected to reach USD 200 Billion by 2033 at a CAGR of 5.5% from 2026 to 2033.
In 2022, the global expansion power generation equipment market was valued at $110.4 billion and is projected to reach $173.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2032. Regionally, Asia Pacific held a significant share, accounting for less than half of the global market in 2022, and is expected to maintain its dominance during the forecast period. North America and Europe also contributed substantially, with North America accounting for 30% and Europe holding 25% of the market in 2023. Latin America and the Middle East & Africa each contributed 5% to the market during the same period. The markets growth is driven by the increasing demand for decentralized power generation and the rise in industrialization and urbanization. The Asia Pacific region, in particular, is witnessing rapid advancements in power generation technologies, including advanced gas turbines, combined cycle power plants, and energy storage systems, aimed at enhancing energy efficiency and reducing emissions. The utility segment led the market in 2022, accounting for more than two fifths of the global revenue, driven by the transition towards cleaner and more sustainable energy sources.
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Toshiba
Chiyoda Corporation
Hitachi
PBS Group
Cummins
Siemens
Wärtsilä
Mitsubishi Power
Tokyo Electric Power
GE
Cryostar
Generac
Fuji Electric
Kaishan Group
Shanghai Electric
Moon Environment Technology
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Expansion Power Generation Equipment Market
Thermal Power Generation Equipment
Hydroelectric Power Generation Equipment
Wind Power Generation Equipment
Solar Power Generation Equipment
Nuclear Power Generation Equipment
Conventional Technologies
Advanced Technologies
Hybrid Technologies
Smart Grid Technologies
Renewable Energy Technologies
Utility
Industrial
Commercial
Residential
Off-grid Solutions
Natural Gas
Coal
Biomass
Oil
Renewable Sources
Government and Public Sector
Private Sector
Non-profit Organizations
Utilities and Independent Power Producers
Energy Developers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Expansion Power Generation Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Expansion Power Generation Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Expansion Power Generation Equipment Market, By Type
6. Global Expansion Power Generation Equipment Market, By Application
7. Global Expansion Power Generation Equipment Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Expansion Power Generation Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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