According to the new market research report "Digital Utility Market by Network (Generation, Transmission and Distribution, and Retail), Technology (Hardware and Integrated Solutions (Cloud and Software, Services)), and Region (North America, Europe, and Asia-Pacific) - Global Forecast to 2022", published by MarketsandMarkets™, Global digital utility market is ... Read more
The electric insulator market is projected to reach USD 13.34 billion by 2023, from an estimated USD 10.17 billion in 2018, at a CAGR of 5.58%. In 2018, the market in Asia Pacific is estimated to be the largest, followed by North America. This growth can be attributed to the growing adoption of renewable energy sources, increasing investments in T&D networks, and refurbishment of ... Read more
The HVDC converter station market is projected to reach USD 11.57 billion by 2022 from an estimated USD 7.90 billion in 2017, at a CAGR of 7.92%, during the forecast period. The market in Asia Pacific is projected to be the fastest growing followed by Europe during the forecast period. The growth is attributed to the requirement of efficient and economical bulk power transfer from ... Read more
The smart meters market is projected to reach USD 19.98 billion by 2022, at a CAGR of 9.34% from 2017 to 2022. Smart meters are used in the industrial, commercial, and residential sector, measuring energy consumption of the consumers. Factors such as government policies & mandates in developed economies and accurate billing & improved customer service are driving the market globally. Residential ... Read more
The utility communication market is expected to grow at a CAGR of 15.55%, from 2016 to 2021, to reach a market size of USD 15.45 billion by 2021. Asia-Pacific is estimated to be the largest market for utility communication, followed by North America in 2016. This trend is expected to continue till 2021. The growth of the utility communication market is driven by the increasing use of ... Read more
The synchronous condenser market is expected to grow from an estimated USD 515.3 Million in 2016 to USD 572.9 Million by 2021, at an estimated CAGR of 2.1%. The global market is witnessing significant growth due to increasing renewable power generation, long service life, and rising need for power factor correction.
Hydrogen cooling segment is expected to ... Read more
The global temporary power market is estimated to reach USD 3.86 Billion in 2016, and is projected to grow at a CAGR of 10.6% from 2016 to 2021, to reach USD 6.40 Billion by 2021. Market growth is driven by factors such as the growing demand for power, aging grid infrastructure, and lack of access to electricity, and increasing construction and infrastructural activities across the globe. ... Read more
The global meter data management system market is projected to reach USD 428 million by 2023 from an estimated USD 169 million in 2018, at a CAGR of 20.48%. This growth can be attributed to the increased government policies and supportive mandates for smart meter installations and need for accurate utility bill generation.
The heat recovery steam generator market is expected to grow from an estimated USD 740.7 Million in 2015 to USD 888.2 Million by 2020, at a CAGR of 3.7% from 2015 to 2020. Factors such as increasing efforts to reduce global greenhouse gas emissions, growing adoption of CCPP & CHP, increasing global electricity demand & subsequent investments in power plants, and economic ... Read more
The protective relay market is projected to reach USD 4.54 billion by 2021, growing at a CAGR of 6.5% during the forecast period. The increasing investments in transmission & distribution infrastructure—including substations—and transmission & distribution lines, coupled with the increasing urbanization in developing nations, have propelled the growth of the protective relay market. ... Read more
The arc flash protection market is expected to grow from an estimated USD 1.85 Billion in 2017 to USD 2.41 Billion by value by 2022, at a CAGR of 5.38%. Equipment with installed arc flash protection devices provides improved equipment reliability while ensuring safety of personnel working in the vicinity. The global market is set to witness growth, due to increasing investments in ... Read more
The synchronous condensers market is projected to grow from an estimated USD 515.3 Million in 2016 to USD 572.9 Million by 2021. The growth is attributed to increasing renewable power generation, long service life, and rising need for power factor correction. Existing and planned upgradation and expansion of High-Voltage Direct Current (HVDC) network across the globe in various regions is expected to increase demand for power factor correction equipment such as synchronous condenser. ... Read more
The smart meters market is projected to reach USD 19.98 billion by 2022, at a CAGR of 9.34% from 2017 to 2022. The North American market is estimated to be the largest market for smart meters, followed by Asia-Pacific in 2017. This trend is expected to continue till 2022. Smart meters are used in the industrial, commercial, and residential sector, measuring energy consumption of the consumers. Factors such as ... Read more
The global gas insulated switchgear market is projected to reach a market size of USD 28.09 billion by 2023, growing at a CAGR of 8.73% during the forecast period. In 2018, the market in Asia Pacific is estimated to be the largest for gas insulated switchgear, followed by Europe. This trend is expected to continue till 2023. The growth of the gas insulated switchgear market is driven ... Read more
The global grid-scale battery market was valued at USD 0.87 Billion in 2017 and is expected to reach USD 5.82 Billion by 2023, at a CAGR of 33.52% between 2018 and 2023. Major factors driving the growth of the market include the increasing investments in renewable energy, reducing costs of grid-scale battery owing to technological advancements and expanded deployment.
The arc flash protection market is projected to grow from an estimated USD 1.85 Billion in 2017 to USD 2.41 Billion by 2022, at a CAGR of 5.38% from 2017 to 2022. The market in North America is estimated to be the largest markets for arc flash protection system and equipment, followed by the market in Europe. This trend is expected to continue till 2022. The growth of the arc flash ... Read more
According to the new market research report "Electrical Digital Twin Market by Twin Type (Gas & Steam Power Plant, Wind Farm, Digital Grid, Hydropower Plant, and Der), Application, Deployment (Cloud/Hosted and On-Premises), End-user, Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Electrical Digital ... Read more
The diesel generators market is expected to grow from an estimated USD 13.06 Billion in 2015 to USD 16.96 Billion by 2020, at a CAGR of 5.4% from 2015 to 2020. Diesel generators are widely used across different industries such as utilities, oil & gas, marine, mining, healthcare, and telecom among others. They provide continuous power supply during power outages as well as at locations ... Read more
HVDC converter stations are specialized substations that form the terminal equipment for high voltage direct current transmission lines. They convert direct current to alternating current and vice versa. HVDC converter stations are economically beneficial for transferring bulk power over long distances as they lead to low power losses and lesser environmental impact as compared to HVAC converter stations.
The transformer monitoring system market is projected to grow from an estimated USD 1.47 Billion in 2016 to USD 2.68 Billion by 2021, at a CAGR of 12.77% from 2016 to 2021. Asia-Pacific is estimated to be the largest market for transformer monitoring system, followed by North America. This trend is expected to continue till 2021. The global market is witnessing significant ... Read more
The smart electric meter market is projected to grow from an estimated USD 9.27 Billion in 2018 to USD 11.33 Billion by 2023, at a CAGR of 4.11%, from 2018 to 2023. The market is set to witness growth due to the increased need for efficient data monitoring systems coupled with favorable government policies for smart meter rollout, improved cost savings owing to the use of smart meters ... Read more
The Utility Drones Market is projected to reach USD 538.6 million by 2023, at a CAGR of 37.34% from 2018 to 2023. Drones that are mainly used for utilities inspection, survey, and asset management are called utility drones. In 2017, North America was the largest market for utility drones, followed by Asia Pacific and Europe. Growing demand for minimizing outages related to transmission and ... Read more
