The global power distribution unit market size stood at USD 4,120.0 million in 2023, which is expected to reach USD 6,837.6 million by 2030, advancing at a CAGR of 7.7% between 2024 and 2030.
The shore power market size stood at USD 1,568 million in 2022, and it is expected to advance at a compound annual growth rate of 12.2% during 2022–2030, to reach USD 3,932 million by 2030.
The lithium-ion battery market size was valued at $49.6 billion in 2022, and it is expected to grow at a CAGR of 16.3% during 2022–2030, to reach $165.6 billion by 2030.
The global heat transfer fluids market size in 2021 was $3,628.1 million, and it is expected to advance at a CAGR of 9.6% during 2021–2030, to reach $8,247.1 million by 2030.
The solid-state battery market size is projected to reach $775.2 million by 2030 from $61.3 million in 2021, at a 32.6% CAGR during 2021–2030.
The global advanced distribution management system market size stood at an estimated $1,998.0 million in 2021, which is projected to advance at a CAGR of 19.7% during 2021–2030, to reach $10.097.9 million by 2030.
The global fuel cell market size was about $1,799.9 million in 2021, and it is expected to advance at a CAGR of 33.2% during 2021–2030.
The U.A.E. mechanical, electrical, and plumbing (MEP) services market stood at $3,025.9 million in 2020, and it is expected to grow at a CAGR of 15.7% during the forecast period (2021–2030).
Energy efficiency and digitization are two prominent trends identified in the global pad-mounted transformer market. Boosting output is one way to achieve power targets. Energy efficiency is another means of augmenting the overall power capacity via less wastage and more efficient, lower consumption and also aids in meeting lower carbon emission targets under the United Nation Sustainable Development Goals (UN SDG).
According to Global Energy Statistical Handbook (2018), there has been an increase in worldwide energy production and consumption during 2009–2017. The developing countries like India, China, and Indonesia have contributed to much of it.
The major trend identified in the global high voltage cables market is the growth in energy infrastructure, coherent integration of energy efficient systems, and projects for centralization and decentralization of grids. This is likely to offer traction to the market.