The global quantum computing in energy and utility market size accounted for USD 15.42 billion in 2024 and is predicted to increase from USD 16.10 billion in 2025 to approximately USD 23.72 billion by 2034, expanding at a CAGR of 4.40% from 2025 to 2034. The market is witnessing rapid growth due to higher demand for developing renewable energy technologies and improving energy distribution, along with the requirement for faster and more efficient solutions for complex problems, specifically in optimizing power grids. By addressing all these concerns, this technology leads to significant cost savings, enhanced reliability, and improved environmental performance in the energy sector.
Discover insights into the energy and materials transition market, including drivers, challenges, and emerging opportunities in clean energy and materials. The market growth is attributed to increasing government regulations on carbon emissions, rising investments in renewable energy infrastructure, and technological advancements in energy storage and smart grid systems.
The global steam turbine aftermarket size accounted for USD 4.18 billion in 2024 and is predicted to increase from USD 4.36 billion in 2025 to approximately USD 6.61 billion by 2034, expanding at a CAGR of 4.69% from 2025 to 2034. The market growth is attributed to the increasing demand for energy-efficient solutions and the rising adoption of advanced steam turbine technologies across various industries.
The global water electrolysis market size was calculated at USD 6.72 billion in 2024 and is predicted to increase from USD 7.25 billion in 2025 to approximately USD 14.40 billion by 2034, expanding at a CAGR of 7.92% from 2025 to 2034. The market growth is attributed to increasing adoption of green hydrogen across industrial, transportation, and energy sectors as countries pursue decarbonization goals.
The global environmental remediation market size was estimated at USD 124.04 billion in 2024 and is predicted to increase from USD 142.17 billion in 2025 to approximately USD 485.47 billion by 2034, expanding at a CAGR of 14.62% from 2025 to 2034. The growth of the market is driven by the increasing concerns about pollution and stringent government regulations regarding environmental protection.
The global indoor air quality monitoring system market size accounted for USD 7.95 billion in 2024 and is predicted to increase from USD 8.67 billion in 2025 to approximately USD 18.89 billion by 2034, expanding at a CAGR of 9.04% from 2025 to 2034. Public awareness of the benefits of indoor air quality monitoring systems is increasing, along with a heightened focus on improving indoor air quality, stricter government regulations for pollution control, rising urbanization, a growing population, and rapid technological advancements in indoor air quality monitoring systems.
The global high voltage cables and accessories market size accounted for USD 39.16 billion in 2024 and is predicted to increase from USD 42.03 billion in 2025 to approximately USD 79.37 billion by 2034, expanding at a CAGR of 7.32% from 2025 to 2034. The market is expanding at a significant rate owing to the increasing demand for rising global energy demand, expanding renewable energy infrastructure, grid modernization projects, and increasing urbanization and industrialization. Therefore, the market contributes to improved cable performance by transmitting electricity at high voltages and protecting high-voltage cables.
The global medium voltage cables market size accounted for USD 41.98 billion in 2024 and is predicted to increase from USD 45.28 billion in 2025 to approximately USD 89.38 billion by 2034, expanding at a CAGR of 7.85% from 2025 to 2034. The market is expanding at a significant rate owing to the increasing demand for renewable energy generation, industrialization, urbanization, and the requirement for reliable power infrastructure.
The global coal to liquid market size was calculated at USD 4.45 billion in 2024 and is predicted to increase from USD 4.84 billion in 2025 to approximately USD 10.28 billion by 2034, expanding at a CAGR of 8.74% from 2025 to 2034. The market growth is attributed to increasing energy security concerns and rising demand for alternative fuels in industrial and transportation sectors.
The global alkaline water electrolysis market size accounted for USD 168.06 million in 2024 and is predicted to increase from USD 201.05 million in 2025 to approximately USD 1,008.92 million by 2034, expanding at a CAGR of 19.63% from 2025 to 2034. The demand for green hydrogen in various industries is driving the global market. The market is further witnessing a spectacular range with government support in advancements in hydrogen technologies and infrastructure developments.
The global surge protection device market size was calculated at USD 3.34 billion in 2024 and is predicted to increase from USD 3.57 billion in 2025 to approximately USD 6.48 billion by 2034, expanding at a CAGR of 6.84% from 2025 to 2034. The key factor driving market growth is the growing demand for surge protection devices to safeguard electrical gadgets. Also, increasing demand for smart power strips, coupled with the ongoing advancements in smart homes across the globe, can fuel market growth soon.
The global direct methanol fuel cell market size was estimated at USD 327.54 million in 2024 and is predicted to increase from USD 364.85 million in 2025 to approximately USD 963.22 million by 2034, expanding at a CAGR of 11.39% from 2025 to 2034. The market growth is attributed to the increasing demand for clean and efficient energy solutions across various applications, including transportation, portable devices, and off-grid power systems.
The global fault current limiter market size accounted for USD 5.54 billion in 2024 and is predicted to increase from USD 5.91 billion in 2025 to approximately USD 10.49 billion by 2034, expanding at a CAGR of 6.59% from 2025 to 2034. Increasing the use of superconducting fault current limiters (SFCLs) is the key factor driving the growth of the market. Also, technological advancements in superconducting materials coupled with the growing focus on grid modernization can fuel market growth further.
The global medium voltage switchgear market size accounted for USD 42.93 billion in 2024 and is predicted to increase from USD 46.21 billion in 2025 to approximately USD 89.72 billion by 2034, expanding at a CAGR of 7.65% from 2025 to 2034. The market is growing because of rising electricity requirements, modernization trends, and the adoption of intelligent distribution systems for secure power delivery.
The nuclear fusion and fission reactor market is expanding, fueled by technological innovations and growing demand for sustainable energy solutions worldwide. The demand for low-carbon energy is driving the market. Developments in material science, bringing innovative approaches to nuclear fusion and fission reactors. Rapid improvements in magnetic confinement systems, fuel market expansion.
The global industrial electrification market size was estimated at USD 43.95 billion in 2024 and is predicted to increase from USD 47.55 billion in 2025 to approximately USD 95.79 billion by 2034, expanding at a CAGR of 8.10% from 2025 to 2034. The market growth is attributed to rising industrial automation, stringent decarbonization policies, and increasing adoption of energy-efficient electrification technologies.
The global microgrid controller software market size accounted for USD 4.09 billion in 2024 and is predicted to increase from USD 5.06 billion in 2025 to approximately USD 33.90 billion by 2034, expanding at a CAGR of 23.55% from 2025 to 2034. The increasing use of renewable energy, the need for effective energy management, and the emphasis on grid reliability are propelling the expansion of the microgrid controller software industry. Advanced technologies such as AI-driven controllers improve sustainability and optimize energy use even more.
The global power strip market size accounted for USD 12.69 billion in 2024 and is predicted to increase from USD 13.43 billion in 2025 to approximately USD 22.30 billion by 2034, expanding at a CAGR of 5.80% from 2025 to 2034. The rising adoption of smart electronics devices, surging demand for a stable power supply, focus on workplace digitization, and increasing improvements in power strip technology are expected to drive the growth of the power strip market throughout the projected period.
The global power device analyzer market size was estimated at USD 529.25 million in 2024 and is predicted to increase from USD 557.94 million in 2025 to approximately USD 897.20 million by 2034, expanding at a CAGR of 5.42% from 2025 to 2034. The increase in production and adoption of consumer electronics majorly drives the growth of the power device analyzer market.
The global energy-efficient windows market size was estimated at USD 16.34 billion in 2024 and is predicted to increase from USD 17.61 billion in 2025 to approximately USD 34.63 billion by 2034, expanding at a CAGR of 7.80% from 2025 to 2034. The global energy-efficient windows market growth is attributed to the increasing need for resource conservation in both commercial and residential buildings.
The global paper-based biofuel cell market size was estimated at USD 643.00 million in 2024 and is predicted to increase from USD 780.73 million in 2025 to approximately USD 4,478.30 million by 2034, expanding at a CAGR of 21.42% from 2025 to 2034. The demand for sustainable energy solutions has increased, leading to driving the paper-based biofuel cells market. The adoption of advanced paper-based electrode technology shapes the market. The integration of smart sensors and electronic tags to harvest, monitor, and transmit data on various parameters such as temperature, humidity, and pH is surging for cutting-edge availabilities.
The global batteries for stationary energy storage market is experiencing strong growth, driven by eco-friendly innovations, increasing demands, and industry-wide sustainability efforts. The increasing demand for efficient energy storage systems for excessive power generation drives the growth of the market.
The global intelligent pigging service market size accounted for USD 2.51 billion in 2024 and is predicted to increase from USD 2.68 billion in 2025 to approximately USD 4.82 billion by 2034, expanding at a CAGR of 6.75% from 2025 to 2034. The rising automation in industrial applications to improve efficiency in production with time and cost savings boosts the growth of the market.
The global synchrophasors market size was estimated at USD 314.68 million in 2024 and is predicted to increase from USD 379.28 million in 2025 to approximately USD 2,036.20 million by 2034, expanding at a CAGR of 20.53% from 2025 to 2034. The market growth is attributed to the increasing demand for advanced grid technologies, particularly synchrophasors, to ensure grid stability, reliability, and the efficient integration of renewable energy sources.
The global solar panel operation and maintenance market size was calculated at USD 14.51 billion in 2024 and is predicted to reach around USD 32.63 billion by 2034, expanding at a CAGR of 8.44% from 2025 to 2034. The rising adoption of solar energy systems across the globe is the key factor driving the market growth. Also, increasing demand for O&M services coupled with ongoing government initiatives to support solar operations can fuel market growth soon.
The global utility scale PV inverter market size was calculated at USD 13.40 billion in 2024 and is predicted to reach around USD 25.46 billion by 2034, expanding at a CAGR of 6.63% from 2025 to 2034. The market growth is attributed to the increasing adoption of large-scale solar installations and advancements in inverter technology that enhance efficiency and grid integration.
The global utility scale DC microgrid market size accounted for USD 0.97 billion in 2024 and is expected to exceed around USD 5.17 billion by 2034, growing at a CAGR of 18.22% from 2025 to 2034. The utility scale DC microgrid market growth is attributed to the increasing demand for enhanced grid resilience and advancements in renewable energy and storage technologies.
The global post combustion carbon capture and storage market size accounted for USD 5.62 billion in 2024 and is expected to exceed around USD 32.88 billion by 2034, growing at a CAGR of 19.32% from 2025 to 2034. The post combustion carbon capture and storage market is rapidly growing due to increased regulations of carbon emissions, innovation, and expanding investments.
The global utility scale switchgear market size was accounted for USD 17.51 billion in 2024 and is expected to exceed around USD 29.99 billion by 2034, growing at a CAGR of 5.53% from 2025 to 2034. The increasing demand for electricity in the wider range of applications and demand for the efficient power supply and distribution system that boosts the growth of the utility scale switchgear market.
The global solar street lighting market size was worth around USD 2.08 billion in 2024 and is anticipated to reach around USD 7.80 billion by 2034, growing at a CAGR of 14.11% from 2025 to 2034. The demand for energy-efficient solutions has increased, driving the growth of the solar street lighting market. The rising awareness of renewable energy and government initiatives and promotions are significantly fueling the market expansion.
The global commercial ozone generator market size was worth around USD 150.04 million in 2024 and is expected to hit around USD 293.23 million by 2034, growing at a CAGR of 6.93% from 2025 to 2034. Increasing investments towards up-gradation of wastewater treatment facilities is the key factor driving the commercial ozone generator market growth. Also, growing awareness of indoor air quality concerns, along with Ongoing technological advancements, is anticipated to fuel market growth soon.
The global zero liquid discharge systems market size was calculated at 6.69 billion in 2024 and is anticipated to reach around USD 11.46 billion by 2034, growing at a CAGR of 5.53% from 2025 to 2034. The rising demand for wastewater management in industries is driving the growth of the zero liquid discharge systems market.
The global dye sensitized solar cell market size is calculated at USD 161.33 million in 2024 and is expected to exceed USD 512.92 million by 2034, expanding at a CAGR of 12.26% from 2024 to 2034. The increasing demand for aesthetically appealing and advanced solar panels by the commercial and residential sectors is driving the growth of the dye sensitized solar cell market.
The global shore power market size was valued at USD 2.25 billion in 2024 and is anticipated to reach around USD 6.08 billion by 2034, growing at a CAGR of 10.45% from 2025 to 2034. The shore power market is growing rapidly due to strict emission standards, the initiative to reduce harmful emissions from vessels, as well as the introduction of new ports. Ports shift to shore power systems as demand for clean and efficient energy solutions grows and contributes to environmental protection improvements.
The global portable lithium power station market size is calculated at USD 168.75 million in 2024 and is predicted to reach around USD 800.14 million by 2034, expanding at a CAGR of 16.84% from 2024 to 2034. The portable lithium power station market growth is attributed to the increased adoption of portable energy systems for both recreational and emergency use.
The global solar tile market size was estimated at USD 358.58 million in 2024 and is anticipated to reach around USD 687.14 million by 2034, expanding at a CAGR of 6.72% between 2025 and 2034. The solar tile market growth is driven by the increasing demand for sustainable energy solutions and consumer awareness of climate change. The global sector is expanding at a notable compound annual growth rate (CAGR) during the forecast period.
The global power transmission and distribution market size is calculated at USD 344.32 billion in 2024 and is predicted to reach around USD 505.28 billion by 2034, expanding at a CAGR of 3.91% from 2024 to 2034. The demand for the power transmission and distribution market is driven by the rising demand for electricity in urban areas, which has led to rapid investments by companies.
The global oil and gas security market size is calculated at USD 27.94 billion in 2024 and is anticipated to reach around USD 47.82 billion by 2034, expanding at a CAGR of 5.52% between 2024 and 2034. The constant threat of cyber-attacks on oil and gas infrastructure is the key factor driving the oil and gas security market growth. Also, growing production activities in remote locations along with the regulatory compliances imposed by the government can fuel market growth further.
The global hydrogen market size accounted at USD 262.13 billion in 2024 and is projected to reach around USD 556.56 billion by 2034, growing at a CAGR of 7.82% from 2025 to 2034. The hydrogen market is driven by the growing demand for clean energy sources.
The global solar energy market size was calculated at USD 121.99 billion in 2024 and is projected to surpass around USD 389.86 billion by 2034, expanding at a CAGR of 12.32% from 2025 to 2034. The demand for solar is escalated by the initiative to reduce the reliance on fossil fuels. This increases the demand for renewable energy sources which are a clean energy option in recent years.
The global gas turbine air filter market size is calculated at USD 1.84 billion in 2024 and is projected to surpass around USD 3.12 billion by 2034, expanding at a CAGR of 5.41% from 2024 to 2034. The rising demand for clean energy production is a major factor driving the gas turbine air filter market growth. Companies are increasing the adoption of these air filters to reduce dust, moisture, and salt contamination.
The global small hydropower market size accounted for USD 2.26 billion in 2024 and is estimated to surpass around USD 2.99 billion by 2034, growing at a CAGR of 2.82% from 2024 to 2034. The small hydropower market is growing due to increasing demand for clean energy, policies, and technologies, growing focus towards sustainable and renewable power.
The global solar water pump market size is worth around USD 3.88 billion in 2024 and is anticipated to reach around USD 10.26 billion by 2034, growing at a solid CAGR of 10.21% over the forecast period 2024 to 2034. The market growth is attributed to the increasing demand for sustainable and efficient irrigation solutions driven by water scarcity and environmental concerns.
The global power management system market size is worth around USD 6.56 billion in 2024 and is anticipated to reach around USD 12.80 billion by 2034, growing at a CAGR of 6.91% over the forecast period 2024 to 2034. The North America power management system market size reached USD 2.03 billion in 2023. The benefits of power management include preventing shock and to avoid electrical fires, maintaining compliance with standards and regulations for power management, power quality, and carbon emissions, and helping the growth of the market.
The global AI in energy market size was valued at USD 15.45 billion in 2024 and is anticipated to reach around USD 75.53 billion by 2034, growing at a solid CAGR of 17.20% over the forecast period 2025 to 2034. The rising adoption of AI by energy companies, utilities, and grid operators is the key factor driving the AI in energy market growth over the forecast period.
The global train battery market size is worth around USD 296.37 million in 2024 and is anticipated to reach around USD 517.39 million by 2034, growing at a CAGR of 5.73% over the forecast period 2024 to 2034. The North America train battery market size reached USD 112.12 million in 2023. The rising adoption of electrification in the railway industry is the key factor driving the train battery market growth.
The global scrubber system market size is worth around USD 5.80 billion in 2024 and is anticipated to reach around USD 10.32 billion by 2034, growing at a solid CAGR of 5.92% over the forecast period 2024 to 2034. The increasing demand for scrubber systems demonstrates a global commitment to minimizing environmental impact, safeguarding public health, and complying with strict regulatory standards for air quality.
The global offshore support vessel market size is expected to be worth USD 18.68 billion in 2024 and is anticipated to reach around USD 37.16 billion by 2034, growing at a solid CAGR of 7.12% over the forecast period 2024 to 2034. The increasing demand for the offshore support vessels in the oil and gas generation field and other offshore construction activities are driving the growth of the market.
The global nuclear reactor market will increase in the future years as more than countries turn to nuclear power for the generation of electricity. The nuclear reactor market growth is attributable to the development of nuclear power infrastructure.
The global bunker fuel market size is projected to be worth around USD 125.03 billion by 2034 from USD 130.43 billion in 2024, at a CAGR of 4.32% from 2024 to 2034. The bunker fuel market is expected to grow due to growing global shipping, demand for clean fuels, and improvement in the efficiency and effectiveness of bunker fuel, which promote fuel consumption and the market’s growth.
