Published on : May 03, 2021
Albany, New York, May 3, 2021: The smart generation solutions market expects a steady and smooth run across the forecast period as the need for clean energy continues to rise with considerable traction. Smart generation solutions are clean technology platforms that focus on innovation in power generation and electrification of aerospace and road transport. These solutions are used across residential, industrial as well as commercial applications.
The smart generation solutions market is segmented into fixed type and portable type. Battling environmental concerns such as global warming is the need of the hour. Consistent and use of non-renewable resources on a large scale is prompting the shift to sustainable resources for creating power generation alternatives. Thus, this aspect can largely benefit the smart generation solutions market.
The growth of the smart generation solutions market may remain stagnant during the novel coronavirus lockdown period but the post-lockdown scenario may bring exponential gains for the smart generation solutions market. This report titled ‘Global Smart Generation Solutions Market Size, Status and Forecast 2020-2026’ extensively focuses on the recent developments and the future opportunities associated with the smart generation solutions market.
The report on the smart generation solutions market offers in-depth analysis through considerable research across various parameters such as competitive landscape, key trends, and current scenario. This report also focuses thoroughly on the ongoing COVID-19 pandemic and its effect on the smart generation solutions market. This report will prove as a boon for the business owners and market shareholders to a large extent.
Road electrification is estimated to gain considerable momentum across the forecast period owing to the damage caused by carbon emissions as well as the rising rate of exhausting fossil fuels. The transport sector is responsible for one-sixth of global greenhouse emissions. Road electrification is estimated to bring about an 80-90 percent reduction in carbon emission. Therefore, this aspect highlights the need for road electrification. This, in turn, will benefit the smart generation solutions market to a great extent.
Government support for the adoption of green energy and road electrification is also accelerating the growth rate of the smart generation solutions market. Sweden recently launched an electric highway called eRoadArlanda. It is an electrified highway that enables the charging of modified electric vehicles while in motion. Such developments may assist in increasing the growth rate of the smart generation solutions market substantially.
The aerospace sector brings great growth opportunities for the smart generation solutions market as it is understanding the importance of limiting the environmental impact. According to the International Air Transport Association (IATA), there will be over six billion fliers and this sets a precedent for the aviation industry to prepare itself for sustainable aviation to control the rising number of fliers as well as conserve the environment. Hence, this is an ideal opportunity for increasing its growth rate.
Acquisitions and mergers are also in full swing for the development of aerospace electrification, thus giving an upper hand for the growth of the smart generation solutions market. The acquisition of Siemens’ electric and hydro-electric aerospace propulsion business is a classic instance.
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Geographically, the smart generation solutions market is spread across North America, Europe, China, Japan, Southeast Asia, India, Central, and South America. South Korea is making substantial efforts for the adoption of clean energy solutions and may bring good growth opportunities for the smart generation solutions market. For instance, South Korea’s Ministry of Trade, Industry, and Energy has started the green drive campaign for supporting smart energy solutions.
Korea Electric Power Corp. (KEPCO) has developed an energy management system that enables real-time management of energy including electricity, gas, and heat usage at numerous manufacturing units. Another company LG Group has launched Enerdict, a smart energy platform to increase power consumption efficiency.