The global energy management systems market will be driven by the growing demand for energy in energy-intensive industries during the forecast period 2022-2027

Expert Market Research’s new report titled “Global Power Management System Market Report and Forecast 2022-2027′, gives an in-depth analysis of the global power management systems market, assessing the market based on its segments such as end-users and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

• Historical market size (2021): 2.3 billion USD
• Forecast CAGR (2022-2027): 7.06%
• Forecasted market size (2027): 3.5 billion USD

With the increasing complexity of electrical systems and the increasing demand for energy in energy-intensive industries, energy management systems are gaining popularity over the forecast period. Growing demand for efficient energy management systems in the oil, gas and automotive industry among others to achieve energy savings is expected to be a major driving factor in the market. Growing investments in smart grid technology to enhance communication systems and optimize energy resources are expected to be a propelling factor in the market. Geographically, North America accounts for a large share of the market owing to the advanced electrical distribution system in the United States of America and Canada.

Industry definition and major segments

Energy management system is defined as a system that manages the distribution, cost, and security of energy in various energy-intensive industries. The power management system can prevent failures and disturbances during electrical operation. It is extremely important in cases where the power consumption is greater than the power generation capacity.

On the basis of end user, the market can be segmented into:

• Utilities
• Data centers
• Oil and gas
• Sailor
• Others

Regional energy management system markets include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Read the full report with table of contents: https://bit.ly/3QV2bn4

Market trends

Major trends in the energy management systems market include growing awareness of environmental degradation and sustainable development goals and stringent government legislations aimed at optimizing energy management. The integration of human-machine interface (HMI) to enable users to communicate with generators is helping the market grow. Additionally, technological advancements in the marine industry are likely to propel the demand for energy management systems to make the environment safe and efficient. Some other developments in the market include the growing demand for power management systems in the automotive industry. In January 2022, Nissan announced that the company had started testing the energy management system to focus on carbon neutrality.

Main market players

The major market players are ABB Ltd, ComAp AS, RH Marine Netherlands BV, Wärtsilä Corporation, and Marine Control Service AS, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

Alan A. Seibert