Electricity has changed the way we live today, and has become an indispensable part of everything from industries to our day-to-day lives. The electricity generation, transmission and distribution infrastructure of a region greatly defines the development and economic progress of the region. Today, power is generated from a variety of sources ranging from fossil fuels, like coal and oil, to renewable sources, like wind and solar. The energy mix for electricity generation is dominated by fossil fuels like coal, oil and natural gas, with the three constituting almost over 65 percent of the global energy mix.
Canada power market was estimated to be USD XX billion in 2015, and is expected to grow to USD XX billion by 2021, at a CAGR of XX percent.
There is a growing need for power in the world today, especially in the face of increasing population. Urbanization is also on the rise along with the population and the lifestyles of people are changing. This is in turn putting a strain on the existing power generation, transmission and distribution infrastructure. Development of a power generation, transmission, and distribution network is the need of the hour and has to be addressed immediately. Transmission losses is a major issue in present day power distribution and transmission systems, and there is an urgency to tackle this problem. Development of technologies like smart grids that are aimed at addressing these problems are contributing to the growth in the power market. Canada generates an estimated XX GW of power presently, and this is expected to grow to XX GW by 2021. Development of the power transmission and distribution network is also expected during this time period, in order to cope up with the growing power demand.
A shift in demand can be seen from conventional power generation sources to renewable technologies. This, though beneficial to the renewables industry, is hindering the conventional power generation industry. The huge investment needed for developing power generation, transmission and distribution networks is a major factor hindering the power market. With climate change agreements and a growing demand for clean power sources, renewables are being seen the world over as the future of the power industry, however conventional sources will be the major source of power in the world during the study period. The transition to renewables will be a gradual and slow process.
Canada Power Market report analyses the power generation sector based on the type of fuel used into - thermal, gas, nuclear and renewables, among others. Canada power transmission and distribution networks have also been analysed in the report. An analysis of the key companies involved in the power generation, transmission, and distribution is provided, along with an analysis of key upcoming and pipeline projects in each of these segments has been conducted.
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