Advanced Energy Market to grow at a CAGR of 4.96% from 2022 to 2027|ABB Ltd., BYD Co. Ltd. & Electricite de France SA are major vendors - Technavio

NEW YORK, July 27, 2023 /PRNewswire/ -- The advanced energy market is estimated to grow at a CAGR of 4.96% between 2022 and 2027. The market size is forecast to increase by USD 41.09 billion, according to Technavio. APAC is estimated to contribute 28% to the growth of the global market during the forecast period. In the region, the major leading countries include China, Japan, India, Australia, and South Korea. The significant growth of the market in this region can be attributed to financial incentive programs, particularly subsidies, implemented in countries like China and India. Additionally, favorable government policies promoting the adoption of cleaner energy sources and increased investments in developed energy technologies have further contributed to the market's expansion. Hence, these factors are expected to drive the growth of the segment during the forecast period. For Comprehensive details on the market size of the historical period(2017 to 2021) and forecast period (2023-2027) - View the Sample report

Vendor Landscape
The advanced energy market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Market Dynamics

Key Drivers & Challenges

The increasing investments in clean energy technologies are key factors driving market growth. In the construction industry, various energy efficiency measures are being adopted to create healthier and more productive environments while reducing issues related to GHG and reducing fossil fuel-based energy consumption. One notable energy-efficient technology is Zero Energy Buildings (ZEBs), which generate their power from renewable sources, promoting self-sustainability. The use of solar photovoltaic (PV) systems is expected to increase significantly as more ZEBs become accessible and widely adopted. Thus, these factors are expected to drive market growth during the forecast period.

The lack of standardization is a significant challenge faced by the energy market. This creates a gap in the compatibility of power systems. Utilities face significant challenges in implementing security standards across various networking systems. Different technologies adhere to various standards, such as those set by standards developing organizations, industry user groups, and proprietary standards, offering varying levels of performance, security, cost, and development. Hence, these factors are expected to restrict market growth during the forecast period.

Major Trends

The emergence of zero-energy buildings is a major trend in the market. The residential sector represents a significant portion of electricity consumption worldwide. To meet the power demands of buildings, renewable energy sources like solar PV, fuel cells, and energy storage technologies are being employed. Low-carbon energy systems are being adopted for power generation in buildings, while interior design strategies are implemented to reduce electricity consumption. Additionally, some countries are implementing Zero Energy Building concepts with the support of legislation and directives from their governments. Thus, these factors are expected to drive market growth during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The advanced energy market report includes information on the product launches, sustainability, and prospects of leading vendors including ABB Ltd., BYD Co. Ltd., Electricite de France SA, EOS Energy Enterprises Inc., General Electric Co., Hitachi Ltd., INEOS Group Holdings SA, LG Chem Ltd., LyondellBasell Industries Holdings B.V., NEC Corp., Panasonic Holdings Corp., S and C Electric Co., Samsung SDI Co. Ltd., Schneider Electric SE, Sensata Technologies Inc., Tesla Inc., The AES Corp., Toshiba Corp., Total Energies SE, and UCAP Power Inc.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

 Market Segmentation

The market is segmented by application (on-grid and off-grid), end-user (residential and non-residential), and geography (APAC, Europe, North America, South America, the Middle East, and Africa).

• The market share growth by the On-grid segment will be significant during the forecast period.  The significant factor driving the growth of the on-grid segment is the increasing adoption of the smart grid and the integration of various clean energy sources, such as solar and wind, along with storage systems.  In addition, the lower costs of solar photovoltaic (PV) plants and the substantial government support have further contributed to the feasibility of installing solar PV systems in both public utility and residential sectors. Hence, these factors are expected to drive the growth of the segment during the forecast period.

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global advanced energy market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global advanced energy market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 On-grid - Market size and forecast 2022-2027 
• Exhibit 34: Chart on On-grid - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on On-grid - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on On-grid - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on On-grid - Year-over-year growth 2022-2027 (%)

• 6.4 Off-grid - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Off-grid - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Off-grid - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Off-grid - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Off-grid - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ billion)
• Exhibit 43: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 44: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 45: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 46: Chart on Comparison by End-user
• Exhibit 47: Data Table on Comparison by End-user

• 7.3 Residential - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Residential - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Residential - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Residential - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Residential - Year-over-year growth 2022-2027 (%)

• 7.4 Non-residential - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Non-residential - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Non-residential - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Non-residential - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Non-residential - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 56: Market opportunity by End-user ($ billion)
• Exhibit 57: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027 
• Exhibit 95: Chart on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ billion)
• Exhibit 104: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 ABB Ltd.
• Exhibit 111: ABB Ltd. - Overview
• Exhibit 112: ABB Ltd. - Business segments
• Exhibit 113: ABB Ltd. - Key offerings
• Exhibit 114: ABB Ltd. - Segment focus

• 12.4 Electricite de France SA 
• Exhibit 115: Electricite de France SA - Overview
• Exhibit 116: Electricite de France SA - Business segments
• Exhibit 117: Electricite de France SA - Key news
• Exhibit 118: Electricite de France SA - Key offerings
• Exhibit 119: Electricite de France SA - Segment focus

• 12.5 EOS Energy Enterprises Inc. 
• Exhibit 120: EOS Energy Enterprises Inc. - Overview
• Exhibit 121: EOS Energy Enterprises Inc. - Product / Service
• Exhibit 122: EOS Energy Enterprises Inc. - Key offerings

• 12.6 General Electric Co.
• Exhibit 123: General Electric Co. - Overview
• Exhibit 124: General Electric Co. - Business segments
• Exhibit 125: General Electric Co. - Key news
• Exhibit 126: General Electric Co. - Key offerings
• Exhibit 127: General Electric Co. - Segment focus

• 12.7 INEOS Group Holdings SA 
• Exhibit 128: INEOS Group Holdings SA - Overview
• Exhibit 129: INEOS Group Holdings SA - Business segments
• Exhibit 130: INEOS Group Holdings SA - Key news
• Exhibit 131: INEOS Group Holdings SA - Key offerings
• Exhibit 132: INEOS Group Holdings SA - Segment focus

• 12.8 LG Chem Ltd.
• Exhibit 133: LG Chem Ltd. - Overview
• Exhibit 134: LG Chem Ltd. - Business segments
• Exhibit 135: LG Chem Ltd. - Key news
• Exhibit 136: LG Chem Ltd. - Key offerings
• Exhibit 137: LG Chem Ltd. - Segment focus

• 12.9 LyondellBasell Industries Holdings B.V. 
• Exhibit 138: LyondellBasell Industries Holdings B.V. - Overview
• Exhibit 139: LyondellBasell Industries Holdings B.V. - Business segments
• Exhibit 140: LyondellBasell Industries Holdings B.V. - Key offerings
• Exhibit 141: LyondellBasell Industries Holdings B.V. - Segment focus

• 12.10 NEC Corp.
• Exhibit 142: NEC Corp. - Overview
• Exhibit 143: NEC Corp. - Business segments
• Exhibit 144: NEC Corp. - Key news
• Exhibit 145: NEC Corp. - Key offerings
• Exhibit 146: NEC Corp. - Segment focus

• 12.11 S and C Electric Co.
• Exhibit 147: S and C Electric Co. - Overview
• Exhibit 148: S and C Electric Co. - Product / Service
• Exhibit 149: S and C Electric Co. - Key offerings

• 12.12 Schneider Electric SE 
• Exhibit 150: Schneider Electric SE - Overview
• Exhibit 151: Schneider Electric SE - Business segments
• Exhibit 152: Schneider Electric SE - Key news
• Exhibit 153: Schneider Electric SE - Key offerings
• Exhibit 154: Schneider Electric SE - Segment focus

• 12.13 Sensata Technologies Inc. 
• Exhibit 155: Sensata Technologies Inc. - Overview
• Exhibit 156: Sensata Technologies Inc. - Business segments
• Exhibit 157: Sensata Technologies Inc. - Key news
• Exhibit 158: Sensata Technologies Inc. - Key offerings
• Exhibit 159: Sensata Technologies Inc. - Segment focus

• 12.14 Tesla Inc.
• Exhibit 160: Tesla Inc. - Overview
• Exhibit 161: Tesla Inc. - Business segments
• Exhibit 162: Tesla Inc. - Key news
• Exhibit 163: Tesla Inc. - Key offerings
• Exhibit 164: Tesla Inc. - Segment focus

• 12.15 The AES Corp.
• Exhibit 165: The AES Corp. - Overview
• Exhibit 166: The AES Corp. - Business segments
• Exhibit 167: The AES Corp. - Key offerings
• Exhibit 168: The AES Corp. - Segment focus

• 12.16 TotalEnergies SE
• Exhibit 169: TotalEnergies SE - Overview
• Exhibit 170: TotalEnergies SE - Business segments
• Exhibit 171: TotalEnergies SE - Key news
• Exhibit 172: TotalEnergies SE - Key offerings
• Exhibit 173: TotalEnergies SE - Segment focus

• 12.17 UCAP Power Inc.
• Exhibit 174: UCAP Power Inc. - Overview
• Exhibit 175: UCAP Power Inc. - Product / Service
• Exhibit 176: UCAP Power Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations
• Exhibit 183: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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