Overview of the global solar street lighting market
Market research analysts at Technavio predict that the global solar street lighting market will grow steadily during the next four years and post a CAGR of more than 19% by 2020. This market research analysis identifies the increased support from the governments of several countries across the world as one of the primary growth factors for the solar-powered street lights market. The constantly increasing energy costs and the rise in demand for electricity has induced various governments to form partnerships with international organizations and regional non-governmental organizations (NGOs) to introduce several schemes that provide subsidies for the implementation of solar lighting systems. This will encourage vendors to offer efficient lighting solutions that will be isolated from the national grid. Analysts predict that such initiatives will drive the growth of the solar street lighting market especially in the emerging countries like India, where the government has already introduced the Prakash Path initiative to replace 770 million incandescent bulbs and 35 million street lights with energy-efficient LED bulbs.
Though solar lighting is increasingly adopted by countries across the world, it will mainly benefit the emerging economies such as the countries in Africa and Asia to provide lighting facilities to households that are not connected to the national electricity grids. Though the developing countries concentrate on infrastructure development, providing centralized grid power is financially challenging since it requires extensive labor, cost, and time for developing the entire transmission and distribution (T&D) infrastructure. As a result, these countries will start
Global overview of the industrial uninterruptible power supply (UPS) market
The global industrial UPS market is expected to witness steady growth and will post an impressive CAGR of over 6% by 2020. Much of this market’s growth can be attributed to the rising global demand for power backup solutions. Due to the recent increase in the demand for power backup across industries, UPS systems have started gaining popularity among end-users as they help ensure continuous operations across businesses. Many manufacturing industries, especially the oil and gas, petrochemical and refining, and automobile design facilities, are using UPS systems for power backup to prevent loss of data and productivity. Other industries such as food processing, chemicals, and healthcare also figure among the major end-users of UPS systems.
A key trend that is also anticipated to affect this market’s growth is the recent decline in lithium-ion battery prices. The growth prospects for the industrial UPS market are highly dependent on battery dynamics. Li-ion batteries have higher energy densities than lead-acid batteries or nickel-metal hydride batteries. Having a high-energy density essentially means that the battery can store more electricity in the same size cell but with reduced UPS footprint. This benefit makes Li-ion batteries ideal for use in industrial UPS systems.
Competitive landscape and key vendors
This market is highly competitive and is characterized by the presence of intense pricing pressure, which is leading to price wars. The level of competition in this market is expected to intensify along with the increase in product extensions, technological innovations, and M&A activities.
Top vendors in this market are -
- AMETEK Solidstate Controls
- Emerson Network Power
- Schneider Electric
Overview of the global greenhouse horticulture market
Market research analysts at Technavio predict that the global greenhouse horticulture market will grow steadily during the next four years and post a CAGR of almost 10% by 2020. This market research analysis identifies government subsidies for greenhouse farming as one of the primary growth factors for this market. To encourage the development of greenhouse horticulture, the governments of serval countries across the globe, especially the emerging countries in Asia and Europe, are collaborating with international organizations to introduce several schemes to encourage the adoption of greenhouse horticulture. For instance, the government of Netherlands offers incentives such as the deduction of energy tax or a reduction in the levy on energy consumption for glasshouse horticulture. Similarly, the government of South Africa offers free or subsidized tunnels to farmers and low credit interests that are financed by private banks. Also, the government of India has recently announced that farmers practicing greenhouse horticulture will be provided with 50% to 75% cost subsidy by the government. Such incentives will attract more farmers to shift to greenhouse farming, which will consecutively propel the growth of the market.
One of the major trends that will gain traction in this market in the coming years is the development of rooftop greenhouses. Rapid urbanization that results in reducing the availability of land will induce governments to encourage the development of greenhouses on rooftops. According to the availability of space on the roof, Nexus Greenhouse Systems already provides custom greenhouse designs for rooftop greenhouses in the Americas. Additionally, the rise in urban farming that allows people to grow food
Overview of the global wind turbine gearbox market
Market research analysts at Technavio predict that the global wind turbine gearbox market will grow steadily during the next four years and post an impressive revenue of more than USD 15 billion by 2020. This market research analysis identifies the increasing number of offshore installations as one of the primary factors for the growth of the wind mill gearbox market. Though the installation of off-shore wind farms involves various complexities such costly maintenance operations, several governments around the globe have started to increase their investments towards the installation of offshore wind farms. To reduce the operational costs, countries have started following several strategies such as deploying a larger number of turbines to increase the amount of energy generated and deducing effective strategies to handle supply-chain challenges. This will result in increasing the number of off-shore wind farm projects especially in countries such as the US, China, Japan, South Korea, and India, in turn, fueling the demand for gearboxes for wind turbines.
One of the major trends that will gain traction in this market in the coming years is the increased focus on R&D to increase the reliability of gearboxes. Realizing the need to increase the reliability of gear boxes, gearbox manufacturers will start focusing on improving their quality testing procedures and standards. One of the major windmill gearbox manufacturers Alstom, has already improvised its techniques to ensure that the torque transmission is performed as a separate function, which will help in maintaining the reliability of the turbine gearbox.
Competitive landscape and key vendors
Overview of the global fuel cell market
Market research analysts at Technavio predict that the global fuel cell market will grow steadily during the next four years and in terms of megawatt shipments will post a CAGR of almost 23% by 2020. This market research analysis identifies the increasing incentives from governments of several countries across the globe towards the adoption of fuel cell vehicles as one of the primary growth factors for this market. For instance, to increase the generation of electricity from combined heat and power (CHP), the German government offers additional incentives for CHP configurations. Supporting highly efficient stationary fuel cells configured for co-generation, the government introduced the German Combined Heat and Power Act that offers a CHP bonus of more than Euro 5 per kWh. Similarly, the South Korean government offers a subsidy of more than USD 23,000 and Japan offers a subsidy of almost USD 20,000 for purchasing fuel cell vehicles.
In terms of geographical regions, APAC will be the major revenue contributor to the market throughout the forecast period. Increasing awareness towards the need for reducing energy consumption across various sectors, the rise in investments, and advances in fuel cell technology will propel the market’s growth prospects. Countries such as China, Japan, South Korea, and Taiwan will account for the major market shares where the growth of the market mainly driven by the increasing number of fuel cell installations to meet the demand for reliable power sources.
Competitive landscape and key vendors
Characterized by the presence of several small and medium enterprises and large fuel cell companies
Overview of the global distributed energy generation market
Market research analysts at Technavio predict that the global distributed energy generation market will grow steadily during the next four years and post a CAGR of more than 11% by 2020. This market research analysis identifies the changes in grid structure that allow decentralization of power generation as one of the primary growth factors for the distributed power generation market. With the introduction of smart grids and the expansion of power generation resources, the power generation system has witnessed significant changes in the recent years. Moreover, with global warming becoming one of the major concerns, several countries are focusing on the need for clean, affordable, and reliable energy supply. This in turn, compels utilities and energy companies to generate power using low or no carbon fuels, which demand the need for changes in the grid structure. These changes will result in increasing the complexities of grid operation and energy companies will soon start adopting energy management systems to gain a greater insight of their power network in real time.
The exponential growth of the telecom sector owing to the rise in number of mobile subscribers, will induce telecom operators to install new base transceiver stations (BTS). This will result in the installation of base stations in remote locations where unreliable grid connections demand the usage of diesel generators. Since, diesel accounts for almost 40% of the total operating costs, telecom operators will start adopting distributed
The power industry is in a state of flux — declining fossil fuel reserves are driving energy security concerns, which is boosting prospects for alternative energy sources. Globally, thermal power is steadily losing ground as renewable power like wind, solar, biomass, biogas, geothermal, and tidal power gain traction and more and more renewable sources achieve grid parity.
Integration of renewable energy sources with smart grids has also facilitated the growth of the power industry as a whole. Hydroelectric power and nuclear power are also gaining prominence, as they are cleaner sources of power generation.
As power generation sources are being increasingly diversified, there is a need to strengthen the power transmission and distribution network to support increased generation. Governments globally are making huge investments to upgrade and build new transmission infrastructure.
Distributed generation, micro-grids, and next-generation energy storage are some of the new technologies that are gaining prominence across the industry.