The global dry type transformer market is expected to grow at a compound annual growth rate of 3.83% over the forecast period to reach a market size of US$7.531 billion in 2026 from US$5.790 billion in 2019. A dry-type transformer is a type of transformer that never uses any insulating liquid where its winding or core are immersed in liquid. Rather, the windings and core are kept within a sealed tank that is pressurized with air. A dry-type transformer does not have any rotating parts; it is Read more...
The global circuit breaker market is projected to reach US$8.196 billion by 2026, at a CAGR of 6.08%, from an estimated US$5.422 billion in 2019. The market is expected to be driven by the increasing projects of renewable energy, efficient energy infrastructure, and increasing developmental projects, as they are in turn increasing the demand for electricity consumption (especially in developing countries). Rapid industrialization and urbanization in the countries along with the use of sust Read more...
The global renewable drones’ market is evaluated at US$75.194 million for the year 2020 growing at a CAGR of 28.51% reaching the market size of US$338.691 million by the year 2026. Renewable drones are the type of drones which are used in the renewable energy industry for various purposes. The advent of drones in the renewable energy industry is still evolving with different applications emerging with time. For instance, a 4-5 acres of solar farm is needed to produce about 1MW of p Read more...
The global power management system market is evaluated at US$ 5.084 billion for the year 2020 growing at a CAGR of 7.74% reaching the market size of US$7.952 billion by the year 2026. Power management system is a system which is in charge of the electrical system and makes sure that the electrical system is safe and efficient. The system is majorly used to monitor the operations of an electrical distribution system in the given premises or an area. It further helps to optimize maintenance a Read more...
The combined heat and power (CHP) market is evaluated at US$12.152billion for the year 2019 growing at a CAGR of 14.37% reaching the market size of US$27.196 billion by the year 2025. Combined heat and power refers to an energy-efficient system that generates electricity from several types of fuels and has the ability to capture the heat that is generated and can be reused for space heating, domestic hot water, and industrial processes among others. These systems can be installed at sev Read more...
Global geothermal power market was valued at US$1.403 billion in 2019 and is expected to grow at a CAGR of 2.72% over the forecast period to reach a total market size of US$1.649 billion in 2025. Geothermal power is a stable and independent renewable power generation source which uses warm strength of the earth’s magma to generate power. Geothermal power plants utilize the steam, which is produced from hot water found below the earth’s surface, to rotate turbines that ultimately Read more...
The smart electricity meter market is evaluated at US$3.612 billion for the year 2019 and is projected to grow at a CAGR of 28.12% to reach a market size of US$20.468 billion by the year 2026. 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 anticipated Read more...
The smart grid market is estimated to attain a market size of US$92.107 billion in 2026 from US$29.336 billion in 2019, growing at a CAGR of 17.76%. The smart grid is an electricity supply network that uses digital communications technology to detect, react to local changes in usage and enable the self-healing of the network automatically after the disturbance of the power. Smart grid provides efficient and reliable power supply through various smart grid applications and technologies, thus offe 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...
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 i Read more...
