Growth Expected in the Power Generation Market Through 2027

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Growth Expected in the Power Generation Market Through 2027
Marietta, GA. (June 18, 2021) —
A 2021 report on the power generation industry’s current and forecasted market size indicates growth for the foreseeable future. The $1345.98 billion global market value assessed in 2019 is expected to increase to $1769.32 billion before the end of this decade as populations and electricity consumption continue to rise. Innovative technologies such as smart grids will continue to drive the industry forward, creating more energy from fewer resources and distributing it more efficiently. By 2040, the authors expect global electricity demand to double from its 2017 value; by 2050, they predict it will double again. Applied Technical Services has worked with companies in this industry throughout our 50+ years in business, helping ensure their equipment remains in top shape through our nondestructive testing (NDT) and Professional Engineering capabilities. As they have grown over these five decades, so too have our inspections and testing services evolved to match their changing needs.
This report projects that renewable energy will make up as much as 50% of global output after 2035, indicating exponential growths in hydroelectric, wind, and solar power in the coming years. ATS’ inspection services group regularly assesses the condition of power banks, generators, turbines, penstocks, panels, and other critical equipment for signs of damage or decay. As green initiatives and green energy continue to gain in popularity, ATS is positioned to grow alongside renewable power producers, continuing to meet their needs as we move forward.
Non-renewable energy sources will play an integral part in electricity output the world over long after 2035. These plants will also see technological advances, including strides in Advanced Ultra-Supercritical solutions, intended to boost productivity and reduce ecological impact. ATS has served coal, natural gas, and oil producers since the 70s with our elite NDT and consulting engineering expertise — we understand these industries in a way that few third-party inspection providers do. Our inspection services group also performs work for nuclear power plants, as our services are NUPIC, NIAC, 10 CFR 50 Appendix B, 10 CFR Part 21, and ASME-NQA compliant.
Non-renewable energy sources will play an integral part in electricity output the world over long after 2035. These plants will also see technological advances, including strides in Advanced Ultra-Supercritical solutions, intended to boost productivity and reduce ecological impact. ATS has served coal, natural gas, and oil producers since the 70s with our elite NDT and consulting engineering expertise — we understand these industries in a way that few third-party inspection providers do. Our inspection services group also performs work for nuclear power plants, as our services are NUPIC, NIAC, 10 CFR 50 Appendix B, 10 CFR Part 21, and ASME-NQA compliant.
As the power generation industry continues to evolve, so does ATS. Contact us today to learn how we can serve your company!