Offshore Wind Market to grow with a high CAGR of 15.32% by 2022
The offshore wind market is expected to grow from an estimated USD 27,019.1 million in 2017 to USD 55,109.6 million by 2022, at a CAGR of 15.32% from 2017 to 2022.
The offshore wind market has been rapidly growing, especially in Europe as it contributed the European Union (EU) to meet its renewable energy targets for 2020. The market in Europe was estimated to be the largest market for offshore...
Wave Energy Market to See Massive Growth by 2022
According to the new market research report “Wave
Energy Market by Technology (OSW, OBC, & Overtopping Converters), Location
(Onshore, Nearshore, Offshore), Application (Desalination, Power Generation,
and Environmental Protection), and Region – Global Forecast to 2025″ The
global Wave Energy Market is projected to reach USD 107 million by 2025 from an
estimated market size of...
Electrical Digital Twin Market to Witness A Massive Growth of 15.4% by 2024
The global electrical digital twin market
is projected to reach USD 1,642 million by 2024 from an estimated USD 804
million in 2019, at a CAGR of 15.4%. This growth can be attributed to the
improved accuracy and efficiency in power sector operations, streamlined
integration of renewable energy technologies, and reduced unplanned downtime
and maintenance cost.
The asset performance
management is...
Excitation Systems Market Projected to reach $3.12 Billion by 2023
The global excitation systems market is expected to grow from an estimated USD 2.64
Billion in 2018 to USD 3.12 Billion by 2023, at a CAGR of 3.38% from 2018 to
2023. Rising demand for synchronous machines in end-use applications such as
hydro as well as thermal power plants is expected to drive the global
excitation systems market during the forecast period. Furthermore, the ability
of excitation...
Distribution Automation Market Size – Industry Share Report 2018-2023
The distribution automation market is estimated to grow at a CAGR of 7.29% from 2018 to 2023, to reach a projected market size of USD 16.81 billion by 2023. Distribution automation is a solution, which includes monitoring, protecting, controlling, and maintaining the distribution network. Distribution automation is mainly divided into two areas including distribution substation & feeder automation...