Bright Future for Hydrogen Automotive TIC Industry | CAGR 11.8%

 The global Hydrogen Automotive TIC Market is projected to grow from estimated USD 18.3 million in 2024 to USD 35.8 million by 2030, at a CAGR of 11.8% during the forecast period. The market is driven by the increasing commercialization of hydrogen technologies, growing focus on lifecycle risk assessment, and the emergence of hydrogen as a key energy carrier for future energy systems. The shift toward decentralized energy solutions and integrating hydrogen with renewable energy sources is prompting the need for robust certification and compliance services. Additionally, expanding international collaborations, growing investor interest, and developing hydrogen-powered industrial clusters boost demand for reliable testing, inspection, and certification to ensure the safety, efficiency, and long-term viability of hydrogen applications.

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Testing, by service

The testing segment is expected to witness the highest CAGR in the Hydrogen Automotive Testing, Inspection, and Certification (TIC) Market due to the increasing need to validate the performance, safety, and reliability of hydrogen components and systems. With the growing deployment of hydrogen in mobility, energy, and industrial applications, rigorous testing is essential for high-pressure storage, fuel cells, pipelines, and refueling infrastructure. Advancements in hydrogen technology, evolving regulatory frameworks, and heightened safety concerns are further driving demand for specialized testing services. Additionally, manufacturers seek third-party validation to ensure global compliance and market acceptance of hydrogen solutions.

Light commercial vehicles, by vehicle type

Light commercial vehicles (LCVs) are expected to grow at the highest CAGR in the Hydrogen Automotive TIC Market due to their rising adoption in last-mile delivery, urban logistics, and fleet operations seeking zero-emission alternatives. Hydrogen-powered LCVs offer fast refueling and extended range, making them ideal for high-utilization transport needs. Government incentives, stricter emission norms, and corporate sustainability goals accelerate the shift toward hydrogen LCVs. This surge drives demand for TIC services to ensure vehicle safety, component durability, and regulatory compliance, supporting the segment’s rapid growth in the coming years.

Regional Analysis

Europe is projected to be the fastest-growing region in the hydrogen automotive TIC market share, driven by strong regulatory support, ambitious decarbonization goals, and substantial investments in hydrogen mobility. The European Union’s Green Deal and Hydrogen Strategy have accelerated the development of fuel cell vehicles and refueling infrastructure. Countries like Germany, France, and the Netherlands lead large-scale pilot programs and public-private collaborations. Additionally, the presence of major automotive OEMs and stringent safety standards is boosting the need for TIC services to ensure reliability, compliance, and efficiency across the hydrogen vehicle ecosystem.

Key Players

Some of the major players in the Hydrogen Automotive Testing, Inspection, and Certification (TIC) Market are TÜV SÜD (Germany), UL LLC (US), Applus+ (Spain), TÜV Rheinland (Germany), Kiwa (Netherlands), Intertek Group plc (UK), DEKRA IN (Germany), Société Générale de Surveillance (SGS) SA (Switzerland), Southwest Research Institute (SwRI) (US), and Apave (France). The major strategies these players adopt include acquisitions, sales contracts, product launches, agreements, alliances, partnerships, and expansions.

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TÜV SÜD 

TÜV SÜD is the trusted partner of choice for safety, security, and sustainability solutions. TÜV SÜD focuses on managing technological risks and enabling progress, emphasizing sustainability and digitalization. Its services range from testing and certification to technical advisory, serving various industries to ensure safety and regulatory compliance. TÜV SÜD has a presence in Europe (comprises the home market of Germany as well as Western Europe and Central & Eastern Europe), Americas (covers both American continents, from Canada to the southern tip of South America), and Asia (combines all the countries of the Asia Pacific and South Asian area as well as the Middle East & Africa).

UL LLC 

UL LLC is a global safety science leader that provides independent TIC services and related software and advisory (“S&A”) offerings to customers worldwide. The company serves its customers through two complementary businesses: TIC and S&A. Its TIC business comprises two segments, Industrial and Consumer, which provide comprehensive TIC services to customers across a broad array of end markets.

Its S&A business is a global provider of software, data, and advisory solutions, enabling its customers to manage complex regulatory requirements, deliver supply chain transparency, and operationalize sustainability. In addition,  UL LLC has a presence in the US, China, Asia Pacific, Europe, the Middle East & Africa, and Other Americas.

Applus+ 

Applus+ provides testing, consulting, inspection, and certification services. The company offers quality control and accreditation services, project management, supplier and facility inspection, asset certification, and integrity services for the energy and industry sectors. It offers automotive inspection, vehicle condition, emission, engineering and registration inspection, homologation and product certification, structural, materials, fire and environmental testing solutions. Also, under its automotive business, it operates Applus+ IDIADA, which offers a wide range of services focused on the design, vehicle development, and testing for the automotive segment.

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AC Motors Market Likely to Boost Future Growth by 2029

The global AC Motors Market is projected to grow from estimated USD 4.60 billion in 2024 to USD 6.60 billion by 2029, at a CAGR of 7.5% during the forecast period. Industrial growth, rapid urbanization, and increased usage in HVAC systems, water treatment, and manufacturing activities are driving the demand for AC motors. The industries located in China, India, and Japan require AC motors for efficient operation, power pumps, fans, and compressors.

The 4-pole AC motor is the largest part of the AC motor market because it is versatile, energy-efficient, and has a lot of applications in various types of industries such as HVAC, pumps, and compressors. The motors work at constant speeds (1500 RPM at 50 Hz or 1800 RPM at 60 Hz) and have constant operations. Their balance of torque and speed also caters for heavy-duty and precision work, making them widely used in industries.

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This segment is largely the largest consumer of 500–900 kW-rated power due to its immense applications in heavy industries, like power generation, mining, and oil and gas. Such motors perfectly fit the high-power requirement of heavy operations while remaining highly efficient for demanding operations. Further, the trend in increasing application of automation and energy efficiency in processes of industry creates the need for these motors in the mentioned power range. They are a popular option in many industries due to their adaptability and dependability in managing demanding applications, which greatly contributes to their market domination.

The reason for the fast growth of the AC motors market share is the fast industrialization and urbanization within the Asia Pacific region, especially within the developing countries of China and India. The rising manufacturing sector, changing infrastructure, and the ever-increasing trend of employing energy-efficient technology are a few reasons why the need for AC motors is arising. Increasing usage of electric automobiles and HVAC systems is yet another reason contributing to its growth. The trend of AC motors in the region is further boosted by favorable government policies toward renewable energy projects and industrial automation.

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Some of the major players in the AC Motors Industry are ABB (Switzerland), Siemens (Germany), GE Vernova (US), WEG (Brazil) and NIDEC (Japan).

ABB

ABB is a leading power and automation technology company offering a wide range of products, services, and systems, namely, transformers, distribution automation products, high-voltage products, power transmission systems, grid integration systems, and others. The company has over 130 years of experience with motors and generators, and more than 40 years of expertise with drives in manufacturing, servicing and optimizing across a wide range of industries. The company has operations spread across more than 100 countries across 3 regions: Europe, the Americas and Asia, Middle East and Africa. ABB has 476 offices in 85 countries around the world.  ABB provides with general purpose to highly customized designs, synchronous motors and high voltage induction motors provide high efficiency, reliability and availability across all major industries, such as power generation, marine, oil and gas, mining, and data centers; and applications.

General Electric 

General Electric Company is a high-tech industrial company that operates worldwide through three segments: Aerospace, Renewable Energy, and Power. In April 2024, General Electric Company completed its transition of splitting into three separate companies with GE Vernova, GE Aerospace, and GE Healthcare all trading under separate stock tickers.

GE operates through four business segments: aerospace, renewable energy, power, and corporate. The power segment provides with AC motors. Along with motors, it provides with generators, automation and control equipment and drives for energy intensive industries such as marine, oil and gas, mining, rail, metals and test systems. General Electric Company operates in over 160 countries. Manufacturing and service operations are carried out at 59 manufacturing plants located in 24 states in the United States and Puerto Rico and at 102 manufacturing plants located in 25 other countries. Manufacturing facilities in Alabama, South Carolina and Tennessee, as well as R&D, sales, distribution and support operations in 46 states.

Brushless DC Motor Market: Everything You Need to Know

The global Brushless DC Motor Market Size is expected to reach USD 17.6 billion by 2028 from USD 12.1 billion in 2023 at a CAGR of 7.9% during the 2023-2028 period according to a new report by MarketsandMarkets™. Brushless DC motors are synchronous electric motors that are driven by direct current (DC). They are also known as electronically commutated motors (EC motors). These motors are highly efficient in producing a large amount of torque over broad speed ranges. In brushless DC motors, permanent magnets rotate around fixed armatures, thereby overcoming the problem of connecting current to armatures. Brushless DC motors are used in various applications owing to their compactness, lightweight, and low maintenance requirements.

 

The increasing adoption of Brushless DC motors is driven by their precise speed control, low maintenance requirements, and high efficiency. Brushless DC motors offer enhanced reliability, reduced electromagnetic interference, and compact designs, making them essential in applications where these attributes are critical, such as in medical devices, aerospace, and automation equipment.

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By Type Segmentation

 

Based on type, the Brushless DC Motor Market has been segmented into inner rotor and outer rotor. Inner rotor brushless DC motor are in high demand across a wide range of sectors due to its compact design, higher power density, and superior efficiency. Inner rotor motors offer faster response times and better heat dissipation, making them ideal for applications where space and weight are critical factors. Additionally, the inner rotor design allows for a direct connection to the load, enhancing overall system efficiency and performance, which contributes to its dominant market share.

 

By End Use Application Segmentation

 

This report segments the Brushless DC Motor Market based on end user into consumer electronics, automotive, manufacturing, medical devices, and others. Others include HVAC, agricultural, solar pumps, and aerospace & defence applications. The consumer electronics segment is expected to be the second fastest-growing segment during the forecast period due to the increasing demand for energy-efficient and compact solutions in devices like smartphones, laptops, and household appliances. Brushless DC motors offer precise control, longer lifespan, and reduced noise, making them well-suited for applications in consumer electronics. As technology evolves and consumers prioritize high-performance and energy-efficient gadgets, the demand for brushless DC motors in this segment continues to surge, contributing to its rapid growth.

 

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Regional Analysis

 

North America is expected to be the second-largest Brushless DC Motor Market during the forecast period. The North America region has been subdivided into three key countries: US, Canada and Mexico. The regio n's emphasis on automation in industries, such as manufacturing and healthcare, is driving the demand for efficient and reliable brushless DC motors. Additionally, the rising awareness of environmental sustainability has fueled the growth of electric vehicles, further boosting the demand for these motors. Favorable government initiatives and investments in renewable energy projects are also contributing to the region's prominence in the Brushless DC Motor Market.

 

Key Players

 

Some of the major players in the Brushless DC Motor Market are Ametek Inc. (US), Allied Motion, Inc. (US), NIDEC Corporation (Japan), MinebeaMitsumi Inc. (Japan), and Johnson Electric Holdings Limited (China). 

Engines Market Size will Escalate Rapidly in the Near Future

The global Engines Market is anticipated to grow from estimated USD 377.83 billion in 2024 to USD 477.89 billion by 2029, at a CAGR of 4.8% during the forecast period. 

The major factors owing to the growth of Engines Market are rising demand for fuel efficient and low emission engines. Engines are machines used in converting fuels into mechanical energy. This helps in major industries such as automotive, marine, aerospace, and power generation. The Engines Market has grown significantly due to increased demand for efficient energy solutions across industries. Engines are widely used in transportation vehicles, heavy machinery, ships, and backup power systems, providing a reliable source of power. The durability, scalability and the ability of engines to handle high loads make them essential for small as well as large scale applications.

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Gasoline by Fuel type, is expected to be the second largest Engines 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.

 

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.

 

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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, 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.

 

Key Players

 

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).

The Ultimate Guide to Understanding Energy Efficient Motor Market

The global Energy Efficient Motor Market will grow to USD 59.3 Billion by 2028 from USD 41.7 Billion in 2023, at a CAGR of 7.3% during 2023-2028. An energy efficient motor is a type of electric motor that is designed to consume less electrical energy while providing the same level of output as a standard motor. Energy-efficient motors help achieve significant energy savings, reduce greenhouse gas emissions, and lower operating costs due to the longer lifespan of these motors. The lower life cycle costs over traditional motors, government initiatives encouraging the adoption of energy efficient motors, and increasing adoption of energy-efficient motors in the industrial sector are a few of the major drivers for the energy efficient motor market growth.

 

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In the industrial sector, energy efficient motor are used in a variety of applications, such as pumps, compressors, fans, conveyors, and processing equipment for achieving improved energy efficiency, lower operating costs, reduced downtime, enhanced performance, and increased system reliability. Many companies have investing in energy efficient technologies to achieve their targets to minimize their greenhouse gas emissions. This is anticipated to propel the demand for energy efficient motors in the industrial end user segment.

Energy-efficient electric motors are used in heating, ventilation, and air conditioning (HVAC) solutions, especially in commercial buildings, especially for maintaining good indoor air quality and providing thermal comfort. HVAC systems are based on the laws of thermodynamics, and principles of fluid mechanics and heat transfer. The most commonly used motors in HVAC applications are induction motors; three-phase for commercial/industrial premises, and single-phase for certain smaller installations. The growth of the HVAC market is propelled by rapid industrialization and urbanization, which has enhanced the need to maintain air quality in indoor spaces like offices and manufacturing units, and growing demand for energy-efficient devices.

 

North America region is expected to hold the second largest and fastest-growing energy efficient motor market share. The use of energy efficient motors in the region is increasing rapidly due to growing investments in major verticals such as industrial, commercial, and transportation. Countries in North America have been focusing on energy efficiency through programs, partnerships, and initiatives. For instance, the Industrial Efficiency and Decarbonization Office (IEDO) aims to improve the energy and material efficiency, productivity, and competitiveness of manufacturers across the industrial sector. Asia Pacific accounted for largest energy efficient motor market share.

 

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Key Market Players:

 

Some of the major players in the Energy Efficient Motor Market are Regal Rexnord Corporation (US), ABB (Switzerland), Siemens (Germany), Wolong Electric Group Co., Ltd (China), and Nidec Corporation (Japan).

 

Regal Rexnord

 

Regal Rexnord Corporation is a company that provides energy efficient motors, with efficiency levels ranging from IE1 to IE5 for a wide range of sectors, such as industrial, residential, commercial, and automotive. In recent years, the company has been focusing on expanding its portfolio of energy-efficient motors. The company has been investing in research and development to design and manufacture high-performance motors that meet the energy efficiency standards set by various regulatory bodies around across the world.

 

ABB

 

ABB is a company that provides a range of International Electrotechnical Commission (IEC) standard motors that are designed to meet the high-performance and efficiency requirements of a wide range of applications. ABB invests heavily in research and development in a bid to continuously improve and innovate its energy-efficient motion control offerings to meet the changing needs of its customers. Its latest launch, M3BP motors, are a series of premium efficiency motors for use in the food and beverage, pulp and paper, and water and wastewater industries.

Battery Monitoring System Market to See Massive Growth in Near Future

The global Battery Monitoring System Market is expected to grow from an estimated value of USD 2.37 Billion in 2017 to USD 5.47 Billion by 2022, at a CAGR of 18.23%, from 2017 to 2022. North America is estimated to be the largest market for battery monitoring systems, followed by Asia Pacific and Europe. The global market is set to witness significant growth due to the increasing demand for electric vehicles and the need to prevent unplanned power outages. The growth of the battery monitoring system market is mainly driven by a booming demand for global connectivity, accompanied by increasing demand for data centers, increasing investments in renewable energy, energy storage, and the infrastructure industry to accommodate the rising demand for power globally.

Based on battery type, the battery monitoring system has been segmented into lithium-ion based, lead-acid, and others. The lithium-ion based segment is expected to be the largest segment of battery monitoring system market from 2017 to 2022. The key applications of lithium-ion battery monitoring systems are electric and hybrid electric vehicles, power tools, and power supply backup. The increasing deployment of lithium-ion batteries in electric vehicles, power tools, and battery backupa pplications has resulted in the largest share of the lithium-ion batteries segment compared to other battery types.

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Asia Pacific is estimated to be the fastest growing market for battery monitoring systems from 2017 to 2022. The rising population in the region has led to significant increase in demand for connectivity. This has caused the accumulation of more data, subsequently, increasing the region’s investments in data centers. Thus, factors such as rising investments in data centers and the electric vehicle sector are driving the battery monitoring system market in Asia Pacific. China and Japan are estimated to be the largest markets for battery monitoring systems in the region in 2017. Moreover, the battery monitoring system market is also expected to grow significantly in countries such as South Korea and India during the forecast period.

In the telecommunications industry, data centers are the prime users of battery monitoring systems as they heavily rely on UPS systems for reliable backup power. These systems aid in assuring the performance of backup battery power systems and reducing UPS battery maintenance and replacement costs. Moreover, continuous monitoring allows for an all-time knowledge of the state-of-health of batteries. Battery monitoring systems enable UPS backup batteries to consume lesser energy, be protected from failure, and last longer which, ultimately, leads to overall decreased expenditure for the company. All these factors are likely to drive the telecommunications segment of the battery monitoring system market.

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The global Battery Monitoring System Market is dominated by both global and regional players. The key players operating in the market include NDSL (UK), Texas Instruments (US), PowerShield (New Zealand), BatteryDAQ (US), Canara (US), and Eagle Eye (US). The other players in this market include HBL (India), Schneider Electric (France), Curtis (US), Socomec (France), BTECH (US), ABB (Switzerland), and SBS (US).

Growing demand for uninterrupted and reliable power during power outages is estimated to push demand for portable power stations

According to the new market research report "Portable Power Station Market by Power Source (Direct, Hybrid), Technology (Lithium-ion, Sealed lead-acid), Capacity (0–100, 100–200, 200–400, 400–1000, 1000–1500, ≥1500Wh), Sales Channel (Online, Offline), Application, Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Portable Power Station Market size is expected to grow from an estimated USD 358 million in 2021 to USD 494 million by 2026, at a CAGR of 6.7 %. The drivers for this market are the increasing use of smart electronic devices, growing demand for uninterrupted and reliable power, and stringent emission rules across regions such as Asia Pacific, North America, South America, Europe, and Middle East & Africa.

Hybrid power is expected to dominate the Portable Power Station Market.

The market is segmented by power source into hybrid power and direct power. Hybrid power accounted for the larger share of the Portable Power Station Market in 2020. The key advantage of using hybrid power is that it can be used at remote or off-grid locations, where direct power access is limited or non-existent. Solar power charging in hybrid power is predominantly used to charge portable power station equipment for campsites and recreational vehicle activities. Moreover, several major manufacturers are offering both solar charging-enabled portable power stations and portable power stations with direct power charging capability for powering electronic equipment during power outages and grid blackouts.9.-

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Off-grid is expected to be the fastest-growing segment of the Portable Power Station Market.

The off-grid power segment is estimated to account for the largest share in 2021, and this trend is expected to continue during the forecast period. The growth of this application is mainly driven by the increasing number of camping and outdoor recreational activities in regions such as North America, Europe, and Asia Pacific

Lithium-ion technology is projected to have a higher growth rate in the Portable Power Station Market.

The market is segmented by technology type into lithium-ion and sealed lead-acid. The lithium-ion segment is estimated to lead the market and is also expected to register a higher CAGR. The increasing need for high durability, high energy density, and faster charging, and availability of lithium-ion at affordable prices drive the growth of this segment.

North America is expected to be the largest Portable Power Station Market.

North America was the largest Portable Power Station Market in 2020, driven mainly by power outages, increasing use of smart electronic devices, and the growing number of camping and outdoor recreational activities in countries such as the US, Canada, and Mexico. Portable power stations are being increasingly implemented to effectively power smart electronic devices during such events so that people can stay connecte

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To provide an in-depth understanding of the market’s competitive landscape, the report includes the profiles of some of the top manufacturers in the Portable Power Station Market. These players include Goal Zero (US), Jackery (US), Duracell (US), Milwaukee Tool (US), Anker Technology (England), Bluetti (US), EcoFlow (US), and Lion Energy (US).

Trends and Opportunities for the Industrial Gearbox Market

The global Industrial Gearbox Market is expected to grow from an estimated $25.91 billion in 2018 to $31.90 billion by 2023, at a CAGR of 4.25% from 2018 to 2023.  Increasing requirement for efficient energy gearbox and clean energy sources are driving the growth of the industrial gearbox market. The increasing automation in manufacturing technology is facilitating the growth of the industrial gearbox market. In addition, increasing investments in renewable power generation, with a skew towards wind power, is driving the industrial gearbox market.

The wind power segment is expected to grow at a high rate in the industrial gearbox market

The wind power segment is expected to grow at the fastest rate in the industrial gearbox market. The growth in the wind power segment is driven by the increasing investment in wind power installations in Asia Pacific, North America, and Europe. The Global Wind Energy Council has projected installation of more than 300 GW of wind power during the forecast period. A large number of installations are projected to be in Asia Pacific, North America and European regions. The growing installation of wind turbines will drive the growth of industrial gearboxes.

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Industrial Gearbox market has been segmented on the basis of end-user industries:

 

·         Wind Power

·         Cement & Aggregates

·         Chemical, Rubber & Plastics

·         Construction

·         Food & Beverage

·         Marine

·         Material Handling

·         Metals & Mining

·         Power Generation

·         Recreational Vehicle

·         Transportation Industry

·         Agriculture

·         Automotive

·         Others (Aerospace, Defence, Semiconductor, Robotics, Textile, Healthcare)

Asia Pacific is expected to be the largest industrial gearbox market

Asia Pacific region is estimated to lead the Industrial Gearbox market in the forecast period. The market in Asia Pacific is expected to hold the largest share and is forecast to grow at the fastest rate during the forecasted period.  The region holds the largest market share globally as the countries such as China and Japan are among the largest manufacturing countries in the world. In addition to this, the projected installation of wind power and the growing automation in the manufacturing industries in the region is driving the growth of the industrial gearbox market in Asia Pacific.

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Some of the top players in the Industrial Gearbox Market include Siemens AG (Germany), Bonfiglioli Italia S.P.A (Italy), Bondioli & Pavesi (Italy), Sew-Eurodrive (Germany), and Dana Brevini (Italy).

Energy Efficient Motor Market May Set New Growth Story

 The global Energy Efficient Motor Market is projected to reach USD 41.6 billion by 2023 from USD 30.3 billion in 2018, at a CAGR of 6.5% between 2018 and 2023. The major factors driving the growth of the energy efficient motor market are energy savings and the subsequent cost over traditional motors, increasing governmental support worldwide towards the adoption of energy efficient motors, rising need to reduce the greenhouse effect, and growing adoption of energy efficient motors in the industrial sector.

Energy efficient motors are used in various application areas in the agriculture industry; these applications include irrigation, ventilation, grain handling, material handling, aeration, and conditioning. Motors are among the largest energy consuming devices on farms. Motors used in the agriculture sector account for 18% of the on-farm energy consumption worldwide. Also, the energy saving solutions are applicable to all segments of the agriculture sector including dairies and livestock producers, nurseries, crop farmers, and food processing companies. This would further propel the growth of the energy efficient motor market

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The energy-efficient electric motor market for the HVAC application projected to grow at the highest Growth Rate.

Energy-efficient electric motors are implemented for heating, ventilation, and air conditioning (HVAC) solutions, especially in commercial buildings. HVAC systems operate based on the laws of thermodynamics, and principles of fluid mechanics and heat transfer. These motors are equipped in electromechanical products, such as pumps, fans, compressors, and refrigerators. The primary objective of HVAC systems is the maintenance of good indoor air quality, providing sufficient ventilation through air filtration, and thermal comfort. The growth of the HVAC application market is driven by government support, increasing industrialization and urbanization, development of advanced solutions, and growing demand for energy-efficient devices.

The industrial vertical accounted for the largest share of the overall energy efficient motor market.

Energy efficient motors are extensively used in various industries, including oil & gas, marine, power & energy, mining, and water & wastewater, to help reduce energy consumption as well as operational costs. Electric motors account for 60–70% of the total electricity consumed in the industrial sector. Hence, manufacturers of electric motors have undertaken efforts to improve the efficiency of motors. Energy consumption is one of the major economic and environmental issues of concern, leading to the growing need for, and an increase in the adoption of energy efficient motors. The demand for energy efficient motors in various industries is increasing to enable a reduction in electricity consumption and lower carbon dioxide (CO2) emissions.

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The Asia Pacific is expected to be the fastest-growing market of energy efficient motor.

The Asia Pacific is projected to be the fastest-growing regions in the energy efficient motor market by 2018, and grow at the highest CAGR during the forecast period. According to the Asian Development Bank (ADB), the share of the region to global energy consumption is expected to increase from 34% in 2010 to 56% by 2035. ADB has undertaken investments worth USD 970 million in energy efficiency projects, which are expected to help the Asia Pacific countries meet their national targets for energy efficiency and the reduction of greenhouse gas emissions by 2020.

Some of the key players in the Energy Efficient Motor Market, such as ABB (Switzerland), Siemens (Germany), WEG (Brazil), GE (US), Schneider Electric (France), Nidec (Japan), Rockwell (US), CG (India), Bosch Rexroth (Germany), and Kirloskar Electric (India).

Geospatial Solutions Market: Integration of Geospatial Technology With Ai and Big Data Analytics Technologies

 

The global Geospatial Solutions Market is projected to reach $502.6 billion by 2024 from an estimated $239.1 billion in 2019, at a CAGR of 13.2% during 2019-2024. This growth can be attributed to factors such as integration of geospatial technology into mainstream technologies, advancements in geospatial solutions with the introduction of artificial intelligence and Big Data analytics, increasing use of location-based services, adoption of automation, cloud, and IoT technologies.

Geospatial software, related platforms, and user interfaces generate a larger share of revenue when compared with the hardware and service segments. This is because of the extensive usage of the former in operations. This can also be attributed by the organizations investing massively in the latest geospatial technologies to improve their operational efficiency.

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North America is estimated to be the largest market in 2019 owing to the growth in the usage of aerial imagery, satellite imagery, LiDAR, radar technologies, and global navigation satellite systems in countries such as the US, Canada, and Mexico.  Since North America is the largest market for geospatial technologies, the slightest of growth of this market in this region will reflect a significant growth globally.

Increasing integration of geospatial technologies into mainline technologies is likely to be a key component driving the market in North America. The developed economies are expected to give more thrust to the geospatial solution market. Globally, the implementation of geospatial technologies has seen a gradual increase over the past few years. This, along with the easy availability of geospatial technology in evolved countries such as the US and Canada, will surely positively boost the market in the region.

Geovisualization emphasizes knowledge construction over knowledge storage or information transmission. For this, geovisualization communicates geospatial information in ways that, when combined with human understanding, allow data exploration and decision-making processes. Thus, this application is of extreme importance in mapping and surveying. With the growth in the usage of geospatial solutions, this application is expected to be extensively used during the forecast period.

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Some of the top players in the Geospatial Solutions Market are HERE (the Netherlands), Esri (US), Hexagon (Sweden), Atkins Plc (UK), Pitney Bowes (US), Topcon (Japan), Digital Globe Inc (Maxar Group) (US), General Electric (US), Harris Corporation (US), Google (US), Bentley (UK), Geospatial Corporation (US), Baidu (China), Telenav (US), TomTom International B.V. (the Netherlands), Apple (US), Oracle (US), Microsoft (US), Amazon (US), IBM (US), SAP (US), China Geo-Engineering Corporation (CGC) (China), RMSI (India), and Orbital Insights (US).

Portable Power Station Market: Advancing lithium-ion technology

According to the new market research published by MarketsandMarkets™, the global Portable Power Station Market size is expected to grow from an estimated USD 330 million in 2020 to USD 474 million by 2025, at a CAGR of 7.5%. The drivers for this market are the increasing use of smart electronic devices, growing demand for uninterrupted and reliable power, and stringent emission rules across regions such as Asia Pacific, North America, South America, Europe, and Middle East & Africa. The market is segmented by operation type, technology type, capacity type, application, and region.

The direct power is expected to lead the Portable Power Station Market.

The market is segmented by operation type into direct power and solar power. Direct power accounted for the larger share of the Portable Power Station Market in 2019. The direct power market is driven by the growing emphasis on less charging time and reduced cost in regions such as North America, Europe, and Asia regions. In addition, direct power-based portable power stations do not cause loss of supply or self-discharge, and they also do not require any additional accessory.

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The lithium-ion is projected to have a higher growth rate in the Portable Power Station Market.

The market is segmented by technology type into lithium-ion and sealed lead acid. The lithium-ion segment is estimated to lead the market and is also expected to register a higher CAGR. The increasing need for high durability, high energy density, and faster charging, and availability of lithium-ion at affordable prices drive the growth of this segment.

North America is expected to dominate the global Portable Power Station Market.

North America was the largest Portable Power Station Market in 2019, driven mainly by power outages, increasing use of smart electronic devices, and growing number of camping and outdoor recreational activities in countries such as the US, Canada, and Mexico. Portable power stations are being increasingly implemented to effectively power smart electronic devices during such events so that people can stay connected.

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Some of the top players in the Portable Power Station Market include Goal Zero (US), Jackery (US), Duracell (US), Milwaukee Tool (US), Anker Technology (England), Indiegogo (US), EcoFlow (US), and Lion Energy (US).

Electric Motor Market: Rising demand for electric vehicles to fuel the growth of electric motors

 According to the new market research report published by MarketsandMarkets™, the Electric Motor Market is expected to grow from an estimated USD 113.3 billion in 2020 to USD 169.1 billion by 2026, at a CAGR of 6.9% from 2020 to 2026. Increased demand for HVAC systems in residential, commercial, and industrial end-users in the Middle East and Asia Pacific regions along with growing use of electric motors across major industries is the driving factor for the growth of this market. Emerging robotics technologies and the demand for electric motors in the robots is likely to create a larger opportunity for Electric Motor Market in near future.

The global automotive industry is transitioning toward electric mobility with significant changes in electric vehicle technology. In Europe, the proactive measures are taken for the decarbonization of society are leading to the increased adoption of electrical vehicles that use electric motors. Advancements in battery technologies have lowered battery costs and improved their charging speed. Increasing government support in the form of tax redemptions and incentives to promote eco-friendly electric vehicles that use electric motors are also acting as opportunities for the growth of the electric motor market. According to IEA, China is expected to account for 50% of the global passenger electrical vehicles by 2025.

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The industrial segment is expected to dominate the Electric Motor Market.

The industrial segment is expected to lead the Electric Motor Market from 2020 to 2026. This sector provides good scope for motor manufacturers, as most industries depend on motorized automation.  The segment includes the utilities, oil & gas, cement & manufacturing, metal and mining, oil & gas, renewables, petrochemicals & chemicals, water & wastewater, and paper & pulp industries, all of which use electric motors for pumps, boilers, compressors, and other applications, at various process stages.

The DC motor segment is expected to be the fastest-growing Electric Motor Market.

The DC motor segment, by type, Electric Motor Market is estimated to grow at the fastest rate during the forecast period. The advantages of DC motors include excellent speed control, easy design, high starting torque, and simple operation. The increasing demand for brushless DC motors in electric vehicles is likely to drive this segment in the Electric Motor Market.

Asia Pacific likely to emerge as the largest Electric Motor Market

In this report, the Electric Motor Market has been analyzed for five regions, namely, North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to be the largest Electric Motor Market during the forecast period. Asia Pacific comprises China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. The ongoing industrialization in India, along with increasing electric vehicle manufacturing in China is expected to create an ample amount of opportunity which is likely to drive the growth of Electric Motor Market in Asia Pacific region.

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Some of the top players in the Electric Motor Market are ABB (Switzerland), Siemens (Germany), Nidec Corporation (Japan), Wolong (China), and WEG (Brazil).The leading players are adopting various strategies to increase their share in the Electric Motor Market.

Battery Monitoring System Market: Rising Demand for Battery Monitoring Systems for Electric Vehicles

The global battery monitoring system market is projected to grow at a CAGR of 18.23%, to reach a market size of USD 5.47 Billion by 2022, from an estimated USD 2.37 Billion in 2017. North America is estimated to be the largest market for battery monitoring systems, followed by Asia Pacific and Europe. The growth of the battery monitoring system market is mainly driven by a booming demand for global connectivity, accompanied by an increasing demand for data centers, increasing investments in renewable energy, energy storage, and the infrastructure industry to accommodate the rising demand for power globally. The increased operational efficiency of batteries and rising demand for electric vehicles are expected to boost the demand for battery monitoring systems.

The battery monitoring system has been segmented based on battery type into lithium-ion based, lead-acid, and others. The others includes nickel-based and flow batteries. The lithium-ion based segment accounts for the largest share of the battery monitoring system market. The key applications of lithium-ion battery monitoring systems are electric and hybrid electric vehicles, power tools, and power supply backup. The increasing deployment of lithium-ion batteries in these applications has resulted in the largest share of the lithium-ion batteries segment compared to other battery types.

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Battery monitoring systems are mainly used for electric vehicles, e-bikes, and automated guided vehicles. Batteries that are integrated in these vehicles are usually of medium or high-power density, requiring the assistance of a battery monitoring system for optimal utilization. With rapid innovations in the automotive industry, the usefulness and significance of battery monitoring systems are also expected to increase.

The North America region is expected to be the Largest Market for Battery Monitoring System

The battery monitoring system market in North America is expected to lead the global market by 2022 and is projected to grow at the second-highest CAGR from 2017 to 2022. Market growth in this region can be attributed to increasing investments in data centers and growing renewable power generation capacities. Countries such as the US and Canada are the key markets for battery monitoring systems in North America.

Asia Pacific: the fastest growing market for battery monitoring systems

The battery monitoring system market in Asia Pacific is expected to grow at the fastest rate due to increasing investments in the data centers sector and growing renewable power generation in the region. The Chinese market is expected to dominate the battery monitoring system market in Asia Pacific. The battery monitoring system market is expected to grow at a high rate in countries such as China, South Korea and those in South-East Asia. An all-round effort by the governments of various countries in the region to reduce greenhouse gases and an emphasis on obtaining power from renewable sources is also likely to drive the battery monitoring system market in the region.

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The Battery Monitoring System Market is dominated by both global and regional players. The key players operating in the market include NDSL (UK), Texas Instruments (US), PowerShield (New Zealand), BatteryDAQ (US), Canara (US), and Eagle Eye (US). The other players in this market include HBL (India), Schneider Electric (France), Curtis (US), Socomec (France), BTECH (US), ABB (Switzerland), and SBS (US).

Electric Motor Sales Market: Business Growth Strategies by Industry Giants ABB, Siemens, General Electric, Nidec Corporation, Denso Corporation, Bosch, Emerson Electric, and WEG.

The global Electric Motor Sales Market is expected to grow from an estimated USD 94.23 Billion in 2016 to USD 127.63 Billion by 2021, at a CAGR of 6.26% from 2016 to 2021. Factors driving the market include growing motorized automation across major industries, increasing motor-driven household appliances, continuously growing agricultural sector, strong automobile production, and transition toward energy-efficient motors.

Electric motors are widely used in all the sectors and the global production of electric motors are drastically increased in recent years due to increase in the utilization of motors for maximum output from the major sectors such as industrial, agriculture, residential, commercial, and transportation.

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The market is classified by type into AC and DC motors. AC motors are the fastest growing segment in the market. With increasing applications in end-user industries such as, transportation, chemicals, and many others, the AC motors segment is expected to dominate the market till 2021.

Asia-Pacific is the leading market for electric motor sales

In this report, the electric motor sales market has been analyzed with respect to the following regions, namely, Asia-Pacific, North America, South America, Europe, and the Middle East & Africa. Asia-Pacific is currently the largest market for electric motors, and it is projected to grow at the highest CAGR during the forecast period. China accounted for the majority share in Asia-Pacific in 2016. In Asia-Pacific, the growth of the market can be attributed to factors such as buoyant growth in the agriculture sectors, massive investments in industrialization, and upgrading and replacing aging infrastructure. These factors are driving the market in this region. The figure given below shows the regional scenario of the market from 2016 to 2021.

Heavy electric motors are majorly used in electric vehicles, elevator & hoists, steel rolling mills, machine tools, and all other heavy industrial activities; however, these are not easily portable. This has proved to be a restraining factor for heavy motors. But this factor can be overcome by improving the standards of transportation of heavy motors which in turn can improve the revenue sales of these electric motors.

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Some of the leading players in the Electric Motor Sales Market include ABB Ltd. (Switzerland), Siemens AG (Germany), Nidec Corporation (Japan), Denso Corporation (Japan), General Electric Company (U.S.), Allied Motion Technologies, Inc. (U.S.), Ametek, Inc. (U.S.), Arc System, Inc. (U.S.), Baldor Electric Company (U.S.), Bosch Group (Germany), Emerson Electric Co. (U.S.), Hitachi Ltd. (Japan), Johnson Electric Holdings Ltd. (Hong Kong), Regal Beloit Corporation (U.S.), Rockwell Automation (U.S.), Toshiba International Corporation (U.S.), and WEG (Brazil).

DC Power Supplies Market: Increasing Demand for Energy-Efficient DC Power Supplies

The global DC power supplies market size is expected to reach USD 454 million by 2024 from an estimated value of USD 361 million in 2019, at a CAGR of 4.7 % during the forecast period. The growing wireless communication & infrastructure and aerospace & defense segment in the countries such as US & Canada and growing demand for industrial automation and consumer electronics sector in countries such as India & Japan is anticipated to drive the demand of the DC power supplies market.

The automotive segment is projected to be the largest segment of DC power supplies market

The automotive sector is predicted to dominate the DC power supplies industry based on its application and is majorly used for testing of electronic components used in the automotive industry such as electric cars, and hybrid & electric vehicles. Power battery testing, fuel cell testing, AC/DC charging station, DC-DC converter testing, on-board chargers & charging interface testing, and high power battery testing are some of the areas wherein automotive electronic testing is done using DC power supplies, which is likely to upsurge the DC power supplies market.

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The AC-DC segment in DC power supplies industry is projected to be the fastest-growing market

DC power supplies are suitable for testing various electronic devices used in end-users such as consumer electronics, medical & healthcare, automotive, wireless communication & infrastructure, and avionics & defense. Growing usage of AC-DC in the various medical and other low output industrial equipment is the driving factor for this market.

North America is projected to dominate the global DC power supplies market

In this report, the DC power supplies market has been analyzed concerning five regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. North America is expected to lead the market during the forecast period. The growing wireless communication & infrastructure and aerospace & defense segment in countries such as the US & Canada are the driving factors for the growth of the DC power supply market in North America.

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The major players in the DC power supplies market are Keysight Technologies (US), TDK Lambda (Japan), Chroma ATE (Taiwan), Good Will Instrument (Taiwan), Rohde & Schwarz (Germany), and B&K Precision (US), Tektronix (US), and MEAN WELL (Taiwan).