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GlobalData

Power

AI-driven predictive maintenance gaining traction in power industry, says GlobalData

Artificial intelligence (AI)-enabled predictive maintenance stands out as a key component in the pursuit of enhanced reliability and cost-effectiveness in the power industry. This advanced approach is revolutionizing operations in power plants by improving the predictability of equipment upkeep, optimizing the allocation of resources, and enhancing overall plant efficiency. It has the potential to decrease […]
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Argentina’s power capacity to increase to 61.8GW by 2035, forecasts GlobalData

Argentina has been grappling with significant power shortages in recent years, compelling the government to focus on augmenting the nation’s installed capacity. through the development of hydropower, nuclear power, and renewable energy. Against this backdrop, the cumulative power capacity of the country is forecast to reach 61.8GW in 2035, registering a compound annual growth rate […]
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Renewables to account for over half of Brazil’s annual power generation in 2035, forecasts GlobalData

Brazil generates power from a diverse range of sources that include thermal sources (gas, oil, and coal), hydropower, nuclear, and renewable. Hydropower accounts for the majority of the country’s annual power generation. However, overdependence on hydropower has made the country vulnerable to droughts. To overcome the challenge, the country is rapidly developing its renewable power […]
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UAE’s power capacity to reach 79.1GW in 2035, forecasts GlobalData

The United Arab Emirates (UAE) boasts one of the most secure and stable electricity supply systems in the region. Leveraging its substantial natural gas and oil reserves, among the largest globally, the UAE generates sufficient electricity to satisfy domestic consumption. The nation primarily utilizes its gas for power generation and for re-injection into oil fields […]
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Global renewable power installed capacity to surge to 11.2TW by 2035, forecasts GlobalData

The power sector is experiencing a notable growth in renewable energy sources, propelled by an array of factors such as technological progress, policy incentives, and a heightened awareness of the imperative for sustainable energy solutions. Consequently, renewable resources, particularly solar photovoltaic (PV) and wind energy, are gaining a larger share in the energy portfolio. Driven […]
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Kazakhstan’s electricity consumption to increase to 111TWh by 2035, forecasts GlobalData

Kazakhstan’s electricity consumption has been on a steady rise, driven by industrial expansion, urbanization, digitalization, and electrification. The nation’s power demand is predominantly fueled by energy-intensive industries, mining, oil and gas operations, and residential sector growth. This surge in industrial activity has led to a heightened demand for electricity; annual consumption escalated from 83.9TWh in […]
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Europe’s hydrogen initiatives and renewable energy auctions to accelerate region’s energy transition, says GlobalData

Three years into the Russia-Ukraine conflict, Europe has significantly diminished its reliance on Russia. Even though the EU has been importing liquified natural gas (LNG) primarily from the US, Norway, and Qatar since the onset of hostilities, the continent has decreased its overall consumption of fossil fuels, particularly the power sector has progressively become cleaner. […]
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Global nuclear power capacity to reach 494GW by 2035, driven by advancements in SMRs and clean energy shift, says GlobalData

The global nuclear power sector has witnessed steady growth in recent years, driven by the need for low-carbon baseload power, energy security, and a renewed interest in decarbonizing industrial sectors. New capacity additions, advancements in reactor technology with small modular reactors (SMRs) emerging as a transformative solution, and supportive policies have contributed to increased generation […]
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Global transformers market to reach $51.33 billion in 2028, led by the Asia-Pacific region, forecasts GlobalData

The global power industry is witnessing significant growth, with the global power transformers market projected to reach $23.60 billion, and the distribution transformers market expected to hit $27.73 billion by 2028. In 2023, the Asia-Pacific (APAC) region emerged as the market leader, fueled by heightened commercial activity in Southeast Asia and substantial asset demands in […]
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