Biomethane market is anticipated to grow at a significant CAGR of 13.3% during the forecast period (2024-2031). The growing adoption of renewable energy and sustainability goals, increasing demand for biomethane as a vehicle fuel, and government incentives and policies are the key factors supporting the growth of the market globally. The increasing technological advancement in anaerobic digestion & fermentation and thermal gasification results in an increase in the production of biomethane.
Polysilicon market is anticipated to grow at a CAGR of 14.2% during the forecast period (2024-2031). The growing shift toward renewable energy sources, particularly solar energy globally is a key factor for the high demand for polysilicon in 2022. The market players are expanding their manufacturing capacity to support the growing demand for polysilicon in the solar and semiconductor industry. In June 2023, WACKER expanded semiconductor-grade polysilicon production capacity in Burghausen.
Solar grade polysilicon market is anticipated to grow at a CAGR of 15.8% during the forecast period (2024-2031). Globally, the solar-grade polysilicon market is growing significantly due to the growing demand for solar photovoltaic installations. According to the data from the International Energy Agency (IEA), solar PV generation increased by 270.0 terawatt-hour (TWh) (up 26.0%) in 2022, reaching almost 1,300.0?TWh from 251.0 TWH in 2015. Among the countries, China is leading the overall market with around 85.0% of global polysilicon production capacity in 2022.
Hydrogen hubs market is anticipated to grow at a CAGR of 15.2% during the forecast period (2024-2031). The growing adoption of hydrogen hubs in refining and industrial sectors is the key factor supporting the market growth globally. The growth is primarily owing to the rising demand for green hydrogen for mobility in industrial applications in recent years. According to the International Energy Agency (IEA), the global hydrogen demand reached 95 Metric Ton (M) in 2022, almost 3.0% more than in 2021.
Solar panel for home market is anticipated to grow at a CAGR of 7.5% during the forecast period. Rooftop solar photovoltaic (PV) is considered a secure investment for end-use customers against the fluctuating electricity price. The cost efficiency of rooftop solar systems favors their adoption in residential spaces which in turn driving the global solar panel for home market.
Molten salt solar energy thermal storage and CSP market is anticipated to grow at a considerable CAGR of 18.7% during the forecast period. Molten salts are typically made up of 60% sodium nitrate and 40% potassium nitrate, and the salts melt at approximately 220°C. Molten salts are often used with concentrating solar power (CSP) plants to store thermal energy for electricity generation.
The global Solar Cooker market is anticipated to grow at a CAGR during the forecast period (2021-2027). The advancement in technology and rising awareness regarding renewable energy source is the factors enhancing the solar cooker market growth. Moreover, several government and non-profit organizations are promoting the use of solar cookers to reduce the fuel cost and to promote energy generation from renewable energy sources.
The global solar-powered vaccine refrigerator market is anticipated to grow at a significant CAGR of nearly 6.5% during the forecast period. The major factors that are driving the market growth include the governments are being keener, and cautious about the health care facilities provided to the citizens.
The global cooling tower market is anticipated to grow at a significant CAGR of 3.2% during the forecast period (2021-2027). One of the major drivers of the cooling tower market is the surge in the application of cooling towers.
The global floating solar panel market is anticipated to grow at a significant CAGR of 24.5% during the forecast period (2021-2027). One of the major drivers of the floating solar panel market is the growing awareness amongst people, and the government to increase the sources of renewable energy.
The global biopellet energy market is anticipated to grow at a significant CAGR during the forecast period. Biopellet or pellet fuels are biofuels made from biomass. Pellets are generally made from various biomass substances such as agricultural residues, energy crops, food waste and virgin lumber.
The global natural graphite for lithium batteries market is estimated to grow at a significant CAGR during the forecast period. Natural graphite appears to be a viable anode material for lithium-ion batteries.
The global hard carbon market is estimated to grow at a significant CAGR during the forecast period. Hard carbon is a solid type of carbon that, even at temperatures as high as 3000 °C, cannot be transformed to graphite by heat treatment.
The global aluminum-based battery market is anticipated to grow at a CAGR of 2.7% during the forecast period. Aluminum-based battery such as aluminum-ion battery offers the advantage of a volumetric capacity that is four times higher compared to lithium. Additionally, aluminum is the most abundant metal on the earth.
The global renewable energy industry includes solar, wind, hydro, biofuels and others, that are less carbon-intensive and create a more sustainable renewable energy system. The factors that were fueling the growth of the renewable energy market before the COVID-19 pandemic include rising concern about the safety of the environment coupled with a growing energy crisis.
US nickel cadmium battery market is expected to project a CAGR of around -0.5% during the forecast period. The US is estimated to show a decline in the nickel cadmium market during the forecast period, owing to the ban on the use of nickel cadmium batteries and the availability of alternative solutions. However, the use of a nickel cadmium battery can be seen in a few applications, namely, healthcare and power & utility. The US is one of the key countries in which the emphasis is on the uses of renewable energy.
UK nickel-cadmium battery market is estimated to witness a CAGR of around -1.6%, during the forecast period. UK is experiencing a decline in growth rate in the Ni-Cd market due to the regulations imposed by the EU in 2016. Based on the regulations imposed by the EU, UK is only using Ni-Cd batteries for alarming systems, emergency lighting, medical equipment, and cordless power tools.
North American nickel cadmium battery market is expected to project a CAGR of around -0.5% during the forecast period. North America is estimated to show a decline in the nickel cadmium market during the forecast period, owing to the ban on the use of nickel cadmium batteries and the availability of alternative solutions. However, the use of a nickel cadmium battery can be seen in a few applications, namely, healthcare and power & utility.
Germany nickel-cadmium battery market is estimated to witness a CAGR of around -1.1%, during the forecast period. The EU ban has slowed down the growth of the Ni-Cd market in Germany. In spite of very well established and monitored separate waste collection systems in Germany, the majority of Ni-Cd batteries are collected with residual household waste and possibly other waste streams, and either incinerated in municipally solid waste incineration plants, mechanical-biological treatment plants, in plants of treating non-ferrous metals separated from residual waste or directly landfilled.
France nickel-cadmium battery market is estimated to witness a CAGR of around -1.8%, during the forecast period. The high penetration of mobile phones in the region is expected to increase in the demand for mobile phone accessories. Also, the launch of new smartphones in France, that will further propel the market growth of innovative smartphones in the region.
European nickel-cadmium battery market is estimated to witness a CAGR of around -1.6%, during the forecast period. The market of Ni-Cd battery is declining at a considerable pace in Europe due to the ban implemented by the EU on Ni-Cd batteries. The Batteries Directive 2006/66/EC (repealing Directive 91/157/EEC) came into force on 26 September 2006. The directive sets out rules applicable to all batteries and accumulators that have presence in the EU market.
China nickel-cadmium battery market is estimated to witness a CAGR of around -0.3%, during the forecast period. Surging solar panel installation is expected to create ample opportunities for the market growth in the near future. Ni-Cd batteries are significantly used as an energy storage system for solar PV and wind turbines. According to the BP PLC, the country had total solar installed capacity of 131,000 MW in 2017.
Asia-Pacific nickel-cadmium battery market is estimated to witness a CAGR of around -0.4%, during the forecast period. Asia-Pacific is estimated to contribute considerably in the global Ni-Cd battery market owing to the rising consumer electronics industry, positive outlook for the renewable energy sources in the region, vast population base, and developing economies such as China, India, and South Korea in the region.
The US solar panel market is estimated to grow modestly at a CAGR of around 15.0% during the forecast period. The US is among the top countries in the world in electricity generated by the Sun and several of the world's largest utility-scale installations are located in the desert Southwest. The US contributes significantly in the growth of solar panel market in North America.
UK solar panel market is estimated to grow considerably at a CAGR of around 15.4% during the forecast period. UK is among the largest economy in Europe, majorly owing to its trading power and financial businesses. According to The Solar Trade Association (STA), the installation of solar panels in the country has been tumbling in 2017.
North American solar panel market is estimated to grow significantly at a CAGR of around 15.2% during the forecast period. The US and Canada are significantly contributing to the market growth due to various factors such as the high installation of solar panels, the significant presence of the automobile sector, and the high adoption of renewable energy. In North America, particularly in the US, there are numerous programs which are promoting the growth of the market.
Italy solar panel market is estimated to grow considerably at a CAGR of around 15.6% during the forecast period. Italy has a significant market share in the overall market. Italy has a significant market share in the overall market. This can be attributed to the fact that the overall installations of solar panels in Italy are significantly high. The country has witnessed significant growth in the solar industry in the past years.
Germany solar panel market is estimated to grow considerably, at a CAGR of around 15.3%, during the forecast period. Germany has a considerable market share in the global solar panel market, due to increasing environmental issues and a rise in the adoption of solar panel technology for an eco-friendly environment. Germany is the largest European trading partner of the US and the sixth-largest market for the export of goods to the US as per Export.gov.
The US E-Fuel market is anticipated to grow at a CAGR 20.9% during the forecast period. The US market is dominating due to factors such as investments in R&D and high per-capita income of the population. The transportation accounts for the most carbon emission than any other sector in the US. Therefore, the advanced technological sector of the country has started the development of e-fuel based vehicles in the market.
UK E-Fuel market is anticipated to grow at a CAGR 23.9% during the forecast period. The major factors that are increasing the market are high production of biofuels including biodiesel and ethanol and increasing automobile sales in the UK.
Spain E-Fuel market is anticipated to grow at a CAGR 23.6% during the forecast period. Spain is amongst one of the world leaders in terms of renewable energies both as a producer of renewable energy and exporter of such technology. The country has witnessed significant shift from non-renewable sources of energy to renewable sources of energy in recent years to combat GHG emissions and global warming problems.
The North American E-Fuel market is anticipated to grow at a CAGR 21.2% during the forecast period. The factor such as well-developed information communication technology (ICT), healthcare sector, and automotive industry, and employs the adoption of larger number of advanced technologies and resources.
The Japan E-Fuel market is anticipated to grow at a CAGR 23.8% during the forecast period. The sale of electric vehicles in Japan has increased significantly during the forecast period. Hydrogen fuel cell based electric vehicles are another type of electric vehicles which use hydrogen as a fuel to generate electricity.
The India E-Fuel market is anticipated to grow at a CAGR 17.8% during the forecast period. Sustainability of resources has been a key topic for discussion across the globe. As the demand to preserve the existing non-renewable resources increase, the demand of use of alternate fuels for propulsion of vehicles across the globe has increased significantly.
Germany E-Fuel market is anticipated to grow at a CAGR 22.4% during the forecast period. Germany is expected to share significantly market share owing to high automobile vehicle sales and surging production of e-fuels such as e-diesel in the country.
The European E-Fuel market is anticipated to grow at a CAGR 22.5% during the forecast period. The growth of the European e-Fuel market is backed by the factors such as high R&D investment in research and significant production of clean e-fuels, such as e-diesel and synthetic ethanol, coupled with government enforcing their usage in vehicles to combat high carbon dioxide emission in the region.
The China E-Fuel market is anticipated to grow at a CAGR 25.3% during the forecast period. China is one of the top three countries in terms of energy consumption. As a result, the need of sustaining the present non-renewable sources of energy is significantly high. Moreover, pollution in China is also on a higher side which further increases the demand of alternative green energy fuels is expected to increase significantly in the coming years.
Canada E-Fuel market is anticipated to grow at a CAGR 22.4% during the forecast period. Canada is one of the rare countries in which the major amount of electricity is produced from renewable resources; therefore, the massive transition from gasoline cars to electric cars for transportation makes sense and offers great potential in reduction of CO2 emission.
The Asia-Pacific E-Fuel market is anticipated to grow at a CAGR 23.9% during the forecast period. The e-fuels market in Asia-Pacific region is dominated by few of key emerging economies such as China, Japan and India. The market in Asia-Pacific region is driven by numerous factors including increase in sales of hydrogen powered electric vehicles in countries such as Japan and China.
China rooftop solar panel market is estimated to grow considerably at a CAGR of around 8.2% during the forecast period. China is one of the leading countries in Asia-Pacific that contributes to the growth of the rooftop solar panel market. Solar PV in China is a growing industry with the presence of numerous companies in the country.
The US rooftop solar panel market is estimated to grow modestly at a CAGR of around 7.1% during the forecast period. The US is one of the key countries in which the emphasis is on the uses of renewable energy. Owing to which the opportunities for the energy created from solar sources are expected to increase in the coming years.
UK rooftop solar panel market is estimated to grow considerably at a CAGR of around 7.8% during the forecast period. UK is one of the key economies in the European region. According to The Solar Trade Association (STA), the installation of solar panels in the country has been tumbling in 2017.
The North American rooftop solar panel market is estimated to grow significantly at a CAGR of around 7.3% during the forecast period. The growth of the regional market is backed by the rise in installations of rooftop solar panels within the regional countries, coupled with supportive government schemes.
Japan rooftop solar panel market is estimated to grow considerably at a CAGR of around 7.3% during the forecast period. Japan is one of the leading countries in Asia-Pacific that contributes to the growth of the rooftop solar panel market. Japan has been considerably contributing to the growth of rooftop solar panel market.
Italy rooftop solar panel market is estimated to grow considerably at a CAGR of around 6.8% during the forecast period. Italy has a significant market share in the overall market. This can be attributed to the fact that the overall installations of solar panels in Italy are significantly high. The country has witnessed a significant growth in the past years.
Germany rooftop solar panel market is estimated to grow considerably at a CAGR of around 6.4% during the forecast period. Germany has a considerable market share in the global rooftop solar panel market, due to increasing environmental issues and a rise in the adoption of solar panel technology for an eco-friendly environment.
The European rooftop solar panel market is estimated to grow modestly, at a CAGR of around 6.6%, during the forecast period. The growth of the European rooftop solar panel market is driven by the increasing investment in solar energy, coupled with a growing focus towards renewable energy sources within the region.
Asia-Pacific Rooftop Solar Panel Market is anticipated to grow at a CAGR of around 8.4% during the forecast period. The growth of the market is attributing to factors including increasing demand for green energy, as green energy is supported by various governments to promote nonhazardous sources of energy and provide electricity facilities to rural and remote areas.
The European solar panel market is estimated to grow at a significant CAGR of 11% during the forecast period. The major factors boosting the market growth include a significant rise in the demand for solar energy and increasing incentives for renewable energy sources in the region. In November 2021, the leaders of Germany's new government coalition, which includes the Greens, the Liberals (FDP), and the Social Democrats (SPD), unveiled their 177-page agenda for the next four years.
The global solar PV backsheet market is expected to grow at a CAGR of 6% over the forecast period. Solar PV backsheet is the most critical part used in the construction of a PV module. The backsheet is intended to protect the inner components of the module from an external force.
The global solar encapsulation market is anticipated to grow at a significant CAGR of 4.9% during the forecast period. PV cells as mounted in PV modules are encapsulated with a polymeric material to protect against weather, corrosive environment, UV radiation, low mechanical stress, and low energy impacts.
Solar photovoltaic glass market is expected to grow at a
considerable rate during the forecast period 2019-2025. Solar PV glass
is a technology that allows converting light into electricity. It is
considered as one of the essential barriers that protect solar PV cells
against external damaging factors, such as dirt, water, and vapor.
The virtual power plant is aimed at relieving the load on grid by distributing the power generated by individual units during periods of peak load. The global virtual power plant market is influenced by the rising demand for energy and increasing adoption of the renewables.
The Indian solar water pump market is predicted to grow considerably at a CAGR of 15.2% during the forecast period. The Indian solar water pump market is expected to grow significantly due to increasing application in the domestic and agriculture sector, increasing government support, and low maintenance. Solar water pumps are easy to install due to which it is becoming popular among the end-user. In India, the solar water pump is mainly used for irrigation and drinking purpose. The solar water pump of capacity 5hp (horsepower) can deliver about 124,000 liters of water per day. In India, a total of 1, 20,000 solar PV water pumping systems have been installed in 2016.
The global rooftop solar panel market is anticipated to grow at a CAGR of nearly 8.2% during the forecast period. Rooftop solar photovoltaic (PV) is considered a secure investment for end-use customers against the fluctuating electricity price.
The global sodium-ion battery market is anticipated to grow at a considerable CAGR of 7.9% during the forecast period. The factor that drives the global sodium-ion battery market is the increasing demand for cleaner energy, with rising greenhouse gas emissions around the globe. For instance, in November 2021, The European Space Agency (ESA) and the European Union's Earth-monitoring program Copernicus are working on a constellation of satellites that will track emissions of man-made greenhouse gases and assist to meet climate goals.
The global solar battery market is anticipated to grow at a CAGR of around 15.5% during the forecast period. The rise in the demand for sustainable energy storage solutions is the key driver for the growth of the market.
The global zinc-based battery market is anticipated to grow at a significant CAGR of 5.8% during the forecast period. A zinc-based battery is a rechargeable battery using zinc as an anode. It powers various applications such as electric vehicles, toys, drones, cameras, flashlights, and so on.
The Asia-Pacific solar panel market is estimated to grow at a significant CAGR of 12% during the forecast period. A variety of factors such as environmental concerns, decreasing price of main raw materials (silver, polysilicon), and demand for energy due to the rise in population are driving the Asia-pacific solar panel market. Moreover, increased carbon emissions due to fossil fuel and the need for unlimited clean energy are the other factors that are contributing to the growth of the Asia-pacific solar panel market.
The global concentrated solar power market is anticipated to grow at a significant CAGR of 9.5% during the forecast period. Concentrated Solar Power Market (CSP Market) is a technology that generates electricity by using mirrors/lenses to capture a large amount of sunlight energy and concentrate on a small area. Increasing electricity demand is a major problem due to the rise in population. To meet the demand for electricity government has taken some initiative toward generating power using renewable energy sources such as Concentrated Solar power.
The global offshore wind energy market is anticipated to grow at a CAGR of around 14.6% during the forecast period. A variety of factors such as growing awareness towards green energy, diversified wind energy application, and so on are significantly contributing to the growth of the offshore wind energy market.
The global power bank market is growing at a considerable CAGR of 11.2% during the forecast period. Availability of low-cost power banks and easy access to purchasing power banks from online portals are some other promoters to the growth of the power bank market.
The global nano battery market is growing at a considerable CAGR of 18.0% during the forecast period. The increasing need and demand for efficient battery systems, rising application of carbon nanotubes in batteries are some of the prime factors affecting and driving the market.
The global NiMH battery market is anticipated to grow at a substantial CAGR of 5.2% during the forecast period. One of the core factors that is fueling the market is its much more eco-friendlier than nickel-Cadmium (Ni-Cd)Batteries. The Ni-Cd batteries contain heavy metal which is hazardous to the environment and is highly toxic to all higher forms of life which is not the case with NiMH batteries. This has pushed the more production of the NiMH batteries in the market as the government, and environmentalists opposed the production of the Ni-Cd batteries to save the environment, and the life of animals near the industry and the workers. For instance, European Union banned the use of Cadmiumin batteries from the region on 31 December 2016.
The global rechargeable battery market is anticipated to grow significantly at a CAGR of 6.5% during the forecast period. The demand for rechargeable batteries is growing in the automotive, consumer appliance, electronic, and other industries.
The Global Aluminium based battery market has been in the nascent stage and expected to grow modestly in future. Aluminium based battery is an improvement on the traditional batteries since they are ultrafast rechargeable batteries and are creating buzz for R&D and commercialization.
The global solar mobile charger market is anticipated to grow at a considerable CAGR of 7.4% during the forecast period. The global solar mobile charger can charge lead acid or Ni-Cd battery banks up to 48 V. Such type of solar charger setups generally uses an intelligent charge controller. A series of solar cells are installed in a stationary location and can be connected to a battery bank to store energy for off-peak usage. They can also be used in addition to mains-supply chargers for energy saving during the daytime. The solar battery chargers are perfect for rural settings without electricity. Solar power is an effective solution for those who vandalize electrical power lines.
The global wind energy market is growing at a CAGR of 8.9% during the forecast period. The major factors that are augmenting the growth of the wind energy market include environmental concerns, unstable crude prices, and the need for alternative energy sources.
The global solar panel market is anticipated to grow at a significant CAGR of 12.2% during the forecast period. Solar energy is one of the cleanest and most reliable energy sources and is proving to be a viable alternative to fossil fuels that currently pollute the environment and contribute to global warming. Solar energy is generated by many different technologies such as solar power, solar thermal, concentrated solar heat (electricity), and concentrated PV.
In Europe, the solar sector is still in a transition phase. In 2015,
around 15% of market growth was witnessed in Europe. In spite of the
transition struggle of the various advanced solar markets in Europe,
total installed capacities rise to 97.1 GW in 2015 from 88.9 GW in 2014.
These facts states that Europe maintained its rank being the largest
solar continent at global level in 2015, however only around 1 GW ahead
of the Asia Pacific region.