Overview of the global industrial biomass boiler market
Market research analysts at Technavio predict that the global industrial biomass boiler market will grow steadily during the next four years and post a CAGR of more than 7% by 2020. This market research analysis identifies the development of biomass co-firing boilers for decarburization as one of the primary growth factors for this market. The increasing focus of governments across the globe to reduce the dependency on fossil fuel and related emissions, has compelled utilities and the manufacturing industries to replace fossil fuel with alternate fuels. This led to the development of boilers that use renewable fuels such as biomass. In addition to reducing CO2 emissions, the adoption of these biomass boilers also helps in waste management as the waste that is normally dumped in landfills is used as fuel. Vendors will start manufacturing boilers with co-firing capabilities where both coal and a wide range of renewable fuels can be used for power generation.
The rise in use of biomass district heating will be one of the major trends that will gain traction in this market during the next four years. This will be mainly used in areas where the building density is high and a single boiler can generate heat that is transferred through a heat network to cater to several buildings. When compared to individual heaters, district heating centers are more convenient as they can use alternate fuel to provide heat when there is a shortage of biomass supply.
Competitive landscape and key vendors
The market is characterized by the presence of well-established vendors and is mainly dominated by domestic or local vendors in several regions, which leads to fierce competition among market players. Well-established vendors have high capital resources and are
Overview of the global renewable energy investment market
Technavio’s market research analyst predicts the global renewable energy investment market to exceed USD 350 billion by 2020. Investments in renewable energy generation have risen significantly in recent years due to the rising instances of power crisis and the growing need for cleaner power resources. Renewable resources, such as wind and sunlight, enable power generation with minimal greenhouses gasses emissions. Such a high demand for renewable power has triggered a flurry of investments in renewable power generation by companies across the globe. The US Supreme Court decision to remove legal objections to the environmental protection agency's clean power plan will positively boost investments in renewable power generation during the forecast period. Moreover, rising investments in solar power from the oil and gas industry will further enhance the growth opportunities for this market in the coming years.
As per this market analysis, there will be an increased spending on utility-scale renewable energy projects as they benefit from state and local policies and programs. Renewable energy projects that are more than 10 MW are termed as utility-scale renewable energy projects. The utility-scale renewable energy projects are considered to be highly individualized energy projects where the most effective countries have integrated renewable portfolio standards with financial mechanisms such as tax benefits and clean energy fund grants. Such facilities help in encouraging and supporting the development of large-scale projects within their borders by implementing transparent measures.
Competitive landscape and key vendors
The competition is intense among vendors in the market as they are trying to shift towards a hybrid
Overview of the global microturbine market
Market research analysts at Technavio have predicted that the global microturbine market will grow steadily during the next four years and will post an impressive CAGR of more than 21% by 2020. This market research analysis identifies the decommissioning of nuclear power plants as one of the primary growth factors for the microturbine systems market. Though expensive, nuclear energy is considered to be a clean source of energy and gained prominence in the late 20th century. However, a number of accidents at the nuclear plants such as at Three Mile Island, Pennsylvania, US, and Chernobyl, Ukraine slowed down the growth of the nuclear power industry. The Fukushima disaster of 2011 induced several countries to revisit their energy generation portfolio and update their safety regulations. Countries such as Germany and France have already started decommissioning their nuclear plants and replacing them with gas-based or renewable energy-based power generation. However, energy- and gas-based power generation require huge investment for upgrading the grid infrastructure. As a result, standalone structures such as microturbines will be preferred by governments and the market will witness a spike in its growth, especially in countries with regulations to decommission nuclear plants.
In terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the next four years. This market study estimates that this region will account for more than 48% of the total market shares by 2020. The US will be the major contributor to the market where incentives from the government,
Global outlook of the off-grid remote sensing power system market
Technavio’s market research analysts have predicted that the global off-grid remote sensing power system market will grow steadily in the next four years and will post a CAGR of more than 10% by 2020. This industry research report identifies the growing adoption of light detection and ranging (LIDAR) for accuracy in wind speed measurement to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Power generation using wind energy is highly dependent on the meteorological conditions, which results in the growing demand for remote sensing devices for determining the speed of wind and its direction at various heights. LIDAR is used by the wind industry to measure the vertical wind speed and also collect data up to several meters above the ground level. Compared to meteorological evaluation towers (MET), LIDAR can provide highly accurate information that helps in reducing uncertainties and also in ensuring that the project gets adequate financing. The increasing adoption of LIDAR technology, will, in turn, fuel the demand for off-grid remote sensing power systems as there is a constant need to ensure continuous power supply to LIDAR systems in off-grid locations.
The ability of remote sensing technology to provide world-class applications will result in its adoption by several end-user industries, such as oil and gas, aviation, and wind power industries. In addition to accuracy, LIDAR technology has several advantages over the MET systems such as low maintenance and higher uptime. As a result, the coming years will witness the replacement of the existing MET masts by
Overview of the global solar home lighting market
Market research analysts at Technavio have predicted that the global solar home lighting market will grow impressively and post a CAGR of about 20% during the forecast period. Fossil fuels currently account for more than 80% of the world's energy demand. The demand for fossil fuels is expected to increase in the coming years and is mainly attributed to the increasing demand for energy across the globe, especially from the non-OECD (Organization for Economic Co-operation and Development) countries such as China and India. The impact of rapid industrialization on the environment is quite significant and has resulted in the rise in global temperatures of both the land surface and water bodies. The rise in demand for energy from residential and industrial consumers is quite imminent and so is the extensive use of fossil fuels that result in a significant cost to the environment in the form of greenhouse gas emissions. The implementation of renewable sources of energy, such as solar, wind, and hydro energy will significantly reduce the emission of greenhouse gasses and also help achieve the goal of creating a sustainable environment.
This market research analysis predicts that the increased collaboration between the local governments, international organizations, and regional NGOs will greatly contribute to the growth of the solar powered lights market over the next four years. Governments have started introducing several schemes for encouraging the development of the solar home lighting systems. It provides subsidies and discounts to projects that aim at the development and implementation of the lighting systems using renewable energy sources. This
Global outlook of the microgrid market
Technavio’s market research analysts have predicted that the global microgrid market will grow steadily at a CAGR of more than 13% by 2020. This industry research report identifies the growing need for better power system compared with traditional grids as one of the major factors that will have a positive impact on the growth of this market in the coming years. The constantly rising energy cost, aging infrastructure, mass electrification, and climatic changes have induced countries around the globe to focus on improving their grid infrastructure. The North American power grid is vulnerable due to the aging grid infrastructure and the power utilities in Asia suffer from low electrification rate where millions of people still lack access to reliable grid electricity. Also, there is a considerable amount of energy loss during transmission and distribution. These drawbacks in conventional electricity production will drive the implementation of microgrids that are a composition of multiple energy generation sources, such as solar, wind, biomass, geothermal, and fossil fuel, and can be used to generate and supply electricity to a local community, university, or a military base.
Microgrid systems are one of the efficient means to provide continuous power and will soon find significant applications in the military sector. The military sector consumes high amounts of energy every year and has started focusing on becoming more self-sufficient. This will induce regular investments in the development of microgrid projects and the deployment of mobile microgrids for military applications in the coming years.
Competitive landscape and key vendors
The market is
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.