ENERGY

Unveiling the competitive spectrum of diesel generators market: technological advancements to drive the industry landscape over 2019-2025

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The global diesel generators market is poised to witness a remarkable growth curve in the coming years due to inadequate power supply, which is driven by the surge in the demand for continuous and reliable power. Gensets are massively utilized across data centers, transportation and communication systems, pharmaceutical industries, healthcare and manufacturing facilities, and more. In addition, notable investments across construction, mining, and oil & gas sector would further enhance the demand for diesel generators market in the upcoming years.

U.S. Diesel Gensets Market Size, By End Use, 2018 & 2025 (USD Million)
U.S. Diesel Gensets Market Size, By End Use, 2018 & 2025 (USD Million)

The introduction of several government aided ventures for reinforcing the significant expansion of industrialization and infrastructure, will bolster the diesel generators market growth. For example, the rising real estate construction ventures coupled with the ongoing implementation of smart city projects in India have opened huge market opportunities for the manufacturers of generator sets. Similar to this, the enforcement of the 13th Five-year plan of China has appreciably widened the gensets’ deployment potential across a number of industries. With such initiatives from countries across the globe, it is overt that the diesel generators market share will witness an upsurge in the years to come.

Speaking of initiatives, it is vital to mention that governments across the Middle Eastern countries such as the UAE and Saudi Arabia have been undertaking robust moves in a bid to diversify their oil-based economy along with numerous ventures in other industries. The region is also ablaze with a number of massive projects such as the Qatar FIFA World Cup 2022 and the Dubai World Expo 2020 that will quite overtly command the requirement for numerous gensets in order to support the massive construction activities. Powered by extensive regional infrastructure expansion and the rising focus on economic diversification, Middle East diesel gensets market is all set to witness quite some growth over 2019-2025.

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The expansion of the diesel gensets industry can also be credited to the market conglomerates that have been relentlessly striving to augment their product portfolios and bring forth novel products to the market. Prominent companies partaking in the diesel generators market share have also retained focus on technological innovation as well as emissions compliances. However, cost competitiveness and extended service & distribution network have also remained pivotal strategies adopted by companies to enhance their stance across this industry. A gist of contribution by few notable companies in the diesel generators market is mentioned below:

Cummins Inc.

A few days ago, U.S. based Cummins, Inc. was stated to be the first power generator producer to obtain the 2018 International Building Code (IBC) seismic certification, which offers minimum requirements for protecting the public safety, health as well as general welfare of the occupants of existing and new buildings and structures.

The IBC certification guarantees that Cummins generators would remain functional and intact during and after seismic activity. This certification is applicable on a range of Cummins’ products, from 2750 kilovolt-amperes (kVA) to 706 kVA within a standby application product offering of 50 hertz (Hz), and products between 2250 kilowatts (kW) and 603 kW within its 60 Hz offering.

The IBC also governs standby and emergency power systems utilized in structures and buildings covered by the code. It said that the power systems are required to be designed and constructed to be aligned with the National Fire Protection Association (NFPA) 70 standards. Certifications like these will increase the safety and security factor of the product among customers, which in turn will propel the diesel generators market over 2019-2025.

Kirloskar Group

Recently, the Kirloskar Oil Engine Ltd., (KOEL) has introduced a portfolio of its latest products. A range of technologically advanced intelligent diesel generators (DG), known as the i-Green series, was launched by the firm. The product is equipped with a remote control monitoring feature, which would allow monitoring of the set, crossing the barrier of location, along with multiple access of parameters on the control panel via mobile phones.

Furthermore, this set would switch off once the grid power is on, and switch on once the grid power is off, as it comes within a built AMF panel. KOEL’s i-Green range guarantees a new look to the gensets, coupled with a commitment from the company towards a greener environment. Such efforts would drive the demand for new and advanced gensets, which will result in the growth of diesel generators market.

Considering the aforementioned efforts undertaken by notable industry players, it is clear that the diesel generators market would depict significant growth in the upcoming years. The competitive spectrum of this industry is quite diverse, and consists of renowned companies like Mitsubishi Heavy Industries, Atlas Copco, Ashok Leyland, Generac, Caterpillar, Greaves Cotton, Himoinsa, SDMO, Briggs & Stratton and Wärtsilä among others..

Author NameSaurav Kumar

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Unveiling medium voltage (MV) switchgear market trends from the application terrain: global industry valuation to surpass US$50 billion by 2025

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The MV switchgear market has, of late, been experiencing appreciable growth on account of the rising electricity demand along with the increasing need for effective power transmission & distribution (T&D) control systems. An influx in the concerns associated with fire, electricity supply faults, health and various related hazards aligned with the lack of efficient electrical network across a number of emerging regions will the steer the growth of this industry in the upcoming years. Indeed, the safe and reliable operations, cost effectiveness and ease of installation of the products are also some of the notable parameters which will favor the business outlook of MV switchgear market in the years to come.

Medium Voltage Switchgear Market, By Voltage, 2018 & 2025 (USD Million)
Medium Voltage Switchgear Market, By Voltage, 2018 & 2025 (USD Million)

The increasing demand for energy, which is complemented by the consumer’s positive inclination toward renewable electricity infrastructure will further propel the landscape of MV switchgear market in the predicted timeline. The growth of this industry can also be attributed to the ongoing suburban migration along with the favorable regulations enforced by the regional governments. These regulations have been suitably mandated to ensure a safe and healthy livelihood for residents, which has resulted in the urbanization and commercial expansion across the globe. In addition, an incessant growth in the demand for peak loads across developing nations has pushed utilities and installers to upgrade and upscale flexible electricity supply components for reinforcing reliability and grid security.

In essence, the increasing demand for energy supported by the growing need for an efficient power distribution infrastructure will drive the MV switchgear market in the ensuing years. The product finds ample deployment across a slew of applications, a brief of which has been enumerated below:

MV switchgear industry trends from the residential sector:

The residential sector is estimated to be a viable revenue stream for MV switchgear market, due to the  rising population coupled with increasing residential infrastructure across the globe. The product, on account of its ability to reduce the incidences of fire accidents and electricity supply faults, is extensively deployed across a number of households and residential properties. Given the massive demand for switchgears across numerous residential establishments, the global MV switchgear sector is slated to witness a notable rise in terms of revenue from residential applications in the years ahead.

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Citing an instance of the contribution of administrative bodies toward impelling MV switchgear market share from residential applications, it is pivotal to mention that the Indian Government, in conjunction with the governments of the respective states, has been highly proactive in undertaking initiatives to encourage the residential development in the nation. One of the major initiatives is the ‘Pradhan Mantri Awas Yojana (PMAY)’, under which over 6.85 million houses have been sanctioned up till December 2018.

Additionally, under PMAY, around 1,427,486 houses have been sanctioned in 2017-18. The construction of additional 3,21,567 affordable houses was sanctioned in March 2018, under this scheme. The rising number of household setups will drive the demand for MV switchgears owing to the parameter of safety from electricity supply faults and fires, which in turn will propel the growth of MV switchgear market from residential applications over 2019-2025.

MV switchgear industry trends from the commercial sector:

The commercial sector will come up as a prime application avenue for MV switchgear market in the forthcoming years. The robust expansion of the healthcare sector across the globe and the developments prevalent in the educational sector will prove to be the chief growth impetus for the MV switchgear industry from the commercial sector. Another factor which will extensively boost the industry share from commercial applications is the robust increase in the number of office establishments and manufacturing hubs across the globe.

Expenditure in commercial building construction, globally, is forecast to jump 8.9% to $482 billion in 2020, claims the Construction Economic Forecast analysis 2018. The expansion of the healthcare, education, recreation, office and manufacturing sectors is anticipated to support this growth. Furthermore, the healthcare industry is currently witnessing a turbulent global transformation. As the healthcare industry expansion escalates, there will be a spike in the demand for better healthcare infrastructure. Global healthcare costs, which are currently estimated between US$6 – US$7 trillion, are projected to jump to over $12 trillion in just seven years. The growing investments in the healthcare sector would thus escalate the growth of MV switchgear market in the forthcoming years.

Powered by an extensive application spectrum, it is quite overt that the MV switchgear market would amass renewed traction in the upcoming years. For the record, the MV switchgear market size is predicted to cross a valuation of US$50 billion by 2025.

Author NameSaurav Kumar

Two major trends propelling the U.S. VFD market: expanding EV sales to drive the regional industry growth over 2019-2025

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The U.S. variable frequency drive (VFD) market is projected to consolidate itself into an extremely lucrative investment avenue over the forthcoming years owing to the growing environmental concerns. Additionally, apart from receiving a sizable boost from the environmental preservation activities, the introduction of numerous standards & directives by local governments pertaining to the issue of utilizing energy in a more efficient manner is also expected to turn the U.S. marketplace into an avenue that would be immensely conducive for the overall growth of the nation’s VFD market. Moreover, rising industrialization and the ongoing urbanization trends would also be augmenting the industry landscape.

U.S. Variable Frequency Drive Market Size, By Power Range, 2018 & 2025 (USD Million)
U.S. Variable Frequency Drive Market Size, By Power Range, 2018 & 2025 (USD Million)

Furthermore, several technological enhancements coupled with increasing energy optimization demands across the nation’s electrical components, while promoting the adoption of micro power drives, have been responsible for fueling U.S. VFD market. These units facilitate precise control over the speed & torque with compact size, limited maintenance & high efficiency, which effectively eliminates the hesitancy factor that previously prevented OEMs from adopting VFDs for their electric systems.

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U.S. VFD market | Impact of the modernization of the nation’s natural gas industry

The U.S. shale industry has been experiencing a significant surge in production rates in recent years. In fact, a 2018 report by Forbes highlights an ongoing trend where the U.S. Energy Information Administration (EIA) has been continually increasing its 2019 natural gas production projection. In September of 2018, the EIA’s National Energy Modeling System upped its 2019 shale gas production forecast by more than 6.3% or 5.3 Bcf/d. The rig count in 2018 across the U.S. was pegged at approximately 198 with natural gas production at approximately 87 Bcf/d.

This increasing production rate is slated to be extremely beneficial for the U.S. VFD market owing to the ongoing modernization of the natural gas industry wherein the gas-assisted glycol pumps, that are extensively used across the industry, are being replaced by electric pumps. According to the U.S. Environmental Protection Agency, gas-assisted circulation pumps are the most commonly used pumps across the industry. However, in an effort to improve their operating efficiencies & reduce their emissions in a significant manner, enterprises are replacing their gas-assisted circulation pumps with electric pumps, which owing to their efficient VFD-powered operations, could save the operator more than $21,000 worth of gas on a yearly basis, thereby driving the U.S. VFD industry expansion.

U.S. VFD market | Impact of increasing electric vehicle sales across the U.S.

Owing to innovative technological advancements, electric vehicle (EV) sales have been witnessing a sharp upward trend in recent years. This increased demand, while driving electric vehicle production, has also been responsible for fueling the regional VFD market growth. The technological advancements have successfully turned EVs from a concept & novelty product to a serious contender that would be giving serious competition to the conventional internal combustion engine (ICE) powered vehicles.

According to a 2018 report by Edison Electric Institute (EEI), in the years between 2011 & 2018, the number of EVs running on roads across the U.S. has gone from zero to approximately 890,000. In the first two quarters of 2018, approximately 124,000 EVs were sold across the U.S. alone, up by about 40% when compared to the 2017 numbers.

While environmental factors & cheaper operating costs were initially responsible for driving industry demands, according to a report by the Union of Concerned Scientists, much of the recent increase in sales is being chalked up to the launch of new models with Tesla leading the charge with the launch of the Model 3, which notched more than 22,000 vehicle registrations in the first two quarters of 2018. Owing to the presence of industry leaders such as Tesla and Ford, the region’s EV market has been rapidly expanding, a fact that is slated to drive the U.S. VFD market to new heights over 2019-2025.

Attributing to these aforementioned trends, it is overtly clear that the U.S. VFD market has primed itself to attract exponential amount of growth over the coming years. The projection is further supported by a recent research report by Global Market Insights, Inc., which expects the U.S. VFD market to surpass the $3 billion renumeration mark by 2025.

Author NameSaif Ali Bepari

Micro combined heat and power market to be characterized by the launch of technologically improved products, government initiatives to impel industry expansion over 2018-2024

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Over the past few years, the global micro combined heat and power (CHP) market space has depicted remarkable growth owing to the outcomes of government mandates aimed at decarbonization of the economy and tackling climate change. The adverse impact of fossil fuel based transport systems coupled with industrial pollution are the most significant factors to have compelled governments across the globe to rely on renewables. Numerous countries have come up with a strict regulatory framework along with incentive programs to support alternative and more efficient energy sources, essentially fueling the micro CHP industry share expansion.

Europe micro combined heat and power market size, by fuel, 2017 & 2024 (USD Million)
Europe micro combined heat and power market size, by fuel, 2017 & 2024 (USD Million)

While elaborating on the measures currently being undertaken by major economies around the world, it would be prudent to take note of the recently modified Combined Heat and Power (CHP) Act of Germany. In line with the stricter regulations, the new CHP act supersedes the Renewable Energy Sources Act of 2000 and focuses on revamping the highly-efficient CHP facilities across the country. Through this act, the owners of CHP systems would receive incentives for the electricity generated via their co-generation facilities. Moreover, the new act intends to push electricity generation from CHP facilities to a commendable 100-terawatt hour (TWh) per annum by 2020 and 120 TWh by 2025, indicating the humongous growth potential of micro CHP market in the nation.

Besides government initiatives and mandates, the increasing demand for improved CHP systems across commercial and residential sectors has also pushed the micro CHP industry revenue which stood at USD 2 billion in 2017. Speaking along similar lines, several well-known market players have been unveiling advanced CHP systems incorporated with reliable technologies that are cost effective and environment friendly. Enumerated below are a few prominent instances that depict how the launch of new CHP systems has been shaping the growth outlook of micro CHP market:

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  • YANMAR America introduced a new EPA certified 35 kW micro CHP systems in 2016. Powered by natural gas, the CP35D1 and CP35D1Z models are 88% more efficient than the conventional power facilities. Especially, the CP35D1 has a built-in inverter instead of external inverters which makes it a true plug-and-play unit. With decreased carbon footprint, the new micro CHP system also operates like the previous 5 and 10 kW CHP systems from YANMAR. Improvements in installation, simplification of exhaust system, higher heat recovery efficiency, and reduction in the overall package size are amongst the many pathbreaking features of the newly launched micro CHP systems.
  • The leading manufacturer of micro combined cooling, heating and power generation equipment M-TriGen Inc., recently unveiled three new models of its trigeneration product range. Apparently, the new models have received authorization by Intertek and an ETL label which is a testimony to its higher performance and compliance with recognized safety standards. The new CHP systems have been specifically designed for government, military, light industrial, commercial, and residential applications. Moreover, the new models are equipped with gas heat pumps that enable customers to reduce peak load power requirements and save significantly on their electric bills.

The indoor CHP systems installed 10 to 20 years ago are being replaced with new systems in the recent past. Therefore, the demand for co-generation systems that have better energy saving performance and are easy to transport has witnessed a remarkable rise. Needless to mention, the launch of the aforementioned high-grade and enhanced micro CHP systems that are well-suited for healthcare facilities, restaurants, hotels, offices or multi-unit housing has been instrumental in impelling the growth prospects of micro CHP industry.

Owing to the proactive measures and initiatives being rolled out by various governments across the globe, the micro CHP market is slated to witness an annual installation of more than 3 GW by 2024. In addition to this, the growing deployment of sustainable energy technologies along with improvements in micro cogeneration systems would boost the commercialization scale of micro CHP industry in the forthcoming years.

Author NameSaif Ali Bepari

Electrical conduit market to garner commendable proceeds via residential and commercial applications, APAC to emerge as a profitable growth avenue

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The global electrical conduit market, in the past few years, has witnessed a remarkable escalation in terms of revenue share owing to the extensive revamp of ageing grid infrastructure across developed and emerging economies. Increasing emphasis on installing energy-efficient distribution networks and the integration of varied frequency transmission networks have been instrumental in stimulating the growth prospects of electrical conduit industry, which commanded a total valuation of over USD 5 billion in 2017.

U.S. Electrical Conduit Market Size, By Classification (USD Million)
U.S. Electrical Conduit Market Size, By Classification (USD Million)

Sensing the dire need to install sustainable grid networks, government and private institutions have been investing heavily in electrification programs – a factor that has further intensified the pace of industry share expansion. In addition to this, the deployment of smart control networking technologies along with improved on-site electricity generation schemes have drastically enhanced the product demand across various residential and commercial applications. In fact, as per a research report compiled by Global Market Insights, Inc., the residential and commercial applications together accounted for more than 50 percent of the worldwide electrical conduit industry share in the year 2017. A favorable regulatory framework across various geographies is expected to assist the residential and commercial applications segment to keep up the pace of growth in the near future.

A brief overview of how developing nations in APAC have impelled electrical conduit market trends

Growing inclination toward clean energy coupled with massive investments in the renewable sector have necessitated a complete overhaul of the existing grid infrastructure across major economies. In this regard, Asian countries have taken the lead in reforming their respective power sectors by launching a number of effective programs, essentially stepping up the commercialization potential of electrical conduit industry in the region. Moreover, various new initiatives are being rolled out to electrify far-off areas and rural hinterlands in the emerging countries of Asia Pacific.

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India

  • With the resolve to provide energy access to un-electrified rural and urban households, the Indian Government launched Pradhan Mantri Sahaj Bijli Har Ghar Yojana ‘Saubhagya’ in 2017. The ambitious scheme aims to attain the objective of universal household electrification throughout the nation, especially the underserved and unserved rural and urban pockets. With a total outlay of INR 16, 320 crores, the initiative intends to electrify nearly 300 lakh households across India.
  • The state-owned power distribution companies (DISCOMs) in the nation are known to be financially distressed for years. This has reduced the overall operational efficiency and aggravated the crisis of power losses in the distribution network. To tackle these challenges and work toward financial and operational turnaround of DISCOMs, the Indian Government had unveiled the Ujwal DISCOM Assurance Yojana (UDAY) in 2015. Needless to mention, such reformative programs aimed at changing the power scenario in the nation have propelled the regional electrical conduit industry in the recent times.

China

Given that the smart grid networks are increasingly gaining prominence across industrial peripherals, China has proposed humongous projects to modernize its energy infrastructure. As per its three-stage plan, the Asian powerhouse had announced that it would invest USD 240 billion between 2016 and 2020 to incorporate smart grid technologies. As the world’s largest electricity consumer, the three-stage plan would assist the nation in meeting its escalating electricity demand which is anticipated to double over the upcoming decade. Moreover, the Chinese government has been focusing on revamping the power distribution infrastructure across major industrials regions which would fuel the growth potential of electrical conduit industry in the country.

Concurrently, the leading companies manufacturing electrical conduits such as Zekelman, ANAMET, Cantex, Wienerberger, Electri-Flex, Champion Fiberglass, Mexichem, Legrand, Hellermann Tyton, Atkore, Astral, Aliaxis, Hubbell, Schneider, and ABB have been concentrating on developing products equipped with highly-efficient technologies and expanding the current facilities to ensure economies of scale, essentially boosting the revenue graph of electrical conduit market.

Author NameSaif Ali Bepari

U.S. energy storage market to be a part of the billion-dollar business cosmos by 2024, supportive government policies to add momentum to the regional industry

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The U.S. energy storage market share has been surging year on year as renewable energy utilization comes to the forefront replacing fossil fuel energy sources. According to experts, energy storage can become a market disruptor as it is fast emerging as a new technology with enhanced capabilities and cost saving that no incumbent technology can even begin to approach. As a result, energy storage capacity across the U.S. seemingly surpassed 1,000 megawatt-hours in 2017, which is a record in itself and has nearly doubled in 2018 adding another 1,000 megawatt-hours of capacity.

U.S. Energy Storage Market Size, By Deployment, 2017 & 2024 (USD Million)
U.S. Energy Storage Market Size, By Deployment, 2017 & 2024 (USD Million)

The U.S. energy storage market is anticipated to continue its exponential growth graph as storage continues to get cheaper, out-competing other resources, as a sea of change is registered in the mix of resources that run the power grid. Recent instances of contracts signed in the U.S. such as the NV Energy in Nevada and Xcel Energy in Colorado have also helped in furthering the prospects for U.S. energy storage industry.

While NV Energy has made it to the headlines with a contract to build 1000mega-watt of solar energy with 100 mega-watt of storage, Xcel Energy has set a new solar-plus-storage record with a median price of $36 per hour which is lower than the cheapest PV-plus-battery power-purchase agreement till date by as much as 20%. Many other such developments are in the pipeline that will allow solar production to extend past sunset and into the evening when demand peaks, making it competitive in respect to energy supplied by natural gas or fossil fuel resources.

Not only lowered cost for renewable energy resources but also state policies will also contribute towards the deployment of energy storage systems and consequently the expansion of U.S. energy storage market, with more batteries being installed in homes, businesses and along the power grid. A fact that deserves special mention is that the U.S. home energy storage in 2018 witnessed more deployment than the front-of-meter storage deployment in the last quarter of the year. According to the U.S. Energy Storage Monitor the residential segment led the way in energy storage deployment, growing tenfold year-over-year.

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Concentration for residential deployment of energy storage systems have been most noticeable in two states, namely, California and Hawaii, which have together accounted for 72% of megawatt-hours in the last quarter of 2018 while Massachusetts with its new SMART program and Arizona, is expected to see some new tariff structures, and is a key contender for the third spot in the residential segment of U.S. energy storage market.

The U.S. energy storage market has received a major boost from the fact that storage system costs have decreased roughly by two thirds over the last five years while more states have mandated utilities to procure storage systems. As consumers have come to realize that pairing batteries or energy storage with renewable energy projects improves reliability of power supply without creating greenhouse emissions, more homeowners and businesses are showing preference for power with backup energy storage and the option to capture and store excess energy produced in rooftop systems which can later be utilized after sundown, or when the wind is not blowing.

With large storage systems for utilities capturing a major portion of the U.S. energy storage industry and more utilities including storage in their solicitations for solar projects, U.S. energy storage market is expected to witness robust growth over 2018-2024. The U.S. energy storage market has been evaluated to amount to $4 billion by 2024 – a commendable upsurge from the $400 million worth in 2017.

Author NameParoma Bhattcaharya

Oil filled transformers market to surpass $45 billion by 2024, robust demand for energy-efficient solutions across urban locales to boost the industry growth

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ABB recently grabbed headlines in the global oil filled transformers market for its development of a robot for internal inspection of oil filled transformers. Apparently, the TXplore robot designed by ABB can work inside the complex environment of oil filled transformers and carry out internal inspections, a task which is rather costly and dangerous to humans. Downtime during human inspection of oil filled transformers not to mention the risk it poses to the human team as well as the cost to operator can be effectively reduced and, in some cases, entirely eliminated with the use of the TXplore. Application of the TXplore for inspections will not only mean lowering inspection times but will significantly contribute towards the expansion of oil filled transformer market as the product will become more easier to maintain.

Germany Oil Filled Transformer Market Size, By Mounting, 2017 & 2024 (USD Million)
Germany Oil Filled Transformer Market Size, By Mounting, 2017 & 2024 (USD Million)

The oil filled transformer market is expected to register a major upsurge as the global population will continue to grow while economic advancements will increase the demand for electric energy around the world. According to the World Energy Council, global demand for energy per capita will reach its peak in 2030 and demand for electricity will double by 2060 which will lead to greater infrastructure investments and major upheaval of the current systems to promote energy efficiency. The United Nations estimates that the world population will reach 8.5 billion by 2030. With increasing innovations and the use of electronic gadgets becoming more widespread and common, it is expected that there will be an exponential demand for electricity which is turn will add a substantial impetus to the oil filled transformer market.

It is noteworthy to mention that global electricity demand witnessed a 3.1% jump in 2017 and India and China together accounted for 70% of this rise, according to the International Energy Agency. Economic growth, widening of electric grids, rapid urbanization and expanding demand for electronic devices besides the huge population have contributed to the increase in demand for electric energy. The Agency cites that in China warm summers and robust economic growth of over 7% has contributed towards the growth while in India, 12% economic growth has done the same. These countries also have the largest population in the world. The oil filled transformer market is expected to register massive growth across the emerging economies, where energy demand is rapidly swelling.

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Speaking of the emerging economies such as India and China, it is imperative to mention that these countries would also be the seat for urbanization. According to another United Nations report in 2014 54% of the world’s population lived in urban areas, a proportion that is expected to reach 66% by 2050. Over the same timeline the world will be adding 2.5 billion people to urban areas with Asia and Africa consisting of 90% of the population. Pervasive electric supply is an essential element of urbanization and with the extensive supply of electricity, oil filled transformer market will register significant progress.

With urbanization boosting the demand for electric supply, city planners are looking for greener and more efficient solutions which has led to the gradual rise of smart grids and an over hauling of the existing electric grid system. While cities like New York and New Jersey are in the process of building microgrids to support the mass transit systems, French public lighting firm, Citelum, has announced projects for smart street lighting. Older cities where the electric grid system is already established but out of date, are witnessing major upgradations not only to make newer technologies available to the city but also to install greener solutions which will eventually contribute to a greener future for the world by increasing energy efficiency and mitigating energy loss during transmission. With urbanization and increased population that demands better electric facilities, a robust path of growth will be paved forward for the oil filled transformer market over 2018-2024, which is expected to exceed $45 billion by 2024.

Author NameParoma Bhattacharya