Large corporations are increasingly signing PPAs with power generator companies to meet their power requirements. For example, Hitachi Koki registered incremental sales of 5% in its power tools sales, owing to the introduction of cordless tools. The increasing growth of EVs resulted in lithium-ion technology development and a steady decline in lithium-based battery cost. All these companies are looking to establish a strategic foothold in a new energy landscape characterized by the following five trends. Vehicle electrification. The battery energy storage system (BESS) market that had an estimated capacity of 4.9GW in 2018, which is expected to reach 22.2GW by 2023, according to GlobalData. In fact, as intermittent renewables recorded record-high penetration and peak oil demand came into focus, COVID-19 helped to crystallize the urgency of the power and utilities industry transition and the convergence it entails. Exponential growth, a slow decline, even a flat line – it all counts as a … Sales, pegged at 88 million units in 2016, rose to 200 million units in 2019, in tandem with broader market developments. Review the entire collection of energy, resources, and industrials industry outlooks. 10) Automotive Aftermarket Industry; Past & Future Quarter after quarter, year over year, the Automobile Aftermarket Parts Industry continues its climb to new sales heights. © 2020. The Global Programmable Power Supply Market Share analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Large power uti… Do not delete! Military trends in the near future. The adoption of electric vehicles has been increasingly growing in the last few years and is set to continue. Major retailers such as Tesco and Walmart also signed a number of PPAs in 2019. “5G wireless networks will support 1,000-fold gains in capacity, connections for at least 100 billion devices and a 10 GB/s individual user experience of extremely low latency and response times, as stated by Huawei . Cloud models are helping utilities to lower their IT CapEx and offer unlimited computing and advanced analytics. Key areas to watch amid a change of administration include the uptake of distributed energy resources, EVs, and hydrogen. Governments across the world are setting EV deployment targets, encouraging industry stakeholders to invest across the EV supply chain. Since the power industry in unlikely to be an early adopter, look for local utilities and cities to step up to the plate. DTTL and each of its member firms are legally separate and independent entities. The power sector is going through significant changes. As utilities look to optimize their distribution grids and integrate more … This message will not be visible when page is activated. Browse over 50,000 other reports on our store. In the coming year, the evolving energy industry landscape is expected to be characterized by five trends: consolidation, new economies, new battery business models, increased scale, and heightened disaster readiness. 2021 power and utilities industry outlook has been saved, 2021 power and utilities industry outlook has been removed, An Article Titled 2021 power and utilities industry outlook already exists in Saved items. The pace and impact of change in the utilities industry is unrelenting. We reported on some of these hospitality trends at the end of 2019 and many have simply been amplified by coronavirus disruption while others are brand new. The Global Automotive Electronic Power Steering Market Report presents the latest industry trends, innovations, and forecast market data. Pressure coming from a wide range of stakeholders, including citizens and shareholders alike, intensified in the past year, hewing closely to the recommendations of the Paris Climate Accord. The COVID-19 global pandemic has radically upended the issues and trends that shape the current and future tourism and hospitality industry. Explore our industry themes to learn about crucial trends … The Outdoor Power Equipment Market report is an in-depth study of various trends… The study is based on a survey of more than 600 leaders in the industry … Industry standards and long-term visioning will lag several years behind the … Lithium-ion (Li-ion) batteries are emerging as crucial for energy storage. Many industry experts have termed 5G as the future of communication and to a great extent, it is true. Explore our industry themes to learn about crucial trends and strategic options. Our industry outlook collection, covering oil, gas, and chemicals; power, utilities, and renewables; and industrial products and construction, evaluates sector landscapes to help executives better plan for success and unforeseen challenges. Expanding to the international market, carbon taxes could be a game-changer in both the energy and trade sectors as well. In 2019, a number of microgrid projects were announced by companies across the world. The Global Outdoor Power Equipment Market size is expected to grow at an annual average of 2.9% during 2019-2025. Future trends: definitions. Global Power System Simulator Market 2020 | Newest Industry Data, Future Trends and Forecast 2026 david November 20, 2020 Global Power System Simulator Market 2020 by Manufacturers, Type and Application, Forecast to 2025 contains an extremely knowledgeable and in-depth evaluation of the present industrial conditions along with market size, estimated from 2020 to 2025. Black & Veatch’s new 2020 Strategic Directions: Electric Report details market drivers and provides insights into how the industry can address challenges.. One of the reasons executives may be unfamiliar with future trends is that they may never have been trained to identify them as special data points. Please enable JavaScript to view the site. While a Republican-led Senate may narrow the scope and/or extend the timeline of these plans, agreement on an infrastructural stimulus could serve as a vehicle to advance the energy transition, as could executive authority over emissions. Oil majors such as Shell, BP and Total are also placing huge bets in the market through acquisitions. Issue Section: Technology Review What are the key trends, challenges, and opportunities that may affect your business and influence your strategy? The power and utilities industry is expected to lead this transition, as the new plan envisions the industry achieving an even more ambitious target of zero emissions by 2035. Nuclear power is likely to play a significant role in meeting future power needs. Visit GlobalData Store, Latest report from The “EV Charging Station and Charging Pile Market” research report is a detailed analysis of the latest developments, market size, status, future technologies, industry drivers, challenges, regulatory guidelines, and the top corporate profiles and player strategies. Do not delete! Published by a leading business intelligence company, Future Power Technology draws on our strong in-house market data and industry expertise to analyse and anticipate trends in the power industry, … Together, these mega-trends … These trends, in turn, would expedite the process of convergence we are now seeing as new entrants and incumbents position to serve a growing clean power industry in an economy that’s gradually electrifying. And it's not just the size-to-power ratio that has been changing — the sources of energy have been dramatically changing too. This report provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. This market is also witnessing consolidation and this trend that is expected to continue. There is only a small window of opportunity to prevent this from happening and set our course for the future: ... To date, these kinds of applications have not been fully exploited in the power industry. Browse over 50,000 other reports on our store. Market Study Report LLC adds a new report on Silicon Controlled Rectifier Power Controller Market Share for 2020-2026. That report speaks of a changing technological and geographic focus for the industry… The power sector is going through significant changes. Market trends point toward a future that is low carbon. Latest report from Companies operating in the power generation industry are divided in terms of the product segment they serve, with mergers and acquisitions observed to be key growth strategies. IoT is helping power companies to remotely monitor and manage their assets. Increasingly, power utilities are collaborating with EV manufacturers to boost their offering in areas such as EV charging, vehicle-to-grid (V2G) services, energy storage and renewable energy sources. Grid parity is ultimately the next step for many utility companies in the U.S. To keep it … Biden’s campaign platform calls for national net-zero greenhouse gas emissions by 2050 and a $2 trillion investment to help equitably achieve this target. Each of the following mega-trends is changing the way we produce and use power globally. This report provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry… Meanwhile, pending FERC decisions and new FERC appointments could shape the extent to which this uptake will translate into market participation. Browse over 50,000 other reports on our store. Decarbonization and digital strategies to drive power and utilities industry convergence in 2021. The ultimate vision for the industry is the self-optimising, ... 15 December 2020 / Predicting future trends can be a tenuous business. Larry Behrens, western states director for Power the Future, an organization that aims to improve the national energy conversation, takes issue with the “double standard” of politicians who take the oil and gas industry for granted. Electric Power Industry On the verge of a tremendous transformation, the way the electric power industry works might just probably exceed the greatest expectations. What else could the future have in store? Consumers now have the choice of a huge array of parts and accessories for every automobile produced in 2021. Energise your workforce with Fircroft If you want to get a head-start on your competitors in the power industry and ensure you have the talent you need to succeed in the future… The power tools market is also witnessing a shift from corded tools to cordless tools. Doug Livermore is an Army National Guard Special Forces Soldier, Contracted Advisor in the Office of the Secretary of Defense, and National Capital Region Ambassador for the Green Beret Foundation. Big data and cloud computing are useful tools that support these initiatives. In 2021, a new administration could usher in an acceleration in the energy industry’s transition and convergence. With an increasing amount of data coming out of the customers’ meters, utilities are focusing on data analytics for load forecasting, generation planning, managing peaks and increasing customer energy efficiency awareness. Vast changes in the power industry continue to take place: from the decline of coal power to the rise of energy storage. This box/component contains JavaScript that is needed on this page. Site-within-site Navigation. To solve this issue, power companies will have to act immediately in 2018 with aggressive recruitment and talent pipeline strategies. The Population Education … The microgrid demand in the power sector continues to grow, driven by the need for resiliency, energy security and remote area electrification. Similarly, China and Germany are exploring opportunities to invest in the growing battery market. First, you are looking for a dataset that shows change over a period of time. ... Tracking the trends 2020. The global power tools market size was valued at USD 32.3 billion in 2019 and is expected to grow at a CAGR of 4% from 2019 to 2025. However, you only have to look at Within the energy industry, the oil majors’ diversification strategies will likely increase their investment across the power industry’s value chain. The pace and impact of change in the utilities industry is unrelenting. Power utilities have realised the crippling effect that cybersecurity issues can have on the grid and are willing to heavily invest to guarantee protection. The Future of Electric Power in the United States: Modeling Workshop The electricity system is undergoing significant changes, such as growth of generation sources connected directly to … Browse over 50,000 other reports on our store. Grid Parity. Utilities such as Duke Energy, EDF, Engie and AusNet have also been involved in the microgrid project development. Black & Veatch’s new 2020 Strategic Directions: Electric Report details market drivers and provides insights into how the industry can address challenges.. Large power utilities such as EDF, E.ON and Enel in Europe have been investing in the EV charging station infrastructure. We’ve combined the insights from more than 3,500 CEO interviews with expert analysis to produce a series of reports across industries and critical topic areas. Every automobile produced in 2021, a number of countries are opting for storage utilisation to their. 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