The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: While other thermal sources - mainly oil - play a role, most of Singapore's electricity is
generated from natural gas. From this perspective it should be noted that the country plans to fuel
additional capacity with LNG. Similarly, Singapore is one of the leaders in renewable energy in the region.
Yet feedstock constraints weigh on the overall development of renewable capacity. Given the demands of
Singapore's energy-intensive industry sector and the existing project pipeline, BMI thus believes that the
country will continue to rely upon thermal sources of energy over the forecast period, while it will go some
way to minimising the risks associated with energy - particularly gas - imports.
Latest Updates and Structural Trends
? BMI estimates that overall power generation will rise from 52.3TWh in 2016 to 67.7TWh in 2025,
representing an average 3.0% expansion during this period.
? BMI estimates that gas fired power generation will expand by an average of 2.9% between 2016 and
2025, growing from 50.2TWh to 64.4TWh during this period.
? While the country faces feedstock limitations, non-hydropower power generation is expected to witness
fairly resilient average growth of 9.6% between 2016 and 2025, taking its share of total electricity
generation from 2.3% to 4.2%.