Commercial and industrial energy deals with the storage of backup power. It helps in the prevention of energy losses and disruption related to electricity cut issues. It is widely required in critical facilities, such as power faculties where a short power outage can lead to lives at risk. Thus, to tackle the electricity outage, commercial and industrial energy is expected to witness increased demand during the forecast period. In addition, the energy is required in extreme weather conditions, which lead to power cut, thus making backup energy storage necessary in emergency conditions. The major contributors toward the growth of the commercial and industrial energy market are transportation and commercial sectors due to rapid industrialization and urbanization.
COVID-19 impact analysis
- The global market for commercial and industrial energy is severely impacted by the outbreak of the COVID-19 pandemic.
- The suspension in the commercial and industrial activities will cause a temporary downfall in commercial and industrial energy market.
- The pandemic has forced many industries in the market to nearly stop their operations to comply with the government regulations such as social distancing. Thus, more than 50% of the manufacturing and production in the industries are on halt.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of commercial and industrial energy, which negatively impact the market growth.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The major driving factor of the commercial and industrial energy market is the need for backup power. As many machines in the industry have to run continuously and need constant power energy, consistent power outage may result in great losses. Hence, power back serve as an ideal solution to meet increasing energy demands in emergency conditions. Furthermore, the energy storage system helps in reducing cost utility and improves power quality with reliability. Another driving factor of the commercial and industrial energy market is the emerging rate of research in this sector due to its high potential and durability. However, the major restraint for the commercial and industrial energy market is its higher upfront cost and large storage space requirements.
Surge in usage in commercial and industrial applications
Commercial and industrial energy finds its application in goods production, transportation, heating, cooling, and other activities based on electricity and energy consumption. Many outgrowing large businesses require electricity in commercial products manufacturing and other industrial processes to run the machinery without any disruption. This acts as a key factor that contributes toward the growth of the global market.
Increase in adoption of renewable energy
As the number of solar panels and wind farms increase, the energy derived from these renewable sources increases and is utilized in the main power supply. However, variations in wind speed or sunlight intensity changes the output electricity that may not be enough for the proper functioning of an industry. Hence in such scenarios, energy storage devices have an important role in backup the electricity supply.
Key benefits of the report
- This study presents the analytical depiction of the global commercial and industrial energy market industry along with the current trends and market estimation to determine the imminent investment pockets.
- The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the commercial and industrial energy market share.
- The current market is quantitatively analyzed to highlight the commercial and industrial energy market growth scenario.
- The report provides a detailed market analysis depending on competitive and how the competition will take shape in coming years.
- This report helps users in comprehending the key product segments and their future.
Commercial and Industrial Energy Market Report Highlights
| Aspects | Details |
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 By Application |
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 By End User |
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 By Region |
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 Key Market Players | WGL energy, Bernhard Energy, Siemens AG, Schneider Electric, Enel X, EDF Renewable Energy, Wendel Energy Services, Veolia, Honeywell, Entegity, Johnson Controls, Edison, Swartwatt |
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