Market Forecast
"Market forecast at a glance [MNM Reports, 2023]"
1 - Carbon Offset/Carbon Credit Market worth USD 1602.7 billion by 2028 (CAGR of 31%)
According to a research report "Carbon Offset/Carbon Credit Market by Type (Voluntary Market, Compliance Market), Project Type (Avoidance/Reduction Projects, Removal/Sequestration Projects (Nature-based, Technology-based)), End-User and Region - Global Forecast to 2028" published by MarketsandMarkets, the global carbon offset/carbon credit market is expected to grow from an estimated USD 414.8 billion in 2023 to USD 1,602.7 billion by 2028, at a CAGR of 31.0%. Some of the prominent KEY PLAYERS are: NativeEnergy (US), Finite Carbon (US), 3Degrees (US), South Pole Group (Switzerland), EKI Energy Services Ltd. (India), among others.
2 - Top 10 High & Medium Voltage Product Market worth USD 349.7 billion by 2028 (CAGR of 5.8%)
According to a research report "Top 10 High & Medium Voltage Products Market HV (Switchgear, HV Cables, Power Transformer), MV (Ring Main Unit, Recloser, MV Cables, Voltage Regulator, Surge Protection Device, Disconnect Switch), Installation Type End User - Global Forecast to 2028", published by MarketsandMarkets, the Top 10 high & medium voltage products is projected to reach USD 349.7 billion by 2028 from an estimated USD 264.1 billion in 2023, at a CAGR of 5.8% during the forecast period.
3 - Hydrogen Generation Market worth USD 257.9 billion by 2028 (CAGR of 10.2%)
According to a research report "Hydrogen Generation Market by Technology (SMR, ATR, POX, Coal Gasification, Electrolysis), Application (Refinery, Ammonia, Methanol, Transportation, Power Generation), Source (Blue, Green, Gray), Generation Mode Region - Global Forecast to 2028", published by MarketsandMarkets, the global hydrogen generation market is projected to reach USD 257.9 billion by 2028 from an estimated USD 158.8 billion in 2023, at a CAGR of 10.2% during the forecast period.
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4 - Biofuel Market worth USD 225.9 billion by 2028 (CAGR of 6.2%)
According to a research report "Biofuel Market by Fuel Type (Ethanol, Biodiesel, Renewable Diesel, and Biojets), Generation (First Generation, Second Generation, Third Generation), End-use, Application (Transportation, Aviation) and Region - Global Forecast to 2028", the global biofuel market is projected to reach USD 225.9 billion by 2028 from an estimated USD 167.4 billion in 2023, at a CAGR of 6.2% during the forecast period. Some of the prominent KEY PLAYERS are: ADM (US), Chevron (US), Valero (US), Neste (Finland), Cargill, Incorporated (US) among others. The ethanol, by fuel type, is expected to be the largest segment during the forecast period.
5 - Biorefinery Market worth USD 210.3 billion by 2027 (CAGR of 8.2%)
Biorefinery Market by Type (First Generation, Second Generation, and Third Generation), Technology (Industrial Biotechnology, Physico-Chemical, and Thermochemical), Product (Energy driven, and Material driven) and Region - Global Forecast to 2027 published by MarketsandMarkets, the global Biorefinery market is expected to grow from an estimated USD 141.8 billion in 2022 to USD 210.3 billion by 2027, at a CAGR of 8.2%. Increasing demand for biofuels to achieve net zero emissions are the primary driver for the global biorefinery market across the globe.
6 - Hydrogen Energy Storage Market worth USD 196.8 billion by 2028 (CAGR of 76.8%)
According to a research report "Hydrogen Energy Storage Market by Form (Gas, Liquid, Solid), Technology (Compression, Liquefaction, Material Based), Application (Stationary Power, Transportation), End User (Electric Utilities, Industrial, Commercial) Region - Global Forecast to 2028", published by MarketsandMarkets, the global hydrogen energy storage market is projected to reach USD 196.8 billion by 2028 from an estimated USD 11.4 billion in 2023, at a CAGR of 76.8% during the forecast period. Some of the prominent KEY PLAYERS are: Linde plc (Ireland), Plug Power Inc. (US), ENGIE (France), Iwatani Corporation (Japan), FuelCell Energy, Inc. (US) and many more. The compression, by technology, is expected to grow at the highest CAGR during the forecast period.
7 - Electric Motors Market to Grow USD 186.0 billion by 2027 (CAGR of 6.8%)
According to a research report "Electric Motors by Type (AC, DC), Power Rating (<1 kW, 1–2.2 kW, 2.2–375 kW, >375 kW), End User (Industrial, Commercial, Residential, Transportation, and Agriculture), Voltage, Rotor Type, Output Power and Region - Global Forecast to 2027 published by MarketsandMarkets, the global electric motors market is expected to grow from USD 134.0 billion in 2022 to USD 186.0 billion by 2027, at a CAGR of 6.8%. This market is mainly driven by increasing investments in electric vehicles and development of manufacturing industry. Growing demand for electric motors in manufacturing industries, and rising demand for energy-efficient motors are the driving factor for electric motors market.
8 - Lithium Iron Phosphate Batteries Market to Grow USD 35.5 billion by 2028 (CAGR of 14;9%)
According to a research report, Lithium Iron Phosphate (LFP) Batteries Market is projected to reach USD 35.5 billion by 2028 from an estimated USD 17.7 billion in 2023, at a CAGR of 14.9% during the forecast period. Based on capacity, the LFP batteries market has been split into 0–16,250 mAh; 16,251–50,000 mAh; 50,001–100,000 mAh and 100,001–540,000 mAh. 50,001–100,000 mAh capacity batteries are expected to grow at the highest CAGR during the forecasted period. Some of the prominent KEY PLAYERS are: BYD Company Ltd. (China), Contemporary Amperex Technology Co., Limited. (China), Gotion, Inc. (US), CALB (China), A123 Systems LLC (US), among others.