Energy Transition Market Growth
Electrification vital to decarbonize the world
Investment in electrification is accelerating
Addressable market for GE Vernova Electrification
> 2x
~$175B
Grid orchestration
Electrification
Software
Grid distribution
EGE VERNOVA
Serving the key levers to reach Net Zero-a)
>50GT CO2 eq. emissions to be reduced by 2050
Decarbonize
power generation
26%
.
Renewable power transmission & distribution
Secure grid to integrate variable energy
resources
~$75B
Power Grids
+10% CAGR
Grid transmission
Electrification
Systems
Energy efficiency
•
Automation & controls, digitization
23%
•
Energy management systems
Electrify end-uses
.
22%
•
Electrify fossil-energy intensive industries
• Power access for new demand sources
Power conversion
& storage
Power-to-X
+13% CAGR
Power generation &
manufacturing
Electrification
Software
Low carbon fuels
and carbon capture
29%
Providing microgrids for electrolyzers
(green hydrogen, e-methanol/ammonia)
2022
2030
Substituting technologies powered by fossil energy with technologies that use electricity
© 2024 GE Vernova and/or its affiliates. All rights reserved.
(a - source: Boston Consulting Group, "A blueprint for energy transition", 2023; percentages refer to each lever's relative contribution towards achieving Net Zero
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