Wholesale electricity prices in the European Union (EU) increased in 2024 after recovering from the global energy crisis in 2023. This was the result of a myriad of factors, including increased demand in the “post-pandemic” economic recovery, a rise in natural gas and coal prices, and a decline in renewable power generation due to low wind speeds and drought. Nuclear power's critical role In 2023, nuclear and wind were among the leading sources of electricity generation in the EU, accounting for more than one-third of the output. Nuclear energy continues to play a crucial role in the European Union's electricity mix, generating approximately 619 terawatt-hours in 2023, which accounted for about 20 percent of the region's power production. However, the future of nuclear power in Europe is uncertain, with some countries like Germany phasing out their nuclear plants while others maintain their reliance on this energy source. The varied approaches to nuclear power across EU member states contribute to the differences in electricity prices and supply stability throughout the region.

Renewable energy's growing impact As Europe strives to decarbonize its energy sector, renewable sources are gaining prominence. Wind power in Europe, in particular, has seen significant growth, with installed capacity in Europe reaching 257.1 gigawatt hours in 2023. This expansion of renewable energy infrastructure is gradually reshaping the electricity market, potentially leading to more stable prices in the long term. However, the intermittent nature of some renewable sources, such as wind and solar, can still contribute to price fluctuations, especially during periods of low output.

According to Cognitive Market Research, the global Wave Tidal Energy market size will be USD 1618.24 million in 2025. It will expand at a compound annual growth rate (CAGR) of 33.20% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 598.75 million in 2025 and will grow at a compound annual growth rate (CAGR) of 31.3% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 469.29 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 388.38 million in 2025 and will grow at a compound annual growth rate (CAGR) of 36.6% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 61.49 million in 2025 and will grow at a compound annual growth rate (CAGR) of 34.1% from 2025 to 2033.
The Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 64.73 million in 2025 and will grow at a compound annual growth rate (CAGR) of 34.8% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 35.60 million in 2025 and will grow at a compound annual growth rate (CAGR) of 33.6% from 2025 to 2033.
Wave Power Plants category is the fastest growing segment of the Wave Tidal Energy industry

Market Dynamics of Wave Tidal Energy Market

Key Drivers for Wave Tidal Energy Market

Increasing Demand for Clean Energy to Boost Market Growth

The use of renewable energy sources can help to reduce dependence on fossil fuels and environmental issues. CO2 emissions and local repercussions such as air pollution are two inextricably linked drivers of environmental degradation. Using fossil fuels, which have a negative impact on global warming, results in this form of energy generation. The unequal distribution of rich fossil fuels around the globe has the potential to cause wars. To ensure political stability and sovereignty, the majority of countries are seeking to lessen their reliance on other countries. Around the world, there is an urgent need to replace fossil fuels such as gas, oil, and coal with more sustainable alternatives. As fossil fuels dwindle and environmental concerns grow, the renewable sector is gaining traction due to technological advancements, development priorities, and other considerations. Wind and solar power, two types of renewable energy, have been widely deployed, but they suffer constraints due to land availability, supply mismatches, and enormous amounts of untapped potential. Furthermore, targeted support for this industry would assist in putting the Green Transition into action while also opening up major export opportunities in fields where the UK is now a global leader. For example, the International Energy Agency (IEA) forecasts that robust economic growth and continuous electrification in underserved areas will fuel the fastest rate of energy demand in 2024 and 2025.

https://www.iea.org/reports/electricity-2025

Growing Wave and Tidal Energy Integration in the Grid To Boost Market Growth

The dependability and predictability of wave and tidal energy systems rise with their increased integration with current electrical grids. Modern grid integration technologies make it easier to incorporate variable energy sources like tides and waves into the grid, which lowers intermittency problems and guarantees a steady supply of electricity. During periods of high production, extra energy produced by wave and tidal systems can be captured and stored using energy storage technologies like batteries and pumped hydro storage. The overall effectiveness and dependability of wave and tidal energy systems are improved by using this stored energy during periods of low production or high demand.

Restraint Factor for the Wave Tidal Energy Market

High Initial Capital Costs Will Limit Market Growth

The increasing number of socioeconomic, security, and environmental constraints are predicted to act as market restraints on the growth of wave and tidal energy in the timeframes listed above. Constraints on rising electricity consumption, which will be a major impediment to the market's development Wave and tidal energy production is projected to face considerable hurdles in the coming years due to high capital and production costs. In the wave...

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Residential Backup Power Market Size 2024-2028

The residential backup power market size is forecast to increase by USD 4.11 billion at a CAGR of 6.66% between 2023 and 2028.

The market is experiencing significant growth due to various trends and challenges. One key trend is the increasing adoption of renewable energy sources, such as solar PV and wind, for backup power. Solar panels and solar batteries are becoming increasingly popular as they provide a clean and sustainable solution for power backup. Additionally, the integration of smart energy technologies, such as inverters and lithium batteries, is enabling more efficient and effective energy storage and management. Another trend is the growing preference for cleaner and quieter backup power solutions, leading to the rising adoption of fuel cells. This shift is driven by stringent environmental regulations against traditional diesel generators and their negative impact on the environment.
The market is also witnessing the emergence of advanced technologies, such as smart inverters and hybrid systems, which combine solar panels, batteries, and fuel cells to provide a more reliable and cost-effective backup power solution. Overall, the market is poised for significant growth as more homeowners seek reliable and sustainable backup power solutions to ensure uninterrupted power supply and reduce their carbon footprint.

What will be the Size of the Residential Backup Power Market During the Forecast Period?

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The market is experiencing significant growth as homeowners seek dependable power solutions In the face of increasing power outages and the push towards sustainable living. This market encompasses a diverse range of offerings, from traditional generators to advanced, decentralized renewable energy systems. Key players in this sector boast a proven track record and expertise in delivering uninterrupted power through interconnected infrastructures and technological integration. Generators, both portable and standby, continue to dominate the market, offering reliable power during emergencies. However, the market is undergoing a transformative phase as solar and wind energy systems gain popularity. Solar panels, harnessing the power of the photovoltaic effect, are increasingly being adopted for residential backup power.
The integration of renewable energy sources, such as silicon cell wafers and wind turbines, into backup power systems is a growing trend. Emergency services and uninterrupted power are top priorities for homeowners, leading to the expansion of depot networks and transport fleets to ensure quick and efficient installation and maintenance of backup power systems. Regulation standardization and cybersecurity are also crucial considerations in this market, ensuring the continuous availability and environmental impact of these systems are minimized. Overall, the market is poised for continued growth as homeowners seek sustainable, reliable, and technologically advanced solutions for their energy needs.

How is this Residential Backup Power Industry segmented and which is the largest segment?

The residential backup power industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Technology

  Generators
  Batteries
  Fuel cells


Geography

  APAC

    China
    Japan


  North America

    US


  Europe

    Germany
    UK


  Middle East and Africa



  South America

By Technology Insights

The generators segment is estimated to witness significant growth during the forecast period. Generators serve as essential backup power sources during utility power disruptions, primarily relying on the combustion of fuel sources to convert mechanical energy into electrical energy. Diesel, propane, and gasoline are common fuel sources, with diesel and natural gas being the most widely used. However, the environmental concerns linked to diesel generators, including high greenhouse gas emissions, have resulted in a shift towards natural gas generators. The accessibility and cleaner burn of natural gas make it an increasingly popular fuel choice. Egensys, based In the East Midlands and Yorkshire regions, is a leading provider of backup power solutions, boasting a depot network, transport fleet, and fleet of modern generators.

Their expertise encompasses a diverse selection of top-tier products, including hybrid units, and they offer efficient and visionary solutions tailored to multifaceted demands. Supplementary ancillary products, such as lithium-ion batteries, are also available, ensuring continuous availability and grid compatibility. As the energy landscape evolves, Egensys remains committed to sustainable practices and a resilient energy future.

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The electricity supply in Mexico experienced a Consumer Price Index (CPI) change of 5.35 percent in July 2024, when compared with the same month of the previous year. By comparison, the gas inflation rate in Mexico was negative.

As per Cognitive Market Research's latest published report, the Global Power Plant market size was $1,523.64 Billion in 2022 and it is forecasted to reach $1,924.34 Billion by 2030. Power Plant Industry's Compound Annual Growth Rate will be 3.5% from 2023 to 2030. Factors Impacting on Power Plant Market

Rising industrialization and urbanization boost the demand for the Power plant market

The global power plant market is primarily driven by the growing demand for electricity due to the rapid pace of industrialization and urbanization in developing countries. Additionally, the increasing global population, along with the rising adoption of electric vehicles, is also fueling the demand for power plants. The shift towards cleaner sources of energy such as renewables, along with the increasing concerns over carbon emissions and climate change, is also driving the demand for renewable energy-based power plants. Government initiatives and incentives to promote the adoption of renewable energy sources are further boosting the growth of the global power plant market.

High capital costs and environmental concerns act as a restraint on the Power plant market

The construction and operation of power plants require significant capital investments. The high capital costs can be a significant barrier to entry for new players in the market, and can also impact the profitability of existing players. Traditional power generation technologies such as coal and oil-fired power plants are associated with negative environmental impacts such as greenhouse gas emissions, air pollution, and water contamination. The increasing concerns over environmental degradation are pushing governments and regulators to impose stringent environmental regulations, which can increase the cost of compliance and impact the profitability of power plant operators.

The rising adoption of renewable energy will drive the Power plant market growth

The global shift towards cleaner and more sustainable sources of energy such as solar, wind, and hydropower presents a significant growth opportunity for the power plant market. The increasing adoption of renewable energy sources can drive the demand for new power plants and provide opportunities for existing players to transition toward cleaner energy sources. What is a Power Plant?

A power plant is a facility that generates electricity by converting a form of energy into electrical energy. Power plants can use various sources of energy such as fossil fuels (coal, natural gas, oil), nuclear, and renewable energy sources (solar, wind, hydro, geothermal, biomass) to produce electricity. The type of energy source used by a power plant determines the technology used to generate electricity.

According to Cognitive Market Research, the global Fuel Ethanol market size will be USD 88515.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 35405.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 26554.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 20358.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4425.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1770.31 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The Synthetic held the highest Fuel Ethanol market revenue share in 2024.

Market Dynamics of Fuel Ethanol Market

Key Drivers for Fuel Ethanol Market

Renewable Energy Goals to Increase the Demand Globally

Governments globally are championing renewable energy to cut greenhouse gas emissions and tackle climate change. Ethanol, a biofuel made from agricultural crops, supports these objectives by providing a cleaner alternative to fossil fuels. Many countries implement mandates or incentives to boost ethanol use, recognizing its role in reducing carbon footprints and enhancing energy sustainability. These policies aim to foster a shift towards greener energy sources, helping mitigate environmental impact and promote long-term ecological balance. Through such initiatives, ethanol becomes a key player in advancing global renewable energy goals.

Energy Security to Propel Market Growth

Reducing reliance on fossil fuels strengthens energy security by diversifying fuel sources and minimizing dependence on imported oil. Ethanol production plays a crucial role in this strategy by providing a renewable, domestically sourced alternative. By integrating ethanol into the energy mix, countries can decrease their vulnerability to volatile oil markets and geopolitical uncertainties. This shift not only promotes stability in energy supply but also supports local economies through agricultural and industrial investments. Enhanced energy security through ethanol contributes to a more resilient and self-sufficient energy infrastructure, ensuring a stable and sustainable energy future.

Restraint Factor for the Fuel Ethanol Market

Food vs. Fuel Debate to Limit the Sales

The food versus fuel debate centers on concerns that dedicating agricultural land to ethanol production may impact food security and drive up food prices. As land and crops are diverted from food production to biofuel use, it raises fears of reduced food supply and higher costs for consumers. This tension can constrain the growth of ethanol production, as policymakers balance the benefits of renewable energy against potential negative effects on food availability. Addressing these concerns requires innovative solutions to optimize land use and enhance crop yields, ensuring that both energy and food needs are met sustainably.

Impact of Covid-19 on the Fuel Ethanol Market

The COVID-19 pandemic significantly impacted the fuel ethanol market, causing a sharp decline in demand due to reduced transportation activity and economic slowdowns. Lockdowns and travel restrictions led to lower gasoline consumption, which in turn reduced the need for ethanol blending. Additionally, disruptions in supply chains and decreased agricultural output affected production levels. The market faced financial strain from lower ethanol prices and reduced profitability. However, as economies began to recover and transportation demand increased, the market started to rebound, with renewed emphasis on renewable energy and policy support aiding in its recovery and growth. Introduction of the Fuel Ethanol Market

The fuel ethanol market involves the production and distribution of ethanol, a biofuel derived from crops like corn and sugarcane, used to blend with gasoline. This market aims to reduce greenhouse gas emissi...

On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

This statistic gives the year-on-year percentage change in global LED market growth from 2007 through to 2015. The market for light-emitting diodes increased by approximately 19 percent in 2013, compared with the previous year. In 2015, the LED reported its first negative growth in recent years. The global market share of the lighting industry can be found here.

LED lighting market – additional information Light emitting diodes (LEDs) only use one fifth of the electricity required by a comparable incandescent light. LEDs are currently one of the most energy-efficient light sources in the world. As end users recognize the potential cost savings of the energy-efficient source, conventional bulbs have started to be phased out and LEDs have continued their march to the top of the market. The global LED market penetration, which is forecast to reach 60 percent by 2020, is expected to drive growth in LED lighting sales throughout the next decade.

Global market for LED lighting in 2015 can be broken down by segment. General lighting amounted to about 40 percent market share, with large display backlighting coming in second at nearly 20 percent, followed by automotive uses in third. Although the global LED market size is projected to grow in the long run to reach a peak of 36 billion U.S. dollar in 2018, the LED market growth has seen a lesser growth trend trend since 2012 and reported its first negative growth in 2015. The growth trajectory for LED lighting demand has been steadier in the past few years, which pointed to the market shift in both general lighting and backlighting, whose applications appeared to have reached saturation. The trend in general lighting annual market growth is forecasted to be sustained, dropping to 15 percent from 2016 to 2020. The backlighting market is anticipated to shrink further, falling to a negative 13 percent market growth during the same period.

In the second quarter of 2022, the average retail price for a gallon of regular gasoline stood at around 4.49 U.S. dollars, up from the previous quarter. A glut in oil supply between 2014 and 2016 forced down prices and led to a low average U.S. gasoline price of roughly 1.9 U.S. dollars per gallon in the first quarter. Gasoline prices fluctuated considerably between 2019 and 2020 as a result of tensions between the United States and other oil exporters, such as Iran, and stifling oil demand during the Covid-19 pandemic. The price of West Texas Intermediate briefly dipped in the negative in April 2020. Seasonal price variations
There are periodic fluctuations in gasoline prices in the United States, where the second and third quarters are typically more expensive than the rest of the year. One of the factors contributing to changing gasoline prices is a decrease in production from refineries due to maintenance work in tandem with an increase in demand, as holiday goers make road-trips. Gasoline will revert to cheaper winter-grade in September. Annual motor vehicle consumption in the United States was around 128 billion gallons as of 2020.