Search results for: 'simulation ad analysis software'

The International Energy Agency (IEA) estimates that emissions from the energy sector alone reached 37 gigatonnes (Gt) of carbon dioxide (CO2) in 2022, hitting a new milestone. Mitigating greenhouse gases (GHGs) and achieving long-term net-zero energy targets are focal points for several developed and developing countries. However, the defossilizat...

25 Oct 2024  |  Global  |  Market Research

Digital Twins in the Oil and Gas Industry, Global, 2024 2030

Digital Twins are Driving Transformational Growth in the Global Oil and Gas Industry by Enabling Precise Operational Simulation

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Fueled by the rising adoption of autonomous technologies, digital twins are emerging as an attractive growth opportunity in the oil and gas (O&G) industry. Digital twin technology helps O&G firms utilize and analyze enormous amounts of production data, enabling them to visualize various hypothetical production scenarios in real time. Digital twi...

This study analyzes breakthrough advancements in mechanical energy storage (MES) technologies. With the decreasing cost of renewable energy, the contribution of clean energy systems to the global electricity mix has significantly increased, reaching around 30% in 2022. This, in turn, has led to an exponential surge in the demand for energy storage ...

The industry faced significant challenges in 2023, as the ripple effect of supply chain and logistical issues echoed throughout the industry, which struggled to meet the strong demand for transmission and distribution (T&D) equipment. Despite supply chain challenges and economic uncertainty, the pressing need for grid modernization to meet the requ...

13 Aug 2024  |  Global  |  Market Research

Growth Opportunities in the Hydrogen Electrolyzers Market, 2023 2033

Despite Challenging Market Conditions in the Short-term, Electrolyzers Will Likely Become a $28.18 Billion Market Play by 2033

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Electrolyzers use electrolysis to generate hydrogen from water. They will play a crucial role in the global transition towards clean energy because they provide a sustainable and efficient method for producing low- or zero-carbon hydrogen for various applications across many industrial sectors. The key factors that contribute to the electrolyzer in...

Decarbonization, digital transformation, and technology innovation have accelerated significantly in the past five years. The global energy industry is experiencing an unprecedented transition, and this change is bringing exciting new growth opportunities to the oil and gas (O&G) sector. Digital technology and new business models are driving the...

The battery energy storage system (BESS) is a super-high growth market. The ongoing clean energy transition driving intermittent wind and solar capacity and the retirement of fossil-fuel-based generation plants requires critical services to balance the electricity system. BESSs have emerged as the most effective solution for this purpose. Estimated...

2024 is expected to be a year of significant growth for the renewable energy sector in North America because of favorable climate policies and regulations. In 2022, the United States passed the Inflation Reduction Act (IRA), which has boosted investor confidence and provided incentives for investment in domestic supply chains. Despite challenges re...

11 Mar 2024  |  Global  |  Market Research

Carbon Markets: Trends and Growth Opportunities

Carbon Pricing Operates as an Instrument to Tackle Emissions and Accelerate the Transition to Net Zero

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Carbon markets are trading systems that use greenhouse gas (GHG) emissions as a commodity, setting a price on them based on the value of the emitted carbon dioxide. Companies can purchase and sell carbon credits or carbon offsets to compensate for their GHG emissions. There are two main types of carbon pricing initiatives, mandatory and voluntary, ...