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Market future research insights:
According to T&D World, there will be 1,568
projects totaling more than 15 GW of capacity for microgrid deployment by 2016.
The microgrid
marketis probably being driven by all of these
causes.
The global microgrid is anticipated to grow
quickly throughout the projection period, largely as a result of increased
power generation from renewable energy sources, for which an adequate
infrastructure is required and may help with the distribution of electricity in
the most remote places.
The microgrid market has been divided into
categories based on type, component, power source, and end-user. The market's
hardware subsegment is anticipated to be the biggest sub segment by component.
The software sub-segment, however, is anticipated to increase quickly.
This expansion may be attributable to the growing
usage of software across a range of end-user markets, including industrial and
commercial locations, campuses of universities, municipalities, and utilities.
Microgrid operators can monitor and regulate distributed energy resources with
integrated weather and load forecasts thanks to software that is a microgrid
component.
Key players:
·
ABB
·
GE
·
Eaton
·
Schneider Electric
·
Honeywell
·
Caterpillar
·
S&C Electric
·
Power Analytics Corporation
·
Siemens
·
Microgrid Energy
Regional analysis:
Major regions of the world, such as North America,
Europe, Asia Pacific, Latin America, and the Middle East & Africa, have all
been studied.
The People's Republic of China and Japan now have
the majority of the world's microgrid capacity, along with the Asia Pacific
region as a whole. For major businesses to receive seamless assistance, there
is a strong requirement for reliable and ongoing network connectivity, which
makes the forecast for the Asia Pacific microgrid market share more favourable.
The industry is being impacted by the creative yet dependable communications
infrastructure that has been built as a result of regional government efforts.
According to International Data Corporation (IDC), expenditure on pay-TV and
telecommunications services in the Asia Pacific increased from USD 494 billion
in 2020 to USD 505 billion in 2017. Spending in the Asia Pacific region has
also grown, rising 1.6% year to USD 1,566 billion in 2021.
Microgrids are a significant component of the
future electrical ecosystem in the European market, where their primary
features include decarbonization, digitization, decentralisation, and non-wires
solutions. It aids in the transformation of industries across all sectors,
expanding production capacity; however, this also increases the system's need
on a steady supply of electricity.
A brief power outage can stop industrial
activities and result in large financial losses. The transportation industry,
which uses more than 30% of all primary energy, is also relevant to microgrids.
Even a tiny portion of this may be electrified, which would result in enormous
capacity in the upcoming years.
Market segmentation:
Capacity Evaluation
The market is divided into five categories based
on capacity: less than 5 MW, 5 MW–10 MW, 10 MW–20 MW, 20 MW–50 MW, and beyond
50 MW. Due to the low electrification rate of grid connectivity compared to the
other capacity categories, the over 50 MW sector retains a major position in
the market. Regardless of their capacity, all systems employ the same parts,
such as solar panels, charge controllers, and batteries, which may store more
energy over time.
As part of the medium-scale capacity, the segments
of 10 MW–20 MW and 20 MW–50 MW are also discussed.
Demand for capacity segments with capacities
between 10 and 20 MW and between 20 and 50 MW has increased due to the growing
need for improved technologies for power generation and distribution. The
simple accessibility of parts like panels, inverters, and others is another
factor driving up demand for medium-scale facilities.
utilising power source analysis
Increased CH Application Boosted the CHP
Segment
The market is divided into diesel generators,
natural gas, solar PV, CHP, and other power sources. Because it reduces
consumers' overall energy expenses, the CHP segment commands a large portion of
the market.
Due to its adaptability and abundance, natural gas
has a substantial market share and powers Distributed
energy resources market sizewith very little
environmental effect. The abundant supply of natural gas and its adaptability
to a wide range of uses are driving up demand for CHP on the international
market.
The educational institutions, rural locations,
military, utility distribution, commercial & industrial, and other
categories make up the market's application-based segments. The demand for
microgrids in educational institutions has increased due to a paradigm shift
toward the use of safe and dependable power production units and the continuing
development of novel technology to provide a resilient power supply against
grid instability.
Significant heating and cooling requirements are
present in the commercial and industrial sectors, and there are substantial
prospects for cost reduction and emission reduction. The market for commercial
& industrial is anticipated to expand quickly since they are often vast
locations that may serve as emergency shelters during catastrophic events like
cyclones, forest fires, and earthquakes.
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Market Overview:
There
are different drives from the public authority for the improvement of the
foundation. Thus, the development sought after for solid power prompts the
development of the Gas
Insulated Transformer Market during the estimated time frame.
With gas insulated transformers, the gas used eliminates
routine oil inspections and increased awareness of environmental concerns
because it is non-hazardous and non-combustible.
These
transformers are widely employed in medium and high voltage applications,
including underground retail establishments, nuclear, hydroelectric, and
synthetic power facilities, as well as public water offices.They are utilized
for transmission and dissemination purposes to make a more dependable and safe
power framework.
The
market is projected to develop at a higher rate during the gauge time frame,
significantly because of the ascent popular for clean energy age and
inexhaustible wellsprings of energy. Legislatures all over the planet have
created alluring impetuses, remunerating the utilization of sustainable
wellsprings of energy, which further drives the development of the Gas
Insulated Transformer Market around the world.
Key
Players:
·
ABB Ltd.
(Switzerland)
·
General
Electric (US)
·
Mitsubishi
Electric Corporation (Japan)
·
Siemens
AG (Germany)
·
Toshiba
Corporation (Japan)
·
Arteche
(Spain)
·
Meidensha
Corporation (Japan)
·
Takaoka
Toko Co. Ltd (Japan)
·
Fuji
Electric co. Ltd. (Japan)
·
Chint
Group (China)
Market Segmentation:
By
Voltage Rating (Medium, High and Extra High), By End-Use (Utility, Industrial
and Commercial), By Type (Instrument Transformer and Others), By Type of
Cooling (Gas Directed Air Natural Cooling, Gas Directed Air Forced Cooling and
Gas Directed Water Forced Cooling), By Installation (Outdoor and Indoor), And
By Region (North America, Europe, Asia-Pacific, And Rest Of The World)
Gas-protected
transformers are additionally divided in light of end-use, as utility, modern,
and business. Modern and business sections of the worldwide Gas-Insulated
Power Transformers Market Sizeare projected to develop at high speed because of the
increment in framework advancement and government drives.
Regional Analysis:
Asia-Pacific
holds the biggest portion of the gas-protected transformer market, particularly
because of the interest in countries, such as China, Japan, and India, where
specialists are centered around developing the transmission and dispersion
network.
Asia-Pacific
is considered to have the most noteworthy populace, which leads to the ascent
sought after for power and accessibility of framework with higher
effectiveness. Most nations in the district are chipping away at the
advancement and extension of force matrices. Such factors increment the
development of the local market.
Industry News:
Gas is used as the transformer's cooling and protection
system in a gas-protected transformer. The gas used in the gas-protected
transformer is sulphur hexafluoride, or SF6. These transformers are popular due
to their amicable current situation, non-unstability, and non-combustible
character.
Also,
there is no need to check the oil strength, use a conservator, or find a
replacement when using them. The best specialised features are built into these
transformers, making them ideal for hydropower, subterranean substations, and
seaward substations.
Right
now, in the transformer business, gas-protected transformers are liked over
oil-protected transformers because of their various profitable. Thus, it is
assessed that there will be a huge development in gas protected transformer
market because of different benefits and the amicable climate applications.
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Distributed Control Systems (DCS) Market
The variable
speed generator marketis growing rapidly.
Variable speed generators offer attributes, such as rugged built, lightweight,
cost efficiency & work efficiency, and reliably low after-sale maintenance,
increasing the market demand.
According to Market Research Future
(MRFR), the global variable speed generator market is estimated to grow to USD
14.15 BN by 2032, registering a 9.03% CAGR during the forecast period (2023-2032).
With the continual rise in end-use
industries, such as renewable power generation and others, the market is
projected to witness significant traction over the next few years.
The introduction of innovative
technologies that can enhance safety & performance while declining
component prices has exponentially increased the sales of variable speed
generators. Conversely, non-suitable applications where these motors need a high
load to start are major applications projected to impede the market growth.
Nevertheless, future technological upgrades would support market growth
throughout the forecast period.
Major Players
Players leading the global variable
speed generator market are
·
Cummins
Inc. (U.S.)
·
Siemens AG
(Germany)
·
Ausonia srl
(Italy)
·
GENERAL
ELECTRIC (U.S.)
·
ABB
(Switzerland)
·
YANMAR CO.
LTD. (Japan)
·
Innovus
Power Inc. (U.S.)
·
Generac
Power Systems Inc. (U.S.)
·
HIMOINSA
(Spain)
·
Fischer
Panda GmbH (Germany)
·
WhisperPower
B.V. (The Netherlands)
Global Variable Speed Generator
Market – Segments
Variable Speed Generator Type
Outlook
·
Variable
Speed-Self Excited Induction Generator
·
Doubly Fed
Induction Generator
·
Wound Rotor
Induction Generator
·
Permanent
Magnet Synchronous Generator
Variable Speed Generator Rating Type
Outlook
·
Up to 100
KVA
·
100 KVA-1
MVA
·
1 MVA-25MVA
·
Above 25
MVA
Variable Speed Generator Technology
Outlook
·
Power
Electronics-based Variable Speed Generators
·
Mechanical
Variable Speed Generators
Variable Speed Generator Prime Mover
Outlook
·
Internal
Combustion Engines
·
Hydro
Turbines
·
Steam &
Gas Turbines
·
Wind
Turbines
Variable Speed Generator End-User
Outlook
·
Hydroelectric
Power Generation
·
Renewable
Power Generation
·
Oil &
Gas And Mining
·
Aerospace
And Telecommunications
·
Marine And
Shipbuilding
·
Commercial
And Residential
Variable Speed Generator Market
– Regional Analysis
The Asia Pacific region dominates the
global Variable
frequency generator market size. Factors such as
increasing government mandates to propel energy efficiency, a slew of renewable
energy sources, and modernization of hydropower plants drive the market growth.
Besides, the high demand and production rate of variable speed generators
substantiate the market size.
Global Variable Speed Generator
Market – Competitive Analysis
Highly competitive, the variable speed
generator market appears to be fragmented due to several well-established
players accounting for a substantial market share. Players incorporate
strategic approaches such as mergers & acquisitions, collaborations,
expansions, and product & technology launches to gain substantial
competitive advantage.
Industry/ Innovation/ Related
News
June 07, 2021 --- The two generating units of the 132 MW Torrejon
pumped-storage hydroelectric facility in Spain will be modernised, according to
a deal signed by Iberdrola and Indar (Spain), a global leader in rotating
electrical equipment, motors, and generators. The plant would be upgraded to
operate at full power and variable speed as part of the upgrading.
Due to INDAR's high level of
operational flexibility, hydropower plants are being used more flexibly and the
stability of Europe's electric power networks is rising.
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Market Overview:
Upgrades in utility infrastructure, increasing
investments in the industrial sector, and relevant government regulations in
various nations are all contributing to the expansion, which is expected to
continue during the projection period.
During the projected period, the global field-erected
cooling tower marketis expected to rise at a remarkable
rate. The field-erected cooling tower market has been spurred in various
countries by significant growth in the power industry due to population growth
and increased energy demand.
Field-erected towers are larger towers that are
typically used in oil refineries, thermal power plants, petrochemical plants,
and other similar facilities to dissipate waste heat and keep water circulation
at the proper temperature.
The global field-erected cooling tower markethas
been expanding in breadth in recent years, and it is expected to reach a
certain level of expansion in the next years as a result of a steady increase
in industrial activities and growing worries about the world's environmental
difficulties.The field-erected cooling
tower is designed for a wide range of applications in large-scale heat
rejection systems.
Market Segmentation:
The global field-erected cooling tower
market has been categorised by type, design, end-user, and geography. The
market for field-erected cooling towers is divided into three types: wet, dry,
and hybrid. The wet field-erected cooling tower segment dominated the market,
while the dry type segment is expected to develop at the fastest rate over the
projection period.
Cooling towers are classified by design based on the
air circulation method. Natural draught, forced draught, and induced draught
are the three types of cooling tower designs. Induced draught cooling towers
are more efficient than forced draught cooling towers.
The market is divided into power generation,
petrochemicals & oil & gas, iron & steel & metallurgy, paper
mills, and others, according to the end-user.
In 2016, the power generating industry dominated the
market, and over the next five years, it is expected to be the fastest-growing
end-user segment. In 2017, the Asia-Pacific region, which includes China,
India, and Japan, accounted for the majority of the global field-erected
cooling towers market.
Regional Classification:
Due to global urbanisation and rising energy
consumption, Asia Pacific dominates theglobal field-erected cooling
tower market size. Brazil, China, and India are among the world's
fastest-growing economies. However, the government's focus on the construction
of power plants to increase energy generation and compete for ever-increasing
electricity demand in the future may help to promote worldwide market growth.
Theglobal Industrial
cooling towers market is expected to increase in response to China's and
India's growing populations and economic stability. In the future, the rising
demand for better electricity for domestic, industrial, and transportation
purposes could create new growth prospects. Due to sluggish growth in these
regions over the next few years, Europe and North America generated the biggest
market share.
Industry News:
It is anticipated that the rising number of
construction projects in the residential and commercial sectors in developing
nations would create prospective business possibilities for cooling towers.
Furthermore, the market is growing as a result of the quickening pace of global
industrialization. The global field-erected cooling tower market size was
significantly impacted by the global pandemic, as well as the resulting
constraints and interruptions in supply chains and industrial processes across
a variety of industries.
Due to the presence of multiple major competitors, the
sector is quite competitive. To increase their market share and obtain a
competitive edge, the majority of firms are seeking inorganic growth strategies
like acquisitions, mergers, and regional expansion.
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Market Research Future
Insights
The Global Distributed
Control System Marketis estimated to be worth
USD 13.8 Billion by 2030, registering a 13.8% CAGR during the forecast period
(2023- 2030).
The distributed control system is a
customized system that includes separate controllers dedicated to each machine
or a particular group of machines. It is an automated system that controls
numerous process elements, distributed over an industrial plant.
The local controllers in various
sections of an industrial plant communicate with each other, and the overall
system, via a high-speed network.
These local controllers are
microprocessing units that obtain data and execute the control functions in a
distributed control system. Numerous communication protocols like Modbus,
Arc Net, HART, and Profibus are applied for communication establishment among
these controllers.
Increasing power requirements of end
users and growing awareness about emissions-free electricity will push for the
deployment of distributed management systems on the global market. Boosting oil
production and rearing energy demand will push the need for the deployment of
DCS at scales across the oil and gas and electricity sector, which is estimated
to boost the market in the forecast period.
Further, the massive demand for I/O and
the proliferation of digital networks in the process control system would
transform the market. Also, company development and an upsurge in revenue
generation are projected to enable growth in the globally distributed control
system market.
The Global Distributed Control System
Market report provides an integrated market evaluation. The report tenders to a
comprehensive analysis of key segments, trends, drivers, restraints,
competitive landscape, and factors that are playing a significant role in the
market.
Key Players
·
Emerson
(USA)
·
ABB
(Switzerland)
·
Schneider
Electric (France)
·
Rockwell
Automation (US)
·
Siemens
(Germany)
·
General
Electric (US)
·
Yokogawa
(Japan)
·
Honeywell
International Inc. (US)
·
Toshiba
(Japan)
·
Azbil
Corporation (Japan)
·
Hitachi
(Japan)
·
Metso
Corporation (Finland)
Regional Analysis
The Global Distributed Control System
Market is divided into five regions; North America, Asia Pacific, Europe, Latin
America, and the Middle East & Africa.
North America is a significant region
in the distributed control system market. The growth of the regional market can
be ascribed to the rapid growth of the oil & gas industry and the
increasing demand for power generation.
Asia Pacific represented the largest
distributed control systems market globally in 2021 and is projected to retain
its leading position throughout the forecast period of 2022–2020. The dominance
and expected growth in the region is largely due to massive investments made in
augmenting oil and gas production and refining capacities.
Europe is set to experience substantial
growth backed by the augmenting oil and gas production and exploration
activities in countries such as Italy, Spain, and Germany. Europe is estimated
to show healthy growth in the overall market according to a market study.
Market Segmentation
The Global Process
control systems Market Sizeis segmented into the
following types;
By Application
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Market Analysis
The global directional
drilling marketwill develop at a 13.8% CAGR
between 2023 - 2030, states the recent Market Research Future (MRFR) analysis.
Directional drilling, simply put, is targeted
drilling that includes attacking wells from different angles and also to better
access oil & gas reserves. It uses various instruments like drill bits, 3D
measuring devices, whip stocks, and mud motors.
Directional drilling also helps in the boring of
several wells with the same vertical bore that reduces the environmental
effects of the process.
Various factors are propelling the global
directional drilling market share. According to the recent MRFR report, such
factors include the growing demand for onshore exploration activities, rapid
economic development across the globe, high accuracy of these methods,
decreasing extraction costs, increased efficiency, greater profits, tapping of
unexplored oil reserves, and increased production of shale gas.
On the contrary, contamination of groundwater
reserves during leakages, the need for well-trained manpower and specialized
equipment, high initial investment capital, and the current COVID-19 pandemic
may deter the global directional drilling market growth over the forecast
period.
Key Players
·
Baker Hughes Incorporated (U.S.)
·
National Oilwell Varco (U.S.)
·
Weatherford International Plc. (U.S.)
·
Schlumberger Ltd (U.S.)
·
Halliburton Company (U.S.)
·
Nabors Industries Ltd (Bermuda)
·
Cathedral Energy Services Ltd (Canada)
·
Gyrodata Incorporated (U.S.)
Market Segmentation
The MRFR report highlights an inclusive segmental
analysis of the global directional drilling market based on services, well
type, and application.
By application, the global directional drilling
market is segmented into offshore and onshore. Of these, the onshore segment
will lead the market over the forecast period as the onshore segment is
witnessing an increase in new exploration activities along with more fields
becoming mature.
By well type, the global directional drilling
market is segmented into extended reach wells, multilateral wells, and
horizontal wells. Of these, the horizontal wells will dominate the market over
the forecast period for their significance in higher production rate as well as
exposure of greater wellbore length.
By services, the global directional drilling
market is segmented into motors, measurement while drilling (MWD), logging
while drilling (LWD), and rotary steerable system. Of these, the LWD segment
will spearhead the market over the forecast period for its perks in cost
savings & acquiring the formation data.
Regional Analysis
By region, the global directional drilling market
covers the growth opportunities and recent trends across Europe, North America,
the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA).
Of these, North America will have the lions share
in the market over the forecast period. Increasing directional and horizontal
drilling activities in Canada and the US, presence of largest
technically-recoverable shale gas reserves and presence of second-largest tight
oil reserves, technological advances in hydraulic fracturing, low breakeven
prices, new offshore projects and redevelopment of mature fields, recovering
drilling activity, production of new oil wells, rapid growth in drilling
activities, rise in several horizontal wells, and a large number of oil
exploration actions are adding to the global directional drilling market growth
in the region.
In Europe, the global directional drilling market
is predicted to hold the second-largest share over the forecast period for
rapid progress to develop better directional drilling techniques is adding to
the global directional drilling market growth in the region. Germany and the
United Kingdom have the utmost share in the market.
In the APAC region, the global directional
drilling market is predicted to have healthy growth during the forecast period.
Rising consumption of oil and gas is adding market growth.
In the MEA, the global directional drilling market
is predicted to have sound growth over the forecast period for the presence of
largest oil reserves in the globe, advances in drilling technologies, need for
greater efficiency, high incomes, growing demand for fuel from budding nations
and mounting exploration activities.
In Latin America, the global Horizontal
drilling market sizeis predicted to have steady
growth over the forecast period.
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Market Research Future Insights
According to MRFR analysis, the Diesel
Generator Market is expected to register a CAGR of~8.70% from 2023 to 2030 and
hold a value of over USD 30.89 billion by 2030.
The Diesel Generator Market refers to the global
market for diesel-powered generators that are used to generate electricity.
Diesel generators are commonly used in places where there is no access to the
power grid or during power outages.
The market includes the production, sale, and
distribution of diesel generators of different sizes and power output
capacities, as well as the associated services, such as installation,
maintenance, and repair. The market is highly competitive, with numerous
manufacturers and suppliers offering a wide range of products to meet the
diverse needs of customers in different regions and industries.
The COVID-19 pandemic had a significant impact on
the global Diesel Generator Market. The pandemic has disrupted global supply
chains, affecting the availability of raw materials and components needed to
manufacture diesel generators. This has led to delays in production and
increased prices of finished products.
The lockdowns and restrictions imposed by
governments to control the spread of the virus have led to a reduction in
demand for diesel generators in some sectors, such as the construction
industry, which has slowed down significantly.
Key Players
Some of the key market players are:
Regional Analysis
Asia Pacific is currently the largest region for
the Diesel Generator Market. The growth of the Asia Pacific Diesel Generator
Market is driven by factors such as rapid industrialization, urbanization, and
a growing demand for reliable backup power.
In countries such as China and India, which have
large populations and rapidly developing economies, the demand for diesel
generators is high due to frequent power outages and an unreliable power grid.
The increasing adoption of diesel generators in other sectors such as
healthcare, data centers, and telecommunication infrastructure has also
contributed to the growth of the market.
Market Segmentation
The Backup
power generators Market has been segmented into application and end-use.
Based on the application, the market has been
segmented into prime power, standby power and peak shaving.
Based on the end-use, the market has been segmented
into industrial, commercial and agriculture.
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Market overview
The Thermal
Energy Storage Market is expected to register USD 67.22 billion
by 2030 with a CAGR of 12.50%, and the market is valued at USD 26.2 billion in
2022. The thermal energy storage system is used to store energy for future use.
Thermal energy storage is also called heat storage. It is an efficient method
to transfer energy without chemical conversion. It is an eco-friendly and
feasible energy-saving solution. The system reduces energy conservation, carbon
dioxide emission and many others.
The system's effectiveness depends
on the type of material used in solar plants, combined heat and power plants,
thermal power plants etc. the market is driven by many industries acquiring
renewable energy sources for future use. Pandemic affected the Thermal
Energy Storage Market negatively to lessen the limit of the virus
spread; the government took several steps like quarantine, zero movement, and
others. The market was unable to get raw materials and manufacturers. The
production was stopped. proper social information by the government and
awareness by the people of the different countries are driving factors for the
market.
The flexibility in usage and
improvement in the rate of construction of buildings are forming new growth
opportunities for the market. The initial installat6ion cost and complex design
and operation can challenge the market growth and drawback the market from
going forward.
Market segmentation
The market is segmented into
technology, application and materials. Based on the technology, the market is
classified into Sensible heat storage, Latent heat storage, Thermochemical
storage. The material is fragmented into molten salts, phase change materials,
water and others. by the segment application, the thermal energy
storage market is bifurcated into centralized heating and cooling,
power generation and decentralized heating and cooling. Sensible heat thermal
is expected to register high growth. The sensible heat thermal storage is
achieved by heating the storage medium that increases its energy content but
not without changing the state in the accumulation time. All the segments
contribute to the market growth and push the market forward.
Regional analysis
The Thermal
Energy Storage Technologies market has been divided into
Europe, North America, Asia Pacific, Middle East, Africa, and Latin America.
North America holds the largest growth rate due to its high energy storage
capacity. Thermal energy storage is used to provide cooling capacity to
commercial buildings. The Asia Pacific will experience the second-highest
growth due to the rising population, high energy use and strict usage of
renewable energy.
The European region is inclined to
the green environment and uses green energy. They are inclining towards the
thermal energy which propels the Thermal Energy Storage Market. Market players
of several regions are interested in investing in the market and contributing
to the growth. The market is availing further growth in the forecast period.
Industry news
The thermal energy startup Antora
energy raised US$50 million from a bunch of investment firms in which bill
gates firm was also included to accelerate the development of its heat-based
carbon block energy storage system.
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Market Overview
The Smart
Meters MarketReport by Market Research Future
(MRFR), states different factors that can impact the market across the
assessment period, along with the impact of COVID-19 on it.
As per MRFR study, the global market of smart
meters is expected to rise at 8.20% CAGR in the years to come. MRFR findings
show that the world market of smart meters value can worth USD 40.85 Bn by 2032.
The rise of the Smart Meters Market Size and
change in the Smart Meters Market Share in different regions are expected are
elaborated in the report.
The increase in popularity of smart meters due to
the growing awareness about its high accuracy meter readings and real time
results can underpin the expansion of the world market in the years to come.
The high real-time results in smart meters that
are used send messages in wireless connections and automatically to provider
can impel the expansion of the market through the review period.
Key Players
·
Siemens AG. (Germany)
·
Schneider Electric (France)
·
Landis+Gyr (Switzerland)
·
Aclara Technologies LLC (U.S.)
·
Xylem Inc. (US)
·
Badger Meter Inc. (US)
·
Itron Inc. (US)
·
Honeywell International Inc. (US)
·
EDMI (Singapore)
·
DIEHL Metering (Germany)
·
Apator Group (Poland)
·
Kamstrup A/S (Denmark)
·
Zenner (Germany)
Segmental Analysis
The segment study of the world smart meters market
are application, type, and technology.
The type based segments of the smart meter market
are electric meters, water meters, and gas meters. The electric meters segment
can rise at a high pace across the evaluation period. The electric smart meter
type segment can rise at 55.6% CAGR and the gas meter market segment can rise
at 9.56% CAGR in the forecast period.
The technology based segments of the smart meter
market are automatic meter reading (AMR) and advanced metering infrastructure
(AMI). The AMI segment of the market is likely to rise at 9.77% CAGR in the
forecast period due to high utility of new technologies.
The application based segments of the smart meter
market are commercial, residential, and industrial. The residential segment can
thrive at 9.81% CAGR in the review period as passenger transportation rise.
Detailed Regional Analysis
The Advanced
metering infrastructure market Sizein the Asia
Pacific region can rise at a high pace due to increase in smart cities projects
across economically powerful regions APAC, such as Thailand and India. The high
need for energy by the expanding population and enhancements in the way of
living of people the region can promote the expansion of APAC smart meter
market in the years ahead.
The surge in T&D and demand levels across the
market can promote the growth of the market. The smart meter market in Asia
Pacific 9.91% CAGR in the assessment period. In North America, the smart meter
market is likely to rise at high pace as power transmission & distribution
holds the key to smart grid technology consumers.
In Europe, the expansion of the smart meters
market can underline the regional growth. The expansion of Europe smart meter
market can be attributed to increase in the demand for electricity across major
towns in the region. The escalation of population level and changes in
lifestyle can push the growth of the regional market through the assessment
period. The regional smart meters market can rise at 9.91% CAGR in forecast
period.
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Quality Equipment Industry
The global Diesel Genset marketis expected to register
a CAGR of ~6.1% from 2023 to 2030 and hold a value of
over USD 31,581.01 Million by 2030.
A diesel genset is a type
of generator that uses a diesel engine to generate electricity. The engine
drives an alternator that produces electrical power, which can be used as a
backup power source in case of a power outage or off-grid applications.
The COVID-19 pandemic has
had a significant impact on the diesel genset market, with both positive and
negative effects.
On
the one hand, the lockdowns and restrictions on movement have led to a decrease
in demand for diesel gensets, as there has been a decrease in construction and
industrial activities.
On
the other hand, there has been an increased demand for diesel gensets as backup
power sources in residential and commercial buildings, as the pandemic has led
to an increased need for reliable electricity supply in case of power outages.
Additionally, the healthcare sector has seen an increase in demand for diesel
gensets, as they are used to power medical equipment and facilities.
Key Players
·
Cummins Inc. (US)
·
Aggreko Ltd (UK)
·
SDMO (France)
·
PRAMAC (Italy)
·
Generac Holdings Inc.
(US)
·
HIMOINSA (Spain)
·
Caterpillar (US)
·
Atlas Copco (Sweden)
·
Doosan Corp (South Korea)
·
AB Volvo (Sweden)
Regional Analysis
The
Asia-Pacific region is expected to be the fastest-growing market for diesel
gensets, due to factors such as the large population, rapidly growing
economies, and increasing demand for reliable power supply in countries such as
China, India, and Japan. Additionally, supportive government policies and initiatives,
as well as the presence of major market players, are contributing to the growth
of the diesel genset market in the Asia-Pacific region. The region's increasing
investment in infrastructure development and industrialization is also driving
the growth of the diesel genset market.
Market Segmentation
The
Global Emergency
power systems market Size has been segmented into probability, application,
and power rating.
Based
on the probability, the market has been segmented into Stationary and Portable.
Based
on the power rating, the market has been segmented into Up to 100 kVA, 100
kVA-350 kVA, 350 kVA-1,000 kVA, and Above 1,000 kVA.
Based
on the application, the market has been segmented into Standby, Peak Shaving,
and Continuous.
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