Market Industry Trends

Friday, May 10, 2019

Floating Power Plant Market Projections, Future Opportunities Recorded for the Period until 2022

The floating power plant market is expected to grow from an estimated USD 889.6 Million in 2017 to USD 1,440.1 Million by 2022, at a CAGR of 10.11%, from 2017 to 2022.

The factors driving the market includes increasing demand for power, coupled with the lack of power infrastructure, benefits over land based power plants (majorly as it eliminates the land acquisition related problems), and energy efficiency mandates and demand for clean energy (renewable energy source).

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Non-Renewable is the largest power source-based market segment

The report segments the floating power plant market on the basis of power sources into non-renewable and renewable. In 2016, the non-renewable segment held the largest market share of the global floating power plant market. This growth is majorly driven by the lack of power infrastructure, coupled with the upsurge in energy demand. The non-renewable power source market is segmented into key components, such as gas turbines and IC engines.

Above 250 MW is the largest capacity-based market segment

The report also segments the floating power plant market by capacity into 1 MW to5 MW, 5.1 MW to–20 MW, 20.1 MW to100 MW, 100.1MW to250 MW, and above 250 MW. The capacity segment above 250 MW is projected to dominate the floating power plant market till 2022. The market share of the above 250 MW segment, is maximum, as the floating power plants which generate this amount of capacity, fall under the non-renewable segment, thus accounting for a major share of the market in the capacity segment.

Asia-Pacific is a key potential market for floating power plants

The floating power plants market is segmented into North America, Asia-Pacific, Europe, and the rest of the world (South & Central America and the Middle East & Africa). The rest of the world dominated the floating power plant market in 2016, owing to the high demand from the Middle East and African countries, which was closely followed by the Asia-Pacific region. The Asia-Pacific region is projected to dominate the floating power plant market by 2022, owing to the rise in renewable floating power plants in countries such as Japan and China, and the non-renewable floating power plants in countries such as Indonesia and Myanmar, among others.

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To provide an in-depth understanding of the competitive landscape, the report includes the profiles of companies, such as MAN Diesel & Turbo SE (Germany), Mitsubishi Corporation (Japan), Wartsila (Finland), General Electric Company (U.S.), Siemens AG (Germany), Caterpillar, Inc. (U.S.), Ciel & Terre International (France), Floating Power Plant A/S (Denmark), Ideol (France), Kyocera Corporation (Japan), Principle Power, Inc.(U.S.), Upsolar (Hong Kong), Vikram Solar Pvt., Ltd. (India), Yingli Solar (China), and SeaTwirl AB (Sweden), among others. The dominant players are trying to gain a foothold in developing economies and are adopting various methods to grab the market share.

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Tuesday, May 7, 2019

Instrument Transformers Projected to Gain Significant Market Growth in Near Future

According to the new market research report "Instrument Transformers Market by Type (Current, Potential, and Combined Instrument Transformers), Enclosure Type (Indoor and Outdoor), Dielectric Medium (Solid, Liquid, and SF6 Gas), Voltage, Application, End-User, and Region - Global Forecast to 2022 ", the instrument transformers market is expected to grow from an estimated USD 7.32 Billion in 2017 to USD 9.06 Billion by 2022, registering a CAGR of 4.35% during the forecast period. This growth is primarily due to the increasing emphasis on alternative energy production, refurbishment of aging infrastructure, and huge investments in smart grids and energy systems across the world.

The power utilities segment is expected to hold the largest share of the instrument transformers market, by end-user, during the forecast period

The power utilities segment led the instrument transformers market in 2016, and is projected to dominate the market during the forecast period. The total investment in the transmission and distribution infrastructure over 2014 to 2035 is expected to be USD 6.8 trillion, according to the International Energy Agency. Approximately, 56% of the total energy investment accounts for transmission and distribution. Refurbishment and replacement of existing assets contribute 40% and the grid integration of renewables accounts for 4%. Instrument transformers are a major part of the transmission and distribution infrastructure, used for measurement as well as protection of the system. Approximately 10% of the total substation cost is dedicated to procurement and installation of instrument transformers. With the increasing investments in the power infrastructure, the market for instrument transformers tends to grow.

Browse and in-depth TOC on “Instrument Transformers Market"

99 - Tables

48 - Figures

171 - Pages

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Capacitive potential transformers to be the fastest growing segment in the instrument transformers market

With regard to the type segment, capacitive potential transformers are expected to constitute the fastest growing market from 2017 to 2022. Capacitive potential transformers are used to measure voltages above 66 kV. In these types of transformers, capacitors are used as voltage dividers. These capacitors are connected in series where the voltage drop takes place. Unlike inductive voltage transformers, capacitive voltage transformers usually have a ferro resonance damping circuit built into the instrument transformers itself. Apart from voltage measurement, these capacitive voltage transformers are also used as high pass filters. These days transmission lines are used for communication purposes as well. The information at high frequencies (in MHz) are conveyed through transmission lines from one grid to another and is known as Power Line Carrier Communication (PLCC). Capacitive voltage transformers, when used as high pass filters, helps in PLCC.

Asia Pacific: The leading market for instrument transformers

In this report, the instrument transformers market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Asia Pacific is expected to account for the largest market share of 36% in the global instrument transformers market in 2017. Countries such as China, Japan, and India are investing in grid expansion projects to increase their distribution grid reliability. China accounted for the largest share of the instrument transformers market in Asia Pacific in 2016. It has the highest installed power generation and distribution capacities, resulting in an increased demand for transformers. The country, which is an export-oriented economy, has witnessed an exponential growth in the demand for electricity in the past couple of decades, fueled by industrialization and infrastructural developments. Meanwhile, the next strongest economy, India, is also adding up its renewable energy capacity annually. For instance, the country is the third-largest electricity producer in the world and is likely to generate approximately 30 GW of power from renewable energy sources in 2017. This would require grid connected as well as local distribution networks. These factors are expected to drive the growth of the instrument transformers market in Asia Pacific.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the instrument transformers market. These players include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), and GE (US). The leading players are trying to make inroads in the markets in the developed economies and are adopting various strategies to increase their market shares.

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Monday, May 6, 2019

Switchgear Market Emerging Trend to Build Growth at a 7.12% CAGR from 2017 to 2022

According to the market report published by MarketsandMarkets™, "Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022", The switchgear market is expected to grow from an estimated USD 88.71 Billion in 2017 to USD 125.10 Billion by 2022, at a CAGR of 7.12%, from 2017 to 2022. The global market is set to witness a significant growth due to the continued growth of construction and developmental activities, increasing access to electricity, and growth of renewable power generation projects.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/switchgear-market-1162268.html

The transmission and distribution utilities segment is expected to hold the largest share of the switchgear market, by end-user, during the forecast period.

The transmission and distribution utilities sub-segment of the end-user segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. The transmission and distribution utilities segment is also expected to grow at the fastest rate during the forecast period.

The growth of the transmission and distribution utilities segment is primarily driven by increasing investments in sub-station automation, modernization of electric grid, and smart utilities which includes smart grids and smart meters. This would enhance the protection by decreasing energy losses, due to poor operational efficiency of traditional equipment. This would ultimately create new revenue pockets for the switchgear market during the forecast period.

Browse and in-depth TOC on “Switchgear Market"

68 - Tables

51 - Figures

144 - Pages

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The gas insulated switchgear is expected to hold the largest share of the switchgear market, by equipment, during the forecast period.

The gas insulated switchgear sub-segment of the equipment segment led the switchgear market in 2016 and is projected to dominate the market during the forecast period. Rising energy demand and extension/replacement of old switchgear at sub-stations can drive the gas insulated switchgear equipment in the switchgear market. However, the circuit breaker sub-segment accounted for the second largest share in 2016 in the switchgear market, based on the equipment segment.

North America: The leading market for switchgear

In this report, the switchgear market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, the Middle-East and Africa, and South America. The market in Asia Pacific led the global switchgear market in 2016. Increasing grid investments especially in developing economies, such as China and India and plans for electrification in remote areas in countries, such as Vietnam, Indonesia, and the Philippines are expected to drive the switchgear market in Asia Pacific. Indonesia aims to achieve 90% electrification rate by 2025 and the countries, such as the Philippines and Malaysia have similar plans. Rise in investments in smart grid technologies including distribution grid automation, smart meters, and demand response systems in countries, such as Japan, South Korea, and Australia would create opportunities for the switchgear market in the Asia Pacific region.

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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the switchgear market. The key players include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), EATON CORPORATION plc (Ireland), Hitachi Ltd. (Japan), Schneider Electric SE (France), and Mitsubishi Electric Corporation (Japan) among others. The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.