The global powder technology market is expected to grow at the CAGR of 5% during 2015-2022. The major factors driving the market are high demand of the products in various end user segments such as automotive and aerospace segment. High investment in the automotive market by various economies is boosting the automotive industry. Since it is one of the major end user of the powder metals, it’s acting as booster for the powder metallurgy market.
Increase in electricity consumption increases the energy supply demand and hence results in high need of energy storage devices. The demand of electricity over the time period is fluctuating whereas the electricity generation is fixed. Increase in research and development increases the number of other energy source which result in high demand for advanced energy storage devices over the forecasted period.
The global Renewable Energy market is expected to grow at the CAGR of 10% during 2015-2022 and it is estimated to be $XX billion by 2022. The global Renewable Energy market is segmented on the basis of types, end user applications and geography. Globally the need for renewable energy as an alternate to fossil based power and fuels sources is gaining popularity. Recent environment seminars and debates have been discussing on how renewable energy sources could be viable and cost effective source of power.
Energy and Utilities companies have undertaken innovative process and technological initiatives, especially in electricity and gas distribution and management of logistics. New entrants and disruptive technologies have changed the landscape of this market. Development and economic viability of clean and renewable energy is a key priority of companies and governments worldwide.
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