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(IT-NEWSWIRE.COM, August 23, 2021 ) Market Overview
Market Growth
The Global Power generation market is snowballing due to several factors such as increasing demand for electricity from different end-user applications, increasing adoption of smart grid technologies in developing countries to improve efficiency and reliability and rising economic growth globally.
Some of the technologies used for power generation includes Diesel & Gas Generators, Micro Turbines, Steam & Gas Turbines, Gas Engines, Nuclear Power Reactors, Small Wind, Concentrating Solar Power and others.The market is segmented by sources of Fossil Fuels, Oil, Natural Gas, Nuclear Energy, Renewable Sources (Hydro, Solar, Wind, Others), and Other sources.
To reduce the emission of polluting gases, the government have taken some initiatives to use renewable sources for power generation. Also, renewable energy technologies are monitored with more improvised control processes which result in increasing adoption of renewable sources for power generation.
Segmentation
By Application
Industrial
Residential
Commercial
Others
By Source
Fossil Fuels
Oil
Natural Gas
Nuclear Energy
Renewable Sources (Hydro, Solar, Wind, Others)
Other sources
By Equipment
Diesel & Gas Generators
Turbines
Engines
Others
Market Analysis
Based on application, the market is segmented into Industrial, Residential, Commercial, and Others.
Geographically, the market is segmented into North America, Asia-Pacific, Europe, South America, and RoW. Asia-Pacific is dominating the global power generation market due to increasing demand for advanced power generation & distribution systems and more potential sources such as wind and solar energy for power generation as this region lies near to the equator.
Some of the recent developments in the industry include:In 2017, American energy firm AES Corporation and German’s firm Siemens formed a joint venture to serve the rapidly growing energy storage market.
Related Topic's
Power Generation EPC Market, Distributed Power Generation Market, Hydrogen Storage Market, LNG Storage Tank Market, Wind Turbine Market
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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