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.

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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 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

  • 1. TRANSITION OF THE POWER MIX

    • 1.1. Macro indicators
    • 1.2. Generation share by region
    • 1.3. Global power mix

  • 2. ENERGY MIX PER REGION

    • 2.1. America
    • 2.2. Africa
    • 2.3. Europe
    • 2.4. Middle East
    • 2.5. APAC

  • 3. TRENDS BY POWER TECHNOLOGY

    • 3.1. Solar
    • 3.2. Wind
    • 3.3. Hydro
    • 3.4. Biopower
    • 3.5. Geothermal
    • 3.6. Nuclear
    • 3.7. Thermal

  • 4. DISRUPTIVE THEMES TAKING OVER ENERGY TRANSITION.

    • 4.1. Hydrogen
    • 4.2. Energy storage
    • 4.3. CCS & CCU
    • 4.4. Digitalization

Table

Table 1: Upcoming Hydropower Capacity, by Key Country 22

Table 2: Upcoming Nuclear Capacity, by Key Countries 23

Table 3: Upcoming Solar PV Capacity, by Key Country 24

Table 4: Upcoming Wind Capacity, by Key Country 25

Table 5: Countries phasing out coal 26

Figures

Figure 1: Power demand by region, 2018 – 2035, GWh 5

Figure 2: Population vs. Median Real GDP per capita, USD 5

Figure 3: Global Energy Share, % 6

Figure 4: Global Energy Mix from 2010 – 2035, GWh 7

Figure 5: Global Energy Mix – 2015 – 2035, % 8

Figure 6: Comparative Outlook for 2030 Power Mix, IEA NZE Scenario and GlobalData 9

Figure 7: Asia – Pacific Power Mix 11

Figure 8: Asia – Pacific Power Generation Mix by Technology 11

Figure 9: Europe Mix 12

Figure 10: Europe Power Generation Mix by Technology 12

Figure 11: Middle East & Africa Mix 13

Figure 12: Middle East & Africa Power Generation Mix by Technology 13

Figure 13: North America Mix 14

Figure 14: North America Power Generation Mix by Technology 14

Figure 15: South & Central America Mix 15

Figure 16: South & Central America Power Generation Mix by Technology 15

Figure 17: Macro Indicators – Generation 17

Figure 18: Macro Indicators – Project Costs 18

Figure 19: Macro Indicators – New Investments 19

Figure 20: Distribution of Biopower Capacity by Main Country – 2035 20

Figure 21: Biopower Generation by Region & share within the global mix (%) 20

Figure 22: Distribution of Geothermal Capacity by Main Country – 2035 21

Figure 23: Geothermal Generation by Region & share within the global mix (%) 21

Figure 24: Distribution of Hydropower Capacity by Region – 2035 22

Figure 25: Hydropower Generation by Region & share within the global mix (%) 22

Figure 26: Nuclear Attractiveness Index 23

Figure 27: Nuclear Generation by Region & share within the global mix (%) 23

Figure 28: Distribution of Solar PV Capacity by Region – 2035 24

Figure 29: Solar PV Generation by Region & share within the global mix (%) 24

Figure 30: Distribution of Wind Capacity by Region – 2035 25

Figure 31: Wind Generation by Region & share within the global mix (%) 25

Figure 32: Proportion of Thermal Power by Region 26

Figure 33: Upcoming vs Decommissioning Capacity, 2022 – 2035 27

Figure 34: Capacity Scenarios for 2030 29

Figure 35: Regional breakdown of upcoming capacity 29

Figure 36: Energy Storage Rated Capacity 30

Figure 37: 2035 Electro-chemical storage capacity by sub-technology, MWh 30

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