Railway Equipment Market expected to reach US$120.457 billion by 2030

Railway Equipment Market Trends & Forecast

The railway equipment market is estimated to reach USD 120.457 billion by 2030, registering a CAGR of 4.10% from 2025 to 2030, according to a new report by Knowledge Sourcing Intelligence. The market is propelled by increased urbanization, demand for cleaner and more efficient transportation, and government investments in infrastructure development. Technological improvements like the advent of automation and electrification are poised to advance market development by improving operational efficiencies and addressing safety needs

There is increasing investment in railway infrastructure in various countries to meet the demand for transportation and to have a robust network of rails in their country. The widespread use of railways as a mode of transportation is the main factor that is driving investment in this sector by the government. Also, there is increasing technological advancement in the rail systems such as high-speed rails, urban transit systems, Electric multiple units and others.

The railway equipment market includes a wide range of products and services required for building, operating, and repairing rail networks. They encompass locomotives, passenger coaches, freight vehicles, signals, track components, and maintenance equipment. Passenger and goods train operators apply these techniques for safe, efficient, and reliable operations.

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Railway Equipment Market Report Highlights

  • Rolling Stock led the market in 2023, capturing the largest and dominant market due to its broad scope and critical role in rail operations.
  • The railway infrastructure is growing at a robust rate due to massive investment in the railway.
  • Locomotives are growing at a higher rate, with a shift towards energy-efficient and autonomous locomotives. The locomotive is an essential component of the train system; it is a special vehicle that powers the entire train set. It refers to a self-contained rail car fueled by either gasoline or electricity. The function of this equipment is to push or pull trains to facilitate the translocation of goods and passengers.
  • Autonomous trains are progressing as a new method of improving train usage in cities and urban areas, which is still reliable. Real-time data transmission systems and superior sensor technology are driving the development of autonomous trains in the locomotive business.
  • One of the primary factors driving global railway equipment market expansion is rising expenditure in the railway industry by various countries to increase income from this sector. Furthermore, the widespread use of railways as a mode of transportation is driving investments in developing and improving existing infrastructure and equipment, supplementing demand for various types of railway equipment and contributing to market growth in the coming years.
  • There are growing technological advancements in rail systems.  Urban transit systems, such as metros and light rail, cater to densely populated areas by offering frequent and reliable transportation. Electric multiple units (EMUs) are widely used in metro networks due to their efficiency and ability to handle frequent stops over short distances.
  • Asia Pacific will be the fastest-growing market during the forecast period, driven by huge population, industrialization and urbanization and investment in railways in countries like China and India.
  • North America is anticipated to see considerable growth, fueled by a continuous rise in consumer demands, better passenger safety measures, and technology and operational breakthroughs that have also contributed to passenger train services in the region.

Railway Equipment Market Segmentation

Knowledge Sourcing Intelligence has segmented the global Railway Equipment Market based on product type, application, and region:

Railway Equipment Market, By Type

  • Rolling Stock
  • Infrastructure
  • Components
  • Others

Railway Equipment Market, By Application

  • EMU
  • DMU
  • Locomotives
  • Coaches
  • Others

Railway Equipment Market, By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE

Railway Equipment Market Key Players

  • CRRC Corporation Limited
  • Siemens
  • Alstom
  • HYUNDAI MOTOR GROUP
  • Wabtec Corporation
  • Mitsubishi Electric Corporation
  • Kawasaki Heavy Industries, Ltd.
  • Hitachi Rail Limited
  • voestalpine Railway Systems GmbH
  • Escorts Limited
  • Bombardier
  • Advanced Rail Management
  • Enviri
  • Trinity Industries
  • Rail Vikas Nigam Ltd

Marine Paints for Offshore Structures: Enhancing Durability and Protection

Marine paints are a form of specialized coating material, that is designed to protect various marine structures and vessels from harsh environmental environments. Marine paints are formulated to withstand various marine conditions, like saltwater, UV radiation, and extreme weather conditions. These paints also ensure the longevity of the vessels and marine structures and provide a protective barrier against corrosions, abrasions, and fouling.

The Marine paints offer key applications in offshore structures. In the offshore structure, the marine pains help protect the structures from harsh marine environments, which include saltwater, UV radiation, and extreme weather. In offshore structure applications, marine paints also offer multi-layered designs, which provide comprehensive protection against environmental degradation and corrosion among other effects.

The benefits of marine paint in offshore structures are as follows.

Benefits:

  • Corrosion protection: The major function of marine paints is to prevent rust and metal deterioration of the marine structure and vessels, by forming a protective layer or barrier against corrosive agents like saltwater.
  • UV Resistance: The marine paints also feature enhanced capabilities in protecting the vessels and structures from sun damage, and help in maintaining the aesthetic appeal of the vessels.
  • Improves performance: The marine paints also help in enhancing the performance of the marine vessels, as it helps in reducing the drag, and simultaneously reducing the environmental impacts.
  • Cost-effectiveness: The marine paints offer cost-effectiveness to the structure operators, as it reduces the maintenance cost, by extending the service life of the structure.

Types of marine paints used in offshore structure applications.

  • Primers: In the primer category, zinc-rich primers and inorganic zinc silicate primers are utilized in the offshore structure application. The zinc-rich primers are commonly utilized as the first layer to protect the metal structure, whereas the inorganic zinc silicate primers offer a strong adhesion.
  • Intermediate coats: As an intermediate coat, epoxy coating is utilized for offshore structure application, as it ensures a dense barrier against water and various chemical penetrations.
  • Topcoats: For topcoats, aliphatic polyurethane paints and polysiloxane coating are utilized, which offers protection against UV radiation and corrosion resistance.

The growing demand for the offshore energy sector and the introduction of strict environmental regulations are among the key factors propelling the growth of the global marine paints demand in the offshore structure application.

1. Increasing demand for the offshore energy sector

A major factor propelling the increase in the application of marine paints in offshore structures is the growing deployment and installation of offshore energy across the globe. The increasing offshore energy sector is estimated to expand the development of offshore energy infrastructures, increasing the demand for marine paints during the estimated timeline. These paints and coating offer protection of such infrastructures from corrosion and environmental degradations.

The global deployment and development of offshore energy sector witnessed a major growth over the recent few years. The National Renewable Energy Laboratory, or NREL of the USA, in its report, stated that the US offshore wind energy pipeline witnessed a growth of about 53%, or about 27,836 MW, reaching a total generating capacity of 80,523 MW in May 2024. The agency further stated that in the nation, the proposed generating capacity of the US offshore wind energy in the Gulf of Maine is estimated at 15,702 MW, whereas the potential generating capacity in mid-Atlantic and Oregon is estimated at 4,499 MW and 3,156 MW respectively.

Offshore Wind Energy Potential Generating Capacity in USA, MW, 2024

offshore wind energy potential generating capacity

Source: National Renewable Energy Laboratory

The agency also stated that the investment in the offshore energy sector also witnessed major growth in the nation. The agency stated that the Government of the US aims to set up the first commercial-scale offshore wind power plant, with a capacity of about 132 MW, in the South Fork Wind Farm of Rhode Island. Similarly, another projected commercial-scale offshore power plant, with a capacity of 806 MW in the Vineyard Wind 1 project.

2. Expansion of the global shipbuilding and repair activities.

The growth of the global shipbuilding and repair sector is among the key factors pushing the demand for marine pains for offshore structure applications. With the growing shipbuilding and repair sector across the globe, the construction of offshore infrastructure has increased significantly. The global shipbuilding sector witnessed a major growth over the recent few years. The US Naval Institute, in its report, stated that the total target of the shipbuilding is aimed at 381 ships in 2024.

Similarly, the Ministry of Ports, Shipping, and Waterways, of the Indian Government, stated that the total number of ships built and delivered in India reached 206 in 2022-23, compared to 78 ships built and delivered in 2919-20. The agency stated that in 2020-21, a total of 69 ships were built and delivered in the nation, which surged to 113 in 2021-22.

3. Advancement in marine paints technology

The demand for marine paints for offshore structure applications is estimated to witness major growth during the next few years. The increasing technological advancement in the marine paints sector is among the major factors pushing the growth of the market, as the introduction of key innovation, like integrating nano-healing and nano-coating technology in these paints, is estimated to enhance the longevity and performance of the marine paints in the offshore infrastructure.

Marine Paints Market Key Developments

  • In November 2024, Iberdrola, S.A., a Spanish multinational electric utility company, announced its investment in the offshore wind coating start-up, RTS. The investment aims to develop innovative and advanced coating materials for offshore wind and energy sectors. The company also aims to promote the production and sale of innovative solutions related to the manufacturing of insulation and anti-corrosion coatings.

The demand for marine paints for offshore structure application is estimated to witness a significant increase, mainly as these paints offer key benefits, like protection from UV radiations, corrosions, and abrasions to the metals used in the infrastructures. Moreover, the increasing demand for the offshore energy sector and growth of the shipbuilding & repair activities are also among the key factors pushing the application of marine paints in offshore structures.

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Thermal Energy Storage for Solar Power: Maximizing Efficiency and Output

Solar energy has become an important part in the world’s transition to renewable energy and provides a clean, abundant, and sustainable substitute for fossil fuels. However, with intermittency and availability of sunlight practically during the day, and disappearing at night, or through clouds, this has led to the energy enduring a challenge in its broader acceptance. This limitation is being overcome by storing excess energy during sunny hours when the sunshine is maximum, and discharging it when otherwise solar input is low or absent, be it nighttime or under cloudy skies. Thermal Energy Storage (TES) generates more efficient, reliable, and usable solar energy possible by decoupling energy generation from demand, especially in Concentrated Solar Power (CSP) plants.

TES systems indirectly store thermal energy by a diverse (heat or cold) medium from which heat can later be released for electricity generation, heating, or cooling. An effective TES system will be characterized by heat capacity of the storage medium, the ability of the system to store energy over long or short periods of time, heat transferability of the system, and further, operational temperature range. This elaborates on three TES principles practically: sensible heat storage, latent heat storage, and thermochemical heat storage. These three technologies function over a range of temperatures for different periods and hence may fulfill the needs of several energy systems.

Sensible Heat Storage- This method is based on raising or lowering the temperature of a medium (liquid or solid) such as water, sand, molten salts, graphite, or rocks in order to store and later use that thermal energy for applications between low temperature and very high temperature. Sensible heat commonly fills the role for TES, thus bringing about commercial practice ranging from the residential to the industrial scale. The storage temperatures for this process range from less than 0 to over 2400 °C, with their application durations ranging from a few minutes to a few months in cases such as low-temperature storage that utilizes underground water storage.

Latent Heat Storage- It utilizes a phase-change material that absorbs and stores thermal energy at a constant temperature during off-peak hours by melting and releasing the stored thermal energy during peak demand time as it solidifies. It is able to store heat at temperatures ranging from <0 °C and up to 1600 °C for a duration of hours to days.

Thermochemical Storage- The thermochemical storage works in two ways: chemical reactions and sorption processes. In the first case, energy is retained as the heat of reaction of reversible reactions; in the latter case, thermal energy is stored by physically bonding (adsorption) or being dissolved (absorption) by the working medium. TCS technologies can store thermal energy at temperature ranges of < 0 °C up to about 900 °C, usually for the duration of hours to days and at potentially months.

Furthermore, as TES solution allows the preservation of heat for later use, for instance, in on-demand electricity or in industrial processes. Concentrating solar-thermal power plants utilize TES as peakers, baseloads, or continuous sources of solar industrial process heat; thus, making them flexible by offsetting or replacing conventional fuel combustion.

Moreover, the TES mechanisms can be integrated with concentrating solar power systems. In CSPs, solar radiation focused onto a receiver generates the heat required for subsequent high-temperature applications. Unlike photovoltaic systems, which convert sunlight into electricity directly, CSP uses the thermal energy to be stored and can be converted to electricity using steam or gas turbines. Further, TES allows the operation of CSP as dispatchable power sources that can provide electricity elsewhere than when the sun shines. There is growing innovation in the TES mechanism utilized for solar power generation. For instance, in January 2025, CST Researchers of Khalifa University of Science and Technology developed a perovskite blend to enhance the performance of solar thermochemistry and redox cycleability for lowering solar fuels and thermal energy storage costs, which was revealed at the 30th SolarPACES Conference.

Moreover, Noor Energy 1 added 400 MW this 2023, increasing the capacity of the world’s largest CSP plant in the United Arab Emirates, thus bringing the total global installed CSP capacity to 6.7 GW, where 6.3 GW was accounted for in the previous year i.e. 2022, as stated in the Renewables 2024 Global Status Report collection, Renewables in Energy Supply data. Moreover, as of the end of 2023, China has reported 40 new CSP projects at different construction and commissioning stages.

Increase in Concentrated Solar Thermal Power (CSP) Installed Capacity Globally, in Gw, in 2022 and 2023

Increase in Concentrated Solar Thermal Power Installed Capacity globally

Renewables 2024 Global Status Report collection, Renewables in Energy Supply

Additionally, TES is progressively combined with PV beyond CSP, particularly in hybrid forms, such as powering resistive heaters with excess PV electricity to charge thermal storage media like sand or concrete, releasing heat later on for district heating or industrial use.

In September 2024, researchers at the National Renewable Energy Laboratory (NREL) demonstrated a new long-duration thermal energy storage technology, sand as the storage medium, for 100 hours. The ultimate goal is to provide storage at the cost of pumped hydro, with a Levelized Cost of Storage (LCOS) of $0.05/kWh. It heats the sand using a series of heating elements, much like a toaster, so it can later discharge heat or power for 100 hours.

Furthermore, the ongoing research deals with advanced TES materials and technologies that can use or withstand higher temperatures while still keeping cost low. In addition, improving the efficiency and durability of TES systems is also of utmost importance in the growing research by diverse organizations, and market players.

In August 2024, the US Department of Energy funded a demonstration of GeoTES (Geologic Thermal Energy Storage), a novel climate technology that stores concentrated solar heat for long durations. A full-scale validation is to be undertaken at a 5-acre site near Bakersfield, California, with parabolic trough solar collectors gathering the sun’s energy every day, which will enable the technology to supply energy for 40 days of 24-hour periods or 80 consecutive nights at a time for testing and operation at a depleted oil reservoir underground.

Similarly, Synhelion invented the technology to produce solar fuels day and night in 2024. This minimizes the production of CO2 and greatly helps the transportation industry to be net-zero. The proprietary technology of the company developed solar fuels and uses high-temperature thermochemical processes to convert solar energy into renewable fuels through “Sun-to-Liquid.” As production is not around for 24 hours, the solar energy storage is important for optimized and cost-effective production and provides thermal energy storage solutions for solar energy storage.

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Proppants Market expected to reach US$14.317 billion by 2030

Proppants Market Trends & Forecast

The global Proppants market size is estimated to reach US$14.317 billion by 2030, registering a CAGR of 9.97% from 2025 to 2030, according to a new report by Knowledge Sourcing Intelligence. The increasing production of crude oil and natural gas is among the key factors propelling the growth of the global proppant market, as the proppants are utilized to hold open fractures after generating conduits for oil and gas.  The growing advancement in hydraulic fracturing technology is also among the key factors propelling the growth of the global proppants market during the estimated timeline.

The global hydraulic fracturing technology and proppant materials sector witnessed the introduction and development of the latest technology, like resin-coated and ceramic proppants, which helps enhance the efficiency and durability of the fracturing process. Growth of the fracturing technology is also among the key factors propelling the growth of the market. The introduction of key technologies, which include technologies like horizontal multistage fracturing, also enhances the efficiency of hydraulic fracturing operations.

The proppants offer their application across multiple sectors, like hydraulic fracturing, shale gas extraction, tight gas & oil extraction, and enhanced oil recovery among others.  The proppants are also utilized in gravel packing, as the proppants control sand production, and maintain well productivity. The introduction of key governmental policies and investment in the oil and gas sector is also among the major factors pushing the growth of the market during the estimated timeline. Various countries across the globe, like India, the USA, and China, have introduced key investments and introduction of policies to boost oil and gas production and exploration, pushing the proppant market.

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Proppants Market Report Highlights

  • The frac sand proppants category of the type segment is estimated to attain greater market share by 2030, as the frac sand proppants offer cost-effective solutions across multiple industries.
  • The rising global demand for oil and gas, majorly in emerging economies, is among the major factors propelling the growth of the market. The demand for oil and gas witnessed major growth over the forecasted timeline, majorly with the increasing demand for energy across the globe.
  • Asia Pacific held the largest market share in 2023, driven by increasing production of crude oil and natural gas, in countries like China and India. The expansion of shale gas exploration in the region, especially in countries like India, China, Myanmar, and Vietnam, is among the key factors pushing the growth of the proppants market in the Asia Pacific region during the forecasted timeline.
  • North America is anticipated to see steady growth, fueled by advancement in the fracturing technology in the region. The major factor propelling the growth of the market in the North American region is the increasing fracturing activities, especially in the countries like USA and Mexico. Similarly, the growing demand for energy in the region is also estimated to boost the growth of the market in the North American region.

Proppants Market Segmentation

Knowledge Sourcing Intelligence has segmented the global Proppants Market based on product type, application, and region:

Proppants Market, By Product Type

  • Ceramic
  • Resin-Coated
  • Frac Sand

Proppants Market, By Application

  • Shale Gas
  • Tight Gas
  • Others

Proppants Market, By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE

Proppants Market Key Players

  • Badger Mining Corporation
  • Carbo Ceramics
  • ChangQing Proppant
  • Covia
  • Halliburton
  • Hexion
  • Nika PetroTech
  • Saint-Gobain NorPro
  • U.S. Silica
  • Pattison Company
  • Orient Ceratech Ltd.

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Isothermal Bags & Containers Market expected to reach $3.426 Billion by 2030

Isothermal Bags & Containers Market Trends & Forecast

The isothermal bags & containers market is expected to grow at a CAGR of 6.08%, reaching a market size of US$3.426 billion in 2030 from US$2.551 billion in 2025, according to a new report by Knowledge Sourcing Intelligence. The market is growing with the rise in the requirement for safe transportation of temperature-controlled products such as pharmaceutical, perishable goods, and biological samples. The rapid urbanization with growing demand for processed, ready-to-eat and frozen foods is also leading to a rise in demand for isothermal packaging for the safety of products during delivery as well as to maintain its freshness.

Isothermal bags and containers are designed to keep their contents at a specific temperature over time, holding whether hot or cold. They accomplish this with insulation that slows heat transfer, hence keeping things longer at low temperatures, and conversely, holding heat in the packaging. Typical applications are food delivery services, picnics, shopping, pharmaceuticals, biological samples, and serving drinks in a specific temperature range. The insulation materials, which tend to be several layers thick, allow for such a function, with some innovative containers using vacuum insulation for optimal retention of temperature.

In addition, the isothermal bags & containers market includes the consistent maintenance of temperature with safe transportation of a wide range of temperature-sensitive goods.  They encompass pharmaceutical, food, and biological product industries. The rapid industrialization with the requirement of sustainable materials will lead to advancement in this market.

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The development of isothermal bags and containers as well as globalization of market players is also creating opportunities for the growth of the market during the projected period. In May 2024, EMBALL’ISO, the French manufacturer of temperature-controlled packaging boxes for medical and pharmaceutical products, announced the start of its business in Australia and New Zealand, after the establishment of EMBALL’ISO Australia in 2023. This enables EMBALL’ISO to offer an even wider range of isothermal packaging locally.

According to future predictions, the isothermal bags and containers market in the Asia-Pacific region is projected to grow mainly due to increased demand for temperature-sensitive goods, growth in cold chain logistics, increased global trade, and awareness among consumers. Other aspects driving demand in this area include rising disposable incomes, urbanization, e-commerce, and the pharmaceutical industry.

The isothermal bags and container will grow in demand in the region, countries like China, Japan, and South Korea, to carry perishables around safely and efficiently. The region active in international trade, particularly in export and import of perishables, which keeps fueling the demand for isothermal packaging solutions. Consumers are more aware of food safety as well as the requirement of temperature control during transportation of food. This economic growth, changing consumer preferences, and major industry expansion make the Asia-Pacific one of the most promising markets for isothermal bags and containers.

Isothermal Bags & Containers Market Report Highlights

  • Container holds the largest and dominant market share due to the ability to maintain temperature stability for a longer time, along with mechanical strength.
  • The polyurethane material is growing at a robust rate due to the rise in sustainability, with it being an excellent thermal insulator and highly durable.
  • Pharmaceutical industry is growing at a higher rate, driven by rising temperature-sensitive products, efficient transportation, and use in clinical trials.
  • Asia Pacific will be the rising market during the projected period, because of increasing demand for ready-made meals and processed products in the region. The growing healthcare sector will also lead to a rise in demand for reliable temperature-controlled packaging solutions.
  • North America is anticipated to see significant growth, due to the region having a robust healthcare and pharmaceutical industry requiring cold chain logistics. Moreover, with the rise in investment in biomedical research, it will also contribute to its expansion.

Isothermal Bags & Containers Market Segmentation

Knowledge Sourcing Intelligence has segmented the global Isothermal Bags & Containers Market based on type, material type, end-user, and region:

Isothermal Bags & Containers Market, By Type

  • Bags
  • Containers

Isothermal Bags & Containers Market, By Material Type

  • PEVA
  • PE
  • Polyurethane

Isothermal Bags & Containers Market, By End-User

  • Food
  • Chemicals
  • Pharmaceuticals
  • Biological Products

Isothermal Bags & Containers Market, By Region

  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa (MEA)
    • UAE
    • Saudi Arabia
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

Isothermal Bags & Containers Market Key Players

  • Polymos Inc.
  • Nordcontenitori Sas
  • Cryopak
  • Tempack
  • Sofrigam
  • Peli BioThermal Limited
  • Atlas Molded Products
  • Cold & Co
  • Sæplast
  • Exeltainer
  • Isovation
  • EMBALL’ISO
  • Pelican Biothermal LLC
  • ACH Foam Technologies, LLC
  • Tecnisample s.l.

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Aerial Imaging Market size worth US$8.019 billion by 2030

The aerial imaging market is expected to grow at a CAGR of 12.54%, reaching a market size of US$8.019 billion in 2030 from US$4.442 billion in 2025.

Aerial imaging refers to photography that is done on a flying object. Numerous platforms can be used for taking photographs, including drones, helicopters, balloons, and others. The technology used in taking these images may include both hardware and software. The market for aerial imaging is being driven by the increasing applications of aerial photography across several end-user applications. Aerial imaging solutions have been gaining a lot of traction as they serve as an efficient solution for several purposes, including designing routes, map renovations, and volume calculations, among others. Moreover, the burgeoning application of aerial imaging across the construction sector due to modernization significantly shapes upmarket growth during the forecasted period.

Additionally, the increasing investment in infrastructure in various countries such as the United States, China, and India is anticipated to propel the market growth in the projected period. For instance, according to the India Brand Equity Foundation (IBEF), the total allocated investment for Smart Cities Mission in India stood at INR 7,20,000 crore (US$86.43 billion) as of February 2024. Additionally, of the total projects, 7,742 have been tendered, work orders have been issued for 2,740 projects, and 5,002 projects have been completed as of February 2024.

Furthermore, the growing adoption of aerial imaging for efficient disaster management is also propelling business growth opportunities for the manufacturers of these solutions over the projected period. The advancement of imaging technology and the increasing use of 360-degree vision cameras, along with LiDAR systems, has paved the way for the efficient deployment of these technologies. These cameras and systems often provide high-resolution images and exceptional results, presenting a significant opportunity for growth in the aerial imaging market for the next five years.

The booming penetration of UAVs across several sectors, including defence, agriculture, oil and gas, and others, is further spurring the demand for aerial imaging solutions over the forecast period. The oil and gas sector is one of the major consumers of UAVs, and in the projected period, with rising demand for oil and gas, the market for aerial imaging is expected to grow. For instance, according to the Petroleum Planning and Analysis Cell, Ministry of Petroleum and Natural Gas, the total crude processed during April 2024 was 21.6 MMT, with a growth of 0.8 per cent compared to April 2023. The private refiners processed 7.1 MMT of crude oil, while the PSU/JV company processed 14.5 MMT. The total Indigenous crude oil processed was 2.2 MMT, and the total Imported crude oil processed by all Indian refineries (PSU/JV/PVT) was 19.4 MMT.

Aerial Imaging Market Segmentation:

The aerial imaging market is segmented by application into five major categories: Disaster management, geospatial mapping, energy and resource management, surveillance and monitoring, and others. By application, the disaster management application of aerial imaging solutions is expected to witness promising growth for the next five years, primarily because these solutions are being increasingly adopted for assessing the magnitude caused by any disaster. Furthermore, the overall climatic conditions worldwide are deteriorating due to global warming. This, in turn, has further accelerated the occurrence of natural disasters in many parts of the world. Thus, the burgeoning requirements for effective and efficient disaster management and technology penetration are increasing, which is further expected to impact this segment’s growth during the forecast period positively.

The aerial imaging market by platform is segmented into Drones/UAVs, fixed-wing aircraft, helicopters, and others. Rapid advancements in drone technology and rising demand for drone-generated data in commercial applications are the main drivers of the unmanned aerial vehicle (UAV) drone market’s expansion. A rise in venture capital funding is also contributing to the growth of the unmanned aerial vehicle (UAV) drone market.

The aerial imaging market by end-user is segmented into government, military and defence, energy, construction, agriculture, and others. The wide applications of these solutions across the government sectors for numerous applications, including homeland security, geospatial surveys, and urban planning, among others, are some of the key factors bolstering this segment’s share significantly during the next five years. The increased focus on efficient disaster management is further expected to bolster market growth until the end of the forecast period.

The aerial imaging market by camera axis is segmented into vertical, low oblique, and high oblique. With the camera axis tilted to about 60 degrees in the high oblique segment, a greater area can be covered and the horizon is included in the finished image. This provides a more expansive view of a region, making it possible to recognize landmarks and other geographical features.

Based on geography, the Asia-Pacific (APAC) region is expected to experience significant growth during the forecast period. The growth is because of the increasing awareness and recognition of the potential benefits of UAV technology in emerging economies such as China, India, and Indonesia. These countries are investing heavily in UAV technology for diverse applications, ranging from precision agriculture and surveillance to disaster management and e-commerce deliveries. Supportive government policies and increased investments from the private sector are propelling the regional market growth. The rapidly growing industrial and technological space in APAC also ensures that UAVs will gain rapid traction and significantly contribute to global market growth.

Aerial Imaging Market Key Players:

As a part of the report, the major players operating in the Aerial imaging market that have been covered are Fugro N.V., Cooper Aerial Surveys Co., Digital Aerial Solutions LLC, EAGLE AERIAL, EagleView Technologies, Inc, L3Harris, Kespry, Nearmap Ltd., Kucera International, Terra Flight Aerial Imaging, Inc.

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The Aerial Imaging Market is analyzed into the following segments:

  • By Application
    • Disaster Management
    • Geospatial Mapping
    • Energy and Resource Management
    • Surveillance and Monitoring
    • Others
  • By Platform
    • Drones/UAV
    • Fixed-wing Aircraft
    • Helicopter
    • Others
  • By End-User
    • Government
    • Military and Defense
    • Energy
    • Construction
    • Agriculture
    • Others
  • By Camera Axis
    • Vertical
    • Low Oblique
    • High Oblique
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • UK
      • Spain
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Others

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How Urbanization and Industrialization are Propelling the Safety Valves Market

The global safety valves market is at an incredible high due to the quick growth of urbanization and industrialization around the world. The quick growth of urban areas and industrial plants makes the efficiency of safety systems the most salient feature, whether saving the infrastructure or safeguarding the lives of people and equipment. Safety valves, being essential elements in many industrial and urban uses, are leading this demand. This article examines how industrialization and urbanization are redefining the safety valves market and why such trends are likely to keep propelling growth in the future.

Urbanization: A Catalyst for Demand

Without a doubt, urban growth is the fastest trend all over the world. Currently, 55% of the world population lives in cities, which is expected to grow to 68% by 2050 as per UN estimates. Urbanization means the long-lasting movement of a human population away from rural areas to cities and, when combined with the growth of the total world population, is likely to add another 2.5 billion people to city dwellings by the year 2050. 90% of this increase is expected in Asia and Africa.  The latest boom in urban settlements is accelerating the growth of new residential and commercial centers, coupled with adding essential industrial infrastructures, all requiring sophisticated safety systems. Safety valves have many functions, including:

  • Water and Wastewater Management: As cities grow and develop additional demand for clean water and wastewater management begins to appear. Water treatment, pumping, and distribution systems use safety valves to ensure they remain safe and serviceable. According to the reports released by the International Trade Administration, the Indian market for water and wastewater treatment is expected to grow from $1.31 billion in 2020 to $2.08 billion in 2025 at a compound annual growth rate of 9.7%. India was also ranked as the sixth largest environmental technology market globally and second for water/wastewater management in subsector rankings.
  • Energy Systems: Cities are almost entirely dependent upon energy systems including district heating, natural gas piping, and electrical grids. For example, the US electricity grid comprises 7310 electric power plants, 160,000+ miles of high voltage power lines, millions of distribution transformers, and low voltage power lines, all of which provide services to 145 million customers across the USA.
  • Fire Protection: Urban buildings, shopping centers, and other city structures need advanced fire protection systems. Safety valves are employed in sprinkler systems and fire hydrants to regulate water pressure and provide efficient fire suppression. Combined with the complexities added to the urban infrastructure, fear of fires contributes to the very rapid adoption of sophisticated forms of safety valves in cities across the world.

Industrialization: Powering Market Growth

Industrialization is also a major growth driver of the safety valve market. As industries keep growing in scale, so does the importance of these pressure-relieving systems. In the oil & gas, chemicals, power generation, and manufacturing sectors, the most critical components to safeguard human and equipment resources are the safety valves.

  • Oil and Gas: The oil and gas industry consumes safety valves at an extensive level. This industry depends on safety valves to prevent overpressure in all three operational sectors which include pipelines, refineries, and storage tanks. As a result of the rapid growth in the energy demand, and the expansion of the oil and gas infrastructure, the adoption of safety valves is expected to grow tremendously across the industry. For instance, the EIA reports that China’s natural gas imports stood at an average of 16.0 Bcf/d in 2023, which is equal to 42% of the country’s natural gas consumption. This percentage was a mere 15% in 2010. The imports are brought into China through pipelines and as liquefied natural gas (LNG).
  • Power Generation: In the power generation sector thermal, nuclear, and renewable energy plants have safety valves because of the high pressure exerted by boilers turbines, and other equipment. Following this, the International Trade Administration stated that gross net installed power capacity for Canada was about 149 gigawatts (GW) and is anticipated to reach 170 GW by 2035. With nations investing in new power plants and refurbishing existing ones the need for safety valves is expected to increase.
  • Chemicals and Petrochemicals: The chemical industry comprises processes that are extremely dangerous and include highly reactive agents, indeed making the use of safety valves a necessity. The emerging demand for chemicals and petrochemicals, in particular from the developing regions enforcing industrialization, is increasing the requisite for safety valves in this sector.
  • Manufacturing: The automation of equipment essential for construction and crops, including but not limited to, compressors, reactors, and pressure vessels all utilize safety valves. The rise of digital transformation and controlled smart manufacturing is driving the demand for integrated digital control systems, including advanced safety valves. This is in conjunction with plans by Japanese manufacturing companies to spend almost $890 million over the next few years on digital infrastructure as predicted by the International Trade Administration. By 2030, this cost is expected to reach around $4.1 billion.

The expanding technological developments are also driving the growth of the safety valve industry. As an example, Danish multinational engineering company, Danfoss, announced in October 2024 that their EVR and NRV Safety Valves, which meet UL 60335-2-40 and UL 60335-2-89 requirements, are now commercially available. The A2L, A2, A3 classified materials such as flammable refrigerant charges can be used with the Danfoss EVR solenoid valves and NRV check valves, allowing for increased safety while reducing the releasable charge in higher capacity systems.

Moreover, more environmentally friendly requirements are leading to lower leakage rates and altering energy consumption, increasing the adoption of safety valves which are energy efficient and advanced in design. Such developments meet the global movement toward cleaner and greener industrial practices.

In summary, industrial growth and urban expansion are the most lucrative drivers for the safety valve market globally. As cities and industries grow, the need for advanced and reliable safety systems increases. This is how the ever growing and expanding industries have fueled the growth of advanced safety mechanisms such as safety valves. Moreover, with continuous advancements in technology and with sustainability as the center of focus, the safety valves market is expected to expand further in the coming years. Stakeholders in this sector must stay ahead of these trends to capitalize on the opportunities presented by this dynamic and evolving market.

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Top Players Shaping the Power Rental Market: A Competitive Analysis

The power rental market is witnessing growth due to diverse industries requiring reliable and continuous power supply to maintain consistent operations. Power rental is a feasible way for across the industries such as manufacturing and constructions among others require maintenance of power supply, temporarily shutdowns and emergency power requirement, the power rental are readily available options for these situations. For instance, the U.S. Census Bureau reported that the preliminary estimates of construction spending in the United States in December 2024 were $2,192.2 billion, representing an increase of 0.5 percent from the revised estimate of $2,180.3 billion in November 2024 and also up by 4.3 percent from the estimate for December 2023 which stood at $2,101.3 billion. This trend will be leading to boosting the increase of a competitive landscape globally where key market players are continuously developing and launching new product and innovations to expand and adhere to changing customer demands in the power rental market.

Increase in Construction Spending in the United States, in US$ Billion, in November 2024 and December 2024

increase in construction spending

Source: U.S. Census Bureau

Top companies in the power rental market

  • Aggreko
  • Caterpillar Inc.
  • Atlas Copco
  • Cummins Inc.
  • United Rentals

Let’s discuss each in detail.

  • Aggreko

Aggreko is the world leader in temporary power, temperature control, and compressed air rental solutions for construction, events, manufacturing, and utilities. The company supplies rental solutions for power generation, dehumidifiers, cooling and heating, battery storage, and industrial air compressors. Their mobile, modular hardware can be scaled to the size of demand while the company has specialists in their field that understand how to assist with unique aspirations.

Aggreko’s global network and brand reputation aid the company in being one of the market players. The company strategy focusses to provide flexible and cost-effective energy and power services as customers transition to less carbon-heavy forms of energy. Remote monitoring technologies are being used to optimize output, and they offer fuel management services to ensure timely deliveries along with investing in sustainable products, fuels, and services.

The company’s rental options provide range from generators, transformers, and load banks to temperature systems, among others. They also provide diesel generator rental and gas generator rental services. Gas generator set rentals provide 1375-kVA gas generators, are the most viable and low-emission solution. The generators are perfect for off-grid power or installing combined heat and power packages. They present significant reductions in nitrogen oxides, carbon monoxide, and particulates compared to diesel emissions. Aggreko also provides gas generators capable of operating on a range of natural gases, meaning that clients will be able to maximize their own resources when deciding to hire a gas generator from Aggreko.

  • Caterpillar Inc.

Caterpillar Inc. is regarded as a global leader in construction and mining equipment with a firm hold on power rental markets because it offers an extensive range of rental power solutions based on its know-how in engine technology and heavy machinery. Its brand, namely Cat and Perkins offer durable, versatile engines for many machines and provide a full line of innovative and reliable power solutions that serve industrial/construction, agriculture, and rental markets so that they can survive in harsh environments and meet user-defined specifications.

The company strategy engaging in supporting with customers in the energy transition by investing in new technologies and services, developing products that reduce emissions and improve operational efficiency, and working towards sustainability.

The company supplies a range of rental power equipment, such as mobile generators, that are easily transportable and installed. The portable solutions for remote jobs locations or temporary power needs are available in natural gas and diesel models.

  • Atlas Copco

Atlas Copco is a global industrial company providing quality products and services in compressed air, vacuum, power, and other industrial applications. Atlas Copco offers a full range of power rental solutions with 24/7 reliable power rental solutions for power generators, air compressors, nitrogen generation, dryers, dewatering pumps, and steam generators through Atlas Copco Specialty Equipment Rental.

With over 140 years of experience and working in more than 160 different sectors, Atlas Copco Rental provides rental sets of generators for all types of industrial applications. With professional equipment and on-site project management, efficient all-in-one approach, triple ISO certification, cost-effective custom rentals, and international 24/7 service.

The company is focused on providing efficient and sustainable solutions, with an increasing emphasis on hybrid and electric power options. Atlas Copco’s strength in innovation and service solidifies its standing in the market. Besides, the company also provides rental gensets, diesel generators, modular power stations, energy storage modules, and transformers. Modular power stations from the company are designed for optimum uptime and efficiency with low fuel consumption per kWh. They are compact, quiet, easily transportable and easy to install; plug and play connectivity allows for easy parallel connection of generators ensuring flexible and reliable power plant.

  • Cummins Inc.

Cummins Inc. is a global power company designing, producing, and servicing engines, generators, and powertrain components, rental generators and all associated equipment. Cummins holds the position of a key player in power rental markets because of engine technology and the offering of reliable and efficient power solutions. Furthermore, Cummins enjoys a competitive advantage due to its strong global presence and customer service network.

The company offers tier 4 final certified rental generator sets throughout its North American scope for rental power solutions. The gensets, being US EPA Tier 4 Final Certified, are designed to be flexible, reliable, and rugged, found in rental generators like C12D6RE, C70D2RE, and C100D2RE. On the other hand, international rental power solutions launches a whole range of diesel-powered generators developed for flexibility, reliability, and cost-effectiveness in rental applications. The generators apply in diverse applications and rental fleet requirements including the models C40D2R, C65D2R, and C90D6RB.

  • United Rentals

United Rentals, the world’s largest equipment rental company, is well established in the power rental market across North America, with a wide-reaching integrated network comprising 1,520 locations in North America, 38 in Europe, 23 in Australia, and 19 in New Zealand. The company provides a diverse range of rental equipment for diverse industries, including construction, industrial, and power sector, their products including generators, transformers, and power distribution equipment, along with services like delivery, setup, and maintenance.

United Rentals offers a wide range of generators for rent, including portable gas and diesel models with varying outputs and fuel capacities to meet customers specific needs. Additionally, the company offers a wide range of heavy-duty transformers for rent, ranging from 15 kVA to 7,000 kVA, mounted on a skid frame for outdoor use.

Top 10 Emerging Beverages Set to Dominate the Market in the Coming Years

Top 10 fastest-growing beverage types across the globe:

  1. Carbonated Drinks
  2. Juice
  3. Vegan Milk
  4. Fermented Cider
  5. Perry
  6. Beer
  7. Nut Wine
  8. Energy Drinks
  9. Sake
  10. Fruit Flavoured Drinks

Each type of beverage is discussed in detail, below:

1. Carbonated Drinks

Carbonated beverages or carbonated drinks are a type of beverage, that contains carbonated infused in it. The carbonated drinks contain carbonated water, with flavors, sweeteners, preservatives, and color. There are various types of carbonated beverages available in the global market, which include soft drinks, sparkling water, and carbonated wines among others. The demand for carbonated beverages in the global market witnessed significant growth during the past few years. The British Soft Drinks Association, in its report, stated that in the United Kingdom, the total production of carbonated drinks in 2023 was recorded at 5,923 million liters, which witnessed a growth of 0.5% from 2022. The agency further stated that in 2021, the total production of carbonated drinks in the nation was recorded at 5,520 million liters, which surged to 5,894 million liters in 2022. In 2021, carbonated drinks witnessed a growth of 6.2%, which increased to 6.8% in 2022.

Carbonated Drinks Production in the UK, millions of Liters, 2021 to 2023

carbonated drinks production

Source: British Soft Drinks Association

2. Juice

Fruit juice or juice is a type of beverage, which are made by extracting the liquid content of fruit and vegetable products. The juice offers multiple health benefits to the consumers it provides higher antioxidants, fiber, and vitamins. The juice products also offer multiple digestive benefits and help in promoting heart health. The increasing consumer preference towards organic and natural drinks products, which include low amounts of sugar and preservatives, witnessed significant growth. The British Soft Drinks Association, in its report, stated that the production of soft drinks in the nation witnessed a growth of 1.7% in 2022 and about 4.3% in 2023. The agency further stated that in 2021, the total production of fruit juice was recorded at 956 million liters, which surged to 973 million liters in 2022. In 2023, the total production of fruit juice in the UK was recorded at 1,014 million liters.

3. Vegan Milk

Vegan milk or plant milk is a form of milk drink, which is made using plant products as raw material. The vegan milks are extracted from water-based plants, which offer a rich taste and flavor. Plant milk is considered the best and most sustainable alternative to milk obtained from various types of animals. Plant milk beverages offer multiple benefits to the consumers, like it contains lower saturated fats, and does not contain any cholesterol. The plant milk also consists of various types of nutrition and vitamins, with no lactose and calories. The global plant milk drink market is expected to witness major growth with the increasing consumer preferences towards vegan food consumption habits.

4. Fermented Cider

Fermented cider is a type of alcoholic beverage, which is made by fermenting apples. Cider also offers multiple health benefits to the consumers, which include lowering the blood sugar content, whereas helping in managing weight. The cider also helps in reducing the risk of heart disease, and it also detoxifies the blood. Cider is commonly consumed in the UK and Ireland. With the increasing consumption of alcoholic beverages in the global market, the demand for fermented cider is expected to grow significantly across the globe.

5. Perry

Perry or pear cider is a fermented pear juice drink, which comes under the alcoholic beverages categories. Perry drink is a type of traditional alcoholic beverage, which is widely consumed in England, Wales, France, Canada, Australia, and New Zealand. Perry drinks witnessed an increase in global demand majorly to the increasing consumer preference towards natural, and unique drinks, that contain lower amounts of artificial sweeteners, and preservatives.

6. Beer

Beer is among the most common types of alcoholic beverages, which are consumed across almost every nation in the globe. Beer is made by fermenting grains, which gives it a unique taste and color. In the global market, various types of beer are available, which include lager, ale, pale ale, witbier, Strout, and pilsner among many others. Beer provides a wide range of health benefits, as it can help in supporting heart health, and aids in kidney stones. The introduction of craft beer, a type of beer which is typically produced in craft breweries, and contains new flavours, helps the global beer market achieve a significant boost.

7. Nut Wine

Nut wines are a form of wine, which is made using various types of nuts, like walnuts and cashew nuts. These type of wines are produced using maceration of organic and green nuts, which ensures rich aroma and fine taste to the beverage. Nut wine is also a form of traditional drink, which is made using different techniques and raw material across different parts of the globe. French Walnut Wine, which is also known as Vin de Noix, is among the most common, and most consumed types of nut wine across the globe. Similarly, in India, the organic cashew nut wine, or cashew apple wine is widely consumed and is expected to witness the rise in its demand in the global market.

8. Energy Drinks/Sports Drinks

A sports drink is a form of functional beverage, which commonly contains electrolytes. Sports drinks offer multiple benefits to consumers, as it helps in enhancing the physical performance of the individual, and helps in regaining the mineral lost in sweat. Sports drinks provide the muscles with a supply of water, energy, and electrolytes, which prevents the cramping of the muscles.

The sports or energy drinks category of beverages witnessed a major demand in the sports and activity sector. The demand for sports drinks witnessed significant growth during the past few years majorly with the introduction of new players in the market. The British Soft Drinks Association, in its report, stated that in the UK, the production of sports or energy drinks category witnessed a growth of about 6% in 2023, whereas a growth of 7.9% was recorded in 2022. The agency stated that in 2021, the total production of sports or energy drinks was recorded at 906 million liters, which surged to 978 million liters in 2022, and 1,037 million liters in 2023.

9. Sake

Sake is a Japanese alcoholic drink, which is made using rice. The Sake drinks consist of around 15% alcohol content and are a form of traditional Japanese drinks. The increasing tourism and introduction of foreign culture and food products are among the major factors that are expected to boost the demand for the sake in the global market, in the coming few years.

10. Fruit Flavoured Drinks

Fruit-flavoured drinks are a type of fruit juice, with a content of fruit juice less than 50% of the total drinks. These types of drinks are mixed with various types of flavors and spices, to create the unique flavor of fruit drinks. The fruit-flavored drinks witnessed a significant growth in global demand with the introduction of various small and regional-based companies, offering a traditional local taste to the global market. For instance, in India, Paper Boat, a beverage products manufacturer, offers a wide range of fruit-flavored drinks, like Swing Juicer, Aam Panna, Slurpy Mango, and  Lush Lichee among others.

Top 10 Manufacturers Shaping the Future of Circuit Breakers

The circuit breaker is a device used to protect an electrical circuit from damage caused by overcurrent/overload or short circuits. There has been an exponentially growing need for power demand worldwide. This increased demand is mostly from the developing economies of the world. For example, in April 2024, the World Bank Group and the African Development Bank Group announced the partnership of an ambitious project to provide at least 300 million people in Africa with electricity access by 2030. The World Bank Group would work to connect 250 million people to electricity through renewable energy systems, while the African Development Bank Group would support an additional 50 million people. This growing demand for energy-efficient infrastructure and renewable energy sources to optimize power distribution has led to the rising application of circuit breakers, as increased awareness about electricity safety and regulation.

Several leading players play a vital role in shaping the future of the circuit breakers market:

1. ABB

The ABB Group is one of the largest companies serving in the fields of electrification, renewable energy, process automation, and robotics. The electrification segment alone generated revenue of US$14.6 bn in 2023. The company has a legacy of miniature circuit breakers for 100 years, with its inception in 1924. The company’s future is focused on energy efficiency, transparency, and sustainable practices. They intended to build a portfolio of compact, modular, and flexible designs to integrate renewable energy sources. In November 2023, ABB provided switchgear and circuit breaker solutions in a new mining plant in West Africa. The solution included 13 of ABB’s VD4 vacuum circuit breakers, which had the potential to minimize maintenance, increase safety, and provide protection. ABB technology offered compact technology without SF6 insulating gas in the switchgear or the circuit breaker.

2. Eaton Corporation

Eaton Corporation is the leading manufacturer of circuit breakers in the industry and is continuously changing the landscape of the market. On March 29, 2021, Eaton acquired a 50 percent stake in HuanYu High Tech (HuanYu Group) ,which manufactures low-voltage circuit breakers and contactors in China. Further, in July 2022, Eaton acquired a 50 percent stake in Jiangsu Huineng Electric Co., Ltd’s circuit breaker business, which manufactures and markets low-voltage circuit breakers in China and had revenues of $35 million in 2021. These acquisitions gave them the significant advantage to expand to meet the growing needs of high-growth market segments such as renewable energy and grid modernization over the Chinese market and throughout the Asia-Pacific region.

Besides, in October 2024, Eaton announced a collaboration with Lunar Energy to simplify the installation and functionality of home energy storage and solar systems. The integration of Eaton’s new AbleEdgeTM smart breakers with the Lunar System would make it easier for installers to deploy solar and storage, manage loads, optimize costs, and extend the life of the solar battery system.

Additionally, Eaton launched a collaboration with Tesla at RE+ 24 streamlining new and retrofit home energy storage deployments in September 2024. This collaboration would make it easier for customers to integrate residential solar, energy storage systems. Tesla’s Powerwall would support Eaton’s new AbleEdgeTM smart breakers. This will make it easier to achieve intelligent load management functionality to optimize energy use and extend backup duration.

With all these developments, the company is aligned with Eaton’s Home as a Grid strategy. The ‘Home as a Grid’ means homes can now act as energy hubs by producing their own power to support flexibility and stability and manage energy consumption in an integrated way.

3. CG Power and Industrial Solutions Limited

CG Power and Industrial Solutions Limited is a leading player in power systems in India. They are the first Indian manufacturer to develop and supply Ultra High Voltage 765kV SF6 gas circuit breakers. They were implementing the three main strategies, i.e. expansion of capacity, enhancing exports, and accelerating technological advancements. Recently, in FY2023, they launched vacuum interrupter railway trackside circuit breakers.

And initiated the product upgradation in EHV Switchgear by design, such as 420kV, 63kA Gas Circuit Breaker suitable for -40°C application, which resulted in executing an order from Ukraine and opened an opportunity for in many European countries. Further, degradation of 245kV, 50kV Gas Circuit Breaker for higher altitude applications. These developments and innovations put the company at the forefront in India and overseas markets of Burkina Faso, Cameroon, Congo, Greece, Kenya, Paraguay, Philippines, UAE, Suriname, etc.

4. Salzer Electronics Limited

Salzer Electronics Limited has its major revenue share from the industrial switchgear, which was 53.9% in Q1 FY24 and 51.8% in Q1 FY25. The company took pride itself to be the largest supplier of rotary and load break switches to Indian Railways. Further, the company is focused on its several research and development products, including receiving two patents for CAM-operated rotary switches & Motor protection Circuit breakers for 20 years, which is ending in 2036.  Moreover, the company has a unique design in India for load break switches and single-hole mounting switches.

5. Hitachi Energy Ltd.

Hitachi Energy Ltd. is a key innovating leader in the market for circuit breakers. Hitachi, Ltd. announced that it would supply five units of Hitachi Energy’s sulfur hexafluoride (SF6)-free EconiQ 300 kilovolt (kV) circuit breaker to Chubu Electric Power Grid. This was the first project in Japan where SF6-free circuit breakers would be installed at voltages of 275 kV and above. The SF6-free EconiQ circuit breaker reduces CO2-equivalent emissions from the insulating gas by 99.3 percent, which helps in achieving sustainable power grids in Japan and reducing emissions to zero by 2050.

Additionally, in August 2024, Hitachi Energy launched a new technology to tackle emissions of sulfur hexafluoride (SF₆), 80 percent of which come from the power sector. Sulfur hexafluoride (SF₆) is used in switchgear, which is a critical component protecting power grids. But it is 24,300 times more climate-hostile than CO₂. To overcome this challenge, Hitachi Energy launched the world’s highest voltage SF₆-free switchgear – the EconiQTM 550 kV circuit breaker that can be used in gas-insulated switchgear (GIS) or dead tank breakers (DTB) and the EconiQ 420 kV Live Tank Breaker (LTA).

6. Toshiba

Toshiba has high standards for its products and manufacturing. This is the leading company in the market. Such as their high-voltage vacuum circuit breakers are designed and manufactured according to the latest IEC standards, IEC 60056 and IEC 2300, and for indoor switchgear purposes. These can be used at altitudes up to 1,000m. Further, HVK 5-15 kV vacuum circuit breakers are the smallest and lightest of their kind. The 15 kV, 1200 A rated breaker weighs only 95 kg (210 lb.), which is much less than the most competitive vacuum circuit breakers, which can weigh up to 95 kg (210 lb.).

Besides, Toshiba agreed to team up with Meidensha Corporation. Both companies are jointly developing to accelerate the adoption of a new GIS with natural-origin gases. They combined the electrical insulating technologies of natural-origin gases with the advantages of vacuum circuit breakers, achieving both size reductions and a high current interrupting capability. However, the development curve was steep. The development process for the new GIS included further size reductions and support for higher voltages.

7. Siemens AG

Siemens is following up on the renewable economy, with new electronic switching technology and digitalization to integrate into existing systems. Siemens and BASF announced a collaboration on driving the circular economy in June 2024. Siemens would provide a circuit breaker, which is the first electrical safety product to use plastic components where fossil raw materials have been replaced by biomethane derived from recycled biowaste. This material changeover in the SIRIUS 3RV2 circuit breaker production will reduce the emission of carbon dioxide equivalents by ~270 tons per year.

Additionally, Siemens introduced innovative circuit protection devices which is multifunctional, parametrizable, and sustainable in March 2024. This new product requires up to 80 percent less space in the distribution board, compared to conventional solutions. This is a space and energy savings compared to conventional solutions.

8. Mitsubishi Electric Corporation

Mitsubishi Electric Corporation announced it signed an agreement with Siemens Energy Global GmbH to co-develop Direct Current (DC) Switching Stations and DC Circuit Breaker requirement specifications in August 2024. The agreement aimed to realize Multi-terminal High Voltage DC (HVDC) systems to enable efficient operation of large-scale renewable energy resources. This would accelerate the global deployment of Multi-terminal HVDC systems.

Further, in February 2023, Mitsubishi Electric Corporation announced into entered into the acquisition of Scibreak AB, a Swedish-based company that develops direct current circuit breakers (DCCBs). The two companies aimed to strengthen the development and distribution of DCCB technologies for high-voltage direct current (HVDC) systems to support the increasing global deployment of renewable energy.

9. Fuji Electric

Fuji Electric offers different types of circuit breakers such as Moulded Case Circuit Breakers, Magnetic Contactors and Starters, Miniature Circuit Breakers, Power Monitoring Units, Air Circuit Breakers, etc. Their Moulded Case Circuit Breakers are intended for photovoltaic power generation. It is compatible with DC750V and 1000V and is ideal for the junction box and power conditioner. MCCB would lead the market demand for photovoltaic renewable energy generation.

10. Schaltbau

Schaltbau is a major company specializing in DC power and providing products and solutions enabling electrification. In April 2024, Schaltbau announced the introduction of its Smart Circuit Breaker product line, a family of intelligent circuit breakers that cut off currents ten to a hundred times faster than conventional contactors, therefore better protecting all kinds of energy storage systems. It could simplify the integration of renewable energy sources, energy storage systems, and energy consumers into industrial microgrids.

Further, for its expansion in Europe, announced a sales distribution partnership with Heilind Electronics, a major global distributor specializing in electromechanical products in November 2024. This collaboration aimed to accelearte the sale of Schaltbau’s Eddicy products to customers across Europe.

Conclusion:

The companies are moving towards sustainable practices, such as the development of technologies to reduce or remove SF6 from the circuit breaker. Further, the companies are trying to make the circuit breaker for the application in the renewable energy power generation, namely, photovoltaic, wind, etc. The digitalization and modernization of the circuit breaker are major factors driving innovations in the market.