Power Generation Technologies Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The market is segmented by Type (Steam Turbine, Gas Turbine, Hydro Turbine, Wind Turbines, Solar Photovoltaic (PV), and Others), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

Power Generation Technologies Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Power Generation Technologies Market Size

Power Generation Technologies Market - Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 5.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Power Generation Technologies Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Power Generation Technologies Market Analysis

The Power Generation Technologies Market is expected to register a CAGR of greater than 5.5% during the forecast period.

  • With rapid expansion during 2015-2019, solar PV is expected to be the fastest-growing power generation technology during the forecast period.
  • With an increasing population over the years, it is expected that the global population would reach around 9.8 billion, and about 7 billion people are expected to live in urban areas by 2050. An increase in urbanization is certain to increase the demand for power. Moreover, in-line with the Paris Agreement, countries around the globe are concentrating more on renewable technologies to meet the rising demand for power. For instance, China is expected to increase the share of renewable energy in its energy use to nearly 67% in 2050. In European Union, the share is expected to grow to 70% in 2050. Thus, an increase in demand for renewable technology is obvious to increase the demand for technologies such as solar PV, wind, hydro power over the years, which is expected to create an opportunity for the market to grow in the near future.
  • With significant number of power generation plants, Asia-Pacific is expected to dominate the market during the forecast period.

Power Generation Technologies Industry Overview

The power generation technologies market is fragmented. Some of the key players in the market include General Electric Company, Siemens AG, Mitsubishi Hitachi Power Systems Ltd, Andritz AG, Suntech Power Holdings Co. Ltd., Vestas Wind Systems A/S, JinkoSolar Holding Co. Ltd, Trina Solar Ltd, JA Solar Holdings Co. Ltd, and Suzlon Energy Ltd among others.

Power Generation Technologies Market Leaders

  1. General Electric Company

  2. Siemens AG

  3. Mitsubishi Hitachi Power Systems Ltd

  4. Andritz AG

  5. Suntech Power Holdings Co. Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
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Power Generation Technologies Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2025
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitute Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Steam Turbine
    • 5.1.2 Gas Turbine
    • 5.1.3 Hydro Turbine
    • 5.1.4 Wind Turbine
    • 5.1.5 Solar Photovoltaic (PV)
    • 5.1.6 Others
  • 5.2 Geography
    • 5.2.1 North America
    • 5.2.2 Europe
    • 5.2.3 Asia-Pacific
    • 5.2.4 South America
    • 5.2.5 Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 General Electric Company
    • 6.3.2 Siemens AG
    • 6.3.3 Mitsubishi Hitachi Power Systems Ltd
    • 6.3.4 Andritz AG
    • 6.3.5 Suntech Power Holdings Co. Ltd
    • 6.3.6 Vestas Wind Systems A/S
    • 6.3.7 JinkoSolar Holding Co. Ltd
    • 6.3.8 Trina Solar Ltd
    • 6.3.9 JA Solar Holdings Co. Ltd
    • 6.3.10 Suzlon Energy Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Power Generation Technologies Industry Segmentation

The power generation technologies market report includes:

Type Steam Turbine
Gas Turbine
Hydro Turbine
Wind Turbine
Solar Photovoltaic (PV)
Others
Geography North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Power Generation Technologies Market Research FAQs

What is the current Power Generation Technologies Market size?

The Power Generation Technologies Market is projected to register a CAGR of greater than 5.5% during the forecast period (2025-2030)

Who are the key players in Power Generation Technologies Market?

General Electric Company, Siemens AG, Mitsubishi Hitachi Power Systems Ltd, Andritz AG and Suntech Power Holdings Co. Ltd. are the major companies operating in the Power Generation Technologies Market.

Which is the fastest growing region in Power Generation Technologies Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Power Generation Technologies Market?

In 2025, the Asia Pacific accounts for the largest market share in Power Generation Technologies Market.

What years does this Power Generation Technologies Market cover?

The report covers the Power Generation Technologies Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Power Generation Technologies Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Power Generation Technologies Industry Report

Statistics for the 2025 Power Generation Technologies market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Power Generation Technologies analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.