Energy & Power

Global  Diesel Genset Market  is expected to reach USD 21.37 billion by 2022. The presence of a large electricity demand-supply gap owing to increase in demand from of mining, telecom, retail and oil & gas sector, is projected to drive diesel gensets industry. The market for industrial use was valued at USD 3.93 billion in 2014. Industrial Diesel Genset is expected to grow substantially over the forecast period owing to the occurrence of frequent power failures resulting in high monetary losses. Furthermore, rapid industrialization in Asia Pacific and the Middle East & Africa is expected to fuel industry growth. The market was dominated by low powered gensets in 2014, and this trend is projected to continue over the forecast period. Growing power shortage in countries including Singapore, China and India is expected to further fuel growth. Furthermore, rising occurrence of natural calamities such as floods and earthquakes is projected to bolster further demand for genset

The global  wind energy foundation market  is expected to reach USD 241.14 billion by 2024, according to a new report by Grand View Research, Inc. Increasing concerns over depleting petroleum resources has resulted in influencing growing demand for renewable energy. Increasing global population and industrialization have become major factors for moving towards non-conventional resources. Wind energy is gaining momentum over the past few years on account of major capacity additions owing to the declining prices. Recently there have been dramatic reductions in costs on account of increasing research and development. Growing demand for expansion of electricity generation and access is expected to be a major driver for the industry over the forecast period. Climate change and global warming are major factors responsible for the increasing focus on wind power and harnessing this power for the future generations. The demand for wind energy foundation was USD 73.46 billion in 2015.Appro

The global installed capacity for  hydropower  is expected to reach 1,524 GW by 2020, according to a new study by Grand View Research, Inc. Cost advantages of hydropower based electricity generation and the substitution of fossil fuel based power production in an attempt to reduce carbon emission is expected to drive market demand. According to the estimates of the International Energy Agency (IEA), the deployment of sustainable hydropower as proposed by this organization will help avoid approximately one billion tones of annual carbon dioxide emission by 2050.  Rapid rise in demand for renewable energy especially in China, India and Brazil and the construction of key hydropower projects including the installation of 32 turbines and the completion of the third phase of the Three Gorges Dam in China in 2012, will fuel the future growth of this market. Supportive regulatory framework for sustainable energy in the U.S. and European Union is also expected to have a positive impact on m

The global  solar PV market  is expected to reach 489.8 GW by 2020, according to a new study by Grand View Research, Inc. Growing push for sustainability has led to increased focus on renewable energy forms such as solar PV. In addition, favorable regulatory policies such as Feed in Tariff (FIT) is expected to further increase installed capacity, particularly along the Sunbelt countries. The reduction in price of PV modules is expected to lower the cost of energy generated by solar PV to USD 0.07 – USD 0.16, making it competitive to oil or gas fired peak power plants. Countries with large PV potential such as Brazil, Chile and Saudi Arabia have not expanded as expected and this is expected to hamper the development of the market over the next six years. Aggressive capacity addition, particularly in China is expected to make the market oversupplied resulting in further lowering of prices. Product differentiation and innovation is extremely crucial with companies diversifying in both

The global  hydrogen storage market  size is expected to reach USD 6.47 billion by 2025, according to a new report by Grand View Research, Inc. Favorable government regulations from U.S. DoE for producing alternative energy as fuel is expected to drive the market over the forecast period. Growing population and disposable income is projected to propel the market growth over the coming years. Rising concern for the production cost of hydrogen is projected to be a major challenge for demand. Increasing need for energy supply in power & energy sectors is anticipated to drive the growth for hydrogen storage systems. Rising focus to generate energy from renewable sources is expected to augment the market positively. The shift in trend towards producing alternative renewable energy from fuel cells, oxygen, and hydrogen is projected to propel the market. Increasing demand for power consumption on account of rapid urbanization and industrialization is anticipated to drive H 2  storag