Energy & Natural Resources

Heat Pump Market to Reach USD 191.0 Billion by 2032, driven by the growth in investment in infrastructure across the globe: Global Insight Services

New York, March 2023: According to a new research study by Global Insight Services (GIS), the global Heat Pump market is expected to grow rapidly over the next 10 years to reach a value of more than USD 191.0 billion by 2032.

A heat pump is a mechanical-compression cycle device that uses refrigerant as a working fluid to transfer heat from a low-temperature heat source to a high-temperature heat sink. By reversing the direction of the refrigerant flow, the heat pump can also be used to transfer heat from a high-temperature heat source to a low-temperature heat sink.

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Heat Pump Market: Key Trends and Drivers

The key drivers of the heat pump market can be divided into two main categories: technological advancements and increasing awareness.

Technological advancements have led to more efficient and effective heat pumps, which has made them more popular and affordable. This has been driven by advances in compressor technology, improved heat exchangers and better control systems. In addition, the miniaturization of heat pump components has made them more compact and easier to install.

Increasing awareness of the benefits of heat pumps has also driven market growth. Heat pumps can offer significant cost savings compared to traditional heating and cooling systems, and they are more environmentally friendly. This has made them attractive to a growing number of consumers and businesses.

Heat Pump Market: Restraints and Challenges

The key restraints and challenges in Heat Pump market are:

1. High initial investment cost: Heat pumps require a high initial investment as compared to other heating systems. This high cost can be a barrier for many consumers, especially in developing countries.

2. Limited efficiency: The efficiency of heat pumps is limited by the laws of thermodynamics. This means that heat pumps are not able to generate as much heat as other heating systems such as furnaces.

3. Susceptible to weather conditions: Heat pumps are susceptible to weather conditions such as cold winters and hot summers. This can impact the performance of the heat pump and lead to higher energy bills.

4. Requires regular maintenance: Heat pumps require regular maintenance in order to keep them running smoothly. This can be an additional cost for consumers.

Heat Pump Market Report Findings

https://www.globalinsightservices.com/reports/heat-pump-market/

The air-to-air segment is anticipated to dominate the market during the forecast period

Based on type, it is segmented into air-to-air, water source, geothermal, and others. The air-to-air segment is anticipated to dominate the market during the forecast period. Similarly, water source segment is anticipated to witness the fastest growth during the forecast period.

The HFC segment is anticipated to dominate the market during the forecast period

Based on refrigerants, it is segmented into HFC, CO2, ammonia, and others. The HFC segment is anticipated to dominate the market during the forecast period. Similarly, the CO2 segment is anticipated to witness the fastest growth during the forecast period.

The residential segment is anticipated to dominate the market during the forecast period

Based on end users, it is segmented into residential, commercial, and industrial. The residential segment is anticipated to dominate the market during the forecast period. Similarly, the commercial segment is anticipated to witness the fastest growth during the forecast period.

The North American region is anticipated to dominate the market during the forecast period

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Similarly, the Asia Pacific region is anticipated to witness the fastest growth during the forecast period.

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Competitive Landscape

The key players studied in the report are Stiebel Eltron, Vaillant Group, NIBE Industrier AB, Daikin Industries, Ltd., Glen Dimplex Group, Ingersoll Rand, Plc., Danfoss A/S, Carrier, Rheem, and Midea Group among others.

Heat Pump Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global Heat Pump market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future Heat Pump market potential from 2022 to 2032 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Heat Pump market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Heat Pump industry.

Global Heat Pump Market Segmentation

By Type

• Air-to-Air
• Water Source
• Geothermal
• Others

By Refrigerants

• HFC
• CO2
• Ammonia
• Others

By End Users

• Residential
• Commercial
• Industrial

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• The Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World
  • Latin America
  • The Middle East
  • Africa

Key Players

• Stiebel Eltron,
• Vaillant Group,
• NIBE Industrier AB,
• Daikin Industries, Ltd.,
• Glen Dimplex Group,
• Ingersoll Rand, Plc.,
• Danfoss A/S,
• Carrier,
• Rheem
• Midea Group

Solar Photovoltaic Panel Market to Reach USD 880.2 Billion by 2032, driven by the growth in investment in infrastructure across the globe: Global Insight Services

New York, February 2023: According to a new research study by Global Insight Services (GIS), the global Solar Photovoltaic Panel market is expected to grow rapidly over the next 10 years to reach a value of more than USD 880.2 billion by 2032.

Solar photovoltaic (PV) panels are a type of solar panel that converts sunlight into electricity. PV panels are made up of a number of solar cells, which are connected together to form a panel. Solar cells are made of semiconductor materials, such as silicon, that absorb sunlight and convert it into electricity.

PV panels are used in a variety of applications, including solar power plants, residential solar systems, and portable solar devices. Solar PV panels have a number of advantages over other types of energy generation, such as fossil fuels. Solar PV panels are clean, renewable, and efficient. They do not produce greenhouse gases or other pollutants, and they require no water for operation. Solar PV panels are also relatively easy and inexpensive to install and maintain.

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Solar Photovoltaic Panel Market: Key Trends and Drivers

The key drivers of the Solar Photovoltaic Panels market are the declining cost of solar photovoltaic (PV) technology, the increasing availability of financing, and the supportive policy environment.

The cost of solar PV technology has declined sharply in recent years, making it more economically attractive. The cost of solar PV panels has declined by more than 70% since 2010, making them increasingly competitive with other forms of energy generation.

The availability of financing has also increased, making it easier for companies and households to invest in solar PV. A number of banks and other financial institutions now offer solar PV financing products, and the market for solar PV project financing is growing.

The policy environment is also supportive of solar PV. A number of countries have introduced policies and incentives to promote solar PV, including feed-in tariffs, net metering, and renewable energy targets. These policies have helped to drive the growth of the solar PV market.

Solar Photovoltaic Panel Market: Restraints and Challenges

The key restraints and challenges in Solar Photovoltaic Panels market are the high cost of solar photovoltaic panels and the lack of awareness about the benefits of solar photovoltaic technology.

Solar photovoltaic panels are still relatively new and expensive compared to other energy sources such as coal and natural gas.

This high cost is a major barrier to the widespread adoption of solar photovoltaic technology.

In addition, many people are still unaware of the benefits of solar photovoltaic technology. Solar photovoltaic technology offers a clean and renewable source of energy that can help to reduce greenhouse gas emissions and dependence on fossil fuels.

Solar Photovoltaic Panel Market Report Findings

https://www.globalinsightservices.com/reports/solar-photovoltaic-panels-market/

The on-grid segment is anticipated to dominate the market during the forecast period

Based on type, it is segmented into on-grid, and off-grid. The on-grid segment is anticipated to dominate the market during the forecast period. Similarly, the off-grid segment is anticipated to witness the fastest growth during the forecast period.

The crystalline silicon segment is anticipated to dominate the market during the forecast period

Based on technology, it is segmented into crystalline silicon, thin film, and others. The crystalline silicon segment is anticipated to dominate the market during the forecast period. Similarly, the thin film segment is anticipated to witness the fastest growth during the forecast period.

The residential segment is anticipated to dominate the market during the forecast period

Based on end user, it is segmented into residential, commercial, industrial, and utility. The residential segment is anticipated to dominate the market during the forecast period. Similarly, the commercial segment is anticipated to witness the fastest growth during the forecast period.

The North American region is anticipated to dominate the market during the forecast period

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Similarly, the Asia Pacific region is anticipated to witness the fastest growth during the forecast period.

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Competitive Landscape

The key players studied in the market are Jinko Solar, JA Solar, Trina Solar, Longi Solar, Canadian Solar, SunPower Corporation, First Solar, Hanwha Q-Cells, Risen Energy, Talesun, and others.

Solar Photovoltaic Panel Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global Solar Photovoltaic Panel market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future Solar Photovoltaic Panel market potential from 2022 to 2032 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Solar Photovoltaic Panel market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Solar Photovoltaic Panel industry.

Global Solar Photovoltaic Panel Market Segmentation

By Type

• On-Grid
• Off-Grid

By Technology

• Crystalline Silicon
• Thin Film
• Others

By End User

• Residential
• Commercial
• Industrial
• Utility

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• The Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World
  • Latin America
  • The Middle East
  • Africa

Key Players

• Jinko Solar, 
• JA Solar, 
• Trina Solar, 
• Longi Solar, 
• Canadian Solar, 
• SunPower Corporation, 
• First Solar, 
• Hanwha Q-Cells, 
• Risen Energy, 
• Talesun,

Internal Combustion Engine Market to Reach US$ 54.2 Bn by 2032, driven by rise in demand for passenger and commercial vehicles in developed and emerging countries: Global Insight Services

New York, January 2023: According to a new research study by Global Insight Services (GIS), the global Internal Combustion Engine Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 54.2 Billion by 2032.

Internal Combustion Engine is the practice of traveling to and staying in space for leisure purposes. The term generally refers to space travel for private individuals, rather than professional astronauts or trained cosmonauts. Internal Combustion Engine is a relatively new concept, and it is still in the early stages of development. There are a limited number of companies offering Internal Combustion Engine services, and the industry is still working to develop the infrastructure and technology needed to make space travel more accessible and safe for the general public.

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Internal Combustion Engine Market: Key Trends and Drivers

Technological advancements bring evolution to the internal combustion engine, allowing them to provide more power while using less fuel. Meanwhile, engines will continue to play an essential role in the automotive industry’s evolution. Also, they have the potential to improve in areas like thermal efficiency, emissions, and electrification. The introduction of the new concept of Low-temperature combustion (LTC) is a cutting-edge combustion idea for internal combustion engines that has recently gotten a lot of attention. LTC technology has significant advantages in decreasing nitrogen oxides (NOx) and particulate matter (PM) and reducing specific fuel usage. However, controlling ignition time and heat release rate (HRR) are major obstacles to overcome before LTC technology can be widely adopted in vehicle engines. Internal combustion engines are no longer the only choice for vehicle power trains due to the development of alternative energy and hybrid vehicle technologies. Also, the rising adoption rate of EVs (electric vehicles) and the increasing shortage of fossil fuel reserves resulting in higher petroleum product costs are among the major factors restraining market growth.

Internal Combustion Engine Market: Restraints & Challenges

The key restraints and challenges in Internal Combustion Engine Market are as follows: strict regulatory presence in the market for ICE due to their environmental impact attacks, and rising adoption rate of EV (electronic vehicles) are expected to obstruct market growth. Also, increasing lack of fossil fuel reserves resulting in higher costs of petroleum products are projected to challenge the internal combustion engine (ICE) market in the forecast period.

Internal Combustion Engine Market Report Findings: https://www.globalinsightservices.com/reports/small-internal-combustion-engine-ice-market/

The petroleum segment is likely to hold a dominant Internal Combustion Engine Market share and grow at a substantial CAGR during the forecast period.

Based on fuel type, the ICE market is segmented into petroleum and natural gas. The petroleum segment dominates the market with the highest market share in 2022, due to the advantages offered by the petroleum internal combustion engine, such as less vibration and noise. Moreover, technological advancement in the automotive industry is expected to increase revenue flow for the segment. This growth can be attributed to the benefits offered by gasoline engines, such as they are efficient, cheaper, lightweight, and reducing emissions. Although abundant availability and cost advantages, the natural gas segment has a lower market share. In comparison to petroleum, the fuel type will take years to gain broad adoption because diesel and gasoline are used in the majority of cars. Meanwhile, natural gas is expected to rise steadily in the foreseeable future as the gas is the cleanest burning-hydrocarbons that produce less emission, helping in reducing carbon emission. Additionally, LNG is used as an alternative to diesel and heavy fuel oil in transport due to its low carbon emission levels.

The automotive segment is anticipated to hold a majority of the Internal Combustion Engine Market size throughout the study period.

Based on end-use type, the ICE market is segmented into automotive, marine, and aircraft. The automotive segment held the highest market share in 2022. This expansion is linked to rising consumer disposable income, which has resulted in increased car usage throughout the world. The automotive manufacturers are focused on developing efficient internal combustion engines which provide high returns on the manufacturing investments. Furthermore, technological advancements that increase IC engine fuel economy, emissions, and performance are expected to propel the market’s growth during the forecast period.

The aircraft segment is expected to witness a moderate CAGR throughout the forecast period. This segment is primarily driven by the commercial aviation industry’s favorable market dynamics. The application of ICE in aircraft used for tourism, logistics, and defense requires high-performing ICE, which has higher torque. This internal combustion engine application in various industries is expected to encourage market growth. Furthermore, technical developments like multi-fuel capability, which increases fuel mileage, will boost demand for the segment.

The Asia – Pacific region is estimated to exhibit the highest growth rate during the Internal Combustion Engine Market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. In 2022, Asia- Pacific market is anticipated to account for a significant revenue share in the global internal combustion engine market. The presence of several automotive manufacturers, as well as increased demand for the passenger automobiles in some of the region’s major countries, such as India and China, are the primary factors driving growth of the market. Furthermore, the lack of electric vehicle charging infrastructure and the expensive cost of electric motors support market growth. The use of natural gas in ICE due to low emission is also aimed at making ICE an alternative to EV. The aviation industry in the Asia Pacific is also booming, giving the aviation engines segment opportunities to expand during the forecast period.

Have a question for our analyst: https://www.globalinsightservices.com/inquiry-before-buying/GIS24289/

Competitive Landscape

The key players in the market are Caterpillar Inc., Kawasaki Heavy Industries, Ltd, MITSUBISHI HEAVY INDUSTRIES, LTD, Liebherr, YANMAR HOLDINGS CO., LTD, Cummins, Inc., Fairbanks Morse, INNIO, Wärtsilä Corporation and Rolls-Royce Holdings plc.

Recent Developments in the Internal Combustion Engine Market:

• In October 2022, HPCL entered into Bhopal Retail Market with Launch of its 1st HaPpyShop & PAANI@CLUBHP
• In July 2021, the Ministry of Petroleum and Natural Gas has granted seven authorisations to companies for selling auto fuels in the country.

Internal Combustion Engine Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global Internal Combustion Engine Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future Internal Combustion Engine Market potential from 2021 to 2031 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Internal Combustion Engine Market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.

Global Internal Combustion Engine Market Segmentation

By Fuel

• Petroleum
• Natural Gas

By End-use

• Automotive
• Marine
• Aircraft

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of World
  • Latin America
  • Middle East
  • Africa

Bolt Heaters Market to Reach USD 298.2 million by 2032, driven by the growth in investment in infrastructure across the globe: Global Insight Services

New York, January 2023: According to a new research study by Global Insight Services (GIS), the global Bolt Heaters market is expected to grow rapidly over the next 10 years to reach a value of more than USD 298.2 million by 2032.

When a high concentration of heat is necessary for bolt expansion, massive hollow bolts are tightened with the aid of bolt heaters. It is put into the hollow bolt and heated to cause it to expand, allowing the bolt or stud to be tightened even more. It is typically used to tighten big bolts and studs in massive machinery and apparatus. Large bolts can be heated by the bolt heaters to full expansion in 15 to 30 minutes. Additionally, bolt heaters are frequently utilised in pressure tanks, cylinders, die blocks, turbines, engine heads, and big compressors.

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Bolt Heaters Market: Key Trends and Drivers

The market is expanding as a result of the accelerated urbanisation and industrialization of emerging nations, as well as the rising use of heavy construction equipment. The need for bolt heaters is being driven up by the usage of these devices in the installation and maintenance of various pieces of industrial equipment in places like shipyards, thermal power plants, and metallurgy. Additionally, since equipment tends to wear down over time as it is utilised, rising production and equipment utilisation create a demand for maintenance and repair (M&R) services. Therefore, during the course of the projected period, these market drivers are anticipated to fuel market expansion.

Bolt Heaters Market: Restraints and Challenges

The key factor hindering the growth of the market is decline in manufacturing output and post-ponding of construction projects due to covid.

Bolt Heaters Market Report Findings

https://www.globalinsightservices.com/reports/bolt-heaters-market/

The gas bolt heaters segment is anticipated to dominate the market during the forecast period

Based on the type, it is segmented into gas bolt heaters, electric bolt heaters, and flexible bolt heaters. The gas bolt heaters segment is anticipated to dominate the market during the forecast period. Similarly, flexible bolt heaters segment is anticipated to witness the fastest growth during the forecast period.

The oil & gas segment is anticipated to dominate the market during the forecast period

Based on the end use, it is segmented into oil & gas, marine, power generation, food & plastic packaging, and others. The oil & gas segment is anticipated to dominate the market during the forecast period. Similarly, food & plastic segment is anticipated to witness the fastest growth during the forecast period.

The North American region is anticipated to dominate the market during the forecast period

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Similarly, the Europe region is anticipated to witness the fastest growth during the forecast period.

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Competitive Landscape

The key players studied in the report are Indeeco, Hotco, Vulcan, Ivaldi, Big Chief, ProTherm, CETAL, HEATCO, ASPEQ, and Thermon Heating Systems among others.

Bolt Heaters Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global Bolt Heaters market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future Bolt Heaters market potential from 2022 to 2032 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Bolt Heaters market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Bolt Heaters industry.

Global Bolt Heaters Market Segmentation

By Type

• Gas Bolt Heaters
• Electric Bolt Heaters
• Flexible Bolt Heaters

By End Use

• Oil & Gas
• Marine
• Power Generation
• Food & Plastic Packaging
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• The Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World
  • Latin America
  • The Middle East
  • Africa

Key Players

• Indeeco
• Hotco
• Vulcan
• Ivaldi
• Big Chief
• ProTherm
• CETAL
• HEATCO
• ASPEQ
• Thermon Heating Systems

Global Power-to-Gas Market to Reach US$ 84.4 BN by 2031, driven by Several Benefits of Power-to-Gas Technology: Global Insight Services

New York, August 2022: According to a new research study by Global Insight Services (GIS), the power-to-gas market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 84.4 billion by 2031.

Power-to-gas is a technology that converts electrical energy into methane or hydrogen syngas (synthetic gas). The hydrogen turning out in the power-to-gas industry is then utilized as a chemical in industries or fuel. The power-to-gas systems reserve excessive energy from renewable resources such as wind and solar energy and utilize it for several operations. These systems are stored for transportation, heat supply, and industrial purposes. The work of the power-to-gas industry is a constructive step in combining renewable resources with power generation sources. Further, the converted hydrogen and methane can be converted back into electricity, as they can be used as a backup power source.

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Global Power-to-Gas Market: Key Drivers

The power-to-gas technology offers several benefits over current energy storage technologies, including longer discharge times and higher power storage capacity. Hydrogen can also be injected directly into natural gas grids. However, due to safety and technical concerns, hydrogen injection is subject to regulations and varies from country to country.

Secondly, due to the falling costs of renewable energy technologies, including solar and wind, energy storage technologies such as power-to-gas technology are becoming increasingly attractive. The installed capacity of commercial electrolyzer systems has been increasing steadily over the past few years. There are only a few commercially viable water electrolysis technologies, and the two most widely used technologies are alkaline water electrolysis and proton exchange membrane electrolysis.

Thus, due to several benefits of power-to-gas technology boosts the market growth.

Global Power-to-Gas Market: Market Restraints and Challenges

The energy resulting from power-to-gas technology is of a high value. Synthetic gas can store energy over long periods and transport well. At the same time, synthetic fuels have significant disadvantages. Many energy is lost during electrolysis, methanation, and storage, meaning producing them requires large amounts of renewable energy. After electrolysis, only about 67% to 81% of the energy remains, and after the additional step of methanation, only about 54% to 65% is left, according to the article published by Clean Energy Wire in June 2018. Synthetic fuels are laborious and will always be more costly and less efficient than direct electricity use. In addition, The high cost of power-to-gas technology means it’s not expected to compete with fossil gas without government support and regulation, such as quotas for the share of synthetic gas in the national energy mix or a higher price on CO₂ (carbon dioxide) emissions. Therefore, power-to-gas technology’s low efficiency and energy loss, regardless of all its major benefits, might act as a restraining factor for the power-to-gas market.

Global Power-to-Gas Market Report Findings

https://www.globalinsightservices.com/reports/power-to-gas-market/

The electrolysis segment is likely to hold the major share of the market in 2021

Based on technology, it is bifurcated into electrolysis and methanation. The electrolysis segment is expected to have the largest power-to-gas market share in 2021 due to its dynamic operations and the ability to effectively integrate electricity from fluctuating renewable energy sources such as wind and solar. The increase in awareness among the people regarding greenhouse gases and increasing demand for energy and fossil fuels have driven the growth of the electrolysis process in the power to gas market. Due to multiple benefits, the electrolysis segment is expected to receive the main market attraction resulting in market growth.

The 1000 kW and above segment is likely to dominate the market during the forecast period

Based on capacity, it is segmented into less than 100 kW, 100–999 kW, and 1000 kW and above. The 1000 kW and above segment is expected to dominate the market during the forecast period because of the growing commercialization and implementation of several MW-size projects of power to gas technologies and demand from utilities and industrial applications. Above 1000KW capacity of power to gas, technology is used in large-scale utilities or industries, which are heavy electricity consumers. The need for power for manufacturing in various chemical and automotive industries has led to the search for an efficient alternative to providing a clean energy source for sustainability. Due to the abovementioned factors, the 1000 kW and above segment are expected to dominate the market during the forecast period.

The utility segment is likely to hold the major share of the market in 2021

Based on application, it is segmented into residential, commercial, and utility. The utility is expected to be the largest segment in the power-to-gas market in 2021. The utility segment is growing as power and gas utilities are looking to effectively produce hydrogen by integrating intermittent renewable power sources and have the flexibility of power system operations. Thus, the utility segment will likely hold a major market share in 2021.

The Europe region is accounted for the majority of market share in 2021

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Europe market is expected to hold the majority of the market share in 2021. This is because power-to-gas technology is expected to significantly stabilize the region’s energy supply and offset fluctuating power generation from renewable energy sources. A country such as Germany has seen a rising demand for power-to-gas technology, with the growing need for hydrogen from chemical, industrial and fuel cell transportation demand in the country. This, in turn, boosts the demand for power-to-gas in the Europe region.

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Competitive Landscape

The key players studied in the global power-to-gas market are Electrochaea GmbH (Germany), ENTSOG (Belgium), EXYTRON GmbH (Germany), ITM Power PLC (UK), MAN Energy Solutions (Germany), McPhy Energy S.A. (France), Nel ASA (Norway), Siemens AG (Germany), thyssenkrupp AG (Germany), and Uniper SE (Germany).

Global Power-to-Gas Market: Recent Developments

• January 2022, Energie 360°has partnered with Electrochaea GmbH to step up the development of the power-to-gas technology concept. Power-to-gas is a versatile technology that makes it possible to store surplus power from wind and solar parks in the natural gas network. This innovative technology makes an important contribution to solving the energy storage problem. The partnership will solidify Energie 360°’s position as a leading partner in environmentally sustainable energy solutions.
• December 2021, Air Products had awarded thyssenkrupp a contract to supply a more than two-gigawatt electrolysis plant for the green hydrogen projects at NEOM in Saudi Arabia. Under this contract, thyssenkrupp will engineer, procure and fabricate the plant based on their large-scale 20-megawatt alkaline water electrolysis module. Upon commissioning, the project partners, NEOM, ACWA Power, and Air Products (NEOM Green Hydrogen Company), will operate the facility to produce hydrogen to be synthesized into carbon-free ammonia for export exclusively by Air Products to global markets.
• June 2021, Baker Hughes had invested in Electrochaea. Through its investment, Baker Hughes enhanced its broader carbon capture and utilization portfolio and provided an integrated solution for customers across the carbon dioxide (CO₂) value chain to enable the production of low carbon synthetic natural gas from captured CO₂ and green hydrogen, helping meet the demand for cleaner fuels to advance the energy transition.

Global Power-to-Gas Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global power-to-gas market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future global power-to-gas market potential from 2021 to 2031 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global power-to-gas market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global power-to-gas industry.

Global Power-to-Gas Market Segmentation

By Technology

• Electrolysis
• Methanation

By Capacity

• Less than 100 kW
• 100–999 kW
• 1000 kW and Above

By Application

• Residential
• Commercial
• Utility

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World
  • Latin America
  • Middle East
  • Africa

Key Players

• Electrochaea GmbH (Germany)
• ENTSOG (Belgium)
• EXYTRON GmbH (Germany)
• ITM Power PLC (UK)
• MAN Energy Solutions (Germany)
• McPhy Energy S.A. (France)
• Nel ASA (Norway)
• Siemens AG (Germany)
• thyssenkrupp AG (Germany)
• Uniper SE (Germany)

Global Dolomite Mining Market to Reach US$ 2.7 BN by 2031, driven by the Surge in the Construction Industry: Global Insight Services

New York, August 2022: According to a new research study by Global Insight Services (GIS), the dolomite mining market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 2.7 billion by 2031.

Dolomite is an anhydrous and transparent carbonate mineral rich in magnesium and calcium. It also includes some levels of iron. Also, dolomite rock (also known as dolostone) is crushed and sized before it is used as an aggregate for the construction and maintenance of roads. Dolomite mining is a non-metallic mineral used to create ceramics, glass, composites, and refractory materials. It is also utilized in environment preservation, chemical manufacturing, and energy conservation. The dolomite mineral finds its application in mining, manufacturing, and refining.

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Global Dolomite Mining Market: Key Drivers

A surge in the construction industry is acting as one of the major factors significantly influencing the application of dolomite in producing cement, paints, steel, varnishes, and flooring tiles. It is also used to suppress coal mining dust and manufacture pipes, rubbers, boiler coverings, papers, potteries, leathers, and high-magnesium limes. Moreover, the growing consumption of agricultural products and increasing concerns about food security promote dolomite application as a soil conditioner to neutralize acidity. Due to the rising environmental concerns, several governments are introducing stringent regulations that mandate water recycling in the industrial sector, which, in turn, is contributing to market growth. As dolomite is also used to optimize the pH of distilled water, filtrate potable water, reverse osmosis water, and add natural minerals to the purified, dolomite mining is anticipated to rise in the coming years.

Global Dolomite Mining Market: Market Restraints and Challenges

Dolomite mining has also created numerous environmental problems such as destruction of landscape, damage to natural drainage, pollution, and destruction of natural habitats. These mining activities have disturbed the natural habitat of many species. Further, dolomite is possibly unsafe for most adults when taken by mouth. Some dolomite products might contaminate heavy metals such as aluminum, arsenic, lead, mercury, and nickel. Because of this concern, choosing a safer calcium or magnesium supplement might be wise. Also, dolomite might cause stomach irritation, constipation, nausea, vomiting, and diarrhea. Hence, these dolomite adverse effects might act as a restraining factor for the dolomite mining market.

Global Dolomite Mining Market Report Findings

https://www.globalinsightservices.com/reports/dolomite-mining-market/

The calcined dolomite segment is likely to hold the major share of the market in 2021

Based on mineral type, it is bifurcated into calcined dolomite and sintered dolomite. The calcined dolomite segment is expected to be the largest segment in the dolomite mining market in 2021 is due to increased demand for calcined dolomite from construction industry. Calcined Dolomite is used in the iron and steel industry, specifically in refractory lining protectors, in agriculture as a soil conditioner and in the environmental sector in water treatment. Due to these factors mentioned above, the calcined dolomite segment is expected to hold a major market share in 2021.

The construction segment is likely to hold the major share of the market in 2021

Based on application, it is segmented into construction, agriculture, animal feed, ceramics and glass, iron and steel, and others. The construction segment is expected to be the largest segment in the dolomite mining market in 2021. This is due to increased demand for construction products such as cement and putty. Further, dolomite is used as a filler in concrete and asphalt mix in the form of crushed stone in construction aggregate to construct roads, parking lots, highways, sidewalks, pavements, residential streets, and airport runways. Thus, the construction segment will likely hold a major market share in 2021.

The North America region is accounted for the majority of market share in 2021

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to hold the majority of the market share in 2021 due to increasing road construction activities in the region. Rapid industrialization in the region has caused an upsurge in investments in transport infrastructure, which is likely to spur market growth. This, in turn, boosts the demand for dolomite mining in the Asia Pacific region.

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Competitive Landscape

The key players studied in the global dolomite mining market are Arihant Min Chem (India), Calcinor (Spain), E. Dillon & Company (US), Essel Mining & Industries Limited (India), Imerys S.A. (France), JFE MINERAL & Alloy Co., LTD (Japan), Lhoist Group (Belgium), Nittetsu Mining Co.,Ltd. (Japan), Nordkalk Corporation (Finland), and Omya AG (Switzerland).

Global Dolomite Mining Market: Recent Developments

• September 2021, Integrated steel player Jindal Steel and Power Limited (JSPL) mentioned it had bagged Kasia iron ore block in Odisha. The mine with 278 million tonne (MT) reserves is strategically located about 17 kilometers from the company’s pellet plant in Barbil in the state. The e-auction for Kasia iron and dolomite mineral block was earlier owned and operated by Essel Mining and Industries.
• November 2020, Lhoist North America proceeded with a new distribution facility for dolomitic quicklime to service the steel industry. The new terminal is in Memphis, Tennessee. The new facility has a primary supply from the new kiln in Marble Falls, TX. Still, it is serviced by three major railroads allowing shipments from multiple dolomitic production sites across the Southern US.

Global Dolomite Mining Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global dolomite mining market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future global dolomite mining market potential from 2021 to 2031 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global dolomite mining market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global dolomite mining industry.

Global Dolomite Mining Market Segmentation

By Mineral Type

• Calcined Dolomite
• Sintered Dolomite

By Application

• Construction
• Agriculture
• Animal Feed
• Ceramics and Glass
• Iron and Steel
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World
  • Latin America
  • Middle East
  • Africa

Key Players

• Arihant Min Chem (India)
• Calcinor (Spain)
• E. Dillon & Company (US)
• Essel Mining & Industries Limited (India)
• Imerys S.A. (France)
• JFE MINERAL & Alloy Co., LTD (Japan)
• Lhoist Group (Belgium)
• Nittetsu Mining Co.,Ltd. (Japan)
• Nordkalk Corporation (Finland)
• Omya AG (Switzerland)

Global Data Center Substation Market to Reach US$ 15.6 BN by 2031, driven by Increasing Need of Data Centers Globally: Global Insight Services

New York, August 2022: According to a new research study by Global Insight Services (GIS), the data center substation market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 15.6 billion by 2031.

A data center substation is a structure in the power network where transmission routes and distribution feeders are connected through circuit breakers/switches by busbars. This helps control the power flow across the network and general switching procedures for maintenance purposes. These enclosed zones mainly step up or down the voltage in transmission lines to a particular level suitable for the distribution system. Further, with the surge in the volume of structured and unstructured data, along with the increasing demand for cloud computing, is subsequently driving the demand for efficient and reliable substations.

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Global Data Center Substation Market: Key Drivers

Data centers have become an essential component of the modern economy, from the servers operating in SMEs to the organization data centers supporting large businesses and the plantations running cloud computing services hosted by several technology giants, including Google, Amazon, Netflix, and Facebook. Moreover, different end users have emerged to distinguish themselves with varying data center requirements in this digital economy, which is challenged continually with staying ahead of customers’ IT roadmaps. Therefore, the requirement for data storage is also surging due to the rising demand for big data analytics and cloud-based services, including online content comprising movies, apps, videos, and social media. Thus, the growing need of data centers boosts the requirement for data center substations to get sufficient power supplies, which drives the demand for the data center substations.

Global Data Center Substation Market: Market Restraints and Challenges

On one side, the increasing demand for data center substations for technology giants is helping them in several ways. However, there are several disadvantages to owning own substation, which might create several challenges for substation owners. Firstly, when any user owns the substation, the user needs to operate and maintain it. Secondly, the user may need to install a remote operating system, combining it with their data center, to monitor and control their own substation. While it adds an additional system to their center, it also adds power assurance. Thirdly, if their substation goes down, the user and their maintenance subcontractor are responsible for running the data center again, so users need to establish monitoring and emergency procedures surrounding the substation and the data center itself. Thus, there are several disadvantages to owning own substation, which might create several challenges for substation owners.

Global Data Center Substation Market Report Findings

https://www.globalinsightservices.com/reports/data-center-substation-market/

The switchgears segment is likely to hold the major share of the market in 2021

Based on component, it is segmented into transformers, switchgears, relays, and others. The switchgears segment is expected to be the largest segment in the data center substation market in 2021. Switchgear is an essential substation component and is essentially used to withstand fluctuating operating voltage in extremely volatile environmental situations. Developing new industrial and commercial facilities, including data centers for safe and reliable operations, is also estimated to drive the segment growth. Due to these factors mentioned above, the switchgears segment is expected to hold a major market share in 2021.

The above 500KV segment is likely to hold the major share of the market in 2021

Based on voltage type, it is segmented into 33KV-110KV, 111KV-220KV, 221KV-500KV, and above 500KV. The above 500KV segment is expected to be the largest segment in the data center substation market in 2021. Demand for high voltage substations played a major role in the market growth. Substations with high voltage (above 500KV) are designed to handle the high-power demands of mission-critical facilities such as data centers to provide reliable and quality power supply to server buildings. Substations with high voltage rating play a vital role in providing optimal power transmission and distribution for mission-critical facilities, such as data centers. Thus, the above 500KV segment will likely hold a major market share in 2021.

The North America region is accounted for the majority of market share in 2021

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to hold the majority of the market share in 2021. The growth is mainly due to the region’s continuous growth in data center construction activities. Moreover, North America boosts the largest cloud computing market, creating a lucrative opportunity for data centers. This, in turn, offers avenues for energy transmission and distribution solutions such as data center substations. Further, data center colocation providers in North America are focused on making significant investments in constructing additional data center facilities. This, in turn, boosts the demand for data center substations in the North American region.

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Competitive Landscape

The key players studied in the global data center substation market are Acciona, S.A. (Spain), Eaton Corporation plc (Ireland), Hitachi Energy Ltd (Switzerland), Hyosung Heavy Industries (South Korea), NEI Electric Power Engineering, Inc. (US), S&C Electric Company (US), Schneider Electric (France), Siemens Energy (Germany), TE Connectivity Corporation (US), and Tesco Automation Inc. (US).

Global Data Center Substation Market: Recent Developments

• January 2022, Hitachi Energy delivered a state-of-the-art 150-kilovolt digital substation, helping Indonesian utility PT Perusahaan Listrik Negara (PLN Persero) ensure reliable power and better support economic development in East Java, as well as contribute to broader long-term sustainability goals.
• October 2021, Schneider Electric announced that it expanded its micro data center solutions portfolio by introducing the easy micro data center series for standard IT and commercial environments.
• March 2021, Eaton had launched an industry-first data center solution, EnergyAware UPS using UPS-as-a-reserve (UPSaaR) in India. The solution will enable data centers to contribute to renewable energy and also earn from their UPS investments.

Global Data Center Substation Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global data center substation market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
• A thorough analysis of market trends and restraints is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future global data center substation market potential from 2021 to 2031 in terms of revenue.
• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global data center substation market are also analyzed.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global data center substation industry.

Global Data Center Substation Market Segmentation

By Component

• Transformers
• Switchgears
• Relays
• Others

By Voltage Type

• 33KV-110KV
• 111KV-220KV
• 221KV-500KV
• Above 500KV

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World
  • Latin America
  • Middle East
  • Africa

Key Players

• Acciona, S.A. (Spain)
• Eaton Corporation plc (Ireland)
• Hitachi Energy Ltd (Switzerland)
• Hyosung Heavy Industries (South Korea)
• NEI Electric Power Engineering, Inc. (US)
• S&C Electric Company (US)
• Schneider Electric (France)
• Siemens Energy (Germany)
• TE Connectivity Corporation (US)
• Tesco Automation Inc. (US)

New York, July 2022: According to a new research study by Global Insight Services (GIS), the smart mining market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 29.5 billion by 2031.

Smart mining is a process that uses autonomy, information, and technology to obtain reduce operational costs, improve safety, and gain better productivity for a mine site. Mining corporations emphasize enhancing productivity by providing state-of-the-art software & solutions. It also comprises remote-controlled robotic equipment for mineral & metal extraction, known as telerobotic mining, and decreases the danger for miners. Further, smart mining equipment is applied in underground and surface mining, also known as open pit or open cast mining operations. However, the integration of smart mining in underground mining has improved the working conditions on-site and increased the productivity of underground mines.

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Global Smart Mining Market: Key Drivers

Rapid advancement in technology will continue to influence mining operations. In the mining industry, internet-of-things (IoT) is increasingly being adopted in mining equipment and vehicles. Furthermore, IoT in scheduling and predicting maintenance and repair tasks is expected to play a key role in its widespread adoption across the mining industry. Moreover, to reduce downtime and increase operational efficiency, miners also use advanced predictive maintenance tools. Secondly, simulation technology is gaining popularity among miners due to its proven benefits in responding to emergencies. The simulation technology is poised to witness widespread adoption in the long run. Thus, robust adoption of IoT and the gaining popularity of simulation technology are anticipated to aid the growth of the smart mining market in the forecast period.

Report Findings

The surface mining segment is likely to dominate the market during the forecast period

Based on type, the surface mining segment market is growing at a faster rate because Surface mines offer several advantages it is cheaper, can recover more of the resource (usually up to 100% within the mining excavation), is safer, and can use larger-scale mining equipment offering higher production rates. Thus, several advantages of the surface mining segment boost the market’s growth.

The automated equipment segment is likely to hold the major share of the market

On the basis of category, the automated equipment segment is expected to have the highest smart mining market share in 2021. The automated equipment segment generated high revenues in 2021, due to high adoption of autonomous mining equipment and recognition of advantages offered by the implementation of these equipment. For instance, automated equipment in smart mining allows workers to do their jobs remotely, away from the dangers of unstable areas within the mine.

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Competitive Landscape

The key players studied in the global smart mining market are ABB Ltd (Switzerland), Caterpillar Inc. (US), Cisco Systems, Inc. (US), Hexagon AB (Sweden), Hitachi, Ltd. (Japan), Komatsu (Japan), Robert Bosch GmbH (Germany), Rockwell Automation, Inc. (US), Sandvik AB (Sweden), and Trimble, Inc. (US).

Global Smart Mining Market Segmentation

By Type

• Underground Mining
• Surface Mining

By Category

• Automated Equipment
  • • Excavator
    • Robotic Truck
    • Driller & Breaker
    • Load Haul Dump
    • Other Automated Equipment
• Component
• Hardware
• Software
• Services

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of World
  • Latin America
  • Middle East
  • Africa

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Global Smart Mining Market: Recent Developments

• September 2021, Hexagon launched the Power of One (a unified technology platform), which connects all parts of the mine together. It connects all sensors and software with an intelligent monitoring system through its platform.
• September 2021, Komatsu exhibited at MINExpo 2021 regarding sustainable and autonomous mining technology. The products offered by the company include WE1850 Gen 3 surface wheel loader with proven switched reluctance (SR) hybrid drive technology, battery hauler for underground mining powered by lithium-ion battery technology, ZR122 surface blast hole drill with automated features, and battery-tram powered ZJ32Bi jumbo drill for underground hard rock mining and underground hard rock drilling & bolting retrofits.
• June 2021, Rockwell Automation signed an agreement to acquire Plex Systems (a cloud-native smart manufacturing platform) for US$ 2.22 billion in cash. Plex Systems provides the only single-instance, multi-tenant software as a service (SaaS) manufacturing platform that operates at scale, including advanced manufacturing execution systems, quality, and supply chain management capabilities. This acquisition enables Rockwell to scale up its cloud offerings for mining and related industries.

New York, July 2022: According to a new research study by Global Insight Services (GIS), the solar inverters market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 18.2 billion by 2031.

Solar inverters are an essential part of the whole solar system. These inverters convert the direct current (DC) electricity to the alternate current (AC), hence determining the efficiency of the whole solar system. Besides the conversion, solar inverters track voltage, allow grid connecting communication, and shut down during emergencies. On-grid solar inverters produce a pure sine wave of AC electricity than off-grid inverters, hence, increased use of on-grid solar inverters ensures the better efficiency and safety of home appliances. Moreover, solar inverters are commonly used in residential & utility applications and nowadays are increasingly used in commercial & industrial projects across the globe.

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Global Solar Inverters Market: Key Drivers

Installation of home rooftop solar panels can be observed in both developed and developing economies. Solar energy has appeared as a promising and extensively accepted renewable energy source. Also, residential solar solutions provide free, uninterrupted electricity for years while contributing to a greener environment.

According to the Solar Energy Industries Association, in June 2022, the US-installed 3.9 gigawatts (GW) of solar photovoltaic (PV) capacity in first quarter (Q1) 2022 to reach above 126 GW of total installed capacity, enough to power 22 million American homes. The solar segment accounted for fifty percent of all new electricity-generating capacity added in the US in Q1. Residential solar had its largest quarter in history with 1.2 GW installed, a 30% increase year-over-year (Y-o-Y). Further, the Indian government has a target of installing nearly 40 GW by 2022 for rooftop solar installations across the country, per the article published by Mercom India in August 2021. Rooftop solar inverters account for around 13% of cumulative solar installation in India. Moreover, companies realize the environmental and financial advantages of using solar inverters, and the COVID-19 pandemic has increased its adoption.

Therefore, with all the factors mentioned above, growing residential solar rooftop installations globally support the solar inverters market growth.

Report Findings

The central segment is likely to dominate the market during the forecast period

The market growth of this segment is increasing at a faster rate because central inverters are highly reliable with timely maintenance and are housed in a protected location for their installation. The central inverters are integrated with large arrays installed on field installations, industrial facilities, and buildings, taking DC power from all the solar panels and converting it into AC power, becoming a single point for power distribution. Thus, numerous benefits of the central segment are boosting the growth of the market.

The on-grid segment is likely to hold the major share of the market

The on-grid segment holds the largest share because of the rise in investment in the direct supply of electricity rather than storing it in batteries. In addition, advantages of being used as on-grid solar inverters include easy feeding of energy, easy installation, cost-efficiency, and managing high electricity demand, boosting the market’s growth.

The utility segment is likely to dominate the market during the forecast period

The rising investment in utility-scale solar power plants, solar parks, and other solar structures is primarily boosting the market’s growth. Moreover, the rise in construction projects such as decentralized solar power plants, rural electrification projects, solar power plants on the water body & rooftops, and commercial buildings drive the growth of the solar inverter market for the utility segment across the globe.

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Competitive Landscape

The key players studied in the global solar inverters market are ABB Ltd (Switzerland), Delta Electronics, Inc. (Taiwan), Enertechups (India), GoodWe Technologies Co., Ltd. (China), Power Electronics S.L. (US), Power-One Micro Systems Pvt. Ltd. (India), Sineng Electric (China), SMA Solar Technology AG (Germany), Solaredge Technologies Inc. (Israel), and Hitachi Hi-Rel Power Electronics Pvt Ltd. (India).

Global Solar Inverters Market Segmentation

By Type

• Central
• String
• Micro

By System Type

• On-Grid
• Off-Grid

By End User

• Residential
• Commercial
• Utility

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Rest of World
  • Latin America
  • Middle East
  • Africa

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Global Solar Inverters Market: Recent Developments

• April 2022, Delta Electronics, Inc. had launched the first bi-directional inverter integrating solar power, power storage, and electric vehicle (EV) charging.
• April 2022, Power Electronics S.L. had exhibited at Intersolar the new generation of the HEMK solar inverters, the most powerful modular solution on the market with 4.4MVA.
• July 2019, ABB Ltd and FIMER S.p.A had announced that they have signed an agreement for FIMER to acquire ABB’s solar inverter business. The transaction will enhance the future prospects of the solar inverter business and will enable ABB Ltd to focus its business portfolio on other growth markets.