Global Peaking Power Plant Market Size study & Forecast, by Type (Natural Gas, Hydropower, Diesel, Others), by End-user (Industrial, Commercial, Residential, Utility) and Regional Analysis, 2023-2030

Description

List of Tables

Global Peaking Power Plant Market is valued at approximately USD 112.17 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.50% during the forecast period 2023-2030. A peaking power plant is a type of power generation facility designed to operate during periods of high electricity demand, typically for short durations. These plants are called "peaking" because they are brought online to meet peak electricity demand, which often occurs during periods of high energy consumption, such as hot summer afternoons or cold winter evenings. Peaking power plants are usually equipped with technologies that allow them to quickly start up and ramp up their electricity output to meet sudden spikes in demand. The Peaking Power Plant Market is expanding because of factors such as increasing electricity demand, rising deployment of energy storage technologies and rising urbanization and industrial growth.

As global populations and economies continue to grow, the demand for electricity rises. Peaking power plants are essential for meeting sudden spikes in electricity demand during peak periods. These facilities are strategically positioned to swiftly generate additional power when consumption peaks, ensuring a consistent supply during times of heightened need. Without peaking power plants, grid operators risk overloads, leading to blackouts or brownouts. Thus, the rising electricity demand underscores the critical role that peaking power plants play in maintaining grid stability and meeting the evolving energy needs of growing populations and economies. According to the International Energy Agency, the year-on-year change in electricity demand in the year 2022 stood at 498 Terawatt-Hour (TWh) which increased to 705 Terawatt-Hour (TWh) in the year 2023 and it is projected to reach 938 Terawatt-Hour (TWh) by the year 2025. In addition, Ongoing advancements in power generation technologies and the growing integration of renewable energy sources are creating new opportunities for market growth. However, the high cost of peaking power plants and environmental concerns stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Peaking Power Plant Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022. The escalating demand for electricity, fueled by rapid industrialization and urbanization in countries such as China and India, increasing integration of renewable energy sources, such as solar and wind projects, Additionally, government initiatives and policies promoting the development of peaking power plants to enhance grid reliability and meet peak demand are contributing to market growth. North America is expected to grow at the fastest rate over the forecast period, owing to factors such as such evolving focus on enhancing grid reliability, the abundance of natural gas, and initiatives to seamlessly incorporate renewable energy are influencing the energy landscape. Environmental regulations and policies are additional key factors shaping this evolving paradigm.

Major market player included in this report are:

Wartsila Oyj Abp
Siemens AG
Mitsubishi Hitachi Power Systems, Ltd. (MHPS)
Capstone Turbine Corporation
PW Power Systems, Inc.
Ansaldo Energia S.p.A.
MAN Energy Solutions SE
Kawasaki Heavy Industries, Ltd.
Rolls-Royce Holdings plc
General Electric Company (GE)

Recent Developments in the Market:

In February 2023, LCRA unveiled its intentions to construct a new 190 MW peaking power plant in central Texas. The objective behind this initiative is to fortify grid reliability and address the escalating demand for power in the region. This proposed power plant is designed to deliver dispatchable power specifically during peak demand periods, thereby enhancing the resilience and efficiency of the state's electric grid.
In April 2020, Ylem Energy Ltd. inaugurated a peaking power facility in the Trafford industrial area, located on the outskirts of Manchester City Center in the U.K. This natural gas-based plant incorporates eight 2.5MWe generators, collectively capable of generating up to 20MWe of rapid and flexible power. The primary purpose of this facility is to contribute to the balance of the national grid, particularly during periods of diminished renewable energy output in the U.K.

Global Peaking Power Plant Market Report Scope:

Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, End-user, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Natural Gas
Hydropower
Diesel
Others

By End-user:

Industrial
Commercial
Residential
Utility

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1.Executive Summary

1.1.Market Snapshot
1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Peaking Power Plant Market, by Region, 2020-2030 (USD Billion)
- 1.2.2.Peaking Power Plant Market, by Type, 2020-2030 (USD Billion)
- 1.2.3.Peaking Power Plant Market, by End-user, 2020-2030 (USD Billion)
1.3.Key Trends
1.4.Estimation Methodology
1.5.Research Assumption

Chapter 2.Global Peaking Power Plant Market Definition and Scope

2.1.Objective of the Study
2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
2.3.Years Considered for the Study
2.4.Currency Conversion Rates

Chapter 3.Global Peaking Power Plant Market Dynamics

3.1.Peaking Power Plant Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
  - 3.1.1.1.Increasing electricity demand
  - 3.1.1.2.Rising deployment of energy storage technologies
  - 3.1.1.3.Rising urbanization and industrial growth
- 3.1.2.Market Challenges
  - 3.1.2.1.High cost of peaking power plant
  - 3.1.2.2.Environmental concerns
- 3.1.3.Market Opportunities
  - 3.1.3.1.Ongoing advancements in power generation technologies
  - 3.1.3.2.Growing integration of renewable energy sources

Chapter 4.Global Peaking Power Plant Market Industry Analysis

4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
4.2.Porter's 5 Force Impact Analysis
4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
4.4.Top investment opportunity
4.5.Top winning strategies
4.6.COVID-19 Impact Analysis
4.7.Disruptive Trends
4.8.Industry Expert Perspective
4.9.Analyst Recommendation & Conclusion

Chapter 5.Global Peaking Power Plant Market, by Type

5.1.Market Snapshot
5.2.Global Peaking Power Plant Market by Type, Performance - Potential Analysis
5.3.Global Peaking Power Plant Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4.Peaking Power Plant Market, Sub Segment Analysis
- 5.4.1. Natural Gas
- 5.4.2. Hydropower
- 5.4.3. Diesel
- 5.4.4. Others

Chapter 6.Global Peaking Power Plant Market, by End-user

6.1.Market Snapshot
6.2.Global Peaking Power Plant Market by End-user, Performance - Potential Analysis
6.3.Global Peaking Power Plant Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
6.4.Peaking Power Plant Market, Sub Segment Analysis
- 6.4.1. Industrial
- 6.4.2. Commercial
- 6.4.3. Residential
- 6.4.4. Utility

Chapter 7.Global Peaking Power Plant Market, Regional Analysis

7.1.Top Leading Countries
7.2.Top Emerging Countries
7.3.Peaking Power Plant Market, Regional Market Snapshot
7.4.North America Peaking Power Plant Market
- 7.4.1.U.S. Peaking Power Plant Market
  - 7.4.1.1.Type breakdown estimates & forecasts, 2020-2030
  - 7.4.1.2.End-user breakdown estimates & forecasts, 2020-2030
- 7.4.2.Canada Peaking Power Plant Market
7.5.Europe Peaking Power Plant Market Snapshot
- 7.5.1.U.K. Peaking Power Plant Market
- 7.5.2.Germany Peaking Power Plant Market
- 7.5.3.France Peaking Power Plant Market
- 7.5.4.Spain Peaking Power Plant Market
- 7.5.5.Italy Peaking Power Plant Market
- 7.5.6.Rest of Europe Peaking Power Plant Market
7.6.Asia-Pacific Peaking Power Plant Market Snapshot
- 7.6.1.China Peaking Power Plant Market
- 7.6.2.India Peaking Power Plant Market
- 7.6.3.Japan Peaking Power Plant Market
- 7.6.4.Australia Peaking Power Plant Market
- 7.6.5.South Korea Peaking Power Plant Market
- 7.6.6.Rest of Asia Pacific Peaking Power Plant Market
7.7.Latin America Peaking Power Plant Market Snapshot
- 7.7.1.Brazil Peaking Power Plant Market
- 7.7.2.Mexico Peaking Power Plant Market
7.8.Middle East & Africa Peaking Power Plant Market
- 7.8.1.Saudi Arabia Peaking Power Plant Market
- 7.8.2.South Africa Peaking Power Plant Market
- 7.8.3.Rest of Middle East & Africa Peaking Power Plant Market

Chapter 8.Competitive Intelligence

8.1.Key Company SWOT Analysis
- 8.1.1.Company 1
- 8.1.2.Company 2
- 8.1.3.Company 3
8.2.Top Market Strategies
8.3.Company Profiles
- 8.3.1. Wartsila Oyj Abp
  - 8.3.1.1.Key Information
  - 8.3.1.2.Overview
  - 8.3.1.3.Financial (Subject to Data Availability)
  - 8.3.1.4.Product Summary
  - 8.3.1.5.Recent Developments
- 8.3.2. Siemens AG
- 8.3.3. Mitsubishi Hitachi Power Systems, Ltd. (MHPS)
- 8.3.4.Capstone Turbine Corporation
- 8.3.5.PW Power Systems, Inc.
- 8.3.6.Ansaldo Energia S.p.A.
- 8.3.7.MAN Energy Solutions SE
- 8.3.8.Kawasaki Heavy Industries, Ltd.
- 8.3.9.Rolls-Royce Holdings plc
- 8.3.10.General Electric Company (GE)

Chapter 9.Research Process

9.1.Research Process
- 9.1.1.Data Mining
- 9.1.2.Analysis
- 9.1.3.Market Estimation
- 9.1.4.Validation
- 9.1.5.Publishing
9.2.Research Attributes
9.3.Research Assumption

LIST OF TABLES

TABLE 1.Global Peaking Power Plant Market, report scope
TABLE 2.Global Peaking Power Plant Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3.Global Peaking Power Plant Market estimates & forecasts by Type 2020-2030 (USD Billion)
TABLE 4.Global Peaking Power Plant Market estimates & forecasts by End-user 2020-2030 (USD Billion)
TABLE 5.Global Peaking Power Plant Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 6.Global Peaking Power Plant Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7.Global Peaking Power Plant Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8.Global Peaking Power Plant Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9.Global Peaking Power Plant Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10.Global Peaking Power Plant Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11.Global Peaking Power Plant Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12.Global Peaking Power Plant Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13.Global Peaking Power Plant Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14.Global Peaking Power Plant Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15.U.S. Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16.U.S. Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 17.U.S. Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18.Canada Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 19.Canada Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20.Canada Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21.UK Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 22.UK Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23.UK Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24.Germany Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 25.Germany Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26.Germany Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27.France Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 28.France Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29.France Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30.Italy Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 31.Italy Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32.Italy Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33.Spain Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 34.Spain Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35.Spain Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36.RoE Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 37.RoE Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38.RoE Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39.China Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 40.China Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41.China Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42.India Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 43.India Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44.India Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45.Japan Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 46.Japan Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47.Japan Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48.South Korea Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 49.South Korea Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50.South Korea Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51.Australia Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 52.Australia Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53.Australia Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54.RoAPAC Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 55.RoAPAC Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56.RoAPAC Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57.Brazil Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 58.Brazil Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59.Brazil Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60.Mexico Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 61.Mexico Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62.Mexico Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63.RoLA Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 64.RoLA Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65.RoLA Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66.Saudi Arabia Peaking Power Plant Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 67.South Africa Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68.RoMEA Peaking Power Plant Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69.List of secondary sources, used in the study of global Peaking Power Plant Market
TABLE 70.List of primary sources, used in the study of global Peaking Power Plant Market
TABLE 71.Years considered for the study
TABLE 72.Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1.Global Peaking Power Plant Market, research methodology
FIG 2.Global Peaking Power Plant Market, Market estimation techniques
FIG 3.Global Market size estimates & forecast methods
FIG 4.Global Peaking Power Plant Market, key trends 2022
FIG 5.Global Peaking Power Plant Market, growth prospects 2023-2030
FIG 6.Global Peaking Power Plant Market, porters 5 force model
FIG 7.Global Peaking Power Plant Market, pest analysis
FIG 8.Global Peaking Power Plant Market, value chain analysis
FIG 9.Global Peaking Power Plant Market by segment, 2020 & 2030 (USD Billion)
FIG 10.Global Peaking Power Plant Market by segment, 2020 & 2030 (USD Billion)
FIG 11.Global Peaking Power Plant Market by segment, 2020 & 2030 (USD Billion)
FIG 12.Global Peaking Power Plant Market by segment, 2020 & 2030 (USD Billion)
FIG 13.Global Peaking Power Plant Market by segment, 2020 & 2030 (USD Billion)
FIG 14.Global Peaking Power Plant Market, regional snapshot 2020 & 2030
FIG 15.North America Peaking Power Plant Market 2020 & 2030 (USD Billion)
FIG 16.Europe Peaking Power Plant Market 2020 & 2030 (USD Billion)
FIG 17.Asia pacific Peaking Power Plant Market 2020 & 2030 (USD Billion)
FIG 18.Latin America Peaking Power Plant Market 2020 & 2030 (USD Billion)
FIG 19.Middle East & Africa Peaking Power Plant Market 2020 & 2030 (USD Billion)