How will North America microgrid market go on to become a business vertical worth USD 7 billion by 2024?
Some of the pivotal factors that have propelled North America microgrid market growth over the recent years are the governmental & regulatory inclinations toward network expansion and the rising financial backing to support such projects. Increasingly becoming the most resilient and sustainable options for industries to provide continual operation during blackouts and natural disasters, microgrids are becoming the essentials of the energy and utilities sector. A substantiation validating the aforesaid is that of a report by the Federal Energy Regulatory Commission that claims the utilities across the U.S. to have invested nearly USD 35 billion in 2016 for the expansion of the energy transmission network.
U.S. Microgrid Market Size, By Storage Device, 2017 & 2024 (USD Million)
Rising adoption of renewable energy technologies to impel North America microgrid market size
Quite overtly, the spending on energy infrastructure to deliver power to businesses and households has increased remarkably in the past decade and is replacing the conventional poles, station equipment, and overhead lines and devices. With the rising penetration of renewable sources in the mainstream electricity supply, the operational dependability of the grid network has become an intricate issue for the power giants. In fact, several eminent companies are generously investing in microgrids for seamless integration and distribution of clean energy.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2833
Recently in 2017, Ameren Corporation unveiled the completion of one of the most highly advanced utility scale microgrids in the North America microgrid market. As a part of its commitment toward building a smart and clean energy infrastructure, Ameren has built a microgrid facility with advanced automation & battery storage. The facility will also test, monitor, and control methods for aggregating renewable & clean energy sources from natural gas, solar, and wind. Reports claim that the Ameren microgrid has a significant production potential of up to 1475 kilowatts, which is enough to power more than 190 households and will be contributing immensely to the expansion of North America microgrid industry share.
North America microgrid market to be swayed by the rise in product demand from the military
Greater reliance on fossil fuel in remote & rural regions in the world is a vulnerable point in military operations, and the results could be devastating, given the transportation challenges. A microgrid solution, in this regard, has not only enabled an installation to generate its own power for the military sector but has also provided protection against cybersecurity risks. These grids have significantly met the needs for stable electricity supply and that too without relying on a larger regional grid that is more averse to interruption and compromises.
To illustrate further, under its Smart Power Infrastructure Demonstration for Energy Reliability and Security (SPIDERS), the U.S. military is aiming to deploy microgrids to supply power in the event of attack or loss of the utility grid. The program is also focusing to integrate solar PV and the diesel backup generators in order to provide diverse fuel sources, enabling uninterrupted power and lower carbon emission.
Recently, the U.S. Department of Defense, in this regard has issued a solicitation for multiple microgrid projects in the military sector that will assess large-scale energy storage. It is also imperative to mention here that the U.S. DOD is the largest petroleum & fossil fuel consumer and greenhouse gas emitter in the world – which is also one of the many reasons why U.S. military are looking at renewable energy microgrids.
Taking into consideration the aforementioned scenario, it wouldn’t be wrong to say that the U.S. military has become one of the significant investment ground for potential North America microgrid industry investors. Further powered by government backing and funding advances, the military microgrid projects are expected to be more secure & reliable and are poised to be a lucrative sector of the North America microgrid industry, which according to reliable reports is expected to surpass 7 billion by 2024, with a capacity expansion of 3 GW.
Author Name :Ojaswita Kutepatil
The emergence of several renowned automakers in all-terrain vehicle market is likely to have a major imprint on the future of ATVs. For instance, German-based world-class automaker, Mercedes-Benz revealed its E-class ATV in 2018. In the newly revealed ATV, the company included several advanced features such as sports beefier bumpers, plastic underbody protection, and typical body cladding focusing on consumer requirements.
U.S. All-Terrain Vehicle (ATV) Market, By Application, 2018 & 2025, (USD Million)
In addition, another well-known automaker, Jaguar made it to the headlines a couple of years back for planning to make various design variations in its Range Rover platform to make it feasible for ATVs. The development of highly advanced ATVs comprising various innovative features such as keyless entry, Wi-Fi hotspot, and powered gesture tailgate will thus boost all-terrain vehicle (ATV) industry share over the years ahead.
Furthermore, it is imperative to state that Honda has also developed an autonomous ATV for off-road work such as firefighting, rescue missions, and agricultural purposes, in which the company has implemented varieties of attachments that would help carry out the aforementioned functions. The deployment of such multipurpose ATVs, undeniably, is slated to stimulate all-terrain vehicle market outlook.
With the surging inventions of novel agricultural equipment, farmers have been working toward major land cultivation, focusing on increasing productivity. The availability of innovative farming equipment has indeed reduced the generation gap between tradition and present farming technology. The involvement of technology in the agricultural sector is thus likely to prove beneficial for the smoother transition of agricultural management to next generation farming, setting the base for the expansion of ATV market.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/765
Most of the farmers are increasingly becoming adaptable to the use of technologies for improving overall farm productivity. For the record, the adoption rate of such technologies is higher in U.S. as compared to the other countries.
As per Global Market Insights, Inc., over the coming years, North America will cover a substantial proportion of all-terrain vehicle market, owing to surging use of such technologically advanced equipment for forestry and agricultural purposes. Apart from that, the regional growth will also be driven by the presence of myriad industry contenders across the United States and Canada.
At present, ATVs are prominently gaining popularity across the defense sector, pertaining to their ease of application for border patrolling and other military activities. These vehicles offer advanced off-road technology and superior mobility at a very affordable price, which is one of the factors driving all-terrain vehicle industry size. In fact, several regional governments have also been establishing joint ventures with leading giants in ATV market.
For instance, in 2017, the United States Marine Corp. has signed a contract with the renowned leader in off-road vehicle production, Polaris Government and Defense in order to improve its marine operational capabilities with the deployment of utility task vehicles. Taking into account the increasing requirement of ATVs for defense applications, Polaris is investing significantly in research and development activities to improve the handling of vehicles for a highly responsive ride and enhanced maneuverability. Indeed, this validates that continuous product enhancements of robotic vehicles will certainly fuel ATV industry share.
Considering the vast expanse of all-terrain vehicle (ATV) market, companies have been constantly focusing on new product developments in order to expand their product portfolios. In fact, performance and versatility are the major design factors that researchers have been concentrating on, of late.
The increasing upgradation in existing vehicle technology with advanced infotainment systems and installation of advanced safety features, undoubtedly is slated to propel all-terrain vehicle (ATV) industry share. As per estimates, global all-terrain vehicle (ATV) market size will surpass USD 3.3 billion by 2025.
Author Name : Sunil Hebbalkar
Unveiling smart electric meter market trends in terms of regional landscape, global industry landscape to be characterized by governmental undertakings over 2018-2024
Smart electric meter market over the recent years has garnered considerable traction in the sustainable ecosphere. Endowed with improved connectivity & advanced features, smart meter technology has emerged as a viable alternative to conventional meters. Indeed, this extraordinary evolution from the conventional models to their smart counterparts has ensured a lucrative growth for the overall electricity sector, which is rather a focal vertical for the energy saving rollouts. Evidence in support of the aforesaid is smart electric meter market valuation of over USD 7 billion in 2017, led chiefly by favorable governmental initiatives and sustainable energy mix protocols. A report by Global Market Insights, Inc., claims that with further awareness regarding climate change & GHG emissions, the worldwide smart electric meter market is likely to surpass annual installations of 190 million units by 2024.
UK Smart Electric Meter Market Size, By Application 2015-2024 (Million units)
Elaborating further, the recent years have remarkably witnessed smart meters penetrating the utilities domain mainly on the cusp of rapid growth in industrial IoT. The technology adoption has ensured a more accurate real-time power diagnostics and billing. These meters are enabling consumers to optimally utilize the energy, further reducing the overall carbon emissions. In fact, analysts foresee a mass acceptance of this environment-friendly and cost-effective technology in the electric domain, which will have a pronounced impact on the global smart electric meter market trends.
Particularizing on the geographical landscape, the year 2017 witnessed China accounting for more than 70% of smart electric meter market share across the Asia Pacific belt. Reports claim that the country’s 12th and 13th five-year plan that includes development of smart cities has generated extensive demand for effective water and electricity monitoring, which in turn have positioned China into a favorable business ground for smart electric meter market players. Add to it, the Asian Development Bank’s support in smart meter roll-outs in line with the adoption of smart-grid & sustainable technologies have phenomenally impacted the regional trends.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1503
India has also recently entered the global smart-meter deployment race and has emerged as the next lucrative growth ground for potential stakeholders. The country has recently grabbed the headlines with its move to replace 40 lakh conventional electric meters with the smart ones. The move is headed by the UPPCL (Uttar Pradesh Power Corporation) in association with EESL (Energy Efficiency Services) that aims to address the state’s energy efficiency woes and ensure customer convenience. Another important move fortifying the regional smart electric meter market share is of the Bihar state energy department, that aims to install 200,000 prepaid smart electricity meters in cities including Ara, Patna, Bhagalpur, and Aurangabad. Experts deem the Rs 800 crore (approximately USD 117 million) project to offer fair investment opportunities, in turn categorizing India into one of the profitable avenues for expansion of the smart electric meter industry.
Smart electric meter deployment trends are also catching up in other prominent regions including Germany, UK, the United States, and Canada. As per estimates, U.S. smart electric meter industry share is set to cross the billion-dollar mark by 2024. As per a EIA report in 2015, smart meter deployment across the residential sector in the U.S. stood at 40%. Also, the regional electric utilities registered an AMI (Advanced metering infrastructure) installations of over 70 million till 2016. UK on other hand is targets to deploy 50 million smart meters in 30 million households by 2020, with an aim to lower the domestic energy consumption by 5 to 15%.
Analyzing these geographical trends, it comes as no surprise the smart electric meter industry will bring about a revolution of sorts in the utility sector. Analysts deem that this business sphere is all set to witness steep growth with more than 190 nations taking part in the UN Climate Change Conference to reduce emissions. Toshiba’s Landis+Gyr, Silver Spring Networks, Siemens, Itron, and Schneider are some of the prominent smart electric meter providers working in tandem with system integrators like IBM and Accenture to further take the global smart electric meter market size to new heights of expansion.
Author Name :Ojaswita Kutepatil
U.S. smart water metering market to record huge gains over 2017-2024, high adoption across the residential sector to accelerate the regional growth
As the world experiences a tremendous need to conserve natural resources such as water, smart water metering market will gain considerable traction, subject to the rising demand for efficient water consumption. Smart meters help record real-time data and reduce water bills, thereby enabling water conservation. Indeed, water conservation has emerged as a pivotal need of the hour, as is evident from the efforts taken for the same across myriad geographies. Recently for instance, The Nature Conservancy and PepsiCo declared new water conservation projects in the Southwestern United States. PepsiCo in 2016, had also announced that it plans to return all the water used by the company in the manufacturing operations, back to the same watershed from where it was taken, by 2025. The deployment of smart water meters will augment the rising efforts to save water and prevent its unnecessary wastage, thereby stimulating smart water metering industry. A report by Global Market Insights, Inc., states that smart water metering market, worth more than USD 900 million in 2016, will register a revenue of more than USD 3 billion by 2024.
France Smart Water Metering Market Size, By Application, 2016 & 2024 (Million Units)
Smart water metering industry is stringently controlled by a regulatory framework, owing to the norms enforced with regards to the conservation of water. As per the EC Directive 2000/60/EC, it is mandatory for respective nations to prioritize the prevention of water wastage and water conservation, especially in drought-ridden areas of the region. Technologically, smart water meters can be deployed based on two key technologies – automatic meter reading (AMR) and automatic meter infrastructure (AMI).
AMR-based smart water metering market is slated to accomplish quite some valuation by 2024, driven by the easy availability, affordable maintenance, and low installation costs that this technology is endowed with. Indeed, AMR has been massively deployed in smart electric meters as well, gradually stimulating global smart electric meter industry share.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/697
Smart meters help curb water losses and streamline billing processes. In this regard, water utilization data gathered by AMI-based smart meters help to identify problems in water distribution and manage water allocation in an efficient manner, which eventually serves to understand consumer requirements. On these grounds, it has been forecast that AMI-based smart water metering market size is slated to register a stupendous CAGR of 28% over 2017-2024. While AMI technology is relatively advanced, it is prudent to mention that its excessive cost may restrain its growth over the next few years.
Smart water meters, in general, find massive applications across the commercial, residential, and utility sectors. Smart water metering industry size from residential applications has been projected to cross the billion-dollar frontier by 2024. This commendable accomplishment can be credited to the increasing demand for precise water bills and the accurate formulation of unregulated spending on water resources. Indeed, smart meters also possess the ability to reduce non-revenue water & secure remote monitoring, further expanding the scope of smart water metering industry from the residential arena.
The United States is one of the most foremost growth grounds for smart water metering market. Incidentally, Glendale was the first city in the United States that set a benchmark for better utility management and responding to unexpected natural calamities such as droughts, by means of implementing smart meters to develop a smart grid network. The rising adoption of smart water meters will thus majorly drive U.S. smart water metering industry. Not to mention, the region has a strict regulatory frame of reference in place, which would serve to drive smart water metering industry.
Water conservation has emerged to be an issue of global concern, given the depleting sources of water across numerous geographies. Efforts are being undertaken at a governmental as well as provincial level in order to address the problem. Say for instance, the Indian and Israeli governments have recently inked a MoU, according to which both the nations would work side by side at the national and international level for designing, implementing, and monitoring a ‘National Water Conservation Campaign’ prioritizing water conservation. Not to mention, numerous companies partaking in smart water metering market are engaged in periodic mergers and acquisitions to consolidate their position in this business space. Aided by a strong legislative framework and the efforts undertaken by myriad companies and provincial governments, smart water metering industry is likely to chart out a profitable growth path over the forthcoming years.
Author Name : Saipriya Iyer
AMR-based smart gas metering systems market to depict remarkable growth over 2017-2024, U.S. to witness massive adoption rate
A fundamental vertical of the sustainable & smart technologies industry space, smart gas metering systems market has evolved as a highly lucrative business sphere. The increasing consciousness regarding energy conservation and saving has triggered the adoption of next-generation technologies that have outdone the traditional utilities used across the electricity sector. This paradigm shift has been taken note of duly by regional governments and regulatory bodies as well, that have been striving by the hour to adopt energy saving devices. Indeed, many regional governments have already begun to implement IoT based gas metering techniques across residential and commercial sectors, providing a major impetus to the overall smart gas metering systems industry outlook.
UK Smart Gas Metering Systems Market Size, By Application, 2016 & 2024 (Million Units)
Given that energy conservation has emerged as a major global issue of concern, smart gas meters have been forecast to help toward building an efficient energy network in the near future. Having recognized their potential, numerous governments, have started deploying high-tech smart meters in order to provide the benefits of clean energy products and digital technologies to grid operators and homeowners. The British government has been particularly proactive in this regard, and even plans to deploy next-generation smart gas meters for individual household usage. This installation is certain to help consumers monitor energy supply and tariff for time-based energy usage.
As per reliable estimates, the United Kingdom presently has around 7.7 million smart gas and electricity meters installed across the nation. Indeed, the UK government aims to have close to 53 million smart meters live by the end of the decade. UK’s mission is being actively supported by Landis+Gyr, one of the key players of smart gas metering systems industry. In fact, the firm has been working on a special technology for years and has recently rolled out the SMETS2 for British Gas customers. SMETS2 is apparently renowned for seamlessly switching energy suppliers post installation and would help to bring about novel innovations in smart gas metering systems industry.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1234
Similar to Landis+Gyr, numerous other companies in smart gas metering systems market have been striving to bring about unique product offerings, on the grounds of which they have been inking strategic agreements with leading firms. In 2017, SK Telecom signed a MoU with Chongqing Gas, the Economic and Information Commission of Chongqing Province, and China Mobile for developing IoT assisted remote gas metering systems across Chongqing. The arrangement enabled users to monitor gas usage through smartphones in addition to helping metermen detect potential gas leakage. The ability of such utility devices to be operated via smartphones and desktop PCs will boost product demand, thereby driving smart gas metering systems market trends.
The adoption of smart gas meters has observed an escalating rise lately, pertaining to their incredible benefits. In accordance with the same, governments have been taking the necessary steps to implement a next-generation energy network, apart from the aforementioned initiatives. Energy companies have also been looking forward to innovating products with maximum operational efficiency. Research & developments programs are thus rampant in smart gas metering systems market. All in all, powered by a highly supportive regulatory landscape and a proactive competitive spectrum, smart gas metering systems industry size has been forecast to surpass USD 9 billion by the end of 2024.
Author Name :Sunil Hebbalkar
Smart metering systems market to be characterized by the growing deployment of smart grid networks, supportive energy efficiency norms to boost product demand over 2018-2024
The shifting trends toward a smart power infrastructure have been considerably influencing smart metering systems industry share. Of late, analog meters are being extensively replaced with digital meters in various residential, commercial, and industrial sectors, owing to their precise energy measuring capability. Taking into account the growing deployment rate and popularity of smart meters, many giants in smart metering systems market are focusing on brainstorming and manufacturing advanced versions of the existing products. In addition, it would be prudent to mention that regional government bodies have a pivotal role to play when it comes to the progress of smart metering systems industry.
UK Smart Metering Systems Market Size, By Application, 2017 & 2024 (Million Units)
The competitive hierarchy of smart metering systems market is inclusive of quite a few prominent big shots that have been adopting strategies like facility expansions and acquisitions to consolidate their space in this business and explore the plethora of opportunities that this vertical offers. Long-term contract agreements between product suppliers and manufacturers is also rather commonplace, in order to meet the ever-rising demand for these products. Merely a few days ago, a smart metering technology company, intelliHUB acquired the digital smart meter subsidiary of Origin Energy Australia Origin for USD 267 million. The acquisition comes on the heels of the fact that the rate of smart meter installations across South Australia, Tasmania, Queensland, and New South Wales (NSW) has been growing commendably, providing novel opportunities for APAC smart metering systems market firms. In fact, estimates claim that in the aforementioned regions, the number of smart meter installations have hit 400,000.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1180
Sustainable energy consumption has lately emerged as a new trend across the globe for reducing energy consumption. In fact, governments of various countries are encouraging the masses to adopt smart utilities for commercial as well as residential purposes. For instance, the European Union (EU) has decided to replace more or less 80% of the electricity meters with smart meters by the end of 2020. In this regard, in 2016, the EU circulated a proposal requesting all consumers to deploy smart meters. Based on the guidelines provided by the European commission, many EU countries have already implemented the policies, quite overtly propelling smart metering systems industry size. The shifting trends toward the development of smart cities are also poised to augment product demand, thereby impelling smart metering systems industry share in the ensuing years.
It would be imperative to state that with the rise in the deployment of smart metering systems, concerns regarding data security have also increased. In order to resolve the same, smart metering systems industry contributors have been ensuring that advanced security features are integrated in smart metering system utilities. The advent of new technologies such as augmented reality, IoT, and cloud computing have made it easier for this to happen, as their deployment for data security has been stimulating software enabled smart metering systems market share.
The launch of advanced products integrated with different types of functionality has been giving rise to potential new opportunities for smart metering systems market firms. Additionally, a slew of investments are pouring in for product development and facility expansions, further influencing the industry growth. Powered by favorable governmental strategies related to the deployment of these products across residential as well as commercial sectors, smart metering systems market size is expected to cross USD 21 billion by 2024.
Author Name : Sunil Hebbalkar
Escalating demand for sustainable energy systems across the commercial landscape to bolster solar tracker market outlook over 2019-2025
Global solar trackers market is anticipated to accumulate commendable proceeds over the forecast spell owing to emerging concerns pertaining to changes in climate condition. These changes have given rise to numerous government mandates encouraging the adoption of solar energy systems to cater to the growing demand for electricity due to rapid commercialization and urbanization, in turn boost industry demand.
Additionally, many regulatory norms regarding the mitigation of carbon emissions and specific emphasis on efficient and sustainable energy consumption are likely to add impetus to solar tracker market growth in the coming years.
Several targets for sustainable energy have been put forth by governments worldwide in order to proliferate the implementation of photovoltaic (PV) generation systems, thereby fueling solar tracker industry dynamics.
Moreover, industry demand is further bolstered by the product’s beneficial characteristics including reduction in energy costs and high CUF. As per estimates from credible sources, global solar tracker installations are expected to surpass 30GW by 2025.
Get a Sample Copy of this Report@ https://www.gminsights.com/request-sample/detail/364
As environmental concerns continue to surge, myriad policies and strict mandates have been established across the commercial and utility sectors, encouraging industry players to inhibit their carbon footprints through the adoption of sustainable energy systems.
Growing expenditure towards the construction of commercial infrastructure, including hospitals, shopping centers, and schools has accelerated the deployment of solar panels to accommodate the demand for continuous supply of electricity.
Consumers, over the recent years, are beginning to make higher use of solar trackers in efficient energy systems, with the goal of augmenting the capacity utilization factor and reaping the benefits through tax credits, incentives, and subsidies.
Furthermore, solar tracker market forecast will be further driven by diminishing PV engineering costs combined with high electricity rates for commercial organizations.
Taking into consideration the product spectrum, the dual axis solar tracker segment is poised to amass hefty proceeds in the years ahead, given its strong capability for providing two-degree flexibility, leading to a nearly 45% improvement in energy generation as compared to its traditional PV counterpart. As a result, dual axis solar tracker systems are witnessing robust demand across Concentrated Solar Power (CSP) and Concentrator Photovoltaics (CPV) power plants.
In fact, these energy systems observe widespread acceptance across many industries due to their high-performance level as opposed to alternative energy sources, which in turn would impel solar tracker industry growth.
Dwindling solar panel costs alongside the enactment of ongoing strict environmental initiatives have resulted in extensive installation of solar trackers in North America. Due to their declining supply chain costs and enhanced module performance, PV tracker systems have seen a substantial rise in demand over the past few years. Manufacturing companies are making heavy investments towards R&D endeavors to further enhance the overall efficiency of the solar power system, thereby complementing industry outlook.
Optimistic outlook towards the deployment of photovoltaic systems across North America is expected to bolster solar tracker market size. In order to achieve a competitive edge over other market players, enterprises are largely focused on producing low-cost and efficient energy products.
Author Name : Saloni Walimbe