The global energy as a service market is growing proficiently, projected to grow at a CAGR of 11.9% during the expected period from 2022 to 2030, starting from US$ 57.4 Bn in 2021.
The global digital multimeter market is rising significantly, anticipated to expand at a CAGR of 4.5% during the estimated period from 2022 to 2030, starting from US$ 2263.3 Mn in 2021. The rising electric vehicle penetration along with the surge in demand for digital multimeters across the globe are the major factors projected to drive the global market growth over the forecast period.
The global residential energy storage market is growing competently, expected to grow at a CAGR of 16.0% during the estimated period from 2022 to 2030, starting from US$ 8.86 Bn in 2021. The growth of residential battery storage in the power sector has engrossed attention for a wide-scale application in the residential and commercial sectors. Most of the attention is focused towards utility-scale batteries and for commercial and industrial customers. In addition, the large batteries are precarious segments for the energy-storage market, along with the swift growth of residential energy storage and household systems will expand the battery market on a global scale.
Hydrogen is an energy rich gas and is used in number of applications such as rocket fuel, car fuel, a material for industrial products such as hardened fats and also can be converted into synthetic natural gas. Hydrogen energy storage (HES) system increases the resiliency and improves the economics of energy supply in electric grids, pipeline systems and transportation fuels. Hydrogen energy storage system increases the flexibility and resilience of sustainable energy supply system with overall reduction in energy cost by on account of integration and better utilization of renewables.
Rising inclination of industries towards self-generating power sources to reduce the risk of power disruption is driving the market of stationary fuel cells, worldwide. Also, the declining cost of fuel cell technology along with growing awareness among consumers for the use of clean energy is also increasing the market growth. Low emission and fewer efficiency losses during transportation are popularizing the use of stationary fuel cells in the number of applications.
The power distribution unit market worldwide is expected to grow with a CAGR of 5.9% during the forecast period from 2022 to 2030, starting from US$ 2.37 Bn in 2021. Rising data centers are driving the demand for power distribution units worldwide. Growing power supply concerns and for the reduction of energy losses the demand for power distribution unit is increasing, which helps the market growth.
Globally, the gas circuit breaker market is expected to grow with a CAGR of 5.0% during the forecast period from 2022 to 2030, starting from US$ 788.13 Mn in 2021. Gas circuit breakers consists of sulphur hexafluoride (SF6) which interrupts with electric currents when a fault is detected and helps protect the electrical power stations and distribution systems. Gas circuit breakers have various advantages over conventional methods as these systems donot need to be replaced, however they can be reset to resume usual operations.
The Coin Cell Batteries market worldwide is expected to grow with a CAGR of 0.45% during the forecast period from 2022 to 2030. Coin Cell Batteries market worldwide is witnessing a sluggish pace since the past few years and stood at USD 3.94 Bn in 2021. Coin cell batteries are button shaped have low self-discharge. The batteries have long shelf life, are reliable and consistent.
The test and burn-in sockets market worldwide is expected to grow with a CAGR of 5.6% during the forecast period from 2022 to 2030. The test and burn-in sockets market is driven by the connector market. The test and burn-in sockets denote a small but challenging segment of the connector market. The designs of the sockets are robust, leading edge, and are produced in small quantities. The sockets are widely used in smartphones and driving assistance systems. As a result, we expect the market to grow with a rapid pace throughout the forecast period.
Power is vital when it comes to electronics. Power connectors act as the vital connection between a device and its power source. Power connectors are devices that enable an electrical current flow through it for the sole purpose of supplying a device with power. Power connectors are designed to carry both AC as well as DC supply. AC plugs and sockets make it possible to connect devices to a building's primary power supply.
Power Market Research Reports
Greater utility of power and energy has attracted many countries into business investments in the substitute energy sources like solar power, wind energy and wave energy. Since natural resources are diminishing faster, there is a rise in demand for investing in renewable forms of energy that satisfies the growing power & energy requirements of the increasing human population.
Today the use and applications of power are limitless. No business activity, industrial activity or domestic activity can be successfully executed without power supply. Being a component of this ever evolving world adds to new dimensions of growth to the power market. So, at every such front Acute Market Reports is always keen for providing quick services with extremely dependable summary of power industry.
Power market research reports of Acute Market Reports has the following advantages:
The market research reports include analysis of the markets based geographical locations, end use and end use applications. These study reports also include market share analysis, market attractiveness analysis, SWOT analysis, value Chain Analysis, environmental analysis, PESTEL framework, Product analysis, financial Analysis, zero budgeting, revenue analysis, cost benefit analysis and portfolio analysis of power market along with diagrammatic and tabular data representation to present these business concepts to the users in a more subtle & concise way enabling them in understanding the concepts of power utility business with ease and adjudge/declare their business decisions based on it.
