As the North American power market evolves and competition intensifies, it is becoming increasingly important for market participants to accelerate innovation and develop sustainable growth strategies. This Frost & Sullivan study provides a perspective on key trends driving growth in the North American power market. Globally, governments are looking for solutions across sectors to mitigate climate change and support decarbonization, and the renewable energy, carbon capture storage and utilization (CCSU), digitalization, electrification, energy storage, and hydrogen markets hold the most significant opportunities.
The route to decarbonization requires supportive regulatory frameworks that mandate energy efficiency and emission reduction measures across all sectors. To achieve a low-carbon future, significant changes are required. Following the latest COP summit, more than 100 countries pledged their commitment to net-zero emissions by 2050. In North America, Canada announced emissions pledges to reduce total greenhouse gas (GHG) emissions by 40-45% from 2005 levels by 2030, and the United States aims to cut emissions in half by 2030 (50-52% from 2005 levels).
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