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CHICAGO, April 28, 2020 /PRNewswire/ -- Post COVID-19, the report "COVID-19 Impact on Battery Energy Storage Market by Application (Residential, Nonresidential, and Utilities) and Region - Global Forecast to 2021", size is projected to grow from USD 5.7 billion in 2020 to USD 7.3 billion by 2021 during the forecast period. The major factors driving the battery energy storage industry include the growing need for continuous power from critical infrastructure sectors and the rising need to integrate renewable energy sources and rural electrification. Request of PDF Brochure: https://www.marketsandmarkets.com/PDFdownloadNew.asp?id=123828640 The utilities application segment is projected to account for the largest share in the Battery Energy Storage Market during the forecast period The utilities segment is expected to account for the largest share in the global battery energy storage industry during the forecast period. According to the US EIA and NREL, utility-owned battery energy storage systems play a crucial role in the operations of current and future energy generation mix of a country. In addition to the system flexibility they provide, battery energy storage systems also offer reliable interconnections in neighboring power systems. The utility-owned segment is mainly being driven by increasing financial incentives and regulatory supports from the governments globally. The current utility-owned energy storage systems are affected primarily by the COVID-19 pandemic. Most of the projects in China, the US, Germany, and South Korea are delayed, and the companies are facing short-term operational issues due to supply chain constraints and lack of site access due to the COVID-19 outbreak.

the Oil & Gas Sensors Market is expected to grow from USD 7.4 billion in 2018 to USD 9.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. Download PDF Brochure @ The major factors driving the Oil & Gas Sensors Market include growing IoT in the oil & gas industry. IoT in the oil and gas industry helps in improving operational efficiency, revenue, real-time data, and decreasing safety risk, and environmental footprint.

MarketsandMarkets: The gas-insulated substation market is projected to reach USD 29.5 billion by 2023 from USD 18.9 billion in 2018, at a CAGR of 9.2%. Browse 65 market data Tables and 33 Figures spread through 132 Pages and in-depth TOC on "Gas-Insulated Substation Market - Global Forecast to 2023" Download PDF Brochure @ https://www.marketsandmarkets.com/PDFdownloadNew.asp?id=222051400 The gas-insulated substation market is expected to register a CAGR of 9.3% from 2018 to 2023. The growth in this market is supported mainly by the growing renewable power generation, the increasing investments in the transmission & distribution infrastructure, the rising energy demand, and limitations of space availability in densely populated urban areas, and increasing government initiatives for improving the electricity access.

The global hydrogen energy storage market is projected to reach USD 18.2 billion by 2024 from an estimated USD 13.7 billion in 2019, at a CAGR of 5.8% during the forecast period. Increase in demand for hydrogen in the chemical industry and market for hydrogen in stationary and portable power are driving the growth of the global industry. Browse 72 market data Tables and 40 Figures spread through 139 Pages and in-depth TOC on "Hydrogen Energy Storage Market - Global Forecast to 2024" Download PDF Brochure @ https://www.marketsandmarkets.com/Market-Reports/hydrogen-energy-storage-market-107179995.html Gas segment is expected to lead the hydrogen energy storage market by state The Gas segment is expected to lead the hydrogen energy storage market as there are multiple cost-effective methods available to store hydrogen as a gas via compression. The growth of gas segment is because of the easy available plans to produce and store hydrogen in the gaseous form. Compression segment is expected to capture the significant share of the hydrogen energy storage market by storage technology Compressed hydrogen gas can be stored using various storage tanks such as low-pressure tanks, pressurized tanks, and underground storage. In the case of the underground room, hydrogen gas is injected and compressed in an underground salt cavern. Compressed hydrogen gas storage is the simplest solution because only compressor and a pressure vessel equipment is required to store it which is the reason for its increasing demand in the hydrogen energy storage market globally. Utilities are the leading end-users of hydrogen energy storagesand are expected to lead the market throughout the forecast period Hydrogen energy storage market has been categorized, based on end-user into industrial, commercial, and utilities. Utilities are expected to be the fastest-growing as the demand for power generation increases, using renewable energy sources is likely to generate the need for hydrogen energy

The motor monitoring market is expected to grow from USD 1.6 billion in 2018 to USD 2.3 billion by 2023, at a CAGR of 7.4% during the forecast period. Major factors driving the market growth are the growing prominence of predictive maintenance and increasing need to minimize revenue loss caused by motor faults. Browse 64 market data Tables and 17 Figures spread through 120 Pages and in-depth TOC on "Motor Monitoring Market " Download PDF Brochure @ https://www.marketsandmarkets.com/PDFdownloadNew.asp?id=142439618 Software offerings to witness higher CAGR in global motor monitoring market during forecast period The motor monitoring market has been segmented on the basis of offering into hardware and software. The use of software offerings to collect data from hardware monitoring and generate a database to analyze the working of motors is likely to grow during the forecast period. These software are used for data analytics to deduce faults or errors in motors in a manufacturing plant; however, skilled workforce is required to successfully run preventive or predictive maintenance through motor condition monitoring solutions. Oil & gas to continue to hold largest share in global motor monitoring market during forecast period The oil & gas industry held the largest share of the motor monitoring market in 2018, and it is expected to be the leading segment over the forecast period. Oil & gas companies have been emphasizing on increasing productivity and lowering operating costs in response to the pressure built by the fluctuating oil prices in the global market. Hence, these industries are likely to adopt monitoring solutions and related services to maintain the efficient working of their critical assets and reduce downtime.

According to the new market research report "Gas-Insulated Substation Market by Voltage Type (Medium, High, and Extra High), Installation (Indoor and Outdoor), Output Power, End-User (Power Transmission Utility, Distribution Utility, and Generation Utility), and Region - Global Forecast to 2023", MarketsandMarkets: The gas-insulated substation market is projected to reach USD 29.5 billion by 2023 from USD 18.9 billion in 2018, at a CAGR of 9.2%. Browse 65 market data Tables and 33 Figures spread through 132 Pages and in-depth TOC on "Gas-Insulated Substation Market - Global Forecast to 2023" Download PDF Brochure @ https://www.marketsandmarkets.com/PDFdownloadNew.asp?id=222051400 The gas-insulated substation market is expected to register a CAGR of 9.3% from 2018 to 2023. The growth in this market is supported mainly by the growing renewable power generation, the increasing investments in the transmission & distribution infrastructure, the rising energy demand, and limitations of space availability in densely populated urban areas, and increasing government initiatives for improving the electricity access. The high voltage segment will continue to dominate the gas-insulated substation market, by voltage type, during the forecast period The gas-insulated substation market is segmented, by voltage type, into medium, high, and extra high. The high voltage segment held the largest market share in 2018. This can be attributed to its reliability and protection for the grid infrastructure. High voltage gas-insulated substations are used widely for critical switchyard of large power generation plants. A majority of the gas-insulated substations connected to the high voltage transmission grid are of indoor types. The high voltage segment is also driven by the refurbishment of old power transmission infrastructure in the developed countries of Europe and North America.

the global Variable Frequency Drive Market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, stagnant growth of the oil & gas industry and decrease in the exploration & production activity is hindering the growth of the Variable Frequency Drive Market. Download PDF Brochure: https://www.marketsandmarkets.com/PDFdownloadNew.asp?id=878 The low voltage segment is expected to hold the largest share of the Variable Frequency Drive Market, by voltage type, during the forecast period The low voltage segment, by voltage, is estimated to account for the largest share during the forecast period. Low voltage variable frequency drives are used in a wide range of applications such as pumps, fan, belt conveyor, centrifugal pumps, and centrifugal compressors. Low voltage variable frequency drives are designed for industrial applications, especially in process industries such as pulp & paper, power, water & wastewater, and oil & gas. Thus, the growing use of low voltage drives in a wide range of applications is expected to boost the growth for this segment

The global hydrogen energy storage market is projected to reach USD 18.2 billion by 2024 from an estimated USD 13.7 billion in 2019, at a CAGR of 5.8% during the forecast period. Increase in demand for hydrogen in the chemical industry and market for hydrogen in stationary and portable power are driving the growth of the global industry. Gas segment is expected to lead the hydrogen energy storage market by state The Gas segment is expected to lead the hydrogen energy storage market as there are multiple cost-effective methods available to store hydrogen as a gas via compression. The growth of gas segment is because of the easy available plans to produce and store hydrogen in the gaseous form. Download PDF Brochure: https://www.marketsandmarkets.com/PDFdownloadNew.asp?id=107179995 Compression segment is expected to capture the significant share of the hydrogen energy storage market by storage technology Compressed hydrogen gas can be stored using various storage tanks such as low-pressure tanks, pressurized tanks, and underground storage. In the case of the underground room, hydrogen gas is injected and compressed in an underground salt cavern. Compressed hydrogen gas storage is the simplest solution because only compressor and a pressure vessel equipment is required to store it which is the reason for its increasing demand in the hydrogen energy storage market globally. Utilities are the leading end-users of hydrogen energy storagesand are expected to lead the market throughout the forecast period Hydrogen energy storage market has been categorized, based on end-user into industrial, commercial, and utilities. Utilities are expected to be the fastest-growing as the demand for power generation increases, using renewable energy sources is likely to generate the need for hydrogen energy storage in the utility segment.

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The CNG dispenser market is projected to reach USD 225.5 million by 2023. The global CNG dispenser market is expected to grow from an estimated USD 155.2 million in 2018 to USD 255.5 million by 2023, at a CAGR of 7.76% from 2018 to 2023. The market is set to grow due to stringent emission policies across all countries. Many other countries across the world planned to reduce emissions by a certain level by 2020 at the United Nations Framework Convention on Climate Change held in 2015. New emission policies are likely to get introduced by 2019 or 2020, depending on the largest achievement and are expected to create opportunities for CNG vehicles. The fast fill segment is expected to hold the largest share of the CNG dispenser market, by type, during the forecast period. The CNG dispenser market has been segmented, by type, into fast fill and time fill. The fast fill segment is expected to be the largest because CNG at fast fill stations is often stored in vessels at high service pressure, which helps in delivering the fuel faster. Download PDF Brochure @ https://www.marketsandmarkets.com/PDFdownloadNew.asp?id=47008991 Company owned & company run segment is the fastest growing CNG dispenser market, by distribution, during the forecast period. The CNG dispenser market has been segmented, by distribution, into company owned & company run, company owned & dealer run, and dealer owned & dealer run. The company owned & company run segment is estimated to hold the largest share of the market during the forecast period because the operational improvement program reduces the cost and complexity in line. The primary purpose is to focus on the structure and size of the organization.