Energy & Natural Resources

Research Press Releases in Energy & Natural Resources

Pipeline Maintenance Services Market
June, 2024

New York, June 2024: According to a new research study by Global Insight Services (GIS), the global Pipeline Maintenance Services Market is expected to grow rapidly over the next 10 years to reach a value of more than USD 38.8 billion by 2033.

Pipeline maintenance services are services designed to keep pipelines operating safely and efficiently. These services include inspection, testing, repair, maintenance, and upgrades of pipelines.

Pipeline inspection services involve using various methods to inspect the pipelines for signs of damage, corrosion, and other issues. This includes using cameras to inspect the inside of the pipe, ultrasonic testing to detect any flaws or cracks, and x-ray imaging to look for any signs of corrosion. After the inspection is complete, the technician will provide a report of any findings and recommend any necessary repairs or maintenance.

Pipeline testing services are used to determine the overall condition of a pipeline. These tests include hydrostatic testing, which measures the pressure of the pipeline to ensure it is within the safe limits, and vibration testing, which tests for any irregularities in the pipeline. After the tests are complete, the technician can determine if any repairs or maintenance are needed.

Pipeline repair and maintenance services involve repairing any damage to the pipeline, as well as making any necessary upgrades. This includes replacing damaged pipes, installing new valves and fittings, and performing corrosion prevention services.

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Pipeline Maintenance Services Market: Key Drivers and Trends

Pipeline maintenance services technology is a rapidly evolving field that is seeing a variety of trends. These trends are focused on improving safety, reducing costs, and increasing efficiency. The following are some of the key trends in pipeline maintenance services technology.

1. Automation: Automation is becoming increasingly important in pipeline maintenance services technology. Automation helps to reduce costs by allowing tasks to be completed faster and more accurately. Automation can also help to improve safety by reducing the need for personnel to be in close proximity to potentially hazardous areas. Automation can also help to improve efficiency by reducing the need for manual labor and providing real-time data that can be used to make informed decisions.

2. Advanced Sensors: Advanced sensors are becoming increasingly important in pipeline maintenance services technology. Sensors can be used to monitor the conditions of the pipeline in real-time. This data can then be used to detect problems before they become serious and can help to reduce the risk of catastrophic failures.

3. Data Analytics: Data analytics is becoming increasingly important in pipeline maintenance services technology. Data analytics can help to identify trends, detect anomalies, and optimize operations. This data can be used to improve safety, reduce costs, and increase efficiency.

Pipeline maintenance services are critical for optimal performance of any pipeline system. Pipeline maintenance involves regular inspection and maintenance of pipelines and associated equipment to ensure that they are functioning properly and that any potential issues are addressed promptly. The key drivers of pipeline maintenance services market can be broadly classified into economic, environmental, safety, and regulatory factors.

Economic factors are the key drivers of the pipeline maintenance services market. The cost of maintaining pipelines and associated equipment is a major factor that drives the demand for pipeline maintenance services. If pipelines are not properly maintained, it can lead to costly repairs or even complete replacement of the pipeline system. Additionally, pipeline maintenance services help to reduce downtime and increase efficiency of the pipeline system, resulting in cost savings over the long term.

Environmental factors are also a key driver of the pipeline maintenance services market. Pipeline systems are often located in environmentally sensitive areas, such as near rivers, wetlands, and coastal regions. In order to ensure that these areas are not impacted by pipeline operations, regular maintenance is required to ensure that any potential environmental issues are addressed promptly. Additionally, pipeline maintenance services help to reduce the risk of potential oil spills, which can have devastating environmental impacts.

Safety is another important factor that drives the demand for pipeline maintenance services. Pipeline systems are often located in remote locations, making it difficult to access in the event of an emergency. Regular maintenance of pipelines and associated equipment helps to ensure that any potential safety issues are addressed promptly. Additionally, maintenance services help to reduce the risk of pipeline failure, which can have serious safety implications.

Pipeline Maintenance Services Market: Restraints and Challenges

Pipeline maintenance services is a critical process that is used to ensure the safe and efficient operation of pipelines. It is an important part of any pipeline system, as it helps to ensure that the system is functioning correctly and that any problems are identified and addressed before they can cause harm. Pipeline maintenance services are essential for the safe and efficient operation of any pipeline system. However, there are several key restraints and challenges that must be addressed in order to ensure that these services are successful.

The first key restraint and challenge in pipeline maintenance services is the cost. Pipeline maintenance services can be quite expensive, as they require specialized equipment and personnel. The cost of these services can be prohibitive for some companies, particularly those with limited budgets. Additionally, the cost of pipeline maintenance services can vary significantly depending on the type of pipeline, the complexity of the system, and the size of the company.

The second key restraint and challenge in pipeline maintenance services is the availability of qualified personnel. Pipeline maintenance services require highly-skilled personnel who are knowledgeable in the specific systems and components of the pipeline. This can be difficult to find in certain areas, and can be expensive to hire and retain. Additionally, the personnel must be certified in order to ensure that the services are of the highest quality.

The third key restraint and challenge in pipeline maintenance services is the ability to access the pipeline. In many cases, the pipeline is located in remote areas, making it difficult to access. This can be especially challenging for companies who do not have the necessary equipment or personnel to access the pipeline. Additionally, the pipeline may be located on private property, which can further complicate the process.

Pipeline Maintenance Services Market Report Findings

https://www.globalinsightservices.com/reports/pipeline-maintenance-services-market

The Pipeline Repair and Maintenance segment is anticipated to dominate the market during the forecast period

Based on the Service Type, the Pipeline Maintenance Services Market is bifurcated into Pigging, Flushing and Chemical Cleaning, Pipeline Repair and Maintenance, Drying, and Others. The Pipeline Repair and Maintenance segment dominated the market in 2023 and it is anticipated to be the fastest during the forecast period. The growing focus on predictive maintenance, using data analytics and machine learning to anticipate and address potential issues before they escalate, enhancing the overall reliability and lifespan of pipelines.

The onshore pumps segment is anticipated to dominate the market during the forecast period

Based on location of deployment, it is bifurcated into Onshore, and Offshore. The onshore segment dominated the market in 2023 and it is anticipated to be the fastest during the forecast period. The growth factors such as the adoption of advanced technologies like drones and robotic systems for efficient and accurate inspections. There is also a growing emphasis on environmental sustainability, with companies implementing eco-friendly maintenance practices and focusing on reducing the environmental impact of pipeline operations.

The North America region is anticipated to dominate the market during the forecast period

By Region, the market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America dominated the regional segment in 2023 and Asia Pacific is anticipated to be the fastest growing region in the coming years. Many pipelines in North America, particularly in the United States and Canada, are several decades old and require regular maintenance to ensure safety and operational efficiency. The stringent regulations enforced by agencies such as the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) mandate frequent inspections and maintenance to prevent leaks, spills, and other hazards, driving the demand for maintenance services. Technological advancements are also a significant driver in this market. The adoption of innovative technologies such as drones, robotics, and advanced sensors has improved the efficiency and accuracy of pipeline inspections. These technologies allow for remote monitoring and real-time data analysis, reducing the need for manual inspections and minimizing downtime. The integration of artificial intelligence and machine learning in predictive maintenance models helps in early detection of potential issues, further enhancing the safety and reliability of pipeline operations.

Companies are increasingly adopting green practices and technologies to reduce their environmental footprint. Additionally, the rise of renewable energy sources such as hydrogen and biofuels is creating new opportunities for specialized pipeline maintenance services, as these new energy carriers require different handling and maintenance protocols. The post-COVID recovery is also accelerating investment in infrastructure development, leading to increased demand for maintenance services to support the expansion and modernization of pipeline networks.

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Competitive Landscape

Some major key players of Pipeline Maintenance Services Market are Halliburton (US), Baker Hughes Company (US), EnerMech (UK), IKM Gruppen (Norway), Altus Intervention (Norway), BlueFin, a GATE Energy company (US), STEP Energy, Services (US), Trans Asia Pipelines (UAE), Chenergy (Nigeria), and Techfem (Italy).

Recent Developments
  • In April 2024, Cable systems designer and manufacturer Nexans and Norwegian energy giant Equinor have expanded their long-standing partnership with a four-year contingency and preparedness contract. This agreement extends their collaboration, with Nexans set to provide turnkey repair services for around 3,000 kilometers of Equinor’s various cable systems. Equinor will manage and operate the contract on behalf of the Pipeline Repair and Subsea Intervention (PRSI) Pool members. Nexans will perform comprehensive repairs on all types of cables, including XLPE, mass-impregnated, and oil-filled cables, ensuring the normal operation of Equinor’s assets. The services will cover areas in Northern Europe, with the possibility of expansion based on client needs.
  • In April 2024, MPE Partners and its portfolio company, Precision Pipeline announced the acquisition of SabCon Underground today. SabCon is a leading provider of essential repair, new installation, replacement, and maintenance services for natural gas utility customers across Florida. The company offers a wide range of services, including horizontal directional drilling, open trench excavation, pipe fusion, hot taps, and other specialized services.
  • In April 2024, Under the agreement, DeepOcean will handle subsea pipeline, structure, and high-voltage cable work for offshore renewable energy and oil and gas fields, according to GlobalData. This four-year agreement applies to Equinor’s operations on the Norwegian Continental Shelf and planned international projects, as well as contingency work for the Pipeline Repair and Subsea Intervention (PRSI) Pool members. The PRSI Pool includes 23 energy companies that collectively manage their offshore pipeline and power cable repair contingencies. The agreement also includes options for extensions of up to four additional years. DeepOcean plans to manage the contract from its Haugesund office in Norway.
  • In February 2024, Industrial services provider Bilfinger SE has secured a major maintenance contract from INEOS for the Forties Pipeline System (FPS). The three-year contract, starting in January and with an option for a two-year extension, aims to ensure the reliability of the FPS, which has been transporting and processing oil and gas from the North Sea since 1975. The FPS has handled billions of barrels of crude oil from 85 offshore fields, playing a crucial role in the UK’s North Sea oil and gas industry. Under the agreement, Bilfinger will provide access, insulation, coating, and fireproofing services for both onshore and offshore facilities of the 105-mile (169-kilometer) pipeline system. Bilfinger’s Maintenance and Insulation, Scaffolding, and Corrosion Protection (ISP) business units will carry out the contract.
Pipeline Maintenance Services Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Pipeline Maintenance Services Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Pipeline Maintenance Services Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Pipeline Maintenance Services Industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Pipeline Maintenance Services Market along with the current trends and future estimations to depict imminent investment pockets. The overall Pipeline Maintenance Services industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Pipeline Maintenance Services Market are also analyzed.
Market Segments

By Service Type

  • Pigging
  • Flushing and Chemical Cleaning
  • Pipeline Repair and Maintenance
  • Drying
  • Others

By Location of Deployment

  • Onshore
  • Offshore

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
Read More

Hydrogen Projects Database
June, 2024

New York, June 2024: Global Hydrogen Projects Database is a new subscription offering from Global Insight Services that offers tracking of new green hydrogen production and electrolyzer projects. Subscribers to this service receive access to updates to projects database and newsletter summarizing key developments in the market on a monthly basis.

Green hydrogen is a new energy source, and governments and businesses are working harder to accelerate supply-side dynamics. Investments worth billions of dollars have been made public in order to assist the growth of greenfield projects and boost demand. The cost of manufacturing green hydrogen is already being reduced via efforts to scale technologies. Given the rapidly changing and evolving nature of project landscape, Green Hydrogen Projects Database is an essential source of market information for participants across the Hydrogen value chain.

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https://www.globalinsightservices.com/request-sample/GIS24651/

Key Benefits

  • Provides detailed information on all green hydrogen projects globally.
  • Understand key developments and emerging trends in the hydrogen market.
  • Keep abreast of emerging contracting opportunities as new projects are announced.
  • Analyze competitor activity and understand your market position.
  • Perform analysis on capacity by type, project development status, electrolyzer capacity, electrolyzer manufacturers, operators and participants etc.

Database Coverage

  • Over 1600 projects listed more being added on a daily basis
  • Over 90 countries
  • Project information
  • Plant/Complex name
  • Project location
  • Project ownership
  • Project participants/developers
  • Expected date of operation
  • Project status
  • Funding provider
  • Funding value
  • Expected total capital expenditure
  • Electrolyzer manufacturer
  • Electrolyzer type
  • Electrolyzer capacity
  • Type of renewable energy (primary energy source)
  • Hydrogen production capacity
  • Hydrogen end-users
  • EPC

Global Hydrogen Projects Database Findings

https://www.globalinsightservices.com/reports/hydrogen-projects-database/

Monthly Newsletter

Subscribers to the service also receive a monthly newsletter summarizing key developments in the sector by:

  • Project Announcements & Approvals
  • Contract Announcements
  • Investments and Fundings
  • Collaborations, Joint Ventures, and Partnerships
  • Hydrogen Policy

Key Green Hydrogen Companies

  • Air Liquide
  • Siemens
  • H2 Energy
  • Linde
  • Ørsted
  • ENGIE
  • BP
  • Sinopec
  • Uniper
  • Toshiba Corporation
  • Larsen & Toubro Ltd
  • Infinite Green Energy Ltd
  • En+ Group
  • Fortescue Future Industries
  • ScottishPower

Key Electrolyzer Manufacturers

  • Hydrogenics Corporation (Cummins Inc.)
  • thyssenkrupp
  • Nel Hydrogen
  • ITM Power
  • Siemens Energy
  • John Cockerill
  • Green Hydrogen Systems
  • McPhy
  • Fusion Fuel
  • VoltH2
  • Key EPC Companies
  • Uniper Energy
  • Linde
  • BP
  • Siemens
  • Technip Energies
  • thyssenkrupp
  • Larsen & Toubro Limited
  • PESTECH
  • TSK
  • Sumitomo Corporation

Green Hydrogen End Users

  • Industry Type
    • Steel Industry
    • Chemical Industry
    • Refineries
    • Ammonia
    • Other Industries
  • Transport
    • Ships
    • Aviation
    • Cars
    • Trucks
    • Buses
  • Power Generation & Storage
  • Others

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Recent Developments (May 2024)

1.Zen and DGA Collaborate on Green Hydrogen Initiative in Australia

May 30, 2024

Adelaide-based Zen Energy and DGA Energy Solutions Australia, a wholly-owned subsidiary of Mitsubishi, have recently formalized their collaboration through a memorandum of understanding (MoU). This strategic agreement underscores their joint commitment to advancing renewable energy initiatives, particularly in the realm of renewable hydrogen, with a shared goal of establishing sustainable value chains.

Founded in 2023, DGA Energy Solutions is Mitsubishi’s division devoted to renewable energy initiatives, such as the Oceania region’s green ammonia and green hydrogen projects. DGA’s Managing Director, Kentaro Matsumura, stated that the firm hopes to become the area’s leading provider of green hydrogen. Matsumura described their approach, which involves starting local production to meet the demands of Australian businesses before growing to export hydrogen-based goods to Asia.

Partnering with Zen Energy, a prominent figure in the energy transition landscape, DGA seeks to capitalize on Zen’s scalable renewable energy platform to realize its objectives. Zen Energy already boasts a portfolio of high-profile clients and actively pursues renewable energy projects, making it an ideal ally for DGA’s endeavors.

As part of a larger strategy to increase its market share in Australia’s growing green hydrogen industry, DGA has partnered with Zen Energy. Past endeavours include an arrangement with Adelaide-based tech business Entx to purchase a substantial share in the Limestone Coast Hydrogen Project (LCH2) in South Australia, and a partnership with Countrywide Hydrogen to fund studies for Victoria’s Portland Green Hydrogen project.

2.Chart Industries and Energy Vault Collaborate on Green Hydrogen Initiative

May 28, 2024

Energy Vault Holdings has chosen Chart Industries to provide an integrated system for storing liquid hydrogen and delivering fuel for a pioneering long-term energy storage endeavor in Calistoga, California. This collaboration aims to merge green hydrogen with a large-scale battery to furnish backup power for the municipality. The Calistoga initiative, once finalized, is anticipated to stand as the most extensive green hydrogen undertaking at a utility scale in the United States, establishing a model for forthcoming projects. The incorporation of Chart Industries’ advanced solutions for liquid hydrogen storage plays a vital role in shaping the hybrid energy storage system tailored for PG&E.

Chart Industries brings its expertise in liquid hydrogen storage technology, a critical component for the project’s triumph. Its innovative solutions are engineered to efficiently store liquid hydrogen, a pivotal aspect of the hybrid storage scheme.

Construction of the Calistoga green hydrogen project is scheduled to commence in the last quarter of 2023, with commercial operations projected to kick off by the conclusion of the second quarter of 2024. Though specific financial particulars remain undisclosed, the ambitious timetable underscores a swift development phase aimed at swiftly launching the project.

3.Pattern Energy Signs Green Hydrogen Agreement with Port of Argentia in Newfoundland

May 27, 2024

Pattern Energy’s recent collaboration with the Port of Argentia for the development of a green hydrogen project marks a notable milestone in the renewable energy scene of Newfoundland and Labrador.

The partnership between Pattern Energy and the Port of Argentia signifies a proactive move towards green hydrogen production. By securing access to 6,000 acres of private land, Pattern Energy avoids potential delays associated with Crown land approvals, showcasing strategic planning in navigating regulatory processes. This agreement underscores the company’s dedication to advancing green energy initiatives while overcoming bureaucratic obstacles.

Pattern Energy’s focus on ammonia production sets its proposal apart from conventional hydrogen-centric projects. By utilizing wind energy for green ammonia production, Pattern Energy taps into existing markets, particularly in fertilizer production, offering immediate economic viability. This practical approach aligns with current market needs and positions the project as a catalyst for regional economic development.

The shift towards green ammonia production responds to global market dynamics, particularly amidst supply chain disruptions and geopolitical tensions. Pattern Energy’s alignment with the ammonia market addresses crucial challenges in supply stability and diversification, thereby enhancing resilience against external disruptions. This market-driven strategy demonstrates the company’s adaptability to emerging trends and demands.

The Port of Argentia anticipates significant economic advantages from Pattern Energy’s green hydrogen initiative, including job creation, revenue generation, and infrastructure development. The potential of the project to stimulate local employment and spur regional growth underscores its importance as a driver of sustainable economic progress. Furthermore, the project’s scalability offers prospects for long-term prosperity and investment in Newfoundland and Labrador.

Pattern Energy’s foray into green hydrogen and ammonia production represents a pioneering endeavor in the renewable energy sector. With a proven track record of renewable energy projects across North America and Asia, Pattern Energy brings valuable expertise and resources to Newfoundland and Labrador’s green hydrogen landscape. This expansion into green hydrogen underscores the company’s commitment to innovation and sustainability.

4.px Group and HYDS Collaborate to Propel Green Hydrogen Innovation

May 24, 2024

px Group and Hydrogen Solutions (HYDS) have entered a strategic partnership, marking a significant step towards advancing green hydrogen innovation.

This collaboration between px Group and HYDS is positioned to meet the increasing demand for comprehensive hydrogen solutions within the renewable energy domain.

px Group has a well-established presence in the hydrogen sector, managing key energy and infrastructure assets across the UK and operating in various European regions including Norway, the Netherlands, and Germany. Teaming up with HYDS will bolster their ability to provide comprehensive hydrogen solutions.

HYDS, renowned for its management of the Stord Hydrogen and Kaupanes Hydrogen facilities in Norway, is actively pursuing new projects. These existing facilities and upcoming endeavors will benefit from enhanced plant designs developed through this partnership.

Anticipated to yield tangible outcomes, the partnership aims for initial final investment decisions (FIDs) by the first half of 2025. This timeline sets a clear trajectory for the development and execution of large-scale hydrogen initiatives. The standardized plant designs will be instrumental in ensuring scalability and operational efficiency.

As the collaboration progresses, both px Group and HYDS will navigate the intricate landscape of the hydrogen market, encompassing technological advancements, regulatory frameworks, and market dynamics. The success of this alliance will serve as a model for other hydrogen industry stakeholders, showcasing the transformative potential of strategic partnerships in propelling the energy transition.

5.Australia’s Strategy for Hydrogen Investment Sets the Stage for a Sustainable Energy Future

May 10, 2024

Australia’s recent announcement regarding increased investments in hydrogen production marks a significant stride towards transitioning to a power system aimed at achieving net-zero emissions.

Despite global hydrogen production reaching around 90 million tons annually, the predominant source remains fossil fuels, which is widely acknowledged as the least desirable method. Green hydrogen, produced through electrolysis powered by renewable energy sources, presents a more sustainable alternative. However, its widespread adoption necessitates substantial investments throughout the production and integration phases.

Part of the budget allocated for 2024-2025, supplemented by the Australian Renewable Energy Agency (ARENA), will be specifically earmarked to incentivize hydrogen production. The proposed incentive entails providing $2 USD for each kilogram of hydrogen generated between 2027 and 2040. This initiative aims to stimulate investment in green hydrogen infrastructure, thus reducing production costs and enhancing its competitiveness in the energy market.

Apart from incentivizing hydrogen production, ARENA has announced a $1.7 billion USD allocation for an innovation-centric project aimed at advancing climate technologies. This endeavor encompasses various sectors, including green metals, batteries, and low-carbon liquid fuels. By investing in these technologies, Australia aims to strengthen its clean energy ecosystem while fostering economic resilience and diversification.

Australia’s investment plan reflects a proactive approach towards establishing a sustainable and robust economy powered by clean energy. Treasurer Jim Chalmers underscored the plan’s significance in creating secure, well-paying jobs and attracting private sector investment. Nonetheless, several challenges and considerations must be addressed to ensure the plan’s efficacy and alignment with industry standards.

Read More

Global OEM Electrolyzer Projects Database
June, 2024

New York, June 2024: Global OEM Electrolyzer Projects Database is a new subscription offering from Global Insight Services that offers tracking of new hydrogen electrolyzer projects. Subscribers to this service receive access to updates to projects database on a monthly basis.

An electrolyzer is a device that uses electricity to drive a non-spontaneous chemical reaction, typically the electrolysis of water into hydrogen and oxygen. In this process, an electric current is passed through water, causing it to decompose into its constituent elements: hydrogen gas (H2) at one electrode and oxygen gas (O2) at the other electrode. Electrolyzers play a key role in the production of hydrogen for various industrial applications, energy storage, and as a clean fuel source for vehicles.

Given the rapidly changing and evolving nature of project landscape, Global OEM Electrolyzer Projects Database is an essential source of market information for participants across the hydrogen value chain.

Request Sample Pages of this Research Database

https://www.globalinsightservices.com/request-sample/GIS31409/

Key Benefits

  • Provides detailed information on all OEM electrolyzer projects globally on a live basis.
  • Keep abreast of emerging contracting opportunities as new projects are announced.
  • Analyze competitor activity and understand your market position.
  • Perform analysis on project development status, electrolyzer capacity, electrolyzer manufacturers, operators and participants among others.

Database Coverage

  • Above 550 projects listed and more being added on a daily basis
  • Over 55 countries listed
  • Project information
  • Plant/Complex name
  • Project location
  • Project ownership
  • Project participants/developers
  • Expected date of operation
  • Project status
  • Funding provider
  • Funding value
  • Expected total capital expenditure
  • Electrolyzer manufacturer
  • Electrolyzer type
  • Electrolyzer capacity
  • Hydrogen production capacity
  • Hydrogen end-users

Global OEM Electrolyzer Projects Database Findings

https://www.globalinsightservices.com/reports/global-oem-electrolyzer-projects-database/

Key Electrolyzer Manufacturers

  • Nel ASA
  • Siemens
  • McPhy Energy
  • ITM Power Plc
  • Gaztransport & Technigaz (Elogen)
  • Green Hydrogen Systems
  • iGas Energy GmbH
  • Next Hydrogen
  • Asahi Kasei
  • thyssenkrupp
  • Cummins (Hydrogenics)
  • Toshiba Corporation
  • Plug Power
  • John Cockerill
  • Enagas (H2Greem)
  • Sunfire GmbH
  • Bloom Energy
  • Air Liquide
  • Volkswagen AG (H-TEC SYSTEMS)
  • Enapter AG

Electrolyzer Technology

  • Alkaline (ALK) Electrolyzer
  • Proton Exchange Membrane (PEM) Electrolyzer
  • Solid Oxide Electrolyzer Cell (SOEC)
  • Others

Hydrogen End Users

  • Industry Type
    • Steel Industry
    • Chemical Industry
    • Refineries
    • Ammonia
    • Other Industries
  • Transport
    • Ships
    • Aviation
    • Cars
    • Trucks
    • Buses
  • Power Generation & Storage
  • Others

Have a question for our analyst

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Recent Developments (May 2024)

1.Clean Power Hydrogen Launched Innovative Membraneless Electrolyzers with Cryogenic Separation

May 30, 2024

Clean Power Hydrogen (CPH2) announced the launch of membraneless electrolyzers featuring cryogenic systems designed to separate hydrogen and oxygen. These electrolyzers are being produced in the United Kingdom, with production collaborations in Germany and New Zealand. The company anticipates a combined production capacity of 4 GW by 2030.

CPH2’s new technology aims to compete with proton exchange membrane (PEM) electrolysis in terms of efficiency and cost. According to CPH2 CEO Jon Duffy, the electrolyzer stack is constructed entirely of stainless steel, which simplifies scaling. The process involves mixing potable water with hydroxide ions (electrolytes) in the stack, generating a mixed gas of hydrogen and oxygen. This gas is then dried and sent to a cryogenic system for separation. The oxygen liquefies at around -200°C, leaving pure hydrogen gas and liquid oxygen. A patented three-stream heat exchanger is used to precool the incoming mixed gas with the regasifying oxygen and outgoing hydrogen.

Duffy claims the system is safer than PEM electrolyzers, as it avoids the risks associated with degrading membranes. Although the cryogenic separation process requires more power, the system overall uses less energy at the stack level because it doesn’t need to force electrons through membranes. The electrolyzers also avoid using critical raw materials, relying instead on standard equipment components like dryers and low-temperature systems cooled by liquid nitrogen.

CPH2 has already deployed small test units and is advancing tests in various locations. A 0.5 MW system is currently undergoing testing, with megawatt-scale systems expected to be on customer sites by the end of this year or early next year. The company, which holds the patent and intellectual property for this technology, plans to achieve 1 GW of manufacturing capacity by 2030, with an additional 3 GW coming from licensed partners.

Notably, CPH2 has agreements with Kenera Energy Solution, part of a Scottish-German company, to begin manufacturing electrolyzers in Germany next year. In New Zealand, Fabrum is providing the cryogenic system, already producing for the Australian and New Zealand markets. CPH2 also aims to expand production with a potential new site in Northern Ireland.

Once the business model proves successful in Germany and New Zealand, CPH2 plans to replicate it in other markets, reflecting their strategic growth and technological innovation in the hydrogen production industry.

2.GAIL Inaugurates of First Green Hydrogen Plant with Proton Exchange Membrane (PEM) Electrolyzer

May 27, 2024

The Gas Authority of India Ltd (GAIL) inaugurated its first green hydrogen plant at Vijaipur in Madhya Pradesh. The plant, featuring a 10 MW proton exchange membrane (PEM) electrolyzer, was officially opened by Pankaj Jain, Secretary of the Ministry of Petroleum & Natural Gas, and Sandeep Gupta, Chairman and Managing Director of GAIL. This significant development marks GAIL’s entry into the green hydrogen sector, aligning with the company’s renewable energy ambitions.

The facility is capable of producing 4.3 tonnes of green hydrogen per day at a pressure of 30 kg/cm², with a purity level of 99.999 percent. The hydrogen generated will be utilized as a fuel within GAIL’s Vijaipur complex, supporting various equipment and processes.

This initiative is part of India’s broader National Green Hydrogen Mission, which aims to bolster the country’s renewable energy capacity. To date, India has allocated tenders to incentivize the production of 412,000 tonnes of green hydrogen annually and is targeting an output of 5 million metric tons by 2030, with the goal of achieving energy independence by 2047.

The Indian government has also defined green hydrogen production standards, endorsing both electrolyzer and biomass-based methods, and is planning to establish 4-5 hydrogen valleys across the nation to foster the industry. This move follows a recent statement by India’s leading renewable energy official at the World Hydrogen Summit in the Netherlands, affirming India’s potential to meet global hydrogen demand.

3.Nel Hydrogen Electrolyser and Reliance Industries Enter Technology Licensing Agreement for Alkaline Electrolyzers in India

May 23, 2024

Nel Hydrogen Electrolyser, a subsidiary of the Norwegian company Nel ASA, announced a significant technology licensing agreement with Indian conglomerate Reliance Industries Limited (RIL). This agreement grants RIL an exclusive license to use Nel’s alkaline electrolyzer technology within India and allows RIL to manufacture these electrolyzers for their own global operations.

Both companies plan to collaborate on improving the performance and cost-effectiveness of the alkaline technology platform through joint research and development (R&D), value engineering, standardization, and modularization. This partnership also permits Nel to procure equipment from RIL for its own projects.

Nel will continue to offer other technology platforms in India that are not included in this agreement. Håkon Volldal, President and CEO of Nel, highlighted the significance of this deal as a major milestone, emphasizing that it provides Nel with access to a rapidly growing market and a new revenue stream. RIL, known for its large-scale projects and investments in innovation, is developing a multi-gigawatt integrated new energy value chain, where green hydrogen plays a key role.

Additionally, in 2024, Nel signed a contract for 10 MW of alkaline electrolyzer equipment with Samsung C&T Corporation for an off-grid green hydrogen production project in South Korea, valued at approximately €5 million. In 2023, Nel secured several other electrolyzer contracts, including a €9 million deal for 20 MW of equipment with Hyd’Occ for a hydrogen hub project in Port-La-Nouvelle, France.

4.Croatia’s First Green Hydrogen Facility to Utilize Ohmium’s PEM Electrolysers

May 21, 2024

US-based specialist in electrolysis technology, Ohmium International, has been chosen to provide proton exchange membrane (PEM) electrolysers for an innovative 10-megawatt green hydrogen endeavor at the Rijeka refinery in Croatia.

This endeavor, spearheaded by Croatian industrial engineering firm IVICOM, marks the inaugural green hydrogen venture in the Adriatic nation, signaling a significant stride towards sustainable fuel production in the area.

The Rijeka refinery, under the ownership of Croatian oil major INA dd, will serve as the site for the green hydrogen facility. The project’s plan involves integrating Ohmium’s PEM electrolysers with a newly established solar farm to generate green hydrogen and sustainable fuels tailored for the transportation sector. This initiative receives backing from Croatia’s Recovery and Resilience Facility, illustrating the government’s dedication to renewable energy and industrial decarbonization.

Internationally, the shift towards green hydrogen is gaining momentum as nations strive to curtail carbon emissions and fulfill climate objectives. Europe, notably, is making substantial investments in green hydrogen infrastructure as part of its hydrogen strategy. Croatia’s foray into this domain, while in its early stages, aligns with broader European endeavors to transition towards cleaner energy sources.

Ohmium’s PEM electrolysers are recognized for their compatibility with renewable energy sources, particularly solar power. These electrolysers will empower the Rijeka refinery to efficiently produce green hydrogen, capitalizing on the region’s solar potential. According to Ohmium CEO Arne Ballantine, the company’s technology is uniquely suited for refinery decarbonization and advancing green transportation.

PEM electrolysers are esteemed for their efficiency and adaptability to fluctuating power inputs, rendering them ideal for pairing with intermittent renewable sources. Siemens and ITM Power are among the companies also advancing similar technologies, positioning Ohmium’s contribution within a competitive and rapidly evolving market.

The Croatian government’s involvement through the Recovery and Resilience Facility underscores the strategic significance of this initiative. The government’s partial ownership of INA and support for green hydrogen and solar initiatives mirror a broader policy framework aimed at bolstering renewable energy adoption and diminishing dependence on fossil fuels.

5.India Advances Green Hydrogen Sector with Major Production and Electrolyser Manufacturing Projects

May 19, 2024

India made a significant advancement in green energy by awarding tenders for the production of 412,000 tonnes of green hydrogen and the manufacturing of 1.5 GW of electrolysers. This announcement was made by Bhupinder S Bhalla, Secretary of the Ministry of New & Renewable Energy (MNRE), during his address at the World Hydrogen Summit 2024 in the Netherlands. He highlighted India’s substantial progress under the Strategic Interventions for Green Hydrogen Transition (SIGHT) program, noting the country’s advantage in producing green hydrogen due to its low-cost renewable energy sources.

The National Green Hydrogen Mission, launched the previous year, aims to create a strong base for electrolyser manufacturing and green hydrogen production facilities in India. The MNRE has allocated ₹4,440 crore for electrolyser manufacturing from FY26 to FY30 under Component 1 of the SIGHT program. Additionally, ₹13,050 crore has been earmarked for green hydrogen production for the same period under Component 2, bringing the total financial incentives under SIGHT to ₹17,490 crore.

The Solar Energy Corporation of India (SECI) will oversee the implementation of these projects. The goal is to position India as a global leader in green hydrogen production, utilization, and export. The mission’s targets include achieving an annual production of 5 million tonnes of green hydrogen and establishing 125 GW of renewable energy capacity by 2030. This initiative is expected to significantly cut down fossil fuel imports and CO2 emissions, with projections indicating nearly 50 million tonnes of CO2 emissions could be avoided and ₹1 lakh crore saved in fossil fuel imports by the end of the decade. In line with these efforts, the Indian government established standards in August 2023 to ensure that green hydrogen is produced from renewable energy with minimal carbon emissions.

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Ventilation Equipment Market
May, 2024

New York, May 2024: According to a new research study by Global Insight Services (GIS), the global Ventilation Equipment Market is expected to grow rapidly over the next 10 years to reach a value of more than USD 11.5 billion by 2033.

Ventilation equipment is a system of mechanical components used to control the indoor air quality of a space. This includes the introduction of fresh air, the removal of stale air, and the circulation of air within the space. It is essential for providing a healthy and comfortable indoor environment and for preventing the buildup of pollutants and contaminants.

Ventilation equipment typically includes an air handler, which is the primary component of the system and is responsible for circulating air throughout the space. It is typically connected to ductwork, which distributes the conditioned air to different areas. The air handler is often connected to an air filter, which removes airborne contaminants and ensures the air is clean and of high quality. Additionally, the air handler may be connected to a humidifier, which adds moisture to the air and helps to maintain a comfortable humidity level.

Ventilation equipment may also include fans, which can be used to increase air movement and reduce the buildup of pollutants and contaminants. Fans are often connected to ductwork and can be used to supplement the air handler’s circulation. Additionally, ventilation equipment may include air diffusers, which are used to control the direction of airflow and can help to improve air distribution.

Ventilation equipment is essential for providing a healthy and comfortable indoor environment. It helps to ensure the air is of high quality and free of contaminants and pollutants. Additionally, it helps to maintain a comfortable temperature and humidity level. Properly maintained ventilation equipment can help to reduce energy costs, improve air quality, and extend the life of the system.

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Ventilation Equipment Market: Key Drivers and Trends

Ventilation equipment technology is an important part of the modern HVAC (Heating, Ventilation, and Air Conditioning) system, and it is constantly evolving. The technology has been refined over the years to provide more efficient and effective ventilation solutions for homes and businesses. As such, there are a number of key trends that have emerged in the ventilation equipment technology space in recent years.

One of the biggest trends in ventilation equipment technology is the emergence of energy-efficient systems. In the past, ventilation systems were often power-hungry and inefficient, but modern systems are much more energy-efficient, helping to reduce energy consumption and lower utility bills. Energy-efficient systems typically use more efficient motors and fans, as well as advanced control systems that can automatically adjust airflow and temperature based on occupancy and the outside environment. These systems can also be integrated with smart home technology for even greater energy savings.

Another trend in ventilation equipment technology is the increased use of IoT (Internet of Things) technology. IoT technology allows ventilation systems to be monitored and controlled remotely, making them more efficient and allowing for better monitoring of air quality. This type of technology can also be used to automate the system, allowing for more precise control of air quality and temperature in a building.

Ventilation Equipment Market: Restraints and Challenges

Ventilation equipment is a crucial component of any building, as it helps to circulate air throughout the space. However, there are some key restraints and challenges that can affect the market for ventilation equipment.

The first key restraint is the cost of ventilation equipment. Ventilation systems can be expensive, especially when they include high-end features such as air filtration and humidity control. As a result, many buildings are unable to purchase the equipment they need due to budget constraints. Additionally, the installation of ventilation equipment can also be costly, as it requires professional expertise and specialized tools.

Another key restraint is the availability of qualified technicians. Installing and maintaining ventilation equipment requires a skilled professional, as the equipment must be installed correctly in order to function properly. However, there is a shortage of qualified technicians in many areas, which can make it difficult to find someone to install and maintain the equipment.

Ventilation Equipment Market Report Findings

https://www.globalinsightservices.com/reports/ventilation-equipment-market

The air handling unit segment is anticipated to dominate the market during the forecast period

By type, the market is divided into air handling unit, ventilation control system, and others. The air handling unit segment dominated the market in 2023 and it is anticipated to be the fastest during the forecast period. The segment is experiencing growth due to the increasing demand for energy-efficient HVAC systems and the need to improve indoor air quality (IAQ). AHUs are critical in commercial and industrial buildings for regulating and circulating air, ensuring optimal temperature, humidity, and filtration. Trends include the integration of smart technologies for better control and monitoring, and the use of advanced filtration systems to remove pollutants and allergens. Additionally, stringent building regulations and sustainability initiatives are driving the adoption of AHUs with higher energy efficiency and lower environmental impact.

The healthcare segment is anticipated to dominate the market during the forecast period

By end-use industry, the market is bifurcated into healthcare, education, retail, and others. The healthcare segment dominated the market in 2023 and it is anticipated to be the fastest during the forecast period. The need for stringent infection control and improved indoor air quality (IAQ). The Covid-19 pandemic underscored the critical importance of effective ventilation in preventing the spread of airborne pathogens, leading to increased investments in advanced HVAC systems in hospitals and healthcare facilities. Innovations such as HEPA filters, UV-C light disinfection, and negative pressure rooms are becoming standard to enhance patient and staff safety. Additionally, regulatory standards and guidelines from health authorities emphasize the adoption of high-performance ventilation systems in healthcare environments.

The mechanical ventilation segment is anticipated to dominate the market during the forecast period

By technology, the market is divided into mechanical ventilation, natural ventilation and hybrid ventilation. The mechanical ventilation segment dominated the market in 2023 and it is anticipated to be the fastest during the forecast period. The advancements in energy-efficient systems and increasing awareness of indoor air quality. Innovations such as variable air volume (VAV) systems, energy recovery ventilators (ERVs), and demand-controlled ventilation (DCV) are gaining popularity for their ability to optimize airflow and reduce energy consumption. The growing focus on green building certifications, such as LEED, also encourages the adoption of advanced mechanical ventilation solutions. Additionally, the Covid-19 pandemic has heightened the importance of effective mechanical ventilation in mitigating airborne virus transmission, further boosting demand in healthcare and commercial sectors.

The North America region is anticipated to dominate the market during the forecast period

Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World. North America has dominated the regional segment in 2023 and Asia Pacific is anticipated to be the fastest growing region in the coming years. The region is primarily driven by stringent regulations and standards aimed at improving indoor air quality and energy efficiency. Organizations like the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) set rigorous guidelines that necessitate advanced ventilation solutions in commercial and residential buildings. Additionally, the increasing awareness of the health impacts of poor indoor air quality has spurred demand for more effective ventilation systems. Technological advancements, such as the integration of smart ventilation systems with IoT capabilities, also play a crucial role. These systems offer enhanced control and monitoring, leading to optimized energy usage and improved air quality. The rise of green building initiatives and sustainable construction practices further boosts market growth, as these projects often prioritize high-efficiency ventilation solutions. Moreover, the Covid-19 pandemic has underscored the importance of proper ventilation in preventing airborne diseases, prompting businesses and institutions to upgrade their ventilation systems, thus driving market demand.

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Competitive Landscape

The global ventilation equipment market report includes players such as Greenheck Fan Corporation – USA, Zehnder Group AG – Switzerland, TROX GmbH – Germany, Vent-Axia – United Kingdom, Delta Electronics, Inc. – Taiwan, Titus HVAC – USA, FläktGroup – Sweden, Havells India Limited – India, LG Electronics Inc. – South Korea, and Midea Group Co., Ltd. – China.

Recent Developments

  • In January 2024, Samsung has partnered with British Gas to provide its full range of low-carbon heat pump systems and energy management tools to domestic customers. This collaboration is part of broader industry efforts to reduce energy demand and carbon emissions. The agreement will enable utilities and heat suppliers to offer Samsung’s energy-efficient systems and management app to households.
  • In October 2023, Safran and Turkish Technic have signed a contract to maintain APU generators, engine harnesses, and ventilation systems equipment for over 500 Airbus A320 and A330 aircraft. Safran Electrical & Power will handle the repair and maintenance of APU generators and engine harnesses, while Safran Ventilation Systems will maintain the ventilation equipment. Turkish Technic will benefit from these repair services and exchange support for APU generators. This agreement aims to enhance Turkish Technic’s in-house repair operations and boost its competitiveness.
  • In April 2020, Hyundai Motor India announced on Saturday that it has partnered with Air Liquide Medical Systems Pvt. Ltd. (ALMS) to boost the production of ventilators in India amid the ongoing Covid-19 pandemic. ALMS, an ICU ventilator manufacturer, will receive support from Hyundai to increase production capacity and improve the supply chain. Together, they aim to produce 1,000 ventilators in the first phase, with plans for further production in subsequent phases.
Ventilation Equipment Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Ventilation Equipment Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of  Ventilation Equipment Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Ventilation Equipment Market .
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Ventilation Equipment Market along with the current trends and future estimations to depict imminent investment pockets. The overall Ventilation Equipment Market opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Ventilation Equipment Market are also analyzed.
Market Segments

By Type

  • Air Handling Units
  • Ventilation Control Systems
  • Others

By End-Use Industry

  • Healthcare
  • Education
  • Retail
  • Manufacturing
  • Others

By Technology

  • Mechanical Ventilation
  • Natural Ventilation
  • Hybrid Ventilation

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
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Direct Methanol Fuel Cell Market
May, 2024

New York, May 2024: According to a new research study by Global Insight Services (GIS), the global Direct Methanol Fuel Cell Market is expected to grow rapidly over the next 10 years to reach a value of more than USD 8.3 billion by 2033.

Direct methanol fuel cells (DMFCs) are a type of fuel cell that uses methanol as a fuel. DMFCs are similar to other fuel cells, such as hydrogen fuel cells, but have some unique properties that make them well-suited for certain applications.

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Direct Methanol Fuel Cell Market: Key Drivers and Trends

The key trends in Direct Methanol Fuel Cell technology are miniaturization, portability, and integration. Miniaturization is necessary for portability, and integration is necessary for efficiency.

Portability is an important trend because it allows fuel cells to be used in a variety of applications, including portable electronics, automotive, and military.

Integration is another key trend because it improves efficiency and reduces costs. Fuel cells are being integrated into microchips, batteries, and other devices.

The trend toward miniaturization is driven by the need for fuel cells that are smaller, lighter, and more portable. This trend is necessary for fuel cells to be used in a variety of applications, including portable electronics, automotive, and military. The trend toward integration is driven by the need for fuel cells that are more efficient and less expensive. Fuel cells are being integrated into microchips, batteries, and other devices.

The key drivers of the direct methanol fuel cell market are the rising demand for portable electronic devices, the need for clean and efficient energy sources, and the increasing awareness about the environmental benefits of fuel cells.

The portable electronic device market is one of the key drivers of the direct methanol fuel cell market. The increasing popularity of portable electronic devices, such as laptops, tablets, and smartphones, has led to the need for compact and efficient power sources.

The need for clean and efficient energy sources is another key driver of the direct methanol fuel cell market. With the increasing awareness about the harmful effects of greenhouse gas emissions, there is a growing need for energy sources that are clean and efficient.

The increasing awareness about the environmental benefits of fuel cells is another key driver of the direct methanol fuel cell market. Fuel cells offer a number of environmental benefits, such as reduced greenhouse gas emissions, improved air quality, and reduced noise pollution.

Direct Methanol Fuel Cell Market: Restraints and Challenges

One of the key restraints in the Direct Methanol Fuel Cell market is the high cost of fuel cells. Fuel cells are typically more expensive than traditional combustion engines, making them less attractive for many consumers. Additionally, fuel cells require a constant supply of hydrogen, which can be difficult to store and transport.

Water Heating Electric Blankets Market Report Findings

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The membrane segment is anticipated to dominate the market during the forecast period

By component, the market is divided into electrode, membrane, balances of system, and balance of stack. The membrane segment dominated the market in 2023 and it is anticipated to be the fastest during the forecast period. The continuous innovation and development of advanced membrane materials with enhanced performance characteristics such as proton conductivity, chemical stability, and durability. Additionally, the increasing demand for compact, lightweight, and efficient DMFC systems drives the adoption of high-performance membrane components. Moreover, research and development initiatives focused on improving membrane manufacturing processes and reducing production costs contribute to market growth. Overall, advancements in membrane technology play a crucial role in driving the efficiency and competitiveness of DMFCs in various applications.

The portable segment is anticipated to dominate the market during the forecast period

Based on application, it is bifurcated into portable, stationary, and transportation. The portable segment dominated the market in 2023 and it is anticipated to be the fastest during the forecast period. The growing demand for portable power solutions in applications such as consumer electronics, military devices, and remote sensors. This trend is driven by the need for reliable and long-lasting power sources in off-grid and mobile environments. Additionally, advancements in DMFC technology, including improvements in power density, efficiency, and durability, are driving the adoption of DMFCs in portable applications. Moreover, increasing environmental concerns and the shift towards clean energy solutions are further fueling the demand for DMFCs as an eco-friendly power source for portable devices.

The North America region is anticipated to dominate the market during the forecast period

Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America has dominated the regional segment in 2023 and Asia Pacific is anticipated to be the fastest growing region in the coming years. One notable trend is the increasing adoption of clean energy technologies and the growing emphasis on reducing carbon emissions in the region. This has led to a rising demand for DMFCs, particularly in applications such as portable power generation, backup power systems, and unmanned aerial vehicles (UAVs). Moreover, technological advancements and R&D investments by key players in North America have led to improved DMFC performance, efficiency, and durability, making them more competitive and viable for a wider range of applications. Government initiatives and incentives to promote renewable energy and innovation further fuel market growth. Additionally, partnerships between industry players and research institutions facilitate the development and commercialization of DMFC technology in North America, driving market expansion and innovation.

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Competitive Landscape

The Direct Methanol Fuel Cell Market includes players such as Blue World Technologies ,  Oorja Photonics Inc., Meoh Power  ,Viaspace, Roland Gumpert, Fujikura Limited, Antig Technology, Treadstone Technologies, Horizon Fuel Cell Technologies, and SFS Energy AG.

Direct Methanol Fuel Cell Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Direct Methanol Fuel Cell Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Direct Methanol Fuel Cell Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Direct Methanol Fuel Cell industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Direct Methanol Fuel Cell Market along with the current trends and future estimations to depict imminent investment pockets. The overall Direct Methanol Fuel Cell industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Direct Methanol Fuel Cell Market are also analyzed.
Market Segments

By Component

  • Electrode
  • Membrane
  • Balance of System
  • Balance of Stack

By Application

  • Portable
  • Stationary
  • Transportation

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
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Water Heating Electric Blankets Market
May, 2024

New York, May 2024: According to a new research study by Global Insight Services (GIS), the global Water Heating Electric Blankets Market is expected to grow rapidly over the next 10 years to reach a value of more than USD 2,287.0 million by 2033.

Water heating electric blankets are electric blankets that are designed to provide an efficient way to heat your bedding. They are typically made from a waterproof material and are filled with water. The water is heated to a set temperature by an electric heating element, and the heat is then transferred to the bedding.

The main benefit of water heating electric blankets is that they are more efficient than traditional electric blankets, as the water acts as an insulator, trapping the heat and reducing the amount of energy required to heat the bedding. Additionally, the water-filled blanket is much lighter and thinner than traditional electric blankets, making them easier to store and transport.

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Water Heating Electric Blankets Market: Key Trends and Drivers

Water heating electric blankets are an increasingly popular way to keep warm during the winter months. They provide a convenient and energy-efficient way to heat your bed, and can even be used to pre-heat your bed before you get in. As technology advances, the number of features available in water heating electric blankets is increasing, and the technology is becoming more efficient and user-friendly. In this article, we will discuss some of the key trends in water heating electric blankets technology.

One of the most notable trends in water heating electric blankets technology is the increased use of advanced materials. Many modern electric blankets are made from high-tech synthetic materials that are designed to be both lightweight and durable. These materials are also resistant to fire and other hazards, making them much safer to use than traditional electric blankets. Additionally, many electric blankets now feature built-in temperature sensors that allow the user to adjust the temperature to their desired level.

Another key trend in water heating electric blankets technology is the use of smart technology. Smart electric blankets are now available that can be controlled remotely using a smartphone or tablet. This allows users to adjust the temperature and other settings from anywhere in the home. Additionally, many of these blankets now feature sleep tracking technology, which can help users monitor their sleep patterns and make adjustments to their bedding accordingly.

Water Heating Electric Blankets Market: Restraints and Challenges

The key restraints and challenges in the water heating electric blankets market are the cost of the blankets, the safety and reliability of the blankets, and the environmental impact of the blankets.

Cost: Water heating electric blankets are more expensive than traditional electric blankets, as they require additional components such as a water heater and a pump to circulate the water. This additional cost can be prohibitive for many consumers, making it difficult for the market to grow.

Safety and Reliability: Electric blankets, in general, have a reputation for being unsafe due to the possibility of overheating or short-circuiting. Water heating electric blankets introduce an additional risk, as they can potentially leak water, especially if they are not properly maintained. This can lead to a risk of electric shock or fire, which can be a deterrent for consumers.

Environmental Impact: Water heating electric blankets require more energy to operate than traditional electric blankets, as they need to heat the water as well as the blanket. This can lead to an increased environmental impact, as more energy is being consumed. Additionally, the water that is used in the blankets must be properly disposed of, as it is not suitable for reuse.

Water Heating Electric Blankets Market Report Findings

https://www.globalinsightservices.com/reports/water-heating-electric-blankets-market

The double segment is anticipated to dominate the market during the forecast period

By Size, the market can be divided into Single, Double, and Others. The double segment dominated the market in 2023 and it is anticipated to be the fastest during the forecast period. One significant trend is the increasing preference for home comfort and wellness products. As more people prioritize creating a cozy and warm home environment, particularly during colder months, the demand for double-size electric blankets, which offer enhanced coverage and comfort, is rising. Another driver is the shift towards energy-efficient home heating solutions. Double-size water heating electric blankets are seen as a cost-effective and energy-efficient alternative to traditional heating systems. They allow users to warm their beds without heating the entire room, leading to lower energy consumption and reduced utility bills. The growth of e-commerce platforms has also contributed to the market expansion. Consumers are increasingly purchasing home comfort products online, benefiting from the convenience and variety offered by online shopping. Additionally, advancements in product technology, such as the integration of smart controls and timers, are enhancing the appeal of double-size electric blankets by offering greater customization and ease of use.

The Electric Under Blankets segment is anticipated to dominate the market during the forecast period

By Type, the market can be divided into Electric Under Blankets and Electric Over Blankets. The Electric Under Blankets segment dominated the market in 2023 and it is further anticipated to be the fastest during the forecast period. Due to increasing consumer awareness of energy efficiency and home comfort. These blankets offer targeted warmth, reducing the need for whole-room heating and lowering energy bills. Technological advancements, such as precise temperature controls and safety features, enhance their appeal. The rise in e-commerce facilitates easy access and variety, driving sales. Additionally, the trend towards smart home products, with integration of timers and remote controls, boosts their popularity. Increased disposable incomes and urbanization further propel demand, especially in colder regions where maintaining warmth is essential.

The Online Retail segment is anticipated to dominate the market during the forecast period

By Distribution Channel, the market can be divided into Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others. The Online Retail segment dominated the market in 2023. The convenience of online shopping, coupled with the availability of a wide range of products and competitive pricing, attracts consumers. Enhanced e-commerce platforms, easy return policies, and detailed product descriptions boost consumer confidence. Additionally, the rise of digital marketing and targeted advertisements increase product visibility. The COVID-19 pandemic accelerated the shift towards online shopping, making it a preferred channel. Consumers’ increasing reliance on online reviews and ratings also plays a significant role in driving sales through this channel.

The North America region is anticipated to dominate the market during the forecast period

By region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. The North America regional segment has highest market growth in 2023. The growth is attributed to the increasing awareness about energy efficiency and the need for cost-effective heating solutions are key drivers. Consumers are opting for water heating electric blankets as they provide consistent warmth at lower energy consumption compared to traditional heating methods. Additionally, the rising demand for smart home products and integration with home automation systems are influencing market growth. Cold weather conditions, particularly in northern regions, boost the demand for these blankets. The market is also benefiting from technological advancements, such as improved safety features and customizable temperature settings. E-commerce growth in the region facilitates easier access to a variety of products, contributing to higher sales. Furthermore, increased health consciousness, with consumers seeking therapeutic benefits for muscle relaxation and improved sleep quality, supports the market expansion in North America.

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Competitive Landscape

The market includes players such as Jarden Corporation (U.S.), Shanghai Shenda Co. Ltd(China), Morphy Richards Ltd (United Kingdom), Snugnights UK LLP(United Kingdom), Beurer GmbH (Germany), Caiyang (China), Slumberdown(United Kingdom),Shijiazhuang Mengjie Industry Co. Ltd. (China), Silentnight Group Ltd. (United Kingdom), and Shanghai Easun Group (China).

Water Heating Electric Blankets Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the currentWater Heating Electric Blankets Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis ofWater Heating Electric Blankets Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of theWater Heating Electric Blankets Industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of theWater Heating Electric Blankets Market along with the current trends and future estimations to depict imminent investment pockets. The overall Water Heating Electric Blankets industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Water Heating Electric Blankets Market are also analyzed.
Market Segments

By Size

  • Single
  • Double
  • Others

By Type

  • Electric Under Blankets
  • Electric Over Blankets

By Distribution Channel

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Retail
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
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Surge Arrester Market
April, 2024

New York, April 2024: According to a new research study by Global Insight Services (GIS), the Surge Arrester Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 2.5 billion by 2033.

A surge arrester, or surge protector, is an electrical device designed to safeguard electronic equipment from sudden voltage spikes and surges. It works by intercepting excessive electrical energy and redirecting it to the ground, shielding connected devices from damage. Surge arresters remain inactive during normal voltage flow but become active during spikes, conducting excess energy to the ground. They are typically installed at entry points of electrical systems, like distribution panels, to protect the entire system. Surge arresters come in various types tailored for different applications, from industrial machinery to residential use.

These devices adhere to standards such as IEEE C62.11 and IEC 60099-4 and are essential due to various sources of voltage surges, including lightning strikes, switching surges, and temporary over-voltages. Lightning, occurring about 100 times per second globally, is a primary cause of voltage surges. Switching surges arise from operational changes within systems, while temporary over-voltages result from faults and can cause significant damage if not managed. Surge arresters mitigate these risks by diverting, limiting, and protecting against voltage spikes, ensuring the smooth operation and longevity of electronic equipment.

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Global Surge Arrester Market: Market Drivers and Trends

Increasing Need for Dependable and Uninterrupted Power Supply

The surge arrestor market is currently experiencing a notable trend driven by the increasing need for dependable and uninterrupted power supply, particularly in regions grappling with electricity infrastructure challenges like Nigeria and India.

In April 2024, the Minister of Power, Adebayo Adelabu, emphasized the urgent requirement of $10 billion annually for the next decade to rejuvenate Nigeria’s struggling electricity generation, distribution, and supply chain. This substantial investment indicates a concerted effort to address the existing deficiencies in the power infrastructure, thereby creating a significant demand for surge arrestors to safeguard equipment from voltage spikes and ensure reliable power delivery. Similarly, in April 2024, India, another major market for surge arrestors, witnessed a surge in power demand. The Ministry of Power projected a peak power demand of 260 GW for the summer season, surpassing previous records. This heightened demand underscores the necessity for robust power protection measures, including surge arrestors, to mitigate the risks associated with voltage fluctuations and grid instability during periods of peak demand.

Furthermore, the transformation of India’s power sector over the past few years, as highlighted by the Union Minister for Power and New & Renewable Energy in 2023, has resulted in a substantial increase in power generation capacity, ensuring adequate availability of electricity. However, with increased power generation comes the need for enhanced protection against electrical disturbances, driving the adoption of surge arrestors to maintain the integrity of the expanding power infrastructure.

Growing Adoption of Smart Grids

The surge arrestor market is experiencing significant growth propelled by the widespread adoption of smart grids, fueled by substantial investments and technological advancements in digital infrastructure across the globe.

In various major economies, substantial funds are being allocated to modernize and digitize electricity grids. For instance, the European Commission’s EU action plan “Digitalisation of the energy system” outlines investments of approximately EUR 584 billion by 2030, with a significant portion dedicated to grid digitalization. Similarly, China has earmarked USD 442 billion for modernizing its power grids from 2021 to 2025, reflecting a concerted effort to enhance grid efficiency and reliability. Moreover, Japan’s funding program of USD 155 billion and India’s INR 3.03 trillion scheme demonstrate a commitment to upgrading power distribution infrastructure to meet growing demand and improve system resilience. The deployment of variable renewables and electrification in various sectors is placing increasing strain on power systems. Smart grid technologies play a crucial role in addressing these challenges by enabling real-time monitoring and optimization of grid operations. This capability allows for the efficient utilization of existing resources, ensuring grid stability and reliability even amidst fluctuating demand and supply dynamics. As a result, investments in grid-related digital infrastructure are growing, with around 7% increase observed in 2022 compared to the previous year.

Global Surge Arrester Market: Market Restraints and Challenges

Substitute Technologies for Surge Arrestors

The surge arrestor market faces several restraints, particularly in the form of substitute technologies that offer comparable or alternative surge protection solutions, thereby challenging the market’s growth and profitability.

The presence of substitute technologies offering surge protection capabilities. While surge arrestors have long been the go-to solution for safeguarding electrical systems against voltage spikes, alternative technologies such as voltage regulators, lightning rods, or integrated circuit-based surge protection devices are gaining traction. These substitutes often offer similar surge protection capabilities and may even provide additional functionalities or advantages, such as faster response times or integration with smart grid systems.

The emergence of substitute technologies poses a competitive threat to traditional surge arrestors, leading to market fragmentation and pricing pressures. As consumers and businesses explore alternative surge protection options, manufacturers and suppliers of surge arrestors may face challenges in maintaining market share and sustaining profit margins. Moreover, the availability of substitute technologies may lead to commoditization within the surge protection market, with a focus on price rather than product differentiation or innovation.

Navigating the Grid: Challenges of Long Lead Times and Project Delays

In December 2023, the surge arrestor market faced persistent challenges stemming from long lead times and project delays, as evidenced by data indicating a decline in the share of delayed central infrastructure projects for the second consecutive month. According to a November 2023 report by the Ministry of Statistics and Programme Implementation (MOSPI), which encompasses projects valued at Rs 150 crore or above, approximately 46.1% of projects faced delays. While this marked a slight improvement from previous months, the prevalence of project delays remained a significant concern for the industry.

The MOSPI report revealed that out of a total of 845 delayed projects, the average delay stood at 36.6 months as of November. This prolonged delay significantly impacts the surge arrestor market, as projects requiring the installation of surge protection equipment experience setbacks in implementation and completion timelines. Moreover, the distribution of delays across different time frames further underscores the magnitude of the challenge, with 38% of projects delayed for 25-60 months, 24% for 1-12 months, 23% for 13-24 months, and 14% for more than 60 months.

Global Surge Arrester Market Report Findings

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The porcelain segment is likely to hold the major share of the market in 2023

On the basis of  material, the Surge Arrester Market is segmented into polymer, and porcelain. Among these, in 2023, the porcelain segment in the surge arrester market has witnessed significant growth owing to its superior material properties. The porcelain was valued at USD 583.7 Million in 2023 and it is anticipated to grow further to USD 897.5 Million by 2033, at a CAGR of 4.5% during the forecast period. The polymer material segment in the surge arrester market is experiencing significant growth, driven by several key factors. One of the primary catalysts is the increasing demand for renewable energy sources to achieve carbon neutrality. As countries worldwide strive to transition to cleaner energy sources, there is a heightened emphasis on ensuring the reliability and resilience of power grids. This heightened focus underscores the importance of surge arresters in protecting power transmission and distribution facilities from overvoltage caused by lightning strikes, ultimately bolstering the demand for these protective devices.

The distribution class segment is likely to hold the major share of the market in 2023

On the basis of class, the Surge Arrester Market is segmented into distribution class, intermediate class, and station class. Among these, in 2023, the distribution class segment has emerged as a noteworthy driver of growth over the past year. The distribution class segment is anticipated to dominate the market during the forecast period. The segment was valued at USD 811.7 Million in 2023 and it is anticipated to grow further to USD 1,294.0 Million by 2033, at a CAGR of 4.8% during the forecast period. This is attributed to the expanding demand across various distribution class segments. This surge in growth can be attributed to the increasing awareness and adoption of advanced technologies to safeguard electrical systems from voltage spikes and transient overvoltages. In particular, the distribution class segment has witnessed a notable uptick as utilities and industries recognize the critical importance of reliable surge protection in enhancing the overall resilience of their power distribution networks. This trend is expected to persist as the market continues to evolve, with ongoing developments in technology and a heightened emphasis on ensuring uninterrupted power supply across diverse applications.

The high voltage segment is likely to hold the major share of the market in 2023

On the basis of voltage, the Surge Arrester Market is segmented into low voltage, medium voltage, and high voltage. Among these, in 2023, the high voltage segment has emerged as a noteworthy driver of growth over the past year. The High voltage segment I accounted for the largest market share in the year 2023. The segment was valued at USD 830.2 Million in 2023 and it is anticipated to grow further to USD 1,292.8 Million by 2033, at a CAGR of 4.8% during the forecast period. This is attributable to the increased demand for robust voltage protection solutions. As industries and infrastructure continue to expand, there is a growing need to safeguard electrical systems from voltage surges and transient overvoltages. The high voltage surge arrester segment is witnessing a surge in adoption due to its ability to effectively mitigate the risks associated with elevated voltage levels, ensuring the reliability and longevity of electrical equipment. This trend is indicative of a broader emphasis on enhancing the resilience of power distribution networks and sensitive electronic devices, ultimately contributing to the overall advancement of electrical safety measures in various applications.

The gas insulated substation (GIS) segment is likely to hold the major share of the market in 2023

Based on application, the Surge Arrester Market is segmented into air insulated substation (AIS), and gas insulated substation (GIS). Out of these, in 2023, gas insulated substation (GIS) segment emerging as a key contributor to this expansion. The Air Insulated Substation segment is anticipated to dominate the market during the forecast period. The segment was valued at USD  1,077.3 Million in 2023 and it is anticipated to grow further to USD 1,698.8 Million by 2033, at a CAGR of 4.7% during the forecast period. This expansion can be attributed to the increasing adoption of GIS technology in power distribution systems, where space constraints and environmental considerations are critical factors. GIS provides a compact and efficient solution, enhancing the overall reliability and performance of substations. As the need for reliable power transmission and distribution infrastructure rises globally, the surge arrester market, particularly in the GIS segment, is poised for continued growth, driven by the imperative to ensure the uninterrupted and safe operation of electrical networks.

The residential segment is likely to hold the major share of the market in 2023

Based on end-user, the Surge Arrester Market is bifurcated into residential, commercial, industrial, and utility. Among these, in 2023,  the residential segment in the Surge Arrester Market has witnessed remarkable growth. The utility segment is anticipated to dominate the market during the forecast period. The segment was valued at USD 878.7  Million in 2023 and it is anticipated to grow further to USD 1,392.7 Million by 2033, at a CAGR of 4.8% during the forecast period driven by increased awareness and demand for enhanced electrical protection among end-users. As homeowners become more cognizant of the potential risks associated with power surges, such as damage to sensitive electronic devices and appliances, the adoption of surge arresters has seen a significant uptick. This surge in demand can be attributed to a growing emphasis on safeguarding residential electrical systems against voltage fluctuations and lightning-induced surges. The residential segment’s expansion in the surge arrester market underscores the importance that end-users place on securing their homes from electrical disturbances, contributing to the overall positive trajectory of the industry.

The North America region is accounted for the majority of market share in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is anticipated to dominate the market during the forecast period. The region was valued at USD  676.0  Million in 2023 and it is anticipated to grow further to USD  1,058.0 Million by 2033, at a CAGR of 4.6% during the forecast period. The Asia Pacific (APAC) region is experiencing significant growth in the surge arrester market due to several key trends and drivers. One significant trend is the increasing demand for electricity, driven by rapid urbanization, industrialization, and infrastructure development across emerging economies. As countries in APAC continue to invest in power generation, transmission, and distribution infrastructure to meet rising energy demands, the need to protect electrical equipment and systems from transient over voltages becomes paramount, thereby driving the demand for surge arresters. For instance, a recent analysis by Wood Mackenzie projects that the Asia Pacific (APAC) region will invest a substantial $3.3 trillion in power generation over the next ten years. Nearly half of this investment, about 49%, is predicted to be directed towards wind and solar energy projects, with an additional 12% allocated for energy storage initiatives. India and China are anticipated to take the lead in these investment efforts.

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Competitive Landscape

To obtain a competitive edge in the rapidly expanding Surge Arresters Market, players are focusing on strategic collaborations to enhance their product offerings. Some prominent participants in the Surge Arrester Market Report includes TE Connectivity, ABB Ltd., CG Power & Industrial Solutions Ltd., CHINT Group, DEHN SE, Eaton, Ensto, Elpro, General Electric Company, Hubbell, INAEL, S.A., Izoelektro, Raycap Corporation SA, Siemens Energy, Surgetek, Schneider Electric SE, Leviton Manufacturing Company, Inc.,, TDK Electronics AG, Mitsubishi Electric Corporation (Mitsubishi Electric), and Maclean Power Systems among others.

Global Surge Arrester Market: Recent Developments

  • In July 2023, The city of Charleston is close to finalizing a design agreement with the Army Corps of Engineers for constructing a storm surge protection barrier on the peninsula. According to Chief Resilience Officer Dale Morris, the city has been conducting studies over the past few years to determine the feasibility of the project. These studies have recently concluded, confirming that the project is indeed viable and can be built.
  • In March 2023, ABB is strengthening its presence in the US market and utility sector by establishing a new manufacturing facility in Albuquerque, New Mexico, for its Installation Products Division, previously known as Thomas & Betts. The construction of the 90,000 square-foot facility is in progress, representing a $40 million investment. This new site will generate 55 job opportunities and manufacture cable products utilized by electric utility providers for grid enhancement and resilience projects. As the US is expected to have over 75,000 miles of underground cabling by 2040, ABB’s facility will cater to the growing demand for its Elastimold® solutions, crucial for wildfire prevention and grid reinforcement initiatives. Equipped with ABB Robotics technology and digital automation, the Albuquerque plant is projected to produce over 1 million additional units annually upon its completion in 2024, with the majority serving customers in the US.
  • In November 2021, Hitachi ABB Power Grids inaugurated a state-of-the-art surge arrester manufacturing facility in Xiamen, situated in the Fujian Province of Eastern China.
  • In September 2021, Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) has announced plans to significantly increase its production capacity for polymer housed surge arresters by April 2022. These surge arresters protect power transmission and distribution equipment from overvoltage caused by lightning strikes. With the growing demand for renewable energy and the need for reliable power grids, the importance of surge arresters is on the rise. Polymer housed surge arresters offer advantages such as durability, lightweight design, and resistance to pollution and seismic activity. Toshiba ESS’s surge arresters, equipped with zinc oxide elements developed in-house, are known for their high reliability and lightning energy absorption capability. Since introducing these surge arresters in 2001, Toshiba has supplied over 50,000 units worldwide, with continuous improvements in lightning impulse-withstanding capability.
  • In July 2021, Infineon Technologies, based in Munich, and Amber Solutions, based in California, have joined forces to bring solid-state technology to the market for controlling electricity digitally using silicon with embedded intelligence. Amber’s solid-state technology is expected to find applications in various devices such as smart circuit breakers, light switches, dimmers, and outlets used in both residential and commercial buildings worldwide. This technology offers intelligent power management in a compact silicon chip, which will be combined with Infineon’s power switch and control technologies. The partnership with Infineon provides a significant boost to the small-sized Amber, which has its base in Dublin, California. Despite having a workforce of 22 employees, Amber has secured $12 million in investments between 2020 and 2021. Over the past four years, Amber has been developing its solid-state technology and has already filed over 40 patents based on its core technologies, with several grants secured. Infineon’s acquisition of U.S.-based Cypress Semiconductor in April 2020 has further strengthened its position in the semiconductor industry, making it one of the top 10 largest semiconductor companies globally with revenues exceeding $10 billion in fiscal 2020 and a workforce of 46,000 employees.
  • In July 2021, General Electric (GE) successfully clinched a supply agreement with GSI Helmholtzzentrum für Schwerionenforschung, a renowned research institution that manages an ion accelerator complex situated in Darmstadt, Germany. Within the framework of this contract, GE is furnishing the research facility with its cutting-edge LV8 platform, encompassing a diverse array of elements including power transformers, medium voltage switchgear, surge arresters, and various other components.

Surge Arrester Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Surge Arrester Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Surge Arrester Market in terms of revenue ($Million) and volume (Kilotons).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Surge Arrester Market.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Surge Arrester Market along with the current trends and future estimations to depict imminent investment pockets. The overall Surge Arrester Market opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Surge Arrester Market are also analysed.

Global Surge Arrester Market Segmentation

By Material

  • Polymer
  • Porcelain

By  Class

  • Distribution Class
  • Intermediate Class
  • Station Class

By Voltage

  • Low Voltage
  • Medium Voltage
  • High Voltage

By Application

  • Air Insulated Substation (AIS)
  • Gas Insulated Substation (GIS)

By End-user

  • Residential
  • Commercial
  • Industrial
  • Utility

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
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Electric Fuse Market
April, 2024

New York, April 2024: According to a new research study by Global Insight Services (GIS), the global Electric Fuse Market is expected to grow rapidly over the next 10 years to reach a value of more than USD 8.8 billion by 2033.

An electric fuse is a safety device that is used to protect an electrical circuit from damage caused by excessive current. Fuses are designed to melt or vaporize when the current passing through them exceeds a certain value, thus interrupting the flow of current and protecting the circuit.

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Electric Fuse Market: Key Trends and Drivers

The key trends in electric fuse technology are miniaturization, solid-state fuses, and smart fuses.

Miniaturization: As electronic devices continue to shrink in size, the components that make up those devices must also shrink. This includes the fuses used to protect those devices. Electric fuse manufacturers have been working to miniaturize their products to meet the demands of the market.

Solid-state fuses: Solid-state fuses are a newer type of fuse that uses semiconductor materials instead of metal wires or other conductive materials. This type of fuse is more resistant to shock and vibration and can be made smaller than traditional fuses. Solid-state fuses are becoming more popular in applications where space is limited, such as in automotive electronics.

Smart fuses: Smart fuses are a type of fuse that contains a microchip that can store information about the fuse, such as when it was last used and how much current it has carried. This information can be accessed by a computer or other electronic device and can be used to help diagnose problems or prevent future failures.

The major factors driving the growth of the market are the increasing demand for electricity, rising investments in the power sector, and stringent government regulations.

The increasing demand for electricity is one of the key drivers of the electric fuse market. The growing population and urbanization are leading to the increased consumption of electricity.

The rising investments in the power sector are another key driver of the electric fuse market. The governments of various countries are investing heavily in the power sector to meet the growing demand for electricity.

The stringent government regulations are another key driver of the electric fuse market. The governments of various countries are imposing strict regulations on the use of electricity to reduce the carbon emissions. These regulations are expected to drive the demand for electric fuses.

Electric Fuse Market: Restraints and Challenges

The electric fuse market faces a number of restraints and challenges. One key challenge is the need for accurate and reliable data on the properties and performance of electric fuses. This data is essential for the design and selection of electric fuses, but it can be difficult to obtain. Another challenge is the potential for electric fuses to fail due to incorrect selection or installation. This can lead to downtime and lost productivity, as well as damage to equipment.

Electric Fuse Market Report Findings

https://www.globalinsightservices.com/reports/electric-fuse-market

The distribution cut-outs segment is anticipated to dominate the market during the forecast period

By type, the market is classified into power fuse & fuse link, distribution cut-outs, and cartridge & plug fuse. The distribution cut-outs segment has dominated the market in 2023 with the highest market share. Further, it has been anticipated that the power fuse & fuse link segment will be the fastest-growing segment in the coming years. The segmental growth is driven by the increasing demand for reliable protection of distribution networks in various industries and sectors. Distribution cut-outs play a crucial role in safeguarding electrical circuits from overloads and short circuits, ensuring uninterrupted power supply, and preventing damage to equipment. With growing industrialization and infrastructure development projects, there is a rising need for efficient distribution systems, driving the demand for distribution cut-outs. Additionally, advancements in technology, such as the development of smart distribution cut-outs with remote monitoring capabilities, are further fueling market growth by enhancing safety and operational efficiency.

The medium segment is anticipated to dominate the market during the forecast period

By voltage, the market is bifurcated into low, medium, and high. The medium segment has dominated the market in 2023 with the highest market share. Further, it has been anticipated that this segment will be the fastest-growing segment in the coming years. The reason for the growth is attributed to increasing urbanization and industrialization worldwide necessitating the expansion and modernization of electrical infrastructure, including medium voltage systems. As industries and urban areas grow, so does the demand for reliable and efficient power distribution, driving the need for medium-voltage fuses. Additionally, the adoption of renewable energy sources and electrification initiatives further propels market growth, as medium voltage fuses are essential for protecting renewable energy systems and grid integration. Moreover, ongoing advancements in fuse technology, such as improved materials and designs, contribute to enhancing the performance and reliability of medium voltage fuses, fostering market expansion.

The utilities segment is anticipated to dominate the market during the forecast period

By end-user, the market is classified into utilities, industrial, residential, commercial, and others. The utilities segment has dominated the market in 2023 with the highest market share. Additionally, it has been anticipated that the commercial segment will be the fastest-growing segment in the coming years. The increasing demand for electricity, driven by urbanization, industrialization, and population growth, necessitates the expansion and upgrading of utility infrastructure. Utilities rely on electric fuses to safeguard their electrical distribution networks from overcurrents and faults, ensuring uninterrupted power supply to consumers. Additionally, stringent safety regulations and standards mandate the use of reliable and high-quality fuses in utility applications. Moreover, the modernization of utility grids, integration of renewable energy sources, and adoption of smart grid technologies further stimulate the demand for electric fuses in the utilities sector.

The North American region is anticipated to dominate the market during the forecast period

By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world. The North American region is anticipated to dominate the market during the forecast period followed by Asia Pacific. This is because the region’s robust industrial and commercial sectors drive the demand for electric fuses across various applications, including manufacturing, construction, and automotive industries. Additionally, ongoing infrastructural development projects, particularly in the energy and utilities sector, contribute to the market’s expansion. Moreover, stringent safety regulations and standards set by regulatory authorities mandate the use of electric fuses in electrical systems, further bolstering market demand. Furthermore, technological advancements and the adoption of smart grid solutions propel the need for advanced electric fuse solutions in North America’s evolving energy landscape.

Additionally, the Asia-Pacific is expected to be the fastest-growing region in the market. The rapid industrialization and urbanization across emerging economies like China, India, and Southeast Asian countries create substantial demand for electric fuses in various sectors, including manufacturing, construction, and automotive industries. Moreover, increasing investments in infrastructure development projects, such as power generation plants, transportation networks, and smart cities, further fuel the market’s expansion. Additionally, the growing focus on renewable energy integration and electrification initiatives in the region drives the adoption of electric fuses for ensuring grid stability and safety, contributing to market growth.

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Competitive Landscape

The global Electric Fuse market includes players such as ABB, Schneider Electric, Siemens, Hubbell, Mersen, Legrand, Schurter, S & C Electric Company, Bel Fuse, and Little Fuse

Recent Developments
  • In February 2024, Eaton revealed plans to launch a new assembly plant in Santiago de los Caballeros, Dominican Republic, in response to rising customer needs for its fuses. The upcoming facility, spanning 65,000 square feet, aims to ramp up the production of Bussmann series fuses. These fuses are crucial components utilized in electric vehicles, renewable energy and storage ventures, data centers, and various industrial setups. This move is aimed at meeting the growing demand in these sectors and ensuring an adequate supply of essential components to support ongoing and upcoming projects.
  • In December 2023, The defense ministry finalized a deal worth over Rs 5,300 crore with Bharat Electronics Ltd (BEL), a government-owned company, for purchasing electronic fuzes for the Indian Army. These fuzes are essential components used in medium to heavy-caliber artillery guns, which play a crucial role in providing continuous firepower during military operations. The procurement contract spans a period of 10 years. These electronic fuzes are specifically intended for use in artillery guns capable of engaging targets effectively in diverse terrains, including high-altitude regions along the northern borders of the country.
Electric Fuse Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Electric Fuse Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Electric Fuse Market in terms of revenue ($Million) and Volume (Units).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Electric Fuse industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Electric Fuse Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Electric Fuse Market along with current trends and future estimations to depict imminent investment pockets. The overall Electric Fuse industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Electric Fuse Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segmentation

By Type

  • Power Fuse & Fuse Link
  • Distribution Cut-outs
  • Cartridge & Plug Fuse

By Voltage 

  • Low
  • Medium
  • High

By End-User

  • Utilities
  • Industrial
  • Residential
  • Commercial
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
Read More

Solar Tracker Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the Solar Tracker Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 10.0% during the forecast period.

A solar tracker is a device that orients a payload toward the Sun. Solar trackers are used to track the movement of the Sun in the sky and adjust the orientation of solar panels, reflectors, or lenses to maximize the amount of sunlight that hits them. Solar trackers are used in a variety of applications, including solar power plants, solar thermal plants, and solar telescopes.

Solar trackers can be classified into two main types: active and passive. Active solar trackers use motors or other mechanisms to adjust the orientation of the payload. Passive solar trackers use the Sun’s heat to deform a material, which in turn adjusts the orientation of the payload.

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Key Trends and Drivers

There are several key trends in solar tracker technology. First, solar trackers are becoming more sophisticated, with more accurate tracking algorithms and better sensors. This enables them to more accurately follow the sun’s movements and produce more electricity. Second, solar trackers are becoming more durable, with better materials and construction methods. This makes them more resistant to wind, rain, and snow, and able to withstand more extreme temperatures. Third, solar trackers are becoming more affordable, as the cost of solar panels and other components continues to decline. This makes them a more attractive option for homeowners and businesses alike.

The key drivers of the solar tracker market are the increasing electricity demand, the declining cost of solar photovoltaic (PV) modules, and the increasing awareness of the benefits of solar PV systems.

The solar tracker market is driven by the increasing demand for electricity. This increase in demand for electricity is primarily due to the growing population and the increasing use of electricity in emerging economies.

The declining cost of solar PV modules is another key driver of the solar tracker market. The declining cost of solar PV modules is making solar PV systems more economically viable, and this is expected to drive the growth of the solar tracker market.

The increasing awareness of the benefits of solar PV systems is another driver of the solar tracker market. Solar PV systems offer a number of benefits, including the generation of clean and renewable energy, the reduction of greenhouse gas emissions, and the creation of jobs. The increasing awareness of these benefits is expected to drive the growth of the solar tracker market.

Restraints & Challenges

The key restraints and challenges in the Solar Tracker market include the high initial investment cost and the lack of skilled labor.

The high initial investment cost is a major barrier to the adoption of solar tracker systems. Solar tracker systems are typically more expensive than fixed-mount systems.

The lack of skilled labor is another challenge facing the solar tracker market. There is a lack of trained personnel who can install and maintain solar tracker systems. This is a major challenge for the growth of the solar tracker market.

Solar Tracker Market Report Findings

https://www.globalinsightservices.com/reports/solar-tracker-market

The photovoltaic Solar Power Systems segment is anticipated to dominate the market during the forecast period

On the basis of technology, the market is bifurcated into concentrated solar tracker and photovoltaic. The photovoltaic segment has dominated the market and also expected to be the fastest growing segment during the forecast period. The reason behind the growth is due to the constant advancements in PV technology that have led to improvements in efficiency, durability, and cost-effectiveness of solar panels. These innovations make solar energy more accessible and competitive compared to traditional energy sources. Moreover, the growing environmental concerns and government incentives for renewable energy adoption have fueled the demand for PV systems worldwide. Additionally, increasing energy demand, coupled with declining costs of PV installations, has spurred investments in utility-scale solar projects, residential solar installations, and commercial solar developments, driving growth in the PV technology segment.

The double axis segment is anticipated to dominate the market during the forecast period

By type, it is divided into single axis tracker and double axis tracker. The double axis segment has dominated the market and also expected to be the fastest growing segment during the forecast period. The double-axis solar tracking systems offer superior sunlight capture and energy generation efficiency compared to single axis trackers. By continuously adjusting the orientation of solar panels along both the horizontal and vertical axes, these systems optimize sunlight exposure throughout the day, maximizing electricity output. Additionally, advancements in tracking technology, including precision control algorithms and robust mechanical designs, have enhanced the reliability and performance of double-axis systems, making them increasingly attractive for utility-scale solar installations seeking to maximize energy yield and return on investment.

The residential segment is anticipated to dominate the market during the forecast period

On the basis of application, it is classified into residential, commercial, and industrial/utility. The residential segment has dominated the market and the commercial segment is expected to be the fastest-growing segment during the forecast period. The increasing awareness of environmental sustainability and the desire for energy independence drive homeowners to adopt solar power. Solar panels offer a clean and renewable energy source, reducing carbon emissions and electricity bills. Further, the government incentives, such as tax credits and rebates, make solar installations more affordable for homeowners, incentivizing adoption. Additionally, technological advancements, such as improved panel efficiency and battery storage solutions, enhance the feasibility and attractiveness of residential solar systems. Overall, these factors contribute to the growing popularity and expansion of solar power in the residential sector.

The North America region is likely to hold the major share of the market in 2023

Region-wise, it is studied across North America, Europe, Asia-Pacific, and the Rest of the World. North America holds a major market share for Solar Tracker and is expected to continue its stronghold for a few more years followed by Europe. According to the Solar Energy Industries Association (SEIA), North America installed 19.2 gigawatts (GW) of solar capacity in 2021 alone, marking a 43% increase over the previous year. This growth is propelled by favorable government policies such as the Investment Tax Credit (ITC) and Renewable Portfolio Standards (RPS), which incentivize solar adoption. Additionally, declining solar panel costs, which dropped by 90% over the past decade, have made solar power increasingly competitive, contributing to North America’s robust solar market expansion.

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Key Players

The Solar Tracker Market report includes players such as NEXTracker, Inc., Array Technologies, PVHardware, Arctech Solar, Soltec Trackers, Nclave renewable, Convert Italia, STI Norland, Gonvarri Steel Services, and GameChange Solar.

Recent Developments:
  • In January 2024, GameChange Solar (GCS) has opened a new manufacturing facility, training center, and technical support hub specifically for its Genius Tracker™ solar trackers in Feira de Santana, Bahia, Brazil. The factory, located in Feira de Santana, Bahia, started production in November 2023 and has the capacity to produce 2.5 GW of trackers. It can expand to meet growing demand. Besides serving the local market, the facility will also supply Genius Tracker units to other countries in Latin America. Additionally, the Brazilian Development Bank (BNDES) has granted FINAME certification for GameChange Solar’s Genius Tracker trackers. This certification ensures compliance with Brazil’s domestic content and manufacturing process requirements.
  • In September 2023, Just before the largest tradeshow in the solar industry, Dan Shugar, the CEO of Nextracker, spoke to a group of people at the opening of the company’s new factory in Las Vegas. The factory opened on the 22nd anniversary of the 9/11 terrorist attacks. Shugar mentioned that it’s important to expand solar manufacturing in the United States on this date because of the significance of the national tragedy.
  • In September 2023, Nextracker, a supplier of solar trackers, has introduced three new products to tackle issues like hail storms, uneven terrain, and sudden changes in weather. These products aim to solve some of the main challenges faced by Engineering, Procurement, and Construction (EPC) contractors and solar photovoltaic (PV) owners. Based on the features of Nextracker’s NX Horizon smart solar tracking system, the NX Horizon Hail Pro is designed to quickly respond to hail storms. Its design allows the trackers to automatically fold away, even if the power grid goes down, without needing manual intervention.
  • In February 2022, Trina Tracker has introduced a new smart operations and maintenance (O&M) control solution called Trina Smart Cloud. This innovative tool uses advanced technology to help manage and maintain solar energy systems more efficiently. With Trina Smart Cloud, users can remotely monitor and control their solar installations in real-time. This helps optimize performance and reduces the need for on-site maintenance. Additionally, the system can predict potential issues before they occur, allowing for proactive maintenance and minimizing downtime.
Solar Tracker Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Solar Tracker Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Solar Tracker Market in terms of revenue ($Million) and volume (mw).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Solar Tracker industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Solar Tracker Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Solar Tracker Market along with current trends and future estimations to depict imminent investment pockets. The overall Solar Tracker industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Solar Tracker Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By Technology

  • Concentrated Solar Tracker
  • Photovoltaic

By Type

  • Single Axis Tracker
  • Double Axis Tracker

By Application

  • Residential
  • Commercial
  • Industrial/Utility

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
Read More

Solar Power Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the Solar Power Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 6.7% during the forecast period.

Solar power is the conversion of sunlight into electricity, either directly using photovoltaics (PV), or indirectly using concentrated solar power (CSP). Solar PV is rapidly becoming an inexpensive, low-carbon technology to generate electricity. Concentrated solar power systems use lenses or mirrors and tracking systems to focus a large area of sunlight into a small beam. The concentrated light is then used as a heat source for a conventional power plant. Solar power is a renewable resource and can be used to generate electricity, heat water, and provide other energy services.

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Key Trends and Drivers

Solar power technology is constantly evolving, and the key trends reflect that. In general, solar panels are becoming more efficient, less expensive, and easier to install.

One of the most important trends is the increasing efficiency of solar panels. This is important because it means that more power can be generated from a given amount of solar panels. This is due to a number of factors, including advances in solar cell technology and the use of new materials that are better at capturing sunlight.

Another key trend is the decreasing cost of solar panels. This is important because it makes solar power more affordable for more people. The decreasing cost is due to a number of factors, including the increasing efficiency of solar panels, the mass production of solar panels, and the availability of government incentives.

Finally, another key trend is the increasing ease of installation of solar panels. This is important because it means that more people will be able to install solar panels on their own, without the need for professional help. This is due to a number of factors, including the availability of do-it-yourself kits and the simplification of the installation process.

There are numerous key drivers of the solar power market.

Firstly, solar power is a renewable energy source, which means that it is not subject to the same price fluctuations as fossil fuels. This makes it an attractive option for power companies and consumers alike.

Secondly, solar power is becoming increasingly cost-effective as technology improves and economies of scale are achieved. This is making it a more viable option for power companies looking to diversify their energy mix and for consumers looking to reduce their energy bills.

Thirdly, solar power has a number of environmental benefits, including the fact that it does not produce harmful emissions. This is becoming increasingly important as the world looks to tackle climate change.

Finally, solar power is a versatile energy source that can be used for a variety of applications, from powering homes and businesses to providing power for electric vehicles.

Restraints & Challenges

Solar power is a renewable energy source that is becoming increasingly popular as the cost of traditional energy sources continues to rise. However, there are several key restraints and challenges that must be addressed in order for solar power to become a more viable option for energy production.

The first challenge is the high upfront cost of solar panels and other associated equipment. While the cost of solar panels has fallen dramatically in recent years, they are still relatively expensive when compared to traditional energy sources such as coal and natural gas. This high upfront cost can be a barrier to entry for many potential solar power users.

The second challenge is the intermittency of solar power. Unlike traditional energy sources that can be dispatch.

Solar Power Market Report Findings

https://www.globalinsightservices.com/reports/solar-power-market

The Concentrated Solar Power Systems segment is anticipated to dominate the market during the forecast period

Based on Technology, it is bifurcated into Photovoltaic Systems and Concentrated Solar Power Systems. The Concentrated Solar Power Systems dominated the market and expected to be the fastest growing segment in the forecast period.

The Monocrystalline pharmacies segment is anticipated to dominate the market during the forecast period

Based on Solar Module, it is segmented into Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, and Others. The Monocrystalline dominated the market in 2023, and moreover, the Polycrystalline segment is expected to be the quickest growing segment during the forecast period.

The 2nd generation segment is anticipated to dominate the market during the forecast period

Based on Generation, the Solar Power market has been segmented into First, Second, and Third. The 2nd generation segment has dominated the market with nearly above half percentage and it is also expected to be the fastest growing segment in the upcoming years.

The commercial segment is anticipated to dominate the market during the forecast period

By Application, it is segmented into Residential, Commercial, and Industrial & Utility. The commercial segment has the highest market share in the segment in 2023, and it is further expected to be the fastest-growing in the upcoming years.

The lightning segment is anticipated to dominate the market during the forecast period

On the basis of End Use, it is segmented into Electricity Generation, Lighting, Heating, and Charging. The lightning segment has the highest revenue in 2023 and the electricity generation segment is anticipated to be the fastest growing segment in the coming years.

The North America region is likely to hold the major share of the market in 2023

Region-wise, it is studied across North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The North America region has dominated the market in 2023 followed by Europe. The growth is attributed to increasing environmental concerns and government incentives promote the adoption of renewable energy sources like solar power. Furthermore, advancements in solar technology, and declining costs of solar panels make solar energy more accessible and cost-effective. Thirdly, energy independence and resilience drive demand for solar power installations, particularly in remote areas and off-grid applications. Additionally, corporate sustainability goals and initiatives contribute to the growth of solar power adoption among businesses. Moreover, favorable regulatory policies, such as net metering and tax incentives, further stimulate investment in solar energy projects across North America.

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Competitive Landscape

Some of the key players of Solar Power Market are ABB Ltd (Switzerland), Canadian Solar Inc. (Canada), First Solar, Inc. (US), JA Solar Technology Co., Ltd. (China), Jinko Solar Co., Ltd. (China), LONGi Green Energy Technology Co., Ltd. (China), Jiangsu Shunfeng Photovoltaic Technology Co., Ltd. (Wuxi Suntech Power Co., Ltd.) (China), SunPower Corporation (US), Trina Solar (US), and Adani Group (India).

Recent Developments:
  • In March 2024, SolarDuck, a leading provider of offshore floating photovoltaic (OFPV) technology, Green Arrow Capital, a prominent Italian Independent Asset Manager specializing in alternative investments, and New Developments s.r.l., an experienced developer in Italy, have joined forces for a project. They aim to develop a 120 MWp OFPV farm integrated with 420 MW of floating offshore wind (FOW). The project will feature SolarDuck’s innovative elevated platform technology, enabling the deployment of photovoltaic (PV) panels even in high wave conditions while ensuring a safe environment for maintenance and minimizing environmental impact. Additionally, this collaboration will capitalize on the complementary nature of wind and solar energy resources.
  • In December 2023, Bangladesh’s government approved tariffs for two solar projects totaling 200 MW. One project, located in Feni district, will generate 100 MW, while another, situated in Mymensingh district, will also produce 100 MW. The Mymensingh project will be developed by China’s Xizi Clean Energy Equipment Manufacturing in collaboration with Bangladeshi clothing manufacturers Cassiopea Fashion and Cassiopea Apparels. It will operate under a 20-year tariff of $0.10/kWh. The Bangladesh Power Development Board (BPDB) will oversee the Sonagazi solar plant, partnering with an unnamed Chinese investor. Like the Mymensingh project, it will also operate under a 20-year tariff of $0.10/kWh.
  • In December 2023, Gulf Energy Development Public Company Limited has expanded its renewable energy portfolio by signing Power Purchase Agreements (PPAs) for 12 new solar projects in Thailand. These projects, managed by Gulf Renewable Energy Company Limited, have secured 25-year PPAs with the Electricity Generating Authority of Thailand (EGAT). This announcement follows the company’s previous disclosure in October 2023, where it revealed PPAs for 12 solar farms and solar farms with battery energy storage systems, totaling 649.3 megawatts. The recent agreements, made on December 20, 2023, add another 644.8 megawatts to Gulf Energy Development’s renewable energy capacity. The new projects consist of five solar farms with a total capacity of 259.6 megawatts and seven solar farms with battery energy storage systems (BESS) totaling 385.2 megawatts. These projects are expected to become operational between 2026 and 2029.
  • In November 2023, KPI Green Energy Limited has won contracts for solar power projects through two separate announcements. The first announcement highlights the company’s success in securing a Letter of Award (LOA) for a significant 22.26 MWp Solar Power Project. This project, developed under the Captive Power Producer (CPP) segment, is in partnership with M/s Aditya Birla Renewable Energy Limited, a leading Mumbai-based entity. The project will be located in Gujarat, expanding KPI Green Energy’s presence in renewable energy. Under this contract, KPI Green Energy will provide comprehensive services, including design, engineering, procurement, construction, testing, commissioning, and operation. The company will also conduct performance acceptance tests (PAT) and facility acceptance tests (FAT) while obtaining necessary permits and approvals for the Solar Power Generator. This achievement is aligned with the company’s strategic goal of becoming a major player in the industry, aiming to reach 1,000 MW by 2025.
Solar Power Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Solar Power Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Solar Power Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Solar Power industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Solar Power Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Solar Power Market along with current trends and future estimations to depict imminent investment pockets. The overall Solar Power industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Solar Power Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By Technology

  • Photovoltaic Systems
    • Moni-Si
    • Thin Film
    • Multi-Si
    • Others
  • Concentrated Solar Power Systems
    • Parabolic Trough
    • Solar Power Tower
    • Fresnel Reflectors
    • Dish Stirling

By Solar Module

  • Monocrystalline
  • Polycrystalline
  • Cadmium Telluride
  • Amorphous Silicon Cells
  • Others

By Generation

  • First
  • Second
  • Third

By Application

  • Residential
  • Commercial
  • Industrial & Utility

By End Use

  • Electricity Generation
  • Lighting
  • Heating
  • Charging

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
    • Switzerland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
Read More

Solar Thermal Market
March, 2024

New York, March 2024: According to a new research study by Global Insight Services (GIS), the Solar Thermal Market is expected to grow rapidly over the next 10 years and it is expected to reach a CAGR 4.8% during the forecast period.

Solar Thermal is a form of renewable energy that uses the sun’s energy to produce heat. Solar thermal systems use sunlight collected by solar thermal collectors to heat water, air, or other fluids. Solar thermal collectors are typically flat-plate collectors, which can be installed on buildings or in the ground and are designed to absorb the sun’s energy and convert it to heat. The heated fluid is then used for a variety of purposes, such as providing hot water for domestic use, space heating, industrial processes, or generating electricity.

Solar thermal systems are typically composed of two main components: a solar collector and a storage tank. The solar collector is responsible for absorbing and collecting the sun’s energy, while the storage tank is used to store the heated fluid. The size of the collector and storage tank depends on the amount of energy that needs to be collected and stored, as well as the desired temperature of the heated fluid. Solar thermal systems are typically designed to provide hot water for domestic use, but they can also be used to heat air or other fluids for industrial processes or to generate electricity.

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Solar Thermal Market: Market Drivers and Trends

Solar thermal technology is an important part of the energy landscape and has been growing in popularity in recent years. It harnesses the sun’s energy to heat water, pool, or air for residential and commercial use. Solar thermal technology is becoming increasingly cost-effective and is seen as a viable alternative to traditional energy sources. As a result, there are a number of key trends in solar thermal technology that are worth noting.

One of the most significant trends is the emergence of more efficient and cost-effective solar thermal technologies. Advances in photovoltaic (PV) cells, heat exchangers, and other components have enabled the development of more efficient and cost-effective solar thermal systems. This has allowed more homeowners and businesses to adopt solar thermal technology as a viable alternative energy source.

Another key trend is the emergence of integrated solar thermal systems. This involves the combination of solar thermal and PV systems to provide a more efficient and cost-effective energy solution. This is particularly beneficial for larger businesses and organizations that require a significant amount of energy. By combining the two technologies, businesses can reduce their energy costs and generate more energy from the sun.

Also, the demand for renewable energy sources is increasing due to the urgent need to reduce greenhouse gas emissions and combat climate change. Solar thermal technology is an attractive option for meeting this demand as it produces no air pollutants or greenhouse gases. Additionally, solar thermal technology is becoming increasingly cost competitive with traditional energy sources.

Secondly, technological advancements are making solar thermal technology more efficient, reliable, and cost effective. Improvements in solar panel design and installation methods, advancements in thermal storage systems, and the development of efficient solar-thermal-conversion systems are making solar thermal a more viable option for residential and commercial applications.

Market Restraints and Challenges

The Solar Thermal market is subject to a number of key restraints and challenges that can limit its growth and potential. These include but are not limited to:

1. High Initial Cost: The initial cost of solar thermal systems is relatively high compared to other renewable energy sources. This high cost can be a deterrent for many potential customers who are looking for cost-effective renewable energy solutions.

2. Lack of Awareness: Despite the fact that solar thermal technology has been around for decades, there is still a lack of awareness among many potential customers. This lack of awareness can be a barrier to the adoption of solar thermal systems, as customers may not know enough about the technology to make an informed decision.

Solar Thermal Market Report Findings

https://www.globalinsightservices.com/reports/solar-thermal-market

The residential segment is anticipated to dominate the market during the forecast period

Based on end user, the Solar Thermal Market is segmented into residential, commercial and industrial. The residential segment is expected to dominate the market during the forecast period. The majority of residential solar thermal system use is in the generation of hot water via a home hot water system. Increased investment in the construction sector for re-establishment and renovation will boost market growth. The existence of new legislation about implementing green building codes, such as energy conservation building codes in India, China, the United States, and others, will further boost market growth. The expansion of solar district heating projects worldwide is the most prominent driver of the residential solar thermal market. They play an important role in decarbonizing the heating sector and addressing the growing demand for eco-friendly heating solutions, such as residential water heating and space heating. During the projection period, the aforementioned reasons will give significant chances for market expansion.

The pumped solar heating system segment is anticipated to dominate the market during the forecast period

By system, the market is classified into thermosiphon solar heating system, and pumped solar heating system. The thermosiphon solar heating system segment dominated the market in 2023 in terms of revenue and is expected to dominate the market during the forecast period. Thermosiphoning is a technique used in heating and cooling applications such as heat pumps, water heaters, boilers, and furnaces to circulate liquids and volatile gases. Thermo-siphoning also occurs over temperature variations in the air, such as those used in solar chimneys. Demand for thermosiphon solar heating systems has increased as demand for renewable energy resources has increased. The aforementioned elements will give significant prospects for market expansion.

The evacuated tube collector segment is anticipated to dominate the market during the forecast period

Based on collector type, the Solar Thermal Market is segmented into evacuated tube collector, flat plate collector, unglazed water collector, and air collector. In 2023, the evacuated tube collector segment dominated the market in terms of revenue and is expected to be the same during the upcoming years. Sunwater heating, sun drying, solar air heating, and solar desalination are all applications for evacuated tube collectors. The significant growth in electricity consumption, along with the steady loss of oil and gas supplies throughout the world, will fuel demand for the solar thermal sector. Furthermore, the massive use of oil and gas has harmed the ecosystem, putting oil and gas reserves on the verge of extinction. The increasing use of solar thermal power plants across the world, as well as continued investments in this sector, has resulted in a growth in demand for evacuated tube collectors, which are critical in converting solar radiation into heat and transferring heat to a medium. The existence of the aforementioned variables will present the industry with several prospects.

The hot water systems segment is anticipated to dominate the market during the forecast period

Based on application, the Solar Thermal Market is segmented into hot water systems, solar combi systems, swimming pool heating, and others. The hot water systems segment is expected to dominate the market during the forecast period. The increased need for hot water from different domestic uses such as bathing, washing, cleaning, and cooking has increased the demand for environmentally friendly and sustainable technology such as solar thermal systems. Green technologies and sustainability are becoming more important as many states and towns around the country adopt regulatory measures to reduce greenhouse gas emissions and energy consumption in buildings, which are predicted to give enough prospects for market development.

The Asia Pacific region is likely to hold the major share of the market in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific has the biggest market share in terms of Solar Thermal Market value followed by North America. India and China are key actors in this region, owing to their large populations and high energy consumption. As part of renewable energy, solar power in India is a rapidly growing business. Because building energy consumption accounts for more than a third of overall energy consumption in India, the government is pushing individuals to switch to solar thermal systems to minimize domestic energy consumption. By 2050, India is anticipated to have the world’s biggest urban population.

Furthermore, more than 70% of the structures that will stand in India in 2030 have yet to be erected. As a result, the need for energy-efficient residential and commercial buildings will rise. Additionally, a boom in local renewable energy producers to capture the potential of solar energy from buildings to fulfill future energy demand is projected. The governments of this region’s emerging countries have taken significant steps to create sustainable solar energy power plants, which will give enough prospects for the solar thermal industry to flourish.

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Competitive Landscape

Some of the key players of Solar Thermal market are AES Solar (UK), Apollo Power Systems Pvt .Ltd. (India), Siemens AG (Germany), SolarUK Limited (UK), Solcrafte (Austria), Stiebel Eltron, Inc. (US), SunEarth (US), SunMaxx Solar (US), THERMIC (Greece), and THERMO|SOLAR Žiar s.r.o. (Slovakia).

Recent Developments
  • One of Germany’s biggest solar process heat plants, a 1.5 MW vacuum tube collector field for a gas pressure regulation system, began operations on November 21, 2023. The 1.5 MW facility remarkably shows that local organization is possible for the commercial heat transition in Germany. A firm in the same federal state of Brandenburg, Akotec Produktionsgesellschaft, sourced the 165 collector panels, each measuring 13 m2. The University of Kassel in central Germany provided help to the German company Enertracting, which developed the project.
  • In the upcoming year, a number of concentrated solar process heat systems will come online in Flanders, in the northern part of Belgium. The 2.5 MW parabolic trough collector field at Turnhout-based Avery Dennison, a well-known worldwide packaging and materials firm, is the starting point. It was officially opened in early September 2023.
  • In July 2021, In Hyderabad, a Concentrated Solar Thermal (CST) testing facility was constructed to assist India’s burgeoning solar sector in testing the capabilities and performance of solar thermal components such as solar receiver tubes, heat transfer fluids, and concentrating mirrors.
Solar Thermal Market Report Coverage
  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Solar Thermal Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of the Solar Thermal Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Solar Thermal industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country, market analysis is also presented in this report.
  • The Solar Thermal Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
  • Analytical depiction of the Solar Thermal Market along with current trends and future estimations to depict imminent investment pockets. The overall Solar Thermal industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Solar Thermal Market are also analyzed.
  • The report also involves market strategy factors such as the ANSOFF Matrix, 4Ps Model, Demand-Supply Analysis, Competition Product Analysis, Recent Developments, Consumer Buying Interest, and Supply Chain Analysis among others.
Market Segments

By System

  • Thermosiphon Solar Heating System
  • Pumped Solar Heating System

By Collector Type

  • Evacuated Tube Collector
  • Flat Plate Collector
  • Unglazed Water Collector
  • Air Collector

By Application

  • Hot Water Systems
    • Domestic
    • Large
  • Solar Combi Systems
  • Swimming Pool Heating
  • Others

By End User

  • Residential
  • Commercial
  • Industrial

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
Read More

Power SCADA Market
January, 2024

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Power SCADA Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 3.6 billion by 2033.

Power SCADA is a monitoring and control system for electric power distribution networks. It is used to monitor and control the flow of electricity from the power generation source to the end user. Power SCADA systems are used to manage the distribution of power from the power plant to the substations and from the substations to the end user. The system is designed to provide real-time information on the status of the power network, and to allow the operators to control the flow of electricity through the network..

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Global Power SCADA Market: Market Drivers and Trends

The key drivers of the Power SCADA market are the need for real-time monitoring and control of the power grid, the need to improve grid efficiency and reliability, and the need to reduce operational costs.

The power grid is a critical infrastructure that must be monitored and controlled in real-time to ensure its stability and reliability. Power SCADA systems allow utilities to do this by providing a centralized platform for monitoring and controlling the grid.

Power SCADA systems can also help utilities improve grid efficiency and reduce operational costs. By automating grid operations and providing real-time visibility into grid conditions, Power SCADA systems can help utilities optimize grid performance and reduce the need for manual intervention.

Global Power SCADA Market: Market Restraints and Challenges

There are a few key restraints and challenges in the Power SCADA market. Firstly, the high cost of these systems can be a challenge for some companies. Additionally, the complexity of these systems can make them difficult to implement and maintain. Additionally, the ever-changing nature of the power grid can make it difficult to keep these systems up-to-date.

Global Power SCADA Market Report Findings

https://www.globalinsightservices.com/reports/power-scada-market/

The hardware segment is likely to hold the major share of the market in 2023

Based on architecture, it is segmented into software, hardware, and services. The hardware segment had the highest revenue share and is expected to continue to dominate the market over the period. This expansion might be ascribed to increased demand for electricity SCADA in the APAC area. The Mexican government encourages firms to use renewable energy and modernize their industrial grids. The majority of grid modernization work in Mexico has included integrated communication technologies like SCADA systems in substation and distribution automation. The hardware category is predicted to increase at the fastest during the forecast period, owing to the growing need for cutting-edge software and the capacity to manage large amounts of data while avoiding assaults.

The Remote Terminal Unit (RTU) segment is likely to hold the major share of the market in 2023

Based on component, it is bifurcated into Master Terminal Unit (MTU), Remote Terminal Unit (RTU), Human Machine Interface (HMI), Programmable Logic Controller (PLC), Communication System, Intelligent Electronic Device (IEDs), and Others. The Remote Terminal Unit (RTU) segment has dominated the market and expected to expand the fastest. In a power SCADA system, a remote terminal unit (RTU) is an electronic device deployed at a remote site to gather data via actuators and sensors and communicate the information back to the master terminal station, generally based on the master station’s request. RTUs are geographically spread across several locations, gathering and transmitting real-time data to the master station via LAN/WAN (radio signals, telephone lines, cable connections, satellite, and microwave media, among others). The number of RTUs placed in any electricity SCADA system to gather real-time information greatly influences the accuracy of the control system.

The Oil and Gas segment is likely to hold the major share of the market in 2023

Based on end user, it is segmented into Oil & Gas, Water and Wastewater, Metal and Mining, Chemicals, Transportation, and Others. The Oil & Gas segment is expected to be the largest segment in the Power SCADA Market. Oil and gas is one of the most important sectors in terms of market revenue creation. This industry’s processes are extremely complicated, time-consuming, and important. Power SCADA systems are widely used in the oil and gas industry. In these industries, using power SCADA systems ensures safety, dependability, and profitability in oil and gas operations. Extreme operational conditions, financial limits, profit concerns, safety concerns, and potential environmental threats are all part of the sector. Oil and gas facilities are vulnerable to accidents that can harm people, assets, and the environment both inside and outside of the facility. Power SCADA systems, in conjunction with power management, may significantly lower the risk of accidents at these facilities.

The North America region is accounted for the majority of market share in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region Power SCADA Market had the highest revenue share followed by North America. China and Japan, which are among the region’s and the world’s largest users, account for the lion’s share of the power SCADA market. The power SCADA market in this area is predicted to be driven by fast-growing economies, rising population demand, the need for high-quality goods, and higher production rates. The market in China is predicted to expand primarily due to an increase in the number of manufacturing facilities in China, which is likely to produce a significant need for electricity SCADA. APAC has a significant demand for process automation and instrumentation due to increased expenditures in power transmission and distribution in the industrial sector. All of these reasons are projected to fuel the growth of the Asia Pacific power SCADA market.

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Competitive Landscape

The key players studied in the global Power SCADA Market are ABB, Siemens, Emerson, Schneider Electric, Mitsubishi Electric, Honeywell, Yokogawa Electric Corporation, Rockwell Automation, PSI AG, and Motorola Solutions.

Global Power SCADA Market: Recent Developments

  • In February 2021, Honeywell signed a deal with SEPCO Electric Power Construction Corporation to offer safety and security systems, linked control, and telecommunications services to a shipyard under construction in Saudi Arabia.
  • In August 2020, Schneider collaborated with Temasek to buy Larsen and Toubro’s electrical and automation division. Schneider Electric holds 65% of the purchased L&T business segment, with Temasek owning the remainder. This purchase will boost Schneider Electric’s low-voltage solutions and Industrial Automation division, as well as assist it in developing in the Middle East, Africa, and East Asia since L&T has significant R&D and engineering skills

Global Power SCADA Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Power SCADA Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Power SCADA Market potential from 2023 to 2033 in terms of revenue($ Million), and Volume(Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Power SCADA Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Security Robots industry.

Global Power SCADA Market Segmentation

Market Segments

By Architecture

  • Hardware
  • Software
  • Services

By Component

  • Master Terminal Unit (MTU)
  • Remote Terminal Unit (RTU)
  • Human Machine Interface (HMI)
  • Programmable Logic Controller (PLC)
  • Communication System
  • Intelligent Electronic Devices (IEDs)
  • Other

By End-User

  • Oil & Gas
  • Water and Wastewater
  • Metal and Mining
  • Chemicals
  • Transportation
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • The Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

  • ABB
  • Siemens
  • Emerson
  • Schneider Electric
  • Mitsubishi Electric
  • Honeywell
  • Yokogawa Electric Corporation
  • Rockwell Automation
  • PSI AG
  • Motorola Solutions

 

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Energy Storage Systems Market
December, 2023

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Energy Storage Systems market is expected to grow rapidly over the next 10 years to reach a volume of more than 601.74 GW by 2033.

Energy Storage Systems (ESS) are advanced technologies designed to store excess energy during periods of low demand for later use during high-demand periods. These systems play a crucial role in enhancing the efficiency and reliability of power grids, enabling the integration of renewable energy sources by mitigating intermittency issues. ESS encompass various technologies like batteries, pumped hydro storage, and thermal energy storage. By storing surplus energy and delivering it when needed, these systems contribute to grid stability, reduce reliance on fossil fuels, and support a more sustainable and resilient energy infrastructure, fostering the transition towards a cleaner and more flexible energy landscape.

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Energy Storage Systems Market: Key Drivers

The increasing development of variable energy sources, such as solar and wind power, is a key driver behind the robust growth of the Energy Storage Systems market. These variable energy sources are inherently intermittent, generating power based on weather conditions or time of day. The unpredictable nature of renewable energy production poses challenges for maintaining a stable and reliable power supply. Energy Storage Systems address this issue by storing excess energy generated during peak production periods and releasing it during high-demand or low-production periods.

As the global transition towards clean and sustainable energy gains momentum, there is a growing need for effective energy storage solutions to support the integration of renewable sources into the power grid. ESS plays a pivotal role in optimizing the utilization of renewable energy, enhancing grid resilience, and ensuring a consistent power supply. Governments and industries worldwide are investing in energy storage technologies to address grid balancing, frequency regulation, and energy arbitrage, thereby fostering a more resilient and efficient energy infrastructure. This surge in demand for Energy Storage Systems reflects the pivotal role they play in facilitating the widespread adoption of variable energy sources and accelerating the transition towards a more sustainable and decentralized energy landscape.

Energy Storage Systems Market: Market Restraints and Challenges

The growth of the energy storage systems market faces constraints due to the lack of effective long-term energy storage solutions. While short-term storage technologies, such as lithium-ion batteries, excel in addressing immediate energy demand fluctuations, they often fall short in providing extended storage durations necessary for prolonged periods of low renewable energy generation. The intermittent nature of renewable sources, such as solar and wind, requires robust long-term storage capabilities to bridge the gap between energy production and consumption.

The absence of cost-effective and scalable technologies for extended energy storage hampers the seamless integration of renewable energy into the power grid. This limitation becomes more pronounced as the share of variable energy sources in the energy mix increases globally. Addressing the challenge of long-term energy storage is crucial for ensuring grid stability, meeting energy demands during extended periods of low renewable generation, and maximizing the potential of clean energy sources.

Energy Storage Systems Market Report Findings

https://www.globalinsightservices.com/reports/energy-storage-systems-market/

The Pumped Hydro Storage segment is likely to hold the major share of the market in 2022

On the basis of Technology, the Energy Storage Systems Market is segmented into Pumped Hydro Storage, Electro-Chemical Storage, Electro-Mechanical Storage, and Thermal Storage. The Pumped Hydro Storage segment is expected to have the largest Energy Storage Systems market share in 2023. Pumped hydro storage is a well-established and mature technology with a proven track record of providing large-scale, long-duration energy storage. This segment plays a crucial role in mitigating the intermittent nature of renewable energy sources, such as solar and wind, by offering a reliable means of storing excess energy during periods of high generation. Pumped hydro storage functions by using surplus electricity to pump water to an elevated reservoir during times of low demand. When energy demand rises or renewable energy generation decreases, the stored water is released, flowing downhill through turbines to generate electricity. This process allows for efficient energy storage over extended durations, addressing the challenge of prolonged periods with minimal renewable energy production. Governments and energy utilities are increasingly recognizing the value of pumped hydro storage in enhancing grid stability and supporting the integration of renewable energy. The scalability, efficiency, and long-duration storage capabilities of pumped hydro storage make it a key contributor to a resilient and sustainable energy infrastructure.

The Small-scale segment is likely to hold the major share of the market in 2022

Based on Capacity, the Energy Storage Systems Market is classified into Small-scale and Large-scale. The Small-scale segment is expected to have the largest Energy Storage Systems market share in 2023. Small-scale energy storage systems cater to a diverse range of applications, from residential and commercial settings to community-level microgrids. The increasing adoption of solar panels and other distributed energy resources has amplified the demand for localized storage to optimize energy usage, reduce peak demand, and enhance grid resilience. In residential contexts, homeowners are embracing small-scale energy storage to store excess solar energy generated during the day for use during peak evening hours or during grid outages. Similarly, businesses are deploying these systems to manage energy costs, improve energy efficiency, and ensure a reliable power supply. The versatility and adaptability of small-scale energy storage solutions make them instrumental in meeting the unique needs of various end-users. Government incentives, technological advancements, and a growing awareness of energy sustainability are further propelling the expansion of the small-scale segment. As consumers and businesses seek more control over their energy consumption and costs, the small-scale energy storage market is poised for significant growth, contributing to the overall evolution of the energy landscape towards a more decentralized and resilient future.

The Grid Management segment is likely to hold the major share of the market in 2022

On the basis of Application, the Energy Storage Systems Market is bifurcated into Transportation and Grid Management. The Grid Management segment is expected to have the largest Energy Storage Systems market share in 2023. As power grids face increasing challenges associated with the integration of renewable energy sources, grid management solutions utilizing energy storage are becoming indispensable. Energy storage systems provide grid operators with tools for managing fluctuations in energy supply and demand, mitigating the intermittency of renewable sources like solar and wind. In times of excess energy production, storage systems absorb surplus power, and during high-demand periods or low renewable generation, stored energy is released back into the grid. This dynamic balancing act contributes to grid stability and reduces the need for traditional fossil fuel-based peaker plants. The Grid Management segment’s growth is further fueled by advancements in smart grid technologies and the integration of sophisticated energy management systems. These technologies enable grid operators to optimize energy flow, enhance grid resilience, and respond swiftly to fluctuations in demand. Governments and utilities globally are investing in grid modernization initiatives, recognizing the pivotal role that grid management through energy storage plays in achieving a sustainable and reliable energy infrastructure.

The Utilities segment is likely to hold the major share of the market in 2022

Based on End User, the Energy Storage Systems Market is classified into Residential, Non-Residential, and Utilities. The Utilities segment is expected to have the largest Energy Storage Systems market share in 2023. Utilities play a pivotal role in the adoption of energy storage technologies as they seek to enhance grid reliability, optimize energy distribution, and integrate renewable sources more effectively. Energy storage systems empower utilities to address the challenges posed by the intermittent nature of renewable energy, providing a mechanism to store excess energy during periods of high generation and release it during peak demand or low-generation periods. This capability is crucial for grid balancing and ensuring a stable power supply. Utilities are increasingly investing in large-scale energy storage projects, such as grid-scale batteries and pumped hydro storage, to improve overall grid performance. These initiatives contribute to the reduction of greenhouse gas emissions, support the transition to cleaner energy sources, and enhance the resilience of power systems against disruptions. Government incentives, coupled with a growing focus on sustainability, are propelling utilities to integrate energy storage solutions into their infrastructure. The Utilities segment’s growth reflects a strategic shift toward more flexible and responsive energy grids, aligning with global efforts to transition towards a cleaner and more sustainable energy future.

The Asia Pacific region is likely to hold the major share of the market in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to have the largest Energy Storage Systems market share in 2023. With a burgeoning population, rapid industrialization, and increasing energy demand, countries in Asia Pacific are actively embracing energy storage technologies to address challenges related to grid stability, renewable energy integration, and power reliability. Government initiatives and policies promoting clean energy adoption, coupled with ambitious renewable energy targets, are propelling the demand for energy storage solutions across the region. Countries such as China, Japan, South Korea, and India are making substantial investments in large-scale energy storage projects, including battery storage, pumped hydro storage, and emerging technologies. The Asia Pacific segment benefits from diverse market drivers, such as the need for reliable power supply, energy security, and the mitigation of environmental impacts. Additionally, the region’s robust manufacturing capabilities contribute to the production and deployment of energy storage technologies at scale. As technological innovations continue and economies prioritize sustainable development, the Asia Pacific region is poised to play a pivotal role in shaping the global energy storage landscape.

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Competitive Landscape

The key players studied in the Energy Storage Systems market are ABB Ltd (Switzerland), Altairnano (US), Amber Kinetics, Inc. (US), BYD Company Limited (China), Contemporary Amperex Technology Co., Limited (China), Convergent Energy and Power (US), Electrovaya Inc. (Canada), Exide Technologies (France), General Electric Company (US), LG Energy Solution Ltd. (South Korea), Panasonic Industry Co., Ltd. (Japan), Schneider Electric (US), Siemens AG (Siemens Energy) (Germany), SK E&S CO.LTD. (South Korea), and SMA Solar Technology AG (Germany).

Energy Storage Systems Market: Recent Developments

  • December 2023, Policymakers in India have acknowledged the significance of energy storage systems (ESS) for the nation’s changing electricity environment and have already granted over 8 GW of these contracts, with 60% of them being issued in 2023 alone.
  • October 2023, The Axelborg Convention Centre, located in the center of Copenhagen, served as the venue for the Energy Storage Summit Europe 2023. With an eye towards the future, the Summit sought to promote green and sustainable development in the industry by bringing together experts to discuss cutting-edge energy storage technology and creative applications.
  • September 2023, The Union Cabinet approved the viability gap funding (VGF) plan to build a reliable storage infrastructure for surplus solar and wind energy. The program calls for developing 4,000-megawatt hours (MWh) of Battery Energy Storage System (BESS) plants by FY31. The program has an initial investment of Rs 9,400 crore, which includes Rs 3,760 crore in government support.
  • August 2023, Hitachi, Ltd. received an order from Matsuyama Mikan Energy LLC, a business company founded jointly by Shikoku Electric Power Company, Incorporated (Shikoku Electric) and CHC Japan K. K (CHC Japan), for a set of grid energy storage systems for the Matsuyama Storage Plant, to be newly established in Matsuyama City, Ehime Prefecture. Using Hitachi Energy’s grid edge solutions, e-mesh PowerStore, battery energy storage system (BESS), which has extensive global expertise, Hitachi, Hitachi Energy, and Hitachi Power Solutions Co., Ltd. (Hitachi Power Solutions) are offering a set of grid energy storage systems.

Energy Storage Systems Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Energy Storage Systems Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Energy Storage Systems Market in terms of volume (GW).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Energy Storage Systems industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Energy Storage Systems Market along with the current trends and future estimations to depict imminent investment pockets. The overall Energy Storage Systems industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Energy Storage Systems Market are also analyzed.

Energy Storage Systems Market Segmentation

By Technology

  • Pumped Hydro Storage
  • Electro-Chemical Storage
    • Lithium Ion Battery
    • Sodium Sulfur Battery
    • Lead Acid Battery
    • Flow Battery
    • Others
  • Electro-Mechanical Storage
    • Flywheel
    • Compressed Air Energy Storage
  • Thermal Storage
    • Water
    • Molten Salt
    • Phase Change Material
    • Others

By Capacity

  • Small-scale
  • Large-scale

By Application

  • Transportation
  • Grid Management
    • Commercial
    • Residential
    • Others

By End User

  • Residential
  • Non-Residential
  • Utilities

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

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Blue Hydrogen Market
December, 2023

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Blue Hydrogen market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 51.4 billion by 2033.

Blue hydrogen is produced through a process called steam methane reforming, where natural gas is converted into hydrogen and carbon dioxide (CO2) with carbon capture and storage (CCS) to mitigate environmental impact. Unlike grey hydrogen, which emits CO2 directly, blue hydrogen captures and stores its carbon emissions underground. While considered a transitional solution, critics argue that it still relies on fossil fuels and may pose environmental risks. Proponents see it as a pragmatic step towards decarbonizing the hydrogen sector, providing a cleaner alternative to conventional methods while infrastructure for green hydrogen production is being developed.

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Blue Hydrogen Market: Key Drivers

The surge in regulations addressing greenhouse gas (GHG) emissions has propelled the growth of the blue hydrogen market. Governments globally are intensifying efforts to combat climate change, imposing stringent emission reduction targets on industries. Blue hydrogen, produced through steam methane reforming with carbon capture and storage (CCS), aligns with these regulations by significantly lowering carbon dioxide (CO2) emissions compared to conventional grey hydrogen production. The process involves capturing and storing CO2 underground, mitigating its environmental impact.

As nations commit to net-zero goals, blue hydrogen serves as a transitional solution, offering a cleaner alternative to traditional hydrogen production methods reliant on fossil fuels. Incentives and subsidies further encourage industries to adopt blue hydrogen, fostering market expansion. Additionally, partnerships between governments and private sectors promote the development of carbon capture technologies, enhancing the feasibility and scalability of blue hydrogen production.

The regulatory push, coupled with growing awareness of environmental sustainability, positions blue hydrogen as a pivotal player in the evolving energy landscape. Its capacity to meet emission standards while maintaining energy security underscores its role as a bridge towards a more sustainable hydrogen economy amid the ongoing global shift towards cleaner energy sources.

Blue Hydrogen Market: Market Restraints and Challenges

The growth of the blue hydrogen market faces hindrance due to energy loss incurred during its production. The process of blue hydrogen production, involving steam methane reforming and carbon capture and storage (CCS), demands substantial energy input. The energy-intensive nature of this method diminishes its overall efficiency and environmental benefits. The conversion of natural gas into hydrogen and the subsequent capture and storage of carbon dioxide (CO2) involve complex operations, each contributing to energy losses at various stages.

High energy requirements not only reduce the economic viability of blue hydrogen but also counteract its intended role in mitigating greenhouse gas emissions. The energy loss diminishes the net environmental gains achieved by capturing and storing CO2. This inefficiency raises concerns about the actual carbon footprint of blue hydrogen and its competitiveness against other cleaner alternatives, such as green hydrogen produced through renewable energy sources.

Blue Hydrogen Market Report Findings

https://www.globalinsightservices.com/reports/blue-hydrogen-market/

The Steam Methane Reforming segment is likely to hold the major share of the market in 2022

On the basis of Technology, the Blue Hydrogen Market is segmented into Steam Methane Reforming, Gas Partial Oxidation, and Auto Thermal Reforming. The Steam Methane Reforming segment is expected to have the largest Blue Hydrogen market share in 2023. SMR is a dominant method for blue hydrogen production, involving the conversion of natural gas into hydrogen and carbon dioxide (CO2) with subsequent carbon capture and storage. Widely adopted in the industry, SMR provides a mature and scalable technology for large-scale hydrogen production. As demand for hydrogen rises and nations embrace cleaner energy solutions, the established infrastructure and efficiency of SMR contribute to the expansion of the blue hydrogen market, positioning it as a crucial player in the transition towards a more sustainable energy landscape.

The Pipeline segment is likely to hold the major share of the market in 2022

Based on Transportation, the Blue Hydrogen Market is classified into Pipeline and Cryogenic Liquid Tankers. The Pipeline segment is expected to have the largest Blue Hydrogen market share in 2023. As blue hydrogen production centers emerge, an efficient transportation infrastructure is essential. Pipelines offer a reliable and cost-effective means to transport hydrogen from production facilities to end-users, fostering the market’s expansion. This dedicated infrastructure facilitates the integration of blue hydrogen into existing energy systems, supporting industries and regions in their transition towards cleaner energy sources. The development and optimization of hydrogen pipelines contribute to the overall viability and competitiveness of blue hydrogen, reinforcing its position as a key player in the evolving landscape of sustainable energy solutions.

The Power Generation segment is likely to hold the major share of the market in 2022

On the basis of Application, the Blue Hydrogen Market is segmented into Chemical, Petroleum Refinery, Power Generation, and Others. The Power Generation segment is expected to have the largest Blue Hydrogen market share in 2023. Blue hydrogen serves as a versatile and low-carbon energy source, particularly valuable in power generation. As nations transition towards cleaner energy alternatives, blue hydrogen’s role in providing a reliable and dispatchable energy option becomes crucial. Power plants can efficiently utilize blue hydrogen to produce electricity, offering a cleaner alternative to conventional fossil fuels. This versatility positions blue hydrogen as a key player in the evolving energy mix, contributing to a more sustainable and environmentally friendly power generation landscape.

The North America region is likely to hold the major share of the market in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to have the largest Blue Hydrogen market share in 2023. With a proactive approach to carbon reduction and a commitment to cleaner energy, North American countries are investing in blue hydrogen as a transitional solution. Robust regulatory frameworks, financial incentives, and collaborations between governments and industries support the development of blue hydrogen projects. The region’s existing infrastructure and access to abundant natural gas resources further contribute to its prominence in the blue hydrogen market, positioning North America as a key driver in the global shift towards sustainable and low-carbon hydrogen solutions.

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Competitive Landscape

The key players studied in the Blue Hydrogen market are Aker Solutions ASA (Norway), BP p.l.c. (UK), Dastur Energy (US), Eni S.p.A. (Italy), Equinor ASA (Norway), Exxon Mobil Corporation (US), Honeywell International Inc. (US), INEOS (UK), Johnson Matthey Plc (UK), Linde plc (Ireland), Petrofac Limited (US), Shell (UK), Technip Energies N.V. (France), thyssenkrupp Uhde GmbH (Germany), and Topsoe A/S (Denmark).

Blue Hydrogen Market: Recent Developments

  • November 2023, The current hydrogen production plant in Rotterdam, Netherlands, will have a carbon capture and carbon dioxide (CO2) treatment facility constructed, owned, and run by Air Products and Chemicals. The project is anticipated to come online in 2026. Through Air Products’ hydrogen pipeline network system, Exxon Mobil’s Rotterdam refinery and other clients will receive the blue hydrogen product that is produced.
  • April 2023, A new collaboration between Casale SA and Technip Energies aims to license technologies based on oxidative reforming, auto thermal reforming (ATR), and partial oxidation (POx) for the blue hydrogen market.
  • February 2023, The world-scale blue ammonia factory being built by OCI in Beaumont, Texas, will get clean hydrogen and other industrial gases from Linde under a long-term arrangement that was just inked. To supply clean hydrogen to OCI’s global blue ammonia project on the US Gulf Coast, Linde is investing $1.8 billion.
  • May 2022, BP has made significant progress in fortifying its strategic alliance with ADNOC and Masdar of Abu Dhabi by enlisting global involvement in its proposed blue and green hydrogen projects on Teesside, northeast England. ADNOC will invest 25% of the design phase of BP’s H2Teesside blue hydrogen project. ADNOC’s first investment in the UK will be this one. The project will now be advanced by BP and ADNOC, initially to the pre-FEED level of design. By 2030, H2Teesside is scheduled to create two 500MW hydrogen production units, launching the UK’s hydrogen economy on a large scale. The goal of the project is to begin operations in 2027.

Blue Hydrogen Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Blue Hydrogen Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Blue Hydrogen Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Blue Hydrogen industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Blue Hydrogen Market along with the current trends and future estimations to depict imminent investment pockets. The overall Blue Hydrogen industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Blue Hydrogen Market are also analyzed.

Blue Hydrogen Market Segmentation

By Technology

  • Steam Methane Reforming
  • Gas Partial Oxidation
  • Auto Thermal Reforming

By Transportation

  • Pipeline
  • Cryogenic Liquid Tankers

By Application

  • Chemical
  • Petroleum Refinery
  • Power Generation
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

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Hydrogen Generation Market
December, 2023

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Hydrogen Generation Market is expected to grow rapidly over the next 10 years to reach at a rate of 7.5% from 2024 to 2033.

Hydrogen production is the industrial methods for generating hydrogen gas. There are four main sources for the commercial production of hydrogen: natural gas, oil, coal, and electrolysis of water; which account for 48%, 30%, 18% and 4% of the world’s hydrogen production respectively.

Hydrogen plays a important role in the chemicals and oil & gas industry. Hydrogen extracted from various processes is classified into three types blue hydrogen, grey hydrogen, and green hydrogen. Grey hydrogen is hydrogen produced from fossil fuel resource where carbon capture and storage process is not implemented. Furthermore, this type of hydrogen releases carbon dioxide into environment as a byproduct.

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Global Hydrogen Generation Market: Market Drivers and Trends

The hydrogen generation market is experiencing significant growth. One of the primary factors is the global shift towards clean and sustainable energy solutions. With increasing concerns about climate change and the need to reduce carbon emissions, there is a growing emphasis on green hydrogen production methods, such as electrolysis powered by renewable energy sources. Governments and industries worldwide are investing heavily in the development of hydrogen infrastructure, further fostering the market growth.

Additionally, hydrogen’s versatility as an energy carrier and its potential to decarbonize various sectors, including transportation, industry, and power generation, are fueling its demand. The rising focus on energy security and the diversification of energy sources also contribute to the expansion of the hydrogen generation market.

Furthermore, advancements in hydrogen production technologies, including innovative electrolysis and steam methane reforming processes, are driving efficiency improvements and cost reductions, making hydrogen a more economically viable option. As the world continues its transition towards a sustainable and low-carbon future, the hydrogen generation market is poised to play a pivotal role in shaping the global energy landscape.

Global Hydrogen Generation Market: Market Restraints and Challenges

The hydrogen generation market faces several notable restraints and challenges that impede its widespread adoption and growth. One primary obstacle is the high cost associated with certain hydrogen production methods, such as electrolysis, which relies on expensive materials like platinum for catalysts.

Additionally, the current reliance on fossil fuels for hydrogen production through processes like steam methane reforming (SMR) contributes to carbon emissions, undermining the environmental benefits of hydrogen as a clean energy carrier. Infrastructure constraints pose another hurdle, as the establishment of an extensive hydrogen distribution network requires significant investments and coordination.

Furthermore, the intermittent nature of renewable energy sources, such as wind and solar, which are often used in green hydrogen production, poses challenges in achieving consistent and reliable hydrogen output. Addressing these issues necessitates concerted efforts in research and development, policy support, and investment to make hydrogen a viable and competitive solution for a sustainable energy future.

Global Hydrogen Generation Market Report Findings

https://www.globalinsightservices.com/reports/hydrogen-generation-market/

The Blue Hydrogen  segment is likely to hold the major share of the market in 2023

Based on the Hydrogen Type, the Hydrogen Generation market is segmented into Blue Hydrogen, Gray Hydrogen, and Green Hydrogen. In 2023, the blue hydrogen segment accounted for the significaant share of the overall revenue with instances reflecting its increasing significance as a low-carbon fuel. Produced by combining natural gas with steam in the steam reforming process, blue hydrogen distinguishes itself by capturing and storing CO2 emissions at the production site through carbon capture and storage (CCS). This environmentally friendly approach, coupled with its applications in powering vehicles, generating energy, and heating buildings, positions blue hydrogen as a versatile solution. One notable instance showcasing the potential of blue hydrogen is its application in fuel cell-powered vehicles. Governments worldwide are actively supporting the adoption of fuel cell technology to curb greenhouse gas emissions. In response, substantial subsidies, tax breaks, and investments in infrastructure are being directed towards fuel cell vehicles. These efforts are expected to drive the demand for blue hydrogen, given its role as a clean and efficient energy source for fuel cells.

Furthermore, industry developments highlight the growing momentum of the blue hydrogen market. As of January 2022, the International Energy Agency (IEA) reported at least 50 blue hydrogen projects in progress globally, with a forecasted capacity growth of more than tenfold by 2030. An exemplary project, a joint venture between Equinor and Engie, plans to produce low-carbon hydrogen at scale and competitive cost levels using auto thermal reforming (ATR). This process achieves decarbonization rates exceeding 95%, emphasizing the viability and sustainability of blue hydrogen.

The Electrolysis segment is likely to hold the major share of the market in 2023

On the basis of Technologies, the market is segmented into Steam Methane Reforming (SMR), Partial Oxidation (POX), Coal Gasification, and Electrolysis. In 2023, the electrolysis segment accounted for the significaant share of the overall revenue. Electrolysis has emerged as a pivotal technology driving significant growth within the hydrogen generation market. This innovative process involves the splitting of water molecules into hydrogen and oxygen using electrical current, offering a clean and sustainable method for producing hydrogen. As the global focus intensifies on decarbonization and the transition to renewable energy sources, electrolysis stands out as a key enabler, facilitating the production of green hydrogen without greenhouse gas emissions. The demand for hydrogen as a versatile energy carrier has skyrocketed, driven by applications in sectors such as transportation, industry, and power generation.

Electrolysis, particularly proton exchange membrane (PEM) and alkaline electrolysis, has gained prominence due to its scalability, efficiency improvements, and the ability to integrate seamlessly with renewable energy sources like wind and solar. With governments and industries increasingly prioritizing hydrogen as a crucial element in achieving sustainability goals, electrolysis technology is poised to play a pivotal role in shaping the future of hydrogen generation, fostering a cleaner and more resilient energy paradigm.

The Merchant segment is likely to hold the major share of the market in 2023

Based on Generation and Delivery Mode, the market is bifurcated into Captive, and Merchant. Among these, in 2023, merchant segment dominated the global market. Merchant hydrogen generation refers to the production of hydrogen by specialized facilities that are independent of end-users, allowing for the distribution and sale of hydrogen to various industries or consumers through bulk tanks, pipelines, or cylinder trucks. In several countries, including the U.S., Canada, and Russia, the extensive pre-existing natural gas pipeline networks offer a viable infrastructure for the transportation and distribution of hydrogen. This method allows for efficient and widespread delivery of hydrogen to end-users, leveraging existing pipeline networks for a seamless integration into the energy supply chain.

This segment’s growth is propelled by the increasing demand for clean energy solutions and the pivotal role hydrogen plays in decarbonizing diverse sectors. The on-site generation mode, where hydrogen is produced at or near the point of use, has gained traction due to its efficiency and cost-effectiveness, fostering sustainability across applications such as refining, chemicals, and transportation. Additionally, the rise of innovative technologies, such as electrolysis and steam methane reforming, further amplifies the merchant hydrogen market’s expansion by offering scalable and environmentally friendly methods of production. As the world transitions towards a low-carbon future, the merchant segment’s growth in hydrogen generation reflects its pivotal role in supplying a versatile and green energy carrier to meet the evolving needs of industries worldwide.

The Wind Power segment is likely to hold the major share of the market in 2023

On the basis of Primary Energy Source, the market is segmented into Natural Gas, Coal, Wind Power, Solar Power, Hydro Power, Biomass, and Others. Out of these, wind power segment is expected to witness the fastest growth rate during the forecast period. As the demand for clean and sustainable energy solutions intensifies, wind power has emerged as a frontrunner in the generation of hydrogen a pivotal component in the global transition towards a low-carbon economy. Harnessing the kinetic energy of the wind, wind turbines convert it into electricity, which is subsequently employed in electrolysis processes to produce hydrogen. This method not only offers a clean and environmentally friendly alternative to conventional hydrogen production methods but also addresses the intermittent nature of renewable energy sources by providing a viable storage solution. The increasing emphasis on decarbonization and the integration of renewable resources into the energy landscape positions the Wind Power segment as a key player in shaping the future of hydrogen generation, contributing to a more sustainable and resilient energy infrastructure.

However, In 2023, the hydrogen generation industry was predominantly led by natural gas, commanding a substantial revenue share. This dominance can be attributed to the prevalent method of hydrogen production through natural gas reforming, yielding hydrogen alongside carbon monoxide and carbon dioxide. The cost-effectiveness of this approach solidifies its position as the most economical means of hydrogen production. Projections indicate that hydrogen generation from natural gas is poised to maintain its leading position throughout the forecast period.

The Power Generation segment is likely to hold the major share of the market in 2023

Based on Application, the market is segmented into Methanol Production, Ammonia Production, Refining, Transportation, Power Generation, and Others. Among these, Power Generation segment dominating in 2023, holding the majority share of revenue. This is due to its important role in addressing the global transition towards sustainable energy sources. As industries and nations increasingly prioritize clean energy solutions, hydrogen has emerged as a key player in decarbonizing power generation. The demand for green hydrogen, produced through electrolysis powered by renewable energy, is particularly propelling this segment’s expansion. This approach not only ensures a low-carbon footprint but also enhances energy security. With advancements in electrolyzer technologies and a growing commitment to reducing greenhouse gas emissions, hence aforementioned factors fuel the industry growth during the forecast period.

The Asia-Pacific region is accounted for the majority of market share in 2023

Based on region, market is studied across North America, Europe, Asia-Pacific, and Rest of the World. In 2023,
the Asia-Pacific region in the Hydrogen Generation Market has witnessed robust growth, propelled by escalating demand for hydrogen in power generation, particularly in China and India. Government initiatives promoting clean energy in countries like India, Japan, and Australia further contribute to this growth trajectory. Robust economic development in South Korea, China, Japan, and India has spurred the hydrogen-generating industry’s expansion, accompanied by a notable rise in demand for fuel cell-powered electric vehicles. Additionally, the region is witnessing an increase in power generation through renewable energies. China, being the most significant and fastest-growing market, has outlined ambitious plans to manufacture 100,000-200,000 metric tons of green hydrogen annually by 2025, substantially reducing CO2 emissions. Regional producers are strategically expanding their reach into developing nations like Vietnam, Indonesia, and South Africa, while U.S.-based players, such as Praxair Inc. and Air Liquide, are focusing on operational expansions in response to increasing hydrogen demand.

The hydrogen generation industry in North America has experienced substantial growth, notably in methanol and ammonia production. In Europe, the growth of hydrogen generation is anticipated due to the increasing adoption of fuel cell vehicles supported by projects initiated by the European Commission. This proactive approach aims to develop a robust hydrogen infrastructure for fuel cell vehicles across major European countries.

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Competitive Landscape

The key players studied in the global Hydrogen Generation Market are Air Liquide (France), Air Products Inc. (US), Cummins Inc. (US), ENGIE (France), Iberdrola, S.A. (Spain), ITM Power (UK), Linde plc (Ireland), Nel ASA (Norway), Siemens (Germany), and Uniper SE (Germany), among others.

Global Hydrogen Generation Market: Recent Developments

  • In August 2022. Larsen & Toubro (L&T) commissioned a green hydrogen plant at its AM Naik Heavy Engineering Complex in Hazira, Gujarat, India. The plant is likely to produce 45 Kg of green hydrogen daily, which will be used for captive consumption in the company’s Hazira manufacturing complex.
  • In March 2022, Air Products Inc. announced that it would develop and operate the brand new green liquid hydrogen generation plant in Casa Grande, Arizona. The plant will produce carbon-free liquid hydrogen, which is anticipated to enter the market in 2023.
  • In April 2022, Masdar and Hassan Allam signed an agreement to establish green hydrogen production plants in Egypt’s Suez Canal Economic Zone and along the Mediterranean coast, with 4 gigawatts (GW) of electrolyzer capacity and 480,000 tons of green hydrogen per year by 2030.
  • In July 2020, Air Products and ThyssenKrupp Uhde Chlorine Engineers signed a strategic collaboration agreement. The two companies have formed an exclusive partnership in strategic regions to construct green hydrogen projects. This partnership will use both companies’ complementary technological, engineering, and project execution skills.

Global Hydrogen Generation Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Hydrogen Generation Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Hydrogen Generation Market potential from 2022 to 2032 in terms of revenue ($ Million).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Hydrogen Generation Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Hydrogen Generation Market industry.

Market Segmentation

By Hydrogen Type

  • Blue Hydrogen
  • Gray Hydrogen
  • Green Hydrogen

By Technologies

  • Steam Methane Reforming (SMR)
  • Partial Oxidation (POX)
  • Coal Gasification
  • Electrolysis

By Generation and Delivery Mode

  • Captive
  • Merchant

By Primary Energy Source

  • Natural Gas
  • Coal
  • Wind Power
  • Solar Power
  • Hydro Power
  • Biomass
  • Others

By Application

  • Methanol Production
  • Ammonia Production
  • Refining
  • Transportation
  • Power Generation
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
Key Players
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Hydrogen Energy Storage Market
December, 2023

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Hydrogen Energy Storage market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 24.0 billion by 2033.

Hydrogen energy storage involves capturing and storing energy by converting electrical power into hydrogen through electrolysis, separating water into hydrogen and oxygen. The produced hydrogen is then stored until needed, and when energy demand rises, it can be reconverted into electricity through fuel cells or combustion. This process enables efficient storage of surplus renewable energy, addressing intermittent power generation issues. Hydrogen’s versatility makes it a promising solution for long-term energy storage, supporting the transition to a more sustainable and resilient energy system.

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Hydrogen Energy Storage Market: Key Drivers

The integration of renewable energy sources, such as solar and wind, into electricity grids has become a pivotal driver for the burgeoning hydrogen energy storage market. As renewables are inherently intermittent, the ability to store excess energy during peak generation periods and release it when demand is high enhances grid stability. Hydrogen emerges as a key storage medium due to its versatility and capacity for large-scale, long-duration storage.

During times of excess renewable energy production, electrolysis is employed to split water into hydrogen and oxygen. The generated hydrogen is then stored, often in underground caverns or tanks. When energy demand surges or renewables output diminishes, stored hydrogen can be utilized in fuel cells to produce electricity, offering a reliable and flexible energy supply.

This synergy between renewable energy integration and hydrogen storage addresses the challenge of grid intermittency, supporting a more reliable and resilient energy infrastructure. Governments and industries globally are recognizing this potential, propelling the growth of the hydrogen energy storage market as a crucial component in achieving sustainable and decarbonized energy systems. The continued expansion of this market holds promise for a cleaner and more sustainable energy future.

Hydrogen Energy Storage Market: Market Restraints and Challenges

The burgeoning hydrogen energy storage market faces a significant hurdle in its growth trajectory – the higher cost of hydrogen energy storage systems. The capital-intensive nature of building, maintaining, and integrating these systems into existing infrastructure poses a formidable barrier. The expense is primarily attributed to the complex technologies involved in electrolysis, storage, and subsequent energy conversion processes.

Electrolyzers, a critical component in hydrogen production, demand substantial upfront investments, further contributing to the elevated overall cost. Additionally, the infrastructure for storing and transporting hydrogen, often requiring specialized facilities and equipment, adds to the economic challenges.

Hydrogen Energy Storage Market Report Findings

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The Solid segment is likely to hold the major share of the market in 2022

On the basis of State, the Hydrogen Energy Storage Market is segmented into Gas, Liquid, and Solid. The Solid segment is expected to have the largest Hydrogen Energy Storage market share in 2023. Offering higher energy density and enhanced safety, solid-state technologies, such as metal hydrides and ammonia borane, outperform traditional methods. Their compact footprint and longer storage durations make them particularly suited for applications like transportation and grid storage. As costs decrease through ongoing research, the solid-state segment not only improves the efficiency of hydrogen storage but also accelerates the market’s growth, fostering a more sustainable and resilient energy landscape.

The Compression segment is likely to hold the major share of the market in 2022

Based on Technology, the Hydrogen Energy Storage Market is classified into Compression, Liquification, and Material Based. The Compression segment is expected to have the largest Hydrogen Energy Storage market share in 2023. Compressed hydrogen storage utilizes robust compression technologies to store hydrogen gas at high pressures. This method ensures efficient storage and transportation, addressing challenges associated with hydrogen’s low energy density. As advancements in compression technologies progress, the cost-effectiveness of this segment improves, fostering widespread adoption. The compression segment’s contribution enhances the overall viability of hydrogen energy storage solutions, supporting their integration into diverse applications and bolstering the market’s expansion as a crucial component of sustainable energy systems.

The Industrial segment is likely to hold the major share of the market in 2022

On the basis of End-User, the Hydrogen Energy Storage Market is segmented into Industrial, Commercial, and Electric Utilities. The Industrial segment is expected to have the largest Hydrogen Energy Storage market share in 2023. Industries increasingly adopt hydrogen energy storage for diverse applications, including power backup, process optimization, and emissions reduction. As hydrogen gains traction as a clean energy carrier, industries seek reliable and scalable storage solutions. The versatility of hydrogen meets the energy demands of various industrial processes, enhancing operational efficiency and environmental sustainability. Government incentives and the growing focus on decarbonization further propel the industrial adoption of hydrogen energy storage, underscoring its pivotal role in fostering a greener and more resilient industrial energy landscape.

The Europe region is likely to hold the major share of the market in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Europe market is expected to have the largest Hydrogen Energy Storage market share in 2023. The region demonstrates a strong commitment to green energy transitions, with ambitious hydrogen strategies and investments. Robust policy frameworks, government incentives, and collaborations between public and private sectors drive innovation and adoption. European countries actively integrate hydrogen into their energy mix, emphasizing its role in decarbonization and grid stability. Strategic projects, like hydrogen valleys and cross-border infrastructure initiatives, underscore Europe’s pivotal position in advancing hydrogen energy storage solutions, contributing to a more sustainable and resilient energy landscape across the continent.

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Competitive Landscape

The key players studied in the Hydrogen Energy Storage market are Air Products and Chemicals, Inc. (US), Altergy Systems (US), BALU FORGE INDUSTRIES LIMITED (India), Energy Vault, Inc. (Switzerland), GKN Hydrogen GmbH (Germany), Hexagon Purus ASA (Norway), LAVO Hydrogen Storage Technology Pty Ltd (Australia), Linde plc (UK), Magna International Inc. (Canada), Mitsubishi Heavy Industries, Ltd. (Japan), NPROXX B.V. (The Netherlands), Powertech Labs Inc. (Canada), Pure Energy Centre (UK), Schlumberger Limited (US), and TWI Ltd (UK).

Hydrogen Energy Storage Market: Recent Developments

  • October 2023, Three projects in Ontario, Canada, have chosen EVLO Energy Storage to supply battery storage systems with a 4-hour endurance.
  • September 2023, Via its Chevron New Energies division, Chevron U.S.A. Inc. announced that it had closed a deal with Haddington Ventures to acquire 100% of Magnum Development, LLC (Magnum Development) and a majority stake in ACES Delta, LLC (ACES Delta), a joint venture between Magnum Development and Mitsubishi Power Americas, Inc. (Mitsubishi Power). ACES Delta is building the advanced clean energy storage hydrogen project in Delta, Utah.
  • September 2023, Union Minister of Electricity and New & Renewable Energy RK Singh declared that India was preparing to request bids for a pilot project using green hydrogen as a storage option to provide 100 MW of round-the-clock (RTC) electricity. This action was taken in response to early research by the government into the potential use of green hydrogen and green ammonia as energy storage technologies to help the nation fulfill its need for electricity during the day when solar power is unavailable.
  • September 2023, According to a Royal Society assessment, the construction of large-scale hydrogen storage facilities must start immediately if the UK government hopes to fulfill its net zero objectives. The greatest option to address the nation’s long-term storage demands, it continues, would be to store hydrogen in shuttered salt mines since they have the lowest cost per unit of energy storage capacity.

Hydrogen Energy Storage Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Hydrogen Energy Storage Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Hydrogen Energy Storage Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Hydrogen Energy Storage industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Hydrogen Energy Storage Market along with the current trends and future estimations to depict imminent investment pockets. The overall Hydrogen Energy Storage industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Hydrogen Energy Storage Market are also analyzed.

Hydrogen Energy Storage Market Segmentation

By State

  • Gas
  • Liquid
  • Solid

By Technology

  • Compression
  • Liquification
  • Material Based

By End-User

  • Industrial
  • Commercial
  • Electric Utilities

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

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Solar Lease Service Market
December, 2023

New York, December 2023: According to a new research study by Global Insight Services (GIS), the Solar Lease Service Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 55.9 billion by 2032.

Solar Lease Service is a type of solar financing that allows homeowners to lease solar panels from a third-party company. This type of financing is becoming increasingly popular as it allows homeowners to take advantage of the financial benefits of solar energy without the upfront cost of purchasing and installing the system. With Solar Lease Service, homeowners pay a monthly fee to the third-party company in exchange for the use of the solar panels.

Solar Lease Service is a great option for homeowners who don’t have the upfront funds to purchase and install a solar system. It also allows homeowners to take advantage of the financial benefits of solar energy without needing to worry about maintenance or repairs. The third-party company typically handles all aspects of the solar system, from installation to monitoring and repair..

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Global Solar Lease Service Market: Market Drivers and Trends

Solar lease service is an agreement between a solar energy service provider and a customer wherein the service provider agrees to install, own, and maintain solar energy systems on the customer’s property. The customer agrees to pay a fixed monthly fee for the solar energy service. Solar lease service is gaining popularity in the market due to its various advantages such as cost savings, environmental benefits, and hassle-free maintenance.

The key drivers of the solar lease service market are as follows:

1. Increasing Demand for Solar Energy: The increasing demand for solar energy is one of the major drivers of the market. This is mainly due to the increasing awareness about the environmental benefits of solar energy. As people become more conscious of the environment, they are increasingly turning to solar energy as an alternative to traditional sources of energy. This has led to a surge in the demand for solar energy, which in turn is driving the growth of the solar lease service market.

2. Government Support: Government support is another key driver of the market. Governments across the world are encouraging the adoption of solar energy through various initiatives such as subsidies, tax incentives, and other financial incentives. These initiatives are making solar energy more affordable and attractive to customers, which is driving the growth of the solar lease service market..

Global Solar Lease Service Market: Market Restraints and Challenges

The Solar Lease Service market is a rapidly evolving industry, and as with any new industry there are numerous challenges and restraints that must be navigated in order to ensure success. The most prominent restraints and challenges in the Solar Lease Service market can be broken down into three primary categories: financing, technology, and regulations.

Financing: Solar lease services require large upfront capital investments to cover the cost of the solar equipment and installation. This is a major cost barrier for many businesses and households, as the cost of solar equipment and installation can be quite high. Additionally, the current economic climate has made it difficult for many households and businesses to secure financing for solar lease services. As a result, many potential customers are unable to take advantage of the benefits of solar lease services.

Technology: Solar technology is still relatively new and there is a lot of room for improvement and innovation. As the technology continues to evolve, it is important for solar lease companies to stay ahead of the curve and provide customers with the most up-to-date and efficient technology. Additionally, there is a need for reliable and cost-effective energy storage solutions in order for solar lease services to be truly successful..

Global Solar Lease Service Market Report Findings

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The Commercial segment is likely to hold the major share of the market in 2022

Based on end user, the Solar Lease Service Market is segmented into Residential, Commercial, Industrial, Utilities, and Government & Non-profit. The commercial segment is expected to dominate the market during the forecast period.

The Polycrystalline segment is likely to hold the major share of the market in 2022

By solar panel type, the market is classified into Monocrystalline, Polycrystalline, Thin Film, and others. The Polycrystalline segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period.

The Host Owned segment is likely to hold the major share of the market in 2022

Based on ownership model, the Solar Lease Service Market is segmented into Third Party Ownership, Host Owned, Community Solar, Solar Leasing, Solar Power Purchase Agreement (PPA), and Others. In 2022, the Host Owned segment dominated the market in terms of revenue and is expected to be the same during the upcoming years.

The rooftop segment is likely to hold the major share of the market in 2022

Based on mounting type, the Solar Lease Service Market is segmented into Ground Mounted, Rooftop, Floating PV, Building Integrated PV (BIPV), Others. The Rooftop segment is expected to dominate the market during the forecast period.

The On-Grid segment is likely to hold the major share of the market in 2022

Based on connection type, the Solar Lease Service Market is segmented into On-Grid, Off-Grid, and Hybrid. The on-grid segment is expected to dominate the market during the forecast period.

The North America region is accounted for the majority of market share in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Solar Lease Service Market value followed by Asia Pacific. North America’s solar lease services market is experiencing growth due to favorable legislation, increasing power prices, and greater adoption of residential solar installations. The Asia Pacific market is expected to become the second-largest market for solar lease services, with factors such as high-energy demand, decreasing panel costs, and plans to expand renewable capacity driving its growth. Meanwhile, the Middle East and Africa market is predicted to be the fastest-growing solar lease services market during the projection period, driven by rising energy demands and abundant solar irradiation levels.

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Competitive Landscape

The key players studied in the global Solar Lease Service Market are SunPower Corporation , SunRun Inc., Vivint Solar Inc. , Tesla Inc. , JinkoSolar Holding Co. Ltd. , Canadian Solar Inc., Yingli Green Energy Holding Co. Ltd., Trina Solar Limited, JA Solar Holdings Co. Ltd. , and Hanwha Q CELLS Co. Ltd. among others.

Global Solar Lease Service Market: Recent Developments

  • In January 2022, Vivint Solar introduced a loan solution for homes, offering an alternate financing option to leases and power purchase agreements. The loan provides flexible payment periods as well as system ownership.
  • In August 2021, Sunrun purchased solar leasing company Vivint Solar in an all-stock transaction, combining two large residential solar firms in the United States.
  • In June 2021, SunRun launched a virtual power plant service, which allows network control of household solar and storage systems to provide electricity to the grid. This is a collection of renewable energy from solar customers.
  • In July 2020, SunPower and Maxeon Solar Technologies have agreed to a multi-year supply arrangement for high-efficiency solar panels. This ensures a steady supply of panels for SunPower’s solar lease services.
  • In April 2020, Tesla purchased SolarCity, a home solar provider, to merge solar panel production and lease services. This enabled Tesla to provide complete renewable energy solutions.

Global Solar Lease Service Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Solar Lease Service Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Solar Lease Service Market potential from 2022 to 2032 in terms of revenue ($ Million), and Volume (Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Solar Lease Service Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Solar Lease Service Market industry.

Global Solar Lease Service Market Segmentation

By End-User

  • Residential
  • Commercial
  • Industrial
  • Utilities
  • Government & Non-profit

By Solar Panel Type

  • Monocrystalline
  • Polycrystalline
  • Thin Film
  • Others

By Ownership Model

  • Third Party Ownership
  • Host Owned
  • Community Solar
  • Solar Leasing
  • Solar Power Purchase Agreement (PPA)
  • Others

By Mounting Type

  • Ground Mounted
  • Rooftop
  • Floating PV
  • Building Integrated PV (BIPV)

By Connection Type

  • On-Grid
  • Off-Grid
  • Hybrid

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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Surge Protection Devices Market
December, 2023

New York, December 2023: According to a new research study by Global Insight Services (GIS), the Surge Protection Devices Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 4.1 billion by 2032.

Surge protection devices are devices designed to protect electrical equipment from sudden power surges. They are also known as surge suppressors, surge limiters, surge diverters, surge arresters, or transient voltage surge suppressors (TVSS). Surge protection devices are typically used in homes, businesses, industrial plants, and other locations where there is a risk of power surges. They are designed to protect electrical equipment from damage caused by sudden and excessive increases in voltage. Power surges can occur when lightning strikes nearby, when the power company makes a sudden change in the voltage level, or when there is a short circuit or power failure..

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Global Surge Protection Devices Market: Market Drivers and Trends

Surge Protection Devices (SPDs) are an important part of any electrical system and are used to protect electrical equipment from damage caused by power surges. They are used in a variety of applications including homes, businesses, and industrial settings.

The surge protection devices market has seen significant growth in recent years due to a number of key drivers. A key driver of the surge protection devices market is the increasing demand for energy efficiency. As energy prices continue to rise, consumers are looking for ways to reduce their energy bills. Surge protection devices can help reduce energy costs by preventing power surges from damaging expensive electrical equipment.

Another key driver of the surge protection devices market is the growing awareness of the risks associated with power surges. Power surges can damage electrical equipment and cause costly repairs or replacements. With the increasing awareness of the risks associated with power surges, more consumers are investing in surge protection devices to protect their equipment.

Global Surge Protection Devices Market: Market Restraints and Challenges

One of the main restraints of surge protection devices is their cost. As the level of protection increases, so does the cost of the device. The cost of these devices can be a major factor for many businesses and can limit their ability to purchase the necessary protection. Additionally, the complexity of the device can also add to the cost, as more complex SPDs require more components and workmanship to install.

Another challenge with surge protection devices is the lack of standardization. As there is no universal standard for SPDs, it can be difficult to determine which device is the best for a particular application. This can lead to a situation where the wrong device is installed, leading to inadequate protection of the equipment.

The installation of SPDs is also a challenge, as the devices must be installed correctly in order to provide the necessary protection. This can be a difficult process, as it requires a certain level of technical knowledge and understanding of the system. If the SPD is not installed correctly, it can render the device ineffective and can even lead to serious damage to the equipment..

Global Surge Protection Devices Market Report Findings

https://www.globalinsightservices.com/reports/surge-protection-devices-market/

The hard-wired segment is likely to hold the major share of the market in 2022

Based on product, the Surge Protection Devices is segmented into hard-wired, plug-in, line cord, and power control devices. The hard-wired segment is expected to dominate the market during the forecast period. SPDs that are hard-wired are often put on power lines to safeguard devices and outlets downstream from the device. They can also safeguard AC-powered, linked systems and equipment against transients, surges, and other AC power-induced events. Surge protection devices that are hardwired are also employed in commercial, industrial, and residential applications such as lighting circuits, motor controllers, and power distribution. As a result, hard-wired SPDs may be the most practical surge protection option for ensuring dependable operations and prolonged performance.

The type 2 segment is likely to hold the major share of the market in 2022

By type, the market is classified into Type 1, Type 2, Type 3, and Type 4. The Type 2 segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period. SPDs of Type 2 are intended for industrial and commercial use. Electrical equipment and distribution panels must be protected in an industrial or commercial facility since power outages or equipment damage can drastically reduce output. Type 2 surge protection devices’ primary duty is to reduce transient voltage and safeguard sensitive electronics and Mp/Mc-based boards. As a result, type 2 SPDs are generally found on the load side of the main service equipment.

The 100.1-200 kA segment is likely to hold the major share of the market in 2022

Based on power rating, the Surge Protection Devices is segmented into 0-50 kA, 50.1-100 kA, 100.1-200 kA, 200.1 kA and Above. In 2022, the 100.1-200 kA segment dominated the market in terms of revenue and is expected to be the same during the upcoming years. SPDs with a larger kA factor give extended product life rather than increased protection. As a result, SPDs with higher kA factors are best suited for industrial and data center applications. As a result, global demand for SPDs with power ratings of 100.1-200 kA is increasing.

The Industries & Manufacturing Units segment is likely to hold the major share of the market in 2022

Based on end-user, the Surge Protection Devices is segmented into Commercial Complexes, Data Center, Industries & Manufacturing Units, Medical, Residential Buildings & Spaces, Telecommunication, and Transportation. The Industries & Manufacturing Units segment is expected to dominate the market during the forecast period. Companies are using different automation systems and high-end electronics because of technological advancements and a strong emphasis on increasing profitability. Companies that use electrical equipment, on the other hand, are frequently vulnerable to power line anomalies and intense lightning, which can cause the equipment to fail. These malfunctions usually increase the company’s operational expenses. Because of its capacity to mitigate any overvoltage on the electrical distribution network, the usage of SPDs is expected to expand significantly over the projection period.

The North America region is accounted for the majority of market share in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Surge Protection Devices value followed by Asia Pacific. The area is known for being an early user of cutting-edge technologies. The region also has a high degree of awareness regarding the benefits of SPDs. In the United States, residential and commercial power use accounts for around 37% of overall electricity usage. The United States also has states like Florida, Louisiana, Mississippi, and Alabama that are prone to lightning strikes. As a result, the use of SPDs to safeguard electronic gadgets against rapid energy swings is widespread in these states. Because of all of these reasons, North America has emerged as the largest regional market.

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Competitive Landscape

The key players studied in the global Surge Protection Devices Market are ABB Ltd, General Electric Company, Schneider Electric , Eaton Corporation plc , Legrand , Emerson Electric Co., Siemens, CG Power and Industrial Solutions Limited, Littelfuse, Inc. , and Bourns, Inc. among others.

Global Surge Protection Devices Market: Recent Developments

  • In July 2023, Bourns introduced the 1420A line of high-performance DC surge protectors. This device is intended for DIN rail applications and provides surge protection up to 50 kA in a variety of configurations. It is designed for high-risk electrical service entries and panels, such as EV rapid chargers, battery energy storage systems (BESS), and solar energy generating systems. The device includes an Advanced Thermal Disconnector (TD+) for increased safety during abnormal overvoltage situations, as well as monitoring capabilities such as a window fault indication and a remote auxiliary output signal.
  • In July 2023, Schneider ElectricTM, offers the Easy UPS 3-Phase Modular. This dependable uninterruptible power supply (UPS) provides third-party-approved live swap capabilities while being designed to protect critical loads. The Easy UPS 3-Phase Modular supports the EcoStruxureTM architecture and is available in capacities ranging from 50 to 250 kW with N+1 expandability.
  • In June 2023, Raycap has introduced the ProTec PV Box 7y surge protection device for PV power systems and electric car charging stations. It is the most compact three-string system on the market, giving it a significant edge when it comes to placing solar panels on rooftops with limited space. What distinguishes it is its streamlined installation method, which allows for easy string installation without the use of tools thanks to features such as push-in connections, cable bushings, and MC4 connectors.
  • In February 2021, Power Xpert SPD is the latest addition to Eaton Corporation’s series of surge protection devices designed to help protect sensitive equipment. In addition to historical surge tracking, the device includes a comprehensive monitoring display and communication capabilities. It is suited for industrial settings where downtime due to surge situations is inconceivable.
  • In October 2020, Schneider Electric recalled Surgeloc surge protection devices owing to a fire danger. Schneider Electric Surgeloc Surge Protection Devices are subject to this recall. The 3-wire and 4-wire devices are mostly used in commercial/industrial applications, but they may also be used in select home applications. An arc event may occur in the Surgeloc surge prevention device, posing a fire danger.
  • In June 2020, Siemens Industry Inc., Automation & Drives Technologies, has expanded its portfolio of electrical system safeguards with the addition of Panamax home surge prevention solutions. The Siemens/Murray Panamax Power Alliance is a component of the company’s Residential Surge Voltage Protection (RSVP) marketing campaign.

Global Surge Protection Devices Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Surge Protection Devices Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Surge Protection Devices Market potential from 2022 to 2032 in terms of revenue ($ Million), and Volume (Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Surge Protection Devices Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Surge Protection Devices Market industry.

Global Surge Protection Devices Market Segmentation

By Product

  • Hard-wired
  • Plug-in
  • Line Cord
  • Power Control Devices

By Type

  • Type 1
  • Type 2
  • Type 3
  • Type 4

By Power Rating

  • 0-50 kA
  • 50.1-100 kA
  • 100.1-200 kA
  • 200.1 kA and Above

By End-User

  • Commercial Complexes
  • Data Center
  • Industries & Manufacturing Units
  • Medical
  • Residential Buildings & Spaces
  • Telecommunication
  • Transportation

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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Spent Nuclear Fuel Waste Management Market
December, 2023

New York, December 2023: According to a new research study by Global Insight Services (GIS), the Spent Nuclear Fuel Waste Management market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 6.8 billion by 2032.

Spent nuclear fuel waste management encompasses the systematic handling, storage, and ultimate disposition of used nuclear fuel generated in nuclear power plants. After the fuel has undergone fission reactions in the reactor, it becomes “spent” and contains highly radioactive isotopes. Initial management involves on-site storage in specially designed pools or dry casks to allow for radioactive decay and heat dissipation. Some countries pursue reprocessing, a method to extract useful materials and reduce waste volume, although this practice is not universally adopted due to proliferation concerns.

The long-term focus is on establishing secure geological repositories where the spent fuel can be safely isolated from the environment for thousands of years. Developing these repositories involves rigorous site selection, engineering barriers, and monitoring systems to ensure containment. Spent nuclear fuel waste management aims to mitigate environmental risks, prevent the release of radioactive substances, and address the long-term challenges associated with nuclear energy’s byproducts. Balancing technological, environmental, and societal considerations is essential in devising comprehensive strategies for the responsible management of nuclear waste.

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Spent Nuclear Fuel Waste Management Market: Key Drivers

The growing deployment of nuclear power plants significantly influences the expansion of the Spent Nuclear Fuel Waste Management Market. As countries increasingly turn to nuclear energy to meet their electricity needs, the accumulation of spent nuclear fuel becomes a critical consideration. This trend propels the demand for effective and secure waste management solutions.

Governments and industry stakeholders recognize the importance of developing robust strategies for handling and disposing of spent nuclear fuel responsibly. Investments in advanced technologies for on-site storage, reprocessing, and the establishment of secure repositories contribute to the growth of the market. The emphasis on nuclear energy as a low-carbon option further amplifies the need for comprehensive waste management solutions.

The market dynamics are shaped by ongoing research and development efforts to enhance storage methods, explore innovative disposal technologies, and address public concerns about nuclear waste. Overall, the increasing reliance on nuclear power globally serves as a catalyst for the continuous evolution and growth of the Spent Nuclear Fuel Waste Management Market.

Spent Nuclear Fuel Waste Management Market: Market Restraints and Challenges

Uncertainty and lack of clarity regarding the cost of spent nuclear fuel waste management pose challenges to the growth of the Spent Nuclear Fuel Waste Management Market. The complex nature of managing nuclear waste, including uncertainties associated with regulatory frameworks, technological advancements, and public perception, makes it difficult to accurately estimate and communicate the costs involved.

Investors, policymakers, and industry stakeholders may hesitate to commit resources without a clear understanding of the financial implications and potential future developments in waste management technologies. Additionally, evolving regulations and safety standards can contribute to uncertainties in cost projections.

Spent Nuclear Fuel Waste Management Market Report Findings

https://www.globalinsightservices.com/reports/spent-nuclear-fuel-waste-management-market/

The Pressurized Water Reactor segment is likely to hold the major share of the market in 2022

On the basis of Reactor Type, the Spent Nuclear Fuel Waste Management Market is segmented into Pressurized Water Reactor, Boiling Water Reactor, Gas Cooled Reactor, and Others. The Pressurized Water Reactor segment is expected to have the largest Spent Nuclear Fuel Waste Management market share in 2022. The growth of the Pressurized Water Reactor (PWR) segment in the Spent Nuclear Fuel Waste Management Market is influenced by the widespread use of PWR technology in nuclear power generation. PWRs are one of the most common types of nuclear reactors globally, known for their efficiency and safety features. As more countries invest in nuclear power and deploy PWRs for electricity generation, the volume of spent nuclear fuel from these reactors increases. This, in turn, drives the demand for effective waste management solutions tailored to the characteristics of PWR-generated nuclear waste. The PWR segment’s growth is also influenced by advancements in technologies specifically designed for PWR-derived spent fuel, including storage solutions, transportation methods, and potential reprocessing techniques. Tailoring waste management strategies to the unique characteristics of PWRs is essential for optimizing efficiency and safety in handling and disposing of nuclear waste. Therefore, the growth of the Pressurized Water Reactor segment reflects the broader expansion of nuclear energy and the need for specialized solutions to manage the associated spent nuclear fuel effectively.

The Near Surface Disposal segment is likely to hold the major share of the market in 2022

Based on Disposal Type, the Spent Nuclear Fuel Waste Management Market is classified into Near Surface Disposal and Deep Surface Disposal. The Near Surface Disposal segment is expected to have the largest Spent Nuclear Fuel Waste Management market share in 2022. The growth of the Near Surface Disposal segment in the Spent Nuclear Fuel Waste Management Market is influenced by its cost-effectiveness and suitability for certain types of low and intermediate-level nuclear waste. Near Surface Disposal involves placing radioactive waste in facilities located relatively close to the Earth’s surface, typically in engineered repositories. This approach is particularly applicable for waste with lower radioactivity levels and shorter half-lives, as it provides a viable and less complex alternative to deep geological repositories. The Near Surface Disposal segment’s growth is driven by its potential for accommodating specific types of spent nuclear fuel and radioactive waste, offering a practical solution for countries with regulatory approval for such facilities. Advancements in engineering and containment technologies contribute to the safety and efficacy of near surface disposal methods. The segment’s growth also reflects ongoing efforts to diversify waste management strategies, taking into account both the characteristics of the waste and the regulatory landscape. Hence, the Near Surface Disposal segment’s expansion is shaped by its cost-effectiveness and suitability for managing certain categories of radioactive waste, providing a pragmatic solution within the broader spectrum of spent nuclear fuel waste management.

The Europe region is likely to hold the major share of the market in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Europe region is expected to have the largest Spent Nuclear Fuel Waste Management market share in 2022. The growth of the Spent Nuclear Fuel Waste Management Market in Europe is driven by a combination of factors, including the region’s commitment to nuclear energy, evolving regulatory frameworks, and advancements in waste management technologies. Firstly, several European countries rely on nuclear power to meet a significant portion of their electricity needs. As these nations continue to operate and, in some cases, expand their nuclear power capacities, the management of spent nuclear fuel becomes a paramount concern, contributing to the growth of the market. Further, Europe has established rigorous regulatory standards for nuclear safety and waste management. This commitment to stringent regulations fosters the development and implementation of advanced and secure spent nuclear fuel management practices, creating opportunities for market growth. Moreover, the European region is known for investing in research and innovation. Ongoing efforts to improve waste management technologies, explore reprocessing options, and enhance storage solutions contribute to the growth and evolution of the market. Additionally, European countries often engage in collaborative efforts to address common challenges in the nuclear industry. Collaborative initiatives facilitate the exchange of knowledge and best practices, promoting effective and standardized approaches to spent nuclear fuel waste management.

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Competitive Landscape

The key players studied in the Spent Nuclear Fuel Waste Management market are Augean (UK), Perma-Fix (US), Svensk Kärnbränslehantering AB (Sweden), Ansaldo Energia S.p.A. (Italy), US Ecology, Inc. (US), Veolia Environnement SA (France), EnergySolutions (US), Bechtel Corporation (US), Orano Group (US), and Westinghouse Electric Company LLC (US).

Spent Nuclear Fuel Waste Management Market: Recent Developments

  • August 2023, The Swedish Nuclear Fuel Management Company SKB’s methodology is being used in the construction of Finland’s ultimate deposit for spent nuclear fuel. It is anticipated that the repository would receive its first spent fuel in the mid-2020s, making it the world’s first of its sort. Leading the world in the search for a permanent solution to the growing amounts of spent nuclear fuel are Sweden and Finland. Building and running Finland’s ultimate repository is the responsibility of Posiva, using a technique created by Swedish Nuclear Fuel Management Company SKB. Posiva is building this plant and is now applying for a licence to run it. Thus, Finland will be the first nation in the world to offer a repository where radioactive waste may be kept secure for a minimum of 1,00,000 years.
  • June 2023, The degree to which Sweden complies with international standards for the national framework for the management of radioactive waste and spent nuclear fuel has been subjected to a peer evaluation by an international team of specialists. The International Atomic Energy Agency has officially given the go-ahead for the release of the report that includes the expert team’s conclusions.
  • February 2023, As France attempts to make safe the results of its expanding reliance on atomic power, robotic arms led by specialists behind a protective barrier manipulate a pipe that will transform radioactive substances into glass at a nuclear waste facility in Normandy. The government, according to state-owned Orano, which operates the fuel-cooling pools at La Hague, on the northwest corner of the country, needs to come up with a long-term plan to upgrade its old infrastructure by 2025, since the pools may fill up by the end of the decade.

Spent Nuclear Fuel Waste Management Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Spent Nuclear Fuel Waste Management Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Spent Nuclear Fuel Waste Management Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Spent Nuclear Fuel Waste Management industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Spent Nuclear Fuel Waste Management Market along with the current trends and future estimations to depict imminent investment pockets. The overall Spent Nuclear Fuel Waste Management industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Spent Nuclear Fuel Waste Management Market are also analyzed.

Spent Nuclear Fuel Waste Management Market Segmentation

By Reactor Type

  • Pressurized Water Reactor
  • Boiling Water Reactor
  • Gas Cooled Reactor
  • Others

By Disposal Type

  • Near Surface Disposal
  • Deep Surface Disposal

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

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Wind Turbine Tower Market
December, 2023

New York, December 2023: According to a new research study by Global Insight Services (GIS), the Wind Turbine Tower market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 35.1 billion by 2032.

A wind turbine tower is a vital component of a wind energy system, serving as the structural support for the turbine’s blades and nacelle. Typically made of steel or concrete, these towers stand tall to harness the kinetic energy of the wind at higher altitudes where wind speeds are more consistent. The tower’s height is crucial for maximizing energy capture, as wind velocity increases with altitude.

The tower connects the turbine’s rotor to the ground-based generator through a shaft in the nacelle. It plays a pivotal role in ensuring the turbine operates efficiently by elevating the rotor above obstacles that could disrupt wind flow. Different tower designs exist, including tubular steel and lattice structures, each tailored to specific site conditions and turbine sizes.

Modern wind turbine towers are engineered for strength and durability, supporting the transition to renewable energy. As technology advances, taller towers are being developed to access stronger winds, contributing to the overall effectiveness and sustainability of wind power systems in the pursuit of clean energy solutions.

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Wind Turbine Tower Market: Key Drivers

The proliferation of wind farms has been a key driver in the growth of the wind turbine tower market. As countries worldwide seek sustainable and clean energy sources, wind power has emerged as a prominent solution, leading to a surge in the establishment of wind farms. These farms consist of multiple wind turbines, each requiring a dedicated tower for structural support.

The increasing number of wind farms is directly correlated with a rising demand for wind turbine towers. This demand has stimulated innovation and competition within the market, fostering advancements in tower design and construction materials. Taller towers are now being developed to tap into higher altitude winds, enhancing the overall efficiency and power output of wind turbines.

Additionally, government initiatives, incentives, and global commitments to reduce carbon emissions have further propelled the growth of wind energy projects, thereby amplifying the demand for wind turbine towers. This trend not only signifies a shift towards sustainable energy but also underscores the economic viability of wind power, making the wind turbine tower market a pivotal player in the renewable energy landscape.

Wind Turbine Tower Market: Market Restraints and Challenges

The overdependence on Chinese wind turbine tower manufacturers has become a significant hindrance to the growth of the global wind turbine tower market. China has emerged as a dominant player in the manufacturing of wind energy components, including towers, due to its large-scale production capabilities and cost competitiveness. However, this concentration of production in one region poses several challenges.

Firstly, geopolitical tensions and trade uncertainties can disrupt the supply chain, leading to delays and supply shortages for wind projects globally. The reliance on a single manufacturing base also raises concerns about the resilience and stability of the supply chain, especially during times of economic or political turbulence.

Moreover, the overdependence on Chinese manufacturers limits diversity in the market, potentially stifling innovation and creating vulnerabilities in the face of unforeseen events. Diversifying the manufacturing base across multiple regions could enhance the industry’s resilience and promote healthy competition, encouraging advancements in technology and driving down costs.

Efforts to encourage the development of wind turbine tower manufacturing capabilities in other regions can help mitigate these risks, ensuring a more robust and sustainable global wind energy infrastructure.

Wind Turbine Tower Market Report Findings

https://www.globalinsightservices.com/reports/wind-turbine-tower-market/

The Tubular Steel Towers segment is likely to hold the major share of the market in 2022

On the basis of Tower Type, the Wind Turbine Tower Market is segmented into Tubular Steel Towers, Lattice Towers, and Hybrid Towers. The Tubular Steel Towers segment is expected to have the largest Wind Turbine Tower market share in 2022. The tubular steel towers segment is experiencing notable growth in the wind turbine tower market. Tubular steel towers are a popular choice for supporting wind turbines due to their structural efficiency, strength, and versatility. These towers are cylindrical in shape and can be easily transported and assembled, making them cost-effective and suitable for various wind farm locations. One key factor driving the growth of tubular steel towers is their adaptability to a wide range of wind turbine sizes, including both onshore and offshore installations. Advances in engineering and manufacturing techniques have allowed for the production of taller and more robust tubular steel towers, enabling access to higher wind speeds at elevated heights. This, in turn, enhances the overall energy output and efficiency of wind turbines. Furthermore, the demand for tubular steel towers is propelled by their durability and resistance to environmental factors. These towers are designed to withstand challenging weather conditions, contributing to the longevity and reliability of wind energy systems. As the wind energy sector continues to expand globally, the tubular steel towers segment is likely to maintain its growth trajectory, playing a pivotal role in supporting the development of sustainable and efficient wind power infrastructure.

The Onshore segment is likely to hold the major share of the market in 2022

Based on Deployment Type, the Wind Turbine Tower Market is classified into Onshore and Offshore. The Onshore segment is expected to have the largest Wind Turbine Tower market share in 2022. The onshore segment is experiencing significant growth in the wind turbine tower market. Onshore wind farms, where turbines are installed on land, continue to be a dominant and expanding source of renewable energy. Several factors contribute to the growth of onshore deployment in this market. Firstly, onshore wind projects generally have a lower initial investment compared to offshore alternatives, making them more economically attractive for many regions. This cost-effectiveness has led to increased adoption and investment in onshore wind farms. Secondly, technological advancements in onshore wind turbine design and manufacturing have improved efficiency and energy output. Innovations in taller tower designs allow turbines to access higher wind speeds, further enhancing the performance of onshore wind farms. Additionally, the availability of vast onshore areas with suitable wind conditions contributes to the growth of this segment. Many countries can harness wind energy resources from their existing landscapes, promoting the development of onshore wind projects as a viable and sustainable option for clean energy generation.

The Asia Pacific region is likely to hold the major share of the market in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is expected to have the largest Wind Turbine Tower market share in 2022. The Asia Pacific region is witnessing substantial growth in the wind turbine tower market, fueled by various factors contributing to the expansion of the renewable energy sector. Firstly, the region’s increasing energy demands, driven by rapid industrialization and urbanization, have led countries in Asia Pacific to explore sustainable and reliable energy sources. Wind power, facilitated by the growth in the wind turbine tower market, plays a significant role in meeting these demands. Further, many countries in the Asia Pacific region have implemented supportive policies and incentives to promote renewable energy, including wind power. Government initiatives encourage the development of wind farms, fostering a conducive environment for the growth of the wind turbine tower market. Moreover, ongoing advancements in wind turbine technology, including taller towers and more efficient designs, have made wind energy more competitive and attractive. This technological progress contributes to the increasing deployment of wind turbines in the Asia Pacific region. In addition, the region benefits from the cost competitiveness of wind energy, making it a viable option for addressing power needs. As the wind turbine tower market expands, economies of scale and increased competition among manufacturers contribute to further cost reductions. Furthermore, many countries in the Asia Pacific have set ambitious renewable energy targets to reduce carbon emissions and combat climate change. Wind power, supported by a growing market for wind turbine towers, becomes instrumental in achieving these targets. Hence, the Asia Pacific region’s growth in the wind turbine tower market reflects a broader commitment to sustainable energy and the recognition of wind power as a crucial component in the region’s energy mix.

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Competitive Landscape

The key players studied in the Wind Turbine Tower market are Anyang Machinery Co., Ltd (part of China National Building Material Group) (China), Arcosa Wind Towers, Inc. (US), CS WIND CORPORATION (South Korea), Cubuilt Engineers Pvt Ltd. (India), GRI Renewable Industries (Spain), Keystone Tower Systems (US), KGW Schweriner Maschinen- und Anlagenbau GmbH (Germany), Marmen inc. (Canada), Modvion (Sweden), and United Energy Qazaqstan LLP (Republic of Kazakhstan).

Wind Turbine Tower Market: Recent Developments

  • August 2023, For its Wind of Change initiative, the Swedish wood technology company Modvion is constructing the highest wooden wind turbine tower in the world. The tower will stand 105 meters tall, and the entire construction will be 150 meters tall when the turbine blades are added. Laminated veneer timber is the type of wood used to construct the wooden modules that comprise the tower. In order to ensure that the towers are waterproof, they are painted thickly with waterproof sealant. This creates a regulated air volume inside the solid-wood tower, which aids in stabilization and the battle against humidity.
  • April 2023, The GreenerTower, a wind turbine tower composed of more sustainably produced steel, was unveiled by Siemens Gamesa. About 80% of a tower’s material is made of steel plates. When compared to traditional steel, the tower steel plates made of the new GreenerTower will guarantee a minimum 63% decrease in CO2. With the same steel characteristics and quality, Siemens Gamesa’s new rigorous qualifying method will confirm that emissions of CO2 equivalents can only be released in excess of 0.7 tons per ton of steel.
  • June 2021, A deal was reached for the sale of Vestas Wind Systems AS, a Danish wind turbine manufacturer, to CS Wind Corp., a South Korean tower builder, at its Pueblo, Colorado, tower facility.

Wind Turbine Tower Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Wind Turbine Tower Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Wind Turbine Tower Market in terms of revenue ($Million).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Wind Turbine Tower industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Wind Turbine Tower Market along with the current trends and future estimations to depict imminent investment pockets. The overall Wind Turbine Tower industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Wind Turbine Tower Market are also analyzed.

Wind Turbine Tower Market Segmentation

By Tower Type

  • Tubular Steel Towers
  • Lattice Towers
  • Hybrid Towers

By Deployment Type

  • Onshore
  • Offshore

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players

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Solar Collector Tube Market
November, 2023

New York, November 2023: According to a new research study by Global Insight Services (GIS), the Solar Collector Tube Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 9.1 billion by 2032.

Solar collector tubes are vacuum tubes that capture and store solar heat. They are used in solar thermal collectors to convert solar energy into heat energy that may be utilized for water heating, space heating, process heat, solar cooling, and power generation. Because of the greater insulation provided by the evacuated tube design, the tubes may attain high temperatures even in cold conditions. Solar collector tubes provide several advantages, including high efficiency, reduced heat loss, and the ability to perform under diffuse light circumstances.

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Global Solar Collector Tube Market: Market Drivers and Trends

Government policies and incentives encouraging renewable energy: Governments throughout the world are enacting policies, rules, and incentives to encourage the use of renewable energy sources such as solar thermal technology. Renewable heat subsidies, zero/low-interest financing, tax breaks, and renewable energy objectives all encourage the installation of collector tube-based solar water heating and space heating systems. The EU Renewable Energy Directive, for example, has a binding objective of 20% final energy consumption from renewable sources by 2020. Solar water heaters are eligible for a 30% federal tax credit in the United States. Such policies are intended to stimulate the solar collector sector.

Furthermore, Technological improvements that result in greater efficiency and cheaper costs: Continuous developments in materials, coatings, heat transfer mechanisms, and manufacturing methods improve solar collector tube efficiency while lowering prices. The development of selective surface coatings with strong solar absorptivity and low thermal emissivity, for example, has increased collector efficiency. Manufacturers are concentrating on optimizing the vacuum in evacuated tubes to reduce convection and conduction heat losses. These technological advancements are driving market expansion by boosting the cost-competitiveness and performance of solar collector tubes.

Global Solar Collector Tube Market: Market Restraints and Challenges

Expensive upfront system and installation costs: Despite advances, the upfront system and installation costs of solar collector tube systems remain expensive, discouraging many potential consumers. Tubes, headers, heat exchangers, and storage all contribute to the expense. Complex designs significantly increase the cost of installation. The market requires increased efforts to build easier plug-and-play systems and lower production/logistics costs through technological advancements and economies of scale.

Infrastructure issues in underdeveloped nations: In many developing countries, solar collector adoption is hampered by a lack of infrastructure. The lack of specialists for O&M services, a lack of specialized enterprises providing collector system design/installation, and insufficient spare parts distribution channels all impede market expansion. Improving the solar infrastructure ecosystem in terms of trained workers, approved system integrators, and supply chains can help emerging nations embrace collector tube systems.

Global Solar Collector Tube Market Report Findings

https://www.globalinsightservices.com/reports/solar-collector-tube-market/

The u-shaped segment is likely to hold the major share of the market in 2022

Based on type, the Solar Collector Tube Market is segmented into U-shaped, heat pipe, evacuated tubes, flat plate, air collectors, and others. The u-shaped segment is expected to dominate the market during the forecast period.

The residential segment is likely to hold the major share of the market in 2022

By end user, the market is classified into residential, commercial, industrial, and others. The residential segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period.

The system type segment is likely to hold the major share of the market in 2022

Based on system type, the Solar Collector Tube Market is segmented into thermosiphon, pumped, passive, tracking, ICS, and evacuated tube collectors. In 2022, the thermosiphon segment dominated the market in terms of revenue and is expected to be the same during the upcoming years.

The North America region is accounted for the majority of market share in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Solar Collector Tube Market value followed by Europe. The market in North America is expanding because of favorable government regulations, increased usage of solar thermal technology, and increased investments in renewable energy. The European market for Solar Collector Tubes is predicted to be the second largest. The European market is expanding due to strong pollution control rules and ambitions to increase the use of renewable energy. During the projected period, the Asia Pacific market is likely to be the fastest-growing market for the Solar Collector Tube Market. Rapid urbanization, expanding infrastructural development, and falling solar collector tube costs are driving market expansion in the Asia Pacific.

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Competitive Landscape

The key players studied in the global Solar Collector Tube Market are Schott AG, Yulong Dingtajian New Energy, Apex Solar, Sinosun Energy Technology, Neo Solar Power Corporation, Solimpeks Solar Energy, Sunrain, Hubei Fullhonor Solar Energy Technology, Solar Wind Technologies, and Sunmaxx among others.

Global Solar Collector Tube Market: Recent Developments

  • In October 2022, Kingspan Group has purchased a controlling position in Solmogeneracion, a Spanish solar thermal firm that specializes in big industrial process heat systems. The acquisition broadens Kingspan’s solar thermal capabilities.
  • In September 2022, Apricus Solar Co. introduced Etros, a revolutionary evacuated tube solar collector with enhanced coatings for increased efficiency. The new collector is intended for use in household and commercial heating systems.
  • In January 2021, Linuo Paradigma introduced The RTT solar tube, a high-efficiency all-glass evacuated tube solar collector developed for hot water and heating applications. The enhanced heat transmission and decreased thermal losses of the new model.
  • In December 2020, Viessmann Group purchased a share in Arcon-Sunmark, a major Danish manufacturer of solar thermal collectors. The collaboration intends to boost Viessmann’s solar heating business and product development.
  • In November 2020, Solimpeks debuted their Solytech solar tube collector for generating heat in industrial processes. The system is suitable for food processing, chemical production, and other manufacturing applications and can attain temperatures of up to 400°C.

Global Solar Collector Tube Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Solar Collector Tube Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Solar Collector Tube Market potential from 2022 to 2032 in terms of revenue ($ Million), and Volume (Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Solar Collector Tube Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Solar Collector Tube Market industry.

Global Solar Collector Tube Market Segmentation

By Type

  • U-shaped
  • Heat Pipe
  • Evacuated Tubes
  • Flat Plate
  • Air Collectors
  • Others

By End User

  • Residential
  • Commercial
  • Industrial
  • Others

By System Type

  • Thermosiphon
  • Pumped
  • Passive
  • Tracking
  • ICS
  • Evacuated Tube Collectors

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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Small Internal Combustion Engine (ICE) Market
October, 2023

New York, October 2023: According to a new research study by Global Insight Services (GIS), the Small Internal Combustion Engine (ICE) Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 6.1 billion by 2032.

Internal combustion engines are a sort of power-generating source for various cars in which petroleum or natural gas is burned to create heat, which results in the creation of power, which is then utilized for the mobility of the automobiles in which they are placed. This construction contains a chamber where the combustion process takes place with the help of an oxidizer.

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Global Small Internal Combustion Engine (ICE) Market: Market Drivers and Trends

The increase in demand for diesel engines will propel the growth of the market expansion. The increased preference for diesel engines over petrol engines due to their greater fuel efficiency, durability, and dependability, along with an advantageous fuel tax position, has further influenced the market. Furthermore, the rise of the automobile sector, higher investment, and increasing disposable income all benefit the internal combustion engine (ICE) market.

Additionally, one of the key factors driving the expansion of the internal combustion engine (ICE) industry is the increase in government measures to reduce emissions. Increased expenditure by manufacturers to satisfy regulatory criteria benefits the market. These drivers may expect to fuel the growth of the market.

Global Small Internal Combustion Engine (ICE) Market: Market Restraints and Challenges

The presence of strong regulatory intervention in the market for ICE due to environmental effects assaults, as well as the rising adoption rate of EVs (electric vehicles), are projected to impede industry growth. Furthermore, a rising scarcity of fossil fuel reserves, resulting in increased petroleum product prices, is expected to pose a threat to the internal combustion engine (ICE) industry throughout the projection period.

Global Small Internal Combustion Engine (ICE) Market Report Findings

https://www.globalinsightservices.com/reports/small-internal-combustion-engine-ice-market-2/

The gasoline segment is likely to hold the major share of the market in 2022

Based on fuel type, it is segmented into gasoline, diesel, and gas. The gasoline segment had the highest revenue share in 2022 and is expected to continue to dominate the market over the period. The gasoline fuel-based IC engines create power by using a spark ignition mechanism to burn a volatile liquid fuel. It is further subdivided into fuel management, ignition, and application categories. In the automobile business, gasoline IC engines are used in cars, trucks, and other vehicles. Furthermore, it has been widely used in the aircraft, power equipment, and industrial machinery industries.

The 1 segment is likely to hold the major share of the market in 2022

Based on cylinders, it is bifurcated into 1, 2, 3, and 4. The 4 segment has dominated the market in 2022 and expected to expand the fastest due to Small 1-cylinder IC engines have a basic structure and a compact dimension, and they provide improved operational performance. They ensure quick and cost-effective procedures with redundant and dependable outcomes. Furthermore, 1-cylinder IC engines need a simple cooling mechanism, such as air-cooling, which minimizes engine weight. These engines provide the most power while being economically constructed. The 1-cylinder tiny IC engines are used in original equipment manufacture (OEM), the oil and gasoline sector, transportation, and other industries. Unchecked consumption of fossil fuels and rising fuel price uncertainty have resulted in the development of single-cylinder engine systems to decrease carbon emissions, which eventually drives the tiny ICE Market.

The transportation segment is likely to hold the major share of the market in 2022

Based on end-use, it is segmented into power generation, manufacturing, oil and gas, transportation, and others. The transportation segment is expected to be the largest segment in the Small Internal Combustion Engine (ICE) Market in 2022.

The North America region is accounted for the majority of market share in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. In 2022, the North America region Small Internal Combustion Engine (ICE) Market had the highest revenue share, The United States is the most developed country in North America. Because the United States is a technology early adopter, the adoption rate of lawn and gardening machines, gensets, industrial machinery, diesel pumps, and other power equipment is greater in the United States than in other North American nations. This reason motivates tiny internal combustion engine manufacturers to focus more on producing small IC engines for a variety of applications. Market participants are also increasing their footprint in the region in order to serve the greatest number of clients and strengthen their worldwide presence. For example, DEUTZ Corporation teamed with Kukje Machinery in December 2019 to enhance their reach in North America for engines with power output ranges less than 19 kW.

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Competitive Landscape

The key players studied in the global Small Internal Combustion Engine (ICE) Market are AGCO Corporation, Ashok Leyland , Hino Motors, Ltd., Bosch Limited, Caterpillar, Cummins Inc. , Ford Motor Company , Kirloskar Oil Engines Ltd. , General Motors , and Mahindra & Mahindra Ltd. among others.Global Small Internal Combustion Engine (ICE) Market: Recent Developments

  • In 2021, Ford Motor Company has committed to a spending plan of $11 billion in hybrid engine research through 2022.
  • In 2019, DEUTZ Corporation collaborated with Kukje Machinery to enhance their presence in North America for engines with power outputs less than 19 kW.
  • In 2019, Yanmar Holdings Co., Ltd has announced the development of the 3TNV80FT Industrial Engine, which will be powered by the 2G Eco Governor turbocharging technology.

Global Small Internal Combustion Engine (ICE) Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Small Internal Combustion Engine (ICE) Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Small Internal Combustion Engine (ICE) Market potential from 2022 to 2032 in terms of revenue($ Million), and Volume(Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Small Internal Combustion Engine (ICE) Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Security Robots industry.

Global Small Internal Combustion Engine (ICE) Market Segmentation

By Fuel Type

  • Gasoline
  • Diesel
  • Gas

By Cylinders

  • 1
  • 2
  • 3
  • 4

By End-Use

  • Power Generation
  • Manufacturing
  • Oil and Gas
  • Transportation
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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Lithium-ion Battery Energy Storage Market
October, 2023

New York, October 2023: According to a new research study by Global Insight Services (GIS), the Lithium-ion Battery Energy Storage Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 18.4 billion by 2032.

An electrochemical device that charges or absorbs energy from the grid or a power plant and then releases that energy to deliver electricity or other grid services when needed. Battery storage is a critical technology that may improve power system flexibility while also allowing for significant levels of renewable energy integration. Modern lithium-ion battery energy storage systems typically contain an inverter and computerized control systems, making them simple to install, generally maintenance-free, and requiring little human effort or knowledge. End customers of battery energy storage devices include both business and residential entities. Peak shaving, load shifting, emergency backup, and different grid services are examples of commercial end users. Self-consumption, off-grid houses, and emergency backup are examples of residential end-users.

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Global Lithium-ion Battery Energy Storage Market: Market Drivers and Trends

One of the key factors driving the growth of the worldwide Lithium-ion Battery Energy Storage Market is the wind farms continue to enhance the environmental effect and safety of energy storage systems by increasing their quality, quantity, and dependability. Because of increasing demand for renewable energy and carbon reduction, battery storage systems are becoming more popular. Batteries have the potential to greatly increase power users’ desire for clean energy by balancing the irregular nature of renewable energy sources.

Global Lithium-ion Battery Energy Storage Market: Market Restraints and Challenges

Overheating, excessive voltage sensitivity, and potential fire dangers are all issues with lithium-ion batteries. These problems might be difficult to manage since they need adequate safety devices to regulate internal pressures and voltage. As a result, safety precautions frequently add to the weight and reduce the effectiveness of lithium-ion batteries. When these batteries are damaged, they still carry energy that must be dissipated before touching or interacting with impacted cells. Furthermore, the substantial initial investment necessary to construct lithium-ion battery energy storage systems may stifle industry expansion.

Global Lithium-ion Battery Energy Storage Market Report Findings

https://www.globalinsightservices.com/reports/lithium-ion-battery-energy-storage-market/

The industrial segment is likely to hold the major share of the market in 2022

Based on application, the Lithium-ion Battery Energy Storage Market is segmented into commercial, industrial, and residential. The industrial segment is expected to dominate the market during the forecast period. Furthermore, the growing trend towards a low-carbon, less-fossil-fuel-based economy, as well as the ongoing renewable energy revolution, are predicted to fuel the expansion of the lithium-ion battery energy storage system business. On the contrary, factors such as the rapid increase in the number of rural electrification projects worldwide, the increased need for continuous power supply, particularly for the growing number of data centers, and the decline in lithium-ion battery prices are expected to create massive opportunities for the widespread use of lithium-ion battery energy storage systems in the near future.

The on-grid segment is likely to hold the major share of the market in 2022

By connection type, the market is classified into on grid, and off grid. The on-grid segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period. The lithium-ion battery energy storage system market is predicted to develop significantly during the forecast period, owing to increased demand for grid energy storage systems for ongoing grid modernization and fast penetration of lithium-ion batteries in the renewable energy sector.

The Asia-Pacific region is accounted for the majority of market share in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific has the biggest market share in terms of Lithium-ion Battery Energy Storage Market value followed by Europe. This is Due to new product advancements and considerable increases in investment by key companies and government institutions, China is likely to emerge as a prominent market for the lithium-ion battery energy storage system sector. The Asia-Pacific region’s well-established electronics sector and the adoption of innovative technologies have provided the region’s organizations with a competitive advantage in the market.

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Competitive Landscape

The key players studied in the global Lithium-ion Battery Energy Storage Market are ABB Ltd. , Toshiba Corporation, LG Electronics Inc. , Siemens AG , Panasonic Corporation, Hitachi Ltd., Parker Hannifin Corporation, Samsung Electronics Co Ltd, Honeywell International Inc. , and Jakson Group among others.

Global Lithium-ion Battery Energy Storage Market: Recent Developments

  • In 2023, The US Defence Advanced Research Projects Agency’s (DARPA) Materials with Novel Transport Properties (MINT) program awarded GE Research two projects. The programs intend to investigate the feasibility of creating perpetually lasting metal materials and batteries. The discovery might lead to self-healing metals that are corrosion-resistant and nondegradable. The research is being funded by DARPA in order to fulfill its aim of prolonging the life of essential infrastructure and systems. GE Research’s participation in the program is part of the company’s continuous efforts to create new technologies and materials with major significance for a variety of sectors.
  • In February 2022, to extend its Energy Storage System (ESS) business offerings, LG Energy Solution purchased NEC Energy Solutions, a grid battery integrator located in the United States. The battery maker has entirely bought NEC Energy Solutions from its parent company, NEC Corporation, based in Japan. With the agreement, LGES will form a new firm called LG Energy Solution Vertech. Inc. .
  • In January 2022, CATL has engaged in a strategic partnership with TES Sustainable Battery Solutions, a developer of energy storage solutions. The firms’ Overseas Strategic Agreement (OSA) will allow TES to provide its services to CATL energy storage system consumers throughout Asia Pacific, the Middle East Africa, and Europe. The partnership between the companies will spread the after-sales services of both companies due to enhanced services, which will increase the organizations’ client base in the next years.
  • In November 2021, Hitachi Energy introduced upgraded and enhanced versions of its power store battery energy storage system (BESS) products, as well as other new and updated grid edge solutions products and services.
  • In October 2021, to fulfill the demand for sustainable energy storage, Honeywell introduced a novel flow battery technology that works with renewable power sources such as wind and solar. The novel flow battery employs a non-flammable electrolyte that transfers chemical energy to electricity to store energy for later use while achieving utilities’ environmental, lifespan, and safety goals.
  • In January 2021, Toshiba Corporation introduced the G9400 Series of uninterruptible power supplies for big data centers throughout the world. The product is equipped with superior insulated-gate bipolar transistor (IGBT) technology and comes in a variety of variants. This product introduction will assist the organization in expanding its consumer base.

Global Lithium-ion Battery Energy Storage Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Lithium-ion Battery Energy Storage Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Lithium-ion Battery Energy Storage Market potential from 2022 to 2032 in terms of revenue ($ Million), and Volume (Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Lithium-ion Battery Energy Storage Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Lithium-ion Battery Energy Storage Market industry.

Global Lithium-ion Battery Energy Storage Market Segmentation

By Application

  • Industrial
  • Residential
  • Commercial

By Connection Type

  • On-Grid
  • Off-Grid

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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0.5-1.5 MW Generator Market
October, 2023

New York, October 2023: According to a new research study by Global Insight Services (GIS), the 0.5-1.5 MW Generator Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 13.7 billion by 2032.

The 0.5-1.5 MW Generator Market encompasses the market segment that includes generators with power generating capacities ranging from 0.5 to 1.5 megawatts (MW). Generators in this category are classified as medium-sized power generation equipment and are employed in a variety of sectors. The 0.5-1.5 MW Generator Market includes a wide range of generators, such as diesel generators, natural gas generators, and other power production technologies. These generators can be fixed or transportable, depending on the needs of the application.

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Global 0.5-1.5 MW Generator Market: Market Drivers and Trends

Even the most basic generators now include a control panel that allows the user to monitor the generator’s health while running. Furthermore, intelligent elements are added to the control panel to offer information about the output, remaining fuel, and other aspects. Some smart generators also assist in monitoring performance and status via a mobile phone app. In addition, some generators provide phone notifications when anything needs to be checked. This allows operators to monitor the health of their generators even when they are not there. In addition, 0.5-1.5 MW generators are increasingly adopting technology like as IoT to make them smarter. For example, in March 2021, Trinetra announced a collaboration with Diesel Generator Manufacturer to digitally increase generator activities using IIoT. The generator’s centralized solution is supplemented by GPS, which can help manage or track remote assets 24 hours a day, seven days a week. In addition, an IIoT solution was deployed by the organization in order to streamline its process and decrease manual involvement. As a result of the increasing use of new technologies to improve the efficiency of generator operation and maintenance, the production of smart generators will expand, bolstering the expansion of the 0.5-1.5 MW Generator Market during the forecast period. These drivers are likely to propel market expansion.

Global 0.5-1.5 MW Generator Market: Market Restraints and Challenges

Government regulations and diesel generators are the primary challenges to the market growth. As Diesel generators are utilized for a variety of purposes, however, they generate hazardous compounds such as nitrogen oxides, carbon monoxide, and particulate matter. Also, grid-connected micro grids have not scaled up due to an absence of scalable prototypes and performance indicators. Hence these aforementioned factors are likely to hinder the growth.

Global 0.5-1.5 MW Generator Market Report Findings

https://www.globalinsightservices.com/reports/0-5-1-5-mw-generator-market/

The diesel segment is likely to hold the major share of the market in 2022

Based on fuel type, the 0.5-1.5 MW Generator Market is segmented into diesel, natural gas, hydrogen, and dual. The diesel segment is expected to dominate the market during the forecast period.

The oil & gas segment is likely to hold the major share of the market in 2022

By industry, the market is classified into oil & gas, IT & telecom, power & utility, and others. The oil & gas segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period. The majority of oil and gas exploration activity is done in distant regions with harsh circumstances. Because these locations are remote from power networks, there is a considerable need for 0.5-1.5 MW generators. As a result, the rising need for 0.5-1.5 MW generators in the oil and gas sector to offer electricity at any location and at any time is supporting the growth of the 0.5-1.5 MW Generator Market.

The Asia-Pacific region is accounted for the majority of market share in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific has the biggest market share in terms of 0.5-1.5 MW Generator Market value followed by Europe. The 0.5-1.5 MW Generator in India’s market is expanding rapidly as a result of increasing urbanization, economic expansion, and a burgeoning manufacturing industry. Pre-pandemic, the Indian manufacturing industry produced 16-17% of India’s GDP and is expected to be one of the most rapidly expanding sectors. With the implementation of numerous regulations, India is increasingly emphasizing domestic production and consumption in the manufacturing business. The Government of India’s National Manufacturing Policy intends to grow manufacturing’s proportion of GDP to 25% by 2025. The Government of India’s “Make in India” strategy aims to stimulate demand for and consumption of machinery and equipment by the domestic manufacturing industry. Power interruptions in manufacturing operations reduce productivity.

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Competitive Landscape

The key players studied in the global 0.5-1.5 MW Generator Market are Caterpillar Inc., Cummins Inc., Rolls-Royce plc , INNIO Jenbacher GmbH & Co OG , Mitsubishi Heavy Industries Ltd., Generac Power Systems Inc., Yanmar, Atlas Copco AB, ABB Ltd , and Siemens AG others.

Global 0.5-1.5 MW Generator Market: Recent Developments

  • In December 2022 Caterpillar Inc. established a partnership with Luck Stone, the country’s biggest family-owned and operated manufacturer of crushed stone, sand, and gravel, to install Caterpillar’s autonomous solution at Luck Stone’s Bull Run Plant in Chantilly, Virginia.
  • In January 2022, Caterpillar Inc. announced the effective demonstration of its first battery-electric 793 big mining vehicle, as well as a substantial investment to turn its Arizona-based proving ground into a future-proof testing and validation center.

Global 0.5-1.5 MW Generator Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global 0.5-1.5 MW Generator Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global 0.5-1.5 MW Generator Market potential from 2022 to 2032 in terms of revenue ($ Million), and Volume (Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global 0.5-1.5 MW Generator Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global 0.5-1.5 MW Generator Market industry.

Global 0.5-1.5 MW Generator Market Segmentation

By Fuel Type

  • Diesel
  • Natural Gas
  • Hydrogen
  • Dual

By Industry

  • Oil & Gas
  • IT & Telecom
  • Power & Utility
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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Solid Fuel Market
October, 2023

New York, October 2023: According to a new research study by Global Insight Services (GIS), the Solid Fuel Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 481.3 billion by 2032.

Solid fuels are employed as an energy source in a variety of sectors, including iron and steel. Petcoke, anthracite, metallurgical coke, coal, and flexicoke are a few examples of solid fuels. Coal is the most abundant energy source. It is used to generate energy and for various industrial uses like metal refining. Another coal-based fuel with a high carbon content and minimal impurities is coke. It is produced by destructive distillation of low-ash, low-sulfur bituminous coal. Coal-based colas are greyish, hard, and porous. Petcoke is a form of coke produced by oil refineries or other cracking operations. It comes in two varieties that may be utilized for various reasons. Green pet coke is used as fuel, whereas calcined pet coke is utilised as a raw material in coatings, paints, and coloring goods. Metallurgical coal, also known as met coke, is a kind of coal that is commonly used to manufacture high-quality coke. It is used to reduce iron ore and other materials containing iron. It is commonly utilized in steel production operations. Anthracite, a metamorphosed coal, has a high carbon content and produces smokeless flames when burned. It is regarded as environmentally beneficial coal.

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Global Solid Fuel Market: Market Drivers and Trends

The solid fuel industry is being driven by the increased usage of coal as a result of the building of refineries. Current refineries, as well as mixtures of refinery byproducts and coal, are used to create a variety of end products such as petrol, carbon anodes, jet fuel, and heating oil. With the rising number of refineries, the need for coal as an energy source has grown. The United States, China, Russia, and India possess the most oil refinery capacity. The Asia Pacific region has the most functioning petroleum refineries. In the region, there were around 316 functioning petroleum refineries. China National Petroleum Corp, China Petrochemical Corp, Saudi Arabian Oil Co, Valero Energy Corp, and Exxon Mobil Corp were the top five oil refining businesses in the world in terms of capacity. The presence of several refineries stimulates demand for solid fuels, hence increasing the size of the solid fuel industry.

Furthermore, rising demand for solid fuel in the power generating and transportation fuel industries is driving the market growth. Electricity is utilized for a variety of home, commercial, and industrial applications. Electricity use has risen over time. According to statistics from the United States Energy Information Administration that were released in May 2022, overall power consumption in the United States in 2021 was 3.93 trillion kWh, which was 13 times larger than electricity usage in 1950. As a result, the growing usage of electricity is supporting the rise of the solid fuel industry. These drivers are likely to propel market expansion.

Global Solid Fuel Market: Market Restraints and Challenges

Coal is one of the most significant sources of CO2 emissions. According to an International Energy Agency (IEA) study released in November 2022, the IEA’s Net Zero Emissions by 2050 goal is to limit the use of coal and seek out innovative technologies. Furthermore, the region is embracing hydroelectric electricity generation since it is a clean source of energy and is widely utilized for power system flexibility and resilience. According to data from the US Department of Energy, hydropower capacity expanded by a net of 431 MW in prior years. Capacity was added through existing facilities, new facilities, and powering non-powered dams (NPDs), resulting in a net gain of 1,688 MW in recent years. As a result, the widespread use of hydropower will limit the expansion of the solid fuel industry in the next years.

Global Solid Fuel Market Report Findings

https://www.globalinsightservices.com/reports/solid-fuel-market/

The metallurigical segment is likely to hold the major share of the market in 2022

Based on fuel type, the Solid Fuel Market is segmented into petcoke/flexicoke, anthracite, metallurgical coke, and coal. The metallurigical segment is expected to dominate the market during the forecast period. Metallurgical coke is often referred as coking coal or metallurgical coke is solely utilized in the production of steel. The coal is “baked” in a coke oven, which extracts impurities to produce coke. Metallurgical coke is a fissured, porous, silver-black solid that is also an important element of the ironmaking process after steel because it provides the carbon and heat required to chemically decrease the iron load in the blast furnace for the production of hot metal. Metallurgical coal is mostly imported from Australia, the United States, and Canada, with Australia shipping more than 55% of seaborne commerce, the majority of which is destined for China.

The Asia-Pacific region is accounted for the majority of market share in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Europe has the biggest market share in terms of Solid Fuel Market value followed by Asia-Pacific. The steel industry in Europe is robust. Steel production in Europe is expanding to satisfy increased demand from the automobile, construction, electronics, and other end-use sectors. According to figures from the European Steel Association AISBL (EUROFER), Europe produces around 153 million tonnes of finished steel each year on average. Across 22 European Union (EU) member states, the area boasts 500 steel-producing locations. Thus, Europe’s robust steel sector contributes to the region’s need for pet coke. According to Coalmint, India and Europe agreed in April 2022 to transport 50,000 MT of metallurgical coke from India to the European steel sector. Europe has made consistent attempts to strengthen its steel sector, which has increased demand for pet coke and metallurgical coke throughout the area.

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Competitive Landscape

The key players studied in the global Solid Fuel Market are Indian Oil Corp Ltd , Elinoil Hellenic Petroleum Company SA, RESORBENT Sro , JH Carbon Pty Ltd , Hargreaves (UK) Services Ltd, Essar Global Fund Ltd, BP Plc, Lukoil Oil Co, Valero Energy Corp , and Philips 66 others.

Global Solid Fuel Market: Recent Developments

  • In 2023, At its Castell refinery, BP Plc created the Valencia region’s green hydrogen cluster (HyVal). This public-private collaboration program, led by BP Plc, is expected to be based on the gradual construction of up to 2GW of electrolysis capacity for creating green hydrogen at BP Plc’s refinery by 2030.
  • In 2022, BP Plc paid $26 per Archaea Class A and Class B share in cash for Archaea Energy Inc., a renewable natural gas (RNG) firm, for a total enterprise value of roughly $4.1 billion, including approximately $800 million in net debt.
  • In 2022, With major expenditures, Elin is altering the company’s energy profile, allowing it to play an active role in the new energy market. With the “electricon” and “aerion” trademarks, Elin entered the electricity and natural gas markets. And converted the fuel station network into an integrated energy station by purchasing compressed and liquefied natural gas.
  • In 2022, The Indian government presented the Plenary Session at the 7th Petrochemical Conclave in New Delhi, which seeks to improve the sustainability and Aatmanirbharta of the Indian Petrochemical Industry. Aatma Nirbhar Bharat is a vision that includes economic development goals to make the country self-sufficient.

Global Solid Fuel Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Solid Fuel Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Solid Fuel Market potential from 2022 to 2032 in terms of revenue ($ Million), and Volume (Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Solid Fuel Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Solid Fuel Market industry.

Global Solid Fuel Market Segmentation

By Component

  • Petcoke/Flexicoke
  • Anthracite
  • Metallurgical Coke
  • Coal

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Key Players

 

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