Switchgear Monitoring System in North America: Innovations and Market Growth

 The global Switchgear Monitoring System Market is projected to reach USD 2.7 billion by 2028 from an estimated USD 1.8 billion in 2023, at a CAGR of 8.4% during the forecast period. The demand to secure electrical distribution systems is the need for the continuous monitoring of switchgear, and growing investments in renewable energy offer high-growth opportunities for the market.

Gas Insulated Switchgear, by type, is expected to grow by the largest segment during the forecast period.

Based on type, the switchgear monitoring system market has been segmented into gas insulated switchgear and air insulated switchgear. Monitoring systems are in high demand for the Gas insulated switchgear systems, as switchgear monitoring systems are essential for gas-insulated switchgear (GIS) to ensure its reliability, safety, and longevity. GIS is a type of high-voltage switchgear that uses sulfur hexafluoride (SF6) gas as an insulating medium. SF6 gas is a highly effective insulator, but it can also pose environmental hazards if it leaks. Therefore, it is important to monitor the SF6 gas pressure and density in GIS to ensure that it is not leaking.

In North America, the adoption of GIS monitoring systems is expected to rise due to increasing investments in grid modernization and renewable energy integration. Utilities across the region are prioritizing advanced monitoring technologies to improve operational efficiency and comply with stringent environmental regulations regarding SF6 gas emissions.Additionally, growing demand for reliable power infrastructure in urban areas, along with the replacement of aging grid components, is driving the need for GIS monitoring solutions in North America.

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The partial discharge monitoring segment, by services segment, is expected to grow at the second fastest CAGR during the forecast period.

This report segments the switchgear monitoring system market based on services into partial discharge monitoring, gas monitoring, temperature monitoring, and others. Partial discharge within switchgear poses a significant risk as it can lead to insulation breakdown, resulting in critical issues like electrical arcing and equipment failure. The implementation of partial discharge monitoring not only enhances operator safety but also instills confidence in the reliability and safety of electrical equipment.

In North America, the demand for partial discharge monitoring systems is expected to rise due to the region’s focus on grid modernization, increasing adoption of smart grid technologies, and stringent regulatory standards for electrical safety. Utilities and industrial operators are investing in predictive maintenance solutions to minimize downtime and optimize the lifespan of switchgear assets. Additionally, with aging power infrastructure in the US and Canada, there is a growing need for advanced monitoring solutions to prevent equipment failures and ensure uninterrupted power supply.

Software is expected to be the fastest segment, by component in the switchgear monitoring system market.

This report segments the switchgear monitoring system market based on component into Hardware and software. The pivotal role of hardware in establishing a robust switchgear monitoring platform cannot be overstated. Hardware devices play a crucial role in overseeing, measuring, transmitting, and analyzing data across various sectors, including process and non-process industries, utilities, the commercial sector, and beyond. The continuous innovation in hardware solutions is expected to further enhance the reliability, intelligence, and adaptability of these systems across a wide range of industrial and commercial applications.

In North America, the rapid adoption of software-driven switchgear monitoring solutions is being fueled by the increasing need for real-time data analytics, predictive maintenance, and grid reliability enhancements. With utilities and industrial sectors shifting towards digitalization, cloud-based monitoring platforms and AI-powered analytics are gaining traction to optimize asset performance and reduce operational risks. Furthermore, the integration of software with IoT-enabled switchgear is driving the demand for advanced monitoring systems, particularly in the US and Canada, where smart grid initiatives and regulatory compliance measures are accelerating the transition to intelligent switchgear solutions.

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North America is expected to be the second fastest region in the switchgear monitoring system market.

The US government has set a target to reduce carbon pollution from the power sector by 32% below the 2005 levels by 2030. To achieve this, utilities in the US and Canada plan to replace and upgrade aging power infrastructure, improving reliability and power generation capacity. According to the DOE, power blackouts are costing USD 150 billion per year in North America. Most of the power infrastructure, which is unreliable, poses a threat to national security. These factors positively push the North American power distribution sector, creating growth opportunities for the switchgear monitoring system markets.

Key Players

Some of the major players in the Switchgear Monitoring System market are ABB (Switzerland), Siemens Energy (Germany), Schneider Electric (France), General Electric (US), and Eaton (Ireland).

Portable Power Station Market: Promising Solution to Off Grid Power Supply

 The global portable power station market is projected to reach USD 1.12 billion by 2028 from an estimated USD 0.48 billion in 2023, at a CAGR of 18.4% during the forecast period. Portable power stations are portable and compact devices that function as independent power sources. Their purpose is to store electrical energy obtained from diverse sources such as solar panels, wall outlets, or car chargers, and subsequently utilize this energy to supply power to electronic devices and appliances. The growing demand for market backup power for portable power stations is increasing as a result of reliable, rising outdoor recreational activities and increasing use of renewable energy sources. Recurring electrical outage about the need for severe weather conditions, an aging power grid, and requirement for emergency preparations has increased the demand for portable, off-grid energy solutions.

In North America, the market is growing rapidly as a result of increasing consumer demand for green power solutions, rising natural disasters and renewable energy infrastructure for heavy investment in the infrastructure. The increasing popularity of electric vehicles and their integration along with solar power systems also demand fuel. The government also plays an important role in expanding the market towards encouragement and stability by the government towards clean energy.

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The 200–400 Wh, by capacity, is expected to grow at the highest CAGR during the forecast period.

The 200–400 Wh, by capacity, is expected to grow at the highest CAGR during the forecast period.  Based on capacity, the potable power station market has been split into 0−100 Wh, 100−200 Wh, 200−400 Wh, and 400−1,000 Wh, 1,000−1,500 Wh, and 1,500 Wh and above. Portable power stations with a capacity of 200–400 Wh are specifically designed to supply power to both small and medium-sized devices. Stations with capacity of 200−400 Wh find applications in residential power, commercial power, and outdoor environments. In residential power settings, they serve as reliable backup power sources for essential household appliances and communication devices. Similarly, in commercial power scenarios, they are utilized for charging laptops, tablets, and various other communication devices. The technologies employed in these portable power stations within the 200 Wh to 400 Wh capacity range encompass both lithium-ion and sealed lead-acid options, offering users a range of choices to meet their specific power needs.

The hybrid power segment, by power source, is expected to be the largest segment during the forecast period.

The hybrid power segment, by power source, is expected to be the largest segment during the forecast period.This report segments the portable power station market based on power source into two segments: hybrid power, and direct power. The hybrid power segment is expected to be the largest segment during the forecast period. The market for hybrid power is being driven by the growing emphasis on renewable energy and the reduced dependency on fossil fuels. Solar power, with its ability to be utilized in off-grid locations where direct power access is limited or non-existent, is favored for its key advantage. Portable power stations used for camping and recreational vehicle purposes are typically charged using solar energy.

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North America is expected to be the largest region in the portable power station market 

North America is expected to be the largest region in the portable power station market  North America is expected to be the largest portable power station market during the forecast period. The growth of the portable power station market in the North America region, which includes the US, Canada, and Mexico, is attributed to several factors. These include the rise in outdoor activities such as camping and recreational activities, the implementation of strict regulations regarding emission control, and the increasing inclination towards smart grid devices. The camping sector in North America, as highlighted by the World Tourism Council and Kampgrounds of America, Inc. (KOA), is characterized by its high diversity. It is observed that half of the new campers are from non-white groups, with a growing number of Asian, Hispanic, and African American outdoor enthusiasts adopting the camping lifestyle. The popularity of camping and recreational activities has been consistently increasing, as reported by The North American Camping Report, with a notable growth trend across the US. Private campgrounds in countries like the US and Canada are actively preparing for this surge in camping demand by expanding their park sites and introducing new and unique camping offerings. These include the addition of comfortable RV patio sites, glamping tents, and full-service cabins. Furthermore, the future production of lithium-ion batteries can benefit from the abundant lithium deposits found in the US.

The Key players in the Portable Power Station Market are Goal Zero (US), Jackery (US), Duracell (US), EcoFlow (US), Anker Innovations (US), and Lion Energy (US). These companies have a strong diversified product portfolio and a strong global presence.

The Rise of Screw Compressors: Market Trends and Technological Advancements

 The global Screw Compressor Market is projected to grow from estimated USD 12.74 billion in 2025 to USD 16.30 billion by 2030, at a CAGR of 5.0% during the forecast period. The market is growing due to Industrialization, demand for energy-efficient solutions, and growth in the manufacturing, oil and gas, and construction industries. Strict emission regulations and the necessity for low-maintenance, high-performance compressors propel adoption. Automation and smart monitoring advancements also stimulate growth in the market.

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Oil Free segment by type

Stringent environmental laws, increasing demand for clean and contaminant-free air, and rapid adoption of oil-free compressors in food and beverages, medical and pharmaceuticals, and other industries are causing the oil-free screw compressor segment to be the fastest-growing one. These industries need oil-free air, which serves as an essential function in avoiding contamination in production work. New developments in energy-saving, low-maintenance oil-free compressors have turned out to be economical, thereby increasing their adoption. Growing awareness about sustainability and minimal carbon emissions are accelerating the path for switchovers from oil-lubricated to oil-free screw compressors.

Above 250 HP segment by capacity

The segment above 250 HP is the largest in the Screw Compressor Market and is mostly used in heavy industries such as oil & gas, power generation, and mining, where hefty-capacity compressors are needed for continuous duty. These industries need low-pressure-high-airflow compressors for their demanding applications. Furthermore, increased investment in mega infrastructure projects, petrochemical plants, and industrial automation spurs the demand for high-performance and energy-efficient screw compressors in this sector.

Asia Pacific is expected to be the fastest region in the Screw Compressor Market during the forecast period

Asia-Pacific market is the fastest growing market for screw compressor due to rapid industrialization, urbanization, and infrastructure development. Manufacturing, construction, and oil-and-gas industries are expanding rapidly to cater to the growing demand for compressed air-efficient solutions. Most of these booming industries including governmental initiatives for popular reclamations of energy-efficient technologies are expected to add strength to this growth; along with investments in renewable energy and petrochemicals, strong signs have emerged to continue using sino-chien-screw compressors as its most reliable and continuous operation.

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Key Players

The report profiles key players such as Atlas Copco AB (Sweden), Ingersoll Rand (US), Hitachi, Ltd (Japan), and ELGi (India).

Ingersoll Rand (US)

Ingersoll Rand (US) is s provider of pneumatic equipment, compressed air and gas systems, and industrial solutions. The company operates its businesses through two segments: Industrial Technologies & Services, Precision & Science Technologies. It offers screw compressors under its Industrial Technologies & Services segment. The Industrial Technologies & Services segment offers a range of air and gas compressors, vacuum and blower products, fluid transfer equipment, loading systems, power tools, and lifting equipment, as well as aftermarket parts, consumables, and services. The company’s screw compressors are used in various end-use industries, such as automotive, chemicals, electronics, food & beverages, oil & gas, pulp & paper, power generation, metals and machinery, pharmaceuticals, and textiles.

Ingersoll Rand has a sales presence in more than 175 countries in North America, Latin America, Europe, Asia, the Middle East and Africa, and Australia. In addition to the US, Ingersoll Rand has manufacturing facilities in Germany, the UK, China, Finland, Italy, India, and other countries.

Atlas Copco AB (Sweden)

Atlas Copco AB (Sweden) is one of the leading provider of compressors, vacuum solutions, generators, pumps, power tools, and assembly systems in the global compressed air filter and dryer market. The company operates its business through four segments: Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique. Atlas Copco offers screw compressors through the Compressor Technique segment. This segment also offers compressed air solutions; industrial compressors; gas and process compressors and expanders; air and gas treatment equipment; air management systems; and related services.

The company’s air compressor products are used in various industries, such as automotive, electronics, chemicals & petrochemicals, fertilizers, food & beverages, oil & gas, pharmaceuticals, and power generation. The company operates in all major regions, including the Americas, Europe, Africa, the Middle East, and Asia Pacific.

Future of Energy: $100.34 billion Energy as a Service Market will Grow Rapidly by 2030

 The global Energy as a Service Market is anticipated to grow from estimated USD 51.88 billion in 2024 to USD 100.34 billion by 2030, at a CAGR of 11.6% during the forecast period. Major forces driving the Energy as a Service Market include the increased need for energy efficiency, surging energy prices, and global trends toward carbon neutrality and sustainability. Business houses are adopting EaaS solutions in order to bring their energy usage under control and reduce operational cost as they work towards achieving compliance with regulatory mandates toward decarbonizing. Higher growth in the market can be seen through the faster integration of distributed energy resources, which are mainly solar, wind, and energy storage systems. Energy management technologies such as IoT, AI, and demand response systems also now allow real-time optimization and automation of energy. Subscription-based models with minimal upfront capital expenditures and encouraging government policies regarding renewable energy will also help boost the EaaS market significantly.

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By The Energy-Efficiency and Optimization Services segment

Energy efficiency and optimization services are becoming more robust due to the rising demand to monitor the energy costs and achieve proper energy efficiency compliance. Buildings across the world account for 30% of energy consumption and about 40% of CO2 emissions that have increased the demand for energy optimization solutions. The energy efficiency investments have risen to USD 600 billion in 2022, wherein control of the cost and efforts to overcome the sustainability dimension are becoming more crucial. In this scenario, with the emergence of the advanced technologies of IoT, AI, and machine learning, the scope has been created to monitor energy usage in real time, analytics in terms of predictability, and autonomous control abilities with increased optimisation capability.

The Industrial segment, by end user

Industrial is primarily represented by the manufacturing of automobiles, the chemical industries, the recycling industries, military, and others like steel manufacturing and paper & pulp. Energy use in the industrial sector encompasses a large area, from process and assembly to steam and cogeneration, from process heating and cooling to lighting, heating, and air-conditioning buildings. Renewable energy sources are used for 46% of global electricity generation, and wind and solar PV make up 30%. Solar PV will be the leading source in 2030, followed by wind, both of which pass hydropower. Industrial companies' electricity use makes up a major part of global CO2 emissions because it relies on fossil fuel-based power generation. The industry would account for about 44% of global electricity use. Energy-as-a-Service is increasingly becoming a model adopted by industries for optimal usage of energy, cost-effectiveness, and sustainability. Manufacturing facilities use EaaS to handle high energy demands through on-site solar installations, battery storage systems, and demand response programs.

Regional Analysis

Europe Energy as a Service Market size is projected to reach USD 28.99 billion by 2030, at a CAGR of 11.2% between 2024 and 2030. Energy services for heating, cooling, cooking, lighting, transport, and manufacturing are indispensable for society.Over the last two decades renewable energy in the EU has expanded greatly as a result of favorable policies and technological developments; following the significant decline in greenhouse gas emissions in 1990, these emissions have now been continually reducing. The 20% renewable target achieved by the EU in 2020, and in 2023, renewable sources were estimated to be taking 24.1% of the final energy use in the EU. The European region is in the midst of a transformative shift in its power sector, one that is more focused on energy security, solidarity, and trust as it diversifies energy sources and optimizes the use of energy at home. A fully integrated internal energy market is aimed to ensure the free flow of energy across the EU, promoting competition and providing the best energy prices. Energy efficiency measures focus on reducing pollution and greenhouse gas emissions while decreasing dependency on imported energy. The EaaS project has been funded by the European Union's Horizon 2020 research and innovation program. This project focuses on mainstreaming an innovative and disruptive business financing scheme and aims to increase and accelerate the adoption of energy efficient technologies by SMEs in the EU. The EaaS suggests a program that intends to establish and implement a new business model and financial structure that will enable and facilitate the market transition and adoption to the energy-efficient equipment-as-a-service.

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Key Players

The Energy as a Service Market is dominated by major players that have a wide regional presence. Some of the key players in the Energy as a Service Market are Johnson Controls (Ireland), Veolia (France), Schneider Electric (France), Ameresco (US), Siemens (Germany), EDF Energy (US), Edison International (US), GE Vernova (US), Honeywell International Inc. (US), Centrica plc (UK), Alpiq Holding AG (Switzerland), and Duke Energy Corporation (US) among others.

Nuclear Power Market Likely to Boost Future Growth by 2029

 The global Nuclear Power Market Share is expected to grow from estimated USD 38.84 billion in 2024 to USD 44.71 billion by 2029, at a CAGR of 2.9% during the forecast period. The major factors driving the market growth of the nuclear power market include various driving factors such as many governments view nuclear power as a strategic constituent of their energy policy, and provide subsidies, tax incentives, or direct investment to build up nuclear projects. For example, some countries like China, Russia, and France have long-term plans to expand their nuclear power capacity. In addition, governments also set regulatory frameworks that ensure the safe development of nuclear energy. Similarly, Volatile and rising prices of fossil fuels such as oil, gas, and coal also make nuclear energy even more appealing as a cost-competitive alternative. Since fuel is needed in only small amounts in nuclear plants, uranium price volatility does not significantly affect the general energy costs.

Regional Analysis

The Asia-Pacific region is a significant factor for the nuclear power market due to rapid industrialization, energy demand increase, and government initiatives under the goals of decarbonization. Among the countries, China, India, and South Korea have been leaders by investing massive amounts in developing new nuclear plants and advanced reactor technologies. China is dominant in terms of the ambitious energy strategy and large-scale reactor deployment. Furthermore, supportive policies and technological innovations foster growth. The region's push toward reducing greenhouse gas emissions, combined with factors such as urbanization and economic growth, promotes the adoption of nuclear power and makes the Asia-Pacific region the world's largest-growing nuclear energy market.

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Power Generation by application

Power generation application is expected to account largest market share during the forecast period.  Nuclear power plants produce enormous amounts of electricity uninterruptedly and thus are the choice option for increased energy production based on increasing urbanization, industrialization, and technological development. Their baseload capability to produce stability and reliability in power is essential, especially in emerging economies where electricity consumption keeps rising. Since the energy generation from wind and sun is intermittent, a high output by nuclear power ensures constant energy generation while reducing dependence on fossil fuel as energy needs expand more globally. 

Large nuclear reactor, by capacity 

Large reactors generate a lot of electricity, hence achieving economies of scale. Their high output helps to cover increasing energy demand in a much better way that brings the economies in the long term. The plants become favorites because they provide a constant and stable power supply for big industrial sectors and urban centers. Moreover, Large nuclear reactors create stable baseload power, hence stabilizing the grid, primarily because of the growing integration of renewables in countries. This helps ensure a stable, consistent supply of energy, and, as such, large reactors are capable of supplying a long power system demanding a constant generation of electricity.

Key Players

Some of the major players in the Nuclear Power Market are The State Atomic Energy Corporation ROSATOM (Russia), EDF (France), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), AtkinsRéalis (Canada), Westinghouse Electric Company LLC. (US), Rolls-Royce plc (UK), NuScale Power, LLC. (US), China National Nuclear Corporation (China), Holtec International (US), ULTRA SAFE NUCLEAR (US), and Seaborg Technologies (Denmark) Among others.

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The State Atomic Energy Corporation Rosatom

The State Atomic Energy Corporation Rosatom (Russia), is one of the diversified corporations involved in all stages of the nuclear production chain. The company specializes in nuclear energy, nuclear plants, nuclear reactors & services, nuclear power generation, uranium enrichment, innovation, nuclear fuel, nuclear equipment, nuclear engineering, electricity trading, nuclear decommissioning, radioactive waste management, and nuclear fuel cycle. its business segments include uranium exploration and mining, nuclear fuel fabrication, nuclear power plant design and construction, power generation, and radioactive waste management.

With over 400 organizations, including research institutes and a unique fleet of nuclear-powered icebreakers, ROSATOM is Russia’s largest power generation company and a major player in global nuclear technology markets. The corporation also engages in innovative projects, such as wind power and nuclear medicine, and leads the Proryv (Breakthrough) Project, which aims to close the nuclear fuel cycle and enhance clean energy production.

Westinghouse Electric Company LLC

Westinghouse Electric Company LLC. (US) is one of the leading service providers and product suppliers in the nuclear power industry, specializing in nuclear power, plant upgrades, nuclear fuel, new plant, and outage services. Westinghouse Electric Company LLC provides products, solutions, and services including mission-critical nuclear fuel, maintenance services, engineering solutions, instrumentation and control systems, and manufactured components. It also offers services related to the decontamination, decommissioning, and remediation of power plant sites as well as technologies, equipment, and engineering and design services for new power plants.

Westinghouse Electric Company LLC offers small modular reactors such as integral pressurized water reactors and microreactors. The company played a pivotal role in the nuclear era by building the world’s first commercial pressurized water reactor in Shippingport, Pennsylvania.

Electrolyzers Market will Grow Rapidly by 2030

 The global Electrolyzers Market Share is expected to grow from estimated USD 3.75 billion in 2024 to USD 78.01 billion by 2030, at a CAGR of 65.9% during the forecast period. This growth mainly comes in response to supportive government initiatives that encourage renewable energy technologies as well as advancements in the electrolysis process. Electrolyzers play a crucial role in the production of hydrogen since they split water into hydrogen and oxygen using electricity that can be generated from renewable sources, such as solar and wind energies. As nations accelerate efforts to decarbonize and reduce the reliance on fossil fuels, electrolyzers are increasingly important in diverse applications involving power generation, transportation, or industrial processes. The recent interest in hydrogen fuel cells and green ammonia production further underlines the potential of the electrolyser market as the basis of global energy transition towards sustainable solutions.

Regional Analysis

Europe is the leading region for the Electrolyzer Market primarily due to its strengthened commitment to decarbonization and a more developed framework for adopting renewable energy. Most European countries have launched ambitious hydrogen strategies and policies, such as the European Green Deal and the "Fit for 55" package, which give priority to the production of green hydrogen to reach net-zero emission goals. The region sees considerable investment in renewable energy infrastructure, especially solar and wind power with seamless integration with technologies such as electrolyzers. Furthermore, Europe has an impressive industrial base and proactive collaborations between governments, private enterprises, and research institutions: a confluence that helps establish innovation and the scaling of electrolyzer production. This strategic focus puts Europe at the helm of the race toward a global hydrogen economy.

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Anion exchange membrane, by Technology

Anion exchange membrane (AEM) is now becoming the most rapidly growing technology in the Electrolyzers Market, owing to its unique combination of cost-effectiveness and performance efficiency. While PEM systems are rather expensively made using precious metal catalysts, non-precious metal catalysts are used in AEM, making them much cheaper. Besides this, the possibility of low-energy operation and compatibility with renewable sources makes it even more attractive during transition into green hydrogen. Membrane technology and scalability in the manufacturing processes further increase the efficiency of and robustness of AEM-based electrolyzers faster and make them favourites for those industries that look for low-cost, environmentally friendly hydrogen production.

Key Players

Some of the major players in the Electrolyzers Market as Siemens Energy (Germany), Nel ASA (Norway), thyssenkrupp nucera (Germany), John Cockerill (Belgium), Plug Power Inc. (US),  among others. The major strategies adopted by these players include new product launches, acquisitions, joint ventures, and expansions.

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Thyssenkrupp nucera

Thyssenkrupp nucera is a cleantech company and a leading provider of hydrogen and chlorine technologies. thyssenkrupp nucera, formerly known as Uhde Chlorine Engineers, was established as a joint venture between Industrie De Nora and thyssenkrupp AG. The company primarily deals in the supply of clean energy with green hydrogen at an industrial scale. thyssenkrupp nucera offers chlor-alkali and alkaline water electrolysis procedures for producing sustainable aviation fuels, hydrogen, chlorine, and others. The net hydrogen produced through its electrolyzers can cater to a very wide scope of applications: ranging from energy-notably, mobility-and various other industries. In addition, the company provides solutions for integrating grid-scale renewable energy and industrial-scale hydrogen use. thyssenkrupp nucera is also engaged in engineering, procurement, and construction of electrochemical plants. In 2022, the company signed an engineering and supply contract with Shell plc to set up a 200 MW green hydrogen facility in Rotterdam, Netherlands. The company enjoys a good presence in Japan and Germany.

John Cockerill

John Cockerill, formerly known as CMI Group, designs, integrates, upgrades, and maintains equipment across energy, defense, steelmaking, environmental, and general industrial sectors.  It also serves energy, environment, transport, hydrogen, solar, cooling, wind, nuclear, innovation, mobility, maintenance, water treatment, air & gas treatment, and waste to energy sector. The company has a solid presence in metals, heat treatment, surface treatment, and industrial project services, providing a wide array of solutions designed to meet diverse industrial needs. Through its hydrogen division, the company supplies alkaline electrolyzers for various applications, including energy, industry, and mobility.for various applications, such as energy, industrial, and mobility. The company also offers electrolyzers through its joint venture Cockerill Jingli Hydrogen (CJH). John Cockerill provides the most robust electrolyzers in the market, with the capacity to generate up to 1,300 Nm³ per hour, equating to 6.5 MW.The company has a presence in 24 countries across 5 continents. In December 2023, John Cockerill has entered the North American market with the groundbreaking of its first alkaline electrolyzer gigafactory in Baytown, Texas.

Nel ASA

Nel ASA is a hydrogen company specializing in electrolysers, hydrogen generation plants, hydrogen refueling stations, distributed energy systems, and energy storage. It designs solutions to produce and distribute hydrogen generated from renewable energy sources. The company also focuses on providing turnkey solutions for hydrogen energy storage. Various industries and energy & gas companies are major end users of its hydrogen technology. Nel ASA operates through two business segments: FUELING and Electrolyzer. It serves Electrolyzer Market through its Electrolyzer business segment. Under this, the company offers hydrogen production equipment and plants based on electrolyzer technology and power-to-gas systems. Nel ASA specializes in alkaline and proton exchange membrane (PEM) electrolyzers. It produces green hydrogen by harnessing energy from renewable sources such as solar and wind. The electrolyzers offered by the company have applications in various industries, such as chemicals, refining, metals, electronics, and others. The company has operations worldwide and a presence in approximately 20 countries. It has manufacturing facilities in Notodden, Norway; Wallingford, UK; and Connecticut, US. Its production facilities in Norway and Connecticut are utilized to manufacture electrolyzers. Since its establishment, the company has delivered approximately 2,700 proton exchange membrane (PEM) electrolyzers and 800 alkaline electrolyzers in more than 80 countries worldwide.

Global Engines & Gensets Industry Outlook

The global Engines and Gensets Outlook is expected to grow from estimated USD 401.95 billion in 2024 to USD 417.31 billion by 2025, at a YoY increase of 3.8%. The engines and gensets outlook highlights that both industries are experiencing significant growth driven by the rising demand for fuel-efficient, low-emission engines and reliable power solutions. Engine, which convert fuel into mechanical energy, play a crucial role in industries such as automotive, marine, aerospace, and power generation, thanks to their durability, scalability, and ability to handle high loads in both small- and large-scale applications. Similarly, gensets are becoming indispensable for ensuring a steady power supply in critical sectors like healthcare, telecommunications, and IT, especially in the face of frequent power outages and frail grid infrastructure. The rapid pace of industrialization and urbanization, including infrastructure projects like buildings, roads, and airports, has further accelerated demand. Moreover, the shift towards renewable energy and hybrid gensets highlights the market’s inclination toward cleaner, more efficient solutions, making engines and gensets pivotal in addressing global energy challenges.

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According to the Engines and Gensets Outlook, gasoline-powered engines, by fuel type, are projected to become the second-largest segment in the engine market during the forecast period.

Gasoline is expected to account for the second largest market share by fuel type during the forecast period. According to the U.S. Energy Information Administration (EIA), gasoline consumption in the transportation sector accounted for more than 90 % which fueled more than 270 million vehicles. Continuous advancements in gasoline engine technology, such as turbocharging, direct fuel injection, and variable valve timing, have significantly improved the fuel efficiency of gasoline engines. Gasoline engines are also widely used in light commercial vehicles (LCVs), motorcycles, and recreational vehicles. Gasoline engines account for a substantial portion of the overall engine market and help sustain gasoline’s dominant position.

Stand By segment by Application, is expected to be the fastest Generator Market during the forecast period.

Stand By application is anticipated to account for the largest market share during the given forecast period. The demand is viewed especially regarding the availability of backup power in sectors that are most vulnerable, including healthcare and data center, and also in the commercial segment. Power supply fluctuations especially ever registered power supply downturns as well as a increasing demand for uninterrupted power both in the developed as well as the emergent markets have been resulting to this growth due to the ability of businesses to minimize power outage time and aim at having uninterrupted power.

Commercial segment by end-user, is expected to be the fastest Generator Market during forecast period

The commercial part of end users is growing fast for several reasons: assiulation of various industries, increased pressure on efficient and cost-effective business processes, and the subscription-based emerging models. Companies remain committed to acquiring applications and solutions that optimize operational efficiency and interact with consumers. Furthermore, the increasing popularity of the approach based on data analysis is closely connected with the notion of marketing that helps firms adapt their offerings to the customers and enhance their loyalty.

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Power Generation segment by end-user, is expected to be the fastest Engines Market during forecast period

The market for engines by end user is anticipated to be the fastest growing segment in the market during the forecast period owing to the rising demand for reliable and efficient energy sources worldwide. The provision of such backup power solutions is what drives this growth, and it is primarily in areas that experience frequent outages. Furthermore, during the increasing integration of renewable energy, flexible engine systems are needed to accommodate variable power supply. Investments in power generation engines are supported by government initiatives to create energy independence and sustainability. The performance and efficiency of engines used in this segment become better every day, and adoption follows. Asia Pacific is expected to be the fastest region in the Engines Market during the forecast period.

The demand for the Engines Market is expected to increase in the Asia pacific region which is primarily due to the rapid industrialization and urbanization, thus resulting in high demand for the energy as well as transportation solutions. Several emerging economies live in this region, such as China and India, where the infrastructure development and the auto production are booming fast. Government initiatives to clean up the environment are also creating deeper pockets for innovative and investment in advanced engine technologies. Having a rising population and urban Centers,5 increases the demand for efficient power generation systems and transportation systems. Additionally, the strong manufacturing sector of the Asia Pacific region is likely to help its production and adoption of various engine types to provide the market with gains.

The report profiles key players such as Caterpillar (US), Cummins Inc. (US), General Electric Company (US), RTX (US), General Motors (US), Rolls-Royce Plc (UK), Mitsubishi Heavy Industries, Ltd. (Japan), Honeywell International Inc. (US), AB Volvo (Sweden), Scania (Sweden).

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Asia Pacific is expected to be the fastest region in the Generator Market during the forecast period

The major end users sectors such as residential, commercial and industrial sectors including utilities/power generation, oil & gas, chemical & petrochemical, mining & metal, manufacturing, marine construction and others to boost the Generator Market in Asia Pacific region. The microenvironment of the region is expanding thanks to the development of large-scale giants comprising China, India, South Korea, Japan, Indonesia as well as Australia. The Asia-Pacific region has rapidly become one of the world’s hotspots in manufacturing activities and growth, touching nearly every industry.

The report profiles key players such Caterpillar (US), Cummins Inc. (US), Rolls-Royce Holdings (UK), Generac (US), Mitsubishi Heavy Industries (Japan), MAN Energy Solutions (Germany) and Briggs & Stratton (US).