The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

The global market for Portable Generators is projected to reach US$2.8 billion by 2025, driven by the growing economic value of power quality and reliability against the backdrop of electrification, digitalization and automation all of which are reliant on power quantity, quality, and availability. Consumers, businesses and society in general are hugely reliant on electricity so much so that a country’s economic health depends upon electricity reliability. With electricity being the feedstock for the digital economy, power outages have devastating impact on companies and the economy.  With the frequency and severity of power outages growing at an alarming rate the world over due to aging energy infrastructure and electricity networks, there is strong need for uninterrupted and reliable power supply for flawless functioning of modern digital equipment omnipresent in virtually every industry including residential/consumer, enterprise IT, industrial, commercial, telecom and datacenter environments. The world’s energy infrastructure is aging. Built during the beginning of the industrial revolution power generation utilities and distribution and transmission networks are aging especially in developed economies such as the United States and countries in Europe. In the U.S particularly, over 80% of power transmission lines and transformers are over 28 years old, highlighting creaking infrastructure as the biggest threat to stable and reliable energy supply. Similarly in Australia over 35% of coal fired power plants are aged over 45 years. Evidence of the crumbling infrastructure can be found in power transmission losses; grid breakdowns; rolling blackouts; inability to meet rising energy demand; and in the inability of aging infrastructure to withstand increasingly hostile weather conditions such as  hurricanes, flooding, sea level rise and wildfires, among others. Under this scenario, addressing power-quality and electricity-reliability issues is a key concern of governments and is also the priority for industries to ensure optimum paybacks on their capital investments. Read More…