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Delray Beach, FL, April 14, 2025 (GLOBE NEWSWIRE) -- Renewable Energy Certificate (REC) Market is projected to grow from USD 27.99 billion in 2025 to USD 45.45 billion by 2030, at a CAGR of 10.2%, as per the recent study by MarketsandMarkets™. Majority of the countries are expected to develop REC trading platforms, making access and trading more convenient. The market is primarily driven by the growing corporate emphasis on sustainability to align with consumer preferences and increasing national disclosure requirements. Additionally, long-term factors such as corporate interest in Power Purchase Agreements (PPAs) and evolving regulations reinforce renewable energy certificates (RECs) as the key instrument for legitimately claiming renewable energy usage.

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Delray Beach, FL, April 08, 2025 (GLOBE NEWSWIRE) -- Downhole Tools Market share is projected to grow from USD 6.1 billion in 2024 to USD 7.8 billion by 2029, at a CAGR of 4.8%, as per the recent study by MarketsandMarkets™. Downhole tools are essential because they are used in safe, efficient, and productive extraction of oil and gas from underground reservoirs. Downhole tools are critical for the oil and gas industry because they enable efficient drilling, ensure well integrity, optimize production, provide essential data, facilitate well maintenance, and enhance oil recovery.

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The global Energy Management Systems Market share is expected to grow from USD 49.01 billion in 2025 to USD 84.34 billion by 2029, at a CAGR of 13.8% during 2025-2029. Rising energy costs, integration of renewable sources for power generation, and strict government regulations and laws to reduce carbon and facilitate energy efficiency are promoting the growing EMS market worldwide. Adoption of smart grid technology and increased IoT-enabled devices further drive the growth in the EMS market by helping in monitoring and optimizing real-time energy usage. There will be increased innovation for redefining the EMS market landscape with applications based on AI or predictive analytics integration, along with enhanced cloud-based energy management solutions.

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The global Switchgear Monitoring System Market is projected to reach USD 2.7 billion by 2028 from an estimated USD 1.8 billion in 2023, at a CAGR of 8.4% during the forecast period. The demand to secure electrical distribution systems is the need for the continuous monitoring of switchgear, and growing investments in renewable energy offer high-growth opportunities for the market.

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/PRNewswire/ -- The global Renewable Energy Certificate (REC) Market is anticipated to grow from estimated USD 27.99 billion in 2025 to USD 45.45 billion by 2030, at a CAGR of 10.2% during the forecast period. Majority of the countries are expected to develop REC trading platforms, making access and trading more convenient. The market is primarily driven by the growing corporate emphasis on sustainability to align with consumer preferences and increasing national disclosure requirements. Additionally, long-term factors such as corporate interest in Power Purchase Agreements (PPAs) and evolving regulations reinforce renewable energy certificates (RECs) as the key instrument for legitimately claiming renewable energy usage.

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The global portable power station market is projected to reach USD 1.12 billion by 2028 from an estimated USD 0.48 billion in 2023, at a CAGR of 18.4% during the forecast period. Portable power stations are portable and compact devices that function as independent power sources. Their purpose is to store electrical energy obtained from diverse sources such as solar panels, wall outlets, or car chargers, and subsequently utilize this energy to supply power to electronic devices and appliances. The growing demand for market backup power for portable power stations is increasing as a result of reliable, rising outdoor recreational activities and increasing use of renewable energy sources. Recurring electrical outage about the need for severe weather conditions, an aging power grid, and requirement for emergency preparations has increased the demand for portable, off-grid energy solutions. In North America, the market is growing rapidly as a result of increasing consumer demand for green power solutions, rising natural disasters and renewable energy infrastructure for heavy investment in the infrastructure. The increasing popularity of electric vehicles and their integration along with solar power systems also demand fuel. The government also plays an important role in expanding the market towards encouragement and stability by the government towards clean energy.

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The global Electric Motors Market share is expected to grow from USD 152.2 billion in 2024 to USD 206.4 billion by 2029, at a CAGR of 6.3% during 2024-2029. As the world population grows and economies expand, the demand for energy, particularly oil and gas, continues to rise. Increasing demand for HVAC (Heating, Ventilation, and Air Conditioning) systems among residential, commercial, and industrial end-users, industries shift towards energy-efficient electric motors due to lowered energy utilization and operational costs in manufacturing industries are some of the major driving factors for the electric motors market.

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The global Engines and Gensets Outlook is expected to grow from estimated USD 401.95 billion in 2024 to USD 417.31 billion by 2025, at a YoY increase of 3.8%. The engines and gensets outlook highlights that both industries are experiencing significant growth driven by the rising demand for fuel-efficient, low-emission engines and reliable power solutions. Engine, which convert fuel into mechanical energy, play a crucial role in industries such as automotive, marine, aerospace, and power generation, thanks to their durability, scalability, and ability to handle high loads in both small- and large-scale applications. Similarly, gensets are becoming indispensable for ensuring a steady power supply in critical sectors like healthcare, telecommunications, and IT, especially in the face of frequent power outages and frail grid infrastructure. The rapid pace of industrialization and urbanization, including infrastructure projects like buildings, roads, and airports, has further accelerated demand.

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The global Electrical Bushings Market share is expected to grow from estimated USD 3.67 billion in 2024 to USD 4.77 billion by 2029, at a CAGR of 5.4% during the forecast period. The growth in the global Electrical Bushings Market is attributed to several factors. The principal factor includes the expansion of the infrastructure for power generation and distribution, which has been primarily driven by an increased global demand for electricity. The Asian Pacific region and Africa have become significant sites for rapid urbanization and industrialization. The need for reliable electrical components to complement such development explains the growth rate. The increasing demand for renewable energy generation, wind, and solar power has further increased the demand for electrical bushings, particularly grid integration. Stringent regulation and standards on the reliability and safety of power transmission networks in Europe and North America further support market growth.

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Delray Beach, FL, March 19, 2025 (GLOBE NEWSWIRE) -- Diesel Generator Market size is projected to grow from USD 17.9 billion in 2024 to USD 23.4 billion by 2029, at a CAGR of 5.4%, as per the recent study by MarketsandMarkets™. Diesel generators are essential because they provide reliable and constant source of electricity during power outages and emergencies. The longevity and durability of diesel generators allow them to operate over extended periods ensuring continuous power supply during emergencies.

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The global Nuclear Power Market Share is expected to grow from estimated USD 38.84 billion in 2024 to USD 44.71 billion by 2029, at a CAGR of 2.9% during the forecast period. The major factors driving the market growth of the nuclear power market include various driving factors such as many governments view nuclear power as a strategic constituent of their energy policy, and provide subsidies, tax incentives, or direct investment to build up nuclear projects. For example, some countries like China, Russia, and France have long-term plans to expand their nuclear power capacity. In addition, governments also set regulatory frameworks that ensure the safe development of nuclear energy. Similarly, Volatile and rising prices of fossil fuels such as oil, gas, and coal also make nuclear energy even more appealing as a cost-competitive alternative. Since fuel is needed in only small amounts in nuclear plants, uranium price volatility does not significantly affect the general energy costs.

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The global Electrolyzers Market Share is expected to grow from estimated USD 3.75 billion in 2024 to USD 78.01 billion by 2030, at a CAGR of 65.9% during the forecast period. This growth mainly comes in response to supportive government initiatives that encourage renewable energy technologies as well as advancements in the electrolysis process. Electrolyzers play a crucial role in the production of hydrogen since they split water into hydrogen and oxygen using electricity that can be generated from renewable sources, such as solar and wind energies. As nations accelerate efforts to decarbonize and reduce the reliance on fossil fuels, electrolyzers are increasingly important in diverse applications involving power generation, transportation, or industrial processes. The recent interest in hydrogen fuel cells and green ammonia production further underlines the potential of the electrolyser market as the basis of global energy transition towards sustainable solutions.

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The global Gas Insulated Switchgear Market Share is expected to grow from estimated USD 24.93 billion in 2024 to USD 33.53 billion by 2029, at a CAGR of 6.1% during the forecast period. This is attributed to the increase in strength across the power distribution infrastructure to meet the high demand for electricity, in addition to increasing investments into renewables and industrial production. In addition, the rapid growth in the deployment of high-voltage direct current (HVDC) systems will further boost market expansion during this period.

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The global Energy as a Service Market is anticipated to grow from estimated USD 51.88 billion in 2024 to USD 100.34 billion by 2030, at a CAGR of 11.6% during the forecast period. Major forces driving the Energy as a Service Market include the increased need for energy efficiency, surging energy prices, and global trends toward carbon neutrality and sustainability. Business houses are adopting EaaS solutions in order to bring their energy usage under control and reduce operational cost as they work towards achieving compliance with regulatory mandates toward decarbonizing. Higher growth in the market can be seen through the faster integration of distributed energy resources, which are mainly solar, wind, and energy storage systems. Energy management technologies such as IoT, AI, and demand response systems also now allow real-time optimization and automation of energy. Subscription-based models with minimal upfront capital expenditures and encouraging government policies regarding renewable energy will also help boost the EaaS market significantly.

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/PRNewswire/ -- The global Smart Meter Market is anticipated to grow from estimated USD 26.36 billion in 2024 to USD 46.14 billion by 2030, at a CAGR of 9.8% during the forecast period. Utilization of electric, gas and water smart meters transformed how utility operations are conducted. The advancement of smart meters combined with sensors and control systems and communication components lets utility systems operate in real-time. These time-based tariffs allow more efficient management of electricity, gas and water distribution since they account for periods of changing customer needs and supply costs. Smart electric meters deliver accurate power consumption data through their specific time tick measurements which correspond to electricity market clock intervals. Energy providers utilize this capability to establish off-peak price plans with reduced rates which drives consumers toward off-peak energy utilization.

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/PRNewswire/ -- The global Screw Compressor Market is anticipated to grow from estimated USD 12.74 billion in 2025 to USD 16.30 billion by 2030, at a CAGR of 5.0% during the forecast period. The market is growing due to Industrialization, demand for energy-efficient solutions, and growth in the manufacturing, oil and gas, and construction industries. Strict emission regulations and the necessity for low-maintenance, high-performance compressors propel adoption. Automation and smart monitoring advancements also stimulate growth in the market.

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Delray Beach, FL, Feb. 28, 2025 (GLOBE NEWSWIRE) -- The global Heat Pump Market size is projected to grow from USD 90.1 billion in 2024 to USD 157.8 billion by 2029, at a CAGR of 11.8% according to a new report by MarketsandMarkets™. Heat Pump is a more reliable way of heating & cooling on a large scale. The versatile nature of heat pump could enable the transition to a cleaner world and a stronger global economy this is pivotal in propelling the expansion of the heat pump market. Furthermore, the global expansion of heating and cooling solutions has heightened the adoption of heat pump. The amalgamation of these systems with renewable energy contributes to their increased demand, aligning with global efforts to diminish reliance on fossil fuels and minimize carbon footprints. Government support and stringent safety regulations are pivotal factors driving the growth of the heat pump system market. Heat pumps can be integrated with renewable energy sources such as solar and wind power, enabling more sustainable and eco-friendly heating and cooling solutions, which align with the global trend towards renewable energy adoption. The heat pump market has witnessed substantial expansion recently, propelled by Stringent regulations aimed at reducing greenhouse gas emissions and promoting energy efficiency drive the adoption of heat pumps, which are more energy-efficient than traditional heating and cooling systems.