Power & Energy Trends

From around 180,000 Megawatts (MW) in 2010, the global installed capacity of wind plants grew massively to more than 733,000 MW in 2020, as per the International Renewable Energy Agency (IRENA). Moreover, as per a report by the Global Wind Energy Council (GWEC), the world needs to add 180 Gigawatts (GW) of wind energy capacity each year till 2050 if the net carbon emissions are to be reduced to zero. This reflects a significant surge in the wind tower market revenue in the future, as these are the most-essential components of a wind farm. There are several types of wind towers, each with its set of benefits. Of these, tubular steel towers, which are conical in shape, are the most popular. They offer higher strength to the nacelle and turbine as they are wider at their base and narrow at the top, which also helps save material. Being made from steel makes them ideal for heavy turbines. Even more advantageous are lattice towers, which are made from welded steel instead of sheets of the

The Indian diesel genset market had a valuation of $1,105.7 million in 2019 and is predicted to generate a revenue of $2,365.2 million by 2030. Furthermore, the market will progress at a CAGR of 12.5% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. The rapid expansion in the manufacturing sector and the growing requirement for power for various commercial applications in the country are the main market growth drivers. The demand for reliable power supply during construction activities and also after the leasing out of the finished infrastructure projects majorly drives the Indian gensets market. In a large part of India, the grid supply is still erratic, owing to the aging transmission infrastructure or infrastructure that is inadequate, to begin with. Essential settings such as telecom towers, manufacturing plants, hospitals, oil and gas plants, and railways require uninterrupted power, for which generators are essential.

Commercial and residential installations in the Philippines opt for charcoal owing to its traditional favorability, affordability of stoves and accessories, easy availability than coconut shells and wood, low cost, and taste favorability in comparison to other fuels. Low-income households, as well as upper-income groups, witness a high adoption of this conventional fuel source owing to the aforementioned reasons. Moreover, the surging requirement for products that create activated carbon will boost the usage of charcoal in the coming years. Moreover, the changing food preferences of the people will drive the Philippines charcoal market at a CAGR of 2.9% during the forecast period (2020–2030). The market generated revenue of $500.0 million in 2019, and it is expected to reach $688.2 million by 2030 . Individuals are increasingly consuming barbecued food owing to the changes in their taste preferences and adoption of new cooking styles. As a result, the installation of live barbecue stat

Artificial lift is used in oil wells to increase pressure within the reservoir to bring oil to the surface. This machine is deployed to recover more production from oil reservoirs where the natural drive energy is very weak. The surging number of mature oil and gas fields will fuel the artificial lift market at a CAGR of 5.3% during forecast period. According to P&S Intelligence, the market was valued at $8,010.8 million in 2017 and it is projected to reach $10,883.1 million revenue by 2023. Moreover, the rising availability of recoverable shale gas will also lead to the large-scale deployment of artificial lifts at the shale gas reserves. Artificial lifting methods are utilized in horizontal shale gas-producing wells to lift the accumulated fluids and aid in sustaining the performance of the well. According to the U.S. Energy Information Administration (EIA), shale gas reserves are found in about 30 states of the country. At present, the Marcellus shale play in the Appalachian Ba

The U.S. has recently observed a significant rise in the number of data centers, due to the adoption of advanced technologies like 5G, the internet of things (IoT), and edge computing. The deployment of these technologies requires additional storage space for the high-volume data generated by them. Therefore, the extensive investments in the development of data centers will propel the installation of diesel gensets in the U.S., as these facilities require a reliable power backup facility, which is offered by generators. Additionally, the growth of the construction industry in the country will drive the U.S. diesel genset market at a CAGR of 7.2% during the forecast period (2020–2030). The market was valued at $2,187.4 million in 2019, and it is expected to reach $3,797.6 million by 2030 . The U.S. Department of Transportation (US DOT), in December 2018, announced the second round of the INFRA discretionary grants program for the infrastructure sector of the country, which has been, sin