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Global Power Generation Forecasts, 2024–2035

Publisher Frost & Sullivan
Published Aug 12, 2024
SKU # MC19094349

Description

Global Power Generation Forecasts, 2024–2035


The Industry is Seeing Record-breaking Investment Levels as Power Decarbonization Accelerates Globally

2023 was a record-breaking year for power generation investment, with $864.6 billion committed to global projects. Climate obligations and supportive regulations are the mainstays of global growth. While China has significantly increased its renewable targets in recent years (partly to support domestic technology companies), the US' Inflation Reduction Act, which was passed in 2022, provides a degree of investor certainty never seen before and incentives for investment in domestic supply chains. Furthermore, Russia’s invasion of Ukraine in 2022 galvanized Europe to take action, as energy security has become a global megatrend.

Inflationary pressures were a major challenge in 2022 and 2023, but they have now abated and project costs have peaked. In the case of solar PV, module prices are at record lows, which is helping to reduce prices gradually. For wind power, the journey to lower project costs will take longer, particularly for offshore wind; nevertheless, significant demand growth continues as many governments have increased policy support. Approximately $1 trillion per annum will be invested in the decade ahead to 2035, with solar PV and wind power accounting for 78% of the total, on average. Investment in fossil fuels will continue, albeit at a much lower scale. Coal and natural gas projects will continue to receive $1.5 trillion in investment during the forecast period (from 2024 to 2035).

Table of Contents

    • Why is it Increasingly Difficult to Grow?
    • The Strategic Imperative 8
    • The Impact of the Top 3 Strategic Imperatives on the Power Generation Industry
    • Growth Opportunities Fuel the Growth Pipeline Engine
    • Research Scope
    • Geographic Scope
    • What Does This Study Include?
    • Growth Drivers
    • Growth Restraints
    • Global Power Generation Investment Forecast by Region
    • Global Power Generation Investment Forecast
    • Global Power Generation Capacity Forecast
    • Global Power Generation Installed Capacity and Electricity Generated
    • North American Power Generation Investment Forecast
    • North American Power Generation Capacity Forecast
    • North American Power Generation Installed Capacity & Electricity
    • European Power Generation Investment Forecast
    • European Power Generation Capacity Forecast
    • European Power Generation Installed Capacity & Electricity Generated
    • Latin American Power Generation Investment Forecast
    • Latin American Power Generation Capacity Forecast
    • Latin American Power Generation Installed Capacity & Electricity
    • Indian and South Asian Power Generation Investment Forecast
    • Indian and South Asian Power Generation Capacity Forecast
    • Indian & South Asian Power Generation Installed Capacity & Electricity Generated
    • MENA Power and Energy Industry Investment Forecast
    • MENA Power Generation Capacity Forecast
    • MENA Power Generation Installed Capacity & Electricity Generated
    • East Asian Power Generation Investment Forecast
    • East Asian Power Generation Capacity Forecast
    • East Asian Power Generation Installed Capacity & Electricity Generated
    • Chinese Power Generation Investment Forecast
    • Chinese Power Generation Capacity Forecast
    • Chinese Power Generation Installed Capacity & Electricity Generated
    • ASEAN Power Generation Investment Forecast
    • ASEAN Power Generation Capacity Forecast
    • ASEAN Power Generation Installed Capacity & Electricity Generated
    • ANZ and Pacific Power Generation Investment Forecast
    • ANZ and Pacific Power Generation Capacity Forecast
    • ANZ & Pacific Power Generation Installed Capacity & Electricity Generated
    • Sub-Saharan Africa Power Generation Investment Forecast
    • Sub-Saharan Africa Power Generation Capacity Forecast
    • Sub-Saharan Africa Power Generation Installed Capacity & Electricity Generated
    • Russia and CIS Power Generation Investment Forecast
    • Russia and CIS Power Generation Capacity Forecast
    • Russia & CIS Power Generation Installed Capacity & Electricity Generated
    • Growth Opportunity 1: Turbine Servicing
    • Growth Opportunity 2: Repowering Renewable Energy Assets
    • Growth Opportunity 3: Plant Decommissioning

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