Explore our industry themes to learn about crucial trends and strategic options. Although no single vision exists for the way the global power sector will evolve in the future, one truth is clear: the industry sits on the cusp of massive change. This market is also witnessing consolidation and this trend that is expected to continue. The power and utilities industry is expected to lead this transition, as the new plan envisions the industry achieving an even more ambitious target of zero emissions by 2035. A new report released by Black & Veatch examines key issues and trends impacting today’s power industry. Browse over 50,000 other reports on our store. Explore our trends series. In today’s rapidly evolving marketplace environment, key business issues are converging with impacts felt across multiple industry sectors. IoT is helping power companies to remotely monitor and manage their assets. Power Transmission Flat Belts Market Size 2020 Business Strategies, Progression Status, Opportunities, Future Trends, Industry Leading Players Update, Market Share and Global Analysis by … The country has comprehensive incentive programmes, supporting battery utilisation for energy storage. Cybersecurity is receiving the maximum attention from power companies to protect grids from cyberattacks. Major retailers such as Tesco and Walmart also signed a number of PPAs in 2019. The Outdoor Power Equipment Market report is an in-depth study of various trends… Black & Veatch’s new 2020 Strategic Directions: Electric Report details market drivers and provides insights into how the industry can address challenges.. Such initiatives include support for advanced … Please enable JavaScript to view the site. The adoption of electric vehicles has been increasingly growing in the last few years and is set to continue. Site-within-site Navigation. Vestas to acquire 25take in Copenhagen Infrastructure Partners, Acciona begins energising turbines at US wind facility, Broad Reach acquires solar and wind projects from Invenergy in US, Vestas to acquire 25 href="https://www.power-technology.com/./news/" class="c-nav-featured__menu-item-link"take in Copenhagen Infrastructure Partners, Carbon inequality: redressing the balance for universal sustainable energy access, Q&A: wildfires, blackouts and restabilising California’s electric grid with LF Energy, Renewable power financing: success stories from 2020, GlobalData Epidemiologist Report: Global Covid cases pass 75 million – WHO scientists to visit Wuhan, International update: Global Covid infections pass 75 million – Putin signals caution over Sputnik vaccine, Vestas to acquire 25 href="#" class="c-nav-featured__menu-item-link"take in Copenhagen Infrastructure Partners, Enel Green Power to construct $1.1bn worth of renewables in Brazil, Hyllie: how Swedish prosumption could set a precedent for smart cities, Rethink Energy report: the US could “go into overdrive on solar”, IEA statistic shows electricity production recovery over OECD countries, Five things we learnt from the IAEA Scientific Forum in Vienna, California Energy Commission picks vanadium instead of lithium batteries for major storage project, China’s president pledges carbon neutrality by 2060, Vestas to acquire 25% stake in Copenhagen Infrastructure Partners, India approves $910m for NERPSIP power infrastructure works. The COVID-19 global pandemic has radically upended the issues and trends that shape the current and future tourism and hospitality industry. It makes in-depth analysis of the impact of demographic, economic and social influences affecting the market globally. According to Future Market Insight’s cutting-edge analysis, power tools will witness high … Future trends: definitions. The study is based on a survey of more than 600 leaders in the industry … Virtual reality is getting famous … Explore five P&U trends as we enter a new landscape. The future market will deliver lower costs for some, but higher prices and more power disruptions for others. How will the energy industry converge as players seek to serve a growing clean power industry in an economy moving toward electrification? Related Report The Future of Windpower – Scenarios to 2030 is a comprehensive study of the key trends and drivers affecting the global windpower sector. Throughout 2018, the threat of federal action to bail out … An emerging technology trends survey conducted by GlobalData reveals that cybersecurity, big data, cloud computing, robotics and the Internet of Things (IoT) are being seen as the top five technologies that will have the maximum impact on the sector over the next three years. This … Utilities such as Duke Energy, EDF, Engie and AusNet have also been involved in the microgrid project development. Energy storage installation among end-users (renewable energy generators, grid operators and distributed generation) is expected to witness larger growth due to smart grid development. These standards will evolve with future industry input. Several utility companies, as well as their host municipalities and business customers, announced plans to fully decarbonize over the next three decades—even in the aftermath of pandemic-driven shocks to electricity load. Explore our trends series. Military trends in the near future. What are the key trends, challenges, and opportunities that may affect your business and influence your strategy? The power tools market is also witnessing a shift from corded tools to cordless tools. Hawaii in the US has become the first state to initiate microgrid tariffs, which are fees to be paid for microgrid services. And it's not just the size-to-power ratio that has been changing — the sources of energy have been dramatically changing too. Increase in organization complexity. Utilities buying into storage. 2021 power and utilities industry outlook, Telecommunications, Media & Entertainment, Midyear 2020 power and utilities industry outlook, 2020 power and utilities industry outlook, 2019 power and utilities industry outlook, COVID-19 impact on the power, utilities, and renewables industry. Discover Deloitte and learn more about our people and culture. Increased focus on great power competition Within the energy industry, the oil majors’ diversification strategies will likely increase their investment across the power industry’s value chain. This box/component contains JavaScript that is needed on this page. Building confidence in battery performance Richard S. Barnes, region president North America at DNV GL – Energy, said: “Battery investors, EPCs, and developers need confidence that their battery choice is right for their application, the warranties are sound, performance is predictable, and systems are safe. Therefore, it is important to evaluate current status of nuclear-power industry and to make projections on near (5–10 yr) and far away (10–25 yr and beyond) future trends. This report, by Grand View Research, takes a closer look at the power generation industry, providing a holistic perspective on market dynamics, trends, supply, and demand. There is only a small window of opportunity to prevent this from happening and set our course for the future: ... To date, these kinds of applications have not been fully exploited in the power industry. To begin, here is a primer in how to pick out future trends. Grid Parity. Many industry experts have termed 5G as the future of communication and to a great extent, it is true. Industry standards and long-term visioning will lag several years behind the … Biden’s campaign platform calls for national net-zero greenhouse gas emissions by 2050 and a $2 trillion investment to help equitably achieve this target. After the global financial crisis, global M&A activity accelerated, … Future Trends in the Semiconductor Industry Artificial Intelligence The increasing demand for AI-based applications are creating new growth opportunities for semiconductor manufacturing companies. The study is based on a survey of more than 600 leaders in the industry and has found that: Global Wind Power Gearbox Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 published by MarketsandResearch.biz, the fastest growing market research company provides a holistic scope of the market which includes future supply and demand scenarios, changing market trends, high growth opportunities, and in-depth analysis of the future market prospects. Latest report from The global power tools market size was valued at USD 32.3 billion in 2019 and is expected to grow at a CAGR of 4% from 2019 to 2025. This report provides a detailed view of the Automotive Electronic Power Steering industry based on market size, Automotive Electronic Power Steering growth, development plans, and opportunities. Utilities on buying storage. 50 year trend, which will continue for at least another 50 years, because of new discoveries, innovation, economies of scale and human need. In the coming year, the evolving energy industry landscape is expected to be characterized by five trends: consolidation, new economies, new battery business models, increased scale, and heightened disaster readiness. All these companies are looking to establish a strategic foothold in a new energy landscape characterized by the following five trends. Market Study Report LLC adds a new report on Silicon Controlled Rectifier Power Controller Market Share for 2020-2026. Issue Section: Technology Review One of the most important trends this year in the electrical industry is energy storage. Press Release Distributed Power Generation Market Size, Share 2020 Business Revenue, Future Growth, Trends Plans, Top Key Players, Business Opportunities, Industry Share, Global Size … One of the reasons executives may be unfamiliar with future trends is that they may never have been trained to identify them as special data points. Automotive Power Seat Market Size, Industry Share, Emerging Technologies, Future Trends, Competitive Analysis and Segments Poised for Strong Growth in Future 2026 Posted on May 22 2020 5:30 AM "Automotive Power Seat Market Global, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. The US introduced multiple bills and policies related to energy storage. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Technology companies may also do the same as they enable vehicles, homes, and businesses to serve as distributed energy resources (DER) in addition to consuming them. Explore the latest strategic trends, research and analysis. The power sector is going through significant changes. Browse over 50,000 other reports on our store. A new report released by Black & Veatch examines key issues and trends impacting today’s power industry. Regulators believe it’s a necessary component to improve the future of the grid , and it’s quickly growing to be a favorite resource because it can help consumers not only reduce wasteful energy consumption, but it can also help them cut on energy costs. In 2019, a number of microgrid projects were announced by companies across the world. For example, Hitachi Koki registered incremental sales of 5% in its power tools sales, owing to the introduction of cordless tools. Using IoT, utilities can also conduct predictive asset maintenance. The pace and impact of change in the utilities industry is unrelenting. International Energy Agency (IEA) data show that the global electric vehicle fleet reached over 5.1 million in 2018 and is expected to grow to approximately 130 million by 2030. This message will not be visible when page is activated. This message will not be visible when page is activated. Each of the following mega-trends is changing the way we produce and use power globally. Jim serves as the vice chairman, US Power, Utilities & Renewables leader, as well as a lead client service partner for Deloitte Consulting LLP. The deployment is expected to grow as a large number of countries are opting for storage utilisation to support their power sector transformation. ... Tracking the trends 2020. In 2021, a new administration could usher in an acceleration in the energy industry’s transition and convergence. Social login not available on Microsoft Edge browser at this time. 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