Electricity consumption can be considered to be a key indicator of a country’s growth. Electricity can be generated either by conventional or nonconventional sources. The major source of electricity generation in the short term ....see more
The gas turbine services market is projected to grow at a CAGR of 4.1% from 2016 to 2021 to reach a market of USD 18.45 Billion by 2021. The growth is attributed to the up gradation of aging fleet of gas turbines, stringent emission norms for gas turbines and increase in demand of gas turbines owing to the shale gas production boom.
The lighting as a service market is expected to grow from an estimated USD 95.3 Million in 2016 to USD 638.68 Million by 2021, registering a CAGR of 46.3% from 2016 to 2021. The global market is witnessing significant growth on account of the increase in demand for energy efficient lighting systems, and government policies supporting adoption of energy efficient lighting systems over traditional lighting. Increasing convergence of Internet of Things (IoT) with lighting is also expected to drive the demand for the lighting as a service market across the globe.
The global temporary power market is estimated to reach USD 3.86 Billion in 2016, and is projected to grow at a CAGR of 10.6% from 2016 to 2021, to reach USD 6.40 Billion by 2021. Market growth is driven by factors such as the growing demand for power, aging grid infrastructure, and lack of access to electricity, and increasing construction and infrastructural activities across the globe.
The size of the global nuclear decommissioning services market is estimated to be USD 4.84 Billion in 2016, and is projected to grow at a CAGR of 12.1% from 2016 to 2021, to reach USD 8.55 Billion by 2021. Nuclear accidents, such as the Fukushima Daichii nuclear power plant accident in 2011, and rising political pressure for pre-closure of nuclear power plants, especially in the European countries, are expected to drive the nuclear decommissioning services market.
The power rental market earns its revenue by renting generators, load banks, and pumps among others or from selling electricity generated from a temporary power plant. Factors such as increasing global electricity demand, especially in emerging economies such as Asia-Pacific and Africa, lack of power infrastructure, and extensive construction & development work in developing countries are the major reasons for large contracts and agreements taking place in the power rental market.
The global heat recovery steam generator market is projected to grow at a CAGR of 3.7% from 2015 to 2020 to reach USD 888.20 Million by 2020. Increasing global electricity demand, subsequent investments in power plants, increasing efforts to reduce global greenhouse gas emissions, and growing adoption of CCPP & CHP are the factors driving the heat recovery steam generator market.
Factors driving the steam turbines market include increase in electricity consumption and demand from emerging economies, and the consequent capacity expansions carried out by utilities in the region, particularly thermal power capacity. The global steam turbines market size was estimated to be around USD 14.8 Billion in 2014, at USD 19,292 Million by 2020 and is expected to grow at a CAGR of 4.4% during the forecast period. The steam turbines market is segmented on the basis of its type, application, rated capacity, exhaust type, and region.
Frequency converter is used in varied end-use industries depending on the frequency requirement of the equipment connected to the converter. The end-users of frequency converters, considered for study include aerospace & defense, power & energy, oil & gas, traction, process industry, marine/offshore, research & testing laboratories, and grid interconnections among others. Differences in electrical standards of mains electricity supply worldwide, international trading, and an increase in the demand for energy-efficient frequency converters are driving the market. The global frequency converter market is projected to reach USD 23.2 Billion by 2020, from an around USD 15.0 Billion in 2015, at a CAGR of 9.1% from 2015 to 2020.
There is an increasing demand for electricity is the large markets such as China, India, and Brazil, globally. Transfer switch are used for providing back-up power solutions for various critical industries such as healthcare, telecommunication, IT, datacenters, and among others. Factors including fluctuating whether conditions, industry applications, infrastructural developments, need for uninterrupted and reliable power are expected to drive the global transfer switch market. The market is expected to reach $1,470.9 Million by 2020, at a CAGR of 6.6% from 2015 to 2020.
Generator circuit-breakers are connected between a generator and the step-up voltage transformer. They are generally used at the outlet of high power generators (100MVA to 1800MVA) in order to protect them in a reliable, fast, and cost-effective manner. These circuit breakers allow the passage of high permanent currents under continuous service (6.3kA to 40kA), and have a high breaking capacity (63kA to 275kA). They belong to the medium voltage range. The drivers of the generator circuit breakers market are entirely influenced by the power transmission and generation industry. Growth in the related as well as complementary markets, such as switchgear and transformer, also contribute towards the growth of generator circuit breakers. The generator circuit breakers market size is estimated to reach $302.30 Million by 2019 from $267.58 Million in 2014.
The Middle East and Africa power rental market size is estimated to reach $9,048.25 million by 2019 from $3,942.07 million in 2014. The major factors responsible for driving the growth of this market include the increasing demand of power in the respective regions. The Middle East market remains the largest market for power rental. Widespread construction and developmental activities are driving growth of the power rental market. The permanent power producers’ inability to meet the power demand especially during extremely hot weather conditions, are considered as opportunities for the Middle East and Africa power rental market. Rising imports of low cost Chinese generators and upcoming power generation projects through renewable sources such as solar, wind and biomass energy in the Middle East and Africa can limit the growth of power rental market in the region.