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According to a research report "Building Integrated Photovoltaic Market by Technology (c-Si (Monocrystalline, Polycrystalline), Thin Film), Application (Roofing, Facades, Externally Integrated Systems), End User (Residential, Commercial, Industrial), Region - Global Forecast to 2029" published by MarketsandMarkets.

The global Building Integrated Photovoltaic Market in terms of revenue was estimated to be worth $12.49 billion in 2024 and is poised to reach $27.41 billion by 2029, growing at a CAGR of 17.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.

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The global Blue Ammonia Market is projected to grow from USD 78 million in 2023 to USD 7,664 million by 2030, at a CAGR of 62.3% according to a new report by MarketsandMarkets™. Blue ammonia is a type of ammonia that is produced using natural gas as a feedstock, but with the carbon dioxide emissions from the production process captured and stored. This makes blue ammonia a lower-carbon alternative to traditional ammonia production, which releases large amounts of greenhouse gases into the atmosphere. Growing focus on reducing greenhouse gas emissions and increasing efforts toward empowering hydrogen economy will drive the demand for blue ammonia market.

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The global High Voltage Power Transformer Market in terms of revenue was estimated to be worth $9.1 billion in 2024 and is poised to reach $12.3 billion by 2029, growing at a CAGR of 6.3% from 2024 to 2029 according to a new report by MarketsandMarkets™.

This growth is primarily driven by the need to strengthen power distribution networks to keep up with the rising global demand for electricity. Furthermore, the market stands to gain from the increasing capacity of renewable energy sources and substantial investments in industrial production, both of which are expected to boost the demand for High voltage power transformers. Another key factor contributing to this expansion is the growing adoption of high-voltage direct current systems, which is expected to further accelerate market growth during the forecast period.

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The global Smart Meter Market Size is projected to reach USD 36.3 billion in 2028 from USD 23.1 billion in 2023 at a CAGR of 9.4% according to a new report by MarketsandMarkets™. The emergence of electric, gas, and water smart meters has revolutionized utility operations. With advancements in smart meters, sensors, control systems, and communication components, utility systems can be monitored in real-time. These dynamic tariffs promote efficient use of electricity, gas, and water by reflecting variations in demand, availability, and delivery costs over time. For instance, smart electric meters help provide a reliable reading of power consumption at specific time intervals that match electricity market intervals. This enables energy companies to create tariffs adjusted to off-peak periods with lower prices and encourages customers to adjust their consumption so that they use energy when it is cheaper.

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Nov. 14, 2024 /PRNewswire/ -- The global Shore Power Market is anticipated to grow from estimated USD 2.03 billion in 2024 to USD 3.58 billion by 2029, at a CAGR of 12.0% during the forecast period. This growth is mainly driven by a higher demand for renewals in the maritime sector in order to reduce carbon emissions from docked ships, and therefore stricter regulations by the government to protect the environment. Higher investments in port infrastructure and alternative renewable energy sources entry are also adding up to the adoption of the shore power system. Among these are automation, smart grids, and energy management systems that are deployed to optimize shore power operations by improving energy efficiency and minimizing the costs associated with its operations. These benefits have propelled shore power systems from being ecologically and economically unfeasible to become the core part of transition to cleaner and more efficient port operations everywhere around the world.

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Chicago, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global Gas Insulated Switchgear Market is expected to grow from USD 23.8 billion in 2023 to USD 31.6 billion by 2028, at a CAGR of 5.8% according to a new report by MarketsandMarkets™. The gas insulated switchgear market is poised for substantial growth during this period, primarily due to the expected strengthening of power distribution infrastructure in response to the growing demand for electricity. Furthermore, the expansion of renewable energy capacity and increased investments in industrial production are set to drive the demand for gas insulated switchgear. The market is expected to experience accelerated growth, particularly with the increasing use of high-voltage direct systems.

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The global Bifacial Solar Market in terms of revenue was estimated to be worth $18.5 billion in 2024 and is poised to reach $37.6 billion by 2029, growing at a CAGR of 15.2% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The global Bifacial Solar Market is anticipated to grow at a higher level. There are various drivers responsible for the growth of the market such as government policies and incentives and technological advancements among others. The rising global demand for energy, particularly from developing countries, pushes the need for increased bifacial solar panels exploration and production, subsequently driving the Bifacial Solar Market.

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The global Climate Adaptation Market in terms of revenue was estimated to be worth $23.2 billion in 2024 and is poised to reach $40.4 billion by 2030, growing at a CAGR of 9.7% from 2024 to 2030 according to a new report by MarketsandMarkets™. The climate adaptation market is experiencing robust growth due to several new drivers. Firstly, advancements in climate modeling and data analytics are enabling more precise predictions of climate impacts, encouraging investment in adaptation technologies. Secondly, the increasing integration of Internet of Things (IoT) and artificial intelligence (AI) in climate monitoring systems enhances real-time data collection and response capabilities. Thirdly, corporate social responsibility (CSR) initiatives are pushing companies to adopt sustainable practices, including climate adaptation strategies, to improve their public image and meet stakeholder expectations.

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The global Industrial Filtration Market is expected to reach USD 47.1billion by 2029 from USD 37.1 billion in 2024 at a CAGR of 4.9% during the forecast period according to a new report by MarketsandMarkets™. The rigorous environmental regulations imposed by governments worldwide require industries to adopt filtration solutions to mitigate pollution and ensure compliance. This regulatory pressure creates a universal demand for filtration technologies across various sectors.

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The global Green Ammonia Market in terms of revenue was estimated to be worth $0.3 billion in 2024 and is poised to reach $6.2 billion by 2030, growing at a CAGR of 66.0% from 2024 to 2030 according to a new report by MarketsandMarkets™.

Green ammonia may be produced using renewable energy sources such as wind and solar power. This integration promotes the use of excess renewable energy, which would otherwise be limited, and converts it into a reliable and transportable source of energy. This ability to store and transmit renewable energy minimizes intermittency while increasing system stability. The chemical, fertilizer, and industrial industries are under growing pressure to adopt sustainable practices and reduce their carbon footprint. Green ammonia is a possible option for these companies to produce green chemicals and fertilizers that fulfill sustainability and regulatory requirements.

Furthermore, technical advances in electrolysis, particularly in PEM (Proton Exchange Membrane) and alkaline water electrolysis, have boosted the efficiency and reduced the costs of producing green hydrogen, a critical precursor of green ammonia.

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The global Hydrogen IC Engines Market size is expected to grow from USD 12 million in 2024 to USD 327 million by 2035, at a CAGR of 34.7% according to a new report by MarketsandMarkets™. Hydrogen IC engines occupy a crucial position in the ongoing global energy transition. It serves as a vital bridge between traditional fossil fuels and emerging renewable energy sources like wind and solar power. The global hydrogen IC engines market is anticipated to grow at a higher level. There are various drivers responsible for the growth of the market such as government policies and incentives and technological advancements among others. Existing ICE technologies can be adapted to run on hydrogen with modifications, leveraging established manufacturing and maintenance infrastructure, and reducing the development costs and time compared to completely new technologies.

Hydrogen IC engines offer a promising solution for reducing carbon footprints. When hydrogen is used as a fuel, it produces water vapor as its primary emission, drastically reducing the release of carbon dioxide and other harmful pollutants compared to traditional diesel or gasoline engines. This reduction in emissions aligns perfectly with corporate sustainability initiatives aimed at decreasing the environmental impact of their operations.

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Delray Beach, FL, Oct. 30, 2024 (GLOBE NEWSWIRE) -- The global Offshore Support Vessel Market size is expected to grow from USD 25.6 billion in 2024 to USD 36.3 billion by 2029, at a CAGR of 7.2% according to a new report by MarketsandMarkets™. An offshore support vessel (OSV) is specially designed to support offshore exploration, drilling, production, and construction activities in the oil & gas industry. These vessels provide a range of services, such as transportation of personnel, equipment and supplies, maintenance and repair, and oil spill response. OSVs are also used for specialized tasks such as platform installation, decommissioning, seismic surveying, providing firefighting, towing, and positioning of drilling rigs and other offshore structures, and subsea construction. These vessels are equipped with dynamic positioning systems to maintain their position in rough seas and are built to withstand harsh offshore conditions. Different types of offshore support vessels are used in offshore oil & gas and offshore wind applications. OSVs play a crucial role in offshore oil & gas and offshore wind farms by enabling safe and efficient operations.

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/PRNewswire/ -- The global Engines Market is anticipated to grow from estimated USD 377.83 billion in 2024 to USD 477.89 billion by 2029, at a CAGR of 4.8% during the forecast period. The major factors owing to the growth of Engines Market are rising demand for fuel efficient and low emission engines. Engines are machines used in converting fuels into mechanical energy. This helps in major industries such as automotive, marine, aerospace, and power generation. The Engines Market has grown significantly due to increased demand for efficient energy solutions across industries. Engines are widely used in transportation vehicles, heavy machinery, ships, and backup power systems, providing a reliable source of power. The durability, scalability and the ability of engines to handle high loads make them essential for small as well as large scale applications.

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The global Electric Motors Market in terms of revenue was estimated to be worth $152.2 billion in 2024 and is poised to reach $206.4 billion by 2029, growing at a CAGR of 6.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. Due to the growing demand for electric motors within the global automotive, manufacturing, and renewable energy sectors, among others, the electric motor market has bloomed forth globally. All these sectors inherit demanding environments for solving problems and improving reliability. From electric vehicles to industrial machinery, consumer electronics to wind turbines, electric motors find applications in many areas. They not only ensure low energy consumption but also increase efficiency and reduce operating costs. Electric Motors Market is driven mainly by Increasing demand for HVAC systems among residential, commercial, and industrial end-users, growing demand for electric motors in manufacturing industries, and rising demand for energy-efficient motors.

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The global Energy Management Systems Market in terms of revenue was estimated to be worth $44.19 billion in 2024 and is poised to reach $84.34 billion by 2029, growing at a CAGR of 13.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. The global EMS market is mainly pushed through the increasing emphasis on power efficiency and the growing need to reduce operational prices across diverse industries. As energy expenses keep to differ and regulatory pressures accentuate, organizations are in search of advanced solutions to optimize strength intake, improve productivity, and reduce carbon emissions. EMS solutions offer actual-time monitoring, predictive analytics, and automation abilities that permit organizations to manipulate their energy utilization more efficiently, main to big cost financial savings and more advantageous sustainability. This demand for electricity efficiency is specially robust in strength-in depth sectors which includes manufacturing, utilities, and industrial actual property, wherein the implementation of EMS can result in sizeable financial and environmental advantages.

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The global Power Transformer Marketis expected to grow from an estimated USD 27.9 billion in 2024 to USD 37.7 billion by 2029, at a CAGR of 6.2% during the forecast period according to a new report by MarketsandMarkets™. This growth is primarily driven by the need to strengthen power distribution networks to keep up with the rising global demand for electricity. Furthermore, the market stands to gain from the increasing capacity of renewable energy sources and substantial investments in industrial production, both of which are expected to boost the demand for Power Transformers. Another key factor contributing to this expansion is the growing adoption of high-voltage direct current systems, which is expected to further accelerate market growth during the forecast period.

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The global Energy Efficient Motor Market is projected to reach USD 59.3 billion in 2028 from USD 41.7 billion in 2023 at a CAGR of 7.3% according to a new report by MarketsandMarkets™. An energy efficient motor is a type of electric motor that is designed to consume less electrical energy while providing the same level of output as a standard motor. Energy-efficient motors help achieve significant energy savings, reduce greenhouse gas emissions, and lower operating costs due to the longer lifespan of these motors.