Table Of Contents
Yerukola Eswara Prasad
Pooja Parvatkar
Energy and Power: Top 5 Emerging Markets in Q1 2024 by Allied Market Research
The Energy and Power industry is gaining momentum due to factors such as technological advancements, environmental concerns and regulations, rising shift toward renewable energy sources, and digitalization.
Allied Market Research (AMR) has analyzed the top 5 emerging markets in the energy and power domain for the first quarter of 2024 by highlighting the most promising areas of expansion and investment.
AMR employs its in-house 'Title Matrix Tool' to pinpoint and rank markets by using predetermined parameters sourced from research analysts and parallel teams. Reports undergo evaluation based on their relevance, current significance, ongoing events, Compound Annual Growth Rate (CAGR), escalating client demand, relevance of key players, market size, and other parameters.
The primary objective of these reports is to resolve several business queries such as present size and projections, primary driving forces and opportunities, prominent participants and their strategies, hurdles and potential risks, regional variations, and the competitive scenario within the industry. Additionally, these reports integrate retrospective analysis and historical data to offer a thorough comprehension of the dynamics.
Electric Control Panel
As per the report by AMR, the global electric control panel market is expected to garner $10.3 billion by 2032. Technological advancements and the increasing trend of automation are propelling the demand for electric control panels market report. The segmentation analysis in the report reflects the base number and forecast estimations. By application, the growth rate and estimated forecast of the global electric control panel industry are as below:
By using the segmentation analysis, stakeholders can understand the key investment pockets and profitable growth opportunities among each segment. Electric control panels are gaining popularity due to their widespread applicability in automating the production process of various industries such as oil and gas, automotive, food and beverages, pharmaceuticals, and manufacturing, commercial, agriculture and residential.
Research is significantly important in the market because of the growing automation trend and increased need for electric control panels across different industries.
Gas Insulated Switchgear
The global gas insulated switchgear market is anticipated to generate $35.2 billion by 2032. Research on the gas insulated switchgear industry is important due to the heightened demand for electricity. Gas insulated switchgears are extensively used in electrical substations for power distribution, compact and space-saving electrical substations, and smart grids. GIS offers smooth integration and extensively used in high-capacity substations to fulfil the surging need for renewable energy integration. These factors are boosting the growth of the global gas insulated switchgear industry.
This report offers a quantitative assessment during the forecast timeframe of 2022 to 2032. An in-depth examination of segmentation for gas insulated switchgear assists in identifying existing opportunities. The global gas insulated switchgear market is segmented on the basis of technology, voltage, and application. Additionally, it predicts the fastest growing and highest revenue generating segment among each category. For instance, by technology, the hybrid switchgear segment generated the largest share of 46.8% in 2022.
Composite Insulators
The global composite insulators market is expected to generate an absolute revenue of $5.6 billion with a growing CAGR of 4.3% during the forecast period of 2023 to 2032. The market is gaining momentum due to the surge in demand for efficient and reliable electricity transmission and distribution. Moreover, the shift toward renewable energy sources significantly contributes to the expansion.
Innovations in composite formulations, design engineering, and testing methodologies are directed toward improving the efficiency, reliability, and cost-effectiveness of composite insulators. These advancements are aligned with the global efforts to create a more sustainable and resilient power grid. Moreover, huge investments by governments of emerging countries for advanced distribution and transmission networks are expected to provide promising growth opportunities for the market in future.
The report is an excellent source of competitive scenario. It covers top players and strategies adopted by them to sustain the competitive market. This analysis offers profiles of prominent market players including Zhejiang Zhenchao Petrochemical Machinery Co., Ltd., LAPP Insulators GmbH, Victor Insulators, Inc., Aditya Birla Insulators. These organizations are leading the way in innovation and growth, propelling the industry forward through their varied product ranges and strategic alliances. Moreover, AMR has identified additional noteworthy participants who contribute to the market's competitiveness. This data on prominent players in the global composite insulators industry provides businesses with invaluable insights for strategic decision-making.
Transmission Line
A transmission line functions as a conductive pathway utilized for efficiently transmitting electrical signals or power from one location to another over considerable distances. The global transmission line market generated $41.5 billion in 2022 and is anticipated to hold $80.9 billion with a notable CAGR of 7.2% by 2032. Research on transmission lines is important because the world is rapidly shifting toward sustainable energy sources to combat climate change. The market is gaining traction due to the rise in demand for renewable energy and increase in number of interconnection projects.
The report gives detailed segmentation of the global transmission line industry by type, voltage, product, and end use. It also discusses driving factors and opportunities for each segment. For instance, by end user, the utility segment garnered the major share in 2022 and is projected to display the highest CAGR of 7.4% by 2032. This dominance is attributed to the high spending by electric utilities in new transmission infrastructure and operation/maintenance of existing systems.
The report comprehensively analyzes the industry from 2022 to 2032, offering qualitative and quantitative regional landscapes. It covers the transmission lines market across Asia-Pacific, LAMEA, Europe, and North America. This regional analysis involves estimations with driving factors and opportunities. These estimations deliver a brief idea of investment opportunities across particular regions. For instance, the transmission lines market in Asia-Pacific held the largest share in 2022. The growth is attributed to high investments by emerging economies like India, China, and Bangladesh to upgrade power grids. These nations focus on addressing the rising energy requirements of their urbanizing populations. As a result, there is a growing demand for the construction of new high-voltage transmission lines and the renovation of existing infrastructure.
Green Diesel
The global green diesel market report includes data for various segments, including the Compound Annual Growth Rate (CAGR) from 2023 to 2032, annual growth rate analysis, pricing analysis, and other relevant metrics. This information assists business entities to grasp the various trends and strategic approaches prevalent in the market and allows them to formulate their strategies.
Green diesel is a fuel derived from fats and oils, such as soybean oil or canola oil, which undergoes a process to become chemically identical to petroleum diesel. It is used as substitute fuel or blended with any proportion of petroleum diesel. The global green diesel industry is expected to hold $92.3 billion with a notable CAGR of 11.7% by 2032. Rise in environmental concerns and government policies and incentives are fueling the growth of the sector. However, advancements in microbial engineering and synthetic biology are expected to offer promising growth opportunities for the market in future.
The global green diesel market report uses various research methods such as surveys, interviews and social media to compile the data in the report. Porters' Five Forces analysis highlights the importance of financial factors in the development of businesses' growth strategies. It also emphasizes the potency of buyers and suppliers to allow stakeholders to make profit-driven business decisions and enhance their supplier-buyer network.
Competitive Scenario
The top 5 emerging markets analyzed by AMR in the energy and power sector for Q1 2024 provide a detailed analysis of investment opportunities, recent trends, and the competitive landscape. These reports assist investors and stakeholders to make well-informed business decisions. These reports contain market size data in terms of value along with other details such as regulation analysis, Porter’s five forces analysis, and pricing analysis. The competitive scenario in each report focuses on top players and their strategies to strengthen market position.
The increasing trend of automation and rising demand for electric control panels in various sectors highlights the importance of electric control panel market analysis. Research on the gas insulated switchgear market is important due to the heightened demand for electricity across the globe. The composite insulators market report focuses on the transition towards renewable energy sources. Moreover, the transmission line market report highlights the growing shift toward greener and sustainable energy sources to combat climate change. The green diesel market report indicates the influence of green diesel on efficiency, scalability, and the diversification of feedstock sources.
Reports of these emerging markets in the energy and power vertical are essential for stakeholders to understand dynamics and develop novel strategies to succeed in these dynamic industries.
End Note
The final deliverables of reports involve detailed analysis of investment opportunities, recent trends, and the competitive landscape. These deliverables would empower clients to acquire a comprehensive understanding of the dynamic market. Also, they will enable clients to evaluate market opportunities, compare their strategies with competitors, and make informed business decisions. To gain detailed insights of investment opportunities in the Energy and Power industry, feel free to contact us!
