Marine Engines Market Outlook 2020 – Huge Growth, Trends, Revenue And In-Depth Analysis 2025

The global marine engines market is projected to grow from USD 11.8 billion in 2020 to USD 13.7 billion by 2025; it is expected to grow at a CAGR of 3.1% from 2020 to 2025. The key factors driving the growth of the marine engine market include growth in international marine freight transport, growth in maritime tourism, and increasing adoption of smart engines for situational awareness and safety.

The heavy fuel oil segment is expected to dominate the marine engines market, by fuel, during the forecast period.

The heavy fuel oil segment is expected to lead the marine engines market from 2020 to 2025. Heavy fuel oil is the commonly used fuel for marine engines across the globe. Inspite of the stringent emission controls and revisions in IMO standards, the demand for heavy fuel oil marine engines is expected to be the largest among all segments.

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The propulsion engine segment is expected to be the fastest-growing marine engines market, by engine, during the forecast period.

The propulsion engine segment, by engine, in marine engines market is estimated to grow at the fastest rate during the forecast period. Propulsion engines are the main engines of ships, providing thrust and power to move and sail the oceans. Marine propulsion engines are a very important asset of ships as they are the prime mover of the ship. Thus, the demand for propulsion engines across various engine types is expected to increase with the increased demand for marine engines.

Asia Pacific likely to emerge as the largest marine engines market

In this report, the marine engines market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and South America. Asia Pacific is estimated to be the largest market for marine engines during the forecast period. Asia Pacific is global leader in shipbuilding industry both in terms of exports and imports. It is considered to be a lucrative region for maritime trade. Countries such as China, Japan, and South Korea are considered as the main manufacturing hubs for marine engines. Over the past few years, this region has witnessed rapid economic development as well as the growth of the manufacturing and energy sectors, thereby resulting in an increase in the maritime trade. The rise in seaborne trade has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide.

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To enable an in-depth understanding of the competitive landscape, the report includes some of the top players in the marine engines market. Some of the key players are Hyundai Heavy Industries (South Korea), Caterpillar (US), MAN SE (Germany), Mitsubishi Heavy Industries (Japan), and Volvo Penta (Sweden). The leading players are adopting various strategies to increase their share in the marine engines market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Electronic Load Market Outlook 2019 – Huge Growth, Trends, Revenue And In-Depth Analysis 2024

 

The Electronic Load Market is expected to grow from an estimated value of USD 3.0 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 6.3% from 2019 to 2024. The growth of this market is driven by maximizing the reliability of wireless communication. North America and Asia Pacific are the leading regions for wireless communication and infrastructure as countries such as the US, Japan, China, and South Korea are investing substantially in 5G network infrastructure development.

The DC segment is expected to hold the largest share of the electronic load market, by current type, during the forecast period

DC electronic loads are used for testing a wide range of power devices, such as power supplies, power converter & inverter testing, batteries, automotive charging stations, solar panels, fuel cells, and other power electronics components. This segment is expected to hold the major share in 2019 owing to the increasing need for testing the reliability of batteries. Asia Pacific is expected to be the largest market during the forecast period due to the increase in the deployment of electric vehicles in countries such as China, Japan, and South Korea.  All these factors are expected to boost the DC market growth.

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Low voltage is the largest segment in the electronic load market, by voltage, during the forecast period

The low voltage segment held the largest share of the market in 2018. Low voltage electronic loads range up to 1,000 V.  Rise in the usage of portable devices and the growing need for testing the reliability of a power source are factors that are likely to drive the demand for low voltage electronic loads. Low voltage electronic loads are mainly used by the manufacturers to test equipment during the stage of production to understand the product features and its adherence to the technical standards.

This research report categorizes the electronic load market by voltage, current type, application, and region.

By Voltage:

• High Voltage
• Low Voltage

By Application:

• Aerospace, Defense & Government Services
• Automotive
• Energy
• Wireless Communications & Infrastructure
• Others

By Current Type:

• AC
• DC

By Region:

• North America
• South America
• Europe
• Asia Pacific
• Middle East & Africa

Automotive is expected to be the fastest-growing market, by application, during the forecast period

The automotive segment is driven by an increase in the development of electric and autonomous vehicles.  The growth of electric vehicles is dependent on batteries. Hence, battery manufacturers are using electronic loads to test the capacity of batteries using constant power mode to provide consistent power drain as the battery voltage drops over time. This helps them in identifying the right size batteries for electric vehicles during the manufacturing stage.

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North America is expected to dominate the global electronic load market

North America is the largest market for the electronic load. The region has been segmented by country into the US, Canada, and Mexico. The demand for electronic load in this region is driven mostly by aerospace, defense and government services, wireless communication, and automotive. It is the largest market for electronic load during the forecast as the device manufacturers use electronic loads to test numerous power devices during the manufacturing stage to avoid malfunctioning. The aerospace, defense & government services is the largest sector globally as they produce technologically advanced aircraft and defense systems. This is supported further by the national governments’ increasing defense spending and budget allocations. Moreover, this region also houses some of the major manufacturers who continuously focus on R&D to innovate new technologies.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the electronic load market. These include Keysight Technologies (US), AMETEK (US), National Instruments (US), Chroma ATE (Taiwan), and Teledyne Technologies (US). The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their respective market share.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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MarketsandMarkets™ INC.
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Turbine Control System Market is Expected to Grow at a Healthy CAGR with top players ABB, Siemens, Schneider Electric, Emerson, GE

 

The turbine control system market is expected to grow from an estimated USD 15.13 Billion in 2018 to USD 19.00 Billion by 2023, registering a CAGR of 4.66% during the forecast period. This growth is primarily due to the increasing emphasis on growth of wind power generation, and increase in operational productivity of the turbines, in turn improving the efficiency of the power plant.

Browse 65 Tables and 42 Figures spread through 147 Pages and in-depth TOC on "Turbine Control System Market by Component (Sensors, HMI, Controllers, Software), Type (Steam, Gas), Function (Speed Control, Load Control, Temperature Control, Pressure Control), and Region (Asia Pacific, North America, Europe) - Global Forecast to 2023"

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Speed control segment is expected to hold the largest share of the turbine control system market, by function during the forecast period

The speed control segment led the turbine control system market in 2017 and is projected to dominate the market during the forecast period. Speed control segment comprises of speed limiting and acceleration functions. Speed control is generally preferred in gas turbines, wind turbines, and steam turbines. Turbines require precise speed control to provide high-quality control accuracy and improved machinery protection. The rise in the adoption of wind generation across the world is one of the major drivers of speed control segment.

Target Audience:

• Companies related to electric power generation
• Energy & Environment associations
• Energy efficiency consultants
  
• Government and research organizations
• State and national regulatory authorities
• Turbine control system manufacturers
• Manufacturers’ Associations
• Public and private operators of natural gas power plants
• Institutional investors
• Suppliers of parts and components of the turbines industry
• Distribution consultancies
  

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Software segment is expected to be the fastest-growing segment of the turbine control system market

Software is expected to hold the largest market share during the forecast period from 2018 to 2023. Software segment includes IT applications such as advanced process control systems, digital synchronization, process optimization and process safety solutions, and remote view software program among others. It provides a common platform for devices to connect and operate. North America is expected to be the fastest growing region for software segment during the forecast period.

Steam turbine control system segment is expected to be the fastest-growing segment of the turbine control system market

The steam turbine control system is expected to be the fastest growing market from 2018 to 2023. Increasing usage of coal-based, diesel-based, and oil-based power generation in the developing countries is one of the key factors that drive the steam turbine control system market. Asia Pacific is expected to be the fastest growing region for the steam turbine control system segment during the forecast period.

Asia Pacific: The leading market for turbine control system

In this report, the turbine control system market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is expected to hold for the largest market share in the global turbine control system market in 2018. According to the International Energy Agency (IEA), China is expected to install 36% of all global hydroelectricity generation capacity, 40% of all worldwide wind energy, and 36% of all solar energy between 2015 and 2021. All the above factors are expected to raise the renewable energy sector in the region are likely to have a positive impact on the turbine control system market.

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Key Players -

The players include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Emerson (US), and GE (US). The leading players adopted various strategies to increase their market shares such as contracts & agreements, new product launches, and mergers & acquisitions.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Water Cut Monitors Market Revenue Is Anticipated to Reach $241 million by 2024

The Water Cut Monitors market is expected to grow from an estimated USD 188 million in 2019 to USD 241 million by 2024, at a CAGR of 5.0%, during the forecast period. The growth of the Water Cut Monitors market can be attributed to the rising demand for advanced and precise real-time monitoring instruments from the oil & gas sector, especially for upstream applications.

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The onshore segment is expected to hold the largest share of the water cut monitors market, by location, during the forecast period.

The onshore segment led the water cut monitors market in 2018 and is expected to grow at a considerable pace during the forecast period. The onshore oilfield service providers are focused on improving services for enhancing the production from mature fields and thus are coming up with advanced drilling procedures. Therefore, enhancement in digitalization increases the demand for water cut meters. With the adoption of water cut monitors, oil & gas operators can monitor water cut at upstream, midstream, and downstream applications. During drilling, accurate water cut measurement is crucial, as the oil operator wants to supply oil with minimum impurities at all stages of the supply chain to get maximum returns in terms of revenue. Thus, rising demand for real-time measurement instruments from oil operators in regions such as North America and Europe to manage production, reduce downtime, and incur lower human risk is a key factor driving the growth of the water cut monitors market.

The upstream sector segment is expected to be the largest segment of the Water Cut Monitors market.  

The upstream segment is expected to be the largest segment of the water cut monitors market, by sector, in 2018. Water cut monitors in the upstream sector are primarily used in well testing, separation vessel, and MPFM applications. The upstream sector is experiencing rapid digitalization by transforming traditional operating models into smarter operations, which reduces nonproductive time. Additionally, there has been a considerable increase in drilling activities globally. For instance, the total numbers of new wells drilled globally were approximately 71,000 in 2018, of which, about 4,000 were offshore and the remaining 67,000 onshore. The new well drilling activity witnessed a y-o-y growth of 7% from 2017. Thus, rising drilling activities and increasing adoption of real-time monitoring systems are major factors expected to drive the demand for water cut monitors in the upstream sector.

Asia Pacific: the leading Water Cut Monitors market

In this report, the Water Cut Monitors market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific market is expected to lead the Water Cut Monitors market by region. The growth of the Water Cut Monitors market in the Asia Pacific region can be attributed to rising imports from Middle East countries, development, and expansion of refineries, and increasing investment in the development of pipeline networks.

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Key Market Players

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Water Cut Monitors market. They are Weatherford (Switzerland), Emerson (US), Phase Dynamics (US), and Ametek Inc. (US). The leading players are trying to enter the market of developing economies and are adopting various strategies to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Portable Generator Market to Witness Comprehensive Growth by 2024

The global portable generator market size is expected to reach USD 2.5 billion by 2024 from an estimated value of USD 2.0 billion in 2019, at a CAGR of 4.1% during the forecast period. The market is set to grow due to increasing weather-related power outages and rising demand for uninterrupted and reliable power supply in developed and developing nations.

The residential segment is expected to be the largest portable generator market, by end-user, during the forecast period

Portable generators are used mainly for emergency power supply in case of weather-related power outages. Portable generators are used to run essential appliances such as lights, refrigerators, and fans. Apart from essential appliances, portable generators are also used for domestic recreational activities such as camping and picnic. Ease of start and portability are the main factors that drive the portable generator industry for residential end-users.

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The gasoline segment is projected to account for a major share of the portable generator market during the forecast period

The gasoline fuel-operated portable generators are expected to dominate the portable generator industry during the forecast period. Gasoline fuels are more compatible with small-capacity engines, and this is the main reason for the large market share of gasoline-powered generators. Apart from compatibility, the availability of fuel and clean operation are also the major factors for the growth of gasoline portable generators.

The emergency segment is projected to account for the largest share of the portable generator industry during the forecast period

The emergency segment is projected to dominate the portable generator market share based on the application. Increasing weather-related power outages and aging power generation & distribution networks are expected to drive the emergency portable generator segment during the forecast period.

The 5–10 kW segment is projected to dominate the portable generator industry throughout the forecast period

The 5–10 kW segment is expected to dominate the market, by power rating, during the forecast period. The 5–10 kW portable generator market is growing because its usage in construction-related activities in the Asia Pacific region is very high. Also, in North America, during frequent power outages in areas such as Puerto Rico and Mexico, users mostly prefer the 5–10 kW portable generators for power backup.

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North America is projected to dominate the global portable generator market during the forecast period

In this report, the market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is expected to lead the market during the forecast period.

The increasing number of weather-related power outages due to natural calamities such as hurricanes and heat waves are disrupting the power supply to millions of residential and commercial users. Because of these unfortunate incidents, the demand for portable generators is increasing in the North American market.

Key players -

To offer an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players such as Honda (Japan), Briggs & Stratton (US), Atlas Copco (Sweden), Generac (US), and Yamaha (Japan), Cummins (US), Caterpillar (US), and Wacker Neuson (Germany).

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Key Questions Addressed by the Report

• What are the revolutionary technology trends that could be witnessed over the next five years?
• What will be the revenue pockets for the portable generator market in the next five years?
• Which of the type segments will have the maximum opportunity to grow during the forecast period?
• Which will be the leading regions with the largest market share by 2024?
• How are the companies implementing organic and inorganic strategies to gain increased market share?

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Enhanced Oil Recovery Market 2020 Future Growth Explored in Latest Research Report by 2025

The global enhanced oil recovery market size is projected to reach USD 43.3 billion by 2025 from an estimated USD 59.4 billion in 2020, at a CAGR of 6.5% during the forecast period. Increased production from mature fields and the upsurge in the oil & gas production by countries owing to rising demand from the Asia Pacific. This has led to the enhancement of productivity of oil & gas wells , thus driving the market for global enhanced oil recovery.

The enhanced oil recovery market has promising growth potential due to growing shale activities. It is difficult to extract oil & gas from shale reservoirs due to its highly impermeable nature. According to the IEA, shale production from the US alone is expected to increase by 100 million barrels per day. Shale development in other countries such as China and Argentina are also likely to boost the well production activities in these countries, which is expected to drive the enhanced oil recovery market in North America, Latin America, and Asia Pacific.

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The enhanced oil recovery market, by technology, is segmented into thermal EOR, Chemical EOR, Gas EOR, and others. The gas EOR segment of the enhanced oil recovery market is expected to grow at the highest CAGR during the forecast period, as there is an increasing demand for carbon-capturing technologies and the declining cost of carbon capturing and sequestration. The need to enhance production from mature reservoirs is expected to drive the market for this segment during the forecast period.

The enhanced oil recovery market, by application, is categorized into onshore and offshore. The South American offshore segment is expected to provide many opportunities for enhanced oil recovery market in the future, owing to huge drilling activities in offshore Brazil and Venezuela gas production activities. Growth is driven majorly by the increasing production of heavy oil and redevelopment of mature oilfields. Furthermore, the investments to deepwater offshore areas are expected to offer lucrative opportunities for the enhanced oil recovery manufacturers during the forecast period.

North America is estimated to be the fastest-growing market for enhanced oil recovery during the forecast period. The region has been segmented, by country, into the US, Canada, and Mexico. The increasing shale oil & gas production in the North America region is driving the enhanced oil recovery market in this region. In the US, according to the EIA, by 2040, tight oil production and shale gas production is expected to reach 7.08 million BPD and 79 billion cubic feet per day, respectively. Moreover, the country has been experiencing huge investments from upstream operators to increase the production from the depleting fields, along with rising production rates of oil sands in Canada. Increasing exploration and productivities activities in ultra-deepwater locations in the Gulf of Mexico, which is likely to drive the North American enhanced oil recovery market.

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Recent Developments -

• In September 2019, TechnipFMC opened a surface international facility in ICAD II. The scope of the investment was to assist ADNOC to enhance its operations in Abu Dhabi. The new facility offered a broad range of TechnipFMC portfolio with its high technology equipment in drilling, completion, production, and pressure control segments.
• In November 2018, BP announced its first offshore deployment LoSal enhanced oil recovery technology to its Clair Ridge project in the West of Shetland region, offshore of the UK. BP owns 28.6% of the interest in the Clair field.
• In September 2018, BASF and Letter One recently signed an agreement to merge their respective oil and gas businesses in a joint venture, which will operate under the name Wintershall DEA.
• In August 2018, Baker Hughes Company was awarded a contract by Cairn Oil & Gas, Vedanta Limited to construct ~300 new wells and deploy a chemical EOR program aimed at increasing production from the Rajasthan area.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

COVID-19 Impact on the Battery Energy Storage Market All Set to Witness Massive Growth during Forecast 2021

Battery energy storage systems are rechargeable battery systems that store energy from renewable energy sources such as solar arrays or the electric grid and provide that energy to end-users. Battery energy storage systems mainly include lithium-ion batteries because of their high energy density. Asia Pacific is the major hub for global lithium-ion battery manufacturing, and China is the world’s largest lithium-ion battery manufacturer. The outbreak of COVID-19 has impacted the battery energy storage market as major lithium-ion manufactures are facing issues with a shortage of components and raw materials from lower tier suppliers in the country. One of the key market opportunities is the fall in prices of lithium-ion batteries in recent years. The cost of lithium-ion batteries could fall up to USD 160 per kWh by 2025, which will create new growth opportunities for the energy storage market in the long term. The other key growth opportunity during the COVID-19 outbreak for the market is planned projects and investment in grid-scale battery energy storage projects in North America, Europe, and Asia Pacific regions from 2020 to 2023.

MarketsandMarkets projects that the global battery energy storage market size is projected to grow from USD 5.7 billion in 2020 to USD 7.3 billion by 2021 during the forecast period. The growing need for continuous power from critical infrastructure sectors such as hospitals, data centers, military zones, and government cantonment zones has helped drive the demand for continuous power and energy storage systems.

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The battery energy storage market is driven by the need to integrate renewable energy sources and rural electrification. However, the increasing government focus on healthcare and economic slowdown due to the COVID-19 outbreak will undoubtedly act as a major restraint for the market growth. The energy storage sector is expected to get revival from government stimulus packages and extension of tax credits. These initiatives will further create opportunities for battery energy storage operators to implement projects continuously.

Lithium-ion batteries dominate the current market for utility-scale battery storage in the world. Due to the COVID-19 pandemic, according to the NREL, technological innovations in lithium-ion chemistries and improved manufacturing capacity have resulted in a steep price decline of over 70%, and prices are projected to decline further which will create new growth opportunities for the energy storage market in the long term. The other key growth opportunity during the COVID-19 outbreak for the market is planned projects and investment in grid-scale battery energy storage projects in North America, Europe, and Asia Pacific regions from 2020 to 2023.

The utilities segment, by application, is dominating the battery energy storage market, and the trend is anticipated to continue during the forecast period as well. According to the US EIA and NREL, utility-owned battery energy storage systems play a crucial role in the operations of current and future energy generation mix of a country. In addition to the system flexibility they provide, battery energy storage systems also offer reliable interconnections in neighboring power systems. The utility-owned segment is mainly being driven by increasing financial incentives and regulatory supports from the governments globally.

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In terms of geographic coverage, the battery energy storage market is segmented into four regions due to the COVID-19 outbreak, namely North America, Europe, Asia Pacific, and Rest of the World (RoW). The Rest of the World includes regions such as South America, Middle East, and Africa. Asia Pacific is projected to dominate the market during the forecast period due to the increasing demand for battery energy storage systems for grid balancing and rural electrification activities in China, India, and Japan. However, the COVID-19 outbreak brought China’s battery energy component production to a standstill. North America is the second largest market. The US is also facing supply chain issues as it mainly sources battery parts from China.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Oil Accumulator Market Expected to Witness the Highest Growth during 2020-2023

The oil accumulator market is expected to grow from an estimated USD 488.5 million in 2018 to USD 617.1 million by 2023, at a CAGR of 4.78%, during the forecast period. The market is set to witness growth because of the digital revolution in the oil & gas industry and shale gas exploration in the US.

Bladder segment is expected to be the largest oil accumulator market, by type, in 2018.

The bladder segment of the oil accumulator market, by type, is expected to be the largest market from 2018 to 2023. Factors such as high investment in onshore and offshore industries are driving the oil accumulator market. The strong market share of bladder accumulators is attributed to high preference of customers for this type of accumulator, which is further expected to continue holding the largest share in the future with new API regulations. Another advantage of bladder accumulators is that it can be used for almost many offshore applications and has high durability compared with other types.

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Up to 6,000 PSI segment is expected to be the fastest oil accumulator market, by pressure ratings, during the forecast period.

The up to 6,000 PSI segment is expected to be the fastest growing oil accumulator market from 2018 to 2023. This is due to various factors, including rising investments in the oil & gas industries. Consumption of accumulators of pressure ranges up to 6,000 psi is higher because of the application of multiple units in place of a single unit to avoid idle time during production or drilling; this is expected to drive the up to 6,000 PSI segment of the oil accumulator market.

The scope of the report:

• By Type
  • Bladder Accumulator
  • Piston Accumulator
  • Diaphragm Accumulator
• By Pressure Rating
  • Up to 6,000 Psi
  • Above 6,000 Psi
• By Onshore Vs Offshore
  • Up to 6,000 Psi
  • Above 6,000 Psi
• By Application
  • Blow out preventer & well head control
  • Offshore rigs
  • Mud pumps
• By Region
  • Asia Pacific
  • Europe
  • North America
  • Middle East
  • Africa
  • South America

North America: Largest oil accumulator market during the forecast period.

In this report, the oil accumulator market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. North America is the largest oil accumulator market, by region, during the forecast period. Digitalization in the oil & gas industry, shale gas exploration in the US, and supportive government plans are expected to drive the market for oil accumulators in this region. The US and Canada are the leading countries, among others, which are likely to contribute to the growth of the oil accumulator market in North America.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the oil accumulator market such as Hydac (Germany), Parker Hannifin (US), Eaton (Ireland), Freudenberg (Germany), Bosch Rexroth (Germany), and Nippon Accumulator (Japan).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Explore the Microgrid Control System Market | By Company Profiles | Size | Share | Growth | Trends and Forecast To 2023

The microgrid control system market is expected to grow from an estimated USD 2.0 billion in 2018 to USD 3.6 billion by 2023, at a CAGR of 13.01%. Increasing investments in electric networks, refurbishment of the existing grid networks, and growing adoption of renewable energy sources across the globe are likely to drive the microgrid control system market. Rising electrification projects and advancement in the Internet of Things (IoT), as well as communication technologies, can lead to opportunities in the microgrid control system market.

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The off-grid segment is expected to hold the largest share of the microgrid control system market, by grid-type, during the forecast period.

The off-grid segment led the microgrid control system market in 2018 and is projected to have the largest market share during the forecast period. Remote/island/off-grid microgrids are mainly used to provide diverse power sources for geographically remote communities and developing countries. This growth can be attributed mainly to the growing demand to attain reliable and sustainable power supply majorly in rural areas of the Asia Pacific and the Middle East & Africa region. Also, these type of microgrid control systems have a huge demand in military bases, mining, and oil & gas industries. Increasing focus to reduce diesel fuel consumption by integrating solar PV and distributed wind further drives the microgrid control system market.

This research report categorizes the microgrid control system market based on grid-type, ownership, component, end-user, and region

On the basis of grid-type, the market has been segmented as follows:

• On-Grid
• Off-Grid

On the basis of component, the market has been segmented as follows:

• Hardware
• Software

On the basis of ownership, the market has been segmented as follows:

• Private
• Public

On the basis of end-user, the market has been segmented as follows:

• Utilities
• Campuses and Institutions
• Commercial and Industrial
• Others (Defense & datacenters)

On the basis of region, the market has been segmented as follows:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

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The private segment is expected to hold the largest share of the microgrid control system market, by ownership, during the forecast period.

The private segment led the microgrid control system market in 2018. Factors such as increasing demand for electricity, rising power generation capacity, and increasing usage of renewable sources to generate electricity are expected to boost the demand for the private microgrid control systems. Private players find microgrid control system’s major application in defence, university campuses, and commercial and industrial end-users. Also, rising investments in electrification projects, in which microgrid technologies are highly deployed encourages private players to invest in the microgrid control system.

Asia Pacific: The leading market for microgrid control system market

In this report, the microgrid control system market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific led the global microgrid control system market in 2017. The high growth rate in the Asia Pacific region can be attributed to increased investments in the electric grid development and growing reliance on renewable sources of power generation. China and India are the largest markets for microgrid control system market in the region. China accounts for the largest share owing to the increasing investment in electrification projects, the country accounted for highest installed generation and distribution capacity in the Asia Pacific region, resulting in an increased demand for the microgrid control system.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the microgrid control system market. The key players are ABB (Switzerland), GE (US), Siemens (Germany), Schneider (France), Eaton (Ireland), Emerson (US), Spirae (US), Schweitzer Engineering Laboratories, Inc.  (US), ETAP (US), S&C Electric (US), Woodward, Inc. (US), PowerSecure (US), RT SOFT (Germany), Ontech Electric Corporation (China). Contracts & agreements was one of the key strategies adopted by the players to strengthen their global presence and offerings.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Progressing Cavity Pump Market Latest Trends, Development, Growth Analysis And Forecast by 2026

According to the new market research report "Progressing Cavity Pump Market by Pumping Capacity (Up to 500 GPM, 501–1,000 GPM, and more), Power Rating (Up to 50 HP, 51–150 HP, and more), End User (Oil & Gas, Food & Beverages, and more), and Region - Global Forecasts to 2026", published by MarketsandMarkets™, the global Progressing Cavity Pump Market size is projected to reach USD 5.9 billion by 2026, at a CAGR of 6.0%, from an estimated USD 4.4 billion in 2021.  The key drivers for the Progressing Cavity Pump Market include use of PCPs in enhanced oil recovery and upstream processes and Intensifying need for water & wastewater management in developed nations.

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The up to 500 GPM segment by pumping capacity, is the largest contributor in the progressing cavity pump during the forecast period.

Progressing cavity pumps offering pumping capacity in the range of 0 to 500 GPM capture the largest share of the global PCP market. In 2020, the segment captured more than 65% of the total market owing to the versatility in operation offered by these pumps. In addition to compact size, these pumps require less power-consuming electric or hydraulic motors that are favored across the world for lower operational cost as well as high efficiency. Lower operational cost is also one of the prime factors due to which end-use industries prefer to use these motors over their more powerful counterparts. The food & beverages industry is among the top consumers of these pumps due to the relatively low requirement of flow rate for fluid processing.

Power rating, the up to 50 HP segment is expected to be the largest market for progressing cavity pump during the forecast period.

PCPs rated up to 50 hp are predominantly used for abrasion resistance in tough pumping applications. PCPs become mechanical, and their volumetric efficiency rises when the viscosity of the liquid increases and PCPs require limited power supply and flow as compared to other pumps. PCPs rated up to 50 hp are used mainly in the wastewater treatment (for handling polymers, waste, sludge, and flocculants); chemicals (for handling detergents, varnish, paints, inks, and soaps); buildings (for handling cement and bentonite); agro and food (for handling creams, emulsions, wine, and olive oils); food & beverages (for handling dairy product, beverage, convenience food, fruits and vegetables, baked goods, sauce and starch, personal care, meat, fish, and animal food) industries. Progressing cavity pumps with such power rating are not extensively used in the oil & gas industry owing to the fact that the oil & gas industry demands high power rated operational equipment.

Browse in-depth TOC on "Progressing Cavity Pump Market"

125 – Tables
55 – Figures
215 – Pages

View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/progressing-cavity-pump-market-142949269.html 

The water & wastewater management end user segment is expected to be the largest contributor during the forecast period.

Water & wastewater is the largest end user of PCPs among all the industries. The need to reduce life cycle costs and improve operating margins is anticipated to boost the usage of PCP units in the water & wastewater industry for the processing of polymers, waste, sludge, and flocculants. Intensifying demand for freshwater, handling liquids with higher viscosities, and a clean environment would also propel the need for water and wastewater management in the future, thereby creating opportunities for the usage of PCPs. The demand for these pumps is likely to rise from new plant installations, unit expansions, and unit upgrades. According to the UN, the worlds population will increase from 7.2 billion in 2013 to 8.1 billion by 2025. Hence, factors such as population growth, especially in urban areas, industrial development, increasing emphasis on wastewater treatment, international commitments and targets, and government policies would facilitate the growth of the water & wastewater industry. Moreover, by 2030, the UN plans to achieve universal and equitable access to safe and affordable drinking water and adequate and equitable sanitation for all. This calls for huge investments in the water & wastewater sector. This, in turn, would push the demand for PCPs during the forecast period.

Asia Pacific is expected to dominate the global Progressing Cavity Pump Market

The Asia Pacific region was the largest market for progressing cavity pumps in 2020 and accounted for a share of 35.7% of the global market. The PCP market in Asia Pacific has been studied for China, Australia, India, and Japan. The other Asian countries considered in the study are Thailand, Malaysia, the Philippines, Singapore, and South Korea. According to the IMF, the economic outlook for Asia Pacific remains strong, and the region continues to be the most dynamic in the global economy. The region has many top global economies, such as China, India, and Japan, and is expected to grow at 5.6% till 2022. The major end users of progressing cavity pumps in the region include water & wastewater treatment, oil & gas, and food & beverages industries. The market in this region will be largely driven by China and India—countries exhibiting fast-paced economic expansion and healthy industrial growth rates. The market in Southeast Asian countries, such as Malaysia and Thailand, is at various stages of development. The government of Malaysia aims to serve clean water to 99% of the population by 2022 from 95.5% in 2015. Such targets are likely to reflect favorably on the PCP market. According to the Indian Ministry of Finance, the country plans to invest USD 646 billion by 2022 in various areas of development. About 70% of the investment would be made in power, roads, and urban infrastructure.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top manufacturers in the Progressing Cavity Pump Market. These players include Xylem (US), Weir (UK), Sulzer (Switzerland), Roto Pumps (India), EBARA Corporation (Japan), Wilo (Germany), ITT Corporation (US), NETZSCH (Germany), CIRCOR International (US), SEEPEX (Germany).

Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

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About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com 

Content Source: https://www.marketsandmarkets.com/PressReleases/progressing-cavity-pump.asp

Asia Pacific Generator Sales Market 2025 Expected to Rise at A Higher CAGR Value, Driving Factors, Sales and Revenue

The Asia Pacific generator sales market size is projected to reach USD 8.8 billion by 2025 from an estimated USD 6.8 billion in 2020, at a CAGR of 5.1% during the forecast period. Increasing demand for uninterrupted and reliable power supply in several industries is driving the growth of the market. Moreover, the electrification of rural areas in developing countries is likely to provide opportunities for Asia Pacific generator sales industry.

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The industrial end-user segment is expected to grow at the highest CAGR from 2020 to 2025.

Industrial generators ensure a continuous supply of power in the event of power failure from the grid system. Thus, such generators guarantee an efficient performance of the equipment, in case there are breaks on the electric supply. Moreover, mining industries raise the demand for diesel generators as they provide over 70% of all the power needed in mining operations by heavy-duty equipment, such as excavating machinery, drillers, conveyor belts, and cranes. Developing countries, such as China, India, and Thailand, are witnessing rapid industrialization and have introduced several policies to support industrial growth, including adequate power supply. Thus, industries keep generators for peak shaving time to continue their operations irrespective of power outages in remote locations. These factors drive the growth of the industrial generator sales market.

The 2,500–5,000 kVA power rating segment is expected to grow at the highest CAGR in the Asia Pacific generator sales industry during the forecast period.

Generators with a capacity of 2,500–5,000 kVA are mostly used in large manufacturing facilities, power generation, and commercial sectors—the end-users select generator capacity based on their requirements. For instance, in 2018, GE Renewable Energy and GE Power provided 270 MW of wind energy capacity to Wind Energy Holding for the Theparak Wind Farm in Central Thailand. Such developments drive the demand for electric generators as electromechanical generators in power plants generate power. Therefore, high demand in the power generation sector is expected to emerge as key revenue pockets for the 2,500–5,000 kVA generators in the Asia Pacific generator sales market.

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The standby segment is expected to grow at the highest CAGR during the forecast period.

Standby power generators are used in applications requiring a regular power supply to carry out operations. Their primary function is to supply emergency power for a limited duration during a power outage. Moreover, commercial buildings, such as the telecom industry, hospitals, data centers, and office buildings, require emergency power. Hospitals and data centers consume a large amount of energy and require generator sets that are reliable and ensure continuous power supply in the event of grid failure and power outages. Also, in the Asia Pacific region, the use of standby diesel generators is high due to the availability of fuel and as it offers continuous power supply during peak hours. Further, standby gensets are witnessing increasing demand due to the increased demand from hospitals and data centers for uninterrupted and reliable power supply in the Asia Pacific region.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Asia Pacific generator sales market. The major players in the Asia Pacific generator sales industry are Caterpillar (US), Cummins (US), Generac (US), Wärtsilä (Finland), Mitsubishi Heavy Industries (Japan), Rolls-Royce Holdings (UK), Yanmar (Japan), Siemens (Germany), Weichai Group (China), and Sterling & Wilson (India). These players are adopting various strategies to increase their share in the Asia Pacific generator sales market. Contracts & agreements, and new product launches have been a widely adopted strategy by the major players in the generator sales industry.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

 

Centrifugal Pump Market Latest Trends, Development, Growth Analysis And Forecast by 2026

According to the new market research report "Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, Between Bearing), Operation Type (Electric, Hydraulic, Air Driven), Stage (Single Stage, Multistage), End-User (Industrial, Commercial, Residential), Region - Global Forecast to 2026"The global centrifugal pump market is projected to reach a size of USD 48.8 billion by 2026, at a CAGR of 5.9%, from an estimated USD 36.6 billion in 2021. High demand for centrifugal pumps in the agricultural sector and increasing investments in the construction industry attributing to rapid urbanization are the key factors driving the growth of the centrifugal pumps market.  Likewise, the up-gradation of aging and construction of new water & wastewater treatment facilities and adoption of solar-powered centrifugal pumps are expected to offer lucrative opportunities for the submersible pumps market during the forecast period.

Browse 305 market data Tables and 63 Figures spread through 302 Pages and in-depth TOC on "Centrifugal Pump Market - Global Forecast to 2026"

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By Stage, the single stage centrifugal pump market is expected to be the largest centrifugal pump market, in 2020.

The single stage pump segment is expected to be the largest segment of the centrifugal pump market, by stage, in 2026. These pumps are widely used in the industrial sector as they can handle large flow volumes of fluids. Increased investments in infrastructure and solar power plants and the growing household sector in developing countries are the key drivers of the single stage centrifugal pump market

By Type, the electrical segment is expected to dominate the centrifugal pump market, during the forecast period. 

The electrical centrifugal pump segment held the largest market size as these pumps can handle both solids & liquids and are used across numerous sectors to boost production. Electrical centrifugal pumps are used in different sectors, such as industrial, agricultural, and domestic. For instance, in the oil & gas industry, electrical centrifugal pumps are used to increase the flow of fluids from wells when a reservoir does not have enough energy to produce at economical rates naturally and boost production to improve financial performance. The growth of this segment is due to its increasing demand attributed to high reliability and efficiency, and as it never has to be primed as it is already submerged in the fluid. 

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By end-user, the industrial segment is the largest contributor in the centrifugal pump market during the forecast period.

The industrial segment is estimated to lead the centrifugal pump market. Asia Pacific was the largest market for the industrial end-user segment in 2020. This is attributed to the increasing population and ongoing urbanization, especially in the emerging economies of Asia.

Asia Pacific is expected to be the largest and fastest-growing market during the forecast period.

In this report, the centrifugal pump market has been analyzed for six regions, namely, Asia Pacific, Europe, North America, South America, Middle East, and Africa. Asia Pacific region has been segmented, by country, into China, Japan, India, South Korea, Bangladesh, and Rest of Asia Pacific. Rest of Asia Pacific includes Thailand, Australia, and Singapore. The major applications for centrifugal pumps in the region include water & wastewater treatment, commercial & residential complexes, and the agricultural sector. Factors driving the adoption of centrifugal pumps in the agricultural sector in Asia Pacific include the growing demand for food, rising pressure to improve yields with limited available resources, and increasing requirement to protect crops from unexpected climatic changes. Furthermore, rapid industrialization and infrastructural developments in the region offer growth opportunities for the Asia Pacific centrifugal pump market.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the centrifugal pump market are Grundfos (Denmark), KSB (Switzerland), Flowserve (US), Sulzer (Switzerland), and Xylem (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Smart Ports Market rising demand growth trend insights for next 5 years

The global smart ports market is projected to reach USD 5.3 billion by 2024 from an estimated USD 1.7 billion in 2019, at a CAGR of 25.0% during the forecast period. This growth can be attributed to factors such as an increasing introduction of green initiatives and the requirement of ports to comply with the environmental regulations that have been implemented by the governments of several nations. The usage of big data and cloud computing to cut down the carbon emissions and at the same time, boost internal operational efficiency is a major driving force for the market.

The extensively busy segment is expected to be the largest smart ports market, by throughput capacity, during the forecast period.

The extensively busy ports are expected to be the largest and the fastest growing market segment during the forecast period. Extensively busy ports generate a larger share of revenue when compared to that of the moderately and scarcely busy ports due to the large-size of operations in the former. This enables these ports to invest in the latest technologies to improve their operational coefficient.

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The sea ports segment is expected to be the fastest growing segment of the smart ports market during the forecast period.

Sea ports are situated out in the sea whereas inland ports are the ones that are situated in the inland waterways, like streams, rivers, and rivulets. Most commercial and passenger cruises dock in the sea ports, and thus the seaports have the lion’s share of the revenues in this segment. These ports invest their working capital in upgrading the condition by installing efficient technologies and smart solutions.

This research report categorizes the smart ports market based on technology, elements, throughput capacity, port type, and region.

Based on technology, the smart ports market has been segmented as follows:

• Internet of things (IoT)
• Blockchain
• Process automation
• Artificial intelligence

Based on the elements, the smart ports market has been segmented as follows:

• Terminal automation & cargo handling
• Port community system (terminal booking services, content management dashboard, document management, vessel data & arrival information, inquiry, search & inquiry)
• Traffic management system (sea, railway, truck)
• Automated information system(ais) – cloud, application software, control systems
• Real-time location system (RTLS) – cloud, application software, control systems
• Others (traffic signal monitoring & control, dynamic message sign monitoring and control, and chain control, integrated rail & barge platform) 
• Smart port infrastructure
• Automated mooring systems
• Gate automation
• Shore power
• Smart energy & environment solutions 

Based on throughput capacity, the smart ports market has been segmented as follows:

• Extensively busy (above 18 million teu)
• Moderately busy (5-18 million teu)
• Scarcely busy (below 5 million teu)

Based on the region, the smart ports market has been segmented as follows:

• Asia Pacific
• North America
• Europe
• Middle East & Africa
• South America

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Asia Pacific to account for the largest share within the global smart ports market

In this report, the smart ports market has been analyzed with respect to five regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. The Asia Pacific is estimated to dominate the global smart ports market in 2019, owing to the growth in the industrial, manufacturing, textile, pulp & paper, and power generation industries in countries such as China, Singapore, Hong Kong, and Japan. This lead to the massive growth in trade in the region, which in turn is expected to boost maritime activities in this region. Thus, a significant scope of growth and development in smart ports exists in these regions.

The report includes the profiles of some of the top players in the smart ports market to enable an in-depth understanding of the competitive landscape. Some of the key players are Royal Haskoning (The Netherlands), IBM (USA), ABB (Switzerland), Trelleborg AB (Sweden), Port of Rotterdam (The Netherlands), and Abu Dhabi Ports (UAE). The leading players are adopting various strategies to increase their share in the smart ports market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Commercial Water Heaters Market Development Opportunities Accelerate in 2026

The global commercial water heaters market size is projected to reach USD 7.7 billion by 2026 from an estimated value of USD 5.4 billion in 2020, growing at a CAGR of 6.1%. The increasing investments for the development and expansion of commercial sector operations across different regions and supportive regulations & grants for using renewable sources of energy in different applications are the key factors driving the commercial water heaters market are driving the growth of this market.

The commercial water heaters market is dominated by a few global players, mainly from the North America, Asia Pacific, and Europe. Key players in the commercial water heaters market include A.O. Smith Corporation (US), RHEEM Manufacturing Company (US), Rinnai Corporation (Japan), Solahart Industries (Australia), Carrier Global (US), Stiebel Eltron (Germany), etc. Other players in the market include the likes of Viessmann Group (Germany), NIBE Energy Systems (Sweden), Danfoss (Denmark), Valliant Group (Germany), American Water Heaters (US), Daikin (Japan), Mitsubishi Electric (Japan), Andrewes Water Heaters (Baxi Heating) (UK), and more.

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The solar segment is estimated to be the fastest-growing segment of the commercial water heaters market, by type, from 2020 to 2026. Solar commercial water heaters segment is getting a boost during the forecast period due to the increased awareness about the usage fo renewable technology in water heating for commercial operations. Additionally, supportive grants, incentives, and regulations are also helping this market to grow at a healthy pace.

The 10–50kW segment of the commercial water heaters market, by rated capacity, is estimated to grow at a faster rate from 2020 to 2026. Ease of operations owing to their instantaneous water heating capability is driving the growth of the 10–50kW rated capacity segment of the commercial water heaters market.

The below 500 liters segment of the commercial water heaters market, by liter, is estimated to grow at a faster rate from 2020 to 2026. The growth of this segment can be attributed to the ample water provided by below 500 liters commercial water heaters for almost all applications, except for a few water-intensive applications.

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The commercial water heaters market has been segmented, by region, into Europe, North America, Asia Pacific, Africa, and South America. The Asia Pacific region is projected to grow at the fastest rate, from 2020 to 2026, followed by North America and Europe. Countries such as China, South Korea and Australia are the fastest-growing markets in the Asia Pacific region, owing to the increase in installations of solar based commercial water heaters. China is projected to grow at the highest CAGR from 2020 to 2026. This is mainly due to the increasing investment in technologies that can help it in limiting its carbon footprint and increase the efficient usage of electrical power.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Concentrating Solar Power Market Outlook 2020 – Huge Growth, Trends, Revenue And In-Depth Analysis 2025

The global Concentrating Solar Power Market size is expected to grow from an estimated USD 3.5 billion in 2020 to USD 7.6 billion by 2025, at a CAGR of 16.4%, during the forecast period. The market is set to witness growth due to the growing solar deployment because of support from the government and the growing use of CSP in mini-grid applications.

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The solar power tower market is expected to be the largest concentrating solar power market, by technology, in 2019.

The solar power tower segment is expected to be the largest segment of the concentrating solar power market, by technology, in 2019. The segment is expected to grow during the forecast period due to the higher temperatures that can allow higher efficiency of the steam cycle and decrease water consumption for cooling the condenser. The higher temperature uses thermal energy storage for achieving schedulable power generation. Thus, increasing adoption of solar power towers due to reduction in cost or allowing greater storage for the same price.

The with storage segment is expected to hold the largest share of the concentrating solar power market, by operation type, during the forecast period.

The with storage segment is the fastest-growing market and is projected to dominate the market during the forecast period. The need to generate power even during nights and to provide continuous supply of electricity due to thermal energy storage is driving the operation segment of concentrating solar power market. This would ultimately create new revenue pockets for the concentrating solar power market during the forecast period.

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Asia Pacific: Key market for concentrating solar power during the forecast period.

In this report, the concentrating solar power market has been analyzed with respect to 6 regions, namely, Asia Pacific, Europe, North America, South America, the Middle East and Africa. Asia Pacific is expected to be the largest concentrating solar power market, by region, during the forecast period. Countries such as China, India and Australia are the fastest-growing markets in the Asia Pacific region, owing to the increase in installations of CSP plants. China is projected to grow at the highest CAGR from 2020 to 2025. This is mainly due to the increasing investment in CSP for stabilizing power grid is driving this country. In addition, the region focuses on the need to generate continuous renewable electricity to support growing economic activities will drive the concentrating solar power market in Asia Pacific region.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the key players in the concentrating solar power market such as Abengoa (Spain), BrightSource Energy (US), ACWA Power (Saudi Arabia), Aalborg CSP (Denmark), and SolarReserve (US) and other players such as TSK Flagsol Engineering GmbH (Germany), Alsolen (Morocco), Cobra Energia (Spain), Torresol Energy (Spain), Acciona Energy (Spain), eSolar (US), and Enel Green Power (Italy).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com