Global Wind Turbine Protection Market Expected to See Significant Growth by 2029

 The wind turbine protection market is forecast to reach USD 2.8 billion by 2029 from an estimated USD 1.7 billion in 2024, at a CAGR of 10.5% during the forecast period (2024-2029).

Wind turbine protection are primarily used to protect the turbines from factors like lightning strikes, high winds, and extreme temperatures. Wind turbine protection keeps turbines functional, protects investments, safeguards workers and wildlife, and contributes to a stable and reliable power grid.

Key Market Players

Some of the major companies in this market include BASF SE (Germany), 3M (US), Akzo Nobel N.V. (Netherlands), Trelleborg AB (Sweden), Hempel A/S (Denmark).

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This report segments the wind turbine protection market based on four equipments: Blades, Nacelle, Tower and Others. The Blades in the wind turbine protection market is expected to be the second fastest, because the blades are a critical focus area for the wind turbine protection market, as safeguarding the blades through coatings, tapes, and regular maintenance is crucial to optimizing turbine performance and extending operational lifespans.

This report segments the wind turbine protection market based on protection type into two segments: Coatings, Tapes & Films. The Tapes & films in the wind turbine protection market is expected to be the second fastest, because Tapes can be easily applied in both factory and field settings, providing a consistent and reliable solution for blade protection. They are designed for simple application via rope or platform access.

This report segments the wind turbine protection market based on end user into two segments: onshore and offshore. The offshore in the wind turbine protection market is expected to be the second fastest due to the Increasing energy demand, depletion of onshore reserves and technological advancements. The Wind Turbine Protection market for offshore installations is increasingly due to exposure to harsh marine conditions, including saltwater corrosion, high humidity, and strong winds.

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The wind turbine protection market is experiencing growth due to the need to protect wind turbines from environmental factors like climate change. The rising energy demand causes increasing energy consumption mostly in the emerging markets, which further drives the need for more effective and efficient techniques to meet the demand. Continuous improvements in materials, manufacturing processes, and monitoring technologies are enabling wind turbines to operate effectively for longer periods with proper protection and refurbishment.

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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.

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Fuel Cell Industry Is Expected to Generate Huge Profits by 2023-2028

 The global fuel cell industry is projected to reach USD 8.7 billion by 2028 from an estimated USD 3.3 billion in 2023, at a CAGR of 21.7% during the forecast period.

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The small scale, by size, is expected to be the largest segment during the forecast period.

This report segments the fuel cell market based on size into two segments: small scale (up to 200 kW) and large scale (above 200 kW). The small-scale (up to 200 kw) segment is expected to be the largest segment during the forecast year. Fuel cells with power capacities up to 200 kW find applicability in residential and small-scale commercial settings, serving diverse purposes. These versatile systems are well-suited for deployment in backup power systems, where they ensure a reliable and continuous energy supply during outages. Additionally, they prove valuable in combined heat and power (CHP) units, simultaneously generating electricity and useful heat for enhanced efficiency in heating applications. Moreover, these fuel cells contribute to the development of microgrid installations, providing localized and decentralized energy solutions that enhance energy resilience and sustainability at a community level.

Fuel Cell Industry Ecosystem

The balance of plant, by component, is expected to be the largest segment during the forecast period.

This report segments the fuel cell market based on components into two segments: stack and balance of plants. The balance of the plant segment is expected to be the largest segment during the forecast year. The balance of plant components is crucial for the operations and efficiency of fuel cells. The enhancements in the balance of plant components are pivotal for elevating the holistic performance, robustness, and cost efficiency of fuel cell vehicles. Notably, breakthroughs in the design and functionality of air and fuel supply systems have emerged as key catalysts in augmenting the efficiency of fuel cell stacks, thereby contributing substantially to the overall efficacy of these vehicles.

Hydrogen, by fuel, is expected to be the largest segment during the forecast period.

This report segments the fuel cell industry based on fuel into five segments: hydrogen, ammonia, methanol, ethanol and hydrocarbon. The hydrogen segment is expected to be the largest segment during the forecast year. Hydrogen fuel cells generate electricity by means of the electrochemical interaction between hydrogen and oxygen, resulting in water as the sole emission. This method is eco-friendly, as it involves no release of greenhouse gases or pollutants during its operational phase. Hydrogen fuel cells find application in diverse industries for stationary power generation, serving as a dependable and effective electricity source. Commonly employed in remote areas or as backup power systems, they contribute to a stable and efficient energy supply.

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Asia Pacific is expected to be the largest region in the fuel cell industry.

Asia Pacific is expected to be the largest fuel cell industry during the forecast period. Governments in countries like Japan, South Korea, and China are proactively championing the advancement and integration of fuel cell technology as a pivotal component of their strategies to mitigate carbon emissions and foster the adoption of sustainable energy solutions particularly in Japan and South Korea have made substantial investments in fuel cell technology, directing their efforts towards diverse applications such as transportation and stationary power generation.

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Instrument Transformers Industry Growth Analysis With Investment Opportunities For 2023-2028

The global instrument transformers industry is projected to grow from an estimated USD 7.1 billion in 2023 to USD  10.6 billion by 2030, demonstrating a CAGR of 5.8% during the forecasted period.

The global industry is poised for substantial growth during this period, primarily due to the development of power distribution infrastructure in response to the growing demand for electricity. Furthermore, the expansion of renewable energy-based capacity, increased investments in industrial production, and government initiatives for grid modernization are likely to drive the demand for instrument transformers.

Key Market Players
Key players in the global instrument transformers industry include ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), and Mitsubishi Electric (Japan).

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Current transformers segment, by type, to occupy the majority of instrument transformers market share. 

Current transformers occupy 48.7% of the market share for the year 2023. Current transformers are widely used in a variety of industries, including electricity utilities and commercial facilities. Their adaptability makes them ideal for measuring and monitoring electrical currents in a variety of environments. Current transformers are critical components of power systems for monitoring and controlling the grid. They precisely monitor current flow, giving critical information for analyzing the health and operation of the electrical grid. This skill is critical for keeping the grid stable and avoiding interruptions. Current transformers improve power quality by monitoring and adjusting current levels. Maintaining the quality of electrical power is critical for the efficient and dependable functioning of electrical systems. These are the potential reasons that are propelling the growth of current transformers in the market.

Outdoor segment, by enclosure type, to be the largest market.

Outdoor transformers are built to survive severe temperatures, humidity, and exposure to the weather. Because of their robustness, they can be deployed outside without reducing performance. These transformers are easier to construct than indoor transformers since they don't require specific interior infrastructure. This simplicity of installation helps to faster deployment and less downtime throughout the installation process. The external enclosure style allows for greater flexibility in grid layout and extension. These transformers are strategically deployed around the system to improve scalability and responsiveness to changing power distribution needs.

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Asia Pacific to emerge as the largest instrument transformers market.

Ongoing enhancements in instrument transformer technologies improve their performance, reliability, and efficiency, drawing acceptance in the Asia Pacific market for updated power infrastructure. The growing use of renewable energy sources demands the use of modern instrument transformers to handle the various and intermittent nature of renewable power generation. China is the largest market for Asia-Pacific transformers, followed by India and Japan, due to increased power consumption and the construction and connection of renewable energy sources to the country's grid.

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.

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MarketsandMarkets Inc.
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Produced Water Treatment Market Size Growing with Healthy CAGR by 2029

According to a research report "Produced Water Treatment Market Size - Global Forecast to 2029", size is forecast to reach USD 13.4 billion by 2029 from an estimated USD 10.7 billion in 2024, at a CAGR of 4.7% during the forecast period (2024-2029).

Produced water, which is a byproduct of oil and gas exploration process, requires active treatment to meet environmental regulations and helps in reuse or safe disposal. This produced water is a mixture of injected water, Natural formation water, and any other chemicals used in the exploration and drilling process.
​

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Key Market Players

SLB (US),

Baker Hughes Company (US),

Siemens Energy (Germany),

Veolia Environnement SA (France),

TechnipFMC (UK) among others...

​
“Asia Pacific”: The fastest growing region

Asia Pacific is the fastest growing region in the produced water treatment market size owing to the region experiencing significant population growth and economic development, leading to a corresponding increase in energy demand. The region has vast untapped offshore reserves, particularly in Southeast Asia. Even though Asia Pacific Oil & gas production witnessed a decline during the pandemic years, it is expected to bounce back during the forecast period owing to growing investment in new projects and expansion of shale gas exploration. These are some of the factors that are augmenting the market growth in the region.

​This research report categorizes the Produced water treatment market size by Source, Application, Treatment, and region.​

On the basis of source:

• Conventional
• Unconventional​

On the basis of application:

1. Onshore
2. Offshore

On the basis of treatment:

• Primary treatment
• Secondary treatment
• Tertiary treatment

On the basis of region:

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

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By Source

Based on source, the market size has been split into Conventional and Unconventional. The Conventional segment in the produced water treatment market is anticipated to be the largest because it is experiencing rapid growth due to the increasing exploration and production activities. The conventional segment for produced water treatment is growing due to the increase in established oil and gas fields that require constant maintenance to remain effective.

​
By Application

Based on Application, the market size has been split into Onshore and Offshore. The Onshore segment in the produced water treatment market is anticipated to be the largest because the onshore drilling operations are generally less expensive compared to offshore projects. The onshore segment experienced considerable growth due to the cost advantages, technological advancements, better infrastructure, and increased exploration and production activities.

​By treatment type

This report segments the produced water treatment market size based on various treatment methods: Primary treatment, secondary treatment, and tertiary treatment. Tertiary treatment is expected to be the fastest growing segment during the forecast period due to the usage of advanced methods such as reverse osmosis and advanced oxidation. These processes provide high levels of impurities removal to make the treated water suitable for reuse as portable water as well as in industrial applications.

Progressing Cavity Pump Market Size Growth to Surge Owing to Increasing Adoption by End-use Applications

According to a research report "Progressing Cavity Pump Market Size by Power Rating (Up To 50 Hp, 51–150 Hp, Above 150 Hp), Pumping Capacity, End-User (Oil & Gas, Water & Wastewater Treatment, Food & Beverage, Food Waste, Biogas, Battery Recycling) and Region - Global Forecast to 2029", the Progressing cavity pump market is anticipated to witness a significant expansion, with the market size projected to reach approximately USD 3.6 billion by 2029, showcasing a Compound Annual Growth Rate (CAGR) of 5.0% from the estimated value of USD 2.8 billion in 2024.  The global market for progressing cavity pumps is indeed witnessing substantial growth, propelled by a multitude of factors that extend its influence across the world. Foremost among these drivers is the ongoing industrialization and urban expansion in emerging economies, which create a burgeoning demand for efficient fluid handling solutions across various sectors. This demand is particularly pronounced in industries such as oil and gas, water and wastewater treatment, food and beverage, chemicals, and mining, where progressing cavity pumps find extensive application due to their versatility and reliability. Additionally, the tightening of environmental regulations and increased emphasis on workplace safety are compelling industries worldwide to invest in advanced pumping technologies like progressing cavity pumps. These pumps not only offer superior performance but also boast environmental sustainability features, aligning with the global trend towards greener and more efficient industrial practices.

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Water & Wastewater Treatment, by end-user industry, to occupy majority of progressing cavity pump market share.

The water and wastewater treatment industry is poised to dominate the majority share of the progressing cavity pump market due to several key reasons. Firstly, with the global focus on environmental sustainability and the need for clean water sources, there is a growing demand for efficient fluid handling solutions in water and wastewater treatment facilities worldwide. Progressing cavity pumps are particularly well-suited for this industry due to their ability to handle a wide range of fluids, including viscous and abrasive materials, making them indispensable in various treatment processes such as sludge handling, chemical dosing, and filtration. Moreover, as population growth and urbanization lead to increased pressure on water resources and wastewater management systems, there is a heightened emphasis on upgrading and expanding existing treatment infrastructure. Progressing cavity pumps play a crucial role in these endeavors, offering reliable and efficient pumping solutions that help ensure the smooth operation of water treatment plants, sewage treatment facilities, and other related installations.

By Power rating, up to 50 HP segment is expected to be the largest market.

The up to 50 HP segment is anticipated to emerge as the largest market segment in the progressing cavity pump industry due to its versatility and applicability across a wide range of industries and applications. This power rating range caters to the needs of small to medium-sized operations, which constitute a significant portion of the market demand. Additionally, industries such as food and beverage, agriculture, and small-scale manufacturing often require lower horsepower pumps for their operations, driving the demand for progressing cavity pumps in this power range. Moreover, the compact size, lower initial cost, and relatively simpler maintenance requirements of pumps in the up to 50 HP segment make them highly attractive to a diverse range of end-users, further contributing to their market dominance.

Asia Pacific to emerge as the largest progressing cavity pump market.

The Asia Pacific region is poised to emerge as the largest progressing cavity pump market due to several key factors driving its rapid expansion. One primary driver is the region's robust industrial growth, fueled by burgeoning economies such as China, India, and Southeast Asian countries. As industrialization continues to accelerate in these nations, there is a heightened demand for efficient fluid handling solutions across a wide array of sectors including oil and gas, water and wastewater treatment, food and beverage, chemicals, and mining. Moreover, ongoing infrastructure development projects and urbanization further bolster the need for reliable pumping equipment, thereby stimulating market growth. Additionally, stringent environmental regulations and a growing emphasis on workplace safety propel industries to invest in advanced pumping technologies like progressing cavity pumps, which offer superior performance, reliability, and environmental sustainability. Furthermore, the presence of leading pump manufacturers and suppliers in the region, supported by robust research and development capabilities, ensures a steady supply of innovative and high-quality pumping solutions tailored to meet the diverse needs of Asia Pacific markets. With these factors combined, the Asia Pacific region is well-positioned to dominate the global progressing cavity pump market, showcasing significant growth potential in the coming years.

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Key Market Players
Key players in the global progressing cavity pump market include NETZSCH (Germany), SEEPEX (Germany), NOV (US), CIRCOR International (US), Schlumberger (US), and PCM (France).

Global Circuit Monitoring Market Size to experience strong headwind in 2028

According to a latest research, the global circuit monitoring market size is projected to reach USD 829 million by 2028 from an estimated USD 659 million in 2023, at a CAGR of 4.7% during the forecast period. Increasing number of data centers, and rising concern overpower stability for uninterrupted business operation is driving the market for Circuit Monitoring Market.

Key Market Players

The major players in the circuit monitoring market size are ABB (Switzerland), Schneider Electric (France), Eaton (Ireland), Toshiba International Corporation (Japan), and Legrand (Ireland).

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Strong growth from enterprise shift towards cloud applications, and huge investments, along with enforcement of stringent standards, to reduce carbon footprint in data centers . For instance, regulatory bodies and governments, such as the International Organization for Standardization, and American National Standards Institute, are imposing sustainability standards on newly built data center. These are the few major factors driving the circuit monitoring market growth.

This report segments the circuit monitoring industry based on type into two types: Modular circuit monitoring, and others. The others segment is expected to be the second fastest growing market during the forecast period. The others segment include branch circuit monitoring, and multi circuit monitoring. Both multi-circuit monitors and branch circuit monitors are compact and, hence, use lesser space as compared to traditional single-circuit energy meters. These are used by industries, data centers, and commercial and residential end users.

This report segments the market for  circuit monitoring based on end users into four segments: data centers, commercial, industrial, and residential. The data center segment is expected to be the fastest growing segment during the forecast period. The data centers segment is driven by the heightened adoption of circuit monitoring in data centers for remote monitoring and the determination of power usage effectiveness.

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Europe is expected to be the second largest circuit monitoring market during the forecast period. Commercial data center market is expanding at an unprecedented speed across Europe. The UK set Euro 400 million fast-track for government data centers for government offices and commercial sectors, also countries in this region are focusing on developing cloud technology and infrastructure. For instance, Emerson (US) rapidly deployed one of the t-systems' largest modular data centers in Europe to maximize the availability, capacity, and efficiency of critical infrastructure. These factors are expected to fuel the growth of the circuit monitoring market in the region.

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.

Contact:

Mr. Rohan Salgarkar

MarketsandMarkets Inc.

1615 South Congress Ave.

Suite 103, Delray Beach, FL 33445

USA: +1-888-600-6441

Email: newsletter@marketsandmarkets.com

Synchronous Generator Industry Expected to Witness the Highest Growth during 2023-2028

According to a latest research, The Synchronous Generator Industry has experienced robust growth in recent years, expanding from USD 4.7 billion in 2023 to USD 5.9 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. A synchronous generator, also called an AC generator or alternator, is an electromechanical energy conversion device that converts mechanical energy from sources such as engines and turbines into electrical energy in the form of alternating current (AC). It is called an alternator as it produces alternating current electricity, and a synchronous generator because it is necessarily driven at synchronous speed to generate electricity at the desired frequency.

Strong Future Growth Anticipated

The Synchronous Generator Industry is projected to continue its strong growth, reaching .9 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. Synchronous generators are essential in power plants for generating electricity on a large scale as they provide grid stability, high efficiency, voltage regulations and synchronization with the grid.

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The new technological advancements in synchronous generators is virtual synchronous generators (VSGs). Virtual synchronous generators (VSGs) are software-based models of synchronous generators that can be used in power systems to provide inertia and stabilize grid frequency. VSGs use advanced control algorithms to emulate the behavior of traditional synchronous generators, which have been used for decades to provide these grid-stabilizing services. However, VSGs are not physical machines and do not require physical components like rotors or stators. Instead, they can be implemented in power converters connected to renewable energy sources, such as wind turbines and solar panels, enabling these sources to contribute to grid stability in a way that was previously only possible with traditional synchronous generators

Growth Driver Of The Synchronous Generator Industry

The renewable energy segment by end user is expected to be the fastest growing segment of the synchronous generator market. Synchronous generators are widely used in hydroelectric power plants. Water turbines, driven by the force of flowing water or falling water, are coupled to synchronous generators to produce electricity. This setup is commonly used in large-scale hydroelectric projects. They are also frequently employed in wind turbines to convert the mechanical energy from the wind into electrical energy. Synchronous generators offer advantages in renewable power generation, such as stable frequency output, grid synchronization capability, and the ability to provide reactive power for grid stability.

The gas turbine segment by prime mover is projected to be the fastest growing segment of the synchronous generator industry. Gas turbine synchronous generators are known for their high efficiency in converting fuel energy into electricity. They can achieve higher thermal efficiencies compared to other types of generators, such as steam turbines. Gas turbine generators have relatively lower emissions compared to conventional coal-fired power plants. Modern gas turbines employ advanced combustion technologies, such as lean-burn and dry low NOx (DLN) systems, which significantly reduce nitrogen oxide (NOx) emissions.

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The 1,500 RPM segment by speed is projected to be the fastest growing segment of the synchronous generators market. Synchronous generators operating at 1,500 rpm are well-suited for low-speed prime movers such as slow-speed diesel engines or certain types of industrial turbines. These generators can be directly coupled with such prime movers without the need for additional gearing or speed control mechanisms, simplifying the system design and reducing maintenance requirements. Their smaller size and reduced weight result in lower material and manufacturing costs. Additionally, the use of low-speed prime movers, which are often more cost-effective than high-speed engines or turbines, contributes to overall cost savings.

In 2022, the Asia Pacific dominated the global synchronous generator industry, followed by North America & Europe. The region, by country, has been segmented into the China, India, Japan, Australia, South Korea, and Rest of Asia Pacific. China has been actively investing in wind farms and hydroelectric projects, which require synchronous generators for power generation. Additionally, China’s continuous industrialization and urbanization have increased electricity demand, driving the need for synchronous generators in various industries. India has a rapidly growing economy and a rising population, leading to increased energy demand. The country requires reliable and efficient power generation technologies, including steam and gas turbines, to meet this demand. India has been promoting the use of natural gas as a cleaner alternative to coal. This has led to the construction of gas-based power plants, where gas turbines synchronous generators play a crucial role. Japan has a diversified energy mix that includes both conventional and renewable sources. While the country aims to increase its share of renewable energy, it still heavily relies on thermal power generation, where steam and gas turbines are essential.

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Major players operating in the synchronous generator industry include ABB (Switzerland), WEG (Brazil), Siemens Energy (Germany), Meidensha Corporation (Japan),  and Andritz (Austria). These companies have reliable manufacturing facilities as well as strong distribution  networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share, products with wider applications, broader  geographical use cases, and a larger product footprint.

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 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 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. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com

Lithium Iron Phosphate Batteries Industry - Analyzing the Growth Drivers and Upcoming Trends

The global lithium iron phosphate batteries market is projected to reach USD 35.5 billion by 2028 from an estimated USD 17.7 billion in 2023, at a CAGR of 14.9% during the forecast period. The growing investments in building offshore wind farms will positively impact the lithium iron phosphate batteries market.

A lithium iron phosphate (LiFePO4) battery is a type of lithium-ion battery that charges and discharges at high speed. It uses lithium iron phosphate as the cathode and graphite as the anode. favorable government policies and the rapid development of EV charging infrastructure are consequently boosting the demand for LFP batteries.

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This report segments the lithium iron phosphate batteries market based on industry into: automotive, power, industrial, consumer electronic, aerospace, marine and others(telecommunication and medical). Industrial segment are expected to be the second largest market during the forecast period. The industrial segment primarily includes forklifts, mining equipments and construction equipments. This segment has a huge demand for equipment and tools for aiding smooth operations. The manufacturers of construction and mining equipment emphasize two major factors—environmental safety and durability. Hence, they are shifting to battery-based technology. Construction equipment include cutting machines, material handling vehicles, and pulley cranes. On the other hand, mining equipment include underground mobile equipment, LED flashlights, and remote haul trucks.

This report segments the lithium iron phosphate batteries market based on application into two categories: portable and stationary. The stationary segment is expected to be the second-largest segment during the forecast period. Stationary applications include power and industrial sectors. The demand for lithium iron phosphate batteries from the power sector refers to the battery-operated grid energy storage systems. Lithium iron phosphate batteries are considered most suitable for energy storage technology because of their declining cost, higher safety, and longer life cycle.

Key Market Players -

    BYD Company Ltd. (China),

    Contemporary Amperex Technology Co., Limited. (China),

    Gotion, Inc. (US),

    CALB (China),

    A123 Systems LLC (US) among others..

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Asia Pacific is expected to be the largest region in the lithium iron phosphate batteries market

Asia Pacific is expected to be the largest lithium iron phosphate batteries market during the forecast period. The Asia Pacific region, comprising major economies such as China, India, Japan, South Korea, and the Rest of Asia Pacific, which have a huge potential for several application areas within the lithium iron phosphate. In recent years, this region has emerged as a hub for automobile production. Recent infrastructure developments and industrialization activities in emerging nations have opened new avenues and opportunities for OEMs. Additionally, the increasing purchasing power of the population has stimulated the demand for automobiles, which would be a driving force for the growth of the lithium iron phosphate batteries market. Asia-Pacific region has a significant presence in the lithium-ion battery industry, both in terms of battery production and demand. Countries, particularly China, South Korea, and Japan, are major manufacturers of lithium-ion batteries. These countries have a well-established battery industry, with large-scale production facilities operated by companies such as BYD Company Ltd, CATL, CALB, LG Chem, and few other key players. They produce batteries for a wide range of applications, including electric vehicles, consumer electronics, and energy storage systems.

Small Modular Reactor Market Size Poised for Growth: Emerging Trends and Key Opportunities in 2030

The global small modular reactor market size is estimated to be USD 5.8 billion in 2023 and is projected to reach USD 6.8 billion by 2030, at a CAGR of 2.3% during the forecast period. Factors such as the versatile nature of nuclear power and the relative advantages of SMRs such as modularization and factory construction are enabling the growth of the market.

"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," according to the World Nuclear Association. The ability of SMRS to meet the requirements of flexible power generation for a wide range of applications, such as power generation, process heating, desalination, hydrogen production, industrial applications, and replacing ageing fossil fuel fired power plants, has increased demand for them.

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In 2022, the Asia Pacific dominated the global small modular reactor market, followed by Europe and Americas. The region, by country, has been segmented into the China, Japan, India, South Korea, and the Rest of Asia Pacific.  Due to the enormous number of SMR projects in China, Asia Pacific is a big contributor to the small modular reactor industry in the current environment. SMRs have the potential to replace coal- and other fossil-fuel-fired power stations in the region for power production and process heat applications, which will likely promote the expansion of the regional small modular reactor market.

The upto 100 MW segment by power rating is expected to be the third-largest growing segment of the small modular reactor market. The reactor unit can be built in a factory and delivered to the site of installation. Because of the modular construction, many SMR units can be deployed together to satisfy varied energy demands. A 100 MW SMR's major use is electricity generating. It may function as a stand-alone power plant, supplying clean and dependable electricity to cities, industries, and isolated regions. The excess heat generated by a 100 MW SMR can be used for district heating, which involves distributing thermal energy to surrounding residential, commercial, and institutional buildings for space heating and water heating.

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The gases segment by coolant is projected to be the fastest growing segment of the small modular reactor market. During operation, the gas-cooled reactor uses helium as a coolant medium, allowing it to be easily pressurized and maintain a stable high temperature, allowing for greater operational efficiency. Using gas as a medium in the reactor can prevent corrosion on the reactor's surfaces, reducing the need for maintenance. These operational advantages are propelling the gases segment forward. Graphite is used as a neutron moderator in gas-cooled reactors, and carbon dioxide gas is used as a coolant.

The light-water reactors segment by type is projected to be the fastest growing segment of the small modular reactor market. In 2022, the light water reactor category accounted for 40.6% of the small modular reactor market. These reactors, which use common water as a coolant, are the most widely used since they pose the fewest technological dangers. SMR designs based on LWR technology are similar to large-scale LWRs in use today. Such SMRS employ well-tested technologies and products with small and integrated components and higher passive safety measures over current big scale LWRS. Light-water SMRS have a better level of technological readiness than other SMB designs. Because traditional LWR technology is well-developed, these reactors provide fewer hurdles to present licencing processes. Most regulators are familiar with the technology, resulting in a relatively short learning curve for both regulatory bodies and designers in light water reactors. In the case of a Pressurised Water Reactor (PWR), this is done after the safety rods have been lowered and unlatched.

The hydrogen generation segment by application is projected to be the forth-largest growing segment of the small modular reactor market. Hydrogen is essential in a variety of industrial applications. It can help with the decarbonization of electricity and transportation by being used for energy storage or as a fuel for hydrogen fuel-cell cars, trains, ships, and aeroplanes. Hydrogen can be produced using the fast neutron reactor, molten salt reactor, and high-temperature reactor technologies. The type of reactor technology influences the choice of hydrogen technologies to be combined with the SMRS. Only electricity is required for a few hydrogen manufacturing systems, such as traditional electrolysis. In contrast, methods such as thermochemical cycles may just require process heat, whereas hybrid technologies, such as high-temperature steam electrolysis (HTSE) and hybrid thermochemical cycles, require both heat and electricity.

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Europe is expected to grow at the second-highest CAGR during the forecast period. Russia, the United Kingdom, France, and the rest of Europe are all considered in the European small modular reactor market. Italy, Luxembourg, Denmark, the Czech Republic, Sweden, Ukraine, Finland, Estonia, Poland, and Romania are included in the rest of Europe. Nuclear energy accounts for around 28.4% of the region's electricity generation mix, according to the BP Statistical Review of World Energy 2022. The region was responsible for 30.2% of global nuclear power usage. Investments in SMRS development, as well as a trend towards the usage of clean energy to address climate change, are expanding the potential for SMRS deployment in this region. For instance, the government dedicated USD 298 million to SMRS in 2021 as part of the UK Research and Innovation (UKRI) Low-Cost Nuclear (LCN) programme in November 2020. UKRI offered an initial match financing of USD 23 million to the UK SMR consortium lead by Rolls-Royce in November 2019 for the development of a conceptual SMR design. Rosatom (Russia) announced intentions to invest USD 7 billion in new nuclear technology by 2030 in June 2021.

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High Voltage Cables and Accessories Market to Witness A Phenomenal Growth by 2028

According to a research report, the high voltage cables and accessories industry is projected to reach USD 52.5 billion by 2028 from an estimated USD 40.0 billion in 2023, at a CAGR of 5.6% during the forecast period.​

High voltage cables and accessories are essential as they facilitate the efficient and reliable transfer of electricity from power plants to power utilities, renewables and industries over long distances. It offer insulation and protection to prevent electrical leakage and reduce power losses. Accessories are essential components utilized to establish secure connections and maintain the seamless flow of power, ensuring the integrity of the system.​

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The power utilities, by end user, is expected to grow be the largest segment during the forecast period.

​Based on end user, the market has been split into power utilities, renewables, and indusrials. The power utilities segment is anticipated to be the largest during the forecast period. Power utilities industry is growing in high voltage cables and accessories market because of rising demand for electricity due to industrialization, urbanization, population growth etc. It is also growing due to factors like renewable energy integration, grid modernization, infrastructure expansion, and advancements in cable technology.

This research report categorizes the high voltage cables and accessories industry by component, power source, application, and region.

On the basis of by product type:

• Cables
  • XLPE Cables (Cross-linked Polyethylene)
  • EPR Cables (Ethylene-Propylene Rubber)
  • HEPR Cables (High Modulus Ethylene-Propylene)
  • MI Cables (Mass Impregnated)
• Accessories
  • Cable Joints
  • Cable Terminations
  • Fittings & Fixtures
  • Others

On the basis of voltage:

• 72.5 kV
• 123 kV
• 145 kV
• 170 kV
• 245 kV
• 400 kV and above

On the basis of installation:

• Overhead
• Underground
• Submarine

On the basis of conductor type:

• Copper
• Aluminum

On the basis of end user:

• Power Utilities  
• Renewables      
• Industrial
  • Oil & Gas
  • Chemicals & Petrochemicals
  • Metals & Mining
  • Others

On the basis of region:

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

​The underground segment, by installation, is expected to grow at the second-highest CAGR during the forecast period.

​This report segments the high voltage cables and accessories market based on installation into three segments: overhead, underground, and submarine. The underground segment is expected to be the second-fastest growing segment during the forecast period. Underground installation is essential as it offers enhanced reliability as they are less susceptible to weather-related disruptions leading to fewer power outages and a more dependable electrical supply. Underground cables provide flexibility for future expansion and urban planning, allowing for easier integration with new infrastructure projects and accommodating growing power demands.

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

​Asia Pacific is expected to be the largest high voltage cables and accessories industry during the forecast period. Industries in Asia Pacific is constantly evolving, with new developments and emerging trends emerging. Some key trends such as the growth in the energy consumption of the region, coupled with development of infrastructure and energy projects drive the market for high voltage cables and accessories with the rising need for effective power transmission and distribution.

Centrifugal Pump Industry to Penetrate Untapped Regions During 2023 – 2028

The global centrifugal pump industry is estimated to grow from USD 39.7 billion in 2023 to USD 51.5 billion by 2028, at a CAGR of 5.4% during the forecast period. The requirement for desalination and water treatment has also contributed to the growth opportunities for centrifugal pump manufacturers. Desalination plants rely on centrifugal pumps for seawater intake, brine circulation, and product water transfer. As water scarcity becomes a pressing issue in many regions, the demand for desalination and water treatment solutions is rising, thereby driving the demand for centrifugal pumps in industrial sector.

Key Market Players

Xylem Inc. (US), Sulzer (Switzerland), KSB (Germany), Grundfos Holding A/S (Denmark), and Flowserve Corporation (US) are some of the prominent companies in this market.

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Based on type, the market has been categorized into overhung impeller, between bearing, and vertically suspended. The market is dominated by overhung impeller type of centrifugal pumps. One common application of overhung impeller centrifugal pumps is in water supply systems for residential and commercial settings. Their compact design makes them a preferred choice in these environments where space is limited. As a result, the overhung impeller segment is projected to dominate the centrifugal pump market during the forecast period, driven by their increased usage in industrial and commercial applications. 

Based on operation type, the market has been categorized into below electrical, hydraulic, and air-driven. Within the oil and gas industry, centrifugal pumps serve crucial roles in various applications. They are utilized for main oil line transfer, seawater lifting, effluent treatment, boiler feeds, and more. When it comes to artificial lifts carrying moderate to high fluids from wellbores, electrical centrifugal pumps prove to be efficient and reliable. One significant advantage of these pumps is their ability to prevent the formation of vapor cavities in liquids. They find application in both open-pit and bore well scenarios.

This report segments the centrifugal pump industry based on end user into Based on end user, the centrifugal pump market has been classified into industrial, and residential & commercial. The industrial segment has been further segmented into oil and gas, water and wastewater, mining and metal chemicals, power generation, pharmaceuticals, food & beverage, pulp and paper, agriculture, automotive, and textiles. The industrial segment holds the largest market share of the centrifugal pump market. Centrifugal pumps can handle any kind of debris (stones, sticks, sand, mud, or trash) that can fit through the opening. These are used in feeding filter presses, digestion tanks & thickeners, and pumping stations. They are also used in dosing applications in wastewater treatment processes. The demand for centrifugal pumps in the mining and metals industry is being driven by new infrastructure development projects taking place across the fast-growing economies of Asia Pacific. Such initiatives propel the growth of the centrifugal pump market for the mining and metals industry.  

Asia Pacific is the fastest-growing region in the centrifugal pump industry. The rising population and resulting increase in electricity demand are anticipated to fuel market growth. The industrial sector has fueled the demand for additional power and is anticipated to expand the market for centrifugal pumps in the power generation industry in the region.

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 The key players in the market include Grundfos Holding A/S (Denmark), Xylem Inc. (US), KSB (Germany), Sulzer (Switzerland), and Flowserve Corporation (US). Strategies such as product launches, partnerships, collaboration, acquisitions, and contracts increase their share in the market. Companies are focussing on manufacturing solar powered centrifugal pumps a new range of pump wherein the pumps utilize solar energy to pump water for irrigation purposes, offering numerous advantages over traditional fuel-based pumps. Farmers can save on fuel expenses and eliminate the dependence on unreliable power grids, making solar water pumps a financially viable and sustainable solution. Furthermore, solar water pumps are environmentally friendly. They produce clean energy, reducing carbon emissions and minimizing the ecological footprint of agricultural activities.

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Recycling Water Filtration Market Outlook 2023 – Huge Growth, Trends, Revenue And In-Depth Analysis 2028

The Recycling water Filtration Market is projected to reach USD 3.8 billion by 2028 from an estimated USD 2.7 billion in 2023, at a CAGR of 7.5% during the forecast period. Recycling water filtration refers to the process of treating used water and filtering it to a quality suitable for reuse. This can be done for a variety of purposes, including potable and non-potable water and environmental restoration. It encompasses the technologies and equipment involved in purifying used water for reuse in various applications. It plays a critical role in water sustainability and conservation by turning wastewater into a valuable resource. Recycling water filtration tackles the challenge of water scarcity by treating wastewater from diverse sectors like oil and gas, food and beverage, farms, and power generation for reuse.

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Some key trends in the Recycling water Filtration Market include a growing emphasis on advanced filtration technologies, increased adoption of decentralized water treatment systems, rising demand for smart and sustainable solutions, integration of Automation and AI for efficient monitoring and management, and a focus on circular economy principles to enhance water sustainability.

This report segments the Recycling water Filtration Market based on product type into sand filters, multimedia filters, activated carbon filters, and membrane filters. The multimedia filter segment is the second largest segment in the market, based on the product type. Multimedia filters typically include anthracite, sand, and garnet due to their varying densities. In contrast to conventional sand filters that rely on a single media type, multimedia filters leverage a multi-layered design to enhance particle removal efficiency. The growing demand for multimedia filters in the market is driven by their effectiveness in removing various contaminants, adaptability to diverse water sources, and increasing awareness of the importance of comprehensive water treatment for sustainable and clean water initiatives.

This report segments the recycling water filtration market based on membrane type into reverse osmosis membranes, ultrafiltration membranes, microfiltration membranes, and nanofiltration membranes. The reverse osmosis (RO) membrane type is the fastest-growing segment and is experiencing a significant surge in demand within the recycling water filtration market. Reverse osmosis membranes boast exceptional capabilities to remove a wide range of contaminants, including salts, minerals, dissolved organics, and even certain microorganisms, resulting in high-quality recycled water suitable for diverse. These membranes offer efficient filtration with lower energy consumption compared to some alternatives, reducing operational costs and environmental impact. They also create multi-stage systems that deliver superior water quality and address diverse treatment needs.

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The evolving landscape of water treatment technologies presents a significant opportunity for the recycling water filtration market to thrive and expand its impact on sustainable water management. With developments such as nanotechnology, photocatalytic water purification technology, and automated variable filtration technology, the market for recycling water filtration is poised for substantial growth. Developing high-performance membranes, that reduce replacement rates of the filters, opens avenues for more efficient and cost-effective water treatment processes. Furthermore, the driving need for digitalization and predictive maintenance of the filtration products used in water recycling, is anticipated to propel the market growth.

Browse Related Reports:

Produced Water Treatment Market by Application (Onshore, Offshore), Source (Conventional, Unconventional), Treatment (Primary treatment, Secondary treatment, Tertiary treatment) and Region - Global Forecast to 2029

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