Asia-Pacific (APAC) Power and Energy Market Outlook 2023

Asia-Pacific (APAC) Power and Energy Market Outlook 2023

Greater Emphasis on Energy Security, Renewable Energy Adoption, and Grid Investments Drive Growth

RELEASE DATE
31-Mar-2023
REGION
Asia Pacific
Research Code: PE44-01-00-00-00
SKU: EG02312-AP-MO_27538
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Description

Frost & Sullivan observed that 2022 was a mixed year for the APAC power and energy sector. While the region benefitted from ending COVID-19 restrictions and increased economic activity, Russia's invasion of Ukraine meant it faced new energy security challenges as commodity prices rose, particularly for liquified natural gas. This has increased the importance of renewable energy investment to mitigate higher energy costs while achieving decarbonization goals.

However, it has also made coal a more critical element of the region’s energy mix, as utilities worry about an increased dependency on gas. Decarbonization will remain a focus for the area despite the use of coal, with carbon capture, usage, and storage (CCUS) and hydrogen likely to offer robust growth in the longer term as the region explores all options to decarbonize its energy mix. Grid investment will continue accelerating to facilitate renewables' development and improve the energy network's resiliency.

The base year for the study is 2022, with 2020–2030 as the study period and 2023–2030 as the forecast period. Frost & Sullivan included the following countries in this region: Australia, Brunei, Cambodia, Indonesia, Japan, Laos, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The research includes segmentation, including conventional and renewable power generation sources. It highlights key trends and overall impact levels that will influence the future growth of the power and energy market in the countries.

Author: Rajalingam Arikaarampalayam Chinnasamy

Table of Contents

The 2022 Power and Energy Market: Forecast vs. Actual

Top Predictions for 2023

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Power and Energy Industry

Growth Opportunities Fuel the Growth Pipeline EngineTM

Analysis Scope

Segments Included in the Study

Market Trends

Market Trends (continued)

Trend 1: Energy Security Determines Investment Decisions and Policy Initiatives in APAC

Trend 2: RE Adoption Drives New Markets and Integrated Stacks

Trend 3: Steady Increase in Grid Investments

Trend 4: Storage Will Become Essential for Grid Flexibility and Renewable Integration

Trend 5: Pace of Digital Grid Investment Increases

Trend 6: Hydrogen Moves Forward

Trend 7: CCUS Hubs Development Gains Momentum

Trend 8: Rise of Distributed Intelligence Drives Data Center Investments

Trend 8: Rise of Distributed Intelligence Drives Data Center Investments (continued)

Trend 9: Smart Electricity Meter Growth Potential

Trend 10: Solar PV—N-type Technology Dominates Future Growth

Annual Power Generation Investment Forecast

Installed Power Generation Capacity Forecast

Power Trends by Country

Power Generation Investment Outlook

Power Generation Investment Outlook (continued)

Market Forecast—Australia

Market Analysis—Australia

Market Forecast—Japan

Market Analysis—Japan

Market Forecast—South Korea

Market Analysis—South Korea

Market Forecast—Vietnam

Market Analysis—Vietnam

Market Forecast—Rest of APAC*

Market Analysis—Rest of APAC

Growth Opportunity 1: Digitalization to Strengthen Power Resiliency and Reliability

Growth Opportunity 1: Digitalization to Strengthen Power Resiliency and Reliability (continued)

Growth Opportunity 2: Grid Investments Vital to Accommodate RE Sources

Growth Opportunity 2: Grid Investments Vital to Accommodate RE Sources (continued)

Growth Opportunity 3: Rooftop Solar Deployment Accelerates

Growth Opportunity 3: Rooftop Solar Deployment Accelerates (continued)

Conclusions and Future Outlook

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Frost & Sullivan observed that 2022 was a mixed year for the APAC power and energy sector. While the region benefitted from ending COVID-19 restrictions and increased economic activity, Russia's invasion of Ukraine meant it faced new energy security challenges as commodity prices rose, particularly for liquified natural gas. This has increased the importance of renewable energy investment to mitigate higher energy costs while achieving decarbonization goals. However, it has also made coal a more critical element of the region’s energy mix, as utilities worry about an increased dependency on gas. Decarbonization will remain a focus for the area despite the use of coal, with carbon capture, usage, and storage (CCUS) and hydrogen likely to offer robust growth in the longer term as the region explores all options to decarbonize its energy mix. Grid investment will continue accelerating to facilitate renewables' development and improve the energy network's resiliency. The base year for the study is 2022, with 2020–2030 as the study period and 2023–2030 as the forecast period. Frost & Sullivan included the following countries in this region: Australia, Brunei, Cambodia, Indonesia, Japan, Laos, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The research includes segmentation, including conventional and renewable power generation sources. It highlights key trends and overall impact levels that will influence the future growth of the power and energy market in the countries. Author: Rajalingam Arikaarampalayam Chinnasamy
More Information
Author Rajalingam Chinnasamy
Industries Energy
No Index No
Is Prebook No
Keyword 1 Power Market Analysis
Keyword 2 Energy Industry Trends
Keyword 3 Apac Power and Energy Market
Podcast No
WIP Number PE44-01-00-00-00