DERMS Market Anticipated to Reach $1.44 billion by 2029, Witnessing a CAGR of 18.8% During 2024 to 2029
The Distributed energy resource management systems (DERMS) market is expected to grow from an estimated in USD 0.61 billion in 2024 to USD 1.44 billion by 2029, at a CAGR of 18.8% during the forecast period. The market for DERMS is thus growing rapidly. Some of the key factors driving the market are increased adoption of renewable energy sources such as solar and wind power, which are considered significant...
Residential Energy Storage Market Continues Steady Growth – Projected to Hit $4.58 billion by 2030
The global Residential Energy Storage market is anticipated to grow from an estimated USD 2.69 billion in 2024 to USD 4.58 billion by 2030, at a CAGR of 9.3% during the forecast period.
Rapid developments in battery technologies, especially in lithium-ion systems, have led to cost decline at levels that see energy storage systems increasingly come closer to the residential customer. Improvements...
Variable Frequency Drive Market Size to Reach $30.36 billion by 2029
The Variable Frequency Drive market is projected to reach USD 30.36 billion by 2029 from an estimated USD 23.46 billion in 2024, at a CAGR of 5.3% during the forecast period (2024–2029).
The growth in the VFD market is primarily driven by energy efficiency demand across industries, where reduced energy consumption is achieved by motor speed control. Gains in industrial automation as well as digitalization...
Hydrogen Truck Market Size, Share, Trends, Demand & Forecast 2035
The global hydrogen truck market size is projected to grow from USD 1.9 billion in 2024 to USD 10.8 billion in 2035, at a CAGR of 16.9%.
Hydrogen Truck market is growing due to expansion in hydrogen refuelling infrastructure and advancements in fuel cell technology, R&D in liquid hydrogen technology, along with rising consumer interest in zero-emission vehicles. Also, the shift towards hydrogen...
Pumps Market Size to Grow $79.01 billion by 2029 Key Drivers And Analysis – Grundfos Holding A/S
According to a research report, Pumps Market is highly gaining growth. Estimated to be at USD 61.32 billion in the year 2024, it may reach USD 79.01 billion during 2029 with a robust CAGR of about 5.2% over the projected period. The significant factors driving the global pumps market are rapid industrialization, urbanization, and infrastructure development, especially in emerging markets like Asia-Pacific...
North America Will Dominate The Heat Pump Market Projected to Reach $157.8 Billion by 2029
The global Heat Pump Market is expected to reach USD 157.8 billion by 2029 from USD 90.1 billion in 2024 at a CAGR of 11.8% during the 2024-2029 period. The heat pump market in the US witnessed substantial growth owing to the growing adoption of energy-efficient systems, favorable governmental incentives for renewable energy adoption, and the need to reduce carbon emissions. As such, heat pumps are...
Green Revolution in North America: Biorefinery Industry to Reach $314.62 Billion by 2029
The global Biorefinery Industry is expected to grow from estimated USD 212.05 billion in 2024 to USD 314.62 billion by 2029, at a CAGR of 8.2% during the forecast period. The US biorefinery market is an emerging sector in the global market and is expected to grow exponentially with increased demand for renewable energy fuels that biorefineries can produce biofuels and bio-based products. Feedstocks...
Hydrogen Energy Storage Market – Europe Market Scenario With Key Players and Market Trend
The European hydrogen energy storage market is an emerging sector within the global market that is expected to grow significantly due to the rise in fuel cell adoption, strict regulations related to emission control, and the inclination toward cleaner fuels.
The European countries have their energy policies in various phases of development, while the EU region has set a binding target for reducing...
North America Leads the Charge: Portable Power Station Market Share to Reach $1.1 billion by 2028
The global Portable Power Station Market is projected to grow from USD 0.5 billion in 2023 to USD 1.1 billion by 2028, at a CAGR of 18.4% during the 2023-2028. The portable power station market in the U.S. is experiencing significant growth, driven by several factors. The rising popularity of outdoor activities such as camping and recreation, stringent emission control regulations, and increasing...