#Solar Vehicle Market Analysis

[adaammarks]

Solar Vehicle Market: Ready To Fly on high Growth Trends

Market Research Forecast released a new market study on Global Solar Vehicle Market Research report which presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry validated market data. The research study provides estimates for Global Solar Vehicle Forecast till 2032. The Solar Vehicle Market size was valued at USD 383.4 USD Million in 2023 and is projected to reach USD 1389.90 USD Million by 2032, exhibiting a CAGR of 20.2 % during the forecast period. Key Players included in the Research Coverage of Solar Vehicle Market are: Sono Motors GmbH (Germany), Lightyear (Netherlands), VENTURI (Monaco), Nissan (Japan), Mahindra & Mahindra Limited (India), Toyota Motor Corporation (Japan), Ford Motor Company (U.S.), Volkswagen AG (Germany), Daimler AG (Germany), Tesla, Inc (U.S.) What's Trending in Market: Rising Adoption of Automation in Manufacturing to Drive Market Growth Market Growth Drivers: Increasing Demand for Forged Products in Power, Agriculture, Aerospace, and Defense to Drive Industry Expansion The Global Solar Vehicle Market segments and Market Data Break Down Vehicle Type: Passenger Vehicles and Commercial Vehicles","Battery Type: Lithium Ion, Lead Acid, and Others","Solar Panel: Monocrystalline and Polycrystalline GET FREE SAMPLE PDF ON Solar Vehicle MARKET To comprehend Global Solar Vehicle market dynamics in the world mainly, the worldwide Solar Vehicle market is analyzed across major global regions. MR Forecast also provides customized specific regional and country-level reports for the following areas.

• North America: United States, Canada, and Mexico. • South & Central America: Argentina, Chile, Colombia and Brazil. • Middle East & Africa: Saudi Arabia, United Arab Emirates, Israel, Turkey, Egypt and South Africa. • Europe: United Kingdom, France, Italy, Germany, Spain, Belgium, Netherlands and Russia. • Asia-Pacific: India, China, Japan, South Korea, Indonesia, Malaysia, Singapore, and Australia.

Extracts from Table of Contents Solar Vehicle Market Research Report Chapter 1 Solar Vehicle Market Overview Chapter 2 Global Economic Impact on Industry Chapter 3 Global Market Competition by Manufacturers Chapter 4 Global Revenue (Value, Volume*) by Region Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type Chapter 7 Global Market Analysis by Application ………………….continued More Reports:

https://marketresearchforecast.com/reports/car-rental-leasing-market-3007 For More Information Please Connect MR Forecast Contact US: Craig Francis (PR & Marketing Manager) Market Research Forecast Unit No. 429, Parsonage Road Edison, NJ New Jersey USA – 08837 Phone: (+1 201 565 3262, +44 161 818 8166) sales@advancemarketanalytics.com

[wealthwise93]

Lithium and Copper: The Metals That Will Shape the Future

🔋🌍 Lithium and copper are set to revolutionize the economy as the demand for electric vehicles and renewable energy soars! 🌱✨ With innovations in battery tech and sustainable materials, the future looks bright for clean energy.

In the coming years, certain metals are poised to fundamentally change the global economy—foremost among them are lithium and copper. These two raw materials are becoming increasingly indispensable for the energy and transportation industries as the world shifts towards renewable energy and electric vehicles. Lithium: The Fuel of the Energy Transition Lithium plays a central role in the…

[zvaigzdelasas]

Clean energy contributed a record 11.4tn yuan ($1.6tn [USD]) to China’s economy in 2023, accounting for all of the growth in investment and a larger share of economic growth than any other sector. The new sector-by-sector analysis for Carbon Brief, based on official figures, industry data and analyst reports, illustrates the huge surge in investment in Chinese clean energy last year – in particular, the so-called “new three” industries of solar power, electric vehicles (EVs) and batteries. Solar power, along with manufacturing capacity for solar panels, EVs and batteries, were the main focus of China’s clean-energy investments in 2023, the analysis shows.[...]

Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023.

China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey.

Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year.

Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023.[...]

The surge in clean-energy investment comes as China’s real-estate sector shrank for the second year in a row. This shift positions the clean-energy industry as a key part not only of China’s energy and climate efforts, but also of its broader economic and industrial policy.[...]

The growing importance of these new industries gives China a significant economic stake in the global transition to clean-energy technologies.[...]

In total, clean energy made up 13% of the huge volume of investment in fixed assets in China in 2023, up from 9% a year earlier.[...]

The major role that clean energy played in boosting growth in 2023 means the industry is now a key part of China’s wider economic and industrial development.[...]

Solar was the largest contributor to growth in China’s clean-technology economy in 2023. It recorded growth worth a combined 1tn yuan of new investment, goods and services, as its value grew from 1.5tn yuan in 2022 to 2.5tn yuan in 2023, an increase of 63% year-on-year. While China has dominated the manufacturing and installations of solar panels for years, the growth of the industry in 2023 was unprecedented.[...]

An estimated 200GW was added across the country during 2023 as a whole, more than doubling from the record of 87GW set in 2022[...]

China experienced a significant increase in solar product exports in 2023. It exported 56GW of solar wafers, 32GW of cells and 178GW of modules in the first 10 months of the year, up 90%, 72% and 34% year-on-year respectively [...] However, due to falling costs, the export value of these solar products only increased by 3%.

Within the overall export growth there were notable increases in China’s solar exports to countries along the “belt and road”, to southeast Asian nations and to several African countries.[...]

China installed 41GW of wind power capacity in the first 11 months of 2023, an increase of 84% year-on-year in new additions. Some 60GW of onshore wind alone was due to be added across 2023[...]

In addition, offshore wind capacity increased by 6GW across the whole of 2023.[...]

By the end of 2023, the first batch of “clean-energy bases” were expected to have been connected to the grid, contributing to the growth of onshore wind power, particularly in regions such as Inner Mongolia and other northwestern provinces. The second and third batches of clean-energy bases are set to continue driving the growth in onshore wind installations. The market is also being driven by the “repowering” of older windfarms, supported by central government policies promoting the model of replacing smaller, older turbines with larger ones.[...]

Despite technological advancements reducing costs, increases in raw material prices have resulted in lower profit margins compared to the solar industry[...]

China’s production of electric vehicles grew 36% year-on-year in 2023 to reach 9.6m units, a notable 32% of all vehicles produced in the country. The vast majority of [B]EVs produced in China are sold domestically, with sales growing strongly despite the phase-out of purchase subsidies announced in 2020 and completed at the end of 2022.[...]

Sales of [B]EVs made in China reached 9.5m units in 2023, a 38% year-on-year increase. Of this total, 8.3m were sold domestically, accounting for one-third of Chinese vehicle sales overall, while 1.2m [B]EVs were exported, a 78% year-on-year increase.[...]

China’s EV market is highly competitive, with at least 94 brands offering more than 300 models. Domestic brands account for 81% of the EV market, with BYD, Wuling, Chery, Changan and GAC among the top players.[...]

The analysis assumes that EVs accounted for all of the growth in investment in vehicle manufacturing capacity [...] while investment in conventional vehicles was stable[...]

Meanwhile, EV charging infrastructure is expanding rapidly, enabling the growth of the EV market. In 2022, more than 80% of the downtown areas of “first-tier” cities – megacities such as Beijing, Shanghai and Guangzhou – had installed charging stations, while 65% of the highway service zones nationwide provided charging points.

More than 3m new charging points were put into service during 2023, including 0.93m public and 2.45m private chargers. The accumulated total by November 2023 reached 8.6m charging points.[...]

China is rapidly scaling up electricity storage capacity. This has the potential to significantly reduce China’s reliance on coal- and gas-fired power plants to meet peaks in electricity demand and to facilitate the integration of larger amounts of variable wind and solar power into the grid. The construction of pumped hydro storage capacity increased dramatically in the last year, with capacity under construction reaching 167GW, up from 120GW a year earlier.[...]

Data from Global Energy Monitor identifies another 250GW in pre-construction stages, indicating that there is potential for the current surge in capacity to continue.

Construction of new battery manufacturing capacity was another major driver of investments, estimated at 0.3tn [yuan].[...]

Investment in electrolysers for “green” hydrogen production almost doubled year-on-year in 2023, reaching approximately 90bn yuan, based on estimates for the first half of the year from SWS Research. [...]

China’s ministry of transportation reported that investment in railway construction increased 7% in January–November 2023, implying investment of 0.8tn for the full year. This includes major investments in both passenger and freight transport. Investment in roads fell slightly, while investment in railways overall grew by 22%. The share of freight volumes transported by rail in China has increased from 7.8% in 2017 to 9.2% in 2021, thanks to the rapid development of the railway network. In 2022, some 155,000km of rail lines were in operation, of which 42,000km were high-speed. This is up from 146,000km of which 38,000km were high-speed in 2020.[...]

In 2023, 10 nuclear power units were approved in China, exceeding the anticipated rate of 6-8 units per year set by the China Nuclear Energy Association in 2020 for the second year in a row. There are 77 nuclear power units that are currently operating or under construction in China, the second-largest total in the world. The total yearly investment in 2023 was estimated for this analysis at 87bn yuan, an increase of 45% year-on-year[...]

State Grid, the government-owned operator that runs the majority of the country’s electricity transmission network, has a target to raise inter-provincial power transmission capacity to 300GW by 2025 and 370GW by 2030, from 230GW in 2021. These plans play a major role in enabling the development of clean energy bases in western China. China Electricity Council reported investments in electricity transmission at 0.5tn yuan in 2023, up 8% on year – just ahead of the level targeted by State Grid.[...]

China’s reliance on the clean-technology sectors to drive growth and achieve key economic targets boosts their economic and political importance. It could also support an accelerated energy transition. The massive investment in clean technology manufacturing capacity and exports last year means that China has a major stake in the success of clean energy in the rest of the world and in building up export markets. For example, China’s lead climate negotiator Su Wei recently highlighted that the goal of tripling renewable energy capacity globally, agreed in the COP28 UN climate summit in December, is a major benefit to China’s new energy industry. This will likely also mean that China’s efforts to finance and develop clean energy projects overseas will intensify.

Globally, China’s unprecedented clean-energy manufacturing boom has pushed down prices, with the cost of solar panels falling 42% year-on-year – a dramatic drop even compared to the historical average of around 17% per year, while battery prices fell by an even steeper 50%. This, in turn, has encouraged much faster take-up of clean-energy technologies.[...]

The clean-technology investment boom has provided a new lease of life to China’s investment-led economic model. There are new clean-energy technologies where there is scope for expansion, such as [Hydrogen] electrolysers.

Mind-blowing is the only word for it rly [25 Jan 24]

[mariacallous]

On May 14, Washington slapped new tariffs on China in what looks at first glance like the latest round of a familiar trade spat. The White House imposed duties of 25 to 50 percent on a range of industrial, medical, and clean tech goods—including semiconductors, solar cells, batteries, steel, aluminum, graphite, magnets, syringes, and ship-to-shore cranes. Strikingly, the latest measures also include a whopping 100 percent tariff on electric vehicles, effectively shutting the U.S. market to Chinese-made EVs.

Seen from Washington, these measures also look like a political move as U.S. President Joe Biden courts blue-collar voters in industrial swing states such as Michigan and Pennsylvania ahead of the November presidential election. It’s unlikely, however, that Beijing shares this benign interpretation. Seen from China, the tariffs look like a serious escalation of the U.S.-China contest and are probably raising alarm bells. Here’s why.

1. Washington is playing the long game. Stories of how China has become the world leader in EV manufacturing and is flooding the world with cheap vehicles have flourished over recent months. At the global level, there certainly is something to this analysis. Chinese exports of EVs jumped by a whopping 80 percent last year, propelling China to the top of the global ranking of car exporters. Yet this does not apply to the United States, where China supplied just 2 percent of EVs sold last year. (U.S. consumers appear to have a distinct preference for South Korean, Japanese, and European EV imports.) In other words, a 100 percent tariff on a few thousand cars will not hit Chinese firms hard.

A closer look at the list of targeted sectors suggests that batteries, not cars, will be the real pain point for China. The U.S. market is important for Chinese battery firms, which supply around 70 percent of the lithium-ion batteries used in the United States. For China’s battery sector, this means that the impact of the latest U.S. tariffs will likely be huge: The usual rule of thumb is that a 1 percentage point increase in tariffs entails a 2 percent drop in trade. With tariffs rising from 7.5 percent to 25 percent, the rule suggests that Chinese battery firms’ U.S. sales could drop by around one-third—or by $5 billion when one includes the entire battery supply chain. With Chinese battery-makers already seeing their profits plummet amid softening global demand, this is certainly bad news for Beijing.

Crucially, batteries are also an area where the U.S. government is investing huge amounts of public funds, in particular through the Inflation Reduction Act, which seeks to boost U.S. domestic production of clean tech goods. Seen in this light, the latest U.S. tariffs are preemptive measures to protect a nascent clean tech industry and make sure that there is domestic demand for future U.S. production. This suggests that the United States is playing the long game here, with little chance the tariffs will be lifted anytime soon. On the contrary—the U.S. clean tech market could well be closed to Chinese firms from here on out.

2. The White House is trying to force Europe to come on board and impose similar tariffs on China. Biden is probably seeking to score electoral brownie points with a 100 percent tariff on EVs, making former President Donald Trump’s proposal for 60 percent on U.S. imports from China look almost feeble. (Not to be outdone, Trump just announced that he would apply a 200 percent tariff on Chinese-branded cars made in Mexico.) Yet the reality is that Biden’s tariffs will not prove game-changing in the short term: Their implementation will be phased in over two years, and supply chain adjustments typically take time. In short, the measures are unlikely to fuel a U.S. industrial boom in time for the November elections.

What will happen before the election, though, is the conclusion in June or July of the European Union’s ongoing anti-subsidy investigation into China’s EV makers. Rumors abound of a possible tariff of 20 to 30 percent on Chinese EVs. Such a prospect is probably unnerving for Beijing; the EU is the biggest export market for China’s EVs, absorbing around 40 percent of Chinese shipments. The United States hopes that its 100 percent tariff on EVs will compel the EU to not only follow Washington’s example in imposing a tariff on Chinese EVs but perhaps also consider a higher one. This bold strategy could well work. Europe is unlikely to enjoy having its arm twisted by Washington, but the bloc will also worry that Chinese EV makers could double down on their push to dominate the EU market now that they have lost access to the U.S. one.

Chinese EVs look set to be a key topic when G-7 leaders meet for their annual summit in June. The United States will probably try to cajole Germany, which has long been dovish vis à vis China, into supporting sharply higher tariffs. German Chancellor Olaf Scholz has pointed to the fact that European auto manufacturers “sell a great many vehicles that are produced in Europe to China”—hinting at German fears that China could retaliate against EVs and internal combustion engine cars imported from the EU.

3. The tariffs are a serious escalation from Washington’s previous de-risking strategy. In recent years, U.S. de-risking has focused on reducing the United States’ reliance on China for crucial goods and curbing Beijing’s access to dual-use technology in a bid to avoid fueling the country’s military advances. To implement this strategy, Washington has so far relied on two main tools from its economic statecraft kit: financial sanctions (for instance, on firms linked to the People’s Liberation Army) and export controls (notably on semiconductors, which are dual-use goods found in most military equipment).

Washington is slowly realizing that these two tools are imperfect. China’s massive sanctions-proofing efforts mean that sanctions do not always deal a blow to Chinese firms, which may no longer be using the U.S. dollar (China now settles around half of its cross-border trade in renminbi) or Western financial channels such as SWIFT, the global payments system. Washington also understands that export controls on clean tech would not curb China’s ambitions in the field, as Chinese firms already have all the tech they need. This leaves only one option for U.S. economic statecraft: tariffs that leverage one of the country’s greatest economic assets—access to its market.

This is why the latest U.S. tariffs are likely raising red flags in Beijing. The United States is now severing access to its market in clean tech and other areas that China sees as crucial for its plans to become the world’s future economic superpower. If the EU plays ball, this approach would expose a central flaw in Beijing’s industrial strategy: What if the world’s two biggest markets—the United States and the EU—become no-go areas for Chinese firms dependent on exporting their vast production, leaving them with piles of unused goods? Few other markets are available for Chinese clean tech exports—outside Europe, North America, and East Asia, most countries lack the infrastructure for large-scale EV adoption, for example. This prospect may well keep Beijing’s planners up at night, with no easy solution in sight.

The question now is whether and how Beijing will react. Serious retaliation is unlikely, since the United States exports far less to China than vice versa. Given its current economic woes, China also has little interest in further weakening its economy—for example, by imposing export bans on critical raw materials, rare earths, or other crucial goods for Western economies.

As the latest skirmish in the battle for economic dominance between Washington and Beijing, the new U.S. tariffs raise a number of bigger questions: Will Washington succeed in its efforts to create a domestic ecosystem for clean tech? Will the United States and Europe manage to cooperate—or go their own ways in their economic relations with China? Will the United States continue to curb Chinese access to the U.S. market for the purposes of de-risking—and if so, in which sectors? There is probably only one certainty in the U.S.-China economic war: The conflict will continue well after the November elections, whatever their outcome.

[rjzimmerman]

Why Oil Companies Are Walking Back From Green Energy. (New York Times)

Excerpt from this New York Times story:

When oil and gas companies made ambitious commitments four years ago to curb emissions and transition to renewable energy, their businesses were in free fall.

Demand for the fuels was drying up as the pandemic took hold. Prices plunged. And large Western oil companies were hemorrhaging money, with losses topping $100 billion, according to the energy consulting firm Wood Mackenzie.

Renewable energy, it seemed to many companies and investors at the time, was not just cleaner — it was a better business than oil and gas.

“Investors were focused on what I would say was the prevailing narrative around it’s all moving to wind and solar,” Darren Woods, Exxon Mobil’s chief executive, said in an interview with The New York Times last week at a United Nations climate conference in Baku, Azerbaijan. “I had a lot of pressure to get into the wind and solar business,” he added.

Mr. Woods resisted, reasoning that Exxon did not have expertise in those areas. Instead, the company invested in areas like hydrogen and lithium extraction that are more akin to its traditional business.

Wall Street has rewarded the company for those bets. The company’s stock price has climbed more than 70 percent since the end of 2019, lifting its market valuation to a record of nearly $560 billion in October, though it has since fallen to about $524 billion.

The American oil giant’s performance stands in contrast with BP and Shell, oil and gas companies based in London that embraced wind, solar and other technologies like electric-vehicle charging. BP’s stock has fallen around 19 percent in that time, based on trading in London, while Shell’s has climbed about 15 percent.

The market’s renewed acceptance of fossil fuels underscores one of the core challenges of curbing global emissions: Climate change poses risks that compound over decades. Scientists say every fraction of a degree of warming caused by fossil fuels brings greater risks from deadly heat waves, wildfires, drought, storms and species extinction. But investors are focused on making money over months and years.

“If we want to combat climate change, we need to make it in the firms’ and consumers’ self-interest to produce and buy the low-carbon alternatives,” said Christopher Knittel, a professor of energy economics at the Massachusetts Institute of Technology.

The election of Donald J. Trump, who has falsely described global warming as a hoax, has led to even greater optimism about the oil and gas business.

The difference in profits that companies can make from extracting oil and gas and what they can earn from harnessing wind and solar had already swung sharply in favor of fossil fuels in recent years.

The median return on capital among some of the world’s biggest investor-owned oil companies, a key measure of profitability, topped 11 percent last year, up from negative 8 percent in 2020, according to an analysis by S&P Global Commodity Insights. The median return over that same period for the top renewable energy companies has stayed around 2 percent.

[sagarg889]

Sirens Market Research by Key players, Type and Application, Future Growth Forecast 2022 to 2032

In 2022, the global sirens market is expected to be worth US$ 170.1 million. The siren market is expected to reach US$ 244.0 million by 2032, growing at a 3.7% CAGR.

The use of sirens is expected to increase, whether for announcements or on emergency vehicles such as ambulances, police cars, and fire trucks. A siren is a loud warning system that alerts people to potentially dangerous situations as they happen.

Rapidly increasing threats and accidents have resulted in more casualties and missed business opportunities in developing economies. Demand for sirens is expected to rise during the forecast period as more people use security solutions.

As a result of rising threats and accidents in developing economies, the number of victims and lost business opportunities has rapidly increased. Adopting security solutions, such as sirens, is an effective way to deal with these challenges. Long-range sirens are used in mining and industrial applications, whereas motorised sirens are used in home security. Hand-operated sirens are used when there is no power or when a backup is required.

Some additional features of sirens include a solar panel upgrade system to keep the batteries charged and a number of digital communication methods, including Ethernet, satellite, IP, fiber optic and others. Sirens have conformal coatings on their electronics, which help protect them against harsh environments. Some of the systems are made in such a way that they can be expanded or scaled depending on future capabilities.

Omni-directional sirens can be used in areas of high noise levels and those with large population densities as they provide a greater area of coverage. Sirens have external controls with triggers, which can be customized according to needs. The lightening types of sirens include bulb revolving, LED flashing and xenon lamp strobe. The loud speakers in sirens are adopted from latest piezoelectric ceramic technology.

Get a Sample Copy of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4274

Other sirens are hydraulic or air driven and mostly find applications in plants and factories. Lithium batteries have replaced alkaline batteries in sirens now, since lithium batteries need not be replaced for several years. Modern sirens use latest technologies and find applications in civil defense, emergency vehicles, security systems and others. Typically, sirens are made of stainless steel, aluminum or UV stabilized polycarbonate to avoid corrosion and are equipped with protection cages. An LED flashing siren has a light source with a semi-permanent lifespan and it is used in places where bulb replacement is a problem.

Region-wise Outlook

In the global sirens market, the dominant share is held by the U.S., India, China, Japan, Australia, Germany, Singapore and the UAE. This can be attributed to the demand for security solutions in developed as well as developing economies.

The regional analysis includes:

North America (U.S., Canada)

Latin America (Mexico. Brazil)

Western Europe (Germany, Italy, France, U.K, Spain)

Eastern Europe (Poland, Russia)

Asia-Pacific (China, India, ASEAN, Australia & New Zealand)

Japan

The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Market Participants

Some of the key market participants identified in the global siren market are Acoustic Technology Inc., Sentry Siren Inc., MA Safety Signal Co. Ltd, Whelen Engineering Co. Inc., Federal Signal Corporation, B & M Siren Manufacturing Co., Projects Unlimited Inc., Phoenix Contact, Mallory Sonalert Products and Qlight USA Inc.

Rising population and rapid urbanization have led to an increase in demand for security solutions. The need for implementation of security has paved way for the use of electronic equipment on a large scale globally, which in turn has created opportunities for the global sirens market. As these products are durable with a high voltage capacity and easy to install, they find high selling propositions. Characteristics and properties of electronic and pneumatic equipment play a vital role in security solutions, thereby driving the global sirens market with a rise in diverse end-user applications, such as industrial warning systems, community warning systems, campus alert systems and military mass warning systems.

Report Highlights:

Detailed overview of parent market

Changing market dynamics in the industry

In-depth Polishing / Lapping Film market segmentation

Historical, current and projected market size in terms of volume and value

Recent industry trends and developments

Competitive landscape

Strategies of key players and products offered

Potential and niche segments, geographical regions exhibiting promising growth

A neutral perspective on market performance

Must-have information for market players to sustain and enhance their market footprint.

Browse Detailed Summary of Research Report with TOC @ https://www.futuremarketinsights.com/reports/sirens-market

Key Segments

Product Type:

Electronic

Electro-mechanical

Rotating

Single/dual toned

Omnidirectional

By Application:

Civil defense

Industrial signaling

Emergency vehicles

Home/vehicle safety

Security/warning systems

Military use

Others

By Installation Type:

Wall mounting

Self-standing

Water proof connector

By Regions:

North America

Europe

Asia Pacific

Latin America

MEA

[industrynewsupdates]

Permanent Magnets Market Size, Share And Trends Analysis Report 2024 - 2030

The global permanent magnets market was valued at USD 22.18 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2030. One of the key factors driving this growth is the increasing focus on renewable energy sources, such as wind and solar energy. Permanent magnets play a crucial role in enhancing the efficiency of wind turbine generators, which is contributing to the market's positive trajectory. Specifically, rare earth magnets, such as Neodymium Ferrite Boron (NdFeB), are being extensively used in wind turbines due to their ability to increase the reliability of turbines while also reducing maintenance costs. This, in turn, is expected to fuel the demand for permanent magnets in the renewable energy sector throughout the forecast period.

In the U.S., the permanent magnet market is expected to grow at a faster rate compared to its ferrite magnet counterpart, driven by their widespread use in high-tech applications. These include sectors such as robotics, wearable devices, electric vehicles (EVs), and wind power. The automotive industry in the U.S. has experienced steady growth since the economic downturn of 2008-09. A key trend contributing to this growth is the rising adoption of plug-in electric cars, which is largely driven by the advanced technology and high-performance electric vehicles offered by leading manufacturers like Tesla, Chevy, Nissan, Ford, Audi, and BMW. Tesla, for example, was one of the first electric carmakers to integrate neodymium magnets into its electric motors, starting in early 2018. This shift toward using high-performance magnets in electric vehicle motors is expected to significantly drive the demand for permanent magnets in the U.S. market.

Overall, the growing applications in energy and transportation sectors, combined with the advancements in technology, are expected to accelerate the adoption of permanent magnets, boosting market growth globally, particularly in the U.S.

Gather more insights about the market drivers, restrains and growth of the Permanent Magnets Market

Regional Insights

Asia Pacific

In 2023, the Asia Pacific region dominated the global permanent magnets market, accounting for nearly 75.0% of the total revenue. This region is considered the manufacturing hub of the world, with countries like China, Japan, and South Korea playing a pivotal role in the production of a wide range of products, including automotive and electronic devices. These countries have become significant centers for the production of computer hardware devices, such as hard disks, computer chips, and microprocessors, all of which heavily rely on permanent magnets for their functionality. As a result, the demand for permanent magnets continues to grow, driven by the electronics and hardware manufacturing industries in the region.

Europe 

Europe is projected to become the second-largest regional market by 2030, although it faced challenges in recent years. The region saw a significant decline in industrial production in 2020, mainly due to the economic slowdown and political uncertainties, including Brexit. Additionally, the economic downturn was exacerbated by the COVID-19 pandemic, which led to widespread lockdowns and disrupted supply chains. However, as the economy recovers, Europe is expected to regain its growth momentum, bolstered by innovations and a focus on green energy and sustainability.

North America

North America accounted for a notable market share in 2023, although the COVID-19 pandemic had a severe impact on the region's supply chains. According to the International Monetary Fund, North America's GDP contracted by around 7% in 2020, reflecting a significant downturn in the output of key industries, including automotive & transportation, electrical & electronics, and aerospace & defense. However, with the resumption of economic activities post-pandemic, the demand for permanent magnets, particularly in electric vehicles and renewable energy sectors, is expected to rise.

Middle East & Africa

The Middle East & Africa region saw a decline in its market revenue in 2023, mainly due to the economic pressures exacerbated by the pandemic. In 2020, the region’s GDP contracted by approximately 4.2%, with Gulf countries particularly affected by rising deflationary pressures. Despite this, the demand for permanent magnets in the region is expected to gradually recover as economic conditions stabilize and industrial activities resume.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global chemical mechanical planarization market size was estimated at USD 6.01 billion in 2023 and is anticipated to grow at a CAGR of 7.2% from 2024 to 2030.

• The global aluminum wire market size was estimated at USD 31.95 billion in 2023 and is projected to grow at a CAGR of 6.1% from 2024 to 2030.

Key Companies & Market Share Insights

The permanent magnets market is highly competitive, with several prominent companies operating globally. Some of the key players include:

1. Hitachi Metals Ltd.: This company operates across three main business segments—automotive-related products, electronics-related products, and infrastructure-related products. Hitachi Metals offers a broad portfolio of products, including cutting tools, molding materials, exhaust components, magnets, LCD displays, semiconductors, medical equipment, and more. Its diverse range of products contributes to its strong position in the market.

2. Shin-Etsu Chemical Co., Ltd.: A major player in the industry, Shin-Etsu operates through several business segments, including PVC, silicones, specialty chemicals, semiconductor silicon, and electronics & functional materials. The company’s diverse product range, particularly in the materials used for semiconductor manufacturing, positions it well within the permanent magnets sector.

3. Ningbo Yunsheng Co., Ltd.: This company specializes in developing and manufacturing sintered and bonded NdFeB, AlNiCo, and SmCo magnets, as well as magnetic assemblies and electric motor products. It also focuses on research and management in sectors such as automobile motors, smart technology, and neodymium magnets.

Emerging Market Participants:

1. Earth-Panda Advance Magnetic Material Co., Ltd.: This company manufactures a wide range of permanent and flexible magnets, including ceramic and ferrite magnets. Its product portfolio includes items like extruded magnet strips, rubber magnet sheets/rolls, magnetic products, and magnetic toys. The company caters to various sectors, including electric motor seals, refrigerator seals, and office automation magnets.

2. Ninggang Permanent Magnetic Materials Co., Ltd.: Established in 2003 and based in Ningbo, China, this company produces sintered SmCo materials, rubber magnets, plastic injection magnets, bonded NdFeB magnets, and ferrite magnets. It is known for its advanced production technologies and strict quality control systems, which help ensure the delivery of high-quality permanent magnets in various shapes to meet industry demands.

Key Permanent Magnets Companies:

• Adams Magnetic Products Co.

• Earth-Panda Advance Magnetic Material Co., Ltd.

• Arnold Magnetic Technologies

• Daido Steel Co., Ltd.

• Eclipse Magnetics Ltd.

• Electron Energy Corp.

• Goudsmit Magnetics Group

• Hangzhou Permanent Magnet Group

• Magnequench International, LLC

• Ningbo Yunsheng Co., Ltd.

• Ninggang Permanent Magnetic Materials Co., Ltd.

• Shin-Etsu Chemical Co., Ltd.

• TDK Corporation

• Thomas & Skinner, Inc.

• Vacuumschmelze GMBH & Co. Kg

• Ugimag Korea Co., Ltd.

• SsangYong Materials Corp.

• Pacific Metals Co., Ltd.

Order a free sample PDF of the Permanent Magnets Market Intelligence Study, published by Grand View Research.

[jayanthitbrc]

On-Grid Solar PV Market Forecast: Innovations Shaping Market Growth and Demand

The on-grid solar pv global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

On-Grid Solar PV Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The on-grid solar PV market size has grown strongly in recent years. It will grow from $160.26 billion in 2023 to $170.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to energy security and independence, electricity demand growth, public awareness and acceptance, environmental awareness and climate change concerns, financial institutions and funding.

The on-grid solar PV market size is expected to see strong growth in the next few years. It will grow to $208.96 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to advancements in energy storage technologies, digitalization and IoT, decentralization of energy systems, hybrid renewable energy systems, electric vehicle (EV) integration. Major trends in the forecast period include increased capacity and scale, innovative materials and design, flexible and transparent financing models, advancements in energy storage technologies, smart grid integration.

Order your report now for swift delivery @ https://www.thebusinessresearchcompany.com/report/on-grid-solar-pv-global-market-report

Scope Of On-Grid Solar PV Market The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

On-Grid Solar PV Market Overview

Market Drivers - The rising demand for renewable energy is expected to propel the growth of the on-grid solar PV market going forward. Renewable energy refers to sustainable and environmentally friendly sources of power, such as solar, wind, hydro, and geothermal, that are naturally replenished. The increasing public awareness towards environmental issues and a growing desire for sustainable living contribute to the demand for on-grid solar PV systems. It plays a significant role in the production of renewable energy by producing power using solar panels and supplying it straight to the grid. This helps in reducing the vulnerability of the grid to centralized disruptions, improving overall grid reliability. For instance, in January 2024, according to the International Energy Agency, a France-based government agency, renewable electricity capacity additions reached an estimated 507 GW in 2023, almost 50% higher than in 2022, with solar PV and wind accounting for a record 96% of it. Therefore, the rising demand for renewable energy is driving the growth of the on-grid solar PV market.

Market Trends - Major companies operating in the on-grid solar PV market are developing innovative products with advanced technologies, such as on-grid PV (photovoltaic) inverters, to drive their revenues in the market. An on-grid PV inverter is an essential part of a solar energy system that transforms a photovoltaic solar array's variable direct current (DC) output into alternating current (AC) electricity that may be supplied straight into the electrical grid. For instance, in June 2022, V-Guard Industries Ltd., an India-based electricals and home appliances manufacturer, launched Solsmart solar rooftop power system, which consists of On-Grid solar power inverters designed for residential and commercial applications. The Solsmart On-Grid Inverter has an efficiency of 98.4%, making it a cost-effective alternative for users aiming to reduce electricity bills. It has integrated DC switches that offer additional safety benefits, ensuring safer installation and operation. The Solsmart On-Grid solar inverter can perform within an ambient temperature range of -25°C and 60°C.

The on-grid solar PV market covered in this report is segmented –

1) By Technology: Monocrystalline Silicon, Thin Film, Polycrystalline Silicon, Other Technologies 2) By Installation: Ground Mounted, Rooftop, Other Installations 3) By Application: Residential, Non-Residential, Utilities

Get an inside scoop of the on-grid solar pv market, Request now for Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=14148&type=smp

Regional Insights - Asia-Pacific was the largest region in the on-grid solar PV market in 2023. The regions covered in the on-grid solar pv market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Major companies operating in the on-grid solar PV market are Huawei Technologies Co. Ltd., L&T Electrical & Automation Ltd., Siemens AG, Schneider Electric SE, ABB Ltd., JA SOLAR Technology Co. Ltd., LONGi Green Energy Technology Co. Ltd., Delta Electronics Inc., Trina Solar Limited, JinkoSolar Holding Co. Ltd., Canadian Solar Inc., Omron Corporation, Chint Group Corp., Sungrow Power Supply Co. Ltd., Risen Energy Co. Ltd., SolarEdge Technologies Inc., First Solar Inc., Havells India Ltd., SunPower Corp., SMA Solar Technology AG, GoodWe (Jiangsu) Power Supply Technology Co. Ltd., Enphase Energy Inc., Ginlong (Solis) Technologies, Motech Industries Inc., Indosolar Ltd., Loom Solar Pvt. Ltd., FIMER S.p.A., GCL System Integration Technology Co. Ltd.

Table of Contents 1. Executive Summary 2. On-Grid Solar PV Market Report Structure 3. On-Grid Solar PV Market Trends And Strategies 4. On-Grid Solar PV Market – Macro Economic Scenario 5. On-Grid Solar PV Market Size And Growth ….. 27. On-Grid Solar PV Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

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[energyandpowertrends]

Reed Relay Market: Role in Enhancing Performance in Test Equipment and Telecommunications

The Reed Relay Market size was valued at USD 406.1 million in 2023 and is expected to grow to USD 1508.43 million by 2032 and grow at a CAGR of 15.7% over the forecast period of 2024–2032.

Market Overview

Reed relays consist of a pair of ferromagnetic reeds sealed in a glass envelope. When an electrical current flows through a coil, it generates a magnetic field that causes the reeds to come together and complete the circuit. This technology has found applications in a wide range of industries, from household appliances to advanced industrial systems, owing to its reliability and efficiency.

As industries increasingly focus on automation and miniaturization, the demand for reed relays is expected to rise significantly. With advancements in materials and manufacturing processes, reed relays are being designed to operate at higher voltages and in more demanding environments.

Key Market Drivers

Increasing Demand for Automation: The trend towards automation in various sectors, including manufacturing and automotive, is driving the need for reliable switching devices like reed relays.

Growth of Renewable Energy: The expansion of renewable energy systems, such as solar and wind, is boosting the demand for reed relays in control and monitoring applications.

Rising Electric Vehicle (EV) Adoption: The growing popularity of electric vehicles is creating a new market for reed relays in automotive applications, particularly in battery management systems.

Technological Advancements: Innovations in reed relay technology are enabling higher performance, longer life, and greater efficiency, making them more attractive to manufacturers.

Focus on Miniaturization: As electronic devices continue to shrink in size, the compact design of reed relays makes them ideal for a variety of applications.

Market Segmentation

The reed relay market can be segmented by type, voltage, application, and region.

By Type

Reed Relay in Single-In-Line (SIL) Package: These relays are popular for their compact size and ease of integration into printed circuit boards (PCBs).

Reed Relay in Dual-In-Line (DIP) Package: Offering more robust connections, DIP packages are widely used in various applications where space is less of a constraint.

Others: This category includes various custom and specialized relay packages designed for specific applications.

By Voltage

Basic 200 V: Commonly used in low-voltage applications.

200 V-500 V: Suitable for a wide range of industrial applications.

500 V-1 kV: Increasingly used in test and measurement equipment.

1 kV-7.5 kV: Ideal for more demanding industrial and automotive applications.

7.5 kV-10 kV and Above 10 kV: Used in high-voltage applications, including power distribution and renewable energy systems.

By Application

Household Appliances: Reed relays are commonly used in appliances for reliable switching.

Test Measurement: Used in various measurement and testing equipment for precise control.

Mining: Employed in harsh environments for reliable performance.

Automotive: Integral to battery management systems and other vehicle applications.

Industrial: Widely used in automation and control systems.

EV: Increasingly used in electric vehicles for various applications.

Renewables: Key components in solar inverters and wind turbine systems.

Medical: Employed in medical devices for safety and reliability.

Others: This segment includes applications in telecommunications, aerospace, and other fields.

Regional Analysis

North America: The U.S. and Canada are significant markets due to advanced technological infrastructure and a focus on innovation.

Europe: Countries in Europe are investing heavily in renewable energy and electric vehicle technologies, boosting demand for reed relays.

Asia-Pacific: Rapid industrialization and the growing electronics market in countries like China and India are expected to drive significant growth in this region.

Latin America: The growing demand for automation in various sectors is propelling the reed relay market in this region.

Middle East & Africa: Investments in industrial infrastructure and renewable energy projects are creating opportunities for reed relay manufacturers.

Current Market Trends

Technological Innovations: Manufacturers are focusing on developing high-performance reed relays capable of withstanding extreme conditions.

Integration with Smart Technologies: The integration of reed relays with IoT devices is enhancing their functionality and application scope.

Sustainability Initiatives: Companies are increasingly prioritizing eco-friendly manufacturing practices, leading to a demand for green technologies in reed relay production.

Retrofitting Existing Systems: Industries are retrofitting existing equipment with advanced reed relay solutions to improve efficiency and performance.

Increasing Focus on Research and Development: Manufacturers are investing in R&D to explore new materials and technologies for improved reliability and performance.

Key Players:

Siemens AG

General Electric

ABB

Pickering Electronic Ltd

Standex Electronics Inc.

Schneider Electric

Toward Relays

Conclusion

The global reed relay market is set to grow significantly in the coming years, driven by the increasing demand for automation, renewable energy integration, and technological advancements. As industries seek reliable and efficient switching solutions, reed relays will play a crucial role in various applications, from household appliances to advanced industrial systems.

Read Complete Report Details of Reed Relay Market: https://www.snsinsider.com/reports/reed-relay-market-2934

About Us:

SNS Insider is a global leader in market research and consulting, shaping the future of the industry. Our mission is to empower clients with the insights they need to thrive in dynamic environments. Utilizing advanced methodologies such as surveys, video interviews, and focus groups, we provide up-to-date, accurate market intelligence and consumer insights, ensuring you make confident, informed decisions.

Contact Us: Akash Anand — Head of Business Development & Strategy info@snsinsider.com Phone: +1–415–230–0044 (US) | +91–7798602273 (IND)

[alwaysonelectrical]

Energy Innovations - Innovations in Infrastructure, Technology, Resources and Energy

We're a global specialist across sectors such as infrastructure, technology, resources and energy innovations Lake Macquarie. Our people share their ideas, analysis and capabilities.

Allambi Care and Lake Macquarie Council have partnered up to power-up their operations using solar panels. They're one of a number of local organisations joining Council in the Cities Power Partnership, which has more than 170 members.

1. Electric Vehicle Charging Strategy

With electric vehicles (EVs) gaining traction in Australia and worldwide, Lake Macquarie City Council required strategic, technical, and business model input for the development of its EV charging infrastructure strategy.

The City currently operates seven EV chargers across the city including sites at Redhead, Charlestown, Morisset, Dudley and the Speers Point administration building. These 22 kilowatt chargers are installed on power poles and are connected directly to the overhead electricity supply, with energy use matched with 100% accredited GreenPower.

The EV chargers are designed to charge most EV models to 80 per cent capacity in four hours. Using intelligent software, the chargers will determine the best time to recharge for each vehicle. Fleet operators, such as bus depots and logistics centers, can schedule EV charging according to the required range and departure times of each vehicle.

2. Smart Metering

The rollout of smart meters gives customers real-time access to their energy data, empowering them to make choices and changes that reduce their electricity consumption and bills. This is an essential enabler of more efficient energy networks, helping the UK meet its carbon targets2.

Smart meters are connected to a national communications network from the outset, making them compatible with all energy suppliers from day one. However, many early-generation meters were installed with the energy supplier’s own communication systems, which means customers will lose some smart functionality if they switch provider.

Deployment constitutes a significant component of the overall cost of a smart transformation program. A dedicated deployment operations capability is essential to define a clear and appropriate deployment strategy that aligns to the achievement of strategic objectives. This enables the identification and rectification of bottlenecks, continuous improvement through customer feedback and the implementation of innovative solutions to improve deployment efficiency. Ultimately, this leads to the delivery of quality outcomes for the program.

3. Energy Efficiency

Energy innovations drive global sustainability goals, including reducing greenhouse gas emissions and enabling the transition to renewable and sustainable energy. Leading forms of green energy innovation include advancements in solar photovoltaic technology, improved battery storage capabilities and smart grids.

A local not for profit community organisation has joined forces with Lake Macquarie City Council and Pingala, a member-owned solar cooperative, to bring the Hunter region’s first community-funded renewable energy project to life. The Allambi Care solar project allows the community to fund a solar system at the organisation’s Charlestown headquarters, with returns of 5 to 8 per cent p.a.

The community-funded project will help Allambi Care save on electricity costs and reduce its environmental footprint by generating its own clean energy through a rooftop solar panel installation in Lake Macquarie and Newcastle. The system will be connected to Ausgrid’s electricity network and provide an onsite, renewable energy source that will be used to offset the City’s remaining carbon emissions from other sources.

4. Energy Storage

The cost of solar and energy storage is falling fast. In China, the world’s biggest power market, there are plans to double ESS capacity over the next five years.

Lake Macquarie City Council is an early adopter of onsite generation with 15 of its buildings now having solar power installed. This enables the business to save on electricity costs and reduce its impact on the environment.

In partnership with Allambi Care, the City is launching its first community-funded renewable energy project – Pingala. It invites local community members to invest in solar power for Allambi Care and receive a return on their investment of between 5 and 8 per cent a year.

Eku Energy, a Macquarie Asset Management portfolio company, develops, builds and actively manages energy storage assets to enable reliable, clean electricity supplies. The team uses a combination of local partnerships and a data-driven understanding of global financial and energy markets to find the right investment solutions for its projects.

[shubhampawrainfinium]

Bearing the Load: Top Bearings for High-Demand Industries

The report on the global bearings market provides a comprehensive analysis of the market segments and sub-segments, offering insights into both global and regional market trends from 2015 to 2023. According to the report, the global bearings market is expected to grow at a compound annual growth rate (CAGR) of 5.5% over the forecast period of 2023 to 2030, with the market projected to reach an estimated value of USD 55 billion by 2030.

What are Bearings?

Bearings are mechanical components used to reduce friction between moving parts and support the load, ensuring smooth and efficient movement. Bearings are widely used in a variety of industries, including automotive, aerospace, manufacturing, and industrial machinery. They come in various types, including ball bearings, roller bearings, and fluid bearings, each suited for specific applications requiring load support and motion control.

Get Sample pages of Report: https://www.infiniumglobalresearch.com/reports/sample-request/876

Market Drivers and Growth Factors

Several factors are contributing to the growth of the bearings market:

Rising Demand in Automotive Industry: Bearings are essential components in vehicles, ensuring smooth operation of various moving parts such as wheels, engines, and transmissions. As the automotive sector continues to grow, the demand for high-performance bearings rises, particularly in electric vehicles (EVs) and autonomous vehicles.

Growth in Industrial Manufacturing: Industrial machinery and manufacturing applications require reliable bearings for efficient operation. The expansion of the manufacturing industry, especially in emerging markets, boosts the demand for bearings in machinery, robotics, and production lines.

Technological Advancements: Continuous innovations in bearing materials and designs, such as ceramic and hybrid bearings, offer higher performance, durability, and resistance to wear and tear, driving their adoption across industries.

Demand from Renewable Energy Sector: Bearings are increasingly used in renewable energy systems such as wind turbines and solar tracking systems, where reliability and low maintenance are critical to system performance.

Regional Analysis

North America: North America is a key market for bearings, driven by the demand from the automotive, aerospace, and industrial machinery sectors. The U.S. is the largest contributor, with major manufacturers and strong industrial bases.

Europe: Europe remains a significant market due to the presence of key automotive manufacturers and a robust manufacturing industry. Germany, France, and the UK are the leading countries in the region, driving the demand for advanced bearing solutions.

Asia-Pacific: The Asia-Pacific region is expected to see the highest growth in the bearings market. This is mainly driven by the rapid industrialization in countries like China, India, and Japan, as well as the increasing demand for bearings in automotive and machinery sectors.

Rest of the World: The Middle East, Latin America, and Africa are gradually increasing their adoption of bearings, mainly driven by infrastructure development and expanding industrial sectors in these regions.

Competitive Landscape

The global bearings market is competitive, with key players focusing on product innovation, technological advancements, and expanding their market presence:

SKF Group: SKF is a leading global player known for its extensive portfolio of high-quality bearings used across various industries, including automotive, aerospace, and energy.

Schaeffler Group: Schaeffler is a prominent player providing a wide range of bearings, with a strong focus on high-precision and energy-efficient bearing solutions.

NSK Ltd.: NSK specializes in automotive, industrial, and aerospace bearings, focusing on advanced technologies to improve product performance and reliability.

Timken Company: Timken manufactures bearings for multiple applications, with a focus on high-performance bearings for demanding environments, including heavy machinery and energy sectors.

JTEKT Corporation: JTEKT offers bearings for diverse industries, including automotive and industrial applications, with a strong emphasis on product innovation and sustainability.

Report Overview : https://www.infiniumglobalresearch.com/reports/global-bearings-market

Challenges and Opportunities

Challenges:

Price Volatility of Raw Materials: Bearings are often made from high-quality steel and other materials whose prices can fluctuate, impacting the production costs and pricing of bearings.

Competition from Low-Cost Manufacturers: Low-cost manufacturers, especially from emerging economies, pose a challenge for premium bearing manufacturers due to the price sensitivity of certain markets.

Environmental Concerns: Increased focus on sustainability and energy efficiency may push manufacturers to develop eco-friendly and recyclable bearing solutions, which requires additional investment in R&D.

Opportunities:

Electric Vehicles (EVs): The rapid growth of the EV market presents significant opportunities for bearings, especially in areas like motor assemblies, transmissions, and wheel hubs.

Emerging Markets: Rapid industrialization in countries like China, India, and Brazil is creating new opportunities for bearings in manufacturing, construction, and automotive sectors.

Smart Bearings: The development of smart bearings, which include sensors for real-time monitoring and predictive maintenance, presents an exciting opportunity to enhance performance and efficiency.

Conclusion

The global bearings market is expected to continue its growth trajectory, driven by the expanding automotive, industrial manufacturing, and renewable energy sectors. With a projected CAGR of 5.5%, the market is poised to reach USD 55 billion by 2030. Technological advancements, particularly in the automotive and energy industries, and the increasing demand for high-performance bearings, will continue to shape the market's future. As industries grow and evolve, bearings will remain crucial components for ensuring operational efficiency and reliability.

[industryinsightsandanalysis]

Thin-Film Encapsulation Market: Current Analysis and Forecast (2024-2032)

According to the Univdatos Market Insights analysis, growing demand for flexible OLED displays and electronics, which require advanced protection from moisture and oxygen to ensure durability & performance would drive the global scenario of the Thin-Film Encapsulation market. As per their “Thin-Film Encapsulation Market” report, the global market was valued at USD 121.3 Million in 2023, growing at a CAGR of 15.7% during the forecast period from 2024 - 2032.   

The major factors that has been even fuelling the growth of the Thin-Film Encapsulation (TFE) market are the rising use of flexible OLED displays in portable devices including the smartphones, tablets, and wearable devices. Despite attempting to develop thinner, lighter and stronger components, thin film electroluminescence or TFE has been deemed important to guard against elements such as moisture and oxygen that could otherwise affect the efficiency and lifespan of these sensitive electronics. With major manufacturers including Samsung and Huawei now incorporating foldable phones to their portfolios and OLED technology gaining growing acceptance for premium TVs and smartwatches, the demand for accurate encapsulation solutions has been boosted even more. The constant advancements of wearables such as health and fitness trackers also prop the market forward, as such technologies need flexibility and resilience, both of which TFE provides. TFE is not limited to consumer electronics’ applications; the renewable energy market is a recent domain that applies TFE for thin-film photovoltaic solar cells, where its function is the protection of solar cells from degradation trough environmental impacts, thus enhancing PV performance. Also, the growth of OLED lighting and displays in automotive vehicles is increasing the application of TFE even more since manufacturers are in constant search of perfect and efficient solutions. Such trends along with the continuous advancement in technology and the increasing focus on flexible and foldable electronic devices shall keep the TFE market moving forward.

Thin-Film Encapsulation Overview in APAC

The Asia-Pacific is the largest and fastest growing market for Thin-Film Encapsulation due to the region’s high concentration and growth rate in the electronics and display industries. APAC is indeed the global leader in OLED including the major players of OLED displays and the market for organic electronics is boasting a steady growth. South Korea, Japan, Taiwan and China are some of the countries of significant importance in this environment.

Key Drivers in APAC:

Presence of Leading OLED Manufacturers: The major player in the OLED market is Samsung from South Korea and Sony and Panasonic from Japan. These companies have been going all out in the investment on the TFE technology in a bid to improve on the durability and flexibility of their display related technologies.

Technological Advancements: Additional differentiation in flexible and foldable displays along with the TFE material that is used to defend the organic layer is driving growth in the region. Being a popular hub for MOCVD, R&D for other related advanced deposition technologies such as PECVD and ALD has also emerged in the APAC region.

Rising Consumer Electronics Market: APAC is the global largest consumer electronics market attributed by the high demand of the Smartphone, wearable devices, tablets, and TVs. Thus, the increasing incorporation of OLED displays in the mentioned products puts TFE at the center of product durability.

Government Support and Investment: A lot of attention has been paid to the development of electronics and semiconductors industry as the Chinese and South Korean markets push for the advancement of encapsulation technologies.

Emerging Organic Electronics: APAC is witnessing increasing demand for organic electronics like OPVs and OTFTs where TFE has a key role in boosting its functionality and sturdiness.

Access sample report (including graphs, charts, and figures): https://univdatos.com/get-a-free-sample-form-php/?product_id=66366

Thin-Film Encapsulation Market in China

Especially, China, which owns vast investments in OLED manufacturing as well as becoming more significant in the display and semiconductor industry, have a large impact on the Thin-Film Encapsulation market. China also has the objective to dominate the OLED display market in the coming future, and going by this prospect then the Country is well positioned in the TFE industry.

Key Market Insights for China:

Rapid Expansion of OLED Manufacturing: It has been observed that companies in China are increasing productions such as BOE Technology and TCL, which are some of the reasons behind the growing need for TFE technology. Among these players, BOE, has reported impressive progresses in both flexible and foldable OLED displays.

Government Incentives: China’s government continues to pour a lot of capital into display and semiconductor industries as strategies under Made in China 2025 program. This include providing for high tech product such as OLED display that have a direct knock on effect on the consumption of TFE.

Focus on Flexible Displays: Flexible and foldable OLED displays are also prominent a technology which is widely adopted by firms in China; in this process, TFE is crucial in creating a barrier against moisture and oxygen.

Cost-Effective Manufacturing: Furthermore, China has remained strong in the electronics supply chain hence its capability of manufacturing OLED and flexible electronics at cheaper prices makes it a global competitor. This is providing a competitive edge to the TFE market as more and more customers look for better encapsulation techniques.

Growing R&D and Innovation: Not only large Chinese companies are shifting their concern from mere manufacturing but are also expanding their spending on the research and development of the next-generation display solutions and organic electronics. While examining other applications of OLEDs and organic devices, TFE continues to be a key aspect to safeguard all these inventions.

China’s strategic focus on developing its global display and electronics markets will sustain TFE’s growth in the years to come as the country advances as the electronic and innovation hub.

Conclusion

Thin film encapsulation market is believed to grow rapidly in the Asia-Pacific region and particularly in China due to dominance in OLED display and organic electronics industries. Taking the and consideration that South Korea, Japan Taiwan and China are currently among the leaders in OLED and flexible display technologies the demand for TFE is expected to rise. China is also the one that is gradually becoming a world giant with the support of the state, large investments in OLED production, and flexible and foldable displays.

Contact Us:

UnivDatos Market Insights

Email - contact@univdatos.com

Contact Number - +1 9782263411

Website -www.univdatos.com

Related Electronic & Semiconductor Research Industy Report:-

Chip On Board LED Market: Current Analysis and Forecast (2024-2032)

Foldable Display Market: Current Analysis and Forecast (2024-2032)

[semmarketresearch]

AC-DC Power Supply Adapter Market Regional Analysis, Key Players, Segments, Development, Opportunities, Forecast to 2032

Global AC-DC Power Supply Adapter Market Overview (2024-2032)

The global AC-DC Power Supply Adapter market has been demonstrating consistent growth, driven by increasing demand across key sectors such as automotive, industrial, and consumer electronics. The market was valued at USD 65.3 billion in 2023 and is projected to grow from USD 69.4 billion in 2024 to USD 99.9 billion by 2032, representing a compound annual growth rate (CAGR) of 6% during the forecast period from 2024 to 2032. This growth is largely attributed to the expanding automobile industry and advances in AC-DC Power Supply Adapter technology, which are reshaping industries and driving adoption.

Get FREE Sample Report:

Market Dynamics

Key Growth Drivers

Rapid Expansion of the Automobile Industry: The global automotive industry is witnessing rapid expansion, particularly in the areas of electric vehicles (EVs) and autonomous vehicles (AVs). AC-DC Power Supply Adapters are critical components in EVs, playing an essential role in controlling power supply, managing electric powertrains, and regulating motor drives. With the increasing popularity of EVs and a strong push from governments toward reducing carbon emissions, the AC-DC Power Supply Adapter market is set to grow significantly in the coming years.

Technological Advancements in Automotive Systems: Innovations such as x-by-wire and drive-by-wire technologies are gaining traction in modern vehicles. These technologies replace traditional mechanical and hydraulic systems with electronic controls, which not only reduce vehicle weight but also enhance fuel efficiency and lower emissions. AC-DC Power Supply Adapters are at the core of these technologies, helping enable precise control of functions such as steering, braking, and throttle. As automakers continue to adopt advanced power management systems, the demand for AC-DC Power Supply Adapters is expected to increase substantially.

Rising Adoption in Renewable Energy and Industrial Applications: The transition toward renewable energy sources, such as wind and solar power, is further boosting the demand for AC-DC Power Supply Adapters. These components are used in inverters and power converters, which are crucial for converting renewable energy into usable electricity. Moreover, in industrial applications, AC-DC Power Supply Adapters are used in various automation solutions, from power distribution systems to motor drives, further driving market growth.

Challenges

Despite the positive growth outlook, the AC-DC Power Supply Adapter market faces certain challenges. Fluctuations in raw material prices and the high costs associated with the development of advanced semiconductor technologies can impact the market. Additionally, the complexity of designing AC-DC Power Supply Adapters that meet stringent efficiency standards and regulatory requirements poses challenges for manufacturers.

The semiconductor supply chain is also vulnerable to disruptions. In recent years, geopolitical tensions and pandemic-induced supply chain disruptions have led to a shortage of semiconductor components, impacting production timelines and driving up costs. However, increasing investments in domestic semiconductor manufacturing facilities and the establishment of partnerships to secure supply chains are helping to mitigate these issues.

Market Segmentation

The AC-DC Power Supply Adapter market is segmented based on type, material, application, and region.

By Type:

Discrete Semiconductors: Including diodes, transistors, and thyristors. These components are commonly used in power conversion and motor control applications.

Power Modules: Power modules integrate multiple AC-DC Power Supply Adapter devices into a single unit, offering higher power handling capability and efficiency.

Power Integrated Circuits (ICs): Power ICs combine several power components into a single chip, often used in consumer electronics and energy-efficient applications.

By Material:

Silicon: The most widely used material for AC-DC Power Supply Adapters due to its well-established manufacturing processes and cost-effectiveness.

Silicon Carbide (SiC): Offers advantages in high-voltage and high-temperature applications, making it suitable for EVs and renewable energy systems.

Gallium Nitride (GaN): Emerging as a promising material for high-frequency applications, with potential benefits in EV chargers and power adapters.

By Application:

Automotive: Includes EVs, hybrid electric vehicles (HEVs), and advanced automotive systems like x-by-wire.

Consumer Electronics: AC-DC Power Supply Adapters are used in power supplies, battery chargers, and energy-efficient appliances.

Renewable Energy Systems: Widely used in solar inverters, wind turbines, and energy storage systems.

Industrial: Applications include motor drives, power distribution systems, and industrial automation equipment.

Regional Analysis

The AC-DC Power Supply Adapter market is witnessing significant growth across all major regions, with strong demand coming from Asia-Pacific, North America, and Europe.

Asia-Pacific: The Asia-Pacific region is expected to dominate the AC-DC Power Supply Adapter market during the forecast period. This growth is driven by a high concentration of automotive manufacturers in China, Japan, and South Korea, coupled with rapid industrialization and the growing adoption of renewable energy sources. The region's strong electronics manufacturing base also contributes to increased demand for AC-DC Power Supply Adapters.

North America: North America is witnessing significant growth due to the increasing adoption of electric vehicles and advancements in renewable energy infrastructure. The presence of leading automotive companies and a strong focus on energy efficiency initiatives are driving the demand for AC-DC Power Supply Adapters in this region.

Europe: Europe has emerged as a key market for AC-DC Power Supply Adapters, primarily driven by the region's stringent emission regulations, government incentives for EV adoption, and investment in renewable energy projects. The emphasis on sustainability and the ongoing shift towards clean energy are expected to propel market growth in Europe.

Competitive Landscape

The global AC-DC Power Supply Adapter market is highly competitive, with numerous established players and new entrants vying for market share. Key companies include:

Infineon Technologies AG: A leading player in the AC-DC Power Supply Adapter market, Infineon focuses on automotive and industrial applications, offering a range of power modules and discrete components. The company's innovations in SiC and GaN power devices are helping it maintain a competitive edge in high-performance applications.

ON Semiconductor: ON Semiconductor offers a comprehensive portfolio of power solutions targeting automotive, industrial, and consumer electronics applications. The company's focus on energy efficiency and electrification aligns well with the growing demand for AC-DC Power Supply Adapters in the automotive sector.

STMicroelectronics: Known for its power ICs and power modules, STMicroelectronics caters to various industries, including automotive and renewable energy. The company is expanding its presence in the EV market by developing SiC-based solutions for high-efficiency power management.

Mitsubishi Electric Corporation: Mitsubishi Electric focuses on power modules and discrete semiconductors for automotive and industrial applications. The company's expertise in SiC technology positions it well for growth in the electric vehicle and renewable energy sectors.

These companies are investing in R&D to develop advanced AC-DC Power Supply Adapter materials, such as silicon carbide and gallium nitride, which offer superior efficiency and performance. Strategic partnerships, mergers, and acquisitions are also being pursued to expand market presence and enhance product portfolios.

Future Outlook

The AC-DC Power Supply Adapter market is poised for robust growth, driven by the increasing adoption of electric vehicles, renewable energy systems, and industrial automation. The shift towards electrification in transportation and energy efficiency in industrial and consumer sectors will further fuel demand for AC-DC Power Supply Adapters. Technological advancements in SiC and GaN materials are expected to provide new growth opportunities, enabling more efficient power conversion and management across various applications.

As governments and industries prioritize sustainability and energy efficiency, the demand for AC-DC Power Supply Adapters is expected to continue rising. The focus on developing more efficient and compact power management solutions will play a crucial role in driving the market, providing opportunities for innovation and growth.

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Electric Vehicle Waterproof Charging Pile Market to surpass USD 15.3 Bn  by 2032

The electric vehicle waterproof charging pile market is projected to grow at a CAGR of 15.8% from 2024 to 2032. This growth is driven by the increasing adoption of electric vehicles, spurred by rising environmental awareness and supportive government policies. As more consumers and businesses transition to EVs, the demand for reliable and durable charging solutions, particularly waterproof charging piles, is increasing. These charging piles ensure safety and longevity, especially in areas with harsh weather conditions. Additionally, various global incentives, such as subsidies and tax benefits, are helping accelerate the adoption of EVs, driving the need for robust charging infrastructure.

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The expansion of cities and rapid urbanization are further boosting the demand for extensive EV charging networks. As new residential and commercial areas develop, the need for functional and safe charging solutions that can withstand the elements becomes critical. The rise of smart cities, which incorporate integrated EV charging infrastructure, is also contributing to the growing demand for waterproof charging piles.

The market is segmented by charging method into AC charging piles, DC charging piles, and wireless charging piles. In 2023, AC charging piles accounted for a significant share of the market, valued at USD 2.5 billion. Manufacturers increasingly offer customizable and modular designs for AC charging piles to meet diverse installation needs. These customizable options include adjustable power levels, various connector types, and enclosures suitable for different environments. Enhanced safety features, such as overcurrent protection and thermal monitoring, are becoming standard, ensuring reliable operation even in extreme conditions.

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In terms of installation location, the market is segmented into residential, commercial, and public installations. The residential segment is expected to hold over 45% of the market share in 2023. As smart home technology advances, homeowners seek EV charging piles that integrate with smart home systems, offering features like remote monitoring and control. Additionally, the trend of combining solar power with EV charging solutions is growing, as it maximizes energy efficiency and reduces reliance on the grid.

Regionally, the US market is experiencing rapid growth due to increased EV adoption. On the other hand, Europe is driven by environmental goals and stringent emission regulations. The demand for weather-resistant and standardized charging infrastructure remains a key focus across both regions.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope

1.1    Research design

1.1.1    Research approach

1.1.2    Data collection methods

1.2    Base estimates & calculations

1.2.1    Base year calculation

1.2.2    Key trends for market estimation

1.3    Forecast model

1.4    Primary research and validation

1.4.1    Primary sources

1.4.2    Data mining sources

1.5    Market scope & definition

Chapter 2   Executive Summary

2.1    Industry synopsis, 2021-2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.1.1    Factor affecting the value chain

3.1.2    Profit margin analysis

3.1.3    Charging pile manufacturers

3.1.4    Distributors

3.2    Supplier landscape

3.2.1    Charging pile manufacturers

3.2.2    Tier 1 and tier 2 suppliers

3.2.3    Technology integrators

3.3    Profit margin analysis

3.4    Technology differentiators

3.4.1    Smart charging features

3.4.2    IP rating integration

3.4.3    Advanced charging protocols

3.4.4    Modular charging pile architecture

3.4.5    Others

3.5    Key news & initiatives

3.6    Regulatory landscape

3.7    Impact forces

3.7.1    Growth drivers

3.7.1.1    Rising electric vehicle adoption

3.7.1.2    Technology advancements in charging solutions

3.7.1.3    Rapid urbanization and infrastructure development

3.7.1.4    Increasing global focus on sustainability

3.7.2    Industry pitfalls & challenges

3.7.2.1    High cost of production

3.7.2.2    Maintenance challenges

3.8    Growth potential analysis

3.9    Porter’s analysis

3.10    PESTEL analysis

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[communicationblogs]

Green Hydrogen Market — Forecast(2024–2030)

Green Hydrogen market size is forecasted to reach US$2.4 billion by 2027, after growing at a CAGR of 14.1% during the forecast period 2022–2027. Green Hydrogen is produced using low-carbon or renewable energy sources, such as solid oxide electrolysis, alkaline electrolysis and proton exchange membrane electrolysis. When compared to grey hydrogen, which is made by steam reforming natural gas and accounts for the majority of the hydrogen market, green hydrogen has significantly lower carbon emissions. Due to its capacity to lower carbon emissions, green hydrogen has recently been in high demand. Since it is a renewable energy source, its use is anticipated to rise in the coming years. The demand for the green hydrogen industry is expected to grow as public awareness of hydrogen’s potential as an energy source increases. Additionally, because hydrogen fuel is highly combustible, it has the potential to displace fossil fuels as a source of carbon-free or low-carbon energy, which is anticipated to support the growth of the green hydrogen industry during the forecast period. The novel coronavirus pandemic had negative consequences in a variety of green hydrogen end-use industries. The production halt owing to enforced lockdown in various regions resulted in decreased supply, demand and consumption of green hydrogen, which had a direct impact on the Green Hydrogen market size in the year 2020.

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Green Hydrogen Market Report Coverage

The “Green Hydrogen Market Report — Forecast (2022–2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Green Hydrogen industry.

By Technology: Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer

By Renewable Source: Wind Energy and Solar Energy

By Application: Energy Storage, Fuels, Fertilizers, Off-grid Power, Heating and Others

By End-Use Industry: Transportation [Automotive (Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles), Aerospace, Marine and Locomotive], Power Generation, Steel Industry, Food & Beverages, Chemical & Petrochemical (Ammonia, Methanol, Oil Refining and Others) and Others

By Country: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East and Africa)

Key Takeaways

Europe dominates the Green Hydrogen market, owing to the growing base of green hydrogen manufacturing plants in the region. Europe has been taking steps to generate clean energy from green hydrogen to reduce carbon emission, which is the major factor for expanding European green hydrogen manufacturing plants.

The market is expanding due to the rise in environmental concerns, which also emphasizes the need for clean/renewable energy production to lower emission levels. Additionally, the industry for green hydrogen is expanding owing to the increased use of nuclear power and green hydrogen.

However, the primary factors limiting the growth of the green hydrogen market are the initial investment requirements for installing hydrogen infrastructure as well as prohibitive maintenance costs.

Green Hydrogen Market Segment Analysis — By Technology

The alkaline electrolyzer segment held the largest share in the Green Hydrogen market share in 2021 and is forecasted to grow at a CAGR of 13.8% during the forecast period 2022–2027, owing to its higher operating time capacity and low capital cost. Alkaline electrolyzers work by generating hydrogen on the cathode side and transporting hydroxide ions (OH-) through the electrolyte from the cathode to the anode. The alkaline electrolyzer primarily benefits from three factors. As it produces hydrogen with relatively high purity and emits no pollutants during the production process, it is firstly a green and environmentally friendly device. Second, flexibility in production. The production of hydrogen by alkaline water electrolysis has greater advantages in large-scale applications with solar power and wind power converted into hydrogen energy storage. It is available for large-scale distributed generation applications, in particular in the current large-scale productions with alkaline electrolytic water. Thirdly, alkaline electrolyzer electrodes, cells and membranes are comparatively inexpensive with high efficiency and long-term stability. These characteristics and precious metal-free electrodes enable the green hydrogen production by alkaline water electrolysis a promising technology for green hydrogen production, thereby significantly contributing to segment growth.

Green Hydrogen Market Segment Analysis — By End-Use Industry

The chemical & petrochemical segment held a significant share in the Green Hydrogen market share in 2021 and is forecasted to grow at a CAGR of 14.5% during the forecast period 2022–2027. Green hydrogen is often used in the chemical & petrochemical industry to manufacture ammonia, methanol, petroleum products, including gasoline and diesel and more. Integrated refinery and petrochemical operations use huge volumes of green hydrogen to desulfurize the fuels they produce. Using green hydrogen to produce ammonia, methanol, gasoline and diesel, could help countries gain self-sufficiency in a vital chemical manufacturing sector, hence, companies are increasingly using green hydrogen in the industry. The chemical & petrochemical industry is projected to grow in various countries, for instance, according to Invest India, the market size of the Chemicals & Petrochemicals sector in India is around US$178 billion and is expected to grow to US$300 billion by 2025. This is directly supporting the Green Hydrogen market size in the chemical & petrochemical industry.

Green Hydrogen Market Segment Analysis — By Geography

Europe held the largest share in the Green Hydrogen market share in 2021 and is forecasted to grow at a CAGR of 14.3% during the forecast period 2022–2027, owing to the bolstering growth of the chemical & petrochemical sector in Europe. The European chemical & petrochemical industry is growing, for instance, according to the European Chemical Industry Council (Cefic), The 10.7 percent increase in manufacturing output in the EU27 during the first three quarters of 2021 is indicated by the January-Sep 2021 data as a sign that chemical output is returning to the pre-COVID19 pandemic levels. After the COVID-19 outbreak, the EU27’s chemical output increased by 7.0 percent between the first three quarters of 2021 and the same period in 2020. About 3% more chemicals were produced in 2021 than there were before the pandemic (Jan-Sep-2019). In 2022, it is anticipated that EU27 chemical output will increase by +2.5 percent. Over the forecast period, the growth of the green hydrogen industry in Europe is being directly supported by the rising production of chemicals and petrochemicals. Numerous green hydrogen projects are also expected to start in Europe. For instance, a 500MW green hydrogen facility, one of Europe’s largest single-site renewable H2 projects, is planned for construction at the Portuguese port of Sines by 2025. Germany invested $1 billion in a funding plan to support green hydrogen in December 2021 as the new government aims to increase investment in climate protection. such green hydrogen projects in the area are projected to further support the European green hydrogen market size over the coming years.

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Green Hydrogen Market Drivers

Increasing Investments in Establishing Green Hydrogen Plants:

Governments from several industrialized nations are stepping up efforts to build green hydrogen infrastructure. Infrastructure growth will enable producers to increase their capacity and reach, which will help them lower the cost of green hydrogen. For the development of an ecosystem that accepts green hydrogen as an alternative fuel, the participation of the governments of the respective countries is extremely important. Oil India Limited (OIL), a major player in exploration and production, officially opened “India’s first 99.999 percent pure” green hydrogen plant in Assam in April 2022. The installed capacity of the solar-powered pump station is 10 kg of hydrogen per day. The UK Government first announced plans to create a hydrogen village by 2025 and a hydrogen neighborhood by 2023 in November 2020 as part of the Ten-Point Plan for a Green Industrial Revolution. The UK government announced in April 2022 that it would establish a hydrogen village by the year 2025, the same day that First Hydrogen unveiled its selection of four English locations for green hydrogen production projects. Berlin’s H2Global initiative, which provides a path to market for sizable renewable hydrogen facilities worldwide, is approved by the European Commission in December 2021. The European Commission has approved a €900 million (US$1 billion) plan to subsidize the production of green hydrogen in non-EU nations for import into Germany under EU state aid regulations. The development of such infrastructure is facilitating the manufacturers to expand their reach and capacity, which will assist them in expanding the manufacturing base, thereby driving the market expansion.

Bolstering Demand for Green Hydrogen from Transportation Sector:

The world is getting ready to change the way it moves as it moves toward net zero-emission goals. Vehicles that use hydrogen directly in fuel cells or internal combustion engines are being developed by the transportation sector. Vehicles powered by hydrogen have already been created and are being used in a few sectors in Europe, Asia and North America. A prime example is the Toyota Mirai, a green hydrogen-based advanced fuel cell electric vehicle (FCEV) that was introduced by Indian Union Minister Nitin Gadkari in March 2022. This project is a first of its kind in India and aims to develop a market for such vehicles. It is one of the best zero-emission options and is powered by hydrogen. In August 2021, Small forklifts powered by hydrogen fuel cells will be developed, according to a plan unveiled by Hyundai Construction Equipment Co. By 2023, the Hyundai Genuine Co. subsidiary and S-Fuelcell Co., a local manufacturer of hydrogen fuel cells, plan to commercialize the 1–3 tonne forklifts. The U.K.-based startup Tevva debuted a hydrogen-electric heavy goods vehicle in July 2022, becoming the most recent business to enter a market where multinational corporations like Daimler Truck and Volvo are showing interest. The hydrogen tanks will need to be refilled in 10 minutes and it will take five to six hours to fully charge the battery. The first hydrogen-electric truck produced by the company weighs 7.5 tonnes, with later versions expected to weigh 12 and 19 tonnes. The countries are planning to more than double the number of such hydrogen-based vehicles in the future, which is anticipated to be a driver for the green hydrogen market during the forecast period.

Green Hydrogen Market Challenges

High Initial Cost of Green Hydrogen:

The initial costs associated with producing green hydrogen are very high and the inability to transport and store it adds to the material’s cost. Hydrogen energy storage is a pricey process when compared to other fossil fuels. In processes like liquefaction, liquid hydrogen is used as an energy carrier because it has a higher density than gaseous hydrogen. The mechanical plant used in this mode of operation has a very intricate working and functioning system. Thus, this raises overall expenses. While transporting green hydrogen presents additional economic and safety challenges, the fixed cost necessary to set up the production plant is only half the challenge. According to the Columbia Climate School, the issue is that green hydrogen is currently three times more expensive in the United States than natural gas. Additionally, the cost of electrolysis makes producing green hydrogen much more expensive than producing grey or blue hydrogen, even though the cost of electrolyzers is decreasing as production increases. Gray hydrogen currently costs about €1.50 ($1.84) per kilogram, blue hydrogen costs between €2 and €3 and green hydrogen costs between €3.50 and €6 per kilogram. As a result, the high initial cost of green hydrogen is expected to be one of the major factors limiting the Green Hydrogen market growth.

[rjzimmerman]

Excerpt from this story from Inside Climate News:

The growth of customer-owned solar and batteries can help to reduce wear and tear on the grid and save ratepayers money.

How much money? A new paper from University of Texas at Austin researchers shows savings of about 40 percent.

The lead author, Nick Laws, has experience translating his area of research into terms that regular people can understand. If he’s at a backyard picnic, he said, he’ll begin by pointing at overhead power lines.

“If you look at these wires and poles around us, they’re actually, in most cases, very old,” he said. “A lot of times the hardware on the grid is near the end of life.”

The paper is the culmination of his doctoral dissertation, completed in December, about extending the life of grid hardware by reducing the stress caused by periods of high electricity demand and long-term growth in demand. He and his colleagues looked at how best to encourage companies and individuals to invest in energy systems that help to diminish demand on the grid.

The utility-speak term for these systems is “non-wires alternatives,” which can include rooftop solar, community solar and battery storage.

It also includes electric vehicle charging systems, but only if the equipment is connected to the grid in a way that allows a grid operator to pause charging or draw electricity from the car’s batteries at times of high demand.

Another important resource is demand response, which usually applies to factories and other major electricity users who agree to reduce their power use at times of high demand.

Laws’ paper simulates the effects of electricity demand on a neighborhood-size part of the grid over 20 years.

His model found that the costs of providing electricity would be $7.2 million per year if there was no battery storage or other customer-owned resources to reduce demand. This takes into account many variables, including high market prices of electricity during times of strong demand and the need to buy new equipment such as wires and transformers.

Next, he looked at the costs if there were optimal incentives to get households and businesses to invest in demand-reducing tools. He estimated the costs, including the incentives, at about $4.2 million per year.

The savings, which would be passed on to consumers through their utility bills, is about $3 million, which is about 40 percent.

“It lowers the cost for everybody,” Laws said.

I want to call attention to my use of the term “optimal incentives” above because that’s a vital part of the analysis. Much of the paper considers how to calculate incentives, which would involve the utility or grid operator paying customers for using equipment that reduces electricity demand. The price would vary based on how valuable that reduction is.