PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1504287
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1504287
Please contact us using the inquiry form for pricing information.
Global Market Insights Inc. offers GMIPulse, a cutting-edge, Business Intelligence (BI)-enabled platform designed to deliver the finest strategic value. GMIPulse offers an adaptable subscription service, customizable to meet your unique needs, providing comprehensive and granular market data, competitive landscape insights, and an in-depth understanding of industry ecosystems. This platform is your go-to solution for all market research needs, ensuring you stay ahead with the latest trends and technological advancements.
The energy & power industry is undergoing significant transformation driven by technological advancements, environmental concerns, and evolving regulatory landscapes. GMIPulse provides in-depth insights into the following key clusters within the energy & power industry:
The global battery technology market is projected to grow at a CAGR of 8.5% from 2023 to 2030, driven by the increasing adoption of electric vehicles (EVs) and renewable energy storage solutions. Key markets include lithium-ion batteries, solid-state batteries, and flow batteries. For instance, the lithium-ion battery market is expected to see significant growth due to its extensive use in EVs and portable electronics.
The global electrical equipment market is anticipated to expand at a CAGR of 6.2% from 2023 to 2030, propelled by the modernization of electrical grids and rising energy efficiency demands. Major segments include transformers, switchgear, and circuit breakers. The smart transformers market, in particular, is gaining traction due to their ability to provide real-time monitoring and improve grid reliability.
Emerging energy technologies are set to revolutionize the energy sector with a projected CAGR of 7.8% from 2023 to 2030. These technologies include advanced nuclear reactors, hydrogen fuel cells, and energy-efficient systems. Hydrogen fuel cells, for example, are increasingly being adopted in both stationary and mobile applications due to their potential to reduce carbon emissions significantly.
The energy storage systems market is expected to grow at a CAGR of 9.3% from 2023 to 2030, driven by the need to balance supply and demand in renewable energy systems. Key markets include battery energy storage, pumped hydro storage, and thermal storage. Battery energy storage systems are particularly important for stabilizing the grid and supporting intermittent renewable energy sources like solar and wind.
Despite the global push towards renewable energy, the oil and gas market remains vital, with a projected CAGR of 3.5% from 2023 to 2030. Major segments include upstream exploration, midstream transportation, and downstream refining. The adoption of digital technologies and automation in oilfield services is expected to enhance efficiency and reduce operational costs.
The renewable energy market is anticipated to grow at a remarkable CAGR of 10.2% from 2023 to 2030, driven by governmental policies and increasing environmental awareness. Key markets include solar power, wind power, and bioenergy. Solar power, for example, is experiencing exponential growth due to declining costs and technological advancements in photovoltaic cells.
The waste management market is projected to expand at a CAGR of 5.7% from 2023 to 2030, supported by stringent environmental regulations and increasing urbanization. Major segments include waste collection, recycling, and waste-to-energy. The waste-to-energy market, in particular, is gaining importance as it provides a sustainable solution for waste disposal and energy generation.
The wire and cable market is expected to grow at a CAGR of 6.8% from 2023 to 2030, driven by the increasing demand for electricity and advancements in communication infrastructure. Key segments include power cables, communication cables, and specialty cables. The demand for high-speed communication cables is rising, supported by the expansion of 5G networks and fiber optic infrastructure.
GMIPulse offers unparalleled strategic value through its BI-enabled platform. With its customizable and interactive interface, accurate data, and comprehensive market insights, GMIPulse is your essential tool for staying ahead in the competitive energy & power market landscape. Subscribe today to unlock the full potential of your market research and strategic planning capabilities.
Please contact us using the inquiry form for pricing information.