The global gas generator sets market is expected to expand at a 6.7% CAGR during the forecast period. Revenue from the sale of gas generator sets is expected to increase to USD 17,667.8 million by 2033, up from USD 9,237.2 million in 2023.
Several primary factors drive the gas generator sets industry’s development and acceptance. The growing need for dependable and continuous power supply across multiple sectors, including residential, commercial, and industrial, is a crucial driver.…
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Added by Latest Market Trends on August 21, 2024 at 7:45am —
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The fuel cells for stationary power market is poised for significant growth, with a projected valuation of USD 5,676.8 million by 2033. This expansion is anticipated to occur at a robust Compound Annual Growth Rate (CAGR) of 11.1% from its current market value of USD 1,981.4 million in 2023 (Future Market Insights, Inc.). This significant growth highlights the increasing adoption of fuel cell technology as a clean and efficient power solution for buildings and businesses.
A key…
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Added by Latest Market Trends on August 21, 2024 at 7:40am —
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The facility management services market is anticipated to grow at a compound annual growth rate (CAGR) of 5.4% over the forecast period. The facility management industry overview projects the market’s net worth to reach approximately USD 46,858.5 million by 2023. Moreover, FMI projects that at the conclusion of this forecast period, the total valuation would be close to USD 79,285.6 million.
The expansion of the facility management services market is fueled by factors such as…
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Added by Latest Market Trends on August 20, 2024 at 8:37am —
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The industrial air filtration market has achieved a commendable valuation of USD 32.2 billion in 2023. This upward trajectory is expected to persist, with an anticipated market value of USD 56.1 billion by 2033. Notably, this growth is supported by a robust Compound Annual Growth Rate (CAGR) of 5.7% projected throughout the forecast period. This consistent expansion underscores the market’s pivotal role in addressing urgent environmental concerns and its capacity to contribute to improved air…
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Added by Latest Market Trends on August 20, 2024 at 8:32am —
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The solar district heating market is anticipated to expand its roots at an average CAGR of 6.6% between 2023 and 2033. The market is expected to have a market share of USD 5.26 billion by 2033 while it is likely to be valued at USD 2.77 billion in 2023.
The lack of energy resources with the growing population and high energy consumption is visible. Governments around the world are planning to create sustainable, green, and nature-friendly energy supply. Thus, the demand for solar…
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Added by Latest Market Trends on August 20, 2024 at 8:26am —
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The green building materials market is expected to hold a valuation of USD 334 billion in 2023. The market is expected to record a CAGR of 11.2% during the forecast period. By 2033, the market size is expected to cross the mark of USD 962 billion.
Leaders worldwide have started taking measures to control carbon emissions. The Japan government announced that Japan would reduce emissions by 46% by 2030 relative to 2013 levels. Likewise, in December 2022, the United States government…
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Added by Latest Market Trends on August 20, 2024 at 8:21am —
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The global battery leasing service market size is anticipated to cross a valuation of USD 137.6 million in 2023. It is poised to attain a valuation of USD 684.3 million by 2033. The market is expected to exhibit a monumental CAGR of 17.4% from 2023 to 2033.
In recent years, there has been a noticeable rise in the demand for battery rentals for electric vehicles. Several countries’ governments have been compelled to employ green fuel technology in all of the key economic sectors as a…
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Added by Latest Market Trends on August 20, 2024 at 8:14am —
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The global composite insulator market is forecasted to demonstrate a robust 6.4% Compound Annual Growth Rate (CAGR) throughout the evaluation period spanning from 2023 to 2033. By the culmination of 2033, this trend is expected to culminate in a substantial market size of USD 6,413.1 million, increasing from USD 3,433.3 million in 2023.
The demand for composite insulators is growing due to their enhanced performance and durability over traditional materials. Composed of fiberglass…
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Added by Latest Market Trends on August 20, 2024 at 8:04am —
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The global battery energy storage system market was estimated to cross USD 18.5 Billion by 2023, and is expected to reach USD 52.9 Billion by the year 2033 at a double-digit CAGR of 11.1% between 2023 and 2033.
Energy is amongst the quintessential requirements for daily chores across commercial, private, and manufacturing verticals. At the same time, utmost care is taken to check on lower carbon emission frameworks during generation of energy. Battery energy storage systems (BESS) is…
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Added by Latest Market Trends on August 20, 2024 at 7:58am —
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The medium voltage drives market was valued at USD 1,680.2 million in 2023, and it is expected to grow at a CAGR of around 3.8% between 2023 and 2033, surpassing USD 2,439.7 million by 2033.
Growing customer interest in incorporating renewables, combined with stringent standards and norms focusing on the deployment of energy-efficient systems, will drive medium voltage drives demand.
Furthermore, rapid urbanization and industrialization in emerging economies and increased…
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Added by Latest Market Trends on August 20, 2024 at 7:54am —
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The digital substations market is anticipated to expand its roots at a steady CAGR of 7.7% between 2023 and 2033. The market is expected to have a market share of USD 15.1 billion by 2033 while it is likely to be valued at USD 7.23 billion in 2023.
The increased number of power stations along with the digital elements, and IoT deployment is flourishing the market growth. Furthermore, the developing countries electrifying their remote areas are choosing digital substations for the…
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Added by Latest Market Trends on August 19, 2024 at 1:13pm —
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The global district heating market was valued at USD 198 billion in the year 2023 and is expected to reach USD 340 billion by the year 2033 at a CAGR of 5.6% between 2023 and 2033. The district energy system implies providing heat to monitor temperature in residential, industrial, and business areas.
The central heat plant produces heat energy and the same is then distributed via well-established networks comprising insulated pipes. Generation of heat is controlled through combined…
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Added by Latest Market Trends on August 19, 2024 at 1:08pm —
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According to the FMI report, the global micro inverter industry generated USD 1.59 billion in 2021, and is estimated to generate USD 4.36 billion by 2032, witnessing a CAGR of 9.6% from 2022 to 2032.
Technical advantages over conventional solar inverters, design flexibility, and capabilities such as producing optimum power from solar panels drive the growth of the global micro inverter market. However, high cost of installation and maintenance restrains the market growth. On the…
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Added by Latest Market Trends on August 19, 2024 at 1:00pm —
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The global industrial PC market has exhibited remarkable growth, achieving a commendable valuation of USD 5 billion in 2021. Projections for the period spanning from 2022 to 2032 forecast a robust Compound Annual Growth Rate (CAGR) of 6%, culminating in an anticipated valuation exceeding USD 9.4 billion. This upward trajectory is primarily driven by escalating demand across diverse sectors such as automotive, oil & gas, electronics, and pharmaceuticals.
Industrial PCs have…
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Added by Latest Market Trends on August 19, 2024 at 12:54pm —
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The global industrial automation market is poised for substantial growth, with projections indicating a valuation exceeding USD 81.4 billion by 2033, driven by a steadfast Compound Annual Growth Rate (CAGR) of 7.2%. Starting with an initial forecasted value of USD 40.6 billion in 2023, the market lays a strong foundation for ambitious expansion in the coming decade.
A significant driver behind this impressive growth trajectory is the unwavering commitment to safety within industrial…
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Added by Latest Market Trends on August 19, 2024 at 12:47pm —
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As per a new market research report published by Future Market Insights, the global electrical digital twin market is anticipated to increase significantly, progressing from USD 1,085.9 million in 2023 to USD 3,342.7 million by 2033. Throughout this projected period, the market is expected to experience substantial growth with a strong CAGR of 11.9%.
The increased acceptance of innovative technologies such as IoT and cloud for digital twin applications and attractive digital twin…
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Added by Latest Market Trends on August 19, 2024 at 12:42pm —
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The net valuation of the total sales of refrigeration coolers in 2022 reached USD 3,567.2 million. With a CAGR of 5.6%, the refrigeration coolers market may worth USD 6,409.7 million by 2033.
The growing requirement for food and beverage, meat and poultry processing, and refrigerated warehouses is propelling the demand for refrigeration coolers. Demand for walk-in cooler refrigeration has increased due to changing lifestyles and rising urbanization. Resulting in an increased need for…
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Added by Latest Market Trends on August 19, 2024 at 12:37pm —
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The district cooling market is poised for substantial growth, projected to surge from USD 29.2 billion in 2023 to a remarkable USD 63.2 billion by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 8.0% from 2023 to 2033.
The escalating demand for district cooling solutions is closely intertwined with the pressing environmental challenges posed by global warming. Observable impacts of climate change, such as earlier tree blooming, premature ice melting on rivers and…
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Added by Latest Market Trends on August 16, 2024 at 11:47am —
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The aviation industry is soaring toward a greener future, fueled by the booming sustainable aviation fuel market. This market is predicted to reach a staggering USD 61.92 billion by 2033, with a phenomenal 60% annual growth rate.
Why Sustainable Aviation Fuel is Taking Off:
Environmentally Conscious Consumers: Travelers are increasingly demanding eco-friendly solutions. SAF significantly reduces emissions, making it a win for airlines seeking to attract environmentally…
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Added by Latest Market Trends on August 16, 2024 at 11:43am —
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The gas turbine market is powering forward, projected to reach USD 61.1 billion by 2033, with a CAGR of 4.1%. This surge in demand for efficient and sustainable power generation solutions presents a golden opportunity for energy companies and technology providers to become leaders in the energy transition. But how can your brand navigate to success in this evolving market?
Driving Sustainable and Efficient Power Generation
Championing Technological Innovation: Lead the…
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Added by Latest Market Trends on August 16, 2024 at 11:39am —
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