Power Mix in Transition by Region, Technology and Disruptive Themes, 2023-2035
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Power Mix in Transition Market Report Overview
The push for transition to cleaner energy, driven by strong policies and financial support, will heavily impact the future of renewable energy production, accounting for over 50% of the power mix by 2035. Technologies such as wind and solar will experience an exponential increase over the upcoming years due to a growth in investments and technology developments. In addition to renewables taking up the power market, the development of new technologies such as hydrogen, energy storage, carbon capture, and smart grids, are driving change in the power sector.
Buy the Report to Get More Insights into the Power Mix in Transition Market Report Overview
The power mix in transition market research report analyzes the evolution of the global power mix in recent years and its growth trajectory up to 2035. It gives valuable insights into the future costs, investments, and focus areas for the renewable energy industry.
Historical Period | 2010-2022 |
Forecast Period | 2023-2035 |
Key Regions | · Asia Pacific
· Europe · Middle East and Africa · North America · South and Central America |
Disruptive Themes | · Low-Carbon Hydrogen
· Energy Storage · CCS/CCU · Digitalization |
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Power Market Segmentation by Region
While renewables are projected to significantly increase their share of the power mix over the coming years, the degree to which they will develop will vary by region. While Europe and North America will continue to have an accelerated shift toward clean technologies by 2035, the progress is slower in Asia-Pacific and especially the Middle East where thermal technologies will still be the main power source.
Power Market Analysis by Regions, 2023 (%)
Power Technology Trends
- Power generation is one of the macro indicators that will shape the future of the power mix.
- Renewable technologies will experience a constant reduction in the average project costs due to technology deployment and increasing investments.
- Thermal power will have a compound annual growth of just 1%, from 2022 to 2035, while technologies like wind and solar will show a great increase in their capacity.
- Phasing out coal policies and the reduction in oil-fired power generation have positioned gas as the main source of power generation in the global mix.
- Nuclear and hydro generation will remain mostly constant.
- Upcoming biopower capacity will be focused within Asian countries, which hold over 50% of the global share of this technology.
- Geothermal power generation will witness significant growth but will continue to have the smallest share within the mix.
Power Mix in Transition - Disruptive Themes
Low-Carbon Hydrogen: Low-carbon hydrogen has seen increasing growth within the last few years, as it is seen to cut emissions across the industrial and transport sectors. Low-carbon hydrogen capacity will increase by 2030 due to continuous political and financial support aligned with regional hydrogen programs.
Energy Storage: Energy storage will play an extremely important role in the global power sector as it will help balance energy fluctuations in the system generated by intermittent renewable sources such as solar and wind. Different technologies for developing efficient and large-scale energy storage projects are being researched and improvements will support growth from 2022-2030.
Segments Covered in the Report
Power Market Regional Outlook (Value, 2010-2035)
- Asia Pacific
- Europe
- Middle East and Africa
- North America
- South and Central America
Scope
This report provides:
- Global outlook on the power mix shifting into renewables
- Renewables shares of by region from 2020 to 2035
- Decommissioning and upcoming thermal capacity outlook from 2020-2035
Reasons to Buy
- Identify the market trends globally and by region by each of the power technologies.
- Develop market insight of current, in development, and announced capacity and latest trends of the sector.
- Understand the region’s different power landscapes by 2035.
- Understand technology by technology macroeconomics and market.
- Facilitate the understanding of how and where the market is growing as it is rapidly scaling up to position as one of the main topics of the international and regional agenda.
Table of Contents
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Frequently asked questions
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Which regions will make a significant contribution to the global power mix?
Europe and North America will continue to have an accelerated shift into clean technologies, with renewables contributing significantly toward the power mix by 2035.
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Which renewable energy type(s) will continue to increase generation to cover the global power demand?
Solar and wind power will impact all regions increasing their power generation share dramatically.
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What are the key disruptive themes that will influence the global power mix in the coming years?
Low-carbon hydrogen, energy storage, CCS/CCU, and digitalization are the key disruptive themes that will influence the global power mix in the coming years.
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