Power & Energy Trends

With the rapid industrialization and globalization, the requirement for oil & gas is growing. Oil & gas are major fuels that are used across all industries. Companies in the oil & gas sector have to carry out extensive exploration & production (E&P) activities to discover crude reserves; these activities are time-consuming and cost-intensive. Purification of shale gas and crude oil is another step that adds to the economic burden on companies. To achieve this, they are taking help of the digital oilfield technology, which makes use of artificial lift systems, video data analytics, and sensors for improving the drilling and transportation aspects of the whole process. The deployment of this technology in the E&P activities not only speeds up the production process, but also helps in lowering down the operational costs, thereby resulting in higher returns on investments for the companies.  Digital oilfield technologies combine data analysis techniques and adva...

The Indian generator market attained a value of $1,385.6 million in 2019 and is predicted to advance at a CAGR of 13.3% between 2020 and 2030. The market is also expected to generate a revenue of $3,006.6 million by 2030. The main factors fueling the advancement of the market are the growing requirement for high- and medium-power gensets in the commercial sector and the thriving manufacturing and construction industries in the country. In India, the manufacturing industry has registered a massive growth in recent years and this trend is likely to continue in the coming years. This would be because of the implementation of various government initiatives such as outreach and support programs for micro, small, and medium enterprises (MSMEs), huge investments in the development of several industrial corridors, and domestic industrial growth policies such as Make in India. The growth of this industry is fueling the requirement for backup power supply. In the future years, the Indian genset...

The major reasons the world is now adopting floating solar panels are that they do away with the need to acquire large tracts of land and the government policies and initiatives that support their usage. Owing to these factors, the floating solar panels market, which generated revenue of $685.2 million in 2019, is predicted to advance to $2,301.8 million by 2026. Such photovoltaic (PV) panels are fixed on top of a buoyant structure, which floats on water. On the basis of type, the industry is bifurcated into solar-tracking and stationary panels, of which the stationary bifurcation held the larger share in 2019. This is because these variants are not affected much by water currents, and they are also cheaper than solar-tracking panels. Moreover, if a panel is damaged, it is easier and more cost-effective to restructure a stationary variant. This is the reason the stationary bifurcation will keep generating the higher revenue during the forecast period (2020–2026). The bifurcations withi...

This is one of the key reasons that P&S Intelligence says will help the Asian charcoal briquettes market reach $1,158.4 million by 2024 from $952.5 million in 2019, at a 6.2% CAGR between 2020 and 2024. Barbecue has, for long, been associated with the culinary culture of South Korea, Japan, and Australia, whereas the tandoor is, in a way, synonymous with Indian food. All these food traditions have majorly utilized coal till now, but with time, the awareness about the harms of burning this substance has risen massively. Charcoal is considered a cleaner fuel for the purpose, which is why it has started replacing coal. India is presently the largest Asian charcoal briquettes market because it is home to a number of producers, therefore accounts for a rather high-volume availability of the fuel. In 2018, 2,880.0 thousand tons of the fuel were produced in the country, says the Food and Agriculture Organization (FAO), which allowed for its easy availability in rural areas, where many pe...

The global offshore wind turbine market is predicted to attain a revenue of $68,869.3 million by 2026, increasing from $24,683.3 million in 2019, according to a research conducted by P&S Intelligence. The market has been registering growth due to the rising investments in renewable energy resources, favorable government policies, and technological advancements. When water depth is taken into consideration, the market is divided into deep water (>60 m), transitional water (30 m to 60 m), and shallow water (up to 30 m).  Geographically, the Asia-Pacific region is projected to register the highest number of wind turbine projects in the offshore wind turbine market , owing to the rising government initiatives regarding the promotion of offshore installation of windmills. The surging energy demand and high dependence on fossil-fuels for power generation are further creating the high need for eco-friendly and cost-effective wind turbine installations on oceans, lakes, and seas. Th...