“The small wind market is expected to reach USD 954.7 million by 2021”
The small wind market is expected to grow from an estimated USD 405.0 million in 2016 to USD 954.7 million by 2021. Energy consumption is increasing rapidly worldwide and factors such as rising population and economic growth in emerging countries can create a demand-and-supply gap in the energy sector over a period of time. The market for small wind is majorly driven by encouragement to environmental policies to use renewable sources, increased standardization of technology to help manufacturing companies attain economies of scale, and reduction in the cost of wind energy generation.
“The micro CHP market would grow at a faster pace during the forecast period”
The market for micro CHP is expected to grow at a significant pace during the forecast period, second only to the small wind market. The two North American countries where the sector is gradually developing are the U.S. and Canada. The main factors driving the U.S.’s micro CHP market are government support and increased consumer awareness. The North American market could be a game-changer in the future as it not only has the potential for huge sales volumes, but, it also has high per capita energy consumption. Factors such as electricity generation at reduced cost would impart growth in the micro CHP market.
“Asia-Pacific is the largest market for most of the power generation technologies market”
Asia-Pacific is the largest market for most of the power generation technologies market. The largest economies in Asia-Pacific, such as China and India, have the most potential for the power generation technologies market, with both countries projected to account major share of global power generation technologies over the next five years.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitate information, as well as, assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 25%, Tier 2- 25%, and Tier 3- 50%
- By Designation: C-Level- 37%, Director Level- 25%, and Engineer Level- 38%
- By Region: Asia-Pacific- 38%, EMEA 37%, and Americas 25%
Note: The tier of the companies has been defined on the basis of their total revenue, as of 2015: Tier 1 => USD 10 billion, Tier 2 = From USD 1 billion to USD 10 billion, and Tier 3 =< USD 1 billion; and EMEA includes Europe, Middle East, and Africa
The industry’s leading players have been profiled with their recent developments and other strategic activities. These include Siemens AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), General Electric Company (U.S.), Ansaldo Energia S.p.A (Italy), Caterpillar, Inc. (U.S.), Cummins, Inc. (U.S.), Yanmar Co., Ltd. (Japan), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Shanghai Electric Group Co., Ltd. (China), Harbin Electric International Company Limited (China), Abengoa Solar, S.A. (Spain), Capstone Turbine Corporation (U.S.), Northern Power Systems (U.S.), Wind Energy Solutions (The Netherlands), BDR Thermea Group (The Netherlands), Viessmann Group (Germany), among others.
The power generation technologies covered in this study include steam turbines, micro turbines, gas turbines, gas engines, micro CHP, nuclear power reactors, small wind, diesel and gas generators, and concentrating solar power. The study aims at estimating the market size and future growth potential of this market across different regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, business overviews, and recent developments.
Why buy this report?
- The report identifies and addresses key markets for power generation technologies, which is useful to suppliers and OEMs to review production and distribution plans.
- The report includes analysis of key markets of power generation technologies. It also analyzes historical trends and forecasts till 2021, assisting in strategic decision making.
- It presents a competitive landscape by analyzing recent market developments such as key contracts, new product launches, expansions, and mergers & acquisitions by the key global market players. It helps understand competitive strategies and plan respective initiatives.