Hydrogen energy storage market is anticipated to grow at a significant CAGR of 13.5% during the forecast period (2024-2031).The market growth is attributed to the increasing demand for hydrogen energy storage in stationary power and transportation. According to the International Energy Agency (IEA), 2023, hydrogen demand will increase by more than 1.5 times to reach more than 150 Mt by 2030, with nearly 30.0% of that demand coming from new applications.
Gas engine market is anticipated to grow at a significant CAGR of 14.6% during the forecast period (2024-2031).The growth of the gas enginemarket is attributed to increasing demand for gas engines in applications such as industrial machinery, power generation, and automobiles driving the growth of the market.Gas engines can supply local facilities with heat and power, increasing resilience and energy efficiency in distributed energy systems, such as CHP applications.
Building-integrated photovoltaics market is anticipated to grow at a CAGR of 21.5% during the forecast period (2024-2031). Building-integrated photovoltaics (BIPV) are photovoltaic materials that are used to replace conventional building materials in parts of the building envelope, such as the roof, skylights, or facades. They are becoming increasingly popular as a way to generate renewable energy and reduce reliance on fossil fuels.
Alkaline battery market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period. The growing demand for alkaline battery from end-user industries is a key factor driving the growth of the global market. However, the high cost of these batteries may restrain its market growth.
Solid electrolyte market is anticipated to grow at an exponential CAGR of 32.8% during the forecast period (2024-2031). A solid-state electrolyte is a non-liquid substance capable of conducting ions, commonly employed in batteries to replace conventional liquid electrolytes. This transition offers various benefits, including improved safety, increased energy density, faster charging, and extended lifespan. Solid-state electrolytes find applications across electric vehicles (EV), consumer electronics, energy storage systems, and medical devices, where they contribute to improved performance and safety standards.
SOFC market is anticipated to grow at an exponential CAGR of 32.8% during the forecast period (2024-2031).SOFCs are electrochemical systems designed to directly convert the chemical energy of a fuel and oxidant into electrical energy. Their operational method, which relies on an electrochemical reaction rather than combustion, makes them remarkably more efficient and environmentally friendly compared to traditional electric power generation methods.
Battery cell market is anticipated to grow at a significant CAGR of 18.4% during the forecast period. The global market growth is driven by the high demand for battery cell among end-user industries including automotive, electronics, and healthcare among others.
Distributed energy generation market is anticipated to grow at a CAGR of 10.3% during the forecast period (2024-2031). An increase in advancement in distributed energy generation technologies drives the growth of the market. The growing adoption of reduced transmission and distribution losses, and improved grid stability and security are the key factors supporting the growth of the market globally. Distributed generation can help support the delivery of clean, reliable power to additional customers and reduce electricity losses along transmission and distribution lines.
Hydrogen generation market is anticipated to grow at a significant CAGR of 11.1% during the forecast period (2023-2030).The growing adoption of integrated green hydrogen coupled with the large scale generation of green hydrogen is the key factor supporting the growth of the market globally. Market players partnership helps to build the fundamental pillars of economic sustainability by driving decarbonisation of industry, power generation, mobility, and agriculture thereby mitigating climate change, and ensuring energy independence.
Stationary fuel cell market is anticipated to grow at a considerable CAGR of 13.1% during the forecast period. Stationary fuel cells are quiet and have very low emissions, so they are installed nearly anywhere. These systems provide power on-site directly to customers, without the efficiency losses of long-range grid transmission. Many companies around the globe are adopting fuel cells for primary and backup power including, Adobe, Apple, AT&T, CBS, Coca-Cola, Cox Communications, Delmarva Power, eBay, Google, Honda, Microsoft, Target and Walmart, and others.
Gas-insulated switchgear market is anticipated to grow at a CAGR of 6.1% during the forecast period. Gas-insulated switchgear (GIS) is a compact metal encapsulated switchgear consisting of high-voltage components such as circuit breakers and disconnectors, which can be safely operated in confined spaces. GIS is used where space is limited, for example, extensions, in city buildings, on roofs, offshore platforms, industrial plants, and hydropower plants.
Perforating gun market is anticipated to grow at a CAGR of 5.3% during the forecast period. Perforating guns are used in many industries but are commonly found in the oil and gas well industries. In the oil well industry, perforating guns are a standard tool used in connecting pipelines. A perforating gun is used to create openings in casings used in oil and gas well drilling.
Portable power station market is anticipated to grow at a CAGR of 4.5% during the forecast period. The growing establishment of start-ups of portable power station across the globe is the major factor driving the growth of the market. During recent years electric vehicle (EV) industry is growing rapidly, consumers require chargers and fast charging infrastructure to adopt EVs. To fulfil the demand start-up companies are launching products according to the demand of the consumers.
Residential energy management market is anticipated to grow at a considerable CAGR of 13.1% during the forecast period. Rising government initiative regarding green and sustainable energy usage for residential buildings is driving the residential energy management market. Governments globally are encouraging digitization to transform their national energy systems to boost efficiency and economic growth.
The global zonal isolation market is anticipated to grow at a considerable CAGR of 6.6% during the forecast period. Improving the productivity of the oil and gas wells has always been a priority for the energy operators, especially when the demand for oil and gas has been growing rapidly across the globe, owing to its higher usage for household consumption, industries, perfume, and cologne, and among others. The oil and gas industry has been making accelerated progress over the past decade, and oil field operators are continuously adopting new technologies for the extraction of oil and gas. Most of the oil and gas wells have different zones, they are exposed during the process of drilling and at the time of completion.
The global market for generator sets is projected to have a considerable CAGR of around 6.5% during the forecast period. Generator sets are equipped with an internal combustion engine. Depending on the needs and the type of fuel available, one can choose between a gasoline, diesel, or gas engine. Generator sets can add an extra layer of security in the event of brownouts or power outages and can provide a self-contained power supply in remote places off the power grid. Datacentre firms have become one of the largest consumers of electricity as a result of the widespread adoption of digital technologies.
The global wave and tidal energy market is anticipated to grow at a significant CAGR of 17% during the forecast period. The global wave and tidal energy market is witnessing increase in demand owing to a rise in project expansion across countries, resulting in huge electricity cost reductions.
The global wind turbine adhesive market is anticipated to grow at a significant CAGR during the forecast period. The wind turbine business has changed drastically in recent years as a result of significant technological advancement and greater governmental and private sector investment.
The global solar energy adhesives market is anticipated to grow at a significant CAGR during the forecast period. In the coming years, higher solar energy production volumes and automated adhesive assembly are estimated to lower costs.
The global grid-scale electricity storage market is expected to grow at a significant CAGR during the forecast period (2021-2027). The major factors contributing to the growth of the market include the increasing demand for integration and storage of electricity produced from renewable sources such as solar photovoltaic and wind energy.
The global steam turbine control system market is expected to grow at a significant CAGR during the forecast period (2021-2027). Turbine control systems are digital systems that regulate and protect many types of turbines, such as hydro, steam, wind, and gas turbines.
The global homatropine methylbromide market is expected to grow at a significant CAGR during the forecast period (2021-2027). The drug homatropine methylbromide belongs to a class of drugs known as anti-muscarinic.
The thermal energy storage market is anticipated to grow at a CAGR of more than 8.0% during the forecast period. The thermal energy storage industry is anticipated to witness high growth with the growing emphasis on technology that supports a decrease in the emission of greenhouse gases and rising energy dependency on renewable energy sources expected to fuel the demand for thermal energy storage systems.
The US Battery Recycling market is anticipated to grow at a CAGR 5.0% during the forecast period. The US battery recycling market is mainly driven by stringent government regulations imposing to support the environment by recycling harmful batteries. In the US, federal law requires, used nickel cadmium (Ni-Cd) and lead (Pb) batteries to be managed as Universal Waste.
UK battery recycling market is anticipated to grow at a CAGR 5.5% during the forecast period. The growth of UK battery recycling market is attributed to the rise in support from government bodies regarding the implementation of battery recycling processes.
The North American Battery Recycling market is anticipated to grow at a CAGR 5.1% during the forecast period. The growth is attributed to the imposition of stringent environmental norms set by several government institutions in emerging economies such as Canada and the US. The rechargeable battery industry has formed the Rechargeable Battery Recycling Corporation (RBBC) which operates a battery recycling program called Call2Recycle throughout the US and Canada.
The Indian Battery Recycling market is anticipated to grow at a CAGR 9.1% during the forecast period. A lead-acid battery is increasingly used in railways, transportation, automobiles and many other sectors and is further rising with solar and wind schemes launched by the government.
Germany battery recycling market is anticipated to grow at a CAGR 5.8% during the forecast period. Germany’s waste management success comes up due to the strong government policy and its citizens embracing recycling. Germany’s waste management policies have propelled the country to the top of the battery recycling list.
The France Battery Recycling market is anticipated to grow at a CAGR 5.9% during the forecast period. The supportive initiatives taken by the government bodies regarding implementation of battery recycling process is expected to increase the battery recycling rates in region.
The European Battery Recycling market is anticipated to grow at a CAGR 5.4% during the forecast period. The recycling efficiency targets set by the European government is expected to boost the demand for battery recycling services.
The China Battery Recycling market is anticipated to grow at a CAGR 8.9% during the forecast period. China was the world’s largest electric vehicle market with over40 % of the electric vehicles sold across the globe. The country added 336,000 new electric car registrations which included battery-only and hybrid models.
The Canada Battery Recycling market is anticipated to grow at a CAGR 5.2% during the forecast period. Canada’s battery recycling market continues to expand and evolve in order to meet the recycling demands of growing waste stream of batteries.
The Asia-Pacific Battery Recycling market is anticipated to grow at a CAGR 8.7% during the forecast period. The factor such as stringent environmental regulations, rising automotive sector in this region, reduced labor cost associated with battery recycling are major factors boosting the Asia-Pacific battery recycling market growth.
The global battery recycling market is anticipated to grow at a considerable CAGR of 6.5% during the forecast period. The major factors contributing to the growth of the market include stringent government regulations. In addition, growing end-user industries such as consumer electronics, industrial applications, and automobiles are spurring the growth of the market. Automobile application of the battery recycling industry is expected to witness growth owing to the increasing demand for lithium-ion batteries for electric vehicles due to their high efficiency, long life, and low maintenance.
Electrostatic precipitators market is growing at a significant CAGR of 4.2% owing to its increasing application in various industry verticals such as power and electricity, cement, power plants along with many others.
Flow batteries are rechargeable batteries that are
emerging as an alternative to fuel cells. There are different types of
flow batteries such as redox, hybrid, and a membrane-less battery that
are available in the market. One of the major benefits offered by the
flow batteries include is their ability to get instantly recharged by
changing the electrolyte liquid. Flow batteries perform better during
deeper discharge cycles.
Energy management system (EMS) market is expected to
grow at a moderate rate during the forecast period 2019-2025. The energy
management system (EMS) is used to control, monitor and conserve energy
in various areas such as home and building or organization. In the
process, energy consumption is metered and collects data, and the EMS
system reduce the energy consumption.
The global market for the solar tracker is projected to have a considerable CAGR of around 11.6% during the forecast period. Solar trackers are used to increasing the energy output from the solar panel by following the movement of the sun as it rotates from the east to the west every day.
The global small wind turbine market is estimated to exhibit considerable growth during the forecast period. Small wind turbines are electric generators that use wind energy to produce emission-free power for farms, commercials, and residential purposes.