Latest news with #GlobalMarketInsights
TimesLIVE
2 days ago
- Automotive
- TimesLIVE
Dutch car-sharing firm plugs into Renault EVs with V2G technology
The global V2G market was worth $3.4bn (R60,694,874,240) in 2024, according to Global Market Insights, and is expected to grow by 38% annually between 2025 and 2034 to reach $80bn (R1,428,568,000,000). The Netherlands is an early adopter of V2G technology due to ambitious plans to electrify its transport and heating systems while also moving to renewables. Japan's Nissan has also recently supplied dozens of V2G-enabled Leaf and Ariya models to France and Spain. MyWheels said 500 of Renault's V2G-compatible cars, including its electric R5, will be on the road by next year. When not driving, the cars will be plugged into We Drive Solar's bidirectional chargers and the scheme's operators will be paid for electricity absorbed and sold to the grid. Grids have become increasingly unstable with growing electrification and as more intermittent renewable energy is fed into the system. 'Our research shows vehicle-to-grid technology could allow the growing electric vehicle fleet to become a significant asset to the grid, with vast storage potential locked up in electric vehicles,' said Madeleine Brolly, advanced transport analyst at Bloomberg New Energy Finance. A key challenge ahead will be standardisation across manufacturers, which will be needed for it to be adopted at scale, she said.
Zawya
3 days ago
- Business
- Zawya
How Oman is embracing agrivoltaics for a sustainable future?
Beneath the bright Omani sun, a quiet transformation is taking root. Fields that once lay exposed to the harsh desert heat may soon be shaded by rows of solar panels - not as a replacement for agriculture, but as its ally. This is agrivoltaics: a forward-thinking approach where farming and solar energy generation go hand in hand, promising a new model of land use for arid regions like Oman. Agrivoltaics - the practice of combining solar panels with agriculture on the same land - was first proposed in 1981 by German physicist Adolf Goetzberger as a solution to the competing demands for land, food, and energy (AgTech Digest, 2024). By shading crops and reducing water loss while generating electricity, agrivoltaics is particularly suited to arid, sunny regions like Oman. Globally, the market is expanding rapidly: Global Market Insights (2024) valued the agrivoltaics sector at $6.3 billion, forecasting a compound annual growth rate (CAGR) of 5.6% through 2034. A UK-based study by the University of Sheffield (2024) further highlighted that deploying agrivoltaics on 20,272 km² of high-grade farmland could generate around 338 terawatt-hours of electricity annually, while maintaining agricultural output - a model with clear potential for countries seeking sustainable land use. For Oman, where Vision 2040 prioritises both sustainable agriculture and renewable energy, agrivoltaics offers an opportunity to make its land work smarter: producing food, conserving water, and harvesting energy from the sun. The concept is simple but powerful. By combining agriculture with solar installations, land can serve two purposes at once; growing crops while generating clean electricity. The panels provide shade that reduces evaporation and heat stress for plants, while the ground below helps cool the panels, improving their efficiency. It's an elegant solution to some of the most pressing challenges facing Oman today: water scarcity, food security, and the urgent need to expand renewable energy. Earlier this year, Oman announced plans for its first large-scale agrivoltaics project: a 300-acre agri-solar park backed by an investment of over RO 61 million. Singapore's V-Plus Agritech will contribute advanced technologies, including vertical aquaponics and circular farming systems. The project supports Oman's Vision 2040, which calls for economic diversification and greater sustainability across all sectors. Few countries are better suited to agrivoltaics than Oman. The Sultanate enjoys year-round sunshine — an abundant natural resource that remains underutilized. At the same time, water is precious, and conventional agriculture faces rising challenges due to climate change. In this context, the ability to grow food while producing clean power and conserving water represents a major opportunity. The country's recent momentum in solar energy supports this path. By the end of 2025, Oman's small and mid-scale solar capacity is expected to reach about 130 MW, and the launch of giga-scale solar projects signals growing ambition. Integrating agrivoltaics into this mix could multiply the benefits, generating local jobs, enhancing food resilience, and positioning Oman as a regional leader in sustainable land use. For Oman, agrivoltaics is more than a technological innovation — it's part of a broader journey toward a balanced, sustainable future where land works harder and smarter for the people who depend on it. If successful, the first projects could pave the way for more; transforming the landscape of farming, energy, and opportunity in the years to come.
Observer
4 days ago
- Science
- Observer
How Oman is embracing agrivoltaics for a sustainable future
Beneath the bright Omani sun, a quiet transformation is taking root. Fields that once lay exposed to the harsh desert heat may soon be shaded by rows of solar panels - not as a replacement for agriculture, but as its ally. This is agrivoltaics: a forward-thinking approach where farming and solar energy generation go hand in hand, promising a new model of land use for arid regions like Oman. Agrivoltaics - the practice of combining solar panels with agriculture on the same land - was first proposed in 1981 by German physicist Adolf Goetzberger as a solution to the competing demands for land, food, and energy (AgTech Digest, 2024). By shading crops and reducing water loss while generating electricity, agrivoltaics is particularly suited to arid, sunny regions like Oman. Globally, the market is expanding rapidly: Global Market Insights (2024) valued the agrivoltaics sector at $6.3 billion, forecasting a compound annual growth rate (CAGR) of 5.6% through 2034. A UK-based study by the University of Sheffield (2024) further highlighted that deploying agrivoltaics on 20,272 km² of high-grade farmland could generate around 338 terawatt-hours of electricity annually, while maintaining agricultural output - a model with clear potential for countries seeking sustainable land use. For Oman, where Vision 2040 prioritises both sustainable agriculture and renewable energy, agrivoltaics offers an opportunity to make its land work smarter: producing food, conserving water, and harvesting energy from the sun. The concept is simple but powerful. By combining agriculture with solar installations, land can serve two purposes at once; growing crops while generating clean electricity. The panels provide shade that reduces evaporation and heat stress for plants, while the ground below helps cool the panels, improving their efficiency. It's an elegant solution to some of the most pressing challenges facing Oman today: water scarcity, food security, and the urgent need to expand renewable energy. Earlier this year, Oman announced plans for its first large-scale agrivoltaics project: a 300-acre agri-solar park backed by an investment of over RO 61 million. Singapore's V-Plus Agritech will contribute advanced technologies, including vertical aquaponics and circular farming systems. The project supports Oman's Vision 2040, which calls for economic diversification and greater sustainability across all sectors. Few countries are better suited to agrivoltaics than Oman. The Sultanate enjoys year-round sunshine — an abundant natural resource that remains underutilized. At the same time, water is precious, and conventional agriculture faces rising challenges due to climate change. In this context, the ability to grow food while producing clean power and conserving water represents a major opportunity. The country's recent momentum in solar energy supports this path. By the end of 2025, Oman's small and mid-scale solar capacity is expected to reach about 130 MW, and the launch of giga-scale solar projects signals growing ambition. Integrating agrivoltaics into this mix could multiply the benefits, generating local jobs, enhancing food resilience, and positioning Oman as a regional leader in sustainable land use. For Oman, agrivoltaics is more than a technological innovation — it's part of a broader journey toward a balanced, sustainable future where land works harder and smarter for the people who depend on it. If successful, the first projects could pave the way for more; transforming the landscape of farming, energy, and opportunity in the years to come.
Yahoo
04-05-2025
- Business
- Yahoo
Canton Fair Chronicles a Decade of Growth in the Global Pet Economy
GUANGZHOU, China, May 3, 2025 /PRNewswire/ -- Phase 3 of the 137th China Import and Export Fair (Canton Fair), held from May 1 to 5, marked the eleventh year of the dedicated exhibition zone for pet products and food. Since its launch at the 116th session in 2014, the zone has evolved alongside the pet industry itself, reflecting the shift from pets as simple companions to key drivers of consumer spending. Market data points to steady growth across a wide range of pet economy segments, such as food, hygiene products, smart feeders, and more. Each area offers significant potential. According to Global Market Insights, the pet accessories market alone reached USD 23.4 billion in 2024 and is expected to grow to USD 49.6 billion by 2034, with a projected annual growth rate of 7.9%. As industry expands, competition intensifies, pushing companies to continuously adapt and innovate. The 137th Canton Fair marked the fifth appearance of Puyuan (Dalian) Pet Products Co., Ltd., which values the event for its unique advantages over industry-specific exhibitions. May Wu, Puyuan's Operation Manager, noted that the Fair attracts a more diverse group of buyers, enabling access to procurement teams that are often absent at niche trade shows. This exposure has opened doors to new customer segments and led to larger orders from major retailers and supermarkets. Demonstrating its commitment to innovation, Hangzhou TianYuan Pet Products Co., Ltd. continues to unveil its latest offerings at every edition of the Fair. "A few years ago, this industry was still in its early stages, but now it has reached a considerable scale," said Haha, TianYuan's Marketing Manager. "With over two decades of experience, we've witnessed this transformation firsthand." The Canton Fair has also played a pivotal role in tracking the rapid development of the pet industry. Initially showcasing necessities like food and toys, this exhibition zone has evolved into a hub for innovation, introducing advanced solutions that redefine pet care, such as a CF Award-winning device that uses voice control and lasers to engage cats, easing anxiety and promoting exercise. Newer offerings also emphasize co-living comfort, from multifunctional furniture for pets and owners to oxygen-infused mineral cat litter that enhances the home environment. The evolution of the Canton Fair's pet products and food zone not only mirrors the industry's advancement but also underscores the growing bond between people and their animal companions. View original content to download multimedia: SOURCE Canton Fair
Yahoo
16-04-2025
- Business
- Yahoo
Every Wolfspeed Investor Should Keep an Eye on This Number
Do you own a stake in industrial technology outfit Wolfspeed (NYSE: WOLF)? Maybe it's on your watch list? Whatever the case, it's a compelling but complicated investment prospect. The company's tech is critical to several industries' futures, but its declining revenue and lack of profitability are concerning. Neither or those numbers is the one that's most important to current and would-be Wolfspeed shareholders, however. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » If you're not familiar, Wolfspeed makes silicon carbide. This improvement on ordinary silicon makes it useful for high-voltage and high-heat applications like electric vehicles, power-hungry data centers, HVAC systems, and utility-scale renewable energy facilities, just to name a few. Problem? Manufacturing silicon carbide at scale isn't cheap or easy. That's why Wolfspeed's revenue and net income have been hot and cold for some time now. There's clear long-term potential though, even if demand has softened in the short run. Global Market Insights says the business is set to grow at an annualized pace of 34.5% through 2034. Wolfspeed is positioning for this future. Namely, the company's been investing heavily since 2020 to expand its manufacturing capacity. Although this has eaten into net income in the meantime, the reduction of these capital expenditures expected over the next couple of years should push profits back in a positive direction again, boosted by subsequent revenue growth. For investors keeping tabs on this company, however, the far more important figure to watch is Wolfspeed's backlog. As of the end of its most recently reported quarter, its backlog of design wins stood at over $12 billion, up from a little over $11 billion just a quarter earlier, and less than $1 billion just four years ago. For perspective, last fiscal year's total top line was $807 million. This backlog isn't necessarily guaranteed revenue, to be clear. Orders can be cancelled. Still, the trajectory of Wolfspeed's design win backlog is a reasonably good indication of where the company's headed, laying the groundwork for an eventual swing back to profitability. Before you buy stock in Wolfspeed, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Wolfspeed wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $526,499!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $687,684!* Now, it's worth noting Stock Advisor's total average return is 818% — a market-crushing outperformance compared to 156% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 14, 2025 James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Wolfspeed. The Motley Fool has a disclosure policy. Every Wolfspeed Investor Should Keep an Eye on This Number was originally published by The Motley Fool
