Surge Arrester Market worth $1.9 Billion by 2025
The global Surge Arrester Market size is expected to grow from an estimated USD 1.5 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 4.9% during the forecast period. The rising demand for electricity in APAC and the growing focus of on increasing renewable energy installed capacity are encouraging utilities to invest in the electricity transmission and distribution networks, as well...
Powering Efficiency: Smart Meter Market Trends in the US
The Smart Meter market in the U.S. is a thriving sector within the global market that is expected to grow at a significant growth rate due to Implementation of climate change policies and rising investments in smart grid infrastructures. Among the end use industries, Residential Sector is anticipated to dominate in the U.S. market due to the Improved Billing Accuracy and Benefits in Real Time...
Virtual Power Plant Market worth $5.5 Billion by 2029
The global Virtual Power Plant Market is expected to grow from an estimated USD 1.9 billion in 2024 to USD 5.5 billion by 2029, at a CAGR of 23.4% during the 2024–2028 period according to a new report by MarketsandMarkets™. Virtual power plants are essential because they provide enhanced grid stability by optimizing and integrating diverse energy sources, contributing to increased energy...
Energy Management Systems Market worth $75.6 Billion by 2028
The global Energy Management Systems Market is expected to grow from an estimated USD 40.7 billion in 2023 to USD 75.6 billion by 2028, at a CAGR of 13.2% during the forecast period. Several laws and regulations aimed at reducing energy consumption and spreading awareness regarding energy conservation have been enacted by regional governments worldwide. These regulations and policies function...
Smart Meter Market Size to Grow $36.3 Billion by 2028
The global Smart Meter Market is expected to grow from an estimated USD 23.1 billion in 2023 to USD 36.3 billion by 2028, at a CAGR of 9.4% during the forecast period. The smart meters are able to communicate with the utility company in real time, allowing for accurate and up-to-date energy usage data. This can help the utility company better manage its power grid and detect and respond...
Switchgear Monitoring System Market worth $2.7 Billion by 2028
The global Switchgear Monitoring System Market is expected to reach USD 2.7 billion by 2028 from USD 1.8 billion in 2023 at a CAGR of 8.4% during the 2023–2028 period according to a new report by MarketsandMarkets™. The demand to secure electrical distribution systems is the need for the continuous monitoring of switchgear, and growing investments in renewable energy offer high-growth opportunities...
Energy Management Systems Market worth USD 75.6 Billion by 2028
The global Energy Management Systems Market is projected to reach USD 75.6 billion in 2028 from USD 40.7 billion in 2023 at a CAGR of 13.2% according to a new report by MarketsandMarkets™. EMS determines the most cost-effective configuration for power production, transmission, and distribution throughout the network, considering the required criteria for system stability, safety,...
Air Circuit Breaker Market worth $4.1 Billion by 2028
The global Air Circuit Breaker Market is expected to reach USD 4.1 billion by 2028 from USD 3.2 billion in 2023 at a CAGR of 5.0% during the 2023–2028 period according to a new report by MarketsandMarkets™. Key growth catalysts include rising investments in smart grid technologies aimed at safeguarding and managing power equipment, along with the replacement of aging infrastructure....
Vacuum Contactor Market Size to Hit $5.5 billion by 2028
According to a research report “Vacuum Contactor Market by Voltage Rating (1-5 kV, 5.1-10 kV, 10.1-15 kV, 15.1-24 kV), Configuration, Application (Motors, Transformers, Capacitors, Reactors, Resistive Loads), End Users (Utilities, Industrial, Oil & Gas) Region – Global Forecast to 2028″ published by MarketsandMarkets, the global vacuum contactor market is estimated to be valued at...
Smart Grid Market Expected to Reach $103.4 Billion by 2026
The global Smart Grid Market size is projected to reach USD 103.4 billion by 2026 from USD 43.1 billion in 2021 at a CAGR of 19.1% during the forecast period. Smart grid technology enables the transition from a traditional energy distribution network to an intelligent electricity grid that allows two-way communication between the utility and its customers. The smart electric grid uses digital communication...