Tuesday, October 8, 2024

Relay Market Size by Application: Automotive, Industrial, and Beyond

 The global relay market size is estimated to be USD 9.0 billion in 2022 and is projected to reach USD 14.7 billion by 2030, at a CAGR of 6.3% during the forecast period. The relay market is driven by the rising investments in renewable energy resources. According to the International Energy Agency (IEA) forecast, the total global renewable capacity is expected to increase by 1,220 GW between 2019 and 2024, with solar accounting for about 60% of the total additions. IEA also projects that an additional 314 GW could potentially be added under the accelerated scenario during the same period. IEA defines an accelerated case as a scenario wherein governments address three main challenges preventing faster deployment: policy and regulatory uncertainty, high investment risks in developing countries, and system integration of wind and solar in some countries. These increased capacity additions require proper grid infrastructure equipped with protective relays to evacuate power reliably to the distribution utilities.

Increasing power demand and investments in smart grid infrastructure are likely to bring opportunities for relay distributors. All major utilities around the world have announced investments in smart grid infrastructure. These investments aim to improve grid monitoring and control through extensive data collection, peer to peer communication between intelligent electronic devices, and remote operation of grid elements. Numerical relays possess the ability to collect voltage, current, and other real time grid parameters. They can also store, analyze, and act according to the pre-set trip settings. Due to these features and relatively low-cost, numerical relays are installed as part of grid automation and digitization projects. These increased investments in smart grid infrastructure present immense growth opportunity to the global relay market.

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In 2021, the Asia Pacific dominated the global relay market, followed by Europe and North America.

The APAC region, by country, has been segmented into China, India, Japan, and the Rest of APAC. Japan is increasingly focusing on increasing the share of renewables in power generation. According to the Government of Japan, the country aims to double its solar and wind generation capacity to between 127.1 gigawatts and 141.2 gigawatts by fiscal 2030. Apart from this, Japan’s market for medical devices is amongst the world’s largest. Data from Japan’s Ministry of Health, Labor and Welfare (MHLW) show that the Japanese market for medical devices in 2020 was about USD 38 billion. This presents ample opportunities for the growth of the relay market in the country and in the region, as a whole.

Reed type of relay is expected to be the fastest growing segment of the relay market, growing at a CAGR of 16.0%. The major factors driving the market's growth are the increasing demand for reed relays in security systems, telecom equipment, process control systems, automatic test equipment, and electronic instrumentation. In addition, the rising adoption of reed relays in security systems and telecom equipment is another factor fueling the market growth. Moreover, the growing trend of miniaturization and automation is also contributing to market growth.

The low voltage segment is projected to be the largest segment of the relay market. The increasing focus on residential and commercial activities will drive the long-term growth of this segment all over the world, particularly in Asia Pacific. The demand for modern intelligent controllers for motor protection is also expected to rise, which would drive market growth. Combined protection of integrated relays and circuit breakers is also expected to boost the development of the global relay market. Furthermore, the increasing adoption of automobiles in the growing economies of APAC is also expected to boost the demand.

PCB mounting type is projected to be the fastest growing segment of the relay market, growing at a CAGR of 7.5%. PCBs are essential since they offer rigid support to hold components in place, electrical connections between components, and a compact package that may be integrated into a product. PCB is mostly used in various types of application industries such as LED, smartphones, computers, automotive, aerospace, maritime equipment, and many more. PCBs are also high in demand in the industrial and medical industries. This is because a wide range of devices, such as surgical equipment, cardiac monitors, and communication systems, use PCBs. Smart devices and growing consumer demand for consumer electronics are the main drivers for the growth of the printed circuit board mounting type relay market.

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Asia Pacific is expected to grow at the highest CAGR during the forecast period. China accounted for the maximum share of the Asia Pacific market in 2021. India is projected to grow at the highest CAGR from 2022 to 2030. The market is expected to grow due to the increasing demand for energy and raw materials in the manufacturing sector, which will lead to increased production of metals, chemicals, and paper. Thus, with the growing focus on manufacturing and the increasing expenditure on energy infrastructure, the Asia Pacific Global relay market is poised to witness significant growth and is expected to outpace other regions.

Monday, October 7, 2024

Analyzing the Global Bulk Filtration Market Size and Growth Potential

 According to a research report "Bulk Filtration Market Size by Filtration System (Cartridge, Bag, Filter press, Coalescer), End Use (Heavy Equipment, Machinery & Equipment, Commercial Marine, Power Generation), Mounting Type, Fluid Type, Application, Region - Global Forecast to 2030", the Bulk filtration market is anticipated to grow from estimated USD 13.63 billion in 2024 to USD 18.76 billion by 2030, at a CAGR of 5.5% during the forecast period. The growth in the market will be attributed to the increased industrialization especially in developing region such as Asia Pacific. Regulatory pressures and the need for operational efficiency are prompting many organizations to retrofit their facilities with advanced bulk filtration solutions. The growing demand for sustainable filtration solutions presents a major opportunity in the bulk filtration market, driven by stringent environmental regulations and the rise of the circular economy. Industries are increasingly pressured to adopt cleaner, energy-efficient filtration technologies to reduce waste and emissions. Technological advances in filtration systems have dramatically accelerated the market, as it has been instrumental in making things more efficient and less expensive while diversifying their products and making it more sustainable.

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Solid-Liquid Filtration, by application:

Solid-liquid filtration is an important process applied in both marine and industrial applications. In the process, solid particles are separated from liquids. Bulk filtration of such fluids, including water, oil, and fuel, is necessary to eliminate contaminants in the sediments, metals, and other particles. The practice is also crucial in maintaining machine performance, avoiding downtime, and enabling adherence to enduring regulations regarding environmental regulation. As the global trade expands further, especially using the transports of maritime, there is a boom in the development of marine filtration solutions to ensure the safety of the performance of the engine and minimize risks of operation. In fact, more than 80% of global trade by volume is transported using ships with good performance coming from reliable filtration systems for fuel and engines.

Bulk Filtration Market

Lubricants, by Fuel Type:

The fuel type segment is further segmented into 3 types: Fuels, Lubricants, and Hydraulic Fluids. Lubricants segment is expected be the drive the market. The rapid expansion of the energy sector, especially in power generation, is driving the growing need for bulk lubricant filtration. As coal, oil, and natural gas plants scale up operations, efficient lubrication systems are critical to ensure smooth functioning and minimize wear on machinery. Lubricants are applied to reduce friction in turbines, generators, and other crucial parts. Hence, it is essential to ensure they remain pure so that contamination will not potentially harm performance or lead to very costly downtime.

North America: Fastest-growing region

The rapid expansion of industries in the U.S. also presents a huge market for bulk filtration systems. The chemicals industry, though being very complex and with much variety in raw material, has an equally complex demand for very good quality filtration solutions for process streams to safeguard product quality. Together, the growth in the industry feeds the demand for filtration systems but also encourages continuous innovation and investment in filtration technologies. The strong emphasis of North American industries towards sustainability and operational efficiency have increasingly adopted advanced high-efficiency bulk filtration systems, whereas heavy emphasis on energy-saving measures in different process operations through optimized airflow and reduced pressure drops in different systems. These are some of the key factors driving the North American bulk filtration market.

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Key Players

Some of the major players in the bulk filtration market are Parker Hannifin Corp (US), Donaldson Company, Inc. (US), Filtration Group (US), MANN+HUMMEL (US), Eaton (Ireland) among others. The major strategies adopted by these players include new product launches, acquisitions, joint ventures, and expansions.

Friday, October 4, 2024

How Renewable Energy is Transforming the Offsite Data Center Power Infrastructure Industry

The global offsite data center power infrastructure industry is being driven by the exponential development in data generation and consumption, which is increasing need for scalable and efficient data center solutions. There are several key factors that underline the importance of offsite data center power infrastructure market. There is a growing demand for efficient and sustainable data management solutions. The most important driver is the exponential increase in the data generation and consumption across various sectors. These sectors include BFSI, healthcare, and IT & Telecommunications. The need for robust and scalable data centers increases with the increase in the digital footprints of the organizations. This has propelled the demand for advanced power infrastructure solutions which ensure operational excellence.

According to a research report, the market size for global offsite data center power infrastructure is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of USD 13.4 billion in 2024, at a Compounded Annual Growth Rate (CAGR) of 17.6% over the forecast period.

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The rise of edge computing and integration of IoT devices are also significant drivers of this market. There is an increasing need for decentralized data processing with the increase in device interconnectivity. Edge data centers are becoming crucial as they are located closed to end-users. These edge facilities need specialized power infrastructure to increase reliability and performance. Therefore, the demand for scalable and modular power solutions catering to edge computing are gaining momentum in the offsite data center power infrastructure market.

Finally, the rising adoption of cloud services and hybrid IT environments is driving the market growth. The intense workloads are migrated to cloud services. This is done achieve scalability, flexibility, and cost-efficiency. This shift increases the importance of offsite data center power infrastructure that can seamlessly integrate cloud services with edge data centers. The need for this seamless integration is driving investments in the offsite data center power infrastructure market.

Retail segment, by Vertical

The retail sector is the fourth most prominent market for power services in global off-site data services because digital reinvention in the retail industry has grabbled the sector into building robust, mobile and cloud infrastructure to accommodate the steep rise in online shopping and e-commerce platforms, and to embed or encompass AI and ML algorithms and big data analytics and the use of these technologies in personalization of recommendations, supply chain and optimization. But, that's not the only reason. Personalization of marketing and customer retention strategy for customer experience improvement, big data analytics, are also the critical reasons why the hyper scale data centers and retail industry is taking a more serious and intense approach to serious and efficient power systems in off-site data centers.

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Middle East & Africa to emerge as the fourth-largest offsite data center power infrastructure market.

The market share of Middle East & Africa in the global offsite data center power infrastructure market stands at fourth place - on a global scale - primarily due to the swift digital transformation and increasing investment in IT infrastructure of the region. Leading countries such as UAE and Saudi Arabia have been aggressive in implementing smart city initiatives and expanding their technology footprints warranting solid data center infrastructure. Rising internet penetration and subsequent increase in e-commerce, financial services and media sector has driven the demand for reliable and scalable power infrastructure.

Relay Market Size by Application: Automotive, Industrial, and Beyond

  The global relay market size is estimated to be USD 9.0 billion in 2022 and is projected to reach USD 14.7 billion by 2030, at a CAGR of ...