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...
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...
Brushless DC Motor Market Share Expected to Reach $17.6 Billion by 2028
The global Brushless DC Motor Market Share is expected to reach USD 17.6 billion by 2028 from USD 12.1 billion in 2023 at a CAGR of 7.9% during the 2023-2028 period according to a new report by MarketsandMarkets™. Brushless DC motors are synchronous electric motors that are driven by direct current (DC). They are also known as electronically commutated motors (EC motors). These motors are highly...
Offshore Support Vessel Market Share Expected to Reach $36.3 billion by 2029
The global Offshore Support Vessel Market Share is expected to grow from USD 25.6 billion in 2024 to USD 36.3 billion by 2029, at a CAGR of 7.2% during the 2024-2029. An offshore support vessel (OSV) is specially designed to support offshore exploration, drilling, production, and construction activities in the oil & gas industry. These vessels provide a range of services, such as transportation...
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 Grid Market Revenue to Hit $161.5 Billion by 2029
The global Smart Grid Market in terms of revenue was estimated to be worth $73.8 billion in 2024 and is poised to reach $161.1 billion by 2029, growing at a CAGR of 16.9% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The global demand for smart grid is increasing due to strong focus on modernization of aging grid infrastructure. Factors such as rapid industrialization, urbanization,...
Green Ammonia Market Share Expected to Reach $6.2 Billion by 2030
The global Green Ammonia Market Share by value is expected to grow from USD 0.3 billion in 2024 to USD 6.2 billion by 2030, at a CAGR of 66.0% from 2024 to 2030. Green ammonia may be produced using renewable energy sources such as wind and solar power. This integration promotes the use of excess renewable energy, which would otherwise be limited, and converts it into a reliable and transportable source...
Engines Market Share Expected to Reach $477.89 billion by 2029
The global Engines Market is anticipated to grow from estimated USD 377.83 billion in 2024 to USD 477.89 billion by 2029, at a CAGR of 4.8% during the forecast period. The major factors owing to the growth of Engines Market are rising demand for fuel efficient and low emission engines. Engines are machines used in converting fuels into mechanical energy. This helps in major industries such as automotive,...
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...