Global NEV Taxi market is projected to grow at a CAGR of 29.69% during the forecast period, to reach a market size of US$55.558 billion in 2025 from US$11.674 billion in 2019. NEV Taxis are new energy vehicles, which are partially or fully powered by electricity like Battery Electric Vehicles (BEVs) and Plug-in Hybrids (PHEVs). NEV taxis require low maintenance, reduce air pollution, and have low running costs. Environmental regulations in developed and developing countries are focusing on re Read more...
Smart electricity meter market is projected to grow at a CAGR of 33.53% during the forecast period, reaching US$15.331 billion in 2024 from US$2.705 billion in 2018. The smart electricity meter is a device that is used to accurately monitor electrical usage and send usage information to manage energy usage effectively. Factors such as favorable government policies, growing investments in smart grid projects, and rising up-gradation of infrastructure are bolstering the market growth. The marke Read more...
Smart grid software market is projected to grow at a CAGR of 23.61% during the forecast period, reaching a total market size of US$18.190 billion in 2024 from US$5.099 billion in 2018. A smart grid is a self-sufficient electricity supply network that uses digital communications technology for monitoring, control, and analysis within the supply chain and can act remotely on network incidents, improving the supply and relationship with the environment by providing reliable and efficient power s Read more...
Smart grid market is projected to grow at a CAGR of 23.62% during the forecast period, reaching a total market size of US$73.316 billion in 2024 from US$20.540 billion in 2018. The smart grid is an electricity supply network that uses digital communications technology to detect and react to local changes in usage. The smart grid market is driven by increasing adoption of distributed renewable generation and regulatory pressure for reducing carbon emission. Rapidly increasing population, urban Read more...
The energy storage market is projected to grow at a CAGR of 11.69% during the forecast period, reaching a total market size of US$39.859 billion in 2024 from US$20.535 billion in 2018. Energy storage, also referred to as electricity storage, means the storage of energy. Energy storage works by capturing energy from renewable and non-renewable sources and discharging it when necessary. This gives the user greater flexibility in the use of electricity and control in its storage. The storage helps Read more...
Solar Battery Storage is a very old practice. Initially, the cost of installation was very high. Then Tesla introduced the Powerwall Energy storage system which offered a 10-year warranty and lesser price which forced other companies to give similar offers, boosting the market for the residential storage market.Residential energy storage is a renewable form of energy which is generated through an eco-friendly process. The cost of generating power is also very low except for the initial install Read more...
High voltage direct current (HVDC) transmission is the massive transmission of electricity over long distances in the form of direct current, leading to cost saving and lesser loss as compared to HVAC transmission. The HDVC market is expected to have significant growth during the forecast period owing to the growing electricity consumption and the increasing investments in energy infrastructure. Integration of renewable energy into the HDVC system is also expected to drive the market growth in Read more...
The global PV Backsheet market is projected to grow at a CAGR of 9.97% during the forecast period. Rising solar PV installation is the major driver of the solar PV backsheet market. Growing focus on the renewable energy sector due to rising electricity prices and environmental sustainability concerns is driving the installation of solar panels which, in turn, is propelling the growth of the solar PV backsheet market. The declining cost of solar panels is further augmenting the use of solar energ Read more...
The Global Submarine Cable Market was valued at US$2.831 billion in 2018 and is projected to expand at a CAGR of 2.80% over the forecast period to reach US$3.341 billion by 2024. A submarine cable is a cable laid on the sea bed between land-based stations to carry telecommunication signals across stretches of ocean and sea. They are responsible for carrying the majority of the world’s data. With cables becoming increasingly necessary to interlink countries, the growth of submarine market Read more...
The third generation renewable energy sources market is expected to grow at a steady decent rate during the forecast period from 2019 to 2024. The evolution of renewable energy has witnessed the deployment of three generations of technologies spanning across the last 100 years. First-generation technologies, which include hydroelectricity, geothermal power and biomass, have already reached market saturation. Second-generation technologies, which are being currently deployed, include photovolt Read more...
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