Electricity Generation Market Report 2025 (Global Edition)

Global Electricity Generation Market Report 2025 Market Size Split by Source of generation (Renewable Energy, Solar Power, Wind Power, Hydro Power, Biomass, Geothermal, Non-Renewable Energy, Coal, Nat...

Electricity Generation Market Report Description

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Impact of Trumph Tariff on Energy and Power Industry

In 2025, global trade entered a turbulent phase as the U.S., under President Donald Trump, introduced aggressive "Liberation Day Tariffs" to address trade imbalances. These tariffs, ranging from 10% to 46%, heavily impacted the energy and power sector, which relies on global supply chains for critical components like rare earth metals, solar panels, wind turbines, and lithium. The U.S.–China trade war escalated, with reciprocal tariffs and China's trade surplus with the U.S. reaching USD 102.6 billion. Retaliatory tariffs from the EU and Canada further disrupted energy supply chains, raising material costs and causing delays in key projects.

The U.S. imposed a 20% tariff on rare earths, impacting EVs and clean tech; 25% on solar panels, increasing installation costs; 15–25% on wind turbine parts, affecting project timelines; and 10–15% on oil and gas equipment, pushing producers to rethink supply networks. Sub-sectors like renewables, EVs, oil & gas, and power generation are all experiencing rising costs, supply bottlenecks, and delayed investments. For instance, solar and wind projects now face 10–30% higher costs, and EV producers are struggling with battery input inflation.

China remains central to the U.S. energy supply chain, with even indirect imports via countries like Vietnam and Malaysia tightly linked to Chinese inputs. As a result, U.S. energy firms are exploring alternative sourcing from Southeast Asia, Latin America, and domestic production to reduce exposure. However, switching suppliers requires significant investment, coordination, and time.

In this volatile environment, market research is critical. It helps energy firms map supplier risks, track price trends, and explore alternative sourcing. It enables supply chain optimization through AI and predictive analytics, while regulatory tracking and scenario planning allow companies to anticipate future disruptions. Energy firms like NextEra and First Solar are responding by diversifying suppliers, investing in local production, and leveraging digital tools to improve procurement and adapt to tariff-driven challenges. Those using data-driven strategies and flexible operations are best positioned to thrive amid rising trade tensions.

Electricity Generation Market Insights Video

Competitive Landscape of the Electricity Generation Market

The electricity generation market is a competitive landscape with both traditional sources and renewable sources. Companies in this industry are highly competitive, fighting for every available market share. Furthermore, the IPPs bring increased competition to this market due to their niche market specializations and novel energy supply solutions. There is substantial government attention to clean energies; governments all around the world are promoting new market entrants, driving the forces of innovation.

In May 2024, GE Vernova confirmed an order for 16 LM6000 VELOX aero-derivative gas turbine package solutions, which include an LM6000 turbine and generator. These units will be deployed to the Tennessee Valley Authority's (TVA) Kingston Energy Complex near Kingston, Tennessee, with the goal of generating up to 850 megawatts of power. This effort aims to improve grid resilience and provide uninterrupted, cost-effective power to TVA customers. (Source: https://www.powermag.com/tva-secures-16-ge-vernova-aeroderivative-gas-turbine-packages-for-kingston-replacement/) In May 2024, Mitsubishi Power Americas and CONSAG Engenharia signed an EPC deal with Portocem Geracao de Energia S.A. and New Fortress Energy to develop the Portocem Thermoelectric Power Plant (UTE Portocem) in Brazil. (Source: https://www.turbomachinerymag.com/view/mitsubishi-power-delivers-m501-jac-turbines-for-ute-portocem-plant) In February 2024, GE Vernova's Grid Solutions division received multimillion-dollar orders from Power Grid Corporation of India (PGCIL) to deliver 765 kV Shunt Reactors. These orders help PGCIL's efforts to incorporate renewable energy into India's national grid and improve power transmission. (Source: https://www.gevernova.com/grid-solutions/press/gepress/ge-vernova-secures-major-orders-from-pgcil-to-accelerate-india-energy-transition.htm)

Top Companies Market Share in Electricity Generation Industry: (In no particular order of Rank)

• General Electric
• Siemens AG
• Mitsubishi Heavy Industries
• China National Nuclear Corporation
• NextEra Energy
• Inc.
• Enel Spa
• Duke Energy Corporation
• Tata Power
• Ørsted A/S
• Schneider Electric
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Electricity Generation Market

Which Region Dominates the Electricity Generation Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2023 and is likely to hold that position throughout the forecast period. Several major regional players, notably the United States and Canada, actively shape the power landscape

Which Region is Expanding at the Fastest CAGR?

Asia Pacific has the fastest-growing power generation market. Recent years have seen a huge increase in electricity demand due to the region's growing urbanization, industrialization, and population growth. This demand is driven by countries in China, India, and Southeast Asia

The current report Scope analyzes Electricity Generation Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Electricity Generation Market Analysis

According to Cognitive Market Research, the global Electricity Generation market size was estimated at USD 2154.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 861.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Electricity Generation market with a market size of USD 679.87 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. The U.S. market's rapidly growing renewable energy sector.
• The Canada Electricity Generation market had a market share of USD 103.40 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. Canada has been investing in wind and solar energy to diversify its energy mix and reduce greenhouse gas emissions
• The Mexico Electricity Generation market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 78.41 million in 2024.

Europe Electricity Generation Market Analysis

According to Cognitive Market Research, the global Electricity Generation market size was estimated at USD 2154.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 646.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031.

• The United Kingdom Electricity Generation market had a market share of USD 108.57 million in 2024 and is projected to grow at a CAGR of 9.1% during the forecast period. In the UK, Electricity Generation sales witness an upswing due to the increasing focus on renewable energy sources.
• The France Electricity Generation market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 59.46 million in 2024.
• According to Cognitive Market Research, the German Electricity Generation market size was valued at USD 127.96 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. In Germany, Electricity Generation surged due to the aggressive transition towards renewable energy
• The Italy Electricity Generation market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 55.58 million in 2024.
• The Russia Electricity Generation market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 100.17 million in 2024.
• The Spain Electricity Generation market is projected to witness growth at a CAGR of 7.4% during the forecast period with a market size of USD 52.99 million in 2024
• The Luxembourg Electricity Generation market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 20.03 million in 2024.
• The Portugal Electricity Generation market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 13.57 million in 2024.
• The Greece Electricity Generation market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 7.76 million in 2024.
• The Rest of Europe's Electricity Generation market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 100.17 million in 2024.

Asia Pacific Electricity Generation Market Analysis

According to Cognitive Market Research, the global Electricity Generation market size was estimated at USD 2154.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 495.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.

• According to Cognitive Market Research, the China Electricity Generation market size was valued at USD 222.96 million in 2024 and is projected to grow at a CAGR of 11.3% during the forecast period. Electricity Generation surged in China due to rapid industrialization and urbanization.
• The Japan Electricity Generation market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 68.37 million in 2024.
• The India Electricity Generation market had a market share of USD 59.46 million in 2024 and is projected to grow at a CAGR of 13.6% during the forecast period. India's technological advancements.
• The South Korean Electricity Generation market is projected to witness growth at a CAGR of 10.9% during the forecast period, with a market size of USD 49.55 million in 2024.
• The Australian Electricity Generation market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 25.76 million in 2024.
• The South East Asia Electricity Generation market is projected to witness growth at a CAGR of 12.8% during the forecast period, with a market size of USD 34.19 million in 2024.
• The Rest of Asia Pacific Electricity Generation market is projected to witness growth at a CAGR of 11.6% during the forecast period, with a market size of USD 35.18 million in 2024.

South America Electricity Generation Market Analysis

According to Cognitive Market Research, the global Electricity Generation market size was estimated at USD 2154.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 107.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Electricity Generation market size was valued at USD 46.10 million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. Electricity Generations flourished in Brazil due to advancements in technology.
• Argentina's Electricity Generation market had a market share of USD 18.10 million in 2024 and is projected to grow at a CAGR of 10.1% during the forecast period. Argentina's rising awareness of climate change
• Colombia Electricity Generation market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 9.59 million in 2024.
• Peru Electricity Generation market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 8.83 million in 2024.
• Chile Electricity Generation market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 7.76 million in 2024.
• The Rest of Latin America's Electricity Generation market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 17.34 million in 2024.

Middle East Electricity Generation Market Analysis

According to Cognitive Market Research, the global Electricity Generation market size was estimated at USD 2154.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 43.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031..

• The GCC Countries Electricity Generation market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 18.44 million in 2024. Electricity Generation sales flourish due to the growing population and urbanization.
• The Egypt Electricity Generation market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 0.99 million in 2024.
• The South Africa Electricity Generation market is projected to witness growth at a CAGR of 10.5% during the forecast period, with a market size of USD 6.81 million in 2024. Electricity Generation sales flourished in South Africa due to increasing demand for sustainable and reliable energy sources.
• The Turkey Electricity Generation market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 3.71 million in 2024.
• The Nigeria Electricity Generation market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 4.52 million in 2024.
• The Rest of the MEA Electricity Generation market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 5.08 million in 2024.

Electricity Generation Market Analysis

Electricity Generation Market Source of Generation Segment Analysis

According to Cognitive Market Research, Nonrenewable sources are the most significant portion of the market of Electricity Generation. This includes fossil fuels that include coal, natural gas, and oil. This is what has largely formed the backbone of electricity generation for many years due to their widespread infrastructure and reliability.

The renewable sources segment remains the fastest-growing part of the market. The growth may be attributed to climate change awareness, policies by the government on clean energy, and breakthroughs in technology that make renewable sources more efficient and cheaper. More wind, solar, and hydroelectric power accounts for the major portion of this growth, with countries all over the world trying to reduce their carbon footprint and move towards sustainable energy sources.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Electricity Generation Industry. Request a Free Sample PDF!

Electricity Generation Market Technology Segment Analysis

According to Cognitive Market Research, Thermal Generation is presently the market leader. These are electric powers produced from fossil fuels such as coal, natural gas, and oil. Thermal power plants were, for a long period, considered a norm source of generation for electrical power because they could offer stability in supply and continuous power.

The fastest growing category is Renewable Generation Technologies, which includes sources such as wind, solar, and biomass. Several factors have contributed to this rapid growth: global interest in alternative energy, advances in technology related to renewable energy generators and their low costs, and increased infrastructure. Governments and organizations are increasingly turning to renewable energy as a solution to reverse climate change and reduce dependence on fossil fuels.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Electricity Generation End-user Segment Analysis

Electricity Generation Market End-user Segment Analysis

According to Cognitive Market Research, The industrial segment is expected to grow at a stunning CAGR over the forecast period due to a number of factors. Industrial operations are naturally energy-intensive, necessitating significant and continuous electricity for manufacturing, processing, and production tasks. As global industry accelerates, particularly in emerging economies, demand for power in this sector is increasing rapidly.

The Utilities segment in the Electricity Generation market is growing at a fast rate, including major power generation companies that are producing electricity for sale through supply to residential and commercial customers. Utility segment growth primarily remains driven by an increasing need for electricity from transitions to renewable sources of energy to investment in modernizing grid infrastructure.

• Residential
• Commercial
• Industrial
• Utilities

Electricity Generation Capacity Segment Analysis

Electricity Generation Market Capacity Segment Analysis

According to Cognitive Market Research, Up to 50 MW is the most popular segment. This segment includes smaller power generation facilities, which are mostly used for localized energy needs such as community projects or smaller renewable installations. These facilities are easier to develop and contain relatively low capital requirements; hence are attractive options for many investors and developers

The growth rate is projected to be the highest in the 101 MW to 250 MW segment. This category exhibits a strong growth rate as investors tend to focus their investments on mid-sized projects in renewably sourced energy, such as wind and solar farms. High-scale production can achieve economies of scale, potentially reducing costs per megawatt of electricity

• Up to 50 MW
• 51 MW to 100 MW
• 101 MW to 250 MW
• Above 250 MW

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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