North America Energy Transition by Key Sectors and Companies Driving Development
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North America Energy Transition Market Report Overview
North America’s energy transition is continuing to gather pace, with a combination of technological development and favourable policy incentives driving substantial growth across renewables, hydrogen, and CCUS sectors. Technologies such as electric vehicles and renewable fuels are also experiencing increasing adoption albeit at a slower rate.
The ‘North America Energy Transition’ market research report provides analysis and trends on North America’s energy transition from non-renewable to renewable sources.
Key Power Types | · Coal
· Oil · Gas · Nuclear · Hydro |
Key Sectors | · Renewable Energy
· Electric Vehicles · Renewable Fuel · CCS/CCU · Hydrogen |
Key Players | · NextEra Energy
· Invenergy · Tesla · Toyota · Valero |
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North America Energy Transition Market Segmentation by Types
The key power types in the North America energy transition market are coal, oil, gas, nuclear, and hydro, among others. Gas accounted for the highest share of the North America energy transition market. North America’s power capacity landscape is set to experience a significant change in the next decade, due to the rapid rise of renewable installed capacity and the decline of thermal power.
North America Energy Transition Market Analysis by Types, 2022 (%)
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North America Energy Transition Market Segmentation by Sectors
The key sectors in the Asian energy transition market are renewable energy, electric vehicles, renewable fuel, CCS/CCU, and hydrogen.
Electric Vehicles: North America’s electric vehicle sales will continue its growth trend. The US will remain the key contributor to EV sales. The US will also remain an important country in the context of the global EV market. Despite starting from a lower base, Canada will also see similar growth in terms of BEV sales, which will help the country approach similar adoption rates to the US.
Renewable Fuels: North America’s renewable fuel production is forecast to experience strong growth. A combination of increasing demand and policy incentives will drive strong growth in the production and consumption of renewable fuels in North America. SAF producers in the US will be best positioned to capitalize on this growth trend. The US will contribute the bulk of production capacity. Mexico is also forecast to have a negligible production capacity in comparison.
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North America Energy Transition Market – Competitive Landscape
A few of the major players in the North America energy transition market are NextEra Energy, Invenergy, Tesla, Toyota, and Valero among others.
North America Energy Transition Market Analysis by Players
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Segments Covered in the Report
North America Energy Transition Market Power Types Outlook (2018-2035)
- Coal
- Oil
- Gas
- Nuclear
- Hydro
North America Energy Transition Market Sectors Outlook (2018-2035)
- Renewable Energy
- Electric Vehicles
- Renewable Fuels
- CCS/ CCU
- Hydrogen
Scope
The report provides:
- Regional Energy Transition in North America
- Policies supporting energy transition
- Power renewable capacity and generation by 2035 and thermal decommissioning capacity
- Electric vehicles market and growth
- Key renewable refinery projects in North America
- CCS capacity and main CCS developments
- Main hydrogen developments and hydrogen capacity in North America
Key Highlights
• Coal-fired generation will experience a strong decline of -6.1% between 2023 and 2035. Meanwhile, gas will still hold a presence in the region’s future generation mix, with an expected 27% generation share in 2035. Gas will experience a small decline of -1.3% in terms of absolute generation between 2023 and 2035, reflecting how countries in the region are expected to balance decarbonization and energy security concerns.
• Renewables are expected to hold a 55% generation share by 2035, with solar PV and onshore wind accounting for 24% and 17% respectively.
• Within North America, Canada currently has the highest proportion of renewable generation, largely due to its hydropower base, which accounted for 60% of overall generation in 2021. Hydropower will remain the largest source of renewable power, but solar, wind and biopower additions will boost renewable generation to 68% in 2035.
• CO2 storage, power and blue hydrogen remain the dominant facility sectors for CCUS, with these three industries accounting for 66% of CCUS capacity in 2030.
• Air Products and Chemicals Inc is expected to have 6 operational projects by 2030, with one already active and a further 5 in feasibility and construction phases that will come online from 2024 onwards. The company will be the second biggest contributor to low-carbon hydrogen capacity by the end of the decade, accounting for 770ktpa.
Reasons to Buy
- Identify the latest trends, policies, and leaders in energy transition technologies.
- Develop market insight of current, in development, and announced capacity and latest trends of each of the sectors.
- Understand the potential market growth and policy support for renewable power, hydrogen, renewable refineries, CCS, and EVs.
- Facilitate the understanding of where the market is growing as the energy transition remains the foremost topic of the international agenda.
MasTec Inc
Quanta Services Inc
Vestas Wind Systems AS
Renewable Energy Systems Holdings Ltd
Siemens Energy AG
Invenergy LLC
Vepica USA Inc
Fagen Inc
Borea Construction ULC
General Electric Co
Nordex SE
Platinum Equity LLC
Mitsubishi Heavy Industries Ltd
Enercon GmbH
Suzlon Energy Ltd
DeWind Co
Senvion SA
Swinerton Renewable Energy Inc
McCarthy Building Companies Inc
First Solar Inc
EMJ Corp
TotalEnergies SE
Rosendin Electric Inc
SOLV Energy LLC
Bechtel Corp
JinkoSolar Holding Co Ltd
Canadian Solar Inc
Trina Solar Co Ltd
Hanwha Corp
JA Solar Technology Co Ltd
LONGi Green Energy Technology Co Ltd
Yingli Green Energy Holding Co Ltd
Waaree Energies Pvt Ltd
Gron Fuels LLC
Nacero Inc
Phillips 66
Darling Ingredients Inc
Valero Energy Corp
Marathon Petroleum
Neste Corp
Next Renewable Fuels Inc
CVR Energy Inc
Gevo Inc
Chevron Corp
Enhance Energy Inc
Equinor ASA
Talos Energy Inc
Summit Agricultural Group
Exxon Mobil Corp
Natural Resourcecs Partners LP
Pembina Pipeline Corp
TC Energy Corporation
Enagas SA
Prairie State Energy Campus LLC
Occidental Petroleum Corp
Green Hydrogen International
BW Group Ltd
Clean Hydrogen Works
Denbury Carbon Solutions LLC
Mitsui OSK Lines Ltd
Fort Nelson First Nation
Hydrogen Naturally Inc
Air Products and Chemicals Inc
Bear Head Energy Inc
Bakken Energy LLC
Shell plc
DNV Group AS
Delicias Solar S.A de C.V
Alstom SA
HIF Global
Table of Contents
Table
Figures
Frequently asked questions
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Which is the leading power type in the North America energy transition market?
Gas was the leading power type in the North America energy transition market in 2022.
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What are the key sectors in the North American energy transition market?
The key sectors in the North American energy transition market are renewable energy, electric vehicles, renewable fuels, CCS/CCU, and hydrogen.
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Who are the key players operating in the North American energy transition market?
A few of the major players in the North America energy transition market are NextEra Energy, Invenergy, Tesla, Toyota, and Valero among others.
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