According to
the study, ‘Deep Dive: Power Generation Market’, the companies that
are present dominantly in this area of operations include General Electric and Siemens AG. These companies hold
majority share in the market due to their long presence in the market which has
resulted in them possessing huge financial capabilities. The developing markets
such as Africa and Asia are expected to show high degree of growth rate due to
the increasing economic prosperity as well as improving standard of living
which will shoot up the demand for power in the respective regions.
Consequently, the consumption in the developed markets shall be slow due to
already existing upgraded technologies as well as more competition.
There is no doubt that power is a key driver for the human
industry. In order to ensure keeping up with our current way of life, and
ensure future economic prosperity, power generation is a major industry that
needs to flourish in order to accommodate the growing demand. Due to the strong
influence, power industry possesses on the social as well as economic life,
power supply needs to maintain strict quality standards that shall ensure not
just overall effectiveness but also cost efficiency. The power sector has been
ensured with quality up to date technology as well as a sound legal framework
which was enough for companies to ensure their profitability. Due to the great
degree of pressure that is being exerted by socio-economic factors, companies
have to regularly keep up with the dynamic environment ensuring that no
objective is left behind. There are 2 types of markets. The developed markets
are characterized by slow growth rates but high degree of competiveness (EU and
USA). The second type of market is one in which the growth rate of the industry
is high however, the degree of competitiveness is low (Africa, Asia). The
companies that operate in this industry are pressurized to follow strict legal
norms and bring in technological up gradation in their technique of production
in order to ensure energy generation that does not cause a negative impact on
the environment.
Over
the last few years, companies have started to generate electricity via
renewable forms of energy. This is because most of the governments across the
world have begun to incentivize the generation of power via renewable forms of
energy which makes it more cost competitive. Also, the adoption rate of this
form of energy generation is quite high. This is due to the fact of decreasing
environmental quality and increasing awareness which has led to a high rate of
adoption.
The
renewable forms of energy generation are expecting to witness a strong growth
in the upcoming years which can be a huge attraction for many companies. The
competition over the years is expected to increase. The companies shall be able
to gain major market share if they are able to produce energy from renewable
forms of energy as they are most competitive and environment friendly thus more
acceptable. The overall growth rate has remained high for the past few years
which been expected to be carried to the upcoming years as well.
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Contact
Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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