Rising mining and O&G activities to drive e-house market | 6Wresearch
Increasing offshore oil & gas exploration activities, growing mining sector and large scale investments in the expansion of railways network and infrastructure development are the major factors that would drive the market of e-house across the globe.
According to 6Wresearch, Global E-House Market Volume is projected to grow at a CAGR of 8.5 per cent during 2017-23. Development of smart grids and establishment of nuclear and renewable energy power plants, along with offshore oil & gas exploration and construction of rail freight corridors are anticipated to drive the demand for e-house globally.
According to Ravi Bhandari, Assistant Manager, 6Wresearch, “Globally, oil & gas sector has netted major revenue share in the global market and is projected to dominate in the forecast period as well. Demand for E-Houses in power utilities and renewable energy is expected to escalate with setup of new power plants and expanding grid network worldwide.”
“With rising demand for electricity, connectivity and minerals around the world, respective countries are investing heavily for development of power sector, rail infrastructure and mining industry. Environmental concern has also resulted into heavy flow of investments in renewable energy sector to reduce dependency on conventional power sources, which are expected to drive the E-House market around the world,” he further added.
According to Anuj Sharma, Research Associate, Research and Consulting, 6Wresearch, “Global e-house market globally is dominated by medium voltage segment. The increased investments for infrastructure development in developing regions like Asia Pacific, Africa and South America are going to provide the major push to the overall demand in the global market.”