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Solid oxide fuel cells are the electrochemical devices that use fuel cell technology to generate electricity. Solid oxide fuel cells are electrochemical devices that convert the chemical energy of a fuel, typically hydrogen, into electrical energy through a chemical reaction. These fuel cells can provide a continuous and reliable source of power for various applications. Growing demand for consumer electronics along with increasing adoption of solid oxide fuel cell (HDI) technology for backup power solutions are expected to drive the demand for solid oxide fuel cell market.
According to a research report, The global solid oxide fuel cell industry is projected to reach USD 5.4 billion by 2028 from an estimated USD 1.4 billion in 2023, at a CAGR of 31.0% during the forecast period. The growing use of electronic devices in emergency, off-grid, and automotive applications will benefit the fuel cell generator business.
This report segments the solid oxide fuel cell market based on type into planar and tubular. Planar has a greater material selection (including the use of metallic interconnects), lower temperature operation, predicted longer cell life, decreased thermal stress, improved reliability, and lower fuel cell cost. Because of their superior power densities and hefty system designs, planar SOFCs are often used in stationary power applications. Despite the fact that planar geometry SOFCs are a more mature technology than tubular SOFCs, the growing need for power-hungry portable devices is likely to fuel the tubular SOFC market throughout the forecasted period.
Based on application, the solid oxide fuel cell market is segmented into stationary, portable and transport. Stationary segment is expected to hold the largest market share during the forecast period. The surging adoption of advanced electronics in sectors such as aerospace, automotive, and consumer electronics that require compact backup power solutions is one of the key reasons for the growth of the solid oxide fuel cell market. The Transport segment is the fastest growing segment during the forecast period owing to the increasing development of SOFCs for operating heavy-duty vehicles.
This report segments the solid oxide fuel cell market based on end user into six categories: residential, commercial & industrial, military & defense, and data centers. Commercial & Industrial is expected to hold the largest market share during the forecast period. Hospitals, hotels, shopping malls, office buildings, sports centers, transportation, and other industrial facilities are examples of commercial and industrial end users. Because of their great electrical efficiency, low emissions, and fuel flexibility, SOFCs are an appealing option for stationary building applications. SOFCs may convert a higher percentage of a fossil fuel's energy into power than combustion-based processes and can also create power using low- and no-carbon fuels like hydrogen.
According to a research report, the global market for cryogenic equipment is projected to reach USD 16.6
billion by 2028 from an estimated USD 11.9 billion in 2023, at a CAGR of
6.9% during the forecast period.
A cryogenic equipment is any storage
or transportation apparatus that helps handle cryogenic fluids
(liquefied industrial gases at temperatures below -150ºC). Typical
equipment in this category include tanks, pumps, vaporizers, heat
exchangers, valves, pressure regulators, and pipes. They are used in
various applications, such as the production, storage, and
transportation of LNG; preservation of biological materials including
human tissues, sperms, and embryos; long-term storage of biological
samples such as stem cells, cord blood, and tissues; development of
hydrogen fuel systems, particularly for the automotive and
transportation industries; as well as cooling scientific instruments on
space telescopes and maintaining extremely low temperatures for space
probes and vehicles, satellite launch facilities, and air separation
units. The cryogenic equipment market is heavily dependent on the
consumption of industrial gases that are liquefied for high-volume
storage purposes. oxygen, nitrogen, argon, and hydrogen, wherein oxygen
and nitrogen are such major industrial gases used across end-user
industries for numerous applications. The increasing use of these
industrial gases in industries such as energy & power, metallurgy,
electronics, chemicals, and transportation is likely to propel the
demand for cryogenic equipment. Moreover, growing popularity of
liquefied natural gas as source of clean and efficient energy, will
boost the demand for cryogenic equipment for the transportation and
storage at LNG liquefaction and regasification terminals.
The Tanks, by equipment, is expected to grow at the highest CAGR during the forecast period.
Based on equipment, the cryogenic equipment market has been split into
tanks, valves, vaporizers, pumps and other equipments such as pipes,
regulators, freezers, dewars, strainers, samplers, heat exchangers, leak
detection equipment, dispensers, and accessories (manifolds, fittings,
vacuum-jacketed/-insulated piping, hoses, connections). Tanks are
expected to grow at the highest CAGR during the forecasted period. The
increasing global demand for LNG tanks and microbulk tanks will be the
major reason for the leading position of the tanks segment in this
market in the coming years.
The nitrogen segment, by cryogen, is expected to be the largest segment during the forecast period.
This report segments the cryogenic equipment market based on cryogen
into six segments: nitrogen, argon, oxygen, liquified natural gas (LNG),
hydrogen, and other cryogens (helium, nitrous oxide, ethylene, and
carbon dioxide). The nitrogen segment is expected to be the largest
segment during the forecast period owing to its high availability in the
atmosphere and its inert nature. Nitrogen is widely used in industrial
and medical applications, nitrogen is also used in the energy &
power industry to enhance oil recovery. It is used in fertilizers and
chemical industries as well.
Asia Pacific is expected to be the largest region in the cryogenic equipment market.
Asia Pacific is expected to be the largest cryogenic equipment market
during the forecast period. The Asia Pacific region comprises major
economies such as China, India, Australia, Japan, Malaysia, and Rest of
Asia Pacific. Rest of Asia Pacific primarily includes Thailand, the
Philippines, Singapore, Indonesia, and Myanmar. . The high growth rate
and market share of the Asia Pacific region can be attributed to
constant LNG infrastructure developments in China, investments in the
aerospace industry in India, and increasing investments in gas
production and LNG imports in Australia and Japan, respectively. The
significant demand for cryogenic equipment in the region is witnessed
by end-user industries such as healthcare, metallurgy, energy &
power, and electronics.
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
According to a research report,the globalHydrogen Storage Tanks and Transportation Market Sizeis 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 size 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.
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.
by type segement
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
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.
According to a research report "Africa Centrifugal Pump Market by Type (Overhung Impeller, Between Bearing, Vertically Suspended), Operation Type (Electrical, Hydraulic, Air-driven), Stage (Single, Multi), End User (Industrial, Residential & Commercial) and Country - Forecast to 2030" published by MarketsandMarkets, With a compound annual growth rate (CAGR) of 5.5% over the forecast period, the Africa centrifugal pump market is expected to grow significantly, from an estimated USD 653.8 million in 2024 to USD 903.1 million by 2030. The primary driver of this robust growth is the growing demand for superior centrifugal pumps, particularly in light of the region's expanding agricultural industry. Another important factor propelling the growth of the Africa centrifugal pump market is the increasing preference for solar water pumps, which make use of centrifugal pump technology. Because of their effectiveness and environmental friendliness, these solar-powered pumps are becoming more and more popular, especially in isolated and off-grid areas with limited access to traditional power sources. The growing uptake of solar water pumps is a testament to the region's commitment to sustainable solutions and the desire to harness renewable energy sources to address water management challenges. The transition to renewable energy solutions, coupled with the need for dependable water management systems in agriculture, is driving the growing demand for advanced centrifugal pumps in Africa.
Electrical by operation type is expected to grow at the highest CAGR during the forecast period.
From 2024 to 2030, the electrical segment of the Africa centrifugal pump market is projected to grow at the fastest rate. Electrical centrifugal pumps are becoming increasingly popular in a variety of applications due to their efficiency and dependability, which is what is driving their growth. These pumps are mostly used in artificial lift systems, which are used in the oil and gas industry in particular, to move moderate to large volumes of fluids from wellbores. Electrical centrifugal pumps have the important benefit of not allowing vapor cavities (cavitation) to form in liquids. Cavitation can damage pumping systems and lower their efficiency. This capability, combined with their consistent performance and ease of operation, positions electrical centrifugal pumps as a preferred choice in the market, particularly in industrial and commercial settings where reliability is critical.
Single stage segment by stage type is expected to occupy the majority share in the Africa centrifugal pump market.
The single-stage segment is anticipated to hold a dominant market share in Africa's centrifugal pump market because of its ease of use, affordability, and extensive application in a variety of industries. Single-stage pumps are perfect for applications requiring low to moderate pressure, such as irrigation, general industrial processes, and water supply. Their attractiveness is further increased by their simplicity in installation, upkeep, and effective functioning, particularly in areas with inadequate infrastructure and technical know-how. Furthermore, the growing need for wastewater and water management in African cities and rural areas supports single-stage centrifugal pumps' market dominance.
South Africa likely to emerge as the largest Africa centrifugal pump market.
Over the course of the forecast period, South Africa is anticipated to hold the largest share of the Africa centrifugal pump market. The nation's thriving mining, power, water and wastewater, oil and gas, and construction industries are the key drivers of this market's expansion. Wastewater treatment becomes an essential way to meet water needs in an area where freshwater resources are scarce, especially for non-potable uses. In these procedures, centrifugal pumps are crucial because they provide effective water distribution, treatment, and circulation. Centrifugal pumps are in high demand due to South Africa's growing emphasis on infrastructure and industrial development, which has helped the company maintain its dominant position in the continent's market.
Key Market Players
Grundfos Holding A/S (Denmark), Xylem Inc. (US), Sulzer (Switzerland), KSB (Germany), Wilo (Germany), Weir (UK), Ruhrpumpen Group (US), and EBARA Corporation (Japan) are the major companies in the centrifugal pump market in Africa.
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
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).
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.
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.
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
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.
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.
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.
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
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).
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.
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.
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
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.
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.
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.
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.
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.
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).
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).
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.
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.
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.
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.
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.
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
