The engine, turbine, and power transmission equipment are machines including engine, turbine, and power transmission. The engine is used to move things, a turbine is used to convert rotational energy into usable work or energy and power transmission is used to transfer of mechanical energy from a prime mover to a driven machine. Commonly turbine equipment is used in the generation of electric power. The main types of engine, turbine and power transmission equipment are commercial internal combustion engines, turbine and turbine generator set units, mechanical power transmission equipment, speed changer, industrial high-speed drive, and gear. Internal combustion engines refer to the internal combustion engines that generate motive power and produce hot gas to drive a piston. The various cAsia-Pacificity includes small, medium, and large. The various end-users involved are automotive, manufacturing, industrial, and other end-users. The engine, turbine, and power transmission equipment market research report are one of a series of new reports from The Business Research Company that provides engine, turbine, and power transmission equipment market statistics, including engine, turbine, and power transmission equipment industry global market size, regional shares, competitors with an engine, turbine, and power transmission equipment market share, detailed engine, turbine, and power transmission equipment market segments, market trends and opportunities, and any further data you may need to thrive in the engine, turbine, and power transmission equipment industry. This engine, turbine, and power transmission equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global engine, turbine, and power transmission equipment market grew from $571.79 billion in 2022 to $621.6 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The engine, turbine, and power transmission equipment market is expected to grow to $837.61 billion in 2027 at a CAGR of 7.7%. The engine, turbine, and power transmission equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the engine, turbine, and power transmission equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the engine, turbine, and power transmission equipment manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Gas turbine and power generation equipment manufacturers are adopting modular turbine designs to reduce onsite work and offer short installation times. The modular turbine design is prefabricated electricity-generating equipment in a factory, packaged to reduce the timeline to construct a power plant. They are reliable and low-cost equipment to reduce construction, design, installation, and delivery times. These modular designs can be prefabricated and delivered not only in gas turbines, but also in other components of power plants such as engine modules, fuel delivery systems, emissions control equipment, heat recovery steam generator (HRSG) modules, generators, pipe racks, and other auxiliary systems. Major companies providing modular turbine designs are VESTAS, ENERCON, and GE. For instance, in July 2022, WEG launched a 7 MW wind turbine and a 172 meters rotor diameter for improving output for wind generation projects. With its Medium-Speed Geared (MSG) drive technology and full power drive, the unit can seamlessly interconnect with the electrical grid. Additionally, the new design includes modular components, such as a taller tower, to simplify logistics operations and provide an easier assembly concept . Major companies in the engine, turbine, and power transmission equipment market include Caterpillar Inc., Vestas Wind Systems A/S, Mitsubishi Heavy Industries Ltd., Siemens AG, Goldwind, Doosan Heavy Industries & Construction Co. Ltd., SKF Group, Baker Hughes Co, Cummins Inc., and Nordex SE. The Asia-Pacific was the largest region in the engine, turbine, and power transmission equipment market in 2022. Western Europe was the second largest region in the engine, turbine, and power transmission equipment market The regions covered in the engine, turbine, and power transmission equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the engine, turbine, and power transmission equipment market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The engine, turbine, and power transmission equipment market consist of sales of equipment including turbines, equipment for power transmission, and internal combustion engines (except the automotive gasoline and aircraft), among others. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global engine, turbine, and power transmission equipment market is segmented - 1) By Type: Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear 2) By Capacity: Small, Medium, Large 3) By End-Users: Automotive, Manufacturing, Industrial, Other End-Users Subsegments Covered: Diesel Powered Internal Combustion Engines, Gasoline Powered Internal Combustion Engines, Natural Gas Powered Internal Combustion Engines, Other Powered Internal Combustion Engines, Steam And Gas Turbine, Wind Turbine, Hydro Turbine, Plain Bearings, Joints, Clutches, Couplings, Pulleys, Chains And Sprockets, Other Mechanical Power Transmission Equipment

The steam turbine refers to a machine that converts thermal energy from pressurized steam and transforms it into mechanical work on a rotating output shaft. It uses heat sources such as gas, coal, nuclear, and solar to heat water at extremely high temperatures until it is converted into steam. The main parts of stream turbines are rotors and blades. The main types of plants types using steam turbines are gas, coal, nuclear, and others. The gas steam turbines use gas as a source to generate steam. Gas is used to heat water to extremely high temperatures until it is converted into steam. Steam turbines usually come in two designs, namely reaction and impulse, and have the capacities of rated power (60 MW), rated power (60–200 MW), and rated power (> 200 MW). Steam turbines use technologies such as steam cycle, combined cycle, and cogeneration and are used in end-use industries such as power, utility, and industrial. The steam turbines market research report is one of a series of new reports from The Business Research Company that provides steam turbines market statistics, including steam turbines industry global market size, regional shares, competitors with a steam turbines market share, detailed steam turbines market segments, market trends and opportunities, and any further data you may need to thrive in the steam turbines industry. This steam turbines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global steam turbine market size grew from $16.94 billion in 2022 to $17.59 billion in 2023 at a compound annual growth rate (CAGR) of 3.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The steam turbine market size is expected to grow to $21.02 billion in 2027 at a CAGR of 4.6%. The increase in focus on renewable energy is expected to propel the growth of the steam turbine market. Renewable energy, also identified as clean energy, provides consistent power supplies and fuel diversification, improving energy security and reducing the risk of fuel spills. The primary focus on renewable energy is to advance economic development, improve energy security, enhance access to power, and mitigate climate change. The increasing focus on renewable energy creates demand for steam turbines as these are a source of clean energy to produce electricity with no/less environmental impact. For instance, according to the renewable energy industry report by the India Brand Equity Foundation (IBEF), as of January 2022, India’s installed renewable energy capacity stood at 152.36 GW, accounting for 38.56% of total installed power capacity. Power generation from renewable energy sources reached 13.15 billion units (BU) in January 2022, increasing from 11.51 BU in January 2021. Therefore, increasing focus on renewable energy will drive the growth of the steam turbine market. Environmentally friendly and efficient cogeneration process is a key trend in the steam turbine market. Joint production or cogeneration or combined heat and power (CHP) is a method in which a simple cycle gas turbine generates electricity and steam and additional steam for other actions like drying. This method is being used in various steam turbines, proving much more efficient than other processes. This process recovers heat from energy loss pathways and uses it to generate electricity. The CHP method can produce electricity concurrently and useful thermal energy from a single source of fuel. For instance, in May 2020, MAN Energy Solutions, a German-based manufacturing company gave the contract for two MST050 steam turbines to employ in the operation of a CHP power plant by the German public utility company Stadtwerke Leipzig. The CHP power plant uses an environment-friendly cogeneration process to use the remaining heat for district heating networks. In February 2022, EDF, a French electric utility company announced the acquisition of American General Electric Company (GE) for an undisclosed amount. Through this deal, EDF has acquired GE’s subsidiary GE Steam Power’s activities related to the nuclear steam turbine business and aims to create a global steam turbine equipment and services provider within the EDF group. General Electric Company is a US-based company offering technologies and services primarily for nuclear and coal power plants, including steam turbines, though its subsidiary GE Steam Power. Major players in the steam turbine market are General Electric (GE) Co, Fuji Electric, Toshiba Corporation, Siemens, Arani Power Systems, Elliott Group, Doosan Škoda Power, Chola Turbo Machinery International Pvt Ltd., Mitsubishi Hitachi Power Systems, Ansaldo Energia, Bharat Heavy Electricals Limited, MAN Energy Solutions, DONGFANG TURBINE, Kawasaki Heavy Industries, Harbin Electric, AIstom SA, Toshiba JSW Power Systems Private Limited, Kessels Steam Turbines and Hyundai Heavy Industries. Western Europe was the largest region in the steam turbine market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the steam turbine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the steam turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The steam turbine market consists of sales of the steam turbine including back-pressure steam turbines, extraction steam turbines, and condensing steam turbines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global steam turbine market is segmented - 1) By Plant Type: Gas, Coal, Nuclear, Other Plant Types 2) By Capacity: Rated Power (<60MW), Rated Power (60-200MW), Rated Power (>200MW) 3) By Technology: Steam Cycle, Combined Cycle, Cogeneration 4) By Design: Reaction, Impulse 5) By End-Use Industry: Power And Utility, Industrial

The wind turbine refers to a power-generating device that has been driven by the kinetic energy of the wind. A wind turbine turns wind energy into electricity using the aerodynamic force of the rotor blades, which work like an airplane wing or helicopter rotor blade. When wind flows across the blade, the air pressure on one side of the blade will decrease.  The main types of wind turbines are the rotator blade, gearbox, generator, nacelle, and others. Rotor blades are the most important parts of a wind turbine for the performance and cost of the wind power system. The shape of the rotor blades has a direct impact on performance as it will determine the conversion of kinetic energy related to the wind to mechanical energy. The axis of a wind turbine is horizontal and vertical and can be deployed onshore and offshore. They can be grid-connected or stand-alone for industrial, commercial, residential, and utility applications.  The wind turbine market research report is one of a series of new reports from The Business Research Company that provides wind turbine market statistics, including wind turbine industry global market size, regional shares, competitors with a wind turbine market share, detailed wind turbine market segments, market trends and opportunities, and any further data you may need to thrive in the wind turbine industry. This wind turbine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global wind turbine market grew from $79.13 billion in 2022 to $78.43 billion in 2023 at a compound annual growth rate (CAGR) of 9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wind turbine market size is expected to grow to $104.50 billion in 2027 at a CAGR of 7.4%. Increasing demand for renewable energy sources is contributing to the growth of the wind turbine market. A renewable energy source refers to an energy source that is repeatedly replenished without running out. Most of this energy will come from fossil fuels like coal, oil, and natural gas. The wind is a renewable energy source. Overall, using wind to produce energy has fewer effects on the environment than other energy sources. Wind turbines will not release emissions that will pollute the air or water and they do not require water for cooling. Wind turbines will also reduce the amount of electricity generation from fossil fuels, which results in lower total air pollution and carbon dioxide emissions. For instance, according to IEA data 2021, Paris-based autonomous intergovernmental organization, renewable energy use increased by 3% in 2020 as demand for all other fuels declined. Moreover, the amount of electricity generated from renewables is set to increase too by 8% in 2021 and more than 6% in 2022. Increasing demand for renewable energy sources drives the growth of the wind turbine market. Technological enhancements are a key trend gaining popularity in the wind turbine market. The technology on the offshore direct drive platform allows for the re-use of most components from previous generations. In September 2022, Vestas, a Danish manufacturer of wind turbines, launched an onshore wind turbine tower with a hub height measuring 199 meters, the world’s tallest onshore tower. It is designed to be used by Vestas’ V172-7.2MW turbine. In January 2020, Siemens Gamesa, a Germany-based company that manufactures wind turbines and provides onshore and offshore wind services acquired Senvion for an undisclosed amount. This acquisition of Senvion Siemens Gamesa Renewable Energy’s Service Unit will strengthen its competitive position in Europe by adding approximately 9.0 GW serviced fleet and operations in 13 countries, and by increasing the total serviced fleet to approximately 69 GW globally. Senvion is a Germany-based manufacturer of wind turbines. Major players in the wind turbine market are Enercon GmbH, Gamesa, General Electric, Goldwind, Guodian United Power Technology Company Ltd., Ming Yang, Sinovel Wind Group Co Ltd., Suzlon Energy Ltd., Vestas Wind Systems A/S, Nordex SE, Senvion, Northern Power Systems, Clipper, Bergey, Impsa, Hitachi Ltd., Vergnet, Xinjiang Goldwind Science And Technology Co Ltd., Eaton Corporation PLC, Windey Co Ltd., Dongfang Electric Corporation, Bilfinger Offshore Wind Energy, ZF Wind Power Antwerpen, Leitwind, Wobben, and LM Windpower. Asia-Pacific was the largest region in the wind turbine market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in wind turbine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the wind turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The wind turbine market consists of sales of single blade horizontal-axis turbines, two-blade horizontal-axis turbine, three-blade horizontalal-axis turbines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global wind turbine market is segmented - 1) By Component: Rotator Blade, Gearbox, Generator, Nacelle, Other Components 2) By Axis Type: Horizontal, Vertical 3) By Location of Deployment: Onshore, Offshore 4) By Connectivity Type: Grid Connected, Stand Alone 5) By Application: Industrial, Commercial, Residential, Utility

Wind turbine casting refers to components that are cast or moulded according to specifications and then assembled to construct wind energy systems. It is designed to capture the air that flows through them in a small pocket of air, pulling the blade down and causing it to revolve. The main types of wind turbine casting are the horizontal axis and vertical axis. The horizontal axis refers to an axis that is parallel to the ground and is flat and parallel to it. The horizontal axis is utilized in wind turbine casting to create greater power while using less energy, making them excellent for usage in large wind power plants and electricity production. The different materials include copper, glass-reinforced plastic, and concrete, which are applied in onshore and offshore applications. The several end users include industrial, commercial, and residential. The wind turbine casting market research report is one of a series of new reports from The Business Research Company that provides wind turbine casting market statistics, including wind turbine casting industry global market size, regional shares, competitors with a wind turbine casting market share, detailed wind turbine casting market segments, market trends and opportunities, and any further data you may need to thrive in the wind turbine casting industry. This wind turbine casting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global wind turbine casting market size grew from $2.02 billion in 2022 to $2.17 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wind turbine casting market size is expected to grow to $2.78 billion in 2027 at a CAGR of 6.4%. Increasing demand for renewable energy is expected to boost the growth of the wind turbine casting market going forward. Renewable energy comes from natural sources that renew themselves more quickly than they are depleted. Renewable energy is becoming more popular because it reduces pollutants and greenhouse gas emissions, both of which contribute to climate change. Wind turbine casting technology is one of the essential components of renewable energy as it helps to reduce the use of fossil fuels and dangerous nuclear power. For instance, according to a report by the International Energy Agency, a France-based autonomous intergovernmental organization, the utilization of renewable energy increased by 3% in 2020. In addition, the proportion of renewable energy in the world's power generation increased from 27% in 2019 to 29% in 2020. Therefore, the rising demand for renewable energy is expected to drive the growth of the wind turbine casting market. Technological advancements have emerged as a key trend gaining popularity in the wind turbine market. Major companies operating in the wind turbine casting market are focused on innovating new technologies to sustain their position. For instance, in September 2021, Siemens Gamesa Renewable Energy, a Germany-based renewable energy company, launched the recyclable wind turbine blade. This wind turbine blade can be recycled at the end of its lifecycle. The recyclable blade recovery technique uses a moderately acidic solution to separate the materials at the end of the wind turbine's lifetime. These materials can then be recycled and repurposed in various industries such as construction, consumer goods, and vehicle manufacturing. In September 2022, SSE Renewables, a UK-based electricity generation company, acquired Siemens Gamesa Renewable Energy existing European renewable energy development platform, for $564.22 million (€580m). With this acquisition, SSE Renewables enters Southern Europe, building its successful renewables business in the UK and Ireland, where it owns and operates 4GW of renewable assets, including nearly 2GW of onshore wind, and has a secured pipeline of over 11GW of onshore wind, offshore wind, and hydro projects. Siemens Gamesa Renewable Energy is a Germany-based company that manufactures wind turbines and provides onshore and offshore wind services. Major players in the wind turbine casting market are Suzlon Energy Limited, Sinovel Wind Group Co Ltd., Mingyang Smart Energy Group Co Ltd., Vestas Co, DHI DCW Group Co Ltd., Premier Heavy Engineering Ltd., Goldwind, Enercon, SHW Casting Technologies GmbH & Co, Mingyang Smart Energy Group Co., Ltd., Global Castings, SEFORGE, SAKANA Group, Elyria Foundry Company, Juwi Holding AG, SIMPLEX, AEROVIDE GmbH, and Shandong Longma. Asia-Pacific was the largest region in the wind turbine casting market in 2022. The regions covered in the wind turbine casting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the wind turbine casting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The wind turbine casting market consists of sales of rotor hubs, axle pins, blades, generators, shaft machines, and hydraulics systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global wind turbine casting market is segmented - 1) By Type: Horizontal Axis, Vertical Axis 2) By Material: Copper, Glass-Reinforced Plastic, Concrete 3) By Application: Onshore, Offshore 4) By End-User: Industrial, Commercial, Residential

Power generation refers to electricity production using different types of technologies in order to supply power to the electrical grid for society's electrical needs. It includes electricity produced in electricity-only plants and in combined heat and power plants. The main types of power generation are hydroelectricity, fossil fuel electricity, nuclear electricity, solar electricity, wind electricity, geothermal electricity, biomass electricity, and other electricity. Hydroelectricity, also known as hydroelectric power or hydroelectric energy, is a type of energy that generates electricity by harnessing the power of moving water, such as water running over a waterfall. Energy for power generation is derived from both conventional (non-renewable) and renewable sources. The different types of grids include off-grid and on-grid, which are used by the residential, commercial, and industrial sectors. The power generation market research report is one of a series of new reports from The Business Research Company that provides power generation market statistics, including the power generation industry global market size, regional shares, competitors with a power generation market share, detailed power generation market segments, market trends and opportunities, and any further data you may need to thrive in the power generation industry. This power generation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global power generation market grew from $1,776.61 billion in 2022 to $1,913.39 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The power generation market is expected to grow to $2,543.23 billion in 2027 at a compound annual growth rate (CAGR) of 7.4%. The increasing applications of electricity in the transportation industry are expected to increase the demand for electricity, driving the power generation market. The electrification of railways in underdeveloped and developing countries; the setting up of public transportation networks such as rapid metro transit systems; and the increasing use of electric vehicles in developed countries will create significant opportunities for power generation companies in the market. For instance, to attain net-zero carbon emissions, the Office of Rail and Road (ORR) estimates that 13,000 track kilometers – or about 450km per year – of the track will need to be electrified by 2050 in the UK, and 179 km kilometers were electrified between 2020 and 2021. According to the Edison Electric Institute (EEI), annual electric vehicle sales in the USA are expected to surpass 1.2 million by 2025. Electric vehicles are expected to account for 9% of the global electricity demand by 2050. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the power generation market in 2020 as demand for utility services from industrial and commercial establishments decreased due to trade restrictions and lockdowns imposed by governments globally. Many manufacturing facilities globally halted operations to contain the spread of viruses among their workforce, thereby limiting the need for utility services such as electricity and wastewater treatment. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lock down. The outbreak has had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the power generation market will recover from the shock across the forecast period as it is a black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Electric power generation companies are using batteries to store solar energy during daylight hours. The energy storage sites consist of large lithium-ion batteries. Storage of energy in batteries is also getting more popular in other types of power generation. These batteries store enough energy to serve as a backup in case of a power shortage due to disruptions in fuel supply. They are designed to absorb solar power and feed it back to the grid. These systems minimize the need for capital-intensive power generation plants, enhance transmission and distribution efficiencies, and reduce operational costs. By 2025, the World Bank Group aims to fund 17.5-gigawatt hours (GWh) of battery storage, more than tripling the current 4-5 GWh installed across all developing nations. Major companies in the power generation market include Enel SpA, Electricite De France SA, State Power Investment Corporation, E.ON SE, Engie, Huaneng Power International, Inc., Exelon Corp, Endesa SA, Datang International Power Generation Company Limited, and Inter RAO UES. Asia-Pacific was the largest region in the power generation market in 2022. Western Europe was the second-largest region in the power generation market. The regions covered in the power generation report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the power generation market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The power generation market includes revenue earned by entities by thermal energy generated from fossil fuels, coal, petroleum, natural gas, solar thermal energy, chemical energy, and potential energy from falling water. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global power generation market is segmented - 1) By Type: Hydro Electricity, Fossil Fuel Electricity, Nuclear Electricity, Solar Electricity, Wind Electricity, Geothermal Electricity, Biomass Electricity, Other Electricity 2) By End-User: Residential, Commercial, Industrial 3) By Sources Of Energy: Conventional/Non-Renewable Source, Renewable Source 4) By Type of Grid: Off Grid, On Grid

Power generation equipment is defined as electrical machinery apparatus used in the generation of electric power. Power transmission equipment helps to transfer energy from its source to a location where it can be used for any activity. Power control equipment is defined as devices that restrict or regulate steady-state currents. The main types of power generation, transmission, and control equipment are transformer, electric motor and generator, switchgear and switchboard apparatus, relay, and industrial controls. A transformer is a device that converts electric energy from one alternating-current circuit to one or more other circuits by increasing (stepping up) or decreasing (stepping down) the voltage. The equipment is used for residential, commercial, automotive, and other applications by private and public end-use sectors. The power generation, transmission, and control equipment market research report is one of a series of new reports from The Business Research Company that provides power generation, transmission, and control equipment market statistics, including power generation, transmission, and control equipment industry global market size, regional shares, competitors with a power generation, transmission and control equipment market share, detailed power generation, transmission, and control equipment market segments, market trends and opportunities, and any further data you may need to thrive in the power generation, transmission, and control equipment industry. This power generation, transmission, and control equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global power generation, transmission and control equipment market grew from $516.88 billion in 2022 to $551.95 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The power generation, transmission and control equipment market is expected to grow to $691.37 billion in 2027 at a CAGR of 5.8%. The relay and industrial control industry is increasingly adopting SCADA (Supervisory control and data acquisition) systems to enhance process efficiency and productivity. SCADA systems are used to remotely control industrial processes such as power generation, fabrication, and refining through coded signals over cloud channels. The applications of these SCADA systems are expected to rise mainly due to their scalability, ease of upgrading, the emergence of global smart grid projects, and increased use of cloud technologies. The market is also benefitting from the high demand for energy and renewable resource projects. The SCADA systems market grew at a CAGR of 7.2% in 2020. Major companies in the power generation, transmission and control equipment market include Siemens AG, Schneider Electric SE, ABB Ltd., Nidec Corp, General Electric Company, Mitsubishi Electric Corp, Amphenol Corp, Legrand S.A., Toshiba Corporation and Hanwha. Asia-Pacific was the largest region in the power generation, transmission and control equipment market in 2022. Western Europe was the second largest region in the power generation, transmission and control equipment market. The regions covered in the power generation, transmission and control equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the power generation, transmission and control equipment market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The power generation, transmission, and control equipment market consists of sales of low-power transformers, medium-power transformers, high-power transformers, electric motors, electric generators, switchboards, switchgear, relays, industrial controls, and other power generation, transmission, and control equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global power generation, transmission and control equipment market is segmented - 1) By Type: Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, Relay And Industrial Controls 2) By Application: Residential, Commercial, Automotive, Other Applications 3) By End User Sector: Private, Public Subsegments Covered: Low Power Transformers (100 MVA to 500 MVA), Medium Power Transformers (501 MVA to 800 MVA), High Power Transformers (801 MVA to 1200 MVA), Electric Motors, Electric Generators, Switchboard, Switchgear, Relays, Industrial Controls

Electric power generation and transmission refer to the different stages of carrying electricity over poles and wires from generators to a home or a business. Electricity distribution refers to the activities of managing and operating electricity works in order to transmit electric energy from the transmission grids to electricity-using organizations and individuals. The main types of electric power generation, transmission, and distribution are electric power transmission, control, and distribution; and power generation. Power generation is referred to the process of producing electricity or the amount of electricity created by converting other sources of energy into electrical energy. The different types of operators include public operators and private operators, and the services are used by residential, commercial, and industrial users. The electric power generation, transmission, and distribution market research report is one of a series of new reports from The Business Research Company that provides electric power generation, transmission, and distribution market statistics, including electric power generation, transmission, and distribution industry global market size, regional shares, competitors with an electric power generation, transmission, and distribution market share, detailed electric power generation, transmission, and distribution market segments, market trends and opportunities, and any further data you may need to thrive in the electric power generation, transmission, and distribution industry. This electric power generation, transmission, and distribution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global electric power generation, transmission, and distribution market grew from $4,478.61 billion in 2022 to $4,796.70 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The electric power generation, transmission, and distribution market is expected to grow to $6,180.66 billion in 2027 at a compound annual growth rate (CAGR) of 6.5%. The power generation industry is expected to see increased investment activity in the forecast period. Investments in microgrid technology, renewable energy, and other advanced technologies are expected to drive the market. According to the Global Innovation Report, the total capacity of microgrids is expected to reach 1.2 GW by 2024 in North America, with an annual revenue of $4.2 billion. The United States Senate enacted a $1.2 trillion infrastructure bill in August 2021, which includes financing to accelerate clean energy initiatives. The growing investment in power generation will drive the growth of the electric power generation, transmission, and distribution markets. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the electric power generation, transmission, and distribution markets in 2020 as demand for utility services from industrial and commercial establishments decreased due to trade restrictions and lockdowns imposed by governments globally. Many manufacturing facilities globally halted operations to contain the spread of viruses among their workforce, thereby limiting the need for utility services such as electricity and wastewater treatment. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of "lockdown." The outbreak has had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the electric power generation, transmission, and distribution markets will recover from the shock across the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Electric power generation companies are increasingly using batteries to store solar energy during daylight hours. These energy-storage sites consist of large lithium-ion batteries. These batteries store enough energy to serve as a backup in case of fuel shortages. They are designed to absorb solar power and feed it back to the grid. These systems minimize the need for capital-intensive power generation plants, thereby enhancing transmission and distribution efficiencies and thus reducing operational costs. For instance, by 2025, the World Bank Group aims to fund 17.5-gigawatt hours (GWh) of battery storage, more than tripling the current 4-5 GWh installed across all developing nations. Major companies in the electric power generation, transmission, and distribution market include Electricite De France SA, Enel SpA, Tokyo Electric Power Co Holdings Incorporated, E.ON SE, Korea Electric Power Corporation, State Power Investment Corporation, Iberdrola, Exelon Corp, Engie, and Duke Energy Corp. Asia-Pacific was the largest region in the electric power generation, transmission, and distribution market in 2022. Western Europe was the second largest region in the electric power generation, transmission, and distribution market. The regions covered in the electric power generation, transmission, and distribution report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the electric power generation, transmission, and distribution market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The electric power generation, transmission, and distribution market include revenues earned by entities by providing services such as single-phase AC systems, two-phase AC systems, three-phase AC systems, and DC systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global electric power generation, transmission, and distribution market is segmented - 1) By Type: Electric Power Transmission, Control, And Distribution, Power Generation 2) By End-User: Residential, Commercial, Industrial 3) By Type of Operator: Public Operator, Private Operator Subsegments Covered: Electric Power Distribution, Electric Bulk Power Transmission And Control, Hydro Electricity, Fossil Fuel Electricity, Nuclear Electricity, Solar Electricity, Wind Electricity, Geothermal Electricity, Biomass Electricity, Other Electricity

Electric power transmission refers to the different stages of carrying electricity over poles and wires from generators to a home or a business. Electricity distribution refers to the activities of managing and operating electricity works in order to transmit electric energy from the transmission grids to electricity-using organizations and individuals. The main types of electric power transmission, control, and distribution are electric power distribution and electric bulk power transmission and control. Electric power distribution is the last phase of electric power delivery; it transports electricity from the transmission line to potential customers. These services are provided through online and offline modes. The electric power transmission, control, and distribution market research report is one of a series of new reports from The Business Research Company that provides electric power transmission, control, and distribution market statistics, including electric power transmission, control, and distribution industry global market size, regional shares, competitors with an electric power transmission, control, and distribution market share, detailed electric power transmission, control, and distribution market segments, market trends and opportunities, and any further data you may need to thrive in the electric power transmission, control, and distribution industry. This electric power transmission, control, and distribution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global electric power transmission, control, and distribution market grew from $2,702.0 billion in 2022 to $2,883.31 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The electric power transmission, control, and distribution market is expected to grow to $3,637.43 billion in 2027 at a compound annual growth rate (CAGR) of 6%. The increasing applications of electricity in the transportation industry are expected to increase the electricity demand, driving the power generation market. The electrification of railways in underdeveloped and developing countries; the setting up of public transportation networks such as rapid metro transit systems; and the increasing use of electric vehicles in developed countries will create significant opportunities for power generation companies in the market. For instance, to attain net-zero carbon emissions, the Office of Rail and Road (ORR) estimates that 13,000 track kilometers – or about 450km per year – of the track will need to be electrified by 2050 in the UK, and 179 km kilometers were electrified between 2020 and 2021. According to the Edison Electric Institute (EEI), annual electric vehicle sales in the USA are expected to surpass 1.2 million by 2025. Electric vehicles are expected to account for 9% of the global electricity demand by 2050. Hence, the growing applications of electricity in the transportation industry will further drive the electric power transmission, control, and distribution market. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the electric power generation, transmission, and distribution markets in 2020 as demand for utility services from industrial and commercial establishments decreased due to trade restrictions and lockdowns imposed by governments globally. Many manufacturing facilities globally halted operations to contain the spread of viruses among their workforce, thereby limiting the need for utility services such as electricity and wastewater treatment. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak continues to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the electric power generation, transmission, and distribution markets will recover from the shock across the forecast period as it is a black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Utility business models are continuously evolving from traditional electricity generation models to new business models such as distributed generation models to cut costs and improve transmission and distribution efficiencies. Distributed generation refers to localized power generation using solar panels and other low-cost technologies to produce electricity close to the point of consumption. Consumers are switching to more cost-effective and controlled distributed generation networks. Therefore, electric power generation companies should now focus on distributed generation rather than a centralized electricity generation model. Many companies are also using new revenue models and incentives instead of traditional cost-of-service models. For instance, New York’s (Reforming Energy Vision) REV docket is focused on distributed generation and performance-based incentives to push utilities to serve grid needs. Electric utilities in states like California, Minnesota, and Massachusetts are also involved with the REV initiative. According to the IEA's semi-annual Power Market Report, worldwide electricity demand increased by roughly 5% in 2021 and is expected to increase by 4% in 2022, owing to the global economic recovery. Major companies in the electric power transmission, control, and distribution market include Tokyo Electric Power Co Holdings Incorporated, Korea Electric Power Corporation, Iberdrola, Electricite De France SA, and E.ON SE. Asia-Pacific was the largest region in the electric power transmission, control, and distribution market in 2022. Western Europe was the second largest region in the electric power transmission, control, and distribution market. The regions covered in the electric power transmission, control, and distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the electric power transmission, control, and distribution market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The electric power transmission, control, and distribution market include revenues earned by entities by providing services such as single-phase AC system, two-phase AC system, three-phase AC system, and DC system. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global electric power transmission, control, and distribution market is segmented - 1) By Type: Electric Power Distribution, Electric Bulk Power Transmission And Control 2) By Application: Government, Commercial, Residential 3) By Distribution Channel: Online, Offline