Combined Heat and Power Market to Observe Strong Growth by 2029 | GE, Siemens Energy, Veolia, Wärtsilä

According to a research report "Combined Heat and Power Market by Prime Mover (Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine), Capacity (Up to 10 MW, 10-150 MW, 151-300 MW, Above 300 MW), Fuel, End User and Region - Global Forecast to 2029" published by MarketsandMarkets, the Combined heat and power market is projected to reach USD 39.2 billion by 2029 from an estimated USD 30.4 billion in 2024, at a CAGR of 5.2% during the forecast period.

The demand for combined heat and power (CHP) is growing due to its efficiency in generating electricity and capturing waste heat for heating or cooling purposes, reducing energy costs and emissions. It offers benefits like increased energy efficiency, lower operational costs, and enhanced grid resilience. CHP systems are used in various sectors including industrial facilities, commercial buildings, hospitals, universities, and residential complexes to meet energy needs sustainably.

Browse 414 market data Tables and 62 Figures spread through 333 Pages and in-depth TOC on "Combined Heat and Power Market - Global Forecast to 2029"

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Coal, by fuel, is expected to grow by the second largest segment during the forecast period.

Based on fuel, the combined heat and power market has been segmented into coal, natural gas, biogas/biomass, nuclear, diesel and others. Coal is the second-largest primary fuel source for power generation globally, contributing to about 40% of worldwide electricity production. The rise in coal-fired power plants, particularly in China and India, is driving the demand for steam turbines, thereby fueling the market for Combined Heat and Power Systems (CHPS). Due to factors such as infrastructure development projects and increased demand for electricity, coal remains a prominent choice for power generation despite concerns over coal shortages and high prices.

The utilities segment by end user is expected to grow at the second largest during the forecast period.

This report segments the combined heat and power market based on end user into utilities, industrial, commercial, and residential. The utilities segment is expected to grow as the second largest in the combined heat and power market due to its ability to offer both electricity and thermal energy at low costs. Combined Heat and Power (CHP) systems are increasingly favored by utilities. Their high efficiency, reaching up to 80%, compared to traditional thermal plants, makes them a key technology for utilities seeking to monetize heat generation and enhance operational efficiency. The rising adoption of large-scale centralized CHP systems by utilities reflects their realization of the commercial and technical benefits, driving the growth of the CHP market.

South America is expected to be the second fastest-growing region in the combined heat and power market.

South America is expected to be the second fastest-growing region in the combined heat and power market during the forecast period. The South American region has been subdivided into three key countries: Brazil, Argentina and Rest of South America. Rest of South America includes Colombia, Ecuador, Bolivia, and Chile. The combined heat and power market is flourishing in South America due to a surge in offshore exploration and oil & gas activities, coupled with significant investments required to meet rising power demands, South America emerges as the second fastest-growing region. The region's decreasing reliance on hydroelectricity in favor of natural gas generation presents promising opportunities for the combined heat and power (CHP) market.

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Key Players

Some of the major players in the Combined heat and power market are GE (US), Siemens Energy (Germany), Veolia (France), Wärtsilä (Finland), and 2G Energy (Germany). The major strategies adopted by these players include sales contracts, product launches, investments, collaborations, partnerships, and expansions.

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Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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eFuse Market Research on Growth, Trends, Opportunity and Forecast to 2029

According to a research report "eFuse Market Type (Auto Retry, Latched), Package Type (Small Outline No Lead, Dual Flat No Leads, Quad Flat No Leads, Think Shrink Small Outline Package), Application, End User, & Region - Forecast to 2035" published by MarketsandMarkets, the eFuse market is projected to reach USD 674 million by 2029 from an estimated USD 557 million in 2024, at a CAGR of 3.9% during the forecast period.

The growing requirement for advanced circuit protection in a variety of high-tech industries is driving up demand for eFuses globally. eFuses are being integrated by end users such as servers, hard disc drives (HDD), and solid-state drives (SSD) in order to protect against power anomalies in data centres, automobile electronics, and consumer electronics. System reliability is improved by the availability of eFuses in varieties like auto-retry and latching, which allow customised protection mechanisms. Compact design needs of contemporary electronic devices are met by packaged kinds such as Thin Shrink Small Outline Package (TSSOP), Dual Flat No Leads (DFN), Quad Flat No Leads (QFN), and Small Outline No Lead (SON), which allow for flexible integration into a variety of applications.

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Solid State drives, by application, is expected to be the largest-growing segment during the forecast period.

Based on application, the eFuse market has been split into up to solid state drives, hard disk drives, servers and data centres equipment, automotive electronics and other application. The solid state drives segment is expected to be the largest growing segment because solid state drives are becoming more and more used in data centres, enterprise storage, and consumer gadgets due to their advantages over traditional hard disc drives in terms of speed, dependability, and energy economy. eFuses prolong the life of solid state drives and improve data integrity by offering crucial protection against overcurrent and short circuits. The need for eFuses in solid state drives rises in tandem with the need for quicker, more dependable storage solutions, particularly in high-performance computing applications.

The latched segment, by type, is expected to be the fastest-growing segment during the forecast period.

This report segments the eFuse market based on the type as, auto retry and latched. The latched segment is expected to be the fastest-growing in the eFuse market due to its ability to provide persistent protection by remaining in an off state after a fault until manually reset. This feature is crucial for applications requiring high safety standards and minimal downtime, such as in automotive electronics, industrial systems, and critical IT infrastructure. The latched mechanism ensures a robust response to overcurrent conditions, significantly enhancing system reliability and safety.

Asia Pacific is expected to be the largest region in the eFuse market.

Asia Pacific is expected to be the largest region for the eFuse market due to several key factors. Firstly, it houses several rapidly developing economies with booming electronics, automotive, and telecommunications sectors, all of which extensively use eFuses for circuit protection. Secondly, the region is a global manufacturing hub for electronic devices and components, leading to a high demand for eFuses in production processes. Additionally, governments in Asia Pacific are heavily investing in digital infrastructure and renewable energy projects, further driving the demand for sophisticated circuit protection solutions. Finally, the growing consumer electronics market in countries like China, India, and South Korea contributes significantly to the region's dominance.

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The eFuse market is served by a mix of large international players with global operational presence and local players with a strong domestic supply network. Analog Devices, Inc. (US), STMicroelectronics (Switzerland), Monolithic Power Systems, Inc. (US), Microchip Technology (US) and Qorvo, Inc. (US) are the market leaders in the EFuse market. These companies use strategies such as acquisitions, sales contracts, product launches, partnerships to increase their market share.

About MarketsandMarkets™

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Marine Engines Market to Observe Strong Growth by 2029 | Caterpillar, Wärtsilä, Man Energy Solutions

According to a research report "Marine Engines Market by Engine (Propulsion and Auxiliary), Type (Two Stroke and Four Stroke), Power Range (Up to 1,000 hp, 1,001-5,000 hp, 5,001-10,000 hp, 10,001-20,000 hp, and Above 20,000 hp), Fuel, Vessel and Region - Global Forecast to 2029" published by MarketsandMarkets, the market size for marine engines is projected to reach approximately USD 15.2 billion by the year 2029, as compared to the estimated value of USD 13.1 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 3.0% over the forecast period.

The marine engines market is propelled by a confluence of factors that influence demand for these powerful workhorses of the maritime industry. The ever-expanding global trade heavily relies on maritime transportation for efficient movement of goods across continents. This translates to a constant need for new vessels and consequently, a growing demand for marine engines of various capacities. Increasing international trade activities, particularly in emerging economies, necessitate the expansion of existing fleets and construction of new ships, further driving the demand for marine engines. Growing environmental concerns and stricter regulations on air and water pollution from maritime vessels are pushing the industry towards cleaner technologies. This creates a demand for new, more fuel-efficient engines that comply with emission regulations, such as those governing sulfur oxide (SOx) and nitrogen oxide (NOx) emissions. The focus on sustainability is leading to increased adoption of alternative fuels like Liquefied Natural Gas (LNG) and biofuels. This, in turn, fuels the development and demand for engines capable of operating on these cleaner fuel sources. Continuous advancements in marine engine technology are leading to the development of more efficient and powerful engines. This translates to reduced fuel consumption, lower operating costs for ship owners, and a smaller environmental footprint. As the maritime industry strives for efficiency and sustainability, marine engine manufacturers will continue to innovate and develop new technologies to meet the evolving needs of this crucial sector.

Browse 150 market data Tables and 100 Figures spread through 280 Pages and in-depth TOC on "Marine Engines Market - Global Forecast to 2029"

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Four stroke segment, by Type, to hold the second-largest market in marine engines market.

Four-stroke engines hold the second-largest market share in the marine engines market due to a compelling combination of advantages that cater to a wide range of vessel needs. Compared to traditional two-stroke engines, four-stroke engines offer superior fuel efficiency. This translates to significant cost savings for ship operators, especially for vessels undertaking long journeys or those with frequent stops and maneuvers.  In today's economic climate, fuel efficiency is a top priority, making four-stroke engines an attractive option. Four-stroke engines generate fewer pollutants like nitrogen oxides (NOx) and sulfur oxides (SOx) compared to their two-stroke counterparts. This characteristic aligns perfectly with the growing focus on environmental sustainability and stricter emission regulations in the maritime industry.  Four-stroke engines help ship owners comply with regulations in Emission Control Areas (ECAs) and contribute to cleaner air and water. Manufacturers are constantly innovating four-stroke engine technology. Advancements like common rail injection systems, electronic engine management, and dual-fuel capabilities (LNG or biofuels) are improving efficiency, reducing emissions, and offering more flexibility in fuel options. This positions four-stroke engines as a future-proof solution for the evolving needs of the maritime industry.

Marine gas oil segment, by Fuel, to be the fourth-largest market segment.

Marine Gas Oil (MGO) holds the fourth-largest market share in the marine engine fuel segment for several compelling reasons. MGO offers a good balance between power density and affordability, making it suitable for a wide range of vessel types. Smaller cargo ships and short-sea traders operating on regional routes or within coastal areas benefit from the efficient and readily available MGO compared to heavier fuel oils (HFO) that require more complex handling. MGO provides reliable and clean burning fuel for various fishing vessels and offshore service ships, catering to their operational needs without requiring the immense power output of HFO. MGO's cleaner burning properties contribute to reduced emissions around populated coastal areas and ports, making it a favourable choice for ferries and smaller passenger vessels where environmental concerns are crucial. MGO's widespread availability, applicability across various vessel types, role in regulation compliance for specific regions, and cost-effectiveness for certain routes contribute to its position as the fourth-largest market share holder in the marine engine fuel segment.  While it might be a transitional fuel source, MGO plays a significant role in the current maritime landscape.

Middle East & Africa to emerge as the third-largest marine engines market.

The Middle East & Africa (MEA) region nabs the third-largest market share in the marine engines market, driven by a confluence of factors specific to its geographical and economic landscape. The MEA region sits at a critical crossroads for global maritime trade.  The Suez Canal, a vital passage connecting the Red Sea and Mediterranean Sea, facilitates a significant portion of global seaborne trade. This strategic location necessitates a robust maritime infrastructure, including a large fleet of vessels requiring powerful engines. Economic growth within the MEA region has spurred a rise in intra-regional trade. This translates to a growing demand for smaller and medium-sized vessels equipped with efficient engines for navigating shorter routes within the region. The  MEA region is a major producer of oil and gas. This flourishing sector necessitates a growing fleet of offshore service vessels, platform supply ships, and crew transfer vessels.  These specialized ships rely on reliable and maneuverable engines to support exploration and production activities. Several governments within the MEA region are prioritizing investments in port infrastructure and maritime development. This includes creating new ports, expanding existing facilities, and attracting foreign investment in the maritime sector.  This focus on infrastructure development fuels the demand for new vessels and consequently, marine engines. The Middle East & Africa's position as the third-largest market share holder in the marine engines market stems from its strategic location, flourishing regional trade, government investments, and a mix of modern and aging fleets requiring new or replacement engines. The future of the market will likely witness an interplay between these factors and the adoption of cleaner technologies as the maritime industry strives for sustainability.

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Key Players

Key players in the global marine engines market include Caterpillar (US), Wärtsilä (Finland), Man Energy Solutions (Germany), Rolls-Royce Plc (UK), AB Volvo Penta (Sweden), HDHyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Heavy Industries, Ltd. (Japan), Cummins Inc. (US), Daihatsu Diesel Mfg. Co., Ltd. (Japan), and Deutz AG (Germany).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Hydrogen Generation Market Witness Robust Expansion By 2028 With Prominent Key Players: Air Liquide, Linde plc, Shell plc

According to a research report, the global hydrogen generation market is projected to reach USD 257.9 billion by 2028 from an estimated USD 158.8 billion in 2023, at a CAGR of 10.2% during the forecast period. The growing emphasis on environmental sustainability, rising adoption of fuel cell vehicles, and intermittent renewable energy integration accelerate the growth of the hydrogen generation market.

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This report segments the hydrogen generation market based on application into six categories: petroleum refinery, transportation, ammonia production, methanol production, power generation and others. Petroleum Refinery is expected to hold the largest market share in the hydrogen generation market during the forecast period. The rising demand for hydrogen in petroleum refineries can be attributed to the exceptional characteristics of hydrogen, which are essential for a variety of applications within hydrocarbon processing units. Hydrogen is a key component in various desulfurization processes such as  Hydrodesulfurization and catalytic Reforming used in petroleum refineries to meet environmental regulations and reduce the sulfur content in crude oil and its derivatives are the factors that are expected to drive the growth of the petroleum refinery segment during the forecast period.

Based on the Source segment, the hydrogen generation market is segmented into blue hydrogen, gray hydrogen and green hydrogen. The green hydrogen segment is expected to dominate the market during the forecast period as green hydrogen is an environmentally friendly energy source. Green hydrogen is inherently intertwined with the principles of sustainability, making it a vital component of efforts to mitigate environmental impact. By harnessing renewable energy sources like wind and solar power for its production, green hydrogen plays a pivotal role in minimizing carbon emissions and advancing the transition towards cleaner energy.

Based on the technology, the generation market is segmented into steam methane reforming, partial oxidation, coal gasification, auto thermal reforming, and electrolysis. The electrolysis segment is expected to be the fastest growing market during the forecast period owing to the low carbon emission compared to other methods and high purity. Electrolysis technology is highly versatile and environmentally friendly as compared to other technologies, which is expected to drive the growth of the electrolysis segment in the forecasted period.

This report segments the hydrogen generation market based on region into North America, Europe, Asia Pacific, South America, Middle East, and Africa . During the forecast period, the Europe segment holds the second highest CAGR due to adoption of hydrogen fuel cell vehicles in the region. According to  European Council for an Energy Efficient Economy (ICEEE), The European Union (EU) set a target of 30 million zero emission vehicles by 2030.

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Asia Pacific is expected to be the fastest-growing region in the hydrogen generation market.

Asia Pacific is expected to be the fastest growing region in the hydrogen generation market during the forecast period. The Asia Pacific region comprises major economies such as China, Japan, India, Australia, and South Korea. The hydrogen generation market in Asia Pacific is primarily fueled by the increasing number of petroleum refineries and usage of hydrogen in these refineries. Asia Pacific is one of the leading markets for adopting green technologies to meet the government targets for reducing GHG emissions. Japan and South Korea have been heavily investing in fuel cell adoption since 2009 because of the commercial deployment of Japanese fuel cell micro-CHP products. Japan is the first nation to commercialize fuel cells and is supporting projects related to the use of fuel cells in residential and automotive applications. It aims to deploy green hydrogen on a large scale. The country plans to have 200,00 green hydrogen fuel cell vehicles and 320 hydrogen refueling stations by 2025 to meet the global carbon emission standards.

Key Market Players

Some of the major players in the hydrogen generation market are Air Liquide (France), Linde plc (Ireland), Air Products and Chemicals, Inc. (US), Shell plc (UK), and Saudi Arabian Oil Co. (Saudi Arabia). The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

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Americas Cables Market Size, Growth Insight, Trends and Forecasts to 2029

According to a research report "Americas Cables Market by Polymer and Insulation Type (Semiconducting polymer, XLPE, EPR, HEPR, low Voltage Cables), Semiconducting Layer (Inner & Outer Semiconducting layer), Application, Voltage, End User & Region – Global Forecast to 2029" published by MarketsandMarkets, the Americas Cables market is projected to reach USD 10.9 billion by 2029 from an estimated USD 8.7 billion in 2024, at a CAGR of 4.5% during the forecast period.

 

The Americas Cables Market is seeing strong expansion, driven by a variety of segments. The insulation and polymer types such as HEPR, EPR/EPDM, XLPE, and semiconducting polymer guarantee improved cable performance, safety, and dependability at various voltage levels. In order to address the increasing need for power distribution and communication networks, low-voltage cables serve both the residential and commercial sectors. Using these cables—underground or underwater—ensures effective and dependable transmission, assisting with the development of infrastructure and renewable energy initiatives. Additionally, the integration of renewable energy sources, grid modernization, and industrial growth are driving up demand for cables, including those rated up to 138 kV.  The demand for innovative cable solutions is being driven by the industrial, commercial, and renewable energy sectors, which are important end-users that support economic growth, sustainability, and energy transition activities in the Americas.

 

Browse 214 market data Tables and 73 Figures spread through 281 Pages and in-depth TOC on "Americas Cables Market – Global Forecast to 2029"

 

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Up to 5 kV, by voltage, is expected to be the fastest-growing segment during the forecast period.

 

Based on voltage, the Americas Cables market has been split into up to 5 kV, 5-8 kV, 8-15 kV, 15-35 kV, 35-46 kV, 69 kV, 115 kV, and 138 kV. The up to 5 kV cables are versatile, and used in both power distribution and specific industrial applications. They are suitable for energy supply in commercial buildings, industrial plants, and infrastructure projects, where moderate voltage and power are required. Additionally, compared to higher voltage cables, up to 5 kV cables are more cost-effective in terms of installation, maintenance, and operation. This makes them a preferred choice for projects with budget constraints that still require reliable power distribution.

 

The outer semiconducting layer segment, by semiconducting layer, is expected to be the second-fastest segment during the forecast period.

 

This report segments the Americas Cables market based on the semiconducting layer into the inner semiconducting layer and outer semiconducting layer. Improved cable performance and safety are the primary drivers of market growth for the outer semiconducting layer in the semiconducting layer segment of the Americas Cables Market. By ensuring a consistent distribution of the electric field, this layer lowers the chance of insulation failure and electrical stress concentrations. It fits the strict criteria of industries like energy, telecommunications, and transportation by enhancing cable longevity and dependability, which greatly contributes to the rising need for sophisticated cable solutions in the area.

 

South America is expected to be the second largest region in the Americas Cables market.

 

South America's growing infrastructure spending, urbanization, and industrialization drive the growth of the Americas Cables Market. The demand for cutting-edge cable solutions is fueled by the region's emphasis on renewable energy projects, such as wind and solar farms. Market expansion is also aided by growing business sectors and the requirement for dependable electricity delivery in densely populated areas. The need for high-performance cables is fueled by modernization efforts and South America's changing energy landscape, which promotes the region's economic growth.

 

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Some of the major players in the Americas Cables market are Prysmian Group (Italy),  Southwire Company, LLC (US), Nexans (France), LS Cable & System Ltd (South Korea) and NKT a/s (Denmark). The major strategies adopted by these players include sales contracts and agreements.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

 

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

 

Contact:  

Mr. Aashish Mehra 

MarketsandMarkets™ INC. 

630 Dundee Road 

Suite 430 

Northbrook, IL 60062 

USA : 1-888-600-6441

 newsletter@marketsandmarkets.com

Hydrogen Storage Tanks and Transportation Market Outlook 2024 – Huge Growth, Trends, Revenue And In-Depth Analysis 2030

According to a research report "Hydrogen Storage Tanks and Transportation Market by Modular Storage (Fuel Storage, Distribution Systems), Application (Vehicles, Railways, Marine, Stationary Storage, Trailers), Tank Type (Type 1, 2, 3, 4), Pressure and Region - Global Forecast to 2030" published by MarketsandMarkets, the global Hydrogen Storage Tanks and Transportation Market is projected to reach USD 4.4 billion by 2030 from an estimated USD 0.3 billion in 2024, at a CAGR of 52.4% during the forecast period.

 

The global hydrogen storage tanks and transportation market is anticipated to grow at a higher level. There are various drivers responsible for the growth of the market such as the government policies and incentives and technological advancements among others. Government policies that encourage renewable energy and reduce carbon emissions, such as subsidies, grants, tax credits, and regulatory frameworks, are critical in encouraging the rise of hydrogen storage tanks and transportation. These incentives promote investment in hydrogen infrastructure, such as storage facilities and transit networks. Continuous improvements in hydrogen storage technologies, such as better tank materials, innovative storage methods (e.g., metal hydrides, chemical hydrogen storage), and improved compression techniques, all help to boost storage capacity, efficiency, and safety. Technological advancements enable the creation of more dependable and cost-effective hydrogen storage technologies, hence propelling market expansion.

 

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200 to 500 bar, by pressure, is expected to be the fastest segment during the forecast period.

 

Hydrogen storage systems with pressures ranging from 200 to 500 bar are excellent options for balancing supply and demand changes in renewable energy systems and stabilizing grid operations. Hydrogen storage's adaptability makes it suited for grid-scale energy storage applications, which helps to drive market growth. Increased integration of renewable energy sources, such as solar and wind power, with electrolysis allows for the creation of green hydrogen.

 

The increased interest in zero-emission transportation alternatives, along with developments in fuel cell technology, is driving the market for hydrogen-powered FCVs. The 200-500 bar pressure range is ideal for storing hydrogen on board FCVs, providing enough range and recharging ease, hence contributing to the segment's growth.

 

The Type 4, by type, is expected to be the Fastest segment during the forecast period.

 

Amidst the worldwide transition to renewable energy sources like hydrogen and compressed natural gas (CNG), the need for effective storage solutions is escalating. Type 4 tanks stand out due to their superior storage capacity, durability, and safety features, making them the favored option for storing alternative fuels. With governments and industries globally pledging to slash carbon emissions, the uptake of Type 4 tanks is projected to soar across sectors such as automotive, aerospace, and energy generation.

 

Asia Pacific is expected to be the largest region in the hydrogen storage tanks and transportation market.

 

Countries such as China, Japan, and South Korea are experiencing fast urbanization and industrialization, boosting demand for clean and sustainable energy solutions. Hydrogen storage tanks and transportation networks are viewed as critical components of attempts to minimize pollution and reliance on fossil fuels in densely populated cities. Domestic and foreign firms are making strategic investments in hydrogen infrastructure projects, research, and development, which is driving market growth. Partnerships among governments, industry stakeholders, and research institutions are driving innovation and hastening the commercialization of hydrogen storage and transportation systems.

 

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Key Players

Some of the major players in the Hydrogen Storage Tanks and Transportation Market are Hexagon Purus (Norway), Worthington Enterprises (US), Plastic Omnium (France), Tenaris (US), and Luxfer Holdings PLC (England). The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.

 

About MarketsandMarkets™

MarketsandMarkets™ has been recently recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

 

Founded in 2009, MarketsandMarkets recognized uncharted business potentials within disruptive trends, forecasting a surge of $25 trillion in new B2B revenues by 2030. In our 13-year journey, we've collaborated with over 10,000 companies, generating $140+ billion in revenue impact. From a market research publisher, we've transformed into a growth-enabling leader, backed by a 1500+ strong team.

 

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USA : 1-888-600-6441

Waste Management Market Size, Share, Trends and Future Growth Predictions till 2029

According to a research report "Waste Management Market by Waste Type (Hazardous Waste, E-Waste, Municipal Solid Waste, Medical Waste, Construction & Demolition, Non-Hazardous Industrial Waste), Disposal (Open Dumping, Incineration/Combustionl), Source & Region - Global Forecast to 2029" published by MarketsandMarkets, the global Waste Management Market is projected to reach USD 1598.1 billion by 2029 from an estimated USD 1219.6 billion in 2024, at a CAGR of 5.6% during the forecast period.

Waste management is an important process that includes the collection, transportation, disposal, and recycling of waste materials. Effective waste management is critical to ensuring environmental sustainability, public health, and resource conservation. Sustainable waste management practices not only help in reducing pollution but also create opportunities for economic growth through the development of recycling industries and job creation in the waste management sector. Proactive government actions, technical improvements, and an increase in e-waste output are all key drivers of this expansion. Waste Management, Suez, Veolia, and others are major players in the waste management market, with methods such as corporate development and alliances being implemented to improve services.

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Non-Hazardous Industrial Waste, by waste type is expected to be the largest segment during the forecast period.

Based on waste type, the waste management market is categorized into six categories: Hazardous Waste, E-Waste, Municipal Solid Waste, Medical Waste, Construction & Demolition, Non-Hazardous Industrial waste. The Non-Hazardous Industrial waste  is expected to be the largest segment. Non-Hazardous Industrial waste encompasses materials that become unusable during manufacturing processes in sectors like factories, mills, and mining. This waste can be solid, semi-solid, or liquid, containing substances such as dirt, gravel, concrete, scrap metal, oil, chemicals, and even organic matter from restaurants. Globally, Non-Hazardous industrial waste production is significant, with the US generating an estimated 7.6 billion tons annually, ranking first globally followed by China. Developing countries like China see a rise in industrial waste generation, while countries like India witness increasing demand for waste management services.

Recycling , by Disposal method, is expected to be the fastest growing segment during the forecast period.

Based on the Disposal method, the waste management market is segmented into six categories: Open Dumping, Incineration/Combustion, Landfill, Recycling, Composting & Anaerobic Digestion. Recycling is the fastest growing segment by disposal method. Recycling is the process of collecting and processing materials that would otherwise be thrown away as trash and turning them into new products. Recycling is crucial for managing waste sustainably. It helps save resources, reduce pollution, and create jobs. By recycling materials like paper, plastic, and glass instead of throwing them away, it helps to conserve energy, cut down on greenhouse gas emissions, and protect the environment. Recycling also supports the economy by generating income from selling recycled materials and encouraging innovation. The key advantages of recycling and recovery are reduced quantities of disposed waste and the return of materials to the economy. In many developing countries, informal waste pickers at collection points and disposal sites recover a significant portion of discards.

North America is expected to be the largest region in the waste management market.

The dense population and rapid urban development in the area result in a notable volume of waste from residential, commercial, and industrial activities. This situation necessitates the implementation of comprehensive waste management systems and infrastructure. Moreover, the United States, being the largest contributor to waste due to its population size, generates a significant portion of the world's municipal solid waste. In North America, the waste management sector benefits from efficient industrial waste management techniques, an increasing focus on environmental cleanliness, and the primary industrial sectors such as electricity, pharmaceuticals, and oil and gas, which are major consumers of waste management services. Stringent government regulations in the U.S. and Canada have spurred the collection and disposal of industrial waste, further stimulating the waste management industry in the region. It has headquarters of many big waste management companies such as WM Intellectual Property Holdings, L.L.C. (US), Republic Services (US) & Waste Connections (US).

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Key Players

Some of the major players in the waste management market are WM Intellectual Property Holdings, L.L.C. (US), Suez (France), Veolia (France), Republic Services (US) & Waste Connections (US) are the market leaders in the Waste management market. The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Recloser Market Size by Type, End-use Industry and Forecast 2030

According to a research report "Recloser Market by Phase (Three-phase, Single-phase, and Triple Single-phase), Control Type (Electronic and Hydraulic), Voltage Rating (Up to 15 kV, 16-27 kV, and 28-38 kV), Insulation Medium (Oil, air, and epoxy) Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for recloser is projected to reach approximately USD 1.5 billion by the year 2030, as compared to the estimated value of USD 1.1 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 5.0% over the forecast period.

The recloser market is experiencing a surge driven by a confluence of factors. Aging grid infrastructure across the globe necessitates upgrades for improved reliability and to prevent outages. Reclosers offer a cost-effective solution for enhancing protection in specific sections of the power grid. Additionally, the focus on grid modernization aligns perfectly with the capabilities of reclosers. These automated devices provide fault isolation and protection, contributing to a more efficient and reliable grid. Furthermore, the increasing penetration of renewable energy sources like solar and wind requires robust grid integration solutions. Reclosers can effectively manage the inherent variability of renewable generation and ensure overall grid stability. Finally, a growing emphasis on environmental considerations is pushing the market towards sustainable recloser technologies. Solid dielectric reclosers, for instance, are gaining traction due to their eco-friendly nature, shaping the future of the recloser market.

Browse 281 market data Tables and 64 Figures spread through 288 Pages and in-depth TOC on "Recloser Market - Global Forecast to 2030"

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Triple Single-phase segment, by phase, to be third-largest market.

Triple single-phase reclosers occupy a unique position within the recloser market, catering to specific applications in medium voltage distribution networks. Unlike traditional three-phase reclosers that operate on all three phases simultaneously, triple single-phase reclosers function as three independent single-phase reclosers housed within a single unit. They can isolate faults on individual phases without interrupting the flow of power on healthy phases. This minimizes outage durations for customers unaffected by the fault. Triple single-phase reclosers currently hold a relatively small market share compared to three-phase reclosers. Their niche application and potentially higher cost per unit compared to three-phase options contribute to this limited presence. However, specific factors could influence future growth. As demand for consistent and reliable power supply grows, the ability of triple single-phase reclosers to minimize outage durations on healthy phases becomes increasingly attractive. Their potential integration with smart grid automation systems for remote monitoring and control could enhance their appeal. Manufacturers focusing on cost reduction strategies and highlighting the long-term benefits of improved power quality and reduced outage durations could broaden the market for triple single-phase reclosers. Clearer industry standards and supportive regulations promoting the use of these reclosers in specific applications could influence their adoption by utilities. Triple single-phase reclosers offer a valuable solution for targeted fault isolation and improved power quality in specific scenarios. While their current market share is modest, their potential for growth hinges on cost competitiveness, industry acceptance, and the evolving needs of the power grid, particularly in the context of distributed generation and smart grid integration.

 

Air segment, by insulation, to be second-largest and second-fastest market.

Air-insulated reclosers (AIR reclosers) are emerging as a promising alternative in the recloser market, driven by a growing focus on environmental sustainability. Air insulated reclosers, as the name suggests, utilize air as the insulating medium, eliminating the environmental concerns associated with mineral oil used in traditional oil-insulated reclosers (OIL reclosers) or SF6 gas employed in some switchgear alternatives. Similar to other recloser types, Air insulated reclosers function as automatic circuit interrupters. They detect faults on the power line, interrupt the current flow using air to extinguish the arc, and attempt to re-energize the line after a pre-programmed sequence. This functionality helps clear temporary faults while isolating persistent ones. While still under development and gaining traction, air insulated reclosers are envisioned for similar applications as OIL reclosers in medium voltage distribution networks, potentially including distribution feeders and overhead lines. AIR reclosers are a relatively new technology compared to OIL reclosers or even solid dielectric reclosers. This translates to a smaller market share currently. However, the environmental benefits and potential cost-competitiveness in the long run could propel significant growth. Growing environmental regulations and the push for sustainable solutions are creating a favorable landscape for AIR reclosers. Utilities increasingly seeking eco-friendly technologies are likely to find them attractive. air-insulated reclosers represent a promising step towards sustainable medium voltage distribution. Their future growth depends on overcoming limitations through technological advancements while leveraging their environmental benefits to gain wider acceptance within the evolving recloser market.

North America to emerge as the second-largest recloser market.

The North American recloser market is experiencing a surge, driven by several key factors. A significant portion of North America's power grid infrastructure is aging and requires upgrades to ensure reliability and prevent outages. Utilities across North America are actively investing in grid modernization initiatives to improve efficiency, reliability, and integrate renewable energy sources. Consumers and businesses are increasingly reliant on a consistent and reliable power supply. Reclosers can help minimize voltage sags and momentary interruptions, improving overall power quality for end users. The North American recloser market is expected to witness continued growth in the coming years. The US, in particular, is anticipated to hold the highest market share due to its extensive aging grid infrastructure and ongoing grid modernization efforts. The increasing adoption of distributed generation, such as rooftop solar panels, is also creating new opportunities for reclosers in managing fault currents associated with these sources. The North American recloser market is a fragmented market with established global players and regional participants vying for market share. International companies like ABB, Eaton, Schneider Electric, and Siemens hold a strong presence in the market, offering a variety of recloser solutions. North American companies like S&C Electric, GE, Hubbell, and Hughes Power Systems are also significant players, catering to specific regional needs and regulations. The North American recloser market presents a robust and exciting space. With a focus on grid modernization, sustainability, and advanced functionalities, the market is poised for continued growth. The competitive landscape will likely be shaped by innovation, cost-effectiveness, and the ability of companies to cater to the evolving needs of the North American power grid.

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Key Players

Key players in the global recloser market include Schneider Electric (France), Eaton (Ireland), ABB (Switzerland), General Electric (US), Siemens (Germany), NOJA Power Switchgear Pty Ltd (Australia), Hubbell (US), S&C Electric company (US), Tavrida Electric (US), ENTEC Electric & Electronic (South Korea), Arteche Group (Spain), and ILJIN ELECTRIC (South Korea).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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

North America's Growing Appetite for Small Modular Reactors Market

According to a research report, the Small Modular Reactor Market is estimated to be USD 5.8 billion in 2023 to USD 6.8 billion by 2030, at a CAGR of 2.3% during the forecast period. The factors that drive the market growth include versatile nature of nuclear power and modularization of SMRs. SMRs offer the potential for improved economics. Their smaller scale and standardized designs can lead to cost savings in manufacturing, construction, and maintenance. The modular nature of SMRs enables phased deployment, reducing upfront capital costs and allowing for incremental capacity expansion based on demand.

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According to the World Nuclear Association, “Small modular reactors (SMRs) are defined as nuclear reactors generally 300 MWe equivalent or less, designed with modular technology using module factory fabrication, pursuing economies of series production and short construction times”. SMRs vary in terms of size and thermal output. These reactors can be used for various applications, such as power generation, process heating, desalination, and industrial uses. Their designs may employ light water as a coolant or other coolants, such as gases, liquid metals, or molten salts.

Small modular reactors (SMRs) are being deployed in the US to address key challenges faced by traditional nuclear power plants. SMRs offer advantages such as smaller physical footprints, reduced capital investment, and the ability to be sited in locations not possible for larger nuclear plants. Compared to traditional nuclear power plants, these reactors are designed to be easier to build, more cost-effective, and safer to operate. The US Department of Energy has supported the development of SMRs to accelerate their availability in domestic and international markets, aiming for deployment by the late 2020s to early 2030s. The recent approval of NuScale Power's SMR design by the Nuclear Regulatory Commission marks a significant milestone in the US nuclear innovation system, highlighting the potential for SMRs to provide clean, reliable baseload power and enhance energy security and environmental sustainability.

The key stakeholders in the SMR market are component manufacturers, SMR manufacturers, SMR support services providers/integrators, and end-users. The component manufacturers of SMRs offer components such as reactor cores, steam generators, reactor pressure vessels, containment vessels, and fuel assemblies. Meanwhile, Westinghouse Electric Company LLC (US), NuScale Power, LLC. (US), Terrestrial Energy Inc. (Canada), Moltex Energy (Canada), and GE Hitachi Nuclear Energy (US) are the top players in the SMR market and have a strong presence in the US. All these and other players have been deploying several projects due to the advantages these reactors offer over traditional nuclear power plants. For instance: GE Hitachi Nuclear Energy (GEH), Ontario Power Generation (OPG), SNC-Lavalin, and Aecon have signed a contract for the deployment of a BWRX-300 small modular reactor (SMR) at OPG’s Darlington new nuclear project site. This was the first commercial contract for a grid-scale SMR in the North American region.

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Along with the deployment of projects, several companies have been implementing various technological advancements in SMR technologies that demonstrate a commitment to enhancing safety, efficiency, and sustainability in nuclear energy production through innovative design, manufacturing processes, and fuel development, such as:

1.       Implementation of remote monitoring technologies to improve performance of small modular reactors: Companies have adopted remote monitoring technologies and autonomous operations, which are expected to result in better field communication, reduction in maintenance costs and power consumption, real-time monitoring of electrical signals, and digitalization of nuclear power infrastructure.

2.       Advanced Reactor Designs: The United States is developing cutting-edge advanced reactor designs that are versatile, cost-effective, and can be paired with renewable energy sources. For example, NuScale Power's SMR features a passive safety cooling system that enhances safety by making the reactor walk-away safe without operator intervention.

3.       Advanced manufacturing: There is a shift towards advanced manufacturing techniques in building SMR technologies. Projects like additive manufacturing (3D printing) are used to create complex designs for nuclear components, reducing time and costs for bringing new fuels and components to market.

4.       Advanced fuels: New fuels are being developed to operate more efficiently at higher temperatures. Efforts are underway to design and submit license applications for advanced fuel fabrication facilities like TRISO-X fuel fabrication facility by X-energy. These fuels are resistant to extreme temperatures, enhancing the performance of advanced reactors.

5.       Accident-tolerant fuels: Companies like General Electric's Global Nuclear Fuel (GNF), Framatome, and Westinghouse are collaborating with the Department of Energy to introduce new accident-tolerant fuels within the next decade. These technologies aim to improve the safety and performance of nuclear fuels for existing reactors.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

 

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com