Offsite Data Center Power Infrastructure Industry Unlocking Growth Exploring Future Market Size for New Opportunities
The global offsite data center power infrastructure market is projected to reach USD 35.4 billion by 2030, showing a growth from the estimated USD 13.4 billion in 2024, with a compound annual growth rate (CAGR) of 17.6% from 2024 to 2030. Various new revenue pockets within the global offsite data center power infrastructure market are emerging as a result of several changing trends and demand determinants....
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...
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...
Energy Efficient Motor Market Share Expected to Reach $59.3 Billion by 2028
The global Energy Efficient Motor Market Share will grow to USD 59.3 Billion by 2028 from USD 41.7 Billion in 2023, at a CAGR of 7.3% according to a new report by MarketsandMarkets™. An energy efficient motor is a type of electric motor that is designed to consume less electrical energy while providing the same level of output as a standard motor. Energy-efficient motors help achieve significant...
Smart Meter Market Share to Hit $36.3 Billion by 2028
The global Smart Meter Market Share is expected to grow from USD 23.1 billion in 2023 to USD 36.3 billion in 2028, at a CAGR of 9.4% from 2023 to 2028. The emergence of electric, gas, and water smart meters has revolutionized utility operations. With advancements in smart meters, sensors, control systems, and communication components, utility systems can be monitored in real-time. These dynamic tariffs...
Power Factor Correction Market Size, Share, Growth and Analysis: 2024-2030
The Power Factor Correction market is expected to reach USD 3.3 billion by 2030, up from an anticipated USD 2.4 billion in 2024, at a CAGR of 5.5% over the forecast period.
One major trend is the increasing awareness of energy efficiency and the financial benefits associated with improved power factor. As businesses strive to reduce energy costs and enhance operational efficiency, the adoption...
Global Energy Perspective 2024: Heat Pump Outlook
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 according to a new report by MarketsandMarkets™. Heat Pump is a more reliable way of heating & cooling on a large scale. The versatile nature of heat pump could enable the transition to a cleaner world and a stronger global economy this...
Energy Management Systems Market Share Expected to Reach $84.34 billion by 2029
The global Energy Management Systems Market Share is expected to grow from USD 44.19 billion in 2024 to USD 84.34 billion by 2029, at a CAGR of 13.8% from 2024 to 2029. The global energy management system market is mainly pushed through the increasing emphasis on power efficiency and the growing need to reduce operational prices across diverse industries. As energy expenses keep to differ and regulatory...