Global Wind Electricity Market

Switchgear Market Definition

The switchgear market consists of sales of switchgear and related services by entities (organizations, sole traders and partnerships) that produce switchgear that are used in various applications such as in transmission and distribution utility, residential, commercial and industrial settings. Switchgear refers to a collection of switching devices including electrical disconnect switches, fuses or circuit breakers, which are used for controlling, protecting, and switching the electrical circuits and equipment. Under fault conditions, it detects the fault and interrupts the flow of electricity to the affected section, thereby isolating it from the healthy circuit

Air Purifiers Market Definition

The air purifiers market consists of sales of air purifiers and related services by entities (organizations, sole traders and partnerships) that produce air purifiers for purification of airborne toxins and particulate matter. The usage of air purifiers is to minimize the health risks associated with breathing air containing pollen grains, harmful gases, and emissions. Air purifiers help in the elimination of dust particles, dust mites, bacteria, smoke particles, pet dander, cooking smoke, car exhaust fumes, and other gaseous contaminants.

The electricity and signal testing instruments market consist of sales of electricity and signal testing instruments and related services such as detecting faults in the operation of electronic devices, 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, for checking electronic test equipment and maintenance in various industries. Some of the products manufactured by these instruments include circuit and continuity testers, volt meters, ohm meters, watt meters, mustimeters, and semiconductor test equipment. The global electricity and signal testing instruments market is expected to grow from $54.59 billion in 2020 to $58.33 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $74.62 billion in 2025 at a CAGR of 6%. The electricity and signal testing instruments market covered in this report is segmented by type into electricity testing instruments, other testing and measuring instruments, semiconductor and signal testing instruments. 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 a strong growth due to rise in construction activity. The increasing demand in construction activity was aided by rising disposable income, strong economic growth, stable political environment and increasing foreign investments. According to the global information, 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 market for electricity and signal testing instruments. Trade protectionism pertaining to construction industry are 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 aluminium. The increasing trade protectionism in construction industry has a negative impact on electricity and signal testing instruments market. Therefore, the increasing trade protectionism limits the growth of electricity and signal testing instruments market. The companies in the electricity and signal testing instruments are increasingly investing in miniaturization of the instruments. The fast growth in the electronics industry is leading to the development of small-sized electronic devices for which miniaturised test and measurement equipment are required. Miniaturised test and measurement equipment is flexible and easy to use. For example, Advantest is currently offering miniaturised electricity and signal testing equipment in order to keep up with the growing end user demand. In January 2019, Teradyne, an American developer and supplier of automatic test equipment acquired Lemsys for an undisclosed amount. The acquisition includes change of ownership and enhances Lemsys’s growth through Teradyne’s global distribution and financial strength. This acquisition will allow Teradyne to expand product development and market growth. Lemsys is a Switzerland based company which produces test equipment for the semiconductor industry, electric vehicles, wind and solar power generation, and high-power industrial applications. The major players covered in the global electricity and signal testing instruments market are Fortive Corporation, Rohde & Schwarz GmbH & Co, Anritsu Corporation, Advantest Corp, Teradyne Inc, Good Will Instruments. The countries covered in the global electricity and signal testing instruments market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global electricity and signal testing instruments market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. 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 Application: Environmental Protection, Rail, Water Affairs, Municipal, Others

The geothermal electric power generation market consists of sales of geothermal electric power and related services. Geothermal energy is derived 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 wind electric power generation market consists of sales of wind power and related services. The wind electric power generation industry includes establishments engaged in producing electricity by using wind turbines. The wind energy is converted to electric power through the rotation of the blades of a rotor (between 10 and 25 rpm), producing kinetic energy, which in turn drives a generator that converts the mechanical energy into 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. This market includes revenues generated from both offshore and onshore wind turbines.

The engine, turbine, and power transmission equipment market consists of sales of engine, turbine, and power transmission equipment by entities (organizations, sole traders or partnerships) that produce turbines, power transmission equipment, and internal combustion engines (except automotive gasoline and aircraft). The engine, turbine, and power transmission equipment market is segmented into commercial internal combustion engines; turbine and turbine generator set units; mechanical power transmission equipment; and speed changer, industrial high-speed drive, and gear. The global engine, turbine, and power transmission equipment market is expected to grow from $494.46 billion in 2020 to $516.7 billion in 2021 at a compound annual growth rate (CAGR) of 4.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $712.24 billion in 2025 at a CAGR of 8%. Asia Pacific was the largest region in the global engine, turbine, and power transmission equipment market, accounting for 39% of the market in 2020. Western Europe was the second largest region accounting for 31% of the global market. Africa was the smallest region in the global engine, turbine, and power transmission equipment market. The engine, turbine, and power transmission equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the engine, turbine, and power transmission equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Machinery manufacturers depend heavily on supply of raw materials, parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the engine, turbine, and power transmission equipment manufacturing 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 Gas turbine and power generation equipment manufacturers are adopting modular turbine designs to reduce onsite works and offering short installation times. Modular turbine design is a prefabricated electricity generating equipment in a factory, packaged to reduce the timeline to construct a power plant. They are reliable and low-cost equipment to reduce construction, design, installation and delivery times. These modular designs can be prefabricated and delivered not only in gas turbines, but also in other components of power plants such as engine modules, fuel delivery systems, emissions control equipment, heat recovery steam generator (HRSG) modules, generators, pipe racks and other auxiliary systems. Major companies providing modular turbine designs are VESTAS, ENERCON and GE. In 2019, Vestas introduced EnVentus, a modular wind-turbine platform based on advanced modular design. Major companies in the market include General Electric Co; Siemens Corporation; Caterpillar Inc; Cummins Inc; Vestas Wind Systems A/S. The countries covered in the global engine, turbine, and power transmission equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global engine, turbine, and power transmission equipment market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global engine, turbine, and power transmission equipment market is segmented - 1) By Type: Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear 2) By Capacity: Small, Medium, Large Subsegments Covered: Diesel Powered Internal Combustion Engines, Gasoline Powered Internal Combustion Engines, Natural Gas Powered Internal Combustion Engines, Other Powered Internal Combustion Engines, Steam And Gas Turbine, Wind Turbine, Hydro Turbine, Plain Bearings, Joints, Clutches, Couplings, Pulleys, Chains And Sprockets, Other Mechanical Power Transmission Equipment

Electronic Products Market Definition

The electronic products market consists of sales of electronic products by entities (organizations, sole traders and partnerships) that produce electronic products. These include semiconductors, audio and video equipment and other electronic components. Electronic products are electronic devices that stores, generates or transmits information in electronic form. These are components used for controlling the flow of electrical currents for information processing and system control. Electronic products include televisions, speaker systems, household-type video cameras, jukeboxes, and amplifiers for musical instruments are used for various applications such as entertainment and communication.

The spring and wire product market consists of the sales of spring and wire products by entities (organizations, sole traders or partnerships) that produce steel springs by forming, such as cutting, bending, and heat winding, metal rod or strip stock and/or produce wire springs and fabricated wire products from wire drawn elsewhere (except watch and clock springs).