San Francisco, California, January 15, 2018: A report by TMR Research bearing the title, “Top 10 Power Generation Technologies Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” delves into the current and future scenario of the market for top 10 power generation technologies. Gas turbines, nuclear power reactors, micro CHP, concentrating solar power, micro turbines, gas engines, gas and diesel generators, steam turbines, and small wind comprise some of the technologies of power generation. For instance, in a bid to produce electricity, steam turbines make use of thermal energy harnessed from fuel so as to generate steam. The thermal energy, thus produced, is converted into kinetic energy in the steam turbine. This kinetic energy is then again transformed into electrical energy.
Likewise, by gas turbine we refer to a combustion engine which converts liquid fuels or natural gas to mechanical energy. This mechanical energy is then again changed into electrical energy.
Following the ever expanding population of the world, the market for top 10 power generation technologies are experiencing immense growth in its demand. Such growth in demand is owing to the swelling population of the world. In addition to that, fast pace of industrialization and urbanization has augmented the requirement for electricity substantially. Such increased demand has attracted more investment in various technologies of power generation. Besides, various other factors such as modernization of the infrastructure of power generation are stimulating the said market.
There are, however, some factors that are restraining the growth of the market. Infrastructural worries, disparity of price across various regional markets, and supply security mar the growth of the top 10 power generation technologies.
Small wind market amongst all of the top 10 power generation technologies is poised to surpass all other technologies when it comes to growth rate in the near future. North American countries Canada and the U.S. offer substantial opportunities for growth to the market of small wind. Such high growth is due to increasing standardization, policy that encourage small wind segment, and tanking cost that is associated with generation of wind energy.
Furthermore, the market for micro CHP is prophesized to follow the market for small wind while considering the rate of growth. Yet again, Canada and the U.S. make an offering of vast opportunities of growth opportunities to the said market. In a bid to reduce footprints of carbon, policies that would encourage the micro CHP market are made by the government. Furthermore, electricity and autonomous heat generation at a cheaper rate are also expected to fuel the market.
Taking regional segmentations into consideration, the region of Asia-Pacific is one of the leading segments for many of the superior technologies of power generation. This is mostly owing to the increased consumption of electricity that leads to more investment in the capacity of power generation. This is especially in the rapidly increasing population of the developing countries such as China, India and so on. China, amongst these two countries, is the primary market driver due to its expanding and fast growing industrial segment. It has made China the most lucrative markets.
In a bid to evaluate the prevailing competition in the market for top 10 power generation technologies, the research study has profiled some eminent names like Cummins, Inc., Mitsubishi Heavy Industries, Ltd, Alstom S.A., Siemens AG, Ansaldo Energia S.p.A, and Caterpillar, Inc.
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