Energy & Power Market Overview
Energy and power market research comprises all the industries with the process of the extraction of fuel, as well as the manufacturing, refining, and distribution of energy. There is a general trend towards shift to sustainable energy source, the automotive sector is also experiencing a paradigm shift towards battery powered vehicles. However, the shift isn’t smooth, there have been cases of mass destruction of charging stations across Europe and North America.
Every change has a certain amount of friction, and the amount of resistance depends on the cost of the replacement. In case of automotive segment the clear indication is that companies with traditional fuel systems may not do well in the long term. Free energy and power market research reports also includes the electrical power industry, which includes companies involved with electricity generation, electric power distribution, and sales.
Energy and Power market research report also includes other industries such as the nuclear power industry, the renewable energy industry which comprise of the alternative energy and sustainable energy companies.
The primary source of energy is oil followed by natural gas and coal. China is the world’s largest energy consumer since 2009 and global energy has been growing steadily each year.
However, some regions across the Globe such as the European Union, and in particular Germany has shown a decrease in their energy consumption.
A smart meter is a device that keeps track of the power consumption of infrastructure in real-time and transmits data digitally. Traditional electric meters do not track real-time consumption data, they track power consumption over a specified period.
Recorded real-time power consumption data is used for monitoring, planning, and billing activities. Real-time data collection saves manual labor employed for billing activities. Data insights along with institutional incentives designed to promote energy savings are helping change customer behavior. Customers are increasingly aware of their actions that affect their electricity bills thanks to smart meters. Smart meters provide real-time, high-speed data and analytic to utilities, which help power utility companies to be responsive, resilient, efficient, and reliable. Smart meters also reduce electricity theft. Usually, local/state utilities manage power distribution and customer relations.
Renewable, Non Renewable, Transmission & Distribution and Generation
What is a bus bar? According to the market database, a busbar is a metallic strip or bar used in local high current power distribution that is commonly placed inside switchgear, panel boards, and busway enclosures. Market analysis suggests that they are also used to connect low voltage equipment in battery banks and high voltage equipment at electrical switchyards. As per business […]
In the coming decades, the EU intends to build at least 60 gigawatts of offshore wind capacity by 2030 and 300 gigawatts by 2050. The UK has ambitious plans as well. By 2030, it wants 40 gigawatts of offshore capacity. Outside of Europe, offshore wind energy investments are also on the rise. In addition, onshore wind energy is gaining popularity, but obtaining […]
The role of soft magnetic materials and Soft Magnetic Materials Market and their related devices (such as transformers, electric machines, and motors) in converting energy is often disregarded or overlooked. However, this is not the case. Operating power electronics, power is transformed between sources, storage, and the electrical grid in a bidirectional manner. Electric machines (motors and generators) convert mechanical energy into […]