Power & Energy Trends

The fertilizer industry uses high-volume of hydrogen to manufacture fertilizers, especially ammonia that is used to create nitrogen-based fertilizers. Ammonia is widely used in agricultural activities to maintain crop nutrition and increase productivity. Due to the declining area of arable land, the requirement for ammonia has grown significantly. Owing to this demand, the hydrogen market is expected to increase its size from $136,185.0 million in 2019 to $196,934.5 million by 2030. According to P&S Intelligence, the market will accelerate at a CAGR of 4.3% during the forecast period (2020–2030). To learn more about this report:  https://bit.ly/3mbPh5d On account of the rising demand, hydrogen is being produced through several processes that include coal gasification, partial oxidation, steam-methane reforming, electrolysis, fermentation, ammonia cracking, renewable liquid reforming, and methanol-reforming. Among these processes, companies mostly opt for steam-methane reforming met

The rising popularity of cloud computing and digital processes and surging need to enhance the cooling efficiency in data centers will increase the adoption of critical power and cooling solutions in the coming years. Thus, the escalating demand for generators and air conditioning units in data centers is expected to propel the critical power and cooling solutions market at a CAGR of 10.8% during 2017–2023. According to P&S Intelligence, at this rate, the revenue of the market will increase from $16,320.0 million in 2016 to $32,900.0 million in 2023. The type segment of the critical power and cooling solutions market is bifurcated into critical power and cooling solutions. Of these, the critical power bifurcation accounted for the larger market share in recent years due to the widespread adoption of such solutions in the commercial sector. As a result, the critical power category will dominate the market during the forecast period as well. This category is further divided into gen

An increasing number of people around the world are waking up to gray skies and weak sunlight, even in the height of summers. This is what air pollution does to the environment, besides leading to climate change. Another way pollutants in the air harm the world is by leading to respiratory diseases, such as lung cancer, asthma, and chronic bronchitis. The major reason behind the existence of such pollutants is the burning of fossil fuels for producing electricity and running vehicles.  The usage of fossil fuels can theoretically be reduced, but the 21st-century world cannot live without energy and automobiles. Still, something must be done, which is why initiatives are being taken around the world to reduce the burning of coal, natural gas, and crude oil. This, according to P&S Intelligence, will help in driving the market for energy storage from 171,039.3 Megawatts (MW) in 2019, in terms of the storage capacity added, by 69,917.6 MW by 2030, at a 3.3% CAGR between 2020 and 2030.

With the surge in exploration and production (E&P) activities in both unconventional and conventional oil and gas reserves, the demand for well cementing is growing rapidly all over the world. Moreover, because of the recovery of crude oil prices, the oil and gas industry is booming, which is, in turn, propelling the requirement for well cementing. The soaring E&P investments in countries such as China, Russia, Brazil, and the U.S. are fueling the expansion of the well cementing industry. Due to the above-mentioned factors, the demand for well cementing is rising sharply across the world. This is fueling the progress of the global well cementing market. The valuation of the market is predicted to grow from $7,577.6 million in 2018 to $10,065.4 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.7% between 2019 and 2024. Well cementing is used in shale gas, oil, and gas wells.  Out of these, the requirement for well cementing is predicted to grow ra

Before the COVID-19 pandemic hit, the International Energy Agency (IEA) had forecast the global energy demand to increase by 12% during 2019–2030. Even in the forecast made during the pandemic, the IEA expects it to grow significantly, albeit at a slightly slower pace, 9% to be exact. This corroborates to a previous estimate by the IEA wherein it has forecast the worldwide energy usage to rise from 575 quadrillion British thermal units (Btu) in 2015 to 736 quadrillion Btu by 2040. This factor would prove instrumental in driving the pump jack market from $2,712.8 million in 2016 to 3,800.0 million by 2023, at a 5.0% CAGR between 2017 and 2023 (forecast period), says P&S Intelligence. Though the focus on clean energy is strong, oil still occupies a substantial share in the energy mix of the world. According to the International Renewable Energy Agency (IRENA) in 2019, the world’s oil demand in 2030 would be 60 million barrels per day (bpd). This is why exploration and production (E&

With the rapid technological advancements and digital transformation in various industries and niches, electronics devices are becoming more and more integral components of everyday lives. Moreover, the rising disposable income of people is massively pushing up the sales of various consumer electronics systems such as laptops, cell phones, and tablets. The burgeoning sales of these products are positively impacting the requirement for lithium air batteries. This is because these devices require these high-performance batteries for their operations. To learn more about this report:  https://bit.ly/3rzFnwm The increasing environmental damage being caused due to the extensive usage of petrol and diesel-powered vehicles is a major factor fueling the requirement for eco-friendly alternatives such as electric vehicles all over the world. Furthermore, the growing usage of renewable energy and the launch of several clean energy projects are boosting the sales of highly efficient batteries such