As per Zion Market Research, the — global top 10 power generation technologies market was valued at USD 70 billion in 2019 and is predicted to cross USD 106 billion by 2026. Factors such as rise in electricity usage and subsequent spending in power creation capacity, and modernization of current power creation infrastructure are boosting the market all over the world.
Some of the major companies in the top 10 power generation technologies market comprise Cummins, Inc., Siemens AG, Alstom S.A., Mitsubishi Heavy Industries, Ltd., Caterpillar, Inc., Ansaldo Energia S.p.A., among others.
Small Wind Market Is Predicted To Develop At The Quickest Speed In The Coming Period
The global market for top 10 power generation technologies is divided into micro turbines, gas engines, steam turbines, nuclear power reactors, gas turbines, gas & diesel generators, micro CHP, concentrating solar power, and small wind.
Based on technology, the small wind market is predicted to develop at the quickest speed in the coming period. Developing nations such as Canada and the U.S. provide high growth avenues to the small wind market. Factors such as motivating environment policies, plummeting prices of wind energy creation, and rising standardization might impart development in the small wind market.
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Micro CHP Segment Is Predicted To Develop At The Second Quickest Speed In The Coming Period
After the small wind market, the micro CHP segment is predicted to develop at the second quickest speed in the coming period. Developing nations such as Canada and the U.S. provide high growth avenues to the micro CHP market. Factors such as developmental government support, drop in carbon footprint, and autonomous electricity & heat creation at a lowered cost might result in development in the micro CHP market.
The Micro Turbine Market Is Predicted To Develop At A Good Speed In The Coming Years
The micro turbine market is predicted to develop at a good speed in the coming years due to factors such as rise in high reliability, energy requirement, easy availability of fuel, and goal on creating clean energy. The micro turbine market in North America is predicted to rule with a share of almost 50%.
The Concentrating Solar Power Segment Is Predicted To Develop At A Good Speed In The Coming Period
The concentrating solar power segment is predicted to develop at a good speed in the coming period. Factors such as efforts to lower air pollution, increasing environmental issues over carbon emissions, policy support from governments to power acceptance of renewable techs, and the capability of supplying dispatchable energy might necessitate market development.
The Gas Generator Sales Market Is Predicted To Develop At A Good Speed In The Coming Years
The gas generator sales market is predicted to develop at a good speed in the coming years. Factors such as increasing requirement for reliable and uninterrupted power supply, developing healthcare infrastructure, increasing requirement for IT facilities & data hubs, and quick urbanization in developing nation might power the requirement for gas generators.
The global Top 10 Power Generation Technologies Market is segmented as follows:
By Power Generation Technologies
Nuclear Power Reactors
Concentrating Solar Power
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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