Hydro Electricity Global Market Report 2023 – By Product Type (Dike Type, Diversion Hydropower Station, Mixed Type, Tide, Pumped Storage), By Capacity (Large, Medium, Small), By Application (Residential, Commercial, Industrial) – Market Size, Trends, And Global Forecast 2023-2032

Power Generation Market Definition

The power generation market consists of sales of electric power by entities (organizations, sole traders and partnerships) that operate electric power generation facilities. These facilities generate electric power using various forms of energy, such as fossil fuels, nuclear, solar, wind and water. The establishments in this industry produce electrical energy and provide electricity to electric power transmission and distribution systems. Power generation refers to the creation of energy utilizing many types of technology, some of which are over a century old, such as steam boilers, and others which are newer, such as wind turbines. Steam boilers and windmills, on the other hand, are much older. They were originally designed to move machines and crush grain, and they still do so today, but they're now primarily used to generate power. It is the process of generating electricity or the amount of electricity generated by converting various types of energy into electricity; often stated in kilowatt-hours (kWh) or megawatt-hours (MWh).

Power Generation Market Definition

The power generation market consists of sales of electric power by entities (organizations, sole traders and partnerships) that operate electric power generation facilities. These facilities generate electric power using various forms of energy, such as fossil fuels, nuclear, solar, wind and water. The establishments in this industry produce electrical energy and provide electricity to electric power transmission and distribution systems. Power generation refers to the creation of energy utilizing many types of technology, some of which are over a century old, such as steam boilers, and others which are newer, such as wind turbines. Steam boilers and windmills, on the other hand, are much older. They were originally designed to move machines and crush grain, and they still do so today, but they're now primarily used to generate power. It is the process of generating electricity or the amount of electricity generated by converting various types of energy into electricity; often stated in kilowatt-hours (kWh) or megawatt-hours (MWh).

Electricity and signal testing instruments are defined as instruments that are used for detecting faults in the operation of electronic devices, and capturing responses from electronic devices for the usage of measuring and testing the characteristics of electronic and electrical signals. The electricity and signal testing instruments are necessary to find and analyze the circuit conditions, and for checking electronic test equipment and maintenance in various industries. The main types of electricity and signal testing instruments are electricity testing instruments, other testing and measuring instruments, and semiconductor and signal testing instruments. Electricity and signal testing instruments can measure a wide range of electrical parameters from current and voltage to resistance, continuity, and beyond. Electrical contractors use an electricity testing instrument to inspect everything from live wires and circuit breakers to power transformers and electrical panels. The various services provided are calibration services and repair services/ after-sales services that are used for environmental protection, rail, water affairs, municipal, and other applications. The global electricity and signal testing instruments market is segmented – 1) By Type: Electricity Testing Instruments, Other Testing and Measuring Instruments, Semiconductor and Signal Testing Instruments 2) By Services: Calibration Services, Repair Services/ After-sales Services 3) By Application: Environmental Protection, Rail, Water Affairs, Municipal, Other Applications The global electricity and signal testing instruments market size will grow from $61.33 billion in 2022 to $65.92 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global electricity and signal testing instruments is expected to grow to $85.47 billion in 2027 at a CAGR of 6.7%. The increasing demand from construction industries drove the market for electricity and signal testing instruments. The electricity and signal testing instruments manufacturing market is registering strong growth due to the rise in construction activity. The increasing demand for construction activity was aided by rising disposable income, strong economic growth, a stable political environment, and increasing foreign investments. According to global information, the global construction market is expected to grow to $18,775.3 billion at a compound annual growth rate CAGR of 10.6% through 2022. Therefore, the increasing demand from construction activities is expected to drive the electricity and signal testing instruments market. Major players in the electricity and signal testing instruments market are Fortive Corporation, Rohde & Schwarz GmbH & Co., Anritsu Corporation, Advantest Corp., Teradyne Inc. and Good Will Instruments. Trade protectionism in the construction industry is expected to increase in most of the markets, this is expected to restrain the electricity and signal testing instruments manufacturing market. Many countries have imposed trade restrictions, especially on imports, to boost local wood and metal products which are widely used in the construction industry. The US also imposes many trade restrictions, especially with China, to improve its local production. For example, the US placed a tariff of 25% on steel and a tariff of 10% on aluminum. The increasing trade protectionism in the construction industry hurts the electricity and signal testing instruments market. Therefore, the increasing trade protectionism limits the growth of the electricity and signal testing instruments market. The companies in the electricity and signal testing instruments are increasingly investing in the miniaturization of the instruments. The fast growth in the electronics industry is leading to the development of small-sized electronic devices for which miniaturized tests and measurement equipment are required. Miniaturized test and measurement equipment are flexible and easy to use. For example, Advantest is currently offering miniaturized electricity and signal testing equipment to keep up with the growing end-user demand. In August 2022, Maschinenfabrik Reinhausen GmBH, a Germany-based company operating in the construction of high-voltage testing and diagnostic system acquired Advanced Testing Systems Inc. for an undisclosed amount. Through this acquisition, Maschinenfabrik Reinhausen GmBH aims to strengthen its product portfolio in the high voltage testing industry and expand its reach in the USA market. Advanced Testing Systems Inc. is a US-based electrical testing and maintenance company. Asia-Pacific was the largest region in the electricity and signal testing instruments market in 2022. North America was the second-largest region in the global electricity and signal testing instruments market share. The regions covered in the global electricity and signal testing instruments market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electricity and signal testing instruments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The electricity and signal testing instruments market consist of sales of circuit and continuity testers, volt meters, ohm meters, watt meters, multimeters, semiconductor test equipment, and other electricity and signal testing instruments. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electricity and signal testing instruments market research report is one of a series of new reports from The Business Research Company that provides electricity and signal testing instruments market statistics, including electricity and signal testing instruments industry global market size, regional shares, competitors with an electricity and signal testing instruments market share, detailed electricity and signal testing instruments market segments, market trends and opportunities, and any further data you may need to thrive in the electricity and signal testing instruments industry. This electricity and signal testing instruments market research report delivers a complete perspective of everything you need, with an in-deptconsistsh analysis of the current and future scenario of the industry.

Power generation refers to electricity production using different types of technologies in order to supply power to the electrical grid for society's electrical needs. It includes electricity produced in electricity-only plants and in combined heat and power plants. The main types of power generation are hydroelectricity, fossil fuel electricity, nuclear electricity, solar electricity, wind electricity, geothermal electricity, biomass electricity, and other electricity. Hydroelectricity, also known as hydroelectric power or hydroelectric energy, is a type of energy that generates electricity by harnessing the power of moving water, such as water running over a waterfall. Energy for power generation is derived from both conventional (non-renewable) and renewable sources. The different types of grids include off-grid and on-grid, which are used by the residential, commercial, and industrial sectors. The global power generation market is segmented - 1) By Type: Hydro Electricity, Fossil Fuel Electricity, Nuclear Electricity, Solar Electricity, Wind Electricity, Geothermal Electricity, Biomass Electricity, Other Electricity 2) By End-User: Residential, Commercial, Industrial 3) By Sources Of Energy: Conventional/Non-Renewable Source, Renewable Source 4) By Type of Grid: Off Grid, On Grid The global power generation market size will grow from $1,776.61 billion in 2022 to $1,913.39 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The size of power generation market is expected to grow to $2,543.23 billion in 2027 at a compound annual growth rate (CAGR) of 7.4%. The increasing applications of electricity in the transportation industry are expected to increase the demand for electricity, driving the power generation market. The electrification of railways in underdeveloped and developing countries; the setting up of public transportation networks such as rapid metro transit systems; and the increasing use of electric vehicles in developed countries will create significant opportunities for power generation companies in the market. For instance, to attain net-zero carbon emissions, the Office of Rail and Road (ORR) estimates that 13,000 track kilometers – or about 450km per year – of the track will need to be electrified by 2050 in the UK, and 179 km kilometers were electrified between 2020 and 2021. According to the Edison Electric Institute (EEI), annual electric vehicle sales in the USA are expected to surpass 1.2 million by 2025. Electric vehicles are expected to account for 9% of the global electricity demand by 2050. Major companies in the power generation market include Enel SpA, Electricite De France SA, State Power Investment Corporation, E.ON SE, Engie, Huaneng Power International, Inc., Exelon Corp, Endesa SA, Datang International Power Generation Company Limited, and Inter RAO UES. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the power generation market in 2020 as demand for utility services from industrial and commercial establishments decreased due to trade restrictions and lockdowns imposed by governments globally. Many manufacturing facilities globally halted operations to contain the spread of viruses among their workforce, thereby limiting the need for utility services such as electricity and wastewater treatment. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lock down. The outbreak has had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the power generation market will recover from the shock across the forecast period as it is a black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Electric power generation companies are using batteries to store solar energy during daylight hours. The energy storage sites consist of large lithium-ion batteries. Storage of energy in batteries is also getting more popular in other types of power generation. These batteries store enough energy to serve as a backup in case of a power shortage due to disruptions in fuel supply. They are designed to absorb solar power and feed it back to the grid. These systems minimize the need for capital-intensive power generation plants, enhance transmission and distribution efficiencies, and reduce operational costs. By 2025, the World Bank Group aims to fund 17.5-gigawatt hours (GWh) of battery storage, more than tripling the current 4-5 GWh installed across all developing nations. Asia-Pacific was the largest region in the power generation market in 2022. Western Europe was the second-largest region in the power generation market. The regions covered in the power generation report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the power generation market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The power generation market includes revenue earned by entities by thermal energy generated from fossil fuels, coal, petroleum, natural gas, solar thermal energy, chemical energy, and potential energy from falling water. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The power generation market research report is one of a series of new reports from The Business Research Company that provides power generation market statistics, including the power generation industry global market size, regional shares, competitors with a power generation market share, detailed power generation market segments, market trends and opportunities, and any further data you may need to thrive in the power generation industry. This power generation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Solar electricity refers to renewable energy obtained from sunlight by using the sun's energy either directly as thermal energy or through the use of photovoltaic cells in solar panels and transparent photovoltaic glass to generate electricity. The electricity produced is then supplied to electric power transmission systems, which are used to move large quantities of power from generating facilities to substations and to distribution systems, which are used for short distances to transport electricity to customers locally. The main types of technologies in solar electricity are photovoltaic systems and concentrated solar power systems. A photovoltaic (PV) system is made up of one or more solar panels, an inverter, and other electrical and mechanical components that use the sun’s radiation to generate power. The different solar modules include monocrystalline, polycrystalline, cadmium telluride, amorphous silicon cells, and others, and are used in various sectors such as residential, commercial, and industrial. The global solar electricity market is segmented - 1) By Technology: Photovoltaic Systems, Concentrated Solar Power Systems 2) By Solar Module: Monocrystalline, Polycrystalline , Cadmium Telluride, Amorphous Silicon Cells, Other Solar Modules 3) By End-User: Residential, Commercial, Industrial The global solar electricity market size will grow from $87.07 billion in 2022 to $106.62 billion in 2023 at a compound annual growth rate (CAGR) of 22.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global solar electricity is expected to grow to $228.59 billion in 2027 at a CAGR of 21.0%. Rising investments from government organizations have contributed to the growth of the solar electricity market. The market has benefited from increased government spending on advanced solar panel research and development. For instance, according to the World Economic Forum (WEF) 2020, global investment in renewable energy reached $282.2 billion last year. Rising investments from government organizations in research and development of electricity generation through solar energy drove the solar electricity market. Major players in the solar electricity market are Enel SpA, Exelon Corp., Dominion Energy, Inc., Engie S.A, Canadian Solar Inc., Sharp Corporation, STATE POWER INVESTMENT CORP. Ltd., Wuxi Suntech Power Co. Ltd., Tata Power Solar, First Solar Inc., Trina Solar Limited, Yingli Solar, ReneSola, Motech Industries Inc., Abengoa Solar S.A., Acciona Energia S.A., Bright Source Energy Inc., Esolar Inc., Gintech Energy Corp., Kaneka Corp., Sunpower Corporation, Verengo Inc., RGS Energy, JA Solar, GT Advantage Technologies, Hanwha Q Cells, SolarCity Corporation, JinkoSolar Holding Co. Ltd., Suntech Power Holdings Co. Ltd., and BHEL. The decline in economic growth is expected to limit the growth of the solar electricity market. A decrease in investments due to the economic slowdown led to a decrease in solar power installations. This is adversely affecting the market growth in several parts of the world. For instance, the economic crisis in Europe has prompted previously supportive European governments to decrease solar energy subsidies. Another such instance was, investment in renewable energy for end use, comprising geothermal energy, bioenergy, and solar thermal applications (for the district, space, and water heating) reached USD 23 billion in 2020, a 10% decrease from 2019 and utility-scale solar PV installation costs were decreased by 10%, on a global average basis, according to World Energy Investment 2021. The economic slowdown decreases investments, thereby impacting the solar electricity market negatively. Artificial intelligence is being used increasingly to meet the rising demands of the solar power market. Artificial intelligence is the machinery simulating the processes of human intelligence, particularly computer systems. Expert systems, natural language processing (NLP), speech recognition, and machine vision are common AI applications. The use of machine learning through microgrid controllers and artificial intelligence (AI) is the latest solar energy technology solution that helps to adapt to growing business needs. These technologies continue to evolve to meet the rising needs of the solar industry and the businesses that use them as an energy-efficient source. Additionally, new software developments are helping to shape the future of companies that are applying artificial intelligence and machine learning to solar energy technology. For instance, in 2022, a project in cooperation with Mekorot, Israel’s national water company, the Israel Innovation Authority tells NoCamels was announced for testing a floating artificial intelligence (AI) powered solar panel that generates electricity by tracking the sun. This solar photovoltaic (PV) system was developed by Israeli startup Xfloat. In July 2021, Mahindra & Mahindra (M&M), an India-based automotive manufacturer, acquired a 31% share in ReNew Sunlight Energy (RSEPL) for $1.6 billion. By acquiring RSEPL shares, M&M will be able to become an exclusive user and use RSEPL's solar energy. As a result, RSEPL has signed an electrical supply deal with the company. ReNew Sunlight Energy (RSEPL) is an India-based solar electricity company. Asia-Pacific was the largest region in the solar electricity market in 2022. Western Europe was the second largest region in the global solar electricity market analysis. The regions covered in the global solar electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the solar electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The solar electricity market consists of sales of passive solar gain, solar thermal, concentrated solar power, and solar photovoltaics. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The solar electricity market research report is one of a series of new reports from The Business Research Company that provides solar electricity market statistics, including solar electricity industry global market size, regional shares, competitors with a solar electricity market share, detailed solar electricity market segments, market trends and opportunities, and any further data you may need to thrive in the solar electricity industry. This solar electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Geothermal energy refers to the heat produced deep in the Earth's core. Geothermal energy is a clean, renewable resource that can be harnessed for use as heat and electricity. Geothermal energy is derived by using the earth's internal heat energy to generate steam through a series of wells and is fed to the power plant to generate electricity. The geothermal electricity market covered in this report is segmented by type into back pressure, binary, double flash, dry steam, single flash, and triple flash. It is also segmented by end-user into dry steam power stations, flash steam power stations, and binary cycle power stations. The global geothermal electricity market is segmented - 1) By Type: Back Pressure, Binary, Double Flash, Dry Steam, Single Flash, Triple Flash 2) By End-user: Dry Steam Power Stations, Flash Steam Power Stations, Binary Cycle Power Station 3) By Application: Residential, Commercial, Industrial, Other Applications The global geothermal electricity market size will grow from $6.57 billion in 2022 to $7.24 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global geothermal electricity is expected to grow to $10.64 billion in 2027 at a CAGR of 10.1%. The growing demand for electricity is expected to drive the geothermal electricity market in the forecast period. The growing economy, rapidly rising populations and increasing demand for transportation, especially in developing countries such as China, India, Brazil and some African countries generates high demand for electricity. The global electricity demand is projected to grow to 38,700 Terawatt-hour (TWH) by 2050, and electric vehicles are expected to account for 9% of the global demand. According to Canada’s Upstream Oil & Natural Gas Industry, with the global population expected to increase by about two billion over the next two decades, it is estimated that by 2040 electricity generation is expected to increase by 49%. Hence, the increasing demand for electricity is expected to drive the growth of the geothermal electricity market in the forecast period. Major players in the geothermal electricity market are Calpine Corp., Comision Federal de, Energy Development Corp., Electricadad (CFE) Enel SpA, Chevron Corporation, COMISION FEDERAL DE ELECTRICADAD (CFE), ENEL SPA, U.S. Geothermal Inc., KenGen, Contact Energy, Orkuveita Reykjavikur, Pertamina Geothermal Energy, CalEnergy Generation, Star Energy Ltd., Northern California Power Agency, Terra-Gen, LLC., ORMAT, Aboitiz Power, Calpine Corporation, Mercury, Pertamina Geothermal Energy, Raya Group, and Cyrq Energy. The geothermal electricity market is being financially supported by governments globally. The government provides grants and other support to stimulate sustainable forms of energy. For instance, in 2022, The Geothermal Energy from Oil and Gas Demonstrated Engineering Funding Opportunity (FOA) was announced by the U.S. Department of Energy (DOE), which will award up to $165 million to expand U.S. geothermal energy deployment by utilizing technologies and labor from the oil and gas industry. This initial FOA is anticipated to offer $10 million to establish a consortium that will provide a roadmap for overcoming geothermal energy's technological and knowledge gaps. Using that roadmap, the U.S. Department of Energy (DOE) will then provide up to an extra $155 million for research to fill up those gaps. The environmental consequences caused by drilling the earth’s surface for geothermal electricity restrict the growth of the geothermal electricity market. The geothermal system involves forcing the pathways for the earth's trapped heat to reach the surface to generate power and create fractures on the earth’s surface. The construction of a geothermal electric power plant makes the surface uneven and more vulnerable to earthquakes. Other concerns regarding geothermal electricity include the potential for surface instability and sudden sulfur dioxide and silica emissions. For instance, in 2021, according to France's National Seismic Monitoring Network (Renass), a canceled geothermal project caused a 3.9 magnitude earthquake in the eastern city of Strasbourg, France. The increased risk of earthquakes and other environmental-related concerns hampers the growth of the geothermal electricity market. The companies in the geothermal electricity market are investing in new technologies to make geothermal energy easily accessible to generate electricity and for other heating purposes. Large amounts of geothermal energy are extracted only from places where it is easy to access very hot water. However, in countries like the UK and France, the availability of such hot water or hot water steam is very low as compared to places with volcanoes, such as Iceland and Indonesia. Following that, companies are investing in new approaches to make geothermal energy easily extractable and available. For instance, Climeon, a Sweden-based company, invented a technology that operates in temperatures between 70 °C and 120 °C and uses the temperature differences between hot and cold water to produce electricity. The method, unlike solar and wind power, is continuously available and is not affected by the weather. In 2021, Net Trading Group, a UK-based industrial group, acquired Rock Energy GroupNet Trading Group hopes to expand its presence and build a group with its investments targeted at building a new Nordic industrial group. Rock Energy Group is a Canada-based geothermal company that specializes in solutions for drilling deep geothermal wells, for the exploitation of deep geothermal energy from hot dry rocks. Asia-Pacific was the largest region in the geothermal electricity market in 2022. Western Europe was the second-largest region in the global geothermal electricity market share. The regions covered in the global geothermal electricity market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the geothermal electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The geothermal energy market consists of sales of dry steam, hydrothermal, geopressurized, hot dry rock, magma, and flash steam. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The geothermal electricity market research report is one of a series of new reports from The Business Research Company that provides geothermal electricity market statistics, including geothermal electricity industry global market size, regional shares, competitors with a geothermal electricity market share, detailed geothermal electricity market segments, market trends and opportunities, and any further data you may need to thrive in the geothermal electricity industry. This geothermal electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Wind electricity, which is produced by wind power, refers to the process by which the wind is used to generate mechanical power or electricity. Wind turbines convert the kinetic energy in the wind into mechanical power. The electricity produced is then supplied to electric power transmission systems, which are used to move large quantities of power from generating facilities to substations and to distribution systems, which are used for short distances to transport electricity to customers locally. The main connectivity types in the wind electricity market are on-grid and off-grid. A solar power generation system that is connected to the utility grid is known as an on-grid solar power system. The electricity generated by the system is fed into the grid and used to power various gadgets. The different locations include onshore, and offshore and are implemented in industrial, commercial, and residential sectors. The global wind electricity market is segmented - 1) By Connectivity: On-Grid, Off-Grid 2) By End-User: Industrial, Commercial, Residential 3) By Location: Onshore, Offshore The global wind electricity market size will grow from $129.22 billion in 2022 to $147.35 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global wind electricity is expected to grow to $239.24 billion in 2027 at a CAGR of 12.9%. Growing investments in the clean energy sector are contributing to the growth of the wind electricity market. Clean energy is energy derived from renewable, zero-emissions sources that do not pollute the environment. Solar, hydro, and wind energy are the primary sources of clean energy. For instance, in 2020, according to 'Africa Business Communities', the UK invested over $66.7 million (£50 million) in clean energy projects in Africa. The UK government has invested in advanced, clean technology and is partnering with African countries to develop sustainable energy sources to meet the African energy demand, which is set to increase by 60% by 2040. Growing investments in the clean energy sector to meet energy demand are driving the wind electricity market growth. Major players in the wind electricity market are Ming Yang Smart Energy Group Ltd., NextEra Energy Resources, LLC., Pacific Hydro Pty Ltd., Shell WindEnergy, Inc., TransAlta Corporation, Xinjiang GoldWind Science & Technology Co., Ltd., Berkshire Hathaway Energy, Pattern Energy, IBERDROLA Renewables, EON Climate & Renewables, Alstom, ABO-Wind, Vattenfall, A2 Sea, Tradewind Energy, Geronimo, ReGen Powertech, Leitwind, Doosan Heavy Industries & Construction, Northland Power Inc., Duke Energy Corporation, Electricité de France S.A., American Electric Power (USA), Orsted A/S, DeWind Inc., Dongfang Electric Corporation Limited, Enel Green Power S.p.A., Wind World (India) Limited, Eurus Energy Holdings Corporation, and Guodian United Power Technology Company Limited. Weather conditions have always been a major challenge in the wind electricity market. Weather change is related to the most extreme weather conditions from around the globe. For instance, in 2021, SSE PLC., a UK-based energy company, updated that its renewable assets produced 32% less power than expected as low speeds and dry conditions hit the wind and hydro output. Adverse weather conditions have a negative impact on wind electricity, resulting in a decline in wind power generation. In the wind energy power generation market, hybrid wind-hydro power generation systems have emerged as a key trend. Hybrid wind-hydro power generation systems generate electricity by combining wind turbines and pumped storage. Using these systems, electric power from wind energy is generated around the clock, and electric power from water movement is generated when the water flows down from the reservoirs. When there is surplus energy, the additional water is pumped back into the reservoirs, acting as a large-scale battery. Due to the simultaneous work of wind turbines and hydro turbines, there is a continuous supply of electricity from the plant. For instance, in 2020, India introduced a 30 GW hybrid solar and wind power project in the Kutch district. By 2022, the country intends to increase renewable energy capacity to 175 GW and by 2030, to 450 GW. Power generation companies should consider embracing the hybrid wind-hydro turbine model to improve their electricity generation outputs. In July 2021, Mahindra & Mahindra (M&M), an India-based automotive manufacturer, acquired a 31% share in ReNew Sunlight Energy (RSEPL) for $1.6 billion. By acquiring RSEPL shares, M&M will be able to become an exclusive user and use RSEPL's solar energy. As a result, RSEPL has signed an electrical supply deal with the company. ReNew Sunlight Energy (RSEPL) is an India-based wind energy power generation company. Asia-Pacific was the largest region in the wind electricity market in 2022. Western Europe was the second largest region in the global wind electricity market share. The regions covered in the global wind electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the wind electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The wind electricity market includes revenues earned by entities by horizontal-axis turbines and vertical-axis turbines. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The wind electricity market research report is one of a series of new reports from The Business Research Company that provides wind electricity market statistics, including wind electricity industry global market size, regional shares, competitors with a wind electricity market share, detailed wind electricity market segments, market trends and opportunities, and any further data you may need to thrive in the wind electricity industry. This wind electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The IoT in utilities is the concept for developing advanced solutions that improve productivity and accuracy, solve critical problems, and improve real-time decision-making. It is used to reduce emissions, distribute energy resources, accommodate the integration of renewables, and improve reliability and efficiency. IoT in the utility is used for creating powerful connected networks of data flows among distributed energy resources (DERs), in-home devices, and nano/microgrids. The main types of IoT in utilities are platforms, solutions, services, and others. IoT utility solutions refer to a set of activities conducted for the development and sale of IoT in utilities for solutions. An IoT solution is a seamlessly integrated array of technologies, including multiple sensors, to solve a problem and create new organizational value. The different technologies include sensors, RFID, and connectivity technology, which are used in various applications such as electricity grid management, gas management, water and waste management, and others. The global iot in utilities market is segmented - 1) By Component: Platform, Solutions, Services, Other Components 2) By Technology: Sensors, RFID, Connectivity Technology 3) By Application: Electricity Grid Management, Gas Management, Water and Waste Management, Other Applications The global iot in utilities market size will grow from $43.86 billion in 2022 to $49.68 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the iot in utilities is expected to grow to $81.01 billion in 2027 at a CAGR of 13.0%. The increasing demand for digitization is expected to propel the growth of the IoT in the utility market going forward. Digitization in the IoT in the utility market uses digital tools to logically monitor and upgrade physical infrastructure, automation to improve workforce safety and efficiency, and hence improve customer interaction. Digitization also improves the integration of distributed systems with an advanced grid digital technology. For instance, according to Trade Arabia, an Abu Dhabi-based news agency, in April 2022, the utility sector saw a spike in the implementation of digitization technology driven by a reduction in operating expenses of up to 25% and performance gains of 20% to 40% in areas such as safety, reliability, customer satisfaction, and regulatory compliance. Therefore, increasing demand for digitization is driving the IoT in the utility market growth. Major players in the IoT in utilities market are International Business Machines Corporation, Oracle Corporation, Verizon Communications, Cisco Systems Inc., Vodafone Group, Telit, Landis+Gyr, Itron Inc., Schneider Electric SE, Huawei Technologies, Trimble Inc., ABB Corporation, Honeywell International Inc., Siemens AG, General Electric, Aclara Technologies LLC, Trilliant Networks Inc., Energyworx, HCL Technologies, Altair Engineering, Actility S.A, WAVIoT, and Rayven LLC. Integration of new technologies has emerged as a key trend gaining popularity in the IoT in the utility market. Major companies operating in the market are focused on integrating new technologies to gain a competitive advantage. For instance, in March 2022, according to the Dubai Electricity and Water Authority (DEWA), a Dubai-based utility firm launched a 6U nanosatellite with customized high-resolution image sensing technology specifically designed to communicate with its IoT terminals. They are mainly designed to be used in energy and water networks and will be deployed to detect thermal fingerprints in excessive voltage transmission lines, substations, homes, and solar power stations. In February 2022, Gridspertise, an Italy-based smart grid solutions provider that uses IoT in utilities, collaborated with Qualcomm for an undisclosed amount. This collaboration will enable Gridspertise to explore opportunities for electricity distribution asset monitoring and grid digitalization for global utilities. Qualcomm is a US-based semiconductor company that provides IoT devices and services. North America was the largest region in the IoT in utilities market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT in utilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the IoT In utilities market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The IoT in the utility market consists of revenues earned by entities by providing asset monitoring management and network management. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The IoT in utilities market research report is one of a series of new reports from The Business Research Company that provides IoT in utilities market statistics, including IoT in utilities industry global market size, regional shares, competitors with an IoT in utilities market share, detailed IoT in utilities market segments, market trends and opportunities, and any further data you may need to thrive in the IoT in utilities industry. This IoT in utilities market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.