The analysts forecast global automation solution market in renewable power generation industry to grow at a CAGR of 11.70% during the period 2018-2022. One trend in the market is inception of new business models.
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With the increasing awareness and adaptability of renewable resources for generating power, new business models promising new ways to finance renewable energy are gaining traction.
For instance, the concept of leasing is gaining popularity beyond the solar PV market in the US to Europe, India, China, the Pacific and, most recently, Africa.
Major key players in the global automation solution market in renewable power generation industry: ABB, Emerson, General Electric, Rockwell Automation, Schneider Electric, and Siemens.
According to the automation solution market report, one driver in the market is aggressive policies supporting the growth of renewable power. To minimize the emission of greenhouse gases and reduce the impact of global warming, governments in both developed and developing countries are coming up with various policies, regulatory measures, and protocols that will act as a catalyst to increase the adoption of renewable sources for generating power.
Further, the automation solution market report states that one challenge in the market is cost challenges due to retrofitting. Implementing automation in power plants provides a wide range of advantages.
However, retrofitting automation solutions in conventional devices and machines requires significant investment and effort. This in turn requires a cost-benefit analysis, as companies need to justify investments made toward purchasing new systems.
Key questions answered in this report:
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
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Major Points from Table of Contents:
1: Executive Summary
2: Scope of The Report
3: Research Methodology
4: Market Landscape
5: Market Sizing
6: Five Forces Analysis
7: Market Segmentation By Technology
8: Market Segmentation By Product
9: Customer Landscape
10: Regional Landscape
11: Decision Framework
12: Drivers and Challenges
13: Market Trends
14: Vendor Landscape
15: Vendor Analysis