Power & Energy Trends

The smart grid systems market is witnessing rapid expansion as utilities worldwide accelerate investments in digital energy infrastructure. Valued at approximately USD 68.2 billion in 2025, the market is estimated to reach USD 83.1 billion in 2026 and is projected to grow significantly to around USD 313.4 billion by 2035, expanding at a CAGR of 15.9% during the forecast period from 2026 to 2035. The market growth is largely driven by the global transition toward cleaner, more efficient, and digitally managed power systems. Governments and energy providers are upgrading traditional electricity networks to support renewable energy integration, improve grid reliability, and enable real-time monitoring of power flows. Smart grid systems play a critical role in enabling automated load balancing, predictive maintenance, and seamless integration of distributed energy resources such as rooftop solar, wind energy, and energy storage systems. As countries intensify their efforts to achieve ne...

With the falling prices of micro inverters and implementation of supportive government initiatives in several countries, the demand for photovoltaic installations is surging sharply. Moreover, the high cost-effectiveness, safety features, and optimal performance of solar micro inverters are further boosting their sales across the globe. Besides, the soaring need for power is also fueling the expansion of the global solar micro inverters market across the world. These energy storage systems can decentralize energy reserves and use energy during the time of peak demand, thereby assisting users in operating the grid more effectively and efficiently. Furthermore, the increasing affordability of these energy storage devices for solar power systems is also expected to drive the market at a CAGR of 15.3% from 2016 to 2026. According to the estimates of the market research company, P&S Intelligence, the value of the market will grow from $431.6 million in 2015 to $1,968.7 million by 2026....

The soaring investments being made for the production and upgradation of the transmission and distribution network in many countries around the world is one of the main factors causing the rise in the requirement of pad-mounted transformers across the globe. In addition to this, rapid advancements in technology, wide-scale application of information technology (IT) t machines, and improvement in process control are further boosting the demand for pad-mounted transformers all over the world. The other important factor responsible for the surging sales of pad-mounted transformers is the rising consumption of energy throughout the world, on account of the increasing population levels and changing lifestyles in several regions. Due to these factors, the global pad-mounted transformer market is expected to exhibit exponential growth in the years to come. A pad-mounted transformer basically refers to a special style of enclosure for bigger transformers that can be easily installed in the re...

A number of factors such as the escalating adoption rate of concentrated solar power (CSP) systems and the soaring demand for energy solutions for heating, ventilation, and air conditioning (HVAC) systems will drive the thermal energy storage market at a CAGR of 15.9% during the forecast period. The market revenue stood at $3,000.9 million in 2017 and it is projected to reach $7,472.9 million by 2023. A thermal energy storage system allows the storage of extra thermal energy, thereby ensuring the availability of energy during periods of peak demand. The burgeoning electricity demand, owing to the rapid urbanization across the world, has led to the installation of different types of power production systems, such as CSP plants. In recent years, Asia-Pacific (APAC) installed and operationalized the largest number of CSP plants in the world. For instance, at present, China has around 111 operational CSP plants. Furthermore, India aims to establish 500 MW capacity CSP plants during the ph...