Smart Grid Market Size to Reach $103.4 Billion by 2026
The global smart grid market is expected to grow from an estimated USD 43.1 billion in 2021 to USD 103.4 billion by 2026, at a CAGR of 19.1% during the forecast period. The modernization of aging grid infrastructure is one of the primary factors driving the smart grid market growth. Moreover, the government across the world is encouraging investments in smart grids.
Smart grid technology...
Gas Turbine Market Growth is Driven by Rising Demand for Power Generation
The global Gas Turbine Market is expected to grow from an estimated USD 18.9 Billion in 2021 to USD 22.5 Billion by 2026, at a CAGR of 3.6% during the forecast period, owing to an increase in demand of gas turbines in power generation. However, they are also used for mechanical drive purposes and in jet engines.
Power generation segment is expected to lead the gas turbine market
The increase...
Wave Energy Converter Market worth $28 Million by 2030
The
global Wave Energy Converter Market is projected to grow from USD 20 million in 2022 to USD 28 million
by 2030, at a CAGR of 4.3% according to a new report by MarketsandMarkets™. The Wave Energy Converter Market has promising growth potential
due to the rising global energy demand, increasing demand to maximize the
energy production from renewable and green energy sources.
The
oscillating...
Gas Insulated Switchgear Market worth $31.3 Billion by 2027
The
global Gas Insulated Switchgear Market is projected to grow from USD 23.1 billion in 2022 to USD 31.3 billion
by 2027, at a CAGR of 6.3% according to a new report by MarketsandMarkets™. The Gas Insulated Switchgear Market is expected to witness
significant growth during the forecast period, owing to the power distribution
infrastructure, which is expected to strengthen in the upcoming years...
Energy as a Service Market worth $105.6 Billion by 2027
The
global Energy as a Service Market is projected to grow from USD 64.7 billion in 2022 to USD 105.6 billion
by 2027, at a CAGR of 10.3% according to a new report by MarketsandMarkets™. Increasing distributed energy resources, new revenue generation
streams for utilities, availability of federal and state tax benefits for
energy-efficiency projects and decreasing cost of renewable power generation
and...
High Demand of Fuel Cell Power Generation Set to Propel the Solid Oxide Fuel Cell Market
The solid oxide fuel cell market size will grow to USD 6.5 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 33.9 % during the forecast period. Government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms are likely to drive the solid oxide fuel cell market. Rising distributed...
Rising Industrialization and Sustainability: Why the Global Industrial Control Transformer Market is Growing
New
Revenue Pockets:
The global industrial control transformer market is projected to reach USD 1.2 billion by 2027 from an estimated USD 0.9 billion in 2022, at a CAGR of 5.0% during the forecast period. The global industrial control transformer market is primarily being driven by increasing energy consumption and increasing usage of industrial control transformer across major industries. The...
Floating LNG Power Vessel Market to exceed $931.6 Million by 2023
The global floating LNG power vessel market is expected to grow from an estimated $860.1 million in 2018 to $931.6 million by 2023. The Asia Pacific is estimated to be the largest market, followed by the Middle East & Africa. Factors such as growing population, industrialization and increasing urban business activities, and an increase in the demand for power generation are expected...
Gas Turbine Market Expected to Reach $22.5 Billion by 2026
The global Gas Turbine Marketis expected to grow from an estimated USD 18.9 Billion in 2021 to USD 22.5 Billion by 2026, at a CAGR of 3.6% during the forecast period, owing to an increase in demand of gas turbines in power generation. However, they are also used for mechanical drive purposes and in jet engines.
Power generation segment is expected to lead the gas turbine market
The...
Industrial Gearbox Market Expected to Grow $31.90 Billion by 2023
The global Industrial Gearbox Market is expected to grow from an estimated $25.91 billion in 2018 to $31.90 billion by 2023, at a CAGR of 4.25% from 2018 to 2023. Increasing requirement for efficient energy gearbox and clean energy sources are driving the growth of the industrial gearbox market. The increasing automation in manufacturing technology is facilitating the growth of the...