Japan Power Market Size and Growth Overview (2025-2033)
Market Size in 2024: 965.4 TWh
Market Forecast in 2033: 1,348.5 TWh
Market Growth Rate 2025-2033: 3.50%
According to IMARC Group's latest research publication, "Japan Power Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the Japan Power Market size reached 965.4 TWh in 2024. Looking forward, IMARC Group expects the market to reach 1,348.5 TWh by 2033, exhibiting a growth rate (CAGR) of 3.50% during 2025-2033.
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How AI is Reshaping the Future of Japan Power Market?
- AI-powered smart grid technologies enable real-time monitoring and control, improving grid reliability and resilience.
- AI enhances predictive maintenance of energy infrastructure, reducing downtime and operational costs.
- Integration of AI in energy storage systems optimizes charging and discharging cycles, supporting renewable energy adoption.
- AI-driven analytics facilitates efficient energy consumption by households and industries, promoting sustainability.
- Government initiatives support AI deployment in power management, aligning with Japan's decarbonization goals.
- Companies like Mitsubishi Power and JERA leverage AI for hydrogen energy systems and energy storage innovations.
Market Growth Factors
Digitalization is also driving the Japan power market. In addition, the government has launched several initiatives to develop renewable sources. Subsidies and a suite of aggressive clean energy policies have resulted in higher public and private sector investment, increased penetration of renewable energy and energy efficiency measures, and the creation of complementary demand for smart grid, energy storage, and renewable energy technologies.
For the evolution of the power market, the share of renewable energy sources is important. The Japanese government wants non-fossil energy sources to generate 59% of the total power mix by 2030, from 31% recently. The plan seeks to increase the contribution of solar, wind, hydropower, geothermal, and biomass (SWHGB) to between 36 and 38% and therefore reduce energy dependency by diversifying energy sources.
The Japanese Basic Hydrogen Strategy prioritizes the realization of a hydrogen economy and of the energy transition. Under the strategy, the government plans to increase hydrogen and ammonia production in Japan to 3 million tons by 2030 and globally to 15 GW of water electrolysis capacity. Support from government and industry includes investment in hydrogen production, storage, and transport infrastructure, hydrogen hybrid passenger ships, and hydrogen validation facilities.
Market Segmentation
Breakup by Generation Source:
- Thermal
- Hydro
- Renewable
- Others
Breakup by Region:
- Kanto Region
- Kansai/Kinki Region
- Central/ Chubu Region
- Kyushu-Okinawa Region
- Tohoku Region
- Chugoku Region
- Hokkaido Region
- Shikoku Region
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Recent Development & News
- May 2024: Stonepeak, an infrastructure investment firm, collaborated with CHC, a Singapore-based battery energy storage system BESS developer, to progress BESS projects across Japan.
- May 2024: PAG announced the launch of PAG REN I to support Japan in achieving its solar energy targets, which include adding 108GW of solar power by 2030.
- April 2024: Mitsui O.S.K. Lines (MOL) started Hanaria, a hydrogen and biofuel hybrid passenger ship in Kitakyushu.
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