Projected power generation worldwide 2021-2027 by region

In 2021, the Asia-Pacific (APAC) countries were the global leader for energy production, at almost four terawatt-hours, followed by Europe with 1.4 terawatt-hours. Power generation is expected to increase in every world region by 2027. The most notable growth during that timeframe is expected in the APAC region, which is expected to increase by almost 50 percent in only six years.

Contribution of the renewable energy sector

A significant global growth in energy production from renewable sources will play a key role in the power generation sector over the next decades. Hydropower in the near term, and solar and wind energy after 2030 are projected to account for the largest installed renewable energy generation capacity worldwide.

Distribution transformer market

The growing global energy sector will require adequate infrastructure upgrades as time goes on. Transmission and distribution equipment, including distribution transformers – the service adapting the voltage of the electricity distributed in the grid to the power facilities of customers, is an important aspect of this. The APAC countries are forecast to dominate the distribution transformer market by 2027, with an expected market share of over 50 percent.