![]() |
¿¬°£Á¤º¸ ¼ºñ½º
»óǰÄÚµå
1504287
GMIPulse : ¿¡³ÊÁö ¹× Àü·Â ½ÃÀå ÀÎÅÚ¸®Àü½º ±¸µ¶ ¼ºñ½ºGMIPulse - Energy & Power Market Intelligence Subscription |
Global Market Insights Inc.´Â ÃÖ°íÀÇ Àü·«Àû °¡Ä¡¸¦ Á¦°øÇϵµ·Ï ¼³°èµÈ ÃÖ÷´Ü ºñÁî´Ï½º ÀÎÅÚ¸®Àü½º(BI) Ç÷§ÆûÀÎ GMIPulse¸¦ Á¦°øÇϰí ÀÖÀ¸¸ç, GMIPulse´Â Á¾ÇÕÀûÀÌ°í ¼¼ºÐÈµÈ ½ÃÀå µ¥ÀÌÅÍ, °æÀï ȯ°æ ºÐ¼®, »ê¾÷ »ýŰ迡 ´ëÇÑ »ó¼¼ÇÑ Á¤º¸¸¦ Á¦°øÇϸç, °í°´ÀÇ °íÀ¯ÇÑ ´ÏÁî¿¡ ¸Â°Ô ¸ÂÃãÈÇÒ ¼ö ÀÖ´Â ÀûÀÀ·ÂÀÌ ¶Ù¾î³ ±¸µ¶ ¼ºñ½º¸¦ Á¦°øÇÕ´Ï´Ù. ÀÌ Ç÷§ÆûÀº ¸ðµç ½ÃÀå Á¶»ç ¿ä±¸ »çÇ×À» ÃæÁ·Çϰí ÃֽŠƮ·»µå¿Í ±â¼ú ¹ßÀü¿¡ ¾Õ¼ ³ª°¥ ¼ö ÀÖµµ·Ï º¸ÀåÇÕ´Ï´Ù.
¿¡³ÊÁö ¹× Àü·Â »ê¾÷Àº ±â¼ú ¹ßÀü, ȯ°æ ¹®Á¦ ¹× ±ÔÁ¦ ȯ°æÀÇ º¯È·Î ÀÎÇØ Å« º¯ÈÀÇ ½Ã±â¸¦ ¸ÂÀÌÇϰí ÀÖÀ¸¸ç, GMIPulse´Â ´ÙÀ½°ú °°Àº ¿¡³ÊÁö ¹× Àü·Â »ê¾÷ÀÇ ÁÖ¿ä Ŭ·¯½ºÅÍ¿¡ ´ëÇÑ ½ÉÃþÀûÀÎ ÅëÂû·ÂÀ» Á¦°øÇÕ´Ï´Ù.
¼¼°è ¹èÅ͸® ±â¼ú ½ÃÀåÀº Àü±âÀÚµ¿Â÷(EV) ¹× Àç»ý¿¡³ÊÁö ÀúÀå ¼Ö·ç¼ÇÀÇ Ã¤Åà Áõ°¡·Î ÀÎÇØ 2023³âºÎÅÍ 2030³â±îÁö ¿¬Æò±Õ 8.5%ÀÇ ¼ºÀå·üÀ» º¸ÀÏ °ÍÀ¸·Î ¿¹ÃøµË´Ï´Ù. ÁÖ¿ä ½ÃÀå¿¡´Â ¸®Æ¬ À̿ ¹èÅ͸®, °íü ¹èÅ͸®, ÇÃ·Î¿ì ¹èÅ͸®°¡ Æ÷ÇԵ˴ϴÙ. ¿¹¸¦ µé¾î, ¸®Æ¬ À̿ ¹èÅ͸® ½ÃÀåÀº Àü±âÂ÷ ¹× ÈÞ´ë¿ë ÀüÀÚÁ¦Ç°¿¡ ±¤¹üÀ§ÇÏ°Ô »ç¿ëµÇ¸é¼ Å« ¼ºÀåÀÌ ¿¹»óµË´Ï´Ù.
¼¼°è Àü±â±â±â ½ÃÀåÀº Àü·Â¸Á Çö´ëÈ ¹× ¿¡³ÊÁö È¿À²È¿¡ ´ëÇÑ ¼ö¿ä Áõ°¡¿¡ ÈûÀÔ¾î 2023³âºÎÅÍ 2030³â±îÁö ¿¬Æò±Õ 6.2%ÀÇ ¼ºÀå·üÀ» º¸ÀÏ °ÍÀ¸·Î ¿¹»óµË´Ï´Ù. ÁÖ¿ä ºÎ¹®À¸·Î´Â º¯¾Ð±â(º¯¾Ð±â), °³Æó±â(°³Æó±â), Â÷´Ü±â(ȸ·Î Â÷´Ü±â)°¡ ÀÖ½À´Ï´Ù. ƯÈ÷ ½º¸¶Æ® º¯¾Ð±â ½ÃÀåÀº ½Ç½Ã°£ ¸ð´ÏÅ͸µÀ» Á¦°øÇϰí Àü·Â¸ÁÀÇ ½Å·Ú¼ºÀ» Çâ»ó½Ãų ¼ö ÀÖ´Â ´É·ÂÀ¸·Î ÀÎÇØ °ßÀηÂÀ» ¾ò°í ÀÖ½À´Ï´Ù.
½ÅÈï ¿¡³ÊÁö ±â¼úÀº 2023³âºÎÅÍ 2030³â±îÁö 7.8%ÀÇ ¿¬Æò±Õ º¹ÇÕ ¼ºÀå·ü(CAGR)·Î ¼ºÀåÇÏ¸ç ¿¡³ÊÁö ºÎ¹®¿¡ Çõ¸íÀ» ÀÏÀ¸Å³ °ÍÀ¸·Î ¿¹»óµË´Ï´Ù. ÀÌ·¯ÇÑ ±â¼ú¿¡´Â ÷´Ü ¿øÀÚ·Î, ¼ö¼Ò ¿¬·áÀüÁö, ¿¡³ÊÁö È¿À² ½Ã½ºÅÛ µîÀÌ Æ÷ÇԵ˴ϴÙ. ¿¹¸¦ µé¾î, ¼ö¼Ò ¿¬·áÀüÁö´Â ÀÌ»êÈź¼Ò ¹èÃâ·®À» Å©°Ô ÁÙÀÏ ¼ö Àֱ⠶§¹®¿¡ °íÁ¤½Ä ¹× À̵¿½Ä ¸ðµÎ¿¡¼ äÅÃÀÌ Áõ°¡Çϰí ÀÖ½À´Ï´Ù.
¿¡³ÊÁö ÀúÀå ½Ã½ºÅÛ ½ÃÀåÀº Àç»ý °¡´É ¿¡³ÊÁö ½Ã½ºÅÛ ¼ö¿ä ¹× °ø±ÞÀÇ ±ÕÇüÀ» ¸ÂÃß±â À§ÇÑ Çʿ伺¿¡ µû¶ó 2023³âºÎÅÍ 2030³â±îÁö ¿¬Æò±Õ 9.3%ÀÇ ¼ºÀå·üÀ» º¸ÀÏ °ÍÀ¸·Î ¿¹»óµË´Ï´Ù. ÁÖ¿ä ½ÃÀå¿¡´Â ¹èÅ͸® ¿¡³ÊÁö ÀúÀå, ¾ç¼ö ¹ßÀü, ¿ ÀúÀå µîÀÌ Æ÷ÇԵ˴ϴÙ. ¹èÅ͸® ¿¡³ÊÁö ÀúÀå ½Ã½ºÅÛÀº Àü·Â¸ÁÀ» ¾ÈÁ¤ÈÇϰí ž籤 ¹× dz·Â°ú °°Àº °£ÇæÀûÀÎ Àç»ý °¡´É ¿¡³ÊÁö ¿øÀ» Áö¿øÇÏ´Â µ¥ ƯÈ÷ Áß¿äÇÕ´Ï´Ù.
¼¼°è °¢Áö¿¡¼ Àç»ý¿¡³ÊÁö·ÎÀÇ ÀüȯÀÌ °¡¼Óȵǰí ÀÖÀ½¿¡µµ ºÒ±¸ÇÏ°í ¼®À¯ ¹× °¡½º ½ÃÀåÀº ¿©ÀüÈ÷ Áß¿äÇϸç, 2023³âºÎÅÍ 2030³â±îÁö 3.5%ÀÇ ¿¬Æò±Õ º¹ÇÕ ¼ºÀå·ü(CAGR)À» ³ªÅ¸³¾ °ÍÀ¸·Î ¿¹»óµË´Ï´Ù. ÁÖ¿ä ºÎ¹®¿¡´Â ¾÷½ºÆ®¸² °øÁ¤ Ž»ç, ¹Ìµå½ºÆ®¸² °øÁ¤ ¿î¼Û, ´Ù¿î½ºÆ®¸² °øÁ¤ Á¤Á¦°¡ Æ÷ÇԵ˴ϴÙ. À¯Àü ¼ºñ½º ºÐ¾ß¿¡¼ µðÁöÅÐ ±â¼ú°ú ÀÚµ¿ÈÀÇ µµÀÔÀ¸·Î È¿À²¼ºÀÌ Çâ»óµÇ°í ¿î¿µ ºñ¿ëÀÌ Àý°¨µÉ °ÍÀ¸·Î ¿¹»óµË´Ï´Ù.
Àç»ý¿¡³ÊÁö ½ÃÀåÀº Á¤ºÎ Á¤Ã¥°ú ȯ°æ ÀÎ½Ä Áõ°¡¿¡ ÈûÀÔ¾î 2023³âºÎÅÍ 2030³â±îÁö ¿¬Æò±Õ 10.2%ÀÇ ³ôÀº ¼ºÀå·üÀ» ³ªÅ¸³¾ °ÍÀ¸·Î ¿¹»óµË´Ï´Ù. ÁÖ¿ä ½ÃÀå¿¡´Â ž籤, dz·Â, ¹ÙÀÌ¿À¿¡³ÊÁö°¡ Æ÷ÇԵ˴ϴÙ. ¿¹¸¦ µé¾î, ž籤 ¹ßÀüÀº ºñ¿ë °¨¼Ò¿Í žçÀüÁö ±â¼ú ¹ßÀüÀ¸·Î ÀÎÇØ ±Þ°ÝÇÑ ¼ºÀåÀ» º¸À̰í ÀÖ½À´Ï´Ù.
Æó±â¹° °ü¸® ½ÃÀåÀº ¾ö°ÝÇÑ È¯°æ ±ÔÁ¦¿Í µµ½ÃÈ Ãß¼¼¿¡ ÈûÀÔ¾î 2023³âºÎÅÍ 2030³â±îÁö 5.7%ÀÇ ¿¬Æò±Õ º¹ÇÕ ¼ºÀå·ü(CAGR)À» ³ªÅ¸³¾ Àü¸ÁÀÔ´Ï´Ù. ÁÖ¿ä ºÎ¹®¿¡´Â Æó±â¹° ¼ö°Å, ÀçȰ¿ë, Æó±â¹° ¹ßÀüÀÌ Æ÷ÇԵ˴ϴÙ. ƯÈ÷ Æó±â¹° ¹ßÀü ½ÃÀåÀº Æó±â¹° ó¸® ¹× ¿¡³ÊÁö »ý¼ºÀ» À§ÇÑ Áö¼Ó °¡´ÉÇÑ ¼Ö·ç¼ÇÀ» Á¦°øÇϱ⠶§¹®¿¡ ±× Á߿伺ÀÌ Ä¿Áö°í ÀÖ½À´Ï´Ù.
Àü¼± ¹× ÄÉÀÌºí ½ÃÀåÀº Àü·Â ¼ö¿ä Áõ°¡¿Í Åë½Å ÀÎÇÁ¶ó ¹ßÀü¿¡ ÈûÀÔ¾î 2023³âºÎÅÍ 2030³â±îÁö ¿¬Æò±Õ 6.8%ÀÇ ¼ºÀå·üÀ» ³ªÅ¸³¾ °ÍÀ¸·Î ¿¹»óµË´Ï´Ù. ÁÖ¿ä ºÎ¹®¿¡´Â Àü·Â ÄÉÀ̺í, Åë½Å ÄÉÀ̺í, Ư¼ö ÄÉÀ̺íÀÌ Æ÷ÇԵ˴ϴÙ. °í¼Ó Åë½Å ÄÉÀÌºí¿¡ ´ëÇÑ ¼ö¿ä´Â 5G ³×Æ®¿öÅ©¿Í ±¤¼¶À¯ ÀÎÇÁ¶óÀÇ È®Àå¿¡ ÈûÀÔ¾î Áõ°¡Çϰí ÀÖ½À´Ï´Ù.
GMIPulse´Â BI Áö¿ø Ç÷§ÆûÀ» ÅëÇØ ŸÀÇ ÃßÁ¾À» ºÒÇãÇÏ´Â Àü·«Àû °¡Ä¡¸¦ Á¦°øÇϸç, GMIulse´Â ¸ÂÃãÇü ´ëÈÇü ÀÎÅÍÆäÀ̽º, Á¤È®ÇÑ µ¥ÀÌÅÍ, Á¾ÇÕÀûÀÎ ½ÃÀå °í·Á»çÇ×À» ÅëÇØ °æÀïÀÌ Ä¡¿ÇÑ ¿¡³ÊÁö ¹× Àü·Â ½ÃÀå¿¡¼ ÇÑ¹ß ¾Õ¼ ³ª°¡±â À§ÇÑ ÇʼöÀûÀÎ µµ±¸·Î ÀÚ¸®¸Å±èÇϰí ÀÖ½À´Ï´Ù. ÇʼöÀûÀÎ µµ±¸ÀÔ´Ï´Ù. Áö±Ý ¹Ù·Î °¡ÀÔÇÏ¿© ½ÃÀå Á¶»ç ¹× Àü·« ¼ö¸³ ´É·ÂÀÇ ÀáÀç·ÂÀ» ±Ø´ëÈÇÒ ¼ö ÀÖ½À´Ï´Ù.
LSH 24.07.23Global Market Insights Inc. offers GMIPulse, a cutting-edge, Business Intelligence (BI)-enabled platform designed to deliver the finest strategic value. GMIPulse offers an adaptable subscription service, customizable to meet your unique needs, providing comprehensive and granular market data, competitive landscape insights, and an in-depth understanding of industry ecosystems. This platform is your go-to solution for all market research needs, ensuring you stay ahead with the latest trends and technological advancements.
The energy & power industry is undergoing significant transformation driven by technological advancements, environmental concerns, and evolving regulatory landscapes. GMIPulse provides in-depth insights into the following key clusters within the energy & power industry:
The battery technology industry is witnessing unprecedented change catalyzed by electric vehicle penetration and energy storage needs. The battery cell market will expand, on average, by over 20% annually through 2030 to at least $360 billion worldwide with potential acceleration to $410 billion. Growth in Li-ion battery sales in the coming decade will continue at a compound annual rate of about 30%, driven by EVs and energy storage systems to 4,000-4,500 gigawatt-hours by 2030. Lithium-ion technology leads existing market applications as other chemistries develop for niche uses.
Stationary battery storage is a key area of growth, with market estimates to reach USD 4.14 trillion by 2034. Next-generation battery technologies offer outstanding growth prospects in specialized uses. The size of the energy storage sodium ion battery market exceeded USD 245.3 million in 2024 and is anticipated to witness growth at a CAGR of 25.3% during the period of 2025-2034, spurred by increasing demand for safer, thermally stable batteries minimizing fire and explosion hazards in energy storage systems.
As penetration of electric vehicles increases, there may be a market for second life batteries with new interfaces to the power industry with significant ramifications for stationary storage. Developments in solid state batteries, applications of graphene in batteries, and optimization of battery packs continue to progress through automotive start-stop applications, SLI batteries, traction batteries, and reuse of EV batteries, while conventional alkaline and lead acid technologies remain current in certain segments of the market.
The electric equipment sector is undergoing a historic transformation fueled by grid modernization, renewable integration, and emerging power needs of data centers and AI. The United States depends on imports for key energy equipment-for instance, imports of electrical transformers, which have experienced longer and longer lead times. The transition to energy will demand a profound ramp-up in capital investment in the electric grid, brought at an unprecedented rate. United States grid and market operators are updating projections to meet a 15% annual rise in data center power demand by 2030, as existing infrastructure ages and efforts to electrify accelerate the need to replace equipment.
Switchgears are the largest and fastest-growing category among electrical equipment, spurred by infrastructure upgradation and integration of renewables. The market size of high voltage switchgear was more than USD 17.3 billion in 2024 and is anticipated to register a CAGR of 6.2% during 2025-2034, influenced by increasing electricity consumption due to urbanization, industrialization, and population expansion. The U.S. low voltage switchgear market was valued at USD 10 billion in 2024, demonstrating a high year-over-year growth.
Specialized electrical infrastructure parts deliver excellent performance in many ways. Residential switchgear indoor market was USD 17.8 billion in 2024, and forecasted to grow at 9.1 % CAGR from 2025 to 2034 due to increased renewable energy install, while the residential switchgear outdoor market size was USD 2.2 billion in 2024, and forecasted to grow at 10.8 % CAGR from 2025 to 2034 due to increased urbanization and need for electric distribution. Emerging smart switchgear, real-time monitoring, gas-insulated equipment, and vacuum circuit breakers are disrupting traditional electrical infrastructure (transformers, circuit breakers, capacitors, relays, meters, generators, turbines, substations and power control devices) and driving versatility towards the highest grid reliability and operational effectiveness.
The emerging energy technologies market is a key front in the world energy transition, marked by increased deployment of established technologies and initial development of game-changing solutions. These are renewable energy technologies (RES), electrification tools like electric vehicles (EVs), and heat pumps, and relatively less developed technologies like carbon capture, utilization, and storage (CCUS), green and blue hydrogen, and sustainable fuels. Hydrogen is expected to supply 10% of world energy demand by 2050, if production is made cheaper and capacity is increased. For low-emissions hydrogen, carbon capture, and low-emissions primary production, less than 1% of deployment needed by 2050 has been accomplished so far.
Carbon capture and storage technologies exhibit strong growth prospects with industries seeking decarbonization. The carbon capture and storage market size has crossed USD 8.6 billion in 2024 and is estimated to grow with a CAGR of 16% from 2025 to 2034, influenced by the stringent emission regulations and rules in line with expenditure to achieve decarbonization. Europe compliance carbon credit market value was USD 87.7 billion in 2024 and is projected to grow at a CAGR of 14.2% from 2025 to 2034. Carbon management systems also exhibit strong growth, with North America on-premises carbon management system market being estimated at USD 2.3 billion in 2024 and growing at a CAGR of 10.1% through 2034.
Hydrogen and fuel cell technologies reflect speeding commercialization in several applications. The prime power stationary fuel cell market size stood at USD 690 million in 2024 and is expected to register at a CAGR of 13.9% from 2025-2034 based on efforts for the emergence of a sustainable hydrogen economy.
The industry of energy storage systems is a key facilitator of the world energy transition, with unprecedented growth spurred by the need for renewable energy integration and grid modernization. LDES can potentially install 1.5 to 2.5 terawatts of power capacity-or eight to 15 times the amount of total energy-storage capacity installed today-around the world by 2040, equivalent to a total investment of $1.5 trillion to $3 trillion. LDES deployment would save 1.5 to 2.3 gigatons of CO2 equivalent annually by 2040, or approximately 10 to 15 percent of the current power sector emissions. Electrochemical energy storage leads current market deployment, and it is the largest growing sector in various applications.
The size of the stationary battery storage market was USD 264.9 billion in 2024 and is anticipated to attain a CAGR of 29.7% during 2025-2034, owing to increasing demand for efficient batteries from various industrial applications. The stationary flow battery storage market surpassed USD 7.6 billion in 2024 with a CAGR of 31% between 2034, fueled by the growing demand for bulk energy storage solutions in green energy integration and grid stabilization. Alternative energy storage technologies provide excellent performance across niche applications and new markets.
The market size for pumped hydro storage surpassed USD 349 billion in 2023, and is consistent for 11.8% CAGR until 2032, fueled by the additional cases of renewable energy integration coupled with a growing need for reliable energy storage solutions. In 2024, the flywheel energy storage market reached USD 1.3 billion with a prospect of 4.2% CAGR until 2034, due to increasing demand for reliable UPS systems in data centers. These technologies, and others such as compressed air energy storage, portable energy storage, solar energy storage, and thermal energy storage are flexible systems, meaning they can absorb and manage demand and supply variations by storing energy when available, and releasing energy when needed.
The oil and gas sector is facing a multifaceted shift defined by pressures to transition to lower-carbon energy, decarbonization needs, and requirements to modernize operations. Oil and gas firms have to decide where and how to compete while the world shifts toward a low-carbon future. The most upstream operators electrified operations, that would represent up to 720 tCO2e annually by 2050, at an estimated $10/tCO2e, assuming local electricity prices. Though LNG EBIT fell by 23% in 2024, partly because US export capacity materialized slower than anticipated, LNG prices may fall by as much as 30% by late 2026 or early 2027, in line with incremental liquefaction capacity materializing in the United States.
Oil and gas infrastructure is the largest segment in the industry ecosystem with huge market size and ongoing investment momentum. The size of the oil & gas infrastructure market was USD 761.1 billion in 2024 and it is projected to register a growth at a CAGR of 6.8% during the forecast period of 2025-2034, fueled by rising investments towards gas-fired power generation.
Analytics and digital transformation are disrupting operational efficiency in all industry verticals. The size of the upstream oil & gas analytics market surpassed USD 4.4 billion in 2024 and is projected to expand at a CAGR of 24.2% from 2025 to 2034, following increased infrastructural spending. Oil and gas electrification programs evidence initial traction, with the U.S. The oil & gas electrification market is projected to be USD 106 million by 2024, with a CAGR of 6% from 2025 to 2034. The oil & gas data management system has a 2024 forecast of USD 27.3 billion and a CAGR of 12.3% to 2034, which supports optimal downstream operations and bunkering efficiencies.
The renewable energy sector is undergoing unprecedented change as global capacity moves towards net-zero targets. The global renewable electricity capacity will nearly triple between 2021 and 2030 to over 8,800 gigawatts, with the overwhelming majority from onshore wind and solar McKinsey & Company. Yet to accomplish this growth is severely constrained, with utility-scale wind farms and solar farms needing at least ten times more land per unit of power compared to coal- or natural gas-fired power stations.
Solar power and wind power are the leading growth segments driving renewable capacity growth worldwide. The market size for renewable energy transformers was USD 9.9 billion in 2024 and is expected to grow at a CAGR of 9% during 2025-2034 owing to increasing solar and wind power production and the transition globally towards cleaner energy. Geothermal power presents robust performance as a baseload renewable resource, where market size exceeds USD 63.7 billion in 2023 and is forecasted to register over 8.6% CAGR during 2024 to 2032 due to increasing deployment of clean energy solutions across the world.
Decentralized power generation using microgrid technologies presents remarkable growth in various applications. The size of the hybrid microgrid market surpassed USD 2.4 billion in 2023 and is anticipated to register more than 20.9% CAGR between 2024 and 2032, owing to increasing natural disasters and grid outages. The combined heat and power market exceeded USD 22.9 billion in 2023 and should see approximately 7.6% CAGR between 2024 and 2032 due to increased emphasis on sustainability and energy efficiency. The next generation of advanced technologies, from biogas- to concentrated solar power to hydropower to distributed energy resources, are transforming the time-worn paradigms of power generation to promote better energy security and grid resilience for residential, commercial and industrial load while addressing today's most critical technical challenges; land and availability of land, permitting delays, and interconnection to the grid.
The waste management sector is witnessing unparalleled change fueled by circular economy principles, opportunities for resource recovery, and intensifying environmental pressures. The growth in emerging economies is delivering wealth. However, increased consumption is usually associated with increased use of resources and an increase in waste. If we spend less time dealing with waste and more time designing a waste diversion program, the opportunity to turn waste to income is there, with many different streams of value deriving from waste with technology available today.
Every metric ton of clothing diverted from the waste stream would create $1,975 in returns if the garment was sold at current secondary-market prices. While the total value recoverable from consumer waste streams is often greater than what is currently recoverable, recycling programs for PET bottles only recover between 40 and 60 percent of the value possible.
Waste to energy technology is the biggest growing waste management technology category as a result of energy recovery needs and sustainability needs. The waste to energy market value was USD 42.4 billion in 2024 and is expected to grow at a rate of 6.6% CAGR during the period 2025-2034 due to increased energy demand and tougher landfill diversion regulations. Anaerobic digestion systems exhibit strong performance within organic waste treatment applications, incentivized by increasing interest in renewable energy.
Especially designed waste treatment technologies exhibit strong growth through industrial and municipal uses. Sludge dewatering equipment market size was over USD 5.3 billion in 2024 and is set to record a CAGR of 9.4% between 2025 and 2034, spurred by increased wastewater treatment operations. Waste heat recovery systems showcase unparalleled potential, with the market size exceeding USD 64.76 billion in 2024 and anticipated to expand at a 7.5% CAGR during 2034, fueled by energy efficiency policies. Waste heat to power systems, wastewater recovery systems, incinerators, land incinerators, and ways to deal with drilling waste are changing the conventional waste treatment paradigm, enabling better recovery of resources and environmental regulations across municipal and industrial sectors.
The wire and cable market is witnessing unprecedented growth fueled by grid modernization, electrification efforts, and renewable energy integration needs. U.S. Department of Energy states that advanced conductor systems can provide energy savings by lowering transmission losses and infrastructure expenses, and that improved conductor systems can save the need to triple the number of power lines in order to decarbonize the US power grid. Expectations on the US electric grid are changing prompting utilities to adjust by seeking comprehensive modernization strategies, with addressing the near- and long-term requirements of electric grids necessitating coordinated and integrated investment.
The worldwide wire and cable market is demonstrating strong growth through different categories and applications of products. The size of the wire and cable industry exceeded USD 267.8 billion in 2024 and is anticipated to develop at a CAGR of 7.3% during 2025-2034, due to investments in transmission and distribution infrastructure. Power cable is the biggest segment in this ecosystem, and power and control cable market size is USD 144.8 billion in 2024, growing at a CAGR of 6.7% during the period of 2025-2034 owing to the increased automation and use of robotics and IoT applications in Industry 4.0.
Applications of armored cable highlight outstanding growth in specialized industries and extreme environment applications. The armored cable market size exceeded USD 47.7 billion in 2024 and is predicted to showcase about 7.2% CAGR between 2025 and 2034, due to increasing demand across various sectors, including construction, industrial, and energy. Control cable demand keeps on growing, with control cable market size crossing USD 22.2 billion in 2024 and set to register 8.3% CAGR between 2025-2034, owing to increasing demand for automation in industrial, commercial, and residential applications. Materials innovation in wire and cables targets advanced insulation technologies, light materials, and better durability to address changing safety regulation and performance needs in power transmission, industrial automation, and renewable energy uses.
GMIPulse offers unparalleled strategic value through its BI-enabled platform. With its customizable and interactive interface, accurate data, and comprehensive market insights, GMIPulse is your essential tool for staying ahead in the competitive energy & power market landscape. Subscribe today to unlock the full potential of your market research and strategic planning capabilities.