Power & Energy Trends

Cinnamaldehyde is added to improve the taste of medicines and foods and used as a flavoring agent in candies, liquid refreshments, chewing gums, and ice creams. Moreover, the chemical is used in combating bad breath and tooth decay and curbing bacterial growth in oral cavities, owing to its antifungal and antibacterial properties. Additionally, the antidiabetic property of cinnamaldehyde helps in raising the plasma insulin level and reducing the plasma glucose level. Additionally, the chemical aids in preventing corrosion in steel and other iron alloys in corrosive fluids. Furthermore, the chemical is used in cosmetics and personal care items. The spurring demand for these products, especially in the emerging economies, owing to the booming geriatric population, is expected to drive the cinnamaldehyde market at a CAGR of 6.5% during the forecast period (2017–2023). The market stood at $183.7 million in 2016, and it is projected to reach $280.3 million by 2023 . Moreover, the growing im

The widescale installation of photovoltaic (PV) modules, continuous research and development (R&D) in solar cell technologies, and advent of crystalline silicon solar technology are expected to drive the market for solar encapsulant at a CAGR of 28.4% during the forecast period (2018–2023). The market generated a revenue of $1,036.0 million in 2017 and it is projected to generate $4,555.4 million by 2023. Moreover, the escalating awareness among people regarding the benefits of the solar cell technologies will propel market growth in the coming years. One of the prominent trends currently being observed in the solar encapsulant market is the rising incorporation of thin-film solar cell technology. This is mainly credited to the fact that the conventionally used crystalline silicon solar technology-based solar modules have high production costs and fragile nature. In addition to this, the thin-film solar cell technology has lower costs than the crystalline silicon solar technology

A virtual power plant is a centralized control system that is connected to power generating and transmitting units. Owing to the connection to such units, VPP requires lesser capital and can integrate several distributed energy resources. Due to low capital investments, power deficit countries like India, Nigeria, and Indonesia are increasing their reliance on VPPs. To ensure the development of sustainable and smoothly integrated power systems, such developing countries have escalated their spending on the development of VPPs to create an adequate power infrastructure. Additionally, the rapid shift from non-renewable energy sources to renewable sources will fuel the growth of virtual power plant market at 18.6% CAGR during forecast period. The development of non-conventional power plants will produce a large amount of energy, which will require an advanced power evacuation infrastructure to support the reliable flow of power. This will boost the creation of VPPs, which will ensure the

The increasing focus of several European, Asian, and North American countries on energy security and sustainable energy is one of the major factors fueling the demand for geothermal power across the world. The governments of these countries are taking initiatives for reducing their oil imports and reliance on non-renewable energy sources for power generation. For example, the European Union, under the Renewable Energy Directive (RED), aims to fulfill at least 20% of its power requirements with renewable energy by 2020. These initiatives are causing a massive surge in the demand for geothermal energy all over the world, which is, in turn, driving the expansion of the global geothermal power market. Geothermal power is basically the power produced from geothermal power plants from the heat energy stored under the crust. These plants use the steam generated from hot water reservoirs situated beneath the surface of the Earth. The steam is needed for rotating the turbine, which then produc

The need for reducing carbon footprints is increasing day by day, as the pollution levels across the globe are on a rise. The excessive dependence on energy that is generated from fossil fuels has led to current energy crisis, which is why it is important to shift the focus towards energy conservation and resources that produce clean power. Due to these factors, research & development has been going on for coming up with solutions that can aid in conserving energy without compromising on its surging demand across the globe.  These activities have resulted in the development of smart grid technology, which can be defined as the digital technology that enables two-way communication between customers and the utility. Smart grid has a number of benefits, including efficient transmission of power, decreased management and operational cost for utilities and customers, increased integration of renewable energy systems, enhanced security, decreased peak demand, and swift restoration of ele

The increasing provision of government subsidies, tax benefit schemes, and investment tax credits and the implementation of FIT programs in several countries are positively impacting the demand for solar control glass across the world. Moreover, the enactment of favorable government policies and laws such as tax reliefs to construction companies and the provision of 100% FDI for infrastructural development projects are boosting the sales of solar control glass in emerging economies such as India. In addition to the above-mentioned factors, the rapid construction of residential and non-residential buildings in various countries, on account of the increasing urbanization and industrialization rates, is also propelling the demand for solar control glass around the world, which is, in turn, driving the advancement of the global solar control glass market. Solar control glass contains a coating that directly reflects a significant portion of the sunlight falling on it, thereby reducing the

The low levels of volatile organic compounds (VOCs) in acrylic surface coatings have led to their increasing adoption. This can be ascribed to the growing awareness about the harmful effects of VOCs, like cancer and respiratory illnesses. On account of these reasons, governments of various countries have amended norms to lower the VOC emission levels, which are coercing the manufacturers to develop eco-friendly coatings. Moreover, the amplifying environmental concerns have encouraged manufacturers and customers to shift toward acrylic products. Furthermore, the increasing usage of coatings for decorative purposes will escalate the market for acrylic surface coating at a CAGR of 5.2% during 2016–2022. The market was valued at $24,121.1 million in 2015, and it is expected to reach $34,720.3 million by 2022. These coatings are used for raising the aesthetic value of vehicles, interior and exterior walls, and furniture. As a result, the high-volume adoption of decorative coatings can be o

Due to their rapidly declining manufacturing costs, the sales of ultra-thin solar cells are rising sharply across the world. The final purchase price of the photovoltaic cells is one of the major factors that decides the final cost at which solar power is sold to end users. Although the levelized cost of energy (LCoE) of photovoltaic panels is significantly lesser than that of other renewable energy sources, it is still higher than that of fossil fuels. Apart from the aforementioned factors, the ballooning requirement for sustainable energy, due to the escalating air pollution levels, is also positively impacting the demand for ultra-thin solar cells across the world. This is, in turn, propelling the advancement of the global ultra-thin solar cells market . As a result, the market attained a valuation of $30.0 million in 2019. Furthermore, the market is predicted to progress at a CAGR of 56.9% between 2020 and 2030. Depending on grid type, the ultra-thin solar cells market is divided i

The Gulf Cooperation Council facility management market advance is propelled by the factors such as the soaring demand for facility management services for industrial units, commercial and residential buildings, and civil infrastructure units, and the increasing desire of governments to develop other sectors through plans like the Saudi Vision 2030, the U.A.E. Vision 2021, the Kuwait National Development Plan, and the Qatar National Vision 2030. These factors will, therefore, accelerate the market at a CAGR of 10.1% during 2020–2030.  Moreover, expansion of the construction sector in the GCC countries, on account of surging tourism activities and favorable economic conditions, will fuel the adoption of facility management services in the coming years. As a part of different strategic visions, such as the Qatar National Vision 2030 and the U.A.E. Vision 2021, the GCC member nations are allocating high budgets to the construction sector. Additionally, the increasing concentration of hot

The consumer electronics industry has been registering significant growth since the past few years, as the disposable income of people is increasing rapidly, majorly in emerging economies. Since developing countries have been registering steady economic growth, a larger number of people are able to buy consumer electronics such as mobile phones and laptops. Because of this reason, the adoption of electric vehicles has also increased across the people. Moreover, as the focus on reducing the usage of fossil fuels is growing, people are increasingly opting for these vehicles. To learn more about this report:  https://bit.ly/33hPfju Batteries are an important part of both consumer electronics and electric vehicles, ascribed to which, the global smart battery charger market is projected to witness considerable growth in the years to come. Smart battery chargers have three charging stages, namely boost stage, absorption stage, and float or maintenance stage. These chargers have a number of h