NEW YORK, Sept. 13, 2023 /PRNewswire/ -- The advanced energy market size is expected to grow by USD 41.09 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 4.96% during the forecast period. APAC will account for 28% of the market growth. The market share growth by the On-grid segment will be significant during the forecast period. To find a preview of the market overviews, market drivers, opportunities, and potentials request a sample report
Advanced Energy Market 2023-2027: Company Analysis
The advanced energy market is fragmented due to the presence of many global and regional players. The market comprises category-focused, industry-focused, and diversified vendors. The global off-grid advanced energy market is expected to grow rapidly during the forecast period due to increasing investments in clean energy technologies. Hence, the competition among companies is expected to intensify during the forecast. The report analyzes the market's competitive landscape and offers information on several market companies. 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., TotalEnergies SE, and UCAP Power Inc.
Major Companies and Key Offerings:
- ABB Ltd. - The company offers advanced energy solutions for electrical energy through power plants.
- Electricite de France SA - The company offers advanced energy solutions such as solar photovoltaic, wind energy, and electrical vehicle charging.
- EOS Energy Enterprises Inc. - The company offers advanced energy solutions such as Znyth technology batteries.
Advanced Energy Market 2023-2027: Segmentation Analysis
By Application
- 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.
- Other segments include end-user (residential and non-residential).
By Geography
- 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.
- Other regions include Europe, North America, South America, the Middle East, and Africa.
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Imperative Insights on the following aspects:
- What was the size of the global advanced energy market by value?
The advanced energy market is forecast to increase by USD 41.09 billion. - What will be the size of the global advanced energy market in 2027?
The advanced energy market was valued at USD 134.52 billion in 2017. - What main segments make up the global advanced energy market?
Application and end-user are the major segments in the market.
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Advanced Energy Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.96% |
Market growth 2023-2027 |
USD 41.09 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
4.47 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 28% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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., TotalEnergies SE, and UCAP Power Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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