The global portable inverter generator market is poised for substantial growth, driven by the increasing demand for reliable power in both developed and developing nations. This market research report analyzes the key factors driving growth, including the rising prevalence of power outages and the demand for clean and efficient power solutions. It also explores the key players shaping the market, their innovations, and the future outlook for this dynamic sector.
The global gas turbine market is poised for robust growth, driven by the increasing demand for reliable power in remote areas and critical facilities. Distributed energy systems, powered by gas turbines, are gaining traction for their flexibility and resilience. This market is expected to reach a value of US$ 54.8 billion by 2031, growing at a CAGR of 4.8% from 2023 to 2031. Advancements in additive manufacturing, the rise of microgrids, and the integration of energy storage solutions are further accelerating the market’s expansion.
The global wood pellets market is experiencing a significant upswing driven by the increasing demand for renewable energy sources and the decline in reliance on fossil fuels. This market is projected to reach USD 5.89 billion by 2028, growing at a CAGR of 8.09%. This growth is fueled by the shift towards cleaner energy sources in the power industry, particularly in countries like China and India, where coal power plants are being replaced with renewable alternatives. Wood pellets, a carbon-neutral energy source, are emerging as a viable replacement for coal in power generation and heating applications.
WattBridge Energy, an independent power producer, has commissioned its sixth generating facility in Texas, the Remy Jade Generating Station. This new facility, powered by eight LM6000 gas turbines, adds 384 MW of dispatchable power to the ERCOT grid, supporting nearly 2 million homes. WattBridge’s commitment to grid resilience and energy security is further demonstrated through its four projects totaling 1,600 MW submitted to the Texas Energy Fund, aiming to expand its portfolio to nearly 5,000 MW.
Aslan Energy Capital and PT Calypte Sugi Power have signed a Memorandum of Understanding (MoU) to collaborate on the development of a solar power generation hub on Sugi Island, Indonesia. The project aims to achieve 1 GW of solar power by Q3 2026, with plans to reach 2 GW by Q4 2027, contributing to Indonesia’s sustainable energy goals.
Shanghai Electric has successfully modernized the Ninh Binh Power Plant in Vietnam, extending its operational life by another 30 years. The plant, a vital energy source for Northern Vietnam, underwent a comprehensive refurbishment, boosting the output of its four steam turbines and enhancing its overall performance.
Tamil Nadu’s solar power generation reached a new peak on Saturday, surpassing the previous record with 40.9 million units (Mu) absorbed. This also marks the highest daily solar power generation in three months. Meanwhile, wind power generation saw a dip due to rain, but is expected to pick up in the coming days.
The global steam turbine market is projected to experience significant growth from 2024 to 2028, driven by the increasing demand for power generation and a growing focus on renewable energy sources. However, challenges like maintenance needs and emission standards will influence the market’s trajectory.
India’s hydropower generation is facing a significant setback due to the delayed monsoon and low reservoir levels, potentially impacting power supply during the peak demand season. The situation is exacerbated by El Nino’s influence, causing patchy rainfall and a prolonged dry spell, resulting in lower water storage in key reservoirs.
As India braces for a potential heatwave, the government has ordered all gas-based power plants to be operational from May 1 to June 30 to meet the anticipated increase in power demand. The move aims to avoid a repeat of last September’s record high demand of 243 gigawatts, which is projected to reach 260GW this summer. Despite the growing concerns over climate change, India’s National Electricity Plan estimates a surge in domestic coal consumption and production in the coming years.
