The size of the Solar Collector Tube market was estimated at USD 23.9 billion in 2021. The industry is expected to grow at a compound annual growth rate (CAGR) of 8.15% between 2022 and 2030, from USD 25.84 billion in 2022 to USD 44.73 billion.
The Solar Collector Tube market refers to the industry that manufactures and sells devices or systems that harness solar energy to heat water or other fluids. These collectors typically consist of a series of tubes or panels that absorb sunlight and transfer the heat to a fluid, which can be used for various purposes such as domestic hot water heating, space heating, or industrial processes.
With the increased usage of new and sustainable energy supply choices that utilize renewable energy, the environmental issues associated with the limited availability of fossil fuel resources are being linked. A huge increase in demand for non-concentrating collectors has also been seen in regions like the APAC region as a result of the low cost of installation and subsequent lower electricity costs. This will create excellent growth opportunities for the market during the forecast period, which will end in 2030.
The COVID-19 pandemic has had both positive and negative impacts on the Solar Collector Tube market. On the positive side, the increased focus on renewable energy and sustainability during the pandemic has driven interest and investment in solar thermal technologies. Governments and organizations have recognized the importance of clean energy sources and have implemented supportive policies and incentives to promote the adoption of Solar Collector Tube.
Key Players
Alternate Energy Technologies LLC. (US)
TVP Solar (Switzerland)
Ouraset (Turkey)
SunEarth (California)
GREENONETEC SOLARINDUSTRIE GMBH (Austria)
Absolicon Solar Collector AB (Sweden)
Sunerg Solar s.r.l. (Italy)
Solimpeks (Turkey)
Heliodyne Inc.(California)
HTP Comfort Solutions LLC (US), among Commercial
Regional Analysis
Europe has been a leading market for Solar Collector Tube, driven by supportive policies, incentives, and high energy prices. Countries like Germany, Spain, and Austria have witnessed significant adoption of solar thermal systems for domestic heating and hot water applications. The Solar Collector Tube market in North America is primarily driven by the United States. Government incentives, renewable energy targets, and the increasing focus on sustainable buildings have contributed to market growth.
The Asia-Pacific region, particularly China and India, has experienced substantial growth in the Solar Collector Tube market. Both countries have implemented ambitious renewable energy targets and have supportive policies to promote solar thermal technologies. The Middle East region, with its abundant sunlight and high demand for water heating, offers significant opportunities for Solar Collector Tube. Countries like UAE, Saudi Arabia, and South Africa have witnessed increasing adoption of these systems. Countries like Brazil, Mexico, and Chile are emerging markets for Solar Collector Tube in Latin America. Growing environmental awareness, government initiatives, and the need for energy diversification are driving market growth in the region.
Market Segmentation
Based on the product type, application, the global market for Solar Collector Tube has been segmented.
Based on the product type, the market has been split into concentrating and non-concentrating product types all over the world. The solar tower, parabolic trough, parabolic dish, and parabolic concentrator are other categories within the concentrating product category. Flat plates and evacuated tubes are further separated under the non-concentrating product category. The product type that does not concentrate holds the biggest market share.
Depending on the use, the market has been segmented globally into commercial, residential, industrial, and a variety of other sectors. The industrial sector, which is expanding extremely quickly, now holds the highest market share.
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Steel Wind Tower Market Overview:
According to MRFR analysis, Steel Wind Tower market is expected to register a CAGR of ~ 9.80% from 2024 to 2032 and hold a value of over USD 69.1 Billion by 2032. The Steel Wind Tower market refers to the market for wind turbine towers, which are essential components of wind power generation systems. Steel Wind Towers are tall structures that support the wind turbines and position them at an optimal height to capture wind energy efficiently.
Market Growth: The Steel Wind Tower market has been experiencing significant growth in recent years, driven by the increasing demand for renewable energy sources and the growing adoption of wind power as a clean and sustainable alternative to traditional energy sources.
Steel Wind Towers are big structures that support wind turbines and their elements. The tower holds the rotor and nacelle of the turbine, as well as it supports the blades to clear the ground safely. The wind turbine is placed at an optimum height to generate electric energy from wind. Government from both developed and developing countries are explosively promoting wind energy as an option to the traditional energy source and hence positively impacting the wind turbine towers market.
Market Dynamics
Growth in this sector is due to the growing demand for clean and reliable energy to minimize global carbon emissions and maintain an ecological balance by generating electricity from renewable resources. Nevertheless, high initial capital costs of projects with high maintenance costs and logistics problems can impede the market for Steel Wind Towers. The global market for Steel Wind Towers had an extensive market in recent years. MRFR analysts have predicted that the Steel Wind Tower market is about to rise at a rapid rate. Moreover, economic growth with a reduction in emissions has given momentum to growth.
For the efficient generation of wind energy, various types of Steel Wind Towers are used. Tubular steel towers, lattice towers, concrete towers, and hybrid towers are used for large wind turbines. At the same time, guyed pole towers are used for small wind turbines. The Steel Wind Tower, one of the most important parts of the wind turbine, will cost 25 to 30% of the overall cost of the wind turbine. Steel Wind Towers are specifically designed for a number of applications. Steel Wind Towers are manufactured for onshore wind turbines and offshore wind turbines.
Key Players
SIEMENS GAMESA Renewable Energy S.A. (Spain)
RENKAG (Germany)
China High-Speed Transmission Equipment Group Co. Ltd. (China)
EICKHOFF ANTRIEBSTECHNIK GMBH (Germany)
Winery Ag (Germany)
Chongqing Gearbox Co., Ltd. (China)
ZF Friedrichshafen (Germany)
ISHIBASHI Manufacturing Co. Ltd. (Japan)
Regional Analysis
The North American region, particularly the United States and Canada, has been a prominent market for wind energy and Steel Wind Towers. The United States has been a leading market due to government support, favorable regulatory frameworks, and increasing investments in renewable energy. The deployment of onshore and offshore wind projects has driven the demand for Steel Wind Towers in this region.
Europe has been at the forefront of wind energy adoption, with countries like Germany, Denmark, Spain, and the United Kingdom leading the market. The region has a well-established wind energy infrastructure and supportive policies promoting renewable energy sources. Offshore wind development in the North Sea and Baltic Sea has created a substantial demand for Steel Wind Towers.
Asia Pacific is witnessing rapid growth in the wind energy sector, primarily driven by China and India. China has become the world's largest wind energy market and a significant producer of Steel Wind Towers. India has also made substantial progress in wind power installations, and its government aims to significantly increase its renewable energy capacity.
Market Segmentation
Steel Wind Tower market has been segmented into Type, Application, Installation Type, and Capacity.
Type : Main Gearbox , Yaw Gearbox
by Application: Offshore Wind , Onshore Wind Power
by Installation Type : New , Replacement,
by Capacity : 5mw-3mw , Up To 1.5mw , Over 3mw.
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Portable Petrol Generator Market Overview:
The Portable Petrol Generator Market is expected to register a CAGR of~4.8% from 2024 to 2032 and hold a value of over USD 3.68 billion by 2032.
The Portable Petrol Generator Market refers to the market for small-scale power generation equipment that is designed to be easily transported and used in a variety of settings. Portable Petrol Generators are typically fueled by gasoline or diesel, and range in size from small, handheld models to larger, trailer-mounted units capable of producing several thousand watts of power. The market is driven by factors such as increased demand for backup power solutions, growth in the construction industry, and rising awareness of the need for emergency preparedness.
The COVID-19 pandemic had a mixed impact on the Portable Petrol Generator Market. On one hand, there has been an increased demand for Portable Petrol Generators as people have spent more time at home and have needed backup power solutions for home offices, medical equipment, and other essential appliances.
On the other hand, the pandemic has also had negative impacts on the global supply chain, causing disruptions in the production and distribution of Portable Petrol Generators. The pandemic has also led to economic uncertainty and reduced consumer spending, which may have impacted the sales of Portable Petrol Generators.
Key Players
Some of the key market players are:
Duromax (US)
Cummins, Inc (US
Champion Power Equipment (US)
WEN Corporation (US)
Yamaha Motor Corporation (Japan)
Generac Power Systems Inc (US)
Harbor Freight Tools (US)
Wacker Neuson SE (Germany)
Pulsar Products Inc. (US)
Energizer Holding Inc. (US)
Caterpillar Inc. (US)
Atlas Copco (India) Ltd. (Sweden)
Regional Analysis
The largest region of the Portable Petrol Generator Market is Asia-Pacific, which includes countries such as China, India, Japan, South Korea, and Australia. The growth of this market is driven by several factors, including rapid industrialization and urbanization in the region, increasing demand for reliable and affordable power solutions, and rising awareness about the need for emergency preparedness.
In particular, China is the largest market for Portable Petrol Generators in the Asia-Pacific region, and is expected to continue to dominate the market in the coming years. This is due to the country's large population, growing economy, and increasing demand for backup power solutions in both residential and commercial settings.
Market Segmentation
Based on the recent research, the Portable Petrol Generator market is analyzed into fuel type, power rating, application, and end-user.
Application Segmentation: The Portable Petrol Generator market by application is classified into various forms like baseload, standby power, and peak shaving.
Fuel Type Segmentation: Based on the fuel type, the Portable Petrol Generator market is analyzed into diesel, gas, and others.
End-user Segmentation: The Portable Petrol Generator market by end-user is trifurcated into industrial, commercial, and residential.
Power Rating Segmentation: Based on the power rating, the market is segmented into less than 3KW, 3KW-10KW, and above 10KW.
Regional Analysis
Based on the latest updates, the Portable Petrol Generator Market is regionally divided into four major regions like Asia-Pacific, Europe, North America, and the Rest of the world. Out of these regions, North America is holding the highest market share due to the frequent power outages by aging grid substructures and natural calamities.
Moreover, continuous rising demand from the industrial sector is boosting the market growth in this region. The U.S is the largest contributor to the Portable Petrol Generator market in this region. Owing to the continuous growth of constructional and developmental activities, the Asia-Pacific region is expected to grow at a significant CAGR in the review period.
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Fuel Cell Generator Market Overview
According to MRFR analysis, the Fuel Cell Generator Market is expected to register a CAGR of~7.97% from 2024 to 2030 and hold a value of over USD 2.81 billion by 2030.
The Fuel Cell Generator Market refers to the market for devices or systems that generate hydrogen gas through various processes such as electrolysis, steam methane reforming, and coal gasification. Fuel Cell Generators are used in a variety of applications, including chemical processing, petroleum refining, metal production, and transportation. The market is driven by increasing demand for hydrogen as a fuel source for clean energy and growing focus on reducing greenhouse gas emissions. It is also influenced by factors such as technological advancements, government initiatives and policies, and increasing investments in research and development activities.
The COVID-19 pandemic had a mixed impact on the Fuel Cell Generator Market. On the one hand, the pandemic led to disruptions in the supply chain and manufacturing operations of Fuel Cell Generator manufacturers due to restrictions on movement and shutdowns of factories. This resulted in delays in project implementation, decreased demand, and reduced revenues.
On the other hand, the pandemic accelerated the shift towards renewable energy sources and the adoption of clean technologies, including Fuel Cell Generators. Governments and industries around the world are recognizing the importance of reducing greenhouse gas emissions and are increasingly investing in green hydrogen projects.
Key Players
Some of the key market players are:
Air Liquide
Air Products and Chemicals
Epoch Energy Technology
LNI Swissgas
Hydrogenics-Corporation
Idroenergy
Linde
McPhy Energy
Proton OnSite
Praxair Inc
Regional Analysis
The largest region of the Fuel Cell Generator Market is Asia-Pacific. This region has been experiencing significant growth in recent years due to various factors, including the increasing demand for hydrogen in the transportation sector, government initiatives promoting the adoption of clean energy, and rising investments in the development of hydrogen infrastructure.
Asia-Pacific region has a significant presence of leading Fuel Cell Generator manufacturers, which has helped to drive the growth of the market. Additionally, the region has abundant natural resources and access to low-cost renewable energy sources, making it an attractive location for hydrogen production.
Market Segmentation
The Fuel Cell Generator Market has been segmented into service and end-user.
Based on the product, the market has been segmented into on-site and portable.
Based on the application, the market has been segmented into chemical processing, petroleum recovery, fuel cells and refinery.
Geographical Analysis
The geographical assessment of North America, Asia Pacific, Europe, and the Rest of the World (RoW) has been carried. According to the study, North America is projected to expand at the highest rate. It is likely to seize the maximum market share in the Fuel Cell Generator Market. The expansion of oil & gas and refineries and chemical industries in the area and exploration of shale gas is likely to drive the market in the region in the forthcoming period. Moreover, the increasing conversion of conventional coal-fired power plants into cleaner fuel power plants like hydrogen is additionally estimated to propel the market.
The APAC region is likely to expand significantly during the forecast period. Due to the existence of various emerging economies, the region is estimated to expand considerably in the forthcoming period.
The outbreak of COVID-19 is likely to change the market mechanism of various regions. Various markets have been influenced significantly due to the observation of nationwide lockdown in various countries.
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Offshore Decommissioning Services Market Overview
The Offshore Decommissioning Services market is projected to grow at a CAGR of 7.10% during the forecast period. As per the Offshore Decommissioning Services market research report, the global market for Offshore Decommissioning Services is anticipated to grow rapidly. As per analysts, increasing gas exploration and production along with the rise in the oil and gas industry will drive the market growth throughout the forecast period.
The Offshore Decommissioning Services market research report provides an in-depth analysis of the Offshore Decommissioning Services market and its type, service type, and application segments. The environmental protection concerns as well as the high cost of decommissioning are the factors which could affect the Offshore Decommissioning Services market growth during the forecast period. The Offshore Decommissioning Services market research report by expert analysts is intended to help companies in the Offshore Decommissioning Services market.
Market Segmentation
The Offshore Decommissioning Services market has been segmented based on type, service type, and application. On the basis of type, the market for Offshore Decommissioning Services is segmented based on topside, substructure, sub infrastructure. Additionally, the market on the basis of service type, is segmented into conductor removal, platform removal, well plugging and abandonment, and others. The global market for Offshore Decommissioning Services is also covered based on the application segment which is further split into shallow water and deepwater.
Key influences such as effects on the marine ecosystem could obstruct the Offshore Decommissioning Services market growth. However, as per the Offshore Decommissioning Services market research report, competitive developments as well as mergers and acquisitions will drive growth during the forecast period. These key growth factors will help support the Offshore Decommissioning Services market growth at a high CAGR. The segmental analysis of type, service type, and application segments as well as regional market analysis has been presented in the Offshore Decommissioning Services market research report. Analysts studying the Offshore Decommissioning Services market have presented projections in the Offshore Decommissioning Services market research report assisting Offshore Decommissioning Services market-based companies in numerous ways. The Offshore Decommissioning Services market research report offers crucial details about the Offshore Decommissioning Services market based on the data and forecasts till 2030.
Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for Offshore Decommissioning Services are primarily covered in the Offshore Decommissioning Services market research report. The report also covers country-level markets spread across North America – the United States, Canada, and Mexico. In South America – Brazil and other country-level Offshore Decommissioning Services markets are covered in the report. In Asia-Pacific (APAC) region, the country-level Offshore Decommissioning Services markets covered are China, India, Japan, and others. The Offshore Decommissioning Services market research report also covers the regional market for Offshore Decommissioning Services spread across European countries including the United Kingdom, France, Italy, Spain, and Germany, etc. The Offshore Decommissioning Services market research report further explores other regional markets from the rest of the world including Offshore Decommissioning Services markets of the Middle East and Africa. As per the Offshore Decommissioning Services market research report.
Competitive Landscape
New product developments and research and developments are expected to accelerate the Offshore Decommissioning Services market growth worldwide. The Offshore Decommissioning Services market is set to witness challenges including aging oil & gas fields, however, companies in the Offshore Decommissioning Services market will sustain the growth rate. The Offshore Decommissioning Services market research report also offers company profiles of key players operating in the Offshore Decommissioning Services market around the world. Additionally, the Offshore Decommissioning Services market report provides detailed analysis of the market based on primary and secondary research data collected from the Offshore Decommissioning Services market’s key decision makers as well as stakeholders. The Offshore Decommissioning Services market research report covers all such factors assisting companies in the Offshore Decommissioning Services market to improve their plans and portfolio.
Industry News
A web-based Offshore Infrastructure Dashboard (OID) has been established by the Office for Protection and Environmental Compliance (BSEE), for information sharing to stakeholders throughout the Gulf of Mexico with different interests. The OID has been said to include federal and state agencies, NGOs and the community with a single web portal, obtaining data on the oil, gas and infrastructure throughout the Gulf of Mexico available for the Rigs-to-Reefs scheme.
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Stationary Air Compressor Market Scope
As per an Extensive Research Report by Market Research Future (MRFR), Stationary Air Compressor Market Information By Product Type, Seal, Pressure, End User, and Region - Forecast till 2030.
The Stationary Air Compressor industry size will rise from USD 37.14 Billion in 2022 to USD 63.9 Billion by 2030, at a rate of 7.02% between 2024 and 2030.
Mechanical devices called Stationary Air Compressors are used to pressurize gases or liquids. Air is the most typical. In the industry, a range of compressors are utilized to deliver the following functions: air for instruments or shops; abrasive blasters, paint sprayers, air tools, and more. Compressed air is supplied by Stationary Air Compressors, which are multipurpose equipment used in numerous production processes.
Stationary Air Compressor Companies:
Atlas Copco (Sweden)
Danfoss (Denmark)
Ingersoll-Rbd Plc (Ireland)
GE Oil and Gas (US)
Hitachi Ltd (Japan)
Sullair LLC (US)
Gardner Denver (US)
Elloitt Group Ltd. (US)
Kirloskar Pneumatics Co. Ltd. (India)
Sulzer AG (Switzerland)
Market USP Covered:
Market Drivers:
In many places, industries are emerging rapidly as the world gets more urbanized. The need for many different industries has increased, especially in emerging nations: food and beverage, manufacturing, semiconductors, electronics, and so forth. These industries make extensive use of centrifugal air compressors because they offer cheap, large-volume air at reasonable prices. It requires even less capital investment because of its longer working life.
A number of developing economies have quickened their industrial and economic growth, including those in Africa and the Asia-Pacific. The need for Stationary Air Compressors is also increasing as a result of government initiatives to support industrial automation and a focus on this field for efficient resource use.
Given that Stationary Air Compressors are widely used in the automotive industry for manufacturing, the growing global need for automobiles, especially in the Asia-Pacific region, is predicted to increase demand for these products. The market will prosper in part due to the growth of the automotive industry in North America and Europe. The United States and Europe continue to be the most significant markets for the automotive industry despite the fact that their populations are slower than those of emerging nations due to technological advancements.
Cars, industrial applications, air conditioning and refrigeration, and other fields all make use of stationary air compressors. Larger and larger ones are utilized by industrial end users, while smaller ones are utilized in automobiles, freezers, and air conditioners. Therefore, the demand for air compressors will continue to rise due to an improved lifestyle, rising spending power, and an increasing population in the region.
Market Restraints:
The air that is supplied to air compressors requires special handling because any impurities in the air can harm the supply pipes, causing corrosion and leaks that eventually produce power. In the long run, this could be a significant barrier to market expansion.
Market Segmentation
Positive and dynamic air compressors are included in the Stationary Air Compressor market segmentation based on product type.
In terms of seal, the Stationary Air Compressor market is divided into two categories: oil-free and oil-lubricated air compressors.
Pressure has divided the Stationary Air Compressor market data into three sub-segments: up to 20 bar, 20-100 bar, and above 100 bar.
Oil & Gas, Chemicals & Petrochemicals, Food & Beverage, Metals & Mining, Construction, and Automotive are the segments of the Stationary Air Compressor industry, depending on end user.
Regional Insights
As far as market share goes, the Asia-Pacific region leads with 45%. The growing investments in LNG, chemical, and mining projects are driving the growth of the Asia Pacific air compressor market as well as the domestic manufacturing sector in countries like China and India, which includes the food and beverage and automotive industries.
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The global DCS Control System market is growing at a rapid pace. Rising industrialization worldwide bolsters the market growth. Besides, expanding population and escalating urbanization rates across emerging regions drive the market growth. As the global population rises, the energy demand soars high, becoming an earnest necessity.
With substantial investments in developing DCS Control Systems and microgrids, the market is projected to garner substantial traction in the next couple of years. According to Market Research Future (MRFR), the global DCS Control System market is expected to reach USD 35,241.3 Million by 2030, registering a 6.1% CAGR during the forecast period (2024 - 2030),
Especially, major cities with the increase in industrial infrastructures are witnessing huge demand for DCS Control Systems. Moreover, the rising focus on nuclear and renewable energy generation impacts the market value. Growing government mandates & updated policies towards renewable power generation increase the market size.
The introduction of open source DCS solutions and the rising preference for private or public cloud offers attractive opportunities for the leading market vendors in the nearing future. Furthermore, nuclear and renewable power plant systems integrated with synchronous machines, battery-based energy storage systems, and wind turbine generators boost the demand for DCS, managing and controlling the whole power plant system.
DCS Control System Market – Segments
The DCS market is segmented into component, application, end-use, and region. The component segment is further bifurcated into hardware, software, and services. By application, the market is sub-segmented into continuous processes and batch-oriented processes.
Based on end-use, the market is sub-segmented into power generation, oil & gas, food & beverage, pharmaceutical, chemicals, metal & mining, paper & pulp, and others. By regions, the report is sub-segmented into the Americas, Asia Pacific, Europe, and rest-of-the-world.
DCS Control System Market – Regional Analysis
The Asia Pacific region has remained the market leader since 2016 and could continue to maintain its leading position throughout the assessment period. Factors such as the growing production and competition among DCS manufacturers in the region positively impact the regional market growth.
Besides, the rapid urbanization and industrialization in the region create substantial market demand, prompting the necessity for higher operational efficiency, minimizing production cost, and process control industries. Rapidly growing industries, such as oil & gas, chemicals, power generation, and pharmaceuticals, support the region's DCS market share.
Moreover, the increase in renewable energy sources shares and government initiatives to promote DCS installation drive the market growth. Moreover, the increase in the generation capacity of renewable energy sources across the region is expected to increase the demand for DCS in the years to come.
DCS Control System Market – Competitive Analysis
Highly competitive, the DCS market appears fragmented due to the presence of several well-established players. Major players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/ technology launch to gain a larger competitive share.
Major Players
Players leading the global DCS market include Emerson (USA), ABB (Switzerland), Schneider Electric (France), Rockwell Automation (US), Siemens (Germany), General Electric (US), Yokogawa (Japan), Honeywell International Inc. (US), Toshiba (Japan), Azbil Corporation (Japan), Hitachi (Japan), and Metso Corporation (Finland), among others.
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The Smart Electric Meter market is a continually growing space. Factors driving the market growth include rising government initiatives and mandates to implement Smart Electric Meter in households and commercial applications in recent times.
Besides, spreading awareness about the advantages of Smart Electric Meter boosts the market size. Major players such as Landis+Gyr and Itron play a significant role in the development of the market.
According to Market Research Future (MRFR), the Smart Electric Meter market valuation to reach USD 40.85 Billion by 2032, registering a CAGR of 8.20% during the review period (2023 – 2032). Vast developments in infrastructure and implementations of smart grids positively impact the growth of the Smart Electric Meter market.
However, compatibility issues in Smart Electric Meter adoption are hindering the growth of the Smart Electric Meter market. Nevertheless, advancements in technology would support the market growth throughout the assessment period, eliminating the issues mentioned above with advanced communication networks.
Major Players
Siemens AG. (Germany)
Schneider Electric (France)
Landis+Gyr (Switzerland)
Aclara Technologies LLC (U.S.)
Xylem Inc. (US)
Badger Meter Inc. (US)
Itron Inc. (US)
Honeywell International Inc. (US)
EDMI (Singapore)
DIEHL Metering (Germany)
Apator Group (Poland)
Kamstrup A/S (Denmark)
Zenner (Germany)
Smart Electric Meter market - Segments
The Smart Electric Meter market report is segmented into type, technology, application, and region. The type segment is sub-segmented into electric meters, gas meters, and water meters.
Among these, electric meter is the largest type segment. The segment would grow further at a massive 55.6% CAGR, while the gas meter segment is projected to register at a 9.56% CAGR during the forecast period.
The technology segment is sub-segmented into automatic meter reading (AMR), advanced metering infrastructure (AMI), and others. Of these, the AMI technology segment accounts for the largest market share due to the high utility of these technologies. The segment is likely to grow at a 9.77% CAGR during the review period.
The application segment is sub-segmented into commercial, industrial, and residential. The residential sector segment accounts for the largest market share. The residential segment is estimated to rise at a 9.81% CAGR during the assessment period.
Smart Electric Meter market - Regional Analysis
The Asia Pacific region dominates the Smart Electric Meter market. The largest market share attributes to the rise in smart city projects and energy demand due to the rapid economic growth and expanding population across the region. Besides, technological advances and surging T&D and demand levels promote the growth of the regional market. China and India are the largest Smart Electric Meter market, contributing to the regional market significantly.
Europe seizes the second-highest share in the Smart Electric Meter market. Factors such as growing production capacities and smart meter manufacturers in the region drive the growth of the market. Additionally, increasing demand for power, escalating population levels & lifestyle changes, regulatory changes, and increasing consumer capacity and push the regional market growth. The European Smart Electric Meter market is estimated to grow at a 9.91% CAGR during the assessment period.
The Smart Electric Meter market in North America is growing rapidly. Factors such as increasing investments in Smart Electric Meter sectors and the rising grid development projects across the region boost the market growth. Furthermore, power transmission & distribution foster smart meter market growth, increasing smart grid technology. The significant expansion in the industrial sector and government initiatives to increase overall energy generation capacities in the region propel the market growth.
Smart Electric Meter market - Competitive Analysis
The Smart Electric Meter market appears highly competitive and diversified, with the presence of many well-established players having a global presence. Mergers & acquisitions, collaboration, expansion, and technology/product launches remain the key trends for leading players in the smart camera market.
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Vertexcom Wi-SUN FAN certified products include smart electricity meters, water meters, gas meters, smart grid, and smart meter infrastructure (AMI), etc.
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Renewables Fuels Market Overview
Comprehensive Research Study by Market Research Future (MRFR), Renewables Fuels Market Information by Type, Feedstock Type, and Region - Forecast till 2030”
The Renewables Fuels market might go from USD 115.5 Billion in 2022 to USD 205.45 Billion by 2030, with a CAGR of 10.14% between 2023 and 2030.
Fuels produced from plant, animal, or algal material are referred to as "Renewables Fuels". Renewables Fuels are classified as renewable fuels since the feedstock material used in them can regenerate more quickly than in the case of conventional fossil fuels.
The limited availability of resources derived from fossil fuels and the rising awareness of the necessity to minimize carbon emissions are only a few of the factors that are anticipated to have an impact on the global market.
Market Competitive Landscape:
Archer Daniels Midland Company
Aceites Manuelita S.A.
INEOS Group AG
Neste Corporation
Renewable Energy Group Inc.
BlueFire Renewables
Cosan
Biowanze S.A.
GLENCORE Magdeburg GmbH
Cargill
Renewables Fuels Market Drivers:
The market for Renewables Fuels is being stimulated by a number of factors, including an increase in the demand for ecologically friendly fuel for use in transportation, increased awareness of the usage of renewable energy sources, and increased focus on lowering greenhouse gas emissions. It is anticipated that the major players in the global biofuel market will profit from the lucrative growth opportunities brought on by new biofuel applications.
Renewables Fuels will be employed as a dependable and affordable source of aviation fuel. A production method that makes it simple to produce jet fuel from biomass has been discovered by scientists and researchers working on Renewables Fuels. Technology advancements in the biofuel industry have also led to a fall in the cost of Renewables Fuels, one of the primary components used to replace the use of fossil fuels.
One of the most significant energy sources in the world is petroleum oil. Petroleum fuel accounts for more than 70% of usage in the transportation industry. By 2070–2080, the world is predicted to run out of petroleum due to the sharp increase in petroleum use. Due to greenhouse gas emissions (GHG), which include CO2 and other dangerous compounds including methane, carbon monoxide, and chlorofluorocarbons, its excessive use has raised worries about human health and global warming. By 2040, it's expected that there will be more greenhouse gas emissions than 43 billion metric tons. There is a need for complementary power sources that are available, accessible, and renewable.
Renewables Fuels are being developed to replace petroleum because they are nontoxic, sulfur-free, biodegradable, and derived from renewable sources. The four categories of Renewables Fuels—first, second, third, and fourth generation—are separated based on the feedstock. The first generation of Renewables Fuels is made from plants that are based on sugar, starch, and oil. The rise of genetically modified yields has accelerated since its introduction in 1996–1997. While the second-generation biofuel generated from sustainable lignocellulosic biomass allays concerns about food safety, the first-generation of Renewables Fuels add to the conversation about nutrition and transportation.
Market Restraints:
Due mostly to events in China, where expenditures in ethanol production facilities were reduced by half from the previous year, investments in liquid biofuel production capacity declined by almost 30% in 2019. To lessen competition for maize production and protect food security, China has prevented the country's 10% ethanol blending law from being expanded nationally. Because 10% blending is still being introduced in certain new provinces, new infrastructure may soon support an increase in investment in China.
Market Segmentation
The two most common types of Renewables Fuels on the market are biodiesel and ethanol.
Depending on the kind of feedstock, the study has taken into consideration First, Second, and Third-Generation.
Regional Insights
The biofuel market is expanding the fastest. As more legislation and regulations supportive of Renewables Fuels are developed and accepted, especially in the emerging countries of Asia-Pacific where they will be blended with conventional fossil fuels in the transportation sector, it is projected that demand for Renewables Fuels would increase. Although the Renewables Fuels market in the Asia Pacific area is still relatively young, there is still a ton of opportunity for growth, as seen by companies investing, like NESTE, $1.4 billion in a biorefinery in Singapore in 2019. A number of regional governments have shown their support for the industry by creating a friendly regulatory environment.
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Offshore Support Vessel Services Market Report 2024 Key Trend, Future Opportunities Forecast To 2030
Offshore Support Vessel Services Market Overview
The Offshore Support Vessel Services Market is estimated to project USD 18,076.04 billion by 2030 and more than -5. 94% during the forecast period. Offshore Support Vessel Services provide drilling rigs, oil manufacturing platforms, and pipe laying platforms in oil and gas exploration.
The drilling processes and the logistics are enabled and are supported by the support vehicles. The different offshore vessels have different functions based on the type of operation.
The increasing energy demand in various industries and regions will propel industry growth. The constant fluctuation of the crude oil price is hindering the market. The requirement for high capital costs acts as a restraining factor for the market. The operational efficiency is high, which forms a challenge that the operators must concentrate on and tackle. Covid 19 is impacting various energy industries due to the geopolitical issues trade problems by different countries and others which is a factor for the limitation of the market.
Increasing investment for renewable and non-renewable energy infrastructure will increase the market expansion in the forecast period. The government focuses on expanding the offshore wind capacity to control carbon emissions. Several global organizations and policies by the government are encouraging the deployment of low-carbon power generation technologies in different locations.
Key Companies
P. Moller - Maersk AS (Denmark)
Siem Offshore AS (Norway)
SEACOR Marine (US)
Tidewater (US)
Solstad Farstad (Norway)
Bourbon Offshore (France)
Havila Shipping (Norway)
Vroon B. V. (Netherlands)
Edison Chouest Offshore (US)
Abdon Callais Offshore LLC (US)
Offshore Support Vessel Services Market segmentation
The Offshore Support Vessel Services Market is classified by type and application. Anchor Handling Tug Supply Vessel, Platform Supply Vessel, Multipurpose Support Vessel, Standby & Rescue Vessel, Standby & Rescue Vessel and seismic vessel are the sub-segments of the type. As the anchor handling tug supply holds various functions together like positioning sites, towing of rings, a chain of drilling rigs and other functions, the segment will dominate the market with the highest CAGR segment. The anchor handling requires winch capacity, deck space aft and high power. The market is bifurcated into deepwater and shallow water based on the application as shallow water is less expensive than the deepwater segment. The deepwater segment dominated the market in 2020. The shallow water fields become more mature o the oil and gas companies are searching at deep and ultra-deepwater, fulfilling the rising demand. The segments are contributing to the market evaluation and the market profitability.
Offshore Support Vessel Services Regional analysis
The Offshore Support Vessel Services Market is classified in Europe, North America, Asia Pacific, and other parts based on the region. North America is expected to dominate the market due to large untapped resources and many rigs. India consists of more than -200 fleet, so the Asia Pacific region contributes to the growth due to economically developed countries like China and India. The region already consists of offshore oil and gas reserves. It is still investigating the possibilities for better investment that will impact the Offshore Supply Vessels Market size.
All the regions contribute to the market's growth and invest in the market to push it forward.
Industry news
A Norwegian uptime international service provider won two contracts with DOF subsea, a Norway-based subsea and marine service provider for the walk to walk system on one of its vessels.
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