Multi Energy Systems Market Segmentation:
Fuel Type Segment Analysis
The renewables segment is estimated to hold 30% share of the global multi energy systems market in the coming years owing to the growing prices of fossil fuels. High coal and fossil gas prices have deteriorated the competitiveness of fossil fuels and made renewable fuels even more attractive for consumers and businesses. Besides this, owing to high prices governments of several regions can invest more in renewable fuels which is also helping in reducing the reliance on imports of fossil fuels.
Component Segment Analysis
Multi energy systems market from the PV panels segment is set to garner a notable share of 23% shortly. Photovoltaic (PV) panels convert solar radiation directly into electricity, which can then be used in multi energy systems to generate electricity and store it for usage during periods of high demand or other unforeseen circumstances.
More than 250 TWh of electricity was produced by solar PV in 2022, up by over 25% as compared to 2021.
Application Segment Analysis
The industrial segment is set to garner a significant share during the forecast timeframe. Multi-energy systems (MESs), which integrate different energy systems such as electricity, natural gas, and district heating networks help industries to improve the efficiency of conventional energy systems, reduce air pollution, and enhance energy resilience. Besides this, multi energy systems provide power backup sources to the industrial settings to avoid disruptions caused by sudden power outages.
Our in-depth analysis of the global market includes the following segments:
|
Component |
|
|
Application |
|
|
Fuel Type |
|
|
Energy Type |
|
