Monday 5 February 2018, Amsterdam
The report, now available on ASDReports, recognizes the following companies as the key players in the global automation solution market in renewable power generation industry: ABB, Emerson, General Electric, Rockwell Automation, Schneider Electric, and Siemens.
Commenting on the report, an analyst said: “One trend in the market is inception of new business models. 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.”
According to the 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 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.
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