Energy Market Data

  PV Inverter Industry Overview The global PV inverter market size was valued at USD 9.31 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. The energy demand has been growing year on year, which in turn, is driving the need for different renewables such as solar energy and equipment. Since the downturn in gas prices in the year 2014, alternative energy, especially wind and solar have been placed on the backburner and the trend has reverberated across numerous industries. The U.S. emerged as the largest market in North America in 2021. It is a significant market for different types of PV inverters. Some of the recent inverter trends in the U.S. include an increase in sizes of central inverters (1.5 MW plus) and three-phase string inverters (60 kW). Though the U.S. has witnessed steady growth for string inverters, the central inverters are anticipated to maintain their hold of the market share. The value chain of solar inv...

  Enhanced Oil Recovery Industry Overview The global enhanced oil recovery market size was valued at USD 38.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030. An increasing number of aged wells, along with decreasing production from existing oilfields, is expected to drive the market demand over the forecast period. Enhanced oil recovery (EOR) technology enhances oil production from mature and aged oil fields, by almost 10 to 20 percent when compared to conventional oil extraction methods. Mature wells are those oil reserves where production has reached its peak and has started to decline owing to poor permeability or exhibiting heavy oil. Technically, EOR increases the permeability of the reservoir so that hydrocarbons can flow through the pathways easily and into the targeting producing well. The U.S. market is anticipated to witness significant growth on account of the growing exploration of unconventional oil and g...