Global installed power capacity reached 6,241 GW in 2015 from over 5,000 GW in 2010 at a compound annual growth rate (CAGR) of 4.3%. The global power industry is characterized by heavy dependence on thermal fuel sources for power generation, as major power-generating countries such as the US, China, Japan, Russia, and India have abundant coal reserves. In recent years, significant economic development in China and India and the increased use of coal resources have driven the rapid growth of thermal generation. As energy demand has continued to rise, global warming has become an even more important topic of discussion. With insecurities surrounding supplies of conventional fuels and volatile prices, renewable energy is emerging as a feasible alternative.
Renewable power will gain considerable market share amid global warming concerns and there will be a push from various countries to meet their INDCs.
Wind and solar PV will continue their growth trajectory and the cost of generation through these sources will become more competitive in future with more and more countries adopting an auction mechanism through reverse bidding. Research and development will continue to develop financially feasible energy storage for renewable sources.
The emergence of newer markets will drive market uptake for wind and solar sectors.
Economies of scale: Average turbine size in wind and solar panel wattage will continue to increase.
Price pressures and competition will drive the solar and wind companies towards inorganic growth.
- Data on current power market status and its key trends
- Information on global installed capacity (2010-2025), installed capacity share by power generating source (%), primary energy consumption (2010-2040), power consumption (2010-2025), carbon emissions (2010-2015), share of renewables in total installed power capacity (2010-2025) and average turbine size (2006-2015)
- Data on renewable energy auctions through reverse bidding process
- Information on nuclear power sector
- Major merger and acquisition (M&A) activities in the wind and solar sector
Reasons To Buy
- Identify opportunities and plan strategies by having a strong understanding of the current global power market status and its trends
- Identify information on feed-in tariffs
- Identify data on the nuclear power sector
- Comprehend major merger and acquisition (M&A) activities in the wind and solar sector
- Develop strategies based on the latest regulatory events