Technical Review Middle East reports that the world is moving from a time of energy scarcity to energy abundance, according to a report published by research and intelligence experts Rystad Energy.
The company says capacity additions in fossil fuels as well as renewables will outpace increases in demand during 2025. It predicts that China’s oil consumption growth has peaked, while 90 percent of the electricity consumption growth will come from renewables.
This could also make 2025 the breakout year for energy storage systems, according to founder Jarand Rystad. “Of the expected 1,350 terawatt hours (TWh) of growth in global power demand, consumption by data centres – primarily fuelled by AI – is likely to grow by 13 percent in 2025. This equals about 3 percent of total electricity consumption growth, similar to the growth from the 20 million new electric vehicles (EVs) expected.”
The article states that lower carbon energy markets are set to grow, boosted by climate plans emerging from the COP29 summit, although funding and subsidies are uncertain and green energy stocks are under pressure.
A recent article in Compact Equipment magazine explored the difference and offered some guidelines for selecting the best balance for various applications.
Read moreThe Construction Index reports that April marked the third consecutive month of construction output growth in Great Britain according to the Office for National Statistics.
Read moreAccording to a recent Construction Briefing article, the Hamburg Commercial Bank Purchasing Managers’ Index declined to 45.6 in May from April’s 46.0, with any score under 50 representing a decline in activity.
Read moreA recent article in Compact Equipment magazine explored the difference and offered some guidelines for selecting the best balance for various applications.
Read moreIn an article in Construction Briefing magazine, Ace Construction Equipment (ACE) executive director, Sorab Agarwal, cited India’s 6.5 percent annual GDP growth rate and expanding domestic and international markets for the company’s success.
Read moreRental attachments are an often-overlooked profit builder, and smart management is the key to a better return on your investment. A recent article in Pro Contractor Rentals magazine offered four suggestions for running a smarter rental yard.
Read moreExecutives at major North American lift manufacturers anticipate product demand to soften moderately in 2025.
Read moreThe event will allow industry experts to share insights on a range of issues, OEM trends and current and emerging technologies.
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