As of June 2022, around **** percent of Generation-Z consumers in China had a monthly online spending power of between 1,000 and 1,999 yuan. Over ** percent of Gen-Zs were capable of spending more than 2,000 yuan online, up by *** percentage points compared to last year.

In 2023, the average expenditures in a household led by a Millennial in the United States came to ****** U.S. dollars per year. The only generation with higher expenditures were households led by someone from Generation X with around ****** U.S. dollars per year.

According to a 2024 survey, millennials made up the largest share of consumers globally who mostly shopped for beauty products online (** percent). Gen Z (** percent) and Gen X (** percent) consumers followed, while around ** percent of Baby Boomers did so.

Doubling the money The online beauty and personal care market worldwide generated a revenue of about **** billion U.S. dollars in 2022, with China, the United States, and Japan being the three biggest markets. The cosmetics market is the fastest growing segment of the beauty market worldwide and is estimated to incur almost double its current revenue by 2027. In 2023, around *** million people around the world purchased beauty products online. This number is expected to increase to over *** billion by 2027.
Trending on TikTok With social media becoming more and more prominent, especially in younger generations, it is not a surprise that more people also engage in social commerce and purchase beauty products from apps. In the United States, TikTok has become the leading social media platform for purchasing various beauty items, followed by Instagram and Facebook. On TikTok, content creators and brands promote sales in two main ways, video sales and live sales. The majority of app-based sales are made through live sales, which refer to livestreams that promote products and offer shopping links. It is easy to see how popular beauty products are on TikTok from the number of views they receive, with Dyson, Cerave, and The Ordinary being the most popular beauty brands.

Millennials were the leading customer groups of personal luxury goods, accounting for ** percent of all luxury goods spending worldwide. Born between 1961 and 1996, Millennials, or Gen Y, also represents the second-largest group with the highest disposable income in the United States. How do Millennials and Gen Z engage with luxury goods and services? With their increasing share in employment and wealth creation, younger generations play an increasingly important role across consumer industries worldwide. As digitally savvy generations, they not only use online channels to make purchases, but also research, follow, and get inspiration for new styles and brands. According to the results of a recent survey, luxury consumers aged between 19 and 41 were more keen on engaging with brands on social media, such as following an influencer or sending private messages to brands. State of the personal goods industry Worldwide, the personal luxury goods market remains relevant after bouncing back from the economic downturn of 2020. Based on Statista’s Consumer Market Insights, the personal luxury goods market was worth over *** billion U.S. dollars in 2024. The country spearheading the luxury goods revenue was the United States. U.S. consumers were also the main customers of the luxury goods industry, as one-third of the market revenue came from American nationals making luxury goods purchases.

Consumers from Generation Z appear particularly concerned about the economy. Over 90 percent of Gen Z consumers are worried about their personal financial situations and nearly half (40 percent) of them are taking action to keep up with inflation.

As of 2024, patriotism in the United States varied greatly by age. According to a survey, 21 percent of those between 18 and 34 years of age considered themselves extremely proud to be American. In contrast, about half of respondents 55 and older considered themselves extremely proud to be American. Politics of Generation Z In 2024, the oldest members of Gen Z were turning 27 years old. Their political views have been developed against the backdrop of COVID-19, social unrest and police brutality, Donald Trump, and the global climate crisis. Along with Millennials, they were the most likely to describe themselves as Independent rather than loyal to a particular political party, and the least likely generation to be Republican. Gen Z have lower trust in government than previous generations and are more likely to worry about wages than any other generation. Combined with a decreased purchasing power compared to other generations at similar points in their careers, this perhaps provides insight into Gen Z's reticence when it comes to American exceptionalism. Gen Z as consumers Members of Gen Z are unlike any other bracket of consumers in the United States. Born into a digitized world, they are the most tech-savvy consumers yet. While they are more likely to shop online than any other generation, they are significantly more motivated by their personal values and happy to explore new products. Companies will need to maintain a consistent brand-image to keep Gen Z shoppers on board – given the Zoomers decreased brand loyalty, and increased inclination to buy secondhand products.

Regular consumption of energy drinks is not seen among the oldest generation in the UK, according to Statista's Global Consumer Survey. However, around ** percent of Millennials said they drink energy drinks regularly. The share of Gen Z was comparatively lower at ** percent.

Iceland is by far the largest per capita consumer of electricity worldwide, averaging 51.9 megawatt-hours per person in 2024. This results from a combination of factors, such as low-cost electricity production, increased heating demand, and the presence of energy-intensive industries in the country. Norway, Qatar, and Canada were also some of the world's largest electricity consumers per capita that year. China is the leading overall power consumer Power-intensive industries, the purchasing power of the average citizen, household size, and general power efficiency standards all contribute to the amount of electricity that is consumed per person every year. However, in terms of total electricity consumption, a country's size and population can also play an important role. In 2024, the three most populous countries in the world, namely China, the United States, and India, were also the three largest electricity consumers. Global electricity consumption on the rise In 2023, net electricity consumption worldwide amounted to over 27,000 terawatt-hours, an increase of 30 percent in comparison to a decade earlier. When compared to 1980, global electricity consumption more than tripled. On the generation side, the world is still strongly dependent on fossil fuels. Despite the world's renewable energy capacity quintupling in the last decade, coal and gas combined still accounted for almost 60 percent of global electricity generation in 2023.

Generation Z smart wearable users in the United States are forecast to increase and close the gap with generation X users by*********. As generation Z increases its spending power by entering the workforce, technological advancements are adopted, especially with the smart wearable device segment. Millennial users will be leading the market with steady growth as leaders in this segment.

In 2023, approximately 14.45 trillion cubic feet of natural gas were consumed for electricity generation and useful thermal output in the United States. This was the highest figure in the period of consideration.

As of 2024, approximately 3,349 gigawatts of electricity generation capacity had been installed in China. This was up from some 3,000 gigawatts the previous year and follows a trend of steady growth over the past decade. Thermal power, the majority of which is coal-based, is the energy source with the greatest power generation capacity in the country. China's surging energy demand China is known to be the most populated country in the world. The country's population growth coupled with rapid economic development has created a huge burden on energy requirements in the country. In less than two decades, energy consumption of China tripled, from less than 43 million exajoules to over 170 exajoules in 2023. Renewable capacity additions In order to cope with the growing energy demand, China has been increasing its capacity and overall generation volume of electricity from a diverse range of energy sources. Although most of this growth came from thermal power, which has been the main source of energy in China for a long time, renewables are expected to make up around 50 percent of total installed capacity by the end of 2022. Deployment of wind and solar farms has been particularly strong in the last few years and comes after President Xi announced in 2021 that China would aim to become carbon neutral by 2060.

The United States is the largest consumer of nuclear power, accounting for almost 30 percent of the world’s nuclear power consumption in 2023. That year, nuclear energy consumption in the U.S. totaled 7.3 exajoules. Nuclear power generation In 2010, global nuclear power generation reached 2,630 terawatt-hours. Following the Fukushima nuclear disaster in March 2011, that year saw an output drop. Generation also declined in 2012 but has since recovered, peaking at 2,657 terawatt-hours in 2019. Currently, nuclear power accounts for roughly nine percent of global electricity generation. Nuclear reactors As the top producer of nuclear power, it comes as no surprise that the U.S. has by far the most operable nuclear reactors worldwide. With a total of 94 units in operation as of May 2024, this is almost 40 more than in China. Nevertheless, whilst the U.S. had no planned nuclear reactor additions at the time, China had 41. The Asian country also had 25 nuclear reactors under construction. It is projected that China will surpass the U.S. as the world’s largest nuclear energy producer.

Iceland is by far the largest per capita consumer of electricity worldwide, averaging 53.9 megawatt-hours per person in 2023. This results from a combination of factors, such as low-cost electricity production, increased heating demand, and the presence of energy-intensive industries in the country. Norway, Qatar, and Canada were also some of the world's largest electricity consumers per capita that year. China is the leading overall power consumer Power-intensive industries, the purchasing power of the average citizen, household size, and general power efficiency standards all contribute to the amount of electricity that is consumed per person every year. However, in terms of total electricity consumption, a country's size and population can also play an important role. In 2023, the three most populous countries in the world, namely China, the United States, and India, were also the three largest electricity consumers. Global electricity consumption on the rise In 2023, net electricity consumption worldwide amounted to over 27,000 terawatt-hours, an increase of 30 percent in comparison to a decade earlier. When compared to 1980, global electricity consumption more than tripled. On the generation side, the world is still strongly dependent on fossil fuels. Despite the world's renewable energy capacity quintupling in the last decade, coal and gas combined still accounted for almost 60 percent of global electricity generation in 2023.

Fossil fuels remain the greatest source of electricity generation worldwide. In 2023, coal accounted for roughly **** percent of the global power mix, while natural gas followed with a ** percent share. China, India, and the United States accounted for the largest share of coal used for electricity generation. The future of renewable energy Fossil fuel use notwithstanding, the share of renewables in global electricity has seen a more pronounced year-on-year growth in recent years, following increased efforts by governments to combat global warming and a decrease in levelized costs. Projections indicate that renewables will surpass fossil fuels as the main power source by 2040. Electricity consumption in the world China is the largest electricity consumer in the world, requiring more than ***** terawatt-hours of electricity every year. However, this economic power accounts for the largest population in the world and its electricity consumption per capita is almost tenfold smaller than the consumption of Iceland, although the power used in this country came almost completely from clean sources.

China consumes by far the most electricity of any country in the world, with more than 8,000 terawatt-hours equivalent consumed in 2023. The United States ranked as the second-leading electricity consumer that year, with over 4,000 terawatt-hours consumed. India followed, but by a wide margin. Large population, high consumption? The world's top three electricity consumers constitute the countries with the largest population. India has the largest population with over 1.4 billion people, while consuming less than one fifth of the electricity of China. Meanwhile, countries such as Pakistan and Nigeria, which boasted the fifth and sixth-largest population size worldwide, did not rank among the top 20 electricity consumers. GDP and electricity consumption Countries with a high GDP per capita like the United States provide their residents greater average purchasing power. Countries with higher-income residents tend to be more urbanized, leading to higher electricity consumption. The U.S. stands among the ten-largest electricity consumers per capita in the world, with Iceland and Norway leading the ranking.

The results of this survey in the Netherlands indicate that respondents between 14 and 39 years of age consumed more energy drinks than respondents in the Generation X and Baby boomer generations. Close to 30 percent of Millennials consumed energy drinks in 2021, while approximately 46 percent of respondents of Generation Z did so.

The domain of interest is Energy; however, the focus is to observe the trends between the different sources used for electricity generation among Canada and its provinces from 2005 to 2016, and to compare the trends for electricity generation to electricity consumption in Canada from 2005 to 2015. The main problem that will be investigated is how much of a particular source is used for electricity generation in Canada over these eleven years and what is the least and most used source of electricity generation over Canada. It will also be observed whether the proportion of electricity generated by each source in Canada during 2016, is consistent with the proportion of electricity generated by each source in every province. Additionally electricity consumption for the provinces will be studied to determine which province consumes the most and least amounts of electricity in Canada. The significance of this problem is to understand which sources are highly used to generate electric power in the provinces and in Canada. If a source is being used the most in Canada and in the provinces, it will lead us to find possible ways to generate electricity from the least used sources, so the country and its provinces do not depend on one source for electric power. It will also be observed if the electricity generation by each province has increased, decreased or remain constant from 2005-2016. From this data we can also infer which province generates the most and least amount of electric power and determine which abundant resources are available to each province for its electricity generation. Moreover, by comparing the trends for electricity consumption and electricity generation it will be observed if any province consumes more electricity than it generates. If so we can find ways to provide that province with more electrcity by importing it from other provinces.

According to Cognitive Market Research, the Power Generation Market Size will be USD XX Million in 2024 and is set to achieve a market size of USD XX Million by the end of 2033 growing at a CAGR of XX% from 2025 to 2033.

North America expected to generate revenue of XX%.

Europe expected to generate revenue of XX%

Asia pacific is projected to reach XX BY 2030 .

Latin America expected to generate revenue of XX%

Middle East africa expected to generate a revenue of XX%

South America expected to generate a revenue of XX%

Market Dynamics

Key Driver

Rapid urbanization and industrialization is creating the global demand of power generation market 

With growing urbanization and industrialization, the power requirement is increasing day by day depending upon usage pattern, End Requirement for instance Urban areas in India experience a significantly higher per capita electricity consumption compared to rural areas. This is due to factors like higher urbanization rates, more industrial activity, and a greater reliance on air conditioning and other power-intensive appliances. For instance, Per capita electricity consumption in India has surged to 1,395 kWh in 2023-24, marking a 45.8% increase (438 kWh) from 957 kWh in 2013-14.

Similarly with industrialization caused huge power consumption The manufacturing industry, particularly sectors like chemicals, metals, and paper, are the largest consumers of energy in India. According to British thermal unit chemical industry, Petroleum industry, Paper industry, Metal industry uses 16.9 quadrillion of power

Recent data shows that Global electricity consumption it grew faster than its historical trend (+2.2% in 2023), spurred by the BRICS (+5.1%), which accounted for 42% of the global energy consumption in 2023: energy consumption surged in China (+6.6%, twice its 2010-2019 average), India (+5.1%, slightly faster than the historical average), accelerated in Brazil (+3.3%, vs. +0.9% per year over 2010-2019), but it stagnated in Russia (+0.3%) and declined again in South Africa over supply issues (-1.2%). It also increased in the Middle East (+3.7%, with strong growth in Iran and the UAE), as well as in Algeria, Vietnam, and Indonesia.

Source - https://www.pib.gov.in/PressReleasePage.aspx?PRID=2089243

https://beeindia.gov.in/sites/default/files/BEE_India_Energy_Scenario_Report-2024_web_version-rev2.pdf

https://consumerenergysolutions.com/what-industries-consume-most-electricity/

https://yearbook.enerdata.net/total-energy/world-consumption-statistics.html

Sustainable Practices creating market opportunities for Power Generation 

Sustainable practices increase the demand for power generation by driving demand for renewable energy sources and creating new avenues for energy production. It involves extracting maximum renewable energy utilization. At the UNFCCC's COP28, 130 countries pledged to triple the world's renewable energy capacity and double the annual rate of energy efficiency improvements by 2030.The revised EU Renewable Energy Directive of 2023 sets a new target of 42.5% of renewable energy by 2030 and aims for 45%. Member States have since submitted their renewable energy targets for sub-sectors including transport, buildings and industry. Similarly in India policies like the Jawaharlal Nehru National Solar Mission (JNNSM). This was started in 2010 and the goal of this program is to transform India into a solar power hub by establishing a sound environment for the generation of solar energy. The mission was set at 20 GW of solar capacity by 2022, but due to the fast-growing solar industry, the mission has been adjusted to 100 GW. Also Big investors are coming and investing in this renewable energy market like recently Adani has signed an agreement for 400 MW of solar power in UP In India certain initiatives government have created in order to lead the country towards less carbon emissions and more towards green energy initiatives. Certain schemes devised by Government are as following PM Surya Ghar, Muft Bijli Yojana, National Green Hydrogen, Mission According to PM Surya Ghar yojana average monthly consumption of 150 units subsidy support of 30,000 to 60,000 provided by government Similarly for 150-300 units consumption subsidy amount is increased to 60,000 to 78,000. So, because of this it is driving the consumer behavior from nonr...

The leading countries for installed renewable energy in 2024 were China, the United States, and Brazil. China was the leader in renewable energy installations, with a capacity of around 1,827 gigawatts. The U.S., in second place, had a capacity of around 428 gigawatts. Renewable energy is an important step in addressing climate change and mitigating the consequences of this phenomenon. Renewable energy capacity and productionRenewable power capacity is defined as the maximum generating capacity of installations that use renewable sources to generate electricity. The share of renewable energy in the world’s power production has increased in recent years, surpassing 30 percent in 2023. Renewable energy consumption varies from country to country. The leading countries for renewable energy consumption are China, the United States, and Canada.Renewable energy sourcesThere are various sources of renewable energy used globally, including bioenergy, solar energy, hydropower, and wind energy, to name a few. Globally, China and Brazil are the top two countries in terms of generating the most energy through hydropower. Regarding solar power, China, the United States, and Japan boast the highest installed capacities worldwide.

Petroleum is the primary source of energy in the United States, with a consumption of 35.35 quadrillion British thermal units in 2024. Closely following, the U.S. had 34.2 quadrillion British thermal units of energy derived from natural gas. Energy consumption by sector in the United States Petroleum is predominantly utilized as a fuel in the transportation sector, which is also the second-largest consumer of energy in the U.S. with almost 30 percent of the country’s total energy consumption in 2024. This figure is topped only by the energy-guzzling industrial sector, a major consumer of fossil fuels such as petroleum and natural gas. Renewable energy in the United States Despite the prevalence of fossil fuels in the U.S. energy mix, the use of renewable energy consumption has grown immensely in the last decades to approximately 11 exajoules in 2023. Most of the renewable energy produced in the U.S. is derived from biomass, hydro and wind sources. In 2024, renewable electricity accounted for approximately 24 percent of the nation’s total electricity generation.