China National Nuclear Corporation (CNNC).Mitsubishi Hitachi Power Systems (MHPS).Major manufacturers in the global power generation market include: Such strategic initiatives are playing a crucial role in shaping the competitive scenario of the industry. To achieve these goals, companies are investing in research and development, establishing new manufacturing facilities, and improving their supply chain management. These strategies include forming partnerships, mergers & acquisitions, developing innovative products, and entering into joint ventures. Leading companies in the global power generation market are implementing various business strategies to increase their market share and broaden their product portfolios in different regions. GE and Svante are both leaders in their respective fields, and this collaboration is a major step forward in climate change mitigation. This technology helps to reduce emissions from natural gas power plants, making them cleaner and more sustainable. In 2023, GE and Svante announced a collaboration to develop carbon capture technology for power generation. Trending Now: GE and Svante Collaborate to Develop Carbon Capture Technology for Power Generation Key industry stakeholders, including power generation firms, equipment manufacturers, and utility providers, are actively contributing to the growth of this transformative landscape.Įxplore more about this report - Request for Sample and Scope of the Study Traditionally dominated by fossil fuels, the market is now propelled by growing environmental concerns and supportive government incentives, fostering the rapid expansion of renewable energy sources like solar and wind power installations.įurthermore, the market's trajectory is fueled by technological advancements, notably in smart grids and energy storage solutions. Major factors driving industry growth are the burgeoning energy demand, rapid industrialization & urbanization, and a shift in inclination towards cleaner energy sources globally. 05, 2023 (GLOBE NEWSWIRE) - As per the latest report published by Kings Research, the global Power Generation Market was worth USD 1.67 trillion in 2022 and is projected to reach USD 2.48 trillion in revenue by 2030, growing at a CAGR of 5.05% from 2023 to 2030.
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