The global energy price index stood at around 101.5 in 2024. Energy prices were on a decreasing trend that year, and forecasts suggest the price index would decrease below 80 by 2026. Price indices show the development of prices for goods or services over time relative to a base year. Commodity prices may be dependent on various factors, from supply and demand to overall economic growth. Electricity prices around the world As with overall fuel prices, electricity costs for end users are dependent on power infrastructure, technology type, domestic production, and governmental levies and taxes. Generally, electricity prices are lower in countries with great coal and gas resources, as those have historically been the main sources for electricity generation. This is one of the reasons why electricity prices are lowest in resource-rich countries such as Iran, Qatar, and Russia. Meanwhile, many European governments that have introduced renewable surcharges to support the deployment of solar and wind power and are at the same time dependent on fossil fuel imports, have the highest household electricity prices. Benchmark oil prices One of the commodities found within the energy market is oil. Oil is the main raw material for all common motor fuels, from gasoline to kerosene. In resource-poor and remote regions such as the United States' states of Alaska and Hawaii, or the European country of Cyprus, it is also one of the largest sources for electricity generation. Benchmark oil prices such as Europe’s Brent, the U.S.' WTI, or the OPEC basket are often used as indicators for the overall energy price development.

In the United States, the cost of electricity generation from natural gas in 2024 recovered from a high of **** U.S. dollars per million British thermal units recorded in 2022. In Q1 2025, the price stood at *** U.S. dollars per million British thermal units.

Forecast: Electricity Trade Labour Cost Per Employee FTE in Italy 2022 - 2026 Discover more data with ReportLinker!

Germany Electricity decreased 33.72 EUR/MWh or 29.14% since the beginning of 2025, according to the latest spot benchmarks offered by sellers to buyers priced in megawatt hour (MWh). This dataset includes a chart with historical data for Germany Electricity Price.

In 2022, the average end-use electricity price in the United States stood at around 12.2 U.S. cents per kilowatt-hour. This figure is projected to decrease in the coming three decades, to reach some 11 U.S. cents per kilowatt-hour by 2050.

Forecast: Electric Power Generation, Transmission and Distribution Labour Cost Per Employee FTE in Germany 2022 - 2026 Discover more data with ReportLinker!

Energy Prices In the Euro Area increased to 143.69 points in June from 143.35 points in May of 2025. This dataset includes a chart with historical data for Euro Area Energy Prices.

Forecast: Electricity Distribution and Control Apparatus Labour Cost Per Employee FTE in France 2022 - 2026 Discover more data with ReportLinker!

The amount of investment in offshore wind power in South Korea is estimated to reach around ** trillion South Korean won by 2027. While the number of offshore wind turbines in South Korea is still limited, the country's geography as a peninsula holds potential for more installations in the future.

Belgium NBB Forecast: HICP: YoY: Energy Inflation data was reported at -2.500 % in 2026. This records a decrease from the previous number of -0.900 % for 2025. Belgium NBB Forecast: HICP: YoY: Energy Inflation data is updated yearly, averaging 4.050 % from Dec 2017 (Median) to 2026, with 10 observations. The data reached an all-time high of 57.900 % in 2022 and a record low of -30.800 % in 2023. Belgium NBB Forecast: HICP: YoY: Energy Inflation data remains active status in CEIC and is reported by National Bank of Belgium. The data is categorized under Global Database’s Belgium – Table BE.I006: Harmonised Index of Consumer Prices: Year on Year Growth: Forecast: National Bank of Belgium.

A eletricidade na Itália diminuiu 24,49 EUR/MWh ou 17,78% desde o início de 2025, de acordo com os últimos benchmarks de mercado oferecidos pelos vendedores aos compradores com preços em megawatt hora (MWh). Esta página inclui um gráfico com dados históricos para o Preço da Eletricidade na Itália.

Forecast: Electrical Equipment Repair Labour Cost Per Employee FTE in Italy 2022 - 2026 Discover more data with ReportLinker!

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The energy storage market share is expected to increase by 50013.15-megawatt units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 61.52%.

This energy storage market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers energy storage market segmentation by the following:

Type - Utility-scale and behind the meter
Geography - APAC, North America, Europe, MEA, and South America

The energy storage market report also offers information on several market vendors, including ABB Ltd., Amsted Industries Inc., EVAPCO Inc., General Electric Co., GS Yuasa Corp., Ingersoll Rand Inc., LG Electronics Inc., Panasonic Corp., Samsung SDI Co. Ltd., and Tesla Inc. among others.

What will the Energy Storage Market Size be During the Forecast Period?

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Which are the Key Regions for Energy Storage Market?

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58% of the market’s growth will originate from APAC during the forecast period. China and South Korea (Republic of Korea) are the key markets for energy storage in APAC. Market growth in this region will be faster than the growth of the market in North America and Europe.

The significant increase in the demand for energy due to the rapid growth in population and improvements in the standard of living will facilitate the energy storage market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 led to a disrupted supply chain and the delay in new capacity installations, which hindered the growth of the regional market. However, in the first half of 2021, the resumption of operations in manufacturing hubs with the lifting of lockdown measures and the increased preference for sustainable power sources proliferated the growth of the regional market. Such factors are expected to fuel the regional market's growth during the forecast period.

What are the Revenue-generating Type Segments in the Energy Storage Market?

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The energy storage market share growth by the utility-scale segment will be significant during the forecast period. The growth of renewable energy generation and distribution will drive the growth of the segment owing to their role in integrating a greater share of variable renewable energy (VRE) in the system by providing the flexibility needed during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the energy storage market size and actionable market insights on post COVID-19 impact on each segment.

Energy Storage Market: Key Drivers, Trends, and Challenges

The growing energy storage requirement is notably driving the energy storage market growth, although factors such as high upfront costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the energy storage industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Energy Storage Market Driver

One of the key factors driving the global energy storage market growth is the growing energy storage requirement as companies incur heavy losses if there is a power outage for even a minute. For critical operations such as hospitals and nursing facilities, power outages can put lives at risk. Similarly, if a large manufacturing plant has to suspend operations due to revenue losses from outages, they would be millions as product deliveries get delayed. For example, on November 1, 2012, Hurricane Sandy decimated most areas on the east coast of the US, and millions of people had no electricity supply. The hurricane caused billions of dollars in losses to businesses and properties. Thus, power backup is imperative to run operations smoothly in every sector. Therefore, the greater need for energy storage will strongly support the growth of the global energy storage market during the forecast period.

Key Energy Storage Market Challenge

One of the key challenges to the global energy storage market growth is the high upfront costs for subsystem components, installation, and integration. High costs increase cost competitiveness with non-storage options for electric utilities. For instance, despit

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The Offshore Wind Turbine Market is poised to grow by 54975 MT during 2022-2026, accelerating at a CAGR of 24% during the forecast period

Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. Furthermore, this report extensively covers offshore wind turbine market segmentation by geography (EMEA, APAC, and Americas) and substructures (monopiles, gravity foundation, and others). The market report also offers information on several market vendors, including Eaton Corporation Plc, ENERCON GmbH, General Electric Co., Hitachi Ltd., Nordex SE, Senvion SA, Siemens AG, Suzlon Energy Ltd., Vestas Wind System AS, and Xinjiang Goldwind Science & Technology Co. Ltd. among others.

What will the Offshore Wind Turbine Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the report belonging to Electrical Equipment Industry for the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.

Offshore Wind Turbine Market: Key Drivers, Trends, and Challenges

Technavio Research categorizes the global Offshore Wind Turbine Market belonging to the Capital Goods Industry. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.

Key Offshore Wind Turbine Market Driver

The decline in LCOE for wind power generation is one of the major drivers impacting the offshore wind turbine market growth. 
Technological advances such as larger swept areas and higher hub height, along with the decline in the total installation costs, have encouraged the growth of wind power worldwide.
The fall in wind turbine cost, low operation and maintenance cost, low cost of financing, and rising turbine supplies are contributing to the decline in the levelized cost of electricity (LCOE).
The UK is a pioneer in wind power generation, where the cost of producing electricity from onshore wind turbines has declined dramatically due to innovative designs; the cost of producing electricity using wind energy in the country is now cheaper than that using fossil fuels. A decline in LCOE in wind power generation is expected to boost wind turbine installation worldwide, thereby propelling the global offshore wind turbine market.

Key Offshore Wind Turbine Market Trend

R&D in direct drive generators is one of the major trends influencing the offshore wind turbine market growth. In a typical onshore wind turbine, a low rotational speed of around 14 rpm is converted into a high rotational speed of 560-1,500 rpm. However, the wind turbine industry is currently experimenting with direct drive generators.
Direct train technology offers various advantages when compared with conventional turbines; for example, direct-drive generators will eliminate the need for a gearbox, and thus the turbine will involve fewer moving parts than geared drive trains. In the absence of gearboxes, direct-drive wind turbines run with the help of a rotor and a generator that rotate as an integrated unit.
With no mechanism to step up the rotational speed, the size of the generator increases considerably. Moreover, with no gearbox present, direct drive wind turbines are lighter in weight.
Many companies such as Siemens and GE are already experimenting with direct drive turbines, especially in offshore wind farms. As they require low maintenance, these systems are considered the future of offshore wind turbines. During the forecast period, these turbines are expected to undergo more R&D, which will also be influenced by the expected increase in offshore wind capacity.

Key Offshore Wind Turbine Market Challenge

The high failure rate of wind turbine components is one of the major challenges impeding the offshore wind turbine market growth. 
The reliability of turbines

According to the European Commission's autumn 2024 Economic Forecast, inflation reached 1.1 percent in 2024. However, it is expected to increase to 1.9 percent in 2025 and 1.7 percent in 2026. Changes in consumption In 2022, inflation recorded a decisive increase due to a global energy crisis. In particular, electricity prices were almost 200 percent higher compared to 2021, and this consequently caused higher costs for producers and for final consumers. Therefore, Italian citizens had to confront themselves with higher prices and the risk that their purchasing power would have been eroded by the inflation. Therefore, they changed consumption habits. In fact, more than half of the consumers stopped buying unnecessary products and limited food waste.

Hong Kong Data Center Power Market size was valued at USD 400 Million in 2024 and is expected to reach USD 768.24 Million by 2032, growing at a CAGR of 8.5% from 2026-2032.

Hong Kong Data Center Power Market Drivers

Growth of Data Centers: The increasing number of data centers in Hong Kong, driven by factors like cloud computing, big data, and the Internet of Things (IoT), is a primary driver. Data centers require significant power to operate.

Demand for High Power Density: Modern data centers are packing more computing power into smaller spaces, leading to increased power density. This necessitates more robust and efficient power infrastructure.

Need for Reliability and Redundancy: Data centers must operate continuously, so a reliable and redundant power supply is crucial. This drives investment in backup power systems, such as UPS (Uninterruptible Power Supply) and generators.

Adoption of Advanced Technologies: The adoption of power-hungry technologies like AI and machine learning is increasing the power demands of data centers.

Focus on Energy Efficiency: Rising electricity costs and environmental concerns are pushing data center operators to adopt energy-efficient power solutions.

Italy Solar Energy Market size was valued at USD 32.56 Billion in 2024 and is projected to reach USD 80.64 Billion by 2032, growing at a CAGR of 12.0% from 2026 to 2032.Key Market Drivers Government Incentives and Support Programs: Government financial incentives and regulatory support mechanisms have been a key driver for Italy's solar energy market, stimulating private investments across residential, commercial, and utility-scale segments. The Superbonus 110% program and other tax deduction schemes have significantly reduced upfront costs for installations. The National Recovery and Resilience Plan allocated USD 5.9 Billion for renewable energy development, with approximately USD 2.2 Billion specifically earmarked for solar PV projects between 2021-2026.Rising Electricity Prices and Energy Security Concerns: Escalating conventional energy costs and heightened concerns about energy security, particularly following the European energy crisis, have accelerated the transition to solar power in Italy. Solar energy has become increasingly competitive against fossil fuels as an economically advantageous alternative. Italian residential electricity prices increased by approximately 59% between January 2021 and December 2022, according to ARERA data, making solar self-consumption more financially attractive.

Forecast: Non Electric Domestic Appliances Labour Cost Per Employee FTE in France 2022 - 2026 Discover more data with ReportLinker!

The growing demand for wind energy in Spain is mostly driven by the country's commitment to decarbonization and conformity with European Union climate goals. Spain's National Energy and Climate Plan (NECP) has high targets for renewable energy integration, accelerating the development of wind power infrastructure. This legal structure, together with the falling costs of wind energy technologies, makes it a highly competitive and appealing energy source. The market size surpass USD 32.8 Billion valued in 2024 to reach a valuation of around USD 53.1 Billion by 2032.Spain's favorable wind resources, both onshore and increasingly offshore, provide a solid platform for long-term growth in the sector. The need for energy independence, combined with rising electricity rates and increased environmental consciousness, fuels the transition toward renewable energy sources. This mix of favorable government policies, technical developments, and rich natural resources is driving Spain's wind energy market to new heights. The rising demand for cost-effective and efficient Spain Wind Energy is enabling the market grow at a CAGR of 6% from 2025 to 2032.

Data Center Energy Management Solutions Market size was valued at USD 11.31 Billion in 2024 and is projected to reach USD 20.47 Billion by 2032, growing at a CAGR of 7.7% during the forecast period 2026 to 2032. Global Data Center Energy Management Solutions Market Drivers:The market drivers for the data center energy management solutions market can be influenced by various factors. These may include:Rising Energy Costs: Increasing electricity use by data centers is driven by rising global energy prices and growing demand for high-performance computing. According to the U.S. Department of Energy, data centers consumed 176 TWh in 2023, and up to 12% of U.S. electricity could be used by 2028.Increasing Data Center Power Consumption: Power demand inside data centers grows rapidly due to digital expansion. Energy usage gets optimized through advanced management technologies.