OIL AND GAS
U.S. portable generators market to exceed an annual shipment of 1.5 million by 2024, facility expansion bids to augment the overall industry share
As climate change continues to cause intense and frequent weather-related disasters, U.S. portable generators market size has proliferated at a remarkable pace over the recent years. In 2013, the U.S. Department of Energy and the White House Council of Economic Advisers released a comprehensive report which rightly demonstrates the growing prominence of U.S. portable generators industry space across power generation sector of the nation. Apparently, the report, named as Economic Benefits of Increasing Electric Grid Resilience to Weather Outages reveals key findings on major causes of economy-damaging power outages across the nation. According to the estimates noted in the report, the power outages caused by severe weather between 2003 and 2012 cost the American economy almost USD 18 billion to USD 33 billion on a yearly basis.
South Atlantic Portable Generators Market Size, By Power Rating, 2017 & 2024 (‘000 Units)
Apart from extreme weather events, the aging electric grid infrastructure across the U.S has emerged as a major cause of power outages. This has, in consequence, led to enhanced product demand from a range of end use sectors such as residential, commercial, and construction among others. The report further mentions that approximately 679 power outages occurred between 2003 and 2012 predominantly due to vulnerable electric grids and weather-related disasters. Apparently, these crucial statistics go on to validate the increasing number of business opportunities being opened up for the U.S. portable generators market participants who have been focusing on facility expansion projects of late.
Citing an instance to highlight the efforts that are being undertaken by U.S. portable generators industry participants to expand their production facilities, HiPower Systems has recently announced to have finalized the purchase of a new USD 24 million industrial complex in the state of Kansas. Subsequently, the leading U.S. portable generators market player intends to establish its headquarters at the latest location.
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More importantly, the production unit of the company’s newly designed high grade and Tier 4 Final-compliant portable generators is likely to be housed within the latest facility. Moreover, the design, engineering, manufacturing to sales and after-sales support would be conducted from the premises of the new facility. Concurrently, it is quite prudent to state that the instance of HiPower Systems’ facility expansion stands as an indicator of the fact that firms partaking in U.S. portable generators market are consistently attempting to fortify their presence in this swiftly flourishing business space. In fact, as per a research report collated by Global Market Insights, Inc., the overall remuneration portfolio of U.S. portable generators industry stood at around USD 1.2 billion in 2017.
Speaking in terms of regional growth prospects, the South Atlantic terrain is expected to contribute immensely toward the overall U.S. portable generators market share augmentation in the ensuing years. The ever-increasing intensity of hyperactive hurricanes in this region has stimulated the product demand in the recent times. For instance, the region witnessed 6 highly devastating hurricanes of Category 3 and 18 storms in the year 2017. The most notable among these was the Hurricane Irma which slammed into the state of Florida and reportedly impacted more than 64 percent of all residents of the state. Apparently, it is quite imperative to mention that South Atlantic region’s share in the overall U.S. portable generators market, owing to the aforementioned factors, is bound to surpass an annual shipment of around 400,000 units by 2024, as per reliable estimates.
As the customer dependency on power backup solutions escalates in the near future, the overall U.S. portable generators market size is anticipated to witness an upward trend of progression over the estimated timeframe. Moreover, the escalating need for consistent electricity supply coupled with the aging and fast-deteriorating grid infrastructure would augment the product penetration across the United States. With the rising instances of natural disasters including floods, hurricanes, earthquakes, and wind storms that result in prolonged power outages, the U.S. portable generators industry is set to surpass an annual shipment of about 1.5 million units by 2024.
Author Name : Saif Ali Bepari
Combi boiler market to be driven by rigorous regulatory frameworks and rapid product advancements, global industry to surpass an annual installation of 3 million units by 2024
Owing to the massive investments being made in low carbon innovations, the revenue graph of combi boiler market has received a remarkable boost over the recent years. A marked increase in environmental concerns to lower the greenhouse gas emissions has compelled various regulatory authorities to prescribe stringent legislations regarding the installation of heating systems across commercial and residential spaces. The subsequent enforcement of these regulations coupled with the rising product demand is poised to boost the commercialization scale of combi boiler industry in the times to come.
UK Combi Boiler Market Size By Fuel, 2017 & 2024 (Thousand Units)
Citing an instance to validate the efficacy of the aforementioned declarations, United Kingdom’s Department for Business, Energy, and Industrial Strategy has recently introduced a new legislation to transform the manufacturing and installation procedures of heating systems across the nation. The legislation, christened as Boiler Plus, aims to raise the bar for both manufacturers and installers in combi boiler market and address the glitches pertaining to energy efficiency in these heating systems. Reportedly, the legislation comes into effect from April this year and is likely to phase out inefficient boilers from the households of UK.
Speaking along similar lines, the Heating and Hot Water Industry Council has released a number of comprehensive guides aimed at educating consumers and installers regarding the requirements of the newly launched Boiler Plus legislation. Apparently, the regulations have mandated the combi boiler industry players to include at least one of the many novel features such as weather compensation, load compensation, flue gas heat recovery systems, and smart controls featuring automation and optimization functions while installing new boilers.
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It is rather noteworthy to mention that combi boilers have acquired wide spread recognition as an economically viable alternative over conventional water and space heating systems, given the fact that they offer enhanced efficiency and function at lower operating cost. Banking on the excellent advantages of these boilers, it has been observed that numerous acclaimed companies in combi boiler market have embarked upon a product-revamp strategy to preserve their competitive edge. Following are a few instances that track the latest developments in the combi boiler industry with respect to newly launched products:
- The United States headquartered water heaters and boilers manufacturer, A. O. Smith Corporation, has recently rolled out a new combi boiler that would provide seamless space heating services for residential consumers and deliver instant hot water as well. Named as ProLine XE Combination Boiler, the compact and service-friendly layout of the latest product facilitates easy maintenance, set-up, and installation to professional contractors in the overall combi boiler industry. Moreover, the latest boiler comes with an excellent energy-saving performance with a 10:1 turndown ratio and an impressive 95% Annual Fuel Utilization Efficiency. Boasting of the highest capacity across the existing product range in combi boiler market, ProLine XE Combination Boiler has been equipped with advanced technology to deliver up to 4.8 gallons of hot water per minute.
- In an attempt to offer a combination boiler that has contemporary styling and smart control to suit modern homes, Daikin UK has launched its latest gas condensing boiler this month. Christened as D2CND, the new boiler has been supplemented with an adaptive gas valve which works with either LPG or natural gas. Furthermore, the latest boiler reportedly delivers an A+++ rating for hot water requirements when combined with solar thermal products and provides an A rating for space heating purposes. Bearing in mind the convenience of system installers, the combi boiler industry giant has designed D2CND with low lift weight and simple connections for easy installation.
Considering the aforementioned aspects, it would be quite prudent to state that the emergence of highly updated heating systems demonstrates the continued efforts of players in combi boiler market in enhancing the existing product range. With stringent regulatory norms and legislations being put in place coupled with the adoption of sustainable technologies to transform product design, the overall combi boiler market share is bound to expand at a commendable pace in the forthcoming years. In fact, as per a research report by Global Market Insights, Inc., the annual installation volume of combi boiler industry is forecast to exceed 3 million units by the end of 2024.
Author Name : Saif Ali Bepari
A succinct outline of Europe boiler market in terms of the competitive spectrum: deployment of highly advanced next-gen technologies to profoundly impact the product demand
The last few years have observed Europe boiler market undergoing a transformation of sorts, especially with regards to the methodology of boiler development. Emission control for example, has now evolved as a major concern in boiler production, on the grounds of which many European countries have implemented several emission control policies. In addition, the rapidly changing climatic conditions and increasing need for energy efficiency are also encouraging giants in Europe boiler industry to manufacture advanced versions of the current products. Consequently, the demand for highly developed and energy-efficient boilers is on the rise, prompting the EU to lay down an even more stringent regulatory framework with regards to energy efficiency. Regulatory bodies in fact, have even enforced norms with regards to accurate installation of boilers in new buildings. With the increasing dependency on HVAC systems, Europe boiler market is likely to witness a massive growth, having held a revenue of USD 10 billion in 2016.
France Boiler Market Size, By Fuel, 2016 & 2024 (Thousand Units)
In order to expand their presence across myriad geographies, most of the companies across this space have been focusing on acquiring the business of their competitors. A few years earlier, the French major Atlantic acquired Ideal Boilers, one of the renowned British boiler manufacturers. The move prompted Atlantic group to accelerate its product diversification in Europe boiler industry. In another instance, in 2010, Thermax had bought Danstoker A/S – one of the leading players of Europe boiler market, along with its German subsidiary, Omnical Kessel. This acquisition has reportedly helped Thermax mark its presence across the untapped markets and extend its product portfolio. The aforementioned instances aptly validate how the geographical expansion strategies of leading companies will help Europe boiler market share soar in the ensuing years.
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Speaking of the competitive spectrum, it is prudent to mention that several players in Europe boiler market are looking forward to inventing new boiler solutions with the advancement of technology. Not to mention, this business space is governed by a stringent set of regulations, on account of which energy efficiency and ease of installation are now counted among the most important concerns among manufacturers. Furthermore, boiler manufacturers are focusing on a high level of customer comfort with lowest energy cost. On these grounds, it would be fair to state that Europe boiler industry is rampant with a plethora of R&D programs focusing on innovating boiler solutions that boast of energy efficiency and optimized lifecycle.
Considering the escalating demand for multiple boiler set-ups across the commercial and residential sectors, companies have been going the whole hog to cascade a fixed number of boilers to provide the required set-up. For instance, in 2017, Weil-McLain® added three new smaller sizes to its advanced condensing boiler line. With this new addition, the company has managed to produce a condensing boiler for residential applications. In addition, for attracting more customers it has also worked on the design and aesthetic features of its products, which seemingly resulted in the improved functionality of boilers. This provides further evidence to the fact that with the implementation of advanced control functions, major giants in Europe boiler industry are planning to extend their customer base across Europe.
Another renowned Europe boiler market firm, Ariston Thermo has recently developed a long range of sustainable and efficient space and water heating solutions. The move seems to have taken place on the heels of the fact that next-gen technologies are now becoming rather commonplace across the continent, thereby augmenting Europe boiler industry outlook.
The aforementioned instances validate that the development of gas-powered water heaters, ultra-efficient hybrid systems, and new heating technologies for commercial applications have generated many lucrative opportunities for players in Europe boiler market. Not to mention, the numerous initiatives taken by the regional governments to encourage the adoption of renewable, eco-friendly, and free energy sources for curbing carbon dioxide emissions will also have a favorable impact on product demand. As the popularity for sustainable product development increases across the continent, Europe boiler market size is expected to grow at a remarkable pace, with a target revenue estimation of more than USD 12 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Wastewater recovery systems market valuation to surpass the 50-billion-dollar frontier by 2024, global industry to be characterized by a strict regulatory landscape
The rising scarcity of water & the growing risks associated with climate change have led to global wastewater recovery systems market charting out a highly profitable growth path in the last few years. Most companies that depend on consistent water supply are now exploring and implementing water recovery systems that can effectively mitigate the risks of unstable water resources. Most certainly, the growth of wastewater recovery systems market has also received considerable boost from the increased interest depicted by the global community and the legislative bodies.
North America Wastewater Recovery Systems Market Size, By Application, 2016 & 2024 (USD Billion)
An instance validating the authenticity of the aforementioned is that of the EPA of the United States issuing the Effluent Guidelines for the approval and licensing of wastewater discharge through industrial and commercial operations. Numerous other regulatory bodies also, have seemingly undertaken a plethora of efforts to ensure wastewater treatment. Of late, wastewater recovery systems have gained renewed traction through recycling wastewater that has proven to be a good measure to ease the pressure on water resources and environmental conservation.
According to industry analysts, the global demand for water will increase by 40% by 2030. But without efficient conservation of natural resources and effective wastewater recovery, it is predictable that companies in drought-prone areas and other water intensive industries will face major challenges in maintaining their facility operations and manufacturing lines. With major technological advancements and cost-effective solutions with regards to wastewater recovery systems however, the electronics, food and beverage, pharmaceutical, chemical, metal and mining sectors have now begun to adopt these devices on a humongous scale. This in consequence, would major drive wastewater recovery systems market trends.
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Natural filtration and treatment processes have been on a rage lately and have inherently contributed toward driving wastewater recovery systems market. Say for instance, membrane filtration, media filtration, and ultra- filtration and reverse osmosis, that are classified among some of the best technologies used in wastewater recovery systems. In fact, the declining cost of membranes combined with increasing operational efficiency has spurred membrane filtration-based wastewater recovery systems industry size, projected to register a CAGR of 9% over 2017-2024.
Among the myriad water intensive industries adopting wastewater recovery systems, the F&B, pharma, and mining industries deserve a special mention. The food and beverage sector, in particular, stands out as one of the largest consumers of water and consequently, one of the largest producers of wastewater or brine. Previously, waste water from food processing factories were discharged in evaporation ponds. But as environmental regulations made such ponds obsolete, the food industry quickly adopted advanced membrane filtration systems to recover and reuse the water produced during processing resulting in the rise of the zero-discharge scheme. Zero liquid discharge also became popular in the mining industry where thermal and non-thermal solutions are used to recover a substantial amount of wastewater and reduce brine.
Environmental restrictions have been instrumental in augmenting wastewater recovery systems market. Scientists and advocacy groups are maximizing awareness about the importance of water resources and their relation to producing clean energy. Wastewater has actually led to a major disruption in the natural water cycle that maintains a balance among all organisms in the ecosystem. As climatic changes and increased frequency of droughts continue to challenge industries with manufacturing hiccups, wastewater recovery systems industry is expected to witness a significant upsurge.
Numerous industrial sectors, in a bid to combat water scarcity, have been making increased investments to avoid water-shortage related challenges. Water-intensive sectors are also expected to adhere to environmental regulations that are stressing the importance of bringing back harmony in the natural water cycle. Aided by a strong regulatory framework and the rising efforts of myriad companies, wastewater recovery systems market size will register a CAGR of 8% over 2017-2024.
Author Name : Paroma Bhattacharya
Variable frequency drive market to be extensively characterized by innovative product moves, global valuation to exceed USD 19 billion by 2024
General Electric’s strategic tie up with SEW-Eurodrive undeniably marks the underlining development prevailing in variable frequency drive market. Reportedly the partnership centers around integrating SEW-Eurodrive’s variable frequency drives into GE’s Automation & Controls’ PACMotion advanced product line. While GE’s contribution in proliferating variable frequency drive industry trends is not unheard of, this strategic alliance certainly is a news to be reckoned with, considering the two strong aspects on which it is grounded.
U.S. Variable Frequency Drive Market By Application, 2016 & 2024 (‘000 Units)
- According to the official release, through this collaboration, SEW-Eurodrive and GE have a plan to offer complementary drive and motion controller solutions for process and discrete applications. Allegedly, these solutions would thereafter be utilized in sectors like manufacturing, machine control, and the like infrastructural verticals.
- The second aspect of the partnership deals with technology integration. As per the reports, the U.S. based giant would be integrating SEW’s servomotors and VFDs into its PACMotion product range. SEW, on the other hand, will incorporate GE’s IICS (Industrial Internet Control System) into its patent controller-based drive solutions to offer analytics, which ultimately would improve overall motor efficiency and reduce the operation cost.
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Growing inclination toward deploying energy efficient products with an envision to ensure energy security has undoubtedly complemented overall variable frequency drive market outlook. Rising energy prices in tandem with the dire necessity of efficient motor controls is bound to generate a massive demand for advanced variable frequency drives. As per estimates, electric motors account for almost 25% of the overall electricity consumption both from consumer and industrial applications. As the electricity consumption continues to upsurge, the application scope of variable frequency drive market is certain to widen, subject to its incredible potential of improving process control, while boosting overall system efficiency, and power factor. The presumption is amply validated by the forecast which claims annual installation of VFD industry to surpass 59 million units by 2024.
Two of the mega trends defining variable frequency drive market over 2017-2024
Having recognized the immense potential of the business space in years down the line, manufacturers all across the globe have been increasingly investing in groundbreaking VFD technology. The latest advances in variable frequency drive market in terms of product modification claims to address most of the common challenges that conventional equipment may have been struggling with for years. In this regard, as the explosive amplitude of IoT continues to touch almost all the verticals of industrial realm, wireless diagnostics has made its presence felt in VFD market. Unlike traditional plants where access to the drive is only possible through a closed enclosure, this enhanced tech prodigy enables engineers to connect drives directly to system without any physical contact via a wireless signal.
The industry having paved a transition from conventional product design to smart model, predictive maintenance is standing tall across the supply chain model. With the rising deployment of IoT in industrial domains, the necessity of manipulating vast volume of data received from machineries into business intelligence becomes much more important. The business space tending to embrace predictive maintenance can be majorly credited to this. Since VFDs help in simplifying and speeding up this flow of information from machine to engineers and vice versa, it can be authentically stated that variable frequency drive industry has observed a slew of opportunities from the IoT wave. Manufacturers are breaking the mold of conventional serial network and transiting toward Ethernet. Add to it, modern day’s complex communication strategies are also soaring up the demand for advanced VFDs, to maintain a thorough report on power output, downtimes, production rates for better decision making.
It is imperative to mention that since the business space is closely hinged to a variety of lucrative domains including utilities, metals & mining, cement, and steel sectors, technological interventions in these domains would also open up a plethora of opportunities for VFD market. Say for instance escalating production and exploration activities across oil-rich countries has substantially increased the product demand in petrochemical sector. Recent estimation put forth by OPEC (Organization for Petroleum Exporting Countries) depicts that worldwide crude oil production has observed an increment of 2.4% over 2015-2016. All in all, by virtue of its diversifying profitable application spectrum in addition to shifting focus toward optimized energy utilization, variable frequency drive industry stands to gain much over the forthcoming years. In terms of commercialization, overall business space is claimed to exceed USD 19 billion by 2024.
Author Name : Satarupa De
India dry type transformer market to exhibit impressive growth potential between 2017-2024, driven by governmental initiatives to provide uninterrupted power supply
The Indian sub-continent has lately been depicting a robust demand for energy, on the grounds of which India dry type transformer market has traversed an exponential growth path in recent years. As per reliable estimates, between 2000 and 2012, the energy demand in India had grown from 450 million tons of oil equivalent to 770 million tons of oil equivalent (toe). By 2030, this energy demand is projected to be between 1250 to 1500 million tons of oil equivalent. With such a phenomenal rise in energy demand, it is rather overt that India dry type transformer industry will witness major progress, given that these transformers find wide applications due to the ease of installation and safety of use.
Eastern Region Dry Type Transformer Market Size, By Rating (USD Million)
Dry type transformers are renowned for their low maintenance profile and years of trouble-free service. Unlike liquid type transformers, these transformers do not need oil or liquid dielectric for cooling, and incidentally, they also use environment-friendly high temperature insulation systems. In a country where the number of public sector buildings are increasing at an exponential rate, the safe and convenient installation and usage of dry type transformers is rather pivotal – a requirement that has provided substantial impetus to India dry type transformer industry. The deployment of these devices in multi storied buildings, schools, underground tunnels, hospitals and factories, places where fire safety is a major concern, has indeed provided a slew of growth avenues for India dry type transformer industry.
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India dry type transformer market size has also witnessed massive growth on account of the fact that these transformers have low installation costs and practically zero restrictions regarding the installation site – they can be installed indoors or outdoors. Dry type transformers are essentially air cooled, as the cooling ducts in the windings allow easy dissipation of heat, making them eco-friendly, and essentially augmenting the revenue graph of India dry type transformer market. Deploying these transformers indicates taking a step towards reducing the country’s carbon footprint, one of the major battles that every nation is fighting in recent times.
Speaking of the installation site, it is vital to know that outdoor dry type transformers often have to face hostile environmental conditions and have to be periodically cleaned to maintain their output and performance. Thus, due to rising space constraints, India dry type transformer market has witnessed a rise in indoor installations. These devices are also preferred due to the protection an indoor location provides against moisture, dirt and corrosive fumes. In consequence, it has been estimated that the infrastructure development industry, on which the Indian government has expended billions of dollars, is a major contributor toward India dry type transformer market expansion.
In 2017, the Modi government declared its decision to launch a scheme that would provide 24×7 electricity to the country, including the remotest locations. The declaration also stated that the required subsidies will be provided on meters, wires and transformers. Regional experts, in this regard, have gone on record to state that this scheme will have a major impact on the growth map of India dry type transformer industry, given that these devices would be in massive demand henceforth, in order to fulfill the government’s mission. The government also aims at utilizing clean energy sources which will indirectly benefit India dry type transformer market as the product’s cooling method is comparatively eco-friendlier than its liquid-cooled counterparts.
Besides providing power solutions to the villages that still do not have access to electricity, the Indian government will also have to provide power to the exponentially expanding urban centers of India, where the population is increasing by the day and the demand for power across the industrial, commercial and residential arenas has been depicting robust growth. As per a research study, India dry type transformer market size has been pegged at over 20,000 units in terms of volume, by 2024.
Author Name : Paroma Bhattacharyai
A regional overview of distribution panel market, favorable regulatory framework to drive global industry progression
Touted as one of the most pivotal verticals of the power grid sector, distribution panel market is generating a rather substantial momentum in the overall energy sector. The rapidly increasing environmental safety concerns have led to tremendous efforts by the governments and private agencies to cutback GHG emissions and huge energy losses that occur during transmission & distribution of energy. In consequence, several regional governmental bodies have been undertaking initiatives in deploying energy efficient power grid equipment and refurbishing ageing distribution centers that would exhibit sustainable power output. Needless to mention, with governmental initiatives playing a crucial role, the growth prospects of distribution panel market in expected to traverse along a lucrative growth path in the ensuing years. As estimated by Global Market Insights, Inc., distribution panel market will surpass a global valuation of USD 7 billion by 2024.
North America Distribution Panel Market, By End Use, 2016 & 2024 (USD Billion)
Elucidating the regional distribution panel market trends with regulatory frame of reference:
China distribution panel market is expected to depict remarkable growth trends in the coming years, as the country is targeting to enhance its power grid sector and considerably cut CO2 emissions. According to reliable sources, China is one of the most populous nations and accounts for 23% of world energy consumption which makes it the second largest consumer of electricity after Unites States. Contributing to such a major chunk of the power grid sector, China’s stance in the regional trends of distribution panel industry has become increasingly influential. Acknowledging the region’s vast energy demand, the Government of China has been introducing several electrification projects and is further focusing on revamping the existing grid network.
Citing a relevant instance, the Government of China has put forth its ambitious plan of investing USD 530 billion toward the deployment of smart grid network of which more than 18 billion US dollars will be used to improve the distribution capabilities. This, by extension, is expected to have a substantial impact on the growth of the regional distribution panel market. Besides, it is also prudent to mention that the China government is actively working toward cutting its carbon intensity to 18% below its current levels by 2020. This target would have a significant impact on distribution panel market, given the deployment of efficient power grid network for reducing transmission & distribution loss.
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With more than 508 million euros invested in refurbishment and smart grid deployment activities in the region, France is recently drawing a great deal of attention from distribution panel industry players. The regional energy sector is witnessing a dynamism of sorts, with stringent governmental mandates toward installation of energy efficient systems, to balance the energy consumption ratio. For instance, in a bid to support further electrification development, France’s National Energy Efficiency Action Plan has laid down its ambitious efforts to reduce the overall energy consumption of existing building structures by 38% by 2020. Besides mandatory governmental rollouts, the consumer demand for smart grid-based services in the region is also expected to increase by multiple folds – according to reports, the country has over 118 smart grid projects, presently. Powered by these dynamic initiatives focused on optimized energy consumption, France distribution panel market is claimed to surpass a valuation of USD 160 million by 2024.
Rising electricity demand and increasing funding for rural electrification projects have set lucrative grounds for Egypt distribution panel industry players. The Egyptian Electricity Holding Company, for instance, has entered into strategic agreement with the Banque Misr and National Bank of Egypt to lend EGP 19 billion for replacing and installing panels, electrical cables, and distribution boxes, in a bid to enhance energy efficiency. Another prominent name is of The South Delta Electricity Distribution Company, that topped the chart in terms of rates of implementation of its investment plan at 42%. Reportedly, the company aims to install 57 low-voltage panels, 2,685 medium-voltage towers, 322 kiosks, 104 medium-voltage panels, 126 kilometers of low-voltage connectors, and 379 transformer substations. Apparently, such combined efforts of the private & governmental bodies, in all likelihood, are expected to stimulate the regional distribution panel market size. In fact, according to estimates, Egypt distribution panel market will register an annual growth rate of 7% over 2017-2024, pertaining to the extensive measures to strengthen its power distribution infrastructure.
Stringent regulatory norms emphasizing on lowering distribution losses has been one of the prime factors fueling the U.S. distribution panel industry. Governmental effort in adopting high end electric equipment and upgrading power grid infrastructure have, in turn, surged the demand for distribution panels in the region. A significant validation to the fact being the country’s soaring expenditure on electric and gas utilities, which according to reports climbed from USD 69 billion in 2008 to USD 115 billion in 2015. Taking into account the escalating improvements in electric grid infrastructure, the regional distribution panel market as per industry analysts is expected to amass lucrative gains in the years ahead, having crossed the billion-dollar frontier in 2016.
The above-mentioned data clearly depicts that the extensive deployment of legislative programs with regard to optimal power transmission and energy utilization will augment the revenue graph of global distribution panel market. Further analyzing the aforementioned trends, it wouldn’t be wrong to quote that the emerging economies are slated to be a prominent investment hub for global distribution panel market stakeholders. A major trend to watch for in this fraternity is the role of the robustly expanding real estate sector and its dynamic impact on the distribution panel industry share. All in all, with green revolution proactively penetrating the energy and infrastructure sector, distribution panel market is certain to witness remarkable proceeds in the coming years, with a target CAGR of 5% over 2017-2024.
Author Name : Ojaswita Kutepatil