Advanced Energy Market Research, 2030
The global advanced energy market size was valued at $1,695.8 billion in 2020, and is projected to reach $3,258.7 billion by 2030, growing at a CAGR of 6.8% from 2021 to 2030.
The advanced energy market has been negatively impacted due to the wake of COVID-19 pandemic. The COVID-19 pandemic severely impacted the wind turbine manufacturing, hold on building & construction of renewable infrastructure in countries such as China India, Japan, Germany, and others..
The rising demand from electric vehicles across the globe is likely to have a positive impact on energy demand. Furthermore increasing demand from building efficiency is expected to increase the market growth during the forecast period. The growth of the advanced energy market is driven by the rapid growth in electricity generation sector and this trend is anticipated to boost the demand of advanced energy in coming years Advanced energy incorporates a broad range of products and services that make up the very best readily available innovations for meeting energy needs today as well as tomorrow. Among these are power efficiency, demand response, energy storage space, solar, wind, hydro, nuclear, electric vehicles, biofuels and smart grid. It's all the advancements that make the power we make use of much more secure, clean, dependable as well as affordable.
The growth of the global advanced energy industry is driven by increase in demand for advanced energy from various end-use industries including solar, wind, fuel cells, hydropower, natural gas turbines, building efficiency, and others. The competition among manufacturers has increased significantly, owing to the development in renewable-based power distribution systems. Moreover, rise in investment toward supplying electricity and management solutions is expected to fuel the market growth in the future. However, the changes in atmospheric conditions, such as extreme heat, cold, humidity, and ultraviolet radiation have reduced the efficiency of renewable technologies such as solar, wind, and others. This incurred more costs in production, which resulted in decrease in the efficiency ratio. This factor acts as a major restraint of the advanced energy sector which further is predicted to act as a restrain in the global advanced energy market during the forecast period.
The advanced energy market analysis segmented on the basis of end use and region. On the basis of end use, the market is categorized into electricity generation, electricity delivery & management, building efficiency, water efficiency, transportation, and fuel production & delivery. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global advanced energy market forecast leading players that include ALSTOM, Advanced Energy Industries, Inc., Cummins Inc., Clean Energy Fuels, ENN Energy Holdings Limited, Ford Motor Company, Itron, Inc., Schneider Electric, Siemens AG, and SHELL PLC. The global advanced energy market report provides in-depth competitive analysis as well as profiles of these major players.
By Application
Electricity generation segment is projected as the most lucrative segment.
According to end-use, the electricity generation segment dominated the global advanced energy market share in 2020 and is expected to maintain its dominance during the forecast period. This is attributed to the rise in electricity generation from a diverse set of established and new technologies such as nuclear, renewable, coal, oil & gas, biofuel, and others across the globe.
Region wise, Asia-Pacific dominated the global advanced energy market in 2020, and is projected to remain fastest-growing segment during the forecast period. This is attributed to rise in industrialization as well increase in population which resulted in rise in demand for electricity generation, transmission, and distribution across the region.
IMPACT OF COVID-19 ON THE GLOBAL ADVANCED ENERGY MARKET
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy across the globe. The advanced energy market has been negatively impacted due to the wake of COVID-19 pandemic. The COVID-19 pandemic severely impacted the wind turbine manufacturing, hold on building & construction of renewable infrastructure in countries such as China India, Japan, Germany, and others. In addition, complete lockdown and social distancing norms across different countries delayed the cross-border export and import activities. This led to supply chain disruptions in the upstream and downstream channels. Due to pandemic outbreak within Europe, the countries like, Germany and the UK are expected to grow at a sluggish rate over next couple of years.Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap. Thus, insufficiency in raw material supply is expected to hamper the production rate of advanced energy product and other solutions, which negatively impacted the market growth.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the advanced energy market analysis from 2020 to 2030 to identify the prevailing advanced energy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the advanced energy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global advanced energy market trends, key players, market segments, application areas, and market growth strategies.
Advanced Energy Market Report Highlights
| Aspects | Details |
 By APPLICATION |
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 By Region |
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 Key Market Players | Shell PLC, alstom, Ford Motor Company, Cummins, Inc., Itron, Inc., Advanced Energy Industries, Inc., Siemens, enn energy holdings ltd, Shneider Electric, Clean Energy Fuels Corp. |
Analyst Review
Rapid industrialization and urbanization are the key factors responsible for the leading position of Asia-Pacific and North America in the global advanced energy market. Asia-Pacific is expected to provide lucrative opportunities to leading advanced energy technology providers and players, owing to its huge potential to set up advanced energy infrastructure, surge in demand for sustainable energy generation, and renewable energy targets by the Asian countries.
Increase in demand for sustainable electricity generation is the key factor that drives growth of the global advanced energy market during the forecast period. In addition, implementation of stringent government regulations toward environmental pollution; rise in awareness toward improving building efficiency, water efficiency, reliable & pollution free transportation; and others are expected to fuel growth of the market during the forecast period. However, high cost of initial energy setup, on the other hand, is expected to hinder the advanced energy market growth during the forecast period. On the contrary, rapid growth of renewable energy industry and rise in use of hybrid & electric vehicles across the globe, owing to their environmental friendly systems, favorably impacted the advanced energy consumption and is anticipated to provide remunerative opportunity for key players to maintain the pace of the advanced energy market in the upcoming years.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market by the end of 2031, followed by North America, Europe, and LAMEA.
Rising demand from electric vehicles and increasing demand from building efficiency are the trends of Advanced Energy Market
Asia-Pacific dominated the global advanced energy market in 2020, and is projected to remain fastest-growing segment during the forecast period. This is attributed to rise in industrialization as well increase in population which resulted in rise in demand for electricity generation, transmission, and distribution across the region.
According to end use, the electricity generation segment dominated the global advanced energy market in 2020, and is expected to maintain its dominance during the forecast period. This is attributed to rise in electricity generation from diverse set of established and new technologies such as nuclear, renewable, coal, oil & gas, biofuel and others across the globe.
ALSTOM, Advanced Energy Industries, Inc., Cummins Inc., Clean Energy Fuels, ENN Energy Holdings Limited are the top companies to hold the market share in Advanced Energy Market
The Electricity generation Advanced Energy Market was valued at $695.0 billion in 2020, and is projected to reach $1,386.9 billion by 2030, registering a CAGR of 7.2% from 2021 to 2030.
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