You have to define Modern Period? The question is far too vauge?
One way to define it would be - early modern period - 1500 to 1800 in Western Europe (Early modern Europe) as It is marked by the first European colonies.
Thus the expression "early modern" is sometimes, and incorrectly, used as a substitute for the term Renaissance - However, "Renaissance" is properly used in relation to a diverse series of cultural developments that occurred over several hundred years in many different parts of Europe — especially central and northern Italy — and spans the transition from late medieval civilization to the opening of the early modern period.
Artistically, the early modern is not a common designation as the Renaissance is clearly distinct from what came later. Only in the study of literature is the early modern period a standard period. Music is generally divided between Renaissance and Baroque. Similarly, philosophy is divided between Renaissance philosophy and the Enlightenment. In other fields, there is far more continuity through the period such as warfare and science.
The major power must have been Under Habsburg rule (chiefly under Charles I of Spain and Philip II of Spain), Spain reached the zenith of its influence and power, controlling territory ranging from the Philippines in Asia (named after Philip II) to the Low Countries and large areas of present day Italy in Europe, along with its American colonies. Altogether, Habsburg Spain was, for over a century, the world's greatest power. For this reason, this period of Spanish history has also been referred to as the "Age of Expansion".
The previous power, The Habsburg Monarchy (or Habsburg Empire) covered the territories ruled by the Austrian branch of the House of Habsburg (1278-1780), was at war with the Ottomans.
The Republic of the Seven United Netherlands or United Provinces in short, was a European republic between 1581 and 1795, in about the same location as the modern Kingdom of the Netherlands, which is the successor state. They had the widest influence, in modern retrospect, but was unable to dominate in Europe - thanks to thier former rulers Spain.
Likewise Spain was limiting Portugals power, despite the fact that Henry the Navigator was the initatior of this great leap to colonise the world.
Early Modern France is the early modern period of French history from the end of the 15th century to the end of the 18th century (or from the French Renaissance to the climax of the French Revolution). During this period France evolved from a feudal regime to an increasingly centralized state (albeit with many regional differences) organized around a powerful absolute monarchy that relied on the doctrine of the Divine Right of Kings and the explicit support of the established Church. France would go on to vive for power with Britian during the later Modern Period, but at this time it was tied up with internal problems.
Likewise, Early Modern Britain looked powerful during the English Renaissance. However the English Reformation followed by the English Civil War- somewhat crippled the country from domination of Europe. It was not until after the Restoration of Charles II, the Glorious Revolution, the Treaty of Union, the Enlightenment - that the formation of the First British Empire occured.
Timour the lame, and his mongal hourd dominated Asia, but the great powers of China and the middle East - Persia and the Ottomans halted his donmination of the globe, at the cost of thier own empires dominating.
Spain was super power, and Gutenberg, - printing- was the technology which transfered the power balance towards Europe from Asia.