Lithium-air batteries are electrochemical batteries that oxidize lithium at the anode and reduce oxygen drawn from the surrounding air at the cathode. Lithium-air batteries utilize ambient air, which reduces the battery's weight and volume, resulting in a greater energy storage capacity than lithium-ion batteries. Increasing renewable energy sources and the need for energy storage systems are two of the key factors driving the global lithium-air battery market.
The global generator sets market is anticipated to increase at a CAGR of 6% during the forecast period of 2024 to 2032. The expansion of the generator sales market can be attributable to the rising demand for uninterrupted and reliable power from a variety of end-users, including the residential, IT/telecom, healthcare, utility, power generating, marine, chemical, oil & gas, mining, and construction industries.
The hydrogen energy storage market is expected to witness a CAGR of 7.5% during the forecast period of 2024 to 2032, driven by the growing demand for clean and sustainable energy solutions. Hydrogen energy storage involves the conversion of electrical energy into hydrogen through electrolysis, which can then be stored and used as a versatile energy carrier. This technology enables the storage and utilization of renewable energy sources, such as solar and wind power, overcoming the intermittency challenges associated with these sources.
The global deception technology market garnered a value of US$ 1.74 Bn in 2021 and is likely to witness noteworthy growth, with a CAGR of 10.9% during the forecast period from 2024 to 2032. In recent years, the world has witnessed a surge in advanced cyber-attacks. These attacks are increasing at a rapid pace both in number and complexity. To thwart the vicious trend of suspicious activities and cyber-attacks, the security community has developed and proposed numerous solutions to enhance the security of networks and information systems across several end-use verticals.
Globally, the cyber-physical systems market is expected to grow with a CAGR of 9.3% during the forecast period from 2024 to 2032 and was recorded to have a market value of US$ 78.42 Bn in 2021. A cyber-physical system (CPS) is an instrument, that is monitored or controlled by computer-based processes, and is highly integrated with internet and with its users. Some of the common examples of CPS are process control systems, robotics systems, medical monitoring, smart grid, autonomous automobile systems, and automatic pilot avionics. The CPS offers a link between the physical and virtual environment.
Power transmission cables are widely used in transmission and distribution of electricity to various residential and commercial consumers.Power transmission cables are insulated with various materials such as PVC (Poly Vinyl Chloride), XLPE (Polyethylene with cross-links), rubber, impregnated paper and varnished cambric. Global power transmission cables market is projected to register significant growth over the forecast period.Increasing investment in renewable energy across the globe requires installation of new power transmission lines to connect with the existing grid.
Digitalization in the energy sector has the ability to boost energy efficiency through technologies that collect and analyze data prior to implementing physical environment modifications (either automatically, or through human intervention). Digital technologies are already pervasive throughout all energy end-use industries. Increasing numbers of residential and commercial buildings are outfitted with intelligent appliances and energy management systems. Advanced robots and 3D printing are becoming standard in the industry sector. The relationship between automated, connected, electric, and shared (ACES) mobility will determine the transportation industry's future energy use.
Digital technologies have the ability to optimize the energy consumed in a variety of energy-intensive activities, such as manufacturing and residential cooling. This represents a gain in energy efficiency according to the conventional definition: A decrease in energy use per unit of activity. Improving end-use efficiency is a crucial component of global energy transitions, with benefits for both developed and developing economies. Yet, the connectivity benefits of digitalization enable energy solutions to boost both the end-use efficiency and the overall system efficiency. The energy systems of the world are experiencing a massive transformation: Centralised and decentralized variable renewables are being connected to the grid, energy consumption is becoming more electrified, and "prosumers" (those who use and produce energy) are emerging. In this setting, demand-side flexibility is becoming increasingly vital to guarantee that the energy system operates as efficiently as possible, with energy supplied when needed and consumed when available.
Energy components and technologies enable "smart" buildings, vehicles, and industrial facilities to bring new sources of variable load to the energy system, so aiding in the reduction of renewables curtailment on the supply side and encouraging communities to utilize energy produced "behind the meter." Incorporating more renewables and increasing community self-consumption will result in a more efficient energy system due to the decrease in production and distribution losses. The ability of digital technology to increase both end-use and system efficiency ultimately improves the entire energy system through, among other impacts, reduced expenditures in energy infrastructure (such as peaking plants), improved integration of renewables, and increased energy security.
Acute Market Reports is a business research and consultancy firm that caters to the research needs of the energy components and technologies segment. Acute Market Reports' focus on the futuristic and innovative research model enables our customers to make informed business decisions at just the right time. In order to provide our clients with best-in-class strategic research solutions, we collaborate with a wide variety of participants in the industry.
