Global Ultra-Mega Power Projects Construction Market Driven by Rising Electricity Demand.

Transparency Market Research, in a research report titled “Ultra Mega Power Projects (UMPP) Construction Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023”, documents the dynamics of the global large scale power projects construction market in terms of historical data and future scope of growth.

The key driver for the growth of the global large scale power projects construction market is the increasing demand for electricity. Power consumption has been consistently increasing due to factors such as increase in global population, rapid rate of industrialization in developing nations, and modernization of consumer trends.

Another advantage that the global large scale power projects construction market can offer is the relatively lower pricing of electricity. Large scale power projects are generally extensive in size and have a minimum power generation capacity of 4,000 MW.

The global large scale power projects market, however, witnesses the major challenge of high initial costs associated with installation and procurement of resources. The market is also considerably hampered by the impact large scale power projects can have on the environment.

The first large scale power project was installed in Labrador, Canada in 1971, which generates 5,428 MW. It is owned by the Churchill Falls Labrador Corporation Limited. Other large scale power plant projects include the Guri hydroelectric dam, the Xiluodu hydroelectric dam, and the Itaipu hydroelectric dam.

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One of the more prominent large scale power projects being constructed currently is the Ultra Mega Power Project in India. Another large scale power project construction is being undertaken by China. The governments of both nations have provided assistance in the form of subsidies, public clearances, financial assistance, other approvals, and the adoption of plug and play models in order to speed up the process of finishing the UMPP and other such projects. This is a substantial addition to the positive reinforcement required to improve the global large scale power projects market.

The global large scale power projects market is segmented on the basis of technology and geography. The global large scale power projects market is also divided into projects that use renewable and non-renewable resources. The sources of power generation may include hydro power, wind power, solar power, nuclear energy, and coal.

From a geographical perspective, the global large scale power projects market is currently dominated by Asia Pacific, due to the heavy activities conducted by India and China.

Key players in the global large scale power projects market are Tokyo Electric Power Co. Inc., Tata Power Co. Ltd, Taiwan Power Company , Saudi Consolidated Electric Company, RusHydro JSC, Reliance Power Ltd., PGE Polska Grupa Energetyczna SA, Ontario Power Generation Inc., LongTan Hydropower Development Co. Ltd., Itaipu Binacional, Chubu Electric PowerCo. Inc., CVG Electrificación Del Caroní CA, Centrais Elétricas Brasileiras SA, and China Three Gorges Corporation.

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