Asia-Pacific Power Market Size Valuable Growth Prospects, Si...| MENAFN.COM

Tuesday, 27 September 2022 10:49 GMT

Asia-Pacific Power Market Size Valuable Growth Prospects, Size, Share, Demand And Current Trends Analysis 2022-2031

(MENAFN- America News Hour)

The Asia-Pacific power market is expected to grow at a CAGR of over 3.5% in the forecast period. Factor such as increasing demand for energy, the governmental push towards the adoption of renewable energy sources, and rising investment in the sector is expected to drive the market. However, a huge investment that is required for setting up and modernizing of power generation, transmission and distribution network, and weak private sector investment along with the plans to shut down coal-fired power plants are expected to impede the growth of the market.
– The thermal power segment is expected to be the largest segment and is likely to dominate the market during the forecast period. This is primarily due to fossil fuels, which are among the cheapest viable option to create energy. Although fossil fuels cause a lot of greenhouse emissions, they are, in 2019, the most used fuel to produce electricity in the region.
– New models of solar cells made of a thin film technology that uses thin coatings of cadmium telluride in solar cells, which has higher efficiency and lower cost, may prove to be an opportunity in the sector.
– China is the largest energy producer in the world and also the largest market in the region. A high level of industrialization and increasing urbanization in the country is expected to further aid the growth in the market.

Get a PDF Sample for more detailed market insights: 
Key Market Trends
Thermal Power to Dominate the Market

– Thermal power is generated from the heat created by the burning of fossil fuel and is converted into electrical energy. Large scale use of fossil fuel exists in the Asia-Pacific region, as electricity produced from fossil fuels is usually cheaper than other sources such as solar or wind energy.
– In early 2020, Mitsubishi Hitachi Power Systems is leading work on the construction of a three-unit combined cycle gas turbine (CCGT) power plant in Japan. The three new units are expected to begin operations in 2023, with a total output capacity of 1,950 MW. Natural gas provides for a cleaner alternative, and thermal plants operating using natural gas are expected to increase in the forecast period.
– As of early 2020, coal still remains the most used fuel for energy production in the region's thermal power plants. Developing nations like India and China consume more than 50% of the primary energy from coal. However, natural gas and renewables in the region have also seen aggressive growth, which may alter the scenario to a certain extent in the forecast period.
– In 2019, the Vindhyachal Thermal Power Station in the Singrauli district of Madhya Pradesh, with an installed capacity of 4,760MW, is the biggest thermal power plant in India. It uses coal as the primary fuel and is owned and operated by the government-owned National Thermal Power Corporation Limited.
– Therefore, it is expected that thermal power plants are likely to dominate the Asia-Pacific power market due to their competitive costs of construction and operating and the continued investment in the thermal power sector.
China to Dominate the Market
– China is the most populous nation and the highest producer of electricity in the world. China also has a broad industrial and manufacturing base, which has created further demand for electricity.
– Thermal power plants are the most used power plant type in the country, with coal being the most significant fuel variant. New thermal power plants are being constructed in the nation, which uses ultra-supercritical technology to reduce greenhouse gas emissions.
– Renewable energy segment in the country contributed around 143.5 million tonnes of oil equivalent (mtoe) of the primary energy consumption in 2018. The sector has grown significantly, in China, in the past decade and is expected to rise further in the forecast period.
– Leilongwan power station, fully commissioned in 2019, produces energy of 2000 MW. It uses the ultra-supercritical technology to generate electricity from coal. Coal thermal power plants have been built all over the country and are expected to grow further in the forecast period.
– The Baihetan hydropower project is under construction on the Jinsha River, China. China Yangtze Power Corporation is developing the project, while Dongfang Electric Machinery supplied the turbine generators in a joint venture with China Three Gorges Corporation (CTG). The megaproject features the world's first 1000 megawatts (MW) turbine generator rotor, which was installed at the site in January 2019. The project is expected to be completely functional by December 2022.
– Hence, China is expected to dominate the market due to its large electricity consumption and massive investments in the country's power projects.

Request for PDF Sample Copy: – 
Competitive Landscape
The Asia-Pacific power market is fragmented. Some of the key players in this market include Power Construction Corporation of China Ltd, NTPC Limited, Tokyo Electric Power Company Holdings, State Grid Corporation of China, and Korea Electric Power Corporation.

1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
4.1 Introduction
4.2 Asia-Pacific Energy Mix, 2018
4.3 Electricity Production and Consumption Forecast, in TWh, till 2025
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis
4.8.1 Bargaining Power of Suppliers
4.8.2 Bargaining Power of Consumers
4.8.3 Threat of New Entrants
4.8.4 Threat of Substitutes Products and Services
4.8.5 Intensity of Competitive Rivalry

Access Full Report, here: Asia-Pacific Power Market

About SDKI :

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.