Nuclear Fusion Global Market Report 2023 – By Technology (Inertial Confinement, Magnetic Confinement), By Fuels (Deuterium, Tritium, Helium-3, Proton Boron)– Market Size, Trends, And Global Forecast 2023-2032

Nuclear electricity refers to a clean and efficient way of boiling water to make steam, which turns turbines to produce electricity. The heat produced in the nuclear power reactor core during nuclear fission is used to boil water into steam, which converts the blades of a steam turbine. As the turbine blades turn, they drive generators that produce electricity. The main types of reactors in nuclear power generation are pressurized water reactors (PWR), fast breeder reactors (FBR), pressurized heavy-water reactors (PHWR), boiling water reactors (BWR), light water graphite reactors (LWGR), and gas-cooled reactors (GCR). The pressurized water reactor (PWR) is a form of nuclear reactor that generates energy while also propelling nuclear submarines and navy vessels. The different technologies include generation I, generation ii, generation III, and generation IV and are used by various sectors such as residential, commercial, and industrial. The global nuclear electricity market is segmented - 1) By Reactor Type: Pressurized Water Reactors (PWR), Fast Breeder Reactor (FBR), Pressurized Heavy-Water Reactor (PHWR), Boiling Water Reactor (BWR), Light Water Graphite Reactor (LWGR), Gas-Cooled Reactor (GCR) 2) By End-User: Residential, Commercial, Industrial 3) By Technology: Generation I, Generation II, Generation III, and Generation IV The global nuclear electricity market size will grow from $204.41 billion in 2022 to $217.4 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. 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 market size of the global nuclear electricity is expected to grow to $271.08 billion in 2027 at a CAGR of 5.7%. The growing demand for electricity is expected to be a key driver of the nuclear power generation market in the forecast period. This can be attributed to growing economies and rising populations, especially in developing countries such as China, India, Brazil, and some African countries. According to the International Energy Agency (2019), global electricity demand rises at 2.1% per year by 2040, twice the rate of primary energy demand. This raises electricity’s share in total final power consumption from 19% in 2018 to 24% in 2040. Both China and India will account for a major portion of this growth. According to government data, India's energy consumption increased 13.38 percent to 110.94 billion units (BU) in October 2020, mainly driven by buoyancy in industrial and commercial activities. Furthermore, the global household appliances market is expected to grow to $396 billion by 2022, supporting the demand for electricity and driving the growth of nuclear electricity market going forward. Major players in the nuclear electricity market are EDF Group, Exelon Corp., Duke Energy Corp., Enel SpA, and NextEra Energy, Inc. The power generation industry and the downstream power distribution industries are digitizing their assets and are increasingly relying on technology. The industry is becoming increasingly vulnerable to a rising number of cyber-attacks. For instance, on October 2022, Tata Power, an Indian-based electric power distribution company, suffered a cyber-attack for which the company has taken steps to retrieve and restore the systems. Global issues such as energy security, climate change, and electricity demand growth have led to an increase in the use of nuclear energy for power generation. Nuclear technology provides large amounts of power with significantly lower carbon emissions. According to the World Nuclear Association (WNA) 2020, nuclear energy now provides about 10% of the world's electricity from about 440 power reactors. Around 50 more reactors are under construction, equivalent to around 15% of the existing capacity. In 2021, nuclear plants provided 2653 TWh of electricity, up from 2553 TWh in 2020. New nuclear markets such as Bangladesh, Turkey, and Vietnam are also making progress in nuclear power plant construction. Asia-Pacific was the largest region in the nuclear electricity market in 2022. Western Europe was the second-largest region in the global nuclear electricity market share. The regions covered in the global nuclear electricity industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the nuclear electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The nuclear electricity market includes revenues earned by entities by pressurized water reactors (PWR), boiling water reactors (BWR), advanced gas-cooled reactors (AGR), light water graphite-moderated reactors (LWGR), fast neutron reactors (FNR), and operable nuclear power plants. 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 nuclear electricity market research report is one of a series of new reports from The Business Research Company that provides nuclear electricity market statistics, including nuclear electricity industry global market size, regional shares, competitors with a nuclear electricity market share, detailed nuclear electricity market segments, market trends and opportunities, and any further data you may need to thrive in the nuclear electricity industry. This nuclear electricity 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.

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 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 The global power generation market size will grow 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 size of 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. 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. 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. 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 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.

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 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 The global power generation, transmission and control equipment market size 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 analysis 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 share 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 power generation, transmission and control equipment 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 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.

A floating power plant refers to a power generator plant based on marine technology on previously installed cargo ships. These can be relocated to some other location and do not require any large site for installation. It also supplies electricity in case of floods and earthquakes. It is used to fulfill increasing power demand and supply electricity in low-infrastructure areas. The main types of floating power plant markets are floating solar power, floating wind, floating wind and wave power, floating nuclear power, and others. Floating solar power refers to the production of energy by using marine technology and renewable energy over the water bodies. The various type of power sources include non-renewable power sources and renewable power sources, and have different capacities such as 1 MW–5 MW, 5.1 MW–20 MW, 20.1 MW–100 MW, 100.1 MW–250 MW, and above 250 MW. The global floating power plant market is segmented - 1) By Type: Floating Solar Power, Floating Wind, Floating Wind and Wave Power, Floating Nuclear Power, Other Types 2) By Type of Power Source: Non-Renewable Power Sources, Renewable Power Sources 3) By Capacity: 1 MW–5 MW, 5.1 MW–20 MW, 20.1 MW–100 MW, 100.1 MW–250 MW, Above 250 MW The global floating power plant market size grew from $2.38 billion in 2022 to $2.59 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. 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 market size of the floating power plant market is expected to grow to $3.47 billion in 2027 at a CAGR of 7.6%. The rising demand for energy across the globe is expected to propel the growth of the floating power plant market going forward. Energy refers to the energy derived from electrical potential energy or kinetic energy, which helps in the working of a machine. Due to the increase in industrialization, there is an increase in demand for energy-floating power plants that help in managing the free flow of electricity in industries. For instance, according to the International Energy Agency (IEA), a France-based intergovernmental organization, in April 2021, the global electricity demand had increased by 1,000 terawatt hours (TWh), showing a global increase of 4%. Therefore, increasing energy consumption is driving the growth of the floating power plant market. Major players in the floating power plant market are MAN Diesel & Turbo SE, Mitsubishi Corporation, General Electric Company, Siemens AG, Caterpillar Inc., Ciel & Terre International, Floating Power Plant A/S, Principle Power Inc., Upsolar Inc., Vikram Solar Ltd., SeaTwirl AB, Ideol, Wartsila, Yingli Solar, Equinor ASA, Kawasaki Heavy Industries Ltd., Karadeniz Holding, and Kyocera Corporation. Technological advancement is a key trend gaining popularity in the floating power plant market. Major companies operating in the floating power plant sector are focused on introducing new technologies to sustain their position. For instance, in September 2021, Linxon, a Switzerland-based power generation company, launched advanced floating substation technology. This technology helps to minimize the carbonization of the electricity grid and can potentially generate electricity. Also, this floating substation technology helps in generating renewable electricity. In February 2020, Marubeni Corporation, a Japan-based company specializing in electrical industrial plant businesses, acquired Chenya Energy Co Ltd for an undisclosed amount. This acquisition helps Marubeni Corporation to increase its floating solar power business and renewable energy development capabilities. Chenya Energy Co., Ltd. is a Taiwan-based company that operates in the fields of the development of floating solar power plants and construction. Europe was the largest region in the floating power plant market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the floating power plant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the floating power plant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The floating power plant market consists of revenues earned by entities by providing solutions and services for power generation designing, installation, and maintenance to provide a stable, quickly accessible power supply to areas in acute need of electricity. 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 floating power plant market research report is one of a series of new reports from The Business Research Company that provides floating power plant market statistics, including floating power plant industry global market size, regional shares, competitors with a floating power plant market share, detailed floating power plant market segments, market trends and opportunities, and any further data you may need to thrive in the floating power plant industry. This floating power plant market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Waste heat to power refers to the process of capturing heat discarded by an existing thermal process and using that heat to generate power. Waste heat to power reduces pollution, equipment size, and auxiliary energy consumption. The main types of products in waste heat to power are the steam Rankine cycle, the organic Rankine cycle, and the Kalina cycle. The steam Rankine cycle is a simplified thermodynamic cycle of a constant-pressure heat engine that turns some heat into mechanical work. Heat is provided externally to a closed loop in this cycle, which typically uses water (in both liquid and vapor phases) as the working fluid. The various applications include preheating, steam, and electricity generation, among others, and are used by several sectors such as petroleum refining, cement industry, heavy metal production, chemical industry, pulp and paper, food and beverage, glass industry, and others. The global waste heat to power market is segmented – 1) By Product: Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle 2) By Application: Preheating, Steam And Electricity Generation, Other Applications 3) By End Use: Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry, Pulp And Paper, Food And Beverage, Glass Industry, Other End Users The global waste heat to power market size will grow from $15.83 billion in 2022 to $18.48 billion in 2023 at a compound annual growth rate (CAGR) of 16.7%. 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 market size of global waste heat to power is expected to grow to $30.36 billion in 2027 at a CAGR of 13.2%. The growth in the industrial sector is expected to propel the growth of waste heat to power market going forward. Capital investment, labour input, financial investment, and technological innovation are the major factors influencing industrial growth. Non-metallic mineral production, petroleum refining, and heavy metal production are some of the key application areas with considerable waste heat recovery potential. For instance, according to the U.S. Energy Information Administration, in the year 2020, the industrial sector accounted for 36% of the total United States' end-use energy consumption and 33% of total U.S. energy consumption. Also, according to new Central Statistics Office data, factory output in the non-metallic mineral products industry increased by 8.0% in February 2020 compared to February 2019. The non-metallic mineral products industry grew faster than overall industrial output, which increased by 4.5%. Nonmetallic mineral products accounted for 4.09% of total industrial production (IIP) and contributed 0.33% to IIP growth. Therefore, the growth in the industrial sector is driving the growth of waste heat to power market. Major players in the waste heat to power market are Verizon Connect, Spireon, Geotab, TomTom, Teletrac Navman, Cartrack, CalAmp, Teltonika, Orbcomm, Xirgo Global, Laipac, Trackimo, AirIQ, Fleetmatics, Mix Telematics, Trimble, Actsoft, Ctrack, and Masternaut. The development of lead-free (PB) materials for waste power recovery is a key trend in the waste heat to power market. Up till 2020, lead was the only major element used in waste heat recovery systems, which is limiting the mass applications of waste heat. As a result, scientists are working on novel lead-free materials to recover waste heat with seemingly different qualities into a single material: the strong electrical conductivity of metals, the great thermoelectric sensitivity of semiconductors, and the poor thermal conductivity of glasses. For instance, in February 2021, scientists from the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), an autonomous institution of the Department of Science and Technology (DST), Government of India, discovered a lead-free material called Cadmium (Cd) doped Silver Antimony Telluride (AgSbTe2) that can efficiently recover electricity from waste heat, signalling a paradigm shift in the thermoelectric puzzle. In February 2021, Siemens Energy AG, a Germany-based energy company, signed an agreement with TC Energy Corporation for the commissioning of a waste heat-to-power plant installation in Alberta, Canada, for an undisclosed amount. As part of the deal, Siemens Energy will build and run the facility, with the possibility of TC Energy regaining ownership at a later date. The facility would capture waste heat from a gas-fired turbine operating at a pipeline compression station and further convert it into emissions-free power. The electricity generated will be fed back into the system, resulting in an estimated 44,000 tonnes of greenhouse gas reductions each year. TC Energy Corporation is a Canada-based natural gas company. Europe was the largest region in the waste heat to power market in 2022. The regions covered in the waste heat to power market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the waste heat to power market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The waste heat to power market includes revenues earned by entities by providing services such as ORC, steam cycle, and cascaded steam-organic cycle. The waste heat to power 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 waste heat to power market research report is one of a series of new reports from The Business Research Company that provides waste heat to power market statistics, including waste heat to power industry global market size, regional shares, competitors with a waste heat to power market share, detailed waste heat to power market segments, market trends and opportunities, and any further data you may need to thrive in the waste heat to power industry. This waste heat to power 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.

Renewable energy refers to energy produced from natural energy sources, such as the sun and wind that are constantly replenished. Renewable energy is used for space and water heating and cooling, electricity generation, and transportation. Renewable energy causes less global warming, improved public health, inexhaustible energy, stable energy prices, reliability, and resilience. The main type of renewable energy is solar energy, wind energy, bioenergy, hydro energy, and geothermal energy. The solar energy type of renewable energy is an energy form that uses solar energy for powering a home, building, water heating, and solar lights, that comes in various capacities such as 0-1,000kwh, 1,100-5,000kwh, more than 5,000kwh, used by residential, commercial, industrial and utility. The global renewable energy market is segmented – 1) By Type: Solar Energy, Wind Energy, Bio Energy, Hydro Energy, Geothermal Energy 2) By Capacity: 0-1,000KWH, 1,100-5,000KWH, More than 5,000KWH 3) By End User: Residential, Commercial, Industrial, Utility The global renewable energy market size will grow from $952.85 billion in 2022 to $1035.69 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 market size of global renewable energy is expected to grow to $1404.48 billion in 2027 at a CAGR of 7.9%. An increase in power consumption is expected to propel the growth of renewable energy. Global energy demand is rising due to increased industrial activity and technological advancements in developing and developed countries. Additionally, there is a rapid increase in energy consumption because of the growing world population, which implies growing energy requirements. Due to such an increase in the use of power, there is a need to produce renewable energy because of its improved energy security and reduced risk of fuel spills that emits no greenhouse gases from fossil fuels and decreases certain types of air pollution. For instance, According to Enerdata, the world energy, and climate statistics, the 2022 report states that global electricity consumption increased by +5.5% in 2021, after contracting by 0.7% in 2020 owing to the COVID-19 crisis. Furthermore, according to International Energy Agency, an intergovernmental organization, worldwide electricity demand will increase by about 5% in 2021 and 4% in 2022. Therefore, an increase in power consumption will drive the renewable energy market. Major players in the renewable energy market are ABB Ltd., Acciona Energia SA, EDF SA, Enel Group, General Electric Energy, Geronimo Energy, Innergex, Tata Power Company Limited, Xcel Energy Inc., Invenergy, Siemens Gamesa, First Solar Inc., Vestas Wind Systems AS, Duke Energy Corporation, National Grid Renewables, Iberdrola SA, Jinko Solar Holding Co Ltd., Canadian Solar Inc., and Orsted A/S. Technological advancement is a key trend gaining popularity in the renewable energy market. Renewable technologies are recognized as green energy sources. The effective utilization of these resources minimizes environmental consequences, produces minimal secondary waste, and is sustainable in light of present and projected economic and societal needs. Recently, the market has witnessed the use of bio-mass energy and dual-module solar systems that can significantly reduce greenhouse gas emissions. Major companies in the renewable energy market are advancing in their new technologies and research and development to sustain their market position. For instance, In March 2022, Gautam Solar, an India-based Solar panels manufacturer, launched a G-2X dual-generation monocrystalline technology solar modules. This Gautam Solar module provides power from both the front and back of the module, making it ideal for use in rooftop and ground-mounted solar power plants, creating an additional 10%- 30% extra power generation. The solar module's combined front and back efficiency go up to 25.72%. This G-2X mono series will save BOS and installation costs while increasing electricity generation by up to 30% in the same available space. In February 2022, Chevron Corporation, a US-based energy industry company, acquired Renewable Energy Group, Inc., for $3.15 billion. This acquisition enhances REG's rising renewable fuel production and superior feedstock capabilities combined with Chevron's significant production, distribution, and commercial marketing. Renewable Energy Group, Inc., is a US-based biodiesel production company. Asia-Pacific was the largest region in the renewable energy market in 2022. North America is expected to be the fastest-growing region in the renewable energy market share during the forecast period. The regions covered in the renewable energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the renewable energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The renewable energy market includes revenues earned by entities by nuclear energy, biomass and bioenergy, and applied energy. 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 renewable energy market research report is one of a series of new reports from The Business Research Company that provides renewable energy market statistics, including the renewable energy industry global market size, regional shares, competitors with a renewable energy market share, detailed renewable energy market segments, market trends and opportunities, and any further data you may need to thrive in the renewable energy industry. This renewable energy 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.

Biomass electricity refers to the electricity generated by a process that involves the burning of biomass for the generation of product gas or syngas for the production of electricity. Producer gas is a combustible gas mixture of carbon monoxide, hydrogen, carbon dioxide, methane, and nitrogen. The gasification process uses heat, pressure, and partial combustion, which takes place when the air supply (O2) is inadequate for the combustion of biomass. The main types of feedstock in biomass electricity are solid biomass, biogas, municipal solid waste, and liquid biomass. Solid biomass, also known as feedstock, consists of solid or compacted organic materials in the form of pellets that discharge stored energy through combustion and burning. The different technologies include anaerobic digestion, combustion, co-firing, gasification, landfill gas, and others. They are used by various sectors such as households, industrial sectors, government sectors, and others. The global biomass electricity market is segmented - 1) By Feedstock: Solid Biomass, Biogas, Municipal Solid Waste, Liquid Biomass 2) By End-User: Households, Industrial Sector, Government Sector, Others 3) By Technology: Anaerobic Digestion, Combustion, Co-Firing, Gasification, Landfill Gas The global biomass electricity market size will grow from $41.44 billion in 2022 to $45.17 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. 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 market size of the global biomass electricity is expected to grow to $61.32 billion in 2027 at a CAGR of 7.9%. The increasing government support through various government subsidies and policies is driving the growth of the biomass electricity market. Due to the growing concerns about climate change and the rising levels of greenhouse gases in the atmosphere resulting from the burning of fossil fuels such as coal and oil, new government policies are being framed to encourage sustainable power generation. For instance, in India, the Ministry of new and renewable energy under its National Biogas and Manure Management Programme (NBMMP) provides subsidies for setting up family-type biogas plants mainly for rural and semi-urban households. The program is implemented by the State Nodal Departments/State Nodal Agencies and Khadi and Village Industries Commission (KVIC), Biogas Development and Training Centers (BDTCs) and involves subsidies of up to Rs. 17,000 ($230) for setting up biogas plants. Major players in the biomass electricity market are Enviva, Pinnacle Renewable Energy Group, Pacific BioEnergy Corporation, Acciona Sa, Dong Energy A/S, Acciona Sa, Ameresco Inc., E.On SE, Graanul Invest Group, RWE Innogy, Lignetics, Orsted A/S, Oulun Energia Oy, NTPC, Skive Fiernvarme, and Babcock & Wilcox Enterprises Inc. The growing competition from alternative energy sources such as solar, wind, and geothermal is expected to limit the biomass electricity market. Unlike wind power plants, biogas plants are affected by cold climates. The digesters in a biogas plant require heat energy to maintain a constant biogas supply. The optimal temperature for bacteria to digest the waste product is around 37°C. At temperatures below 37°C, the digesters require additional heat energy to maintain a constant biogas supply. Solar and wind energy plants use raw resources which are available in abundance, whereas biogas production is only possible in rural areas where raw materials such as agricultural waste, manure, green waste, or food waste are in constant supply. Thus, the popularity and ease of maintaining alternative energy sources such as solar, wind, and geothermal restraints the growth of the biomass electricity market. Companies in the biomass electricity market are developing new methods to produce electric power through new hybrid biogas plants by combining biogas with other forms of renewable energy sources such as solar energy. The combination of solar energy with biogas reduces the operating cost and effort required to deal with the waste products from the farms. Following suit, in 2020, Green Genius, a renewable energy company, launched a new biogas power plant in Belarus. In addition to producing green electricity, new biogas power plants will also eliminate the smell from pig farms and transform organic waste into liquid odorless fertilizer. Lithuania, Poland, Ukraine, Belarus, Spain, and Italy are the six European markets where Green Genius is creating sustainable energy (solar and biogas) projects. In 2021, ReGenerate Energy Holdings, LLC., a US-based company focusing on environmental sustainability in renewable energy, acquired Albany Green Energy. Through the acquisition, ReGenerate Energy Holdings, LLC would continue building and expanding a bioenergy business. Albany Green Energy is a US-based biomass heat-and-power facility that uses woody biomass from mill residue, forestry waste, recycling, and agricultural waste sources to provide 50 megawatts of electricity to Georgia Power. Western Europe was the largest region in the biomass electricity market in 2022. Asia-Pacific was the second-largest region in the global biomass market analysis. The regions covered in the global biomass electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the global biomass electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The biomass electricity market includes revernues earned by entities by wood and agricultural products, landfill gas and biogas, and alcohol fuels like Ethanol or Biodiesel. 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 biomass electricity market research report is one of a series of new reports from The Business Research Company that provides biomass electricity market statistics, including biomass electricity industry global market size, regional shares, competitors with a biomass electricity market share, detailed biomass electricity market segments, market trends and opportunities, and any further data you may need to thrive in the biomass electricity industry. This biomass electricity 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.

Solar energy refers to the generation of renewable energy from sunlight and conversion into electricity, either directly using photovoltaics, indirectly using concentrated solar power, or a combination of both. Photovoltaics (PV) are used to collect solar energy and convert it to usable energy in the form of electricity. The main types in the solar energy market are solar cell panels, solar cell paste, and solar silicon wafers. Solar cells are panels used to convert sunlight into electricity. Solar cell panels can be used to generate electricity to be used in residential or commercial sectors. The technology used in solar energy is photovoltaic systems and concentrated solar power systems and the types of panels are mono-crystalline thin film, and poly-crystalline. Solar energy is applied in residential and commercial and end-user are electricity generation, lighting, heating, and charging. The global solar energy market is segmented – 1) By Type: Solar Cell Panel, Solar Cell Paste, Solar Silicon Wafer 2) By Technology: Photovoltaic Systems, Concentrated Solar Power Systems 3) By Panel: Mono-Crystalline, Thin Film, Poly-Crystalline 4) By Application: Residential, Commercial 5) By End Use: Electricity Generation, Lighting, Heating, Charging The global solar energy market size will grow from $101.87 billion in 2022 to $126.82 billion in 2023 at a compound annual growth rate (CAGR) of 24.5%. 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 market size of global solar energy is expected to grow to $354.99 billion in 2027 at a CAGR of 29.3%. The increasing government initiatives to support renewable energy sources are expected to propel the growth of the solar energy market. Government initiatives include subsidies and relaxed laws for the implementation and use of solar energy. These initiatives have led to the installation of various solar projects all across the world for the production of renewable energy that is affordable to consumers. As government initiatives increase globally, there will be a significant rise in the adoption of solar energy across the world. For instance, according to the Union budget 2022-2023, India will allocate INR 4,500 crores ($0.58 billion) for the development of high-efficiency modules for solar photovoltaic cells under the PLI (Production-Linked Incentive) scheme. In addition, in 2020, Romania's Ministry of Environment allocated over USD 63.7 million for the Casa Verde Fotovoltaice (green PV home) scheme to support residential solar installations under its net metering regime. Therefore, increasing government initiatives to support renewable energy sources are expected to drive the growth of the solar energy market. Major players in the solar energy market are Kaneka Corp, Acciona Energia SA, Abengoa Solar SA, Bright Source Energy Inc., Tata Power Solar, Wuxi Suntech Power Co Ltd., Sunpower Corporation, Canadian Solar Inc., Esolar Inc., Gintech Energy Corp, Trina Solar Ltd., Solar Systems LLC, United Renewable Energy Co Ltd., LONGi Green Energy Technology Co Ltd., JinkoSolar Holdings Co Ltd., Borrego Solar Systems Inc., Areva, Indosolar, Euro multivision, Bharat Heavy Electricals, Central Electronics Limited, First Solar and Yingli Solar. The development of bifacial solar cells for increased output is a key trend gaining popularity in the solar energy market. Major companies and research and development centers operating in the solar energy sector are focused on developing bifacial solar cells to meet market demand for maximum output. Bifacial solar cells absorb light from both the front and back sides of their surfaces, catching albedo light that will otherwise be wasted. Therefore, companies and research and development centers are focused on developing bifacial solar cells to maximize the output of solar energy. For instance, in August 2021, researchers from Australian National University, a public research university located in Canberra developed a new bifacial solar cell with a 96.3% bifacial factor. It is a dual-sided silicon solar cell with a front-conversion efficiency of 24.3% and a back-conversion efficiency of 23.4%, resulting in a bifacial factor of 96.3%. According to the researchers, the performance indicates an effective power output of around 29%. The bifacial solar cell will outperform the single-sided silicon solar cells and offer efficiency for solar PV projects. In March 2022, Sonnedix Power Holdings Limited, a UK-based global company specializing in the power production of solar energy acquired Sun Power Energy for an undisclosed amount. This acquisition helps Sonnedix to increase its workforce, gain a 1GW development pipeline throughout Poland, and expand its product reach to Europe. Sun Power Energy is a Poland-based company that develops solar photovoltaic modules. Asia-Pacific was the largest region in the solar energy market in 2022. The regions covered in the solar energy market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the solar energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The solar energy market includes revenues earned by entities by providing services such as stand-alone power systems (SAPS), grid-feed solar systems, and grid-connected solar systems with battery storage. The solar energy 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 solar energy market research report is one of a series of new reports from The Business Research Company that provides solar energy market statistics, including solar energy industry global market size, regional shares, competitors with a solar energy market share, detailed solar energy market segments, market trends and opportunities, and any further data you may need to thrive in the solar energy industry. This solar energy 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.