Market Industry Trends

Tuesday, August 27, 2019

Evolving Trends in the Gas-Insulated Substation Market, Forecast to 2023

According to the market report published by MarketsandMarkets™ "Gas-Insulated Substation Market by Voltage Type (Medium, High, and Extra High), Installation (Indoor and Outdoor), Output Power, End-User (Power Transmission Utility, Distribution Utility, and Generation Utility), and Region - Global Forecast to 2023", the gas-insulated substation market is projected to reach USD 29.5 billion by 2023 from USD 18.9 billion in 2018, at a CAGR of 9.2%. The growth in this market is supported mainly by the growing renewable power generation, the increasing investments in the transmission & distribution infrastructure, the rising energy demand, and limitations of space availability in densely populated urban areas, and increasing government initiatives for improving the electricity access.

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The high voltage segment will continue to dominate the gas-insulated substation market, by voltage type, during the forecast period

The gas-insulated substation market is segmented, by voltage type, into medium, high, and extra high. The high voltage segment held the largest market share in 2018. This can be attributed to its reliability and protection for the grid infrastructure. High voltage gas-insulated substations are used widely for critical switchyard of large power generation plants. A majority of the gas-insulated substations connected to the high voltage transmission grid are of indoor types. The high voltage segment is also driven by the refurbishment of old power transmission infrastructure in the developed countries of Europe and North America.

Browse and in-depth TOC on “Gas-Insulated Substation Market”

65 - Tables

33 - Figures

132 - Pages

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The outdoor segment is growing at the fastest rate in the gas-insulated substation market

The gas-insulated substation market is segmented, by installation, into indoor and outdoor. The outdoor segment is expected to grow at the fastest rate during the forecast period. Outdoor gas-insulated substations provide reliable operations in high-voltage transmission and medium voltage and are preferred for transmission & distribution of electricity over a long distance. These gas-insulated substations are designed to be used in outdoor environments. The enclosure is constructed so that the apparatus can be protected from harsh environmental conditions, including possible contamination. Outdoor substations operate above 5 kV voltage range. Thus, with the increase in demand for electricity, that is, the increase in high load transmission is expected to drive the outdoor installation of gas-insulated substations.

Asia Pacific will continue to dominate the gas-insulated substations market through 2023

The gas-insulated substation market has been analyzed with respect to six regions, namely, North America, Europe, South America, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to be the largest gas-insulated substation market from 2018 to 2023, followed by the Middle East & Africa.

Factors such as increasing power consumption, rising influx of renewable sources in the energy mix, government mandates on energy efficiency, renovation, modernization, and upgrade of aging hydropower plants driving the gas-insulated substation industry in Asia Pacific. The extending generation connections in Asia Pacific is another major driver for expanding investments in the transmission & distribution network in this region.

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The gas-insulated substation market consists of a few leading players such as ABB (Switzerland), L&T (India), Siemens (Germany), Hitachi (Japan), Toshiba Corporation (Japan), and General Electric (US) because of their broader product portfolio along with crucial developments in the market. These top players have a wide distribution and sales networks across the globe. The other players in the gas-insulated substation market include Hyosung (South Korea), BHEL (India), TBEA, Co. Ltd. (China), El Sewedy Electric, Crompton Greaves (India), and Mitsubishi Electric Corporation (Japan).

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Monday, July 15, 2019

Diesel Power Engine Market worth 9.13 Billion USD by 2022 at a CAGR of 3.78%, from 2017 to 2022.

According to the new market research report “Diesel Power Engine Market by Operation (Standby, Prime, and Peak Shaving), Rated Power (Up To 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW, and Above 5 MW), End-User (Industrial, Commercial, Residential), and Region - Global Forecast to 2022”,The diesel power engine market is estimated to grow at a CAGR of 3.78% from 2017 to 2022, to reach a market size of USD 9.13 billion by 2022. Diesel power engines are used for power generation by end-users such as industries, commercial, and residential. The rising demand for reliable power and growing urbanization are some of the factors contributing to the growth of the diesel power engine market.

Browse and in-depth TOC on “Diesel Power Engine Market”

69 - Tables

45 - Figures

144 - Pages

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Asia Pacific is estimated to be the fastest growing market for diesel power engine from 2017 to 2022. The increasing need for power generation, particularly in China and India, along with rising investments in manufacturing, commercial complexes, process, and other industries, has increased the demand for a constant supply of uninterrupted power. Downtime in any industry is costly, and quick start power generation can aid in improving the overall plant efficiency and minimize unwanted cost overruns. These factors are expected to drive the growth of the diesel power engine market in Asia Pacific. China and India are estimated to be the two largest markets for diesel power engine in the region in 2017. In addition, the diesel power engine market is expected to grow significantly in countries such as Australia and Bangladesh during the forecast period.

The standby segment is expected to be the fastest-growing segment of the diesel power engine market from 2017 to 2022. The growth of this segment can be attributed to the widespread application of backup power across various end-users. The use of standby engines in commercial buildings, residential societies, and industrial applications in case of power interruption and backup applications in CHP and other power plants has also resulted in the higher demand for standby engines. Asia Pacific and South America are estimated to be the fastest growing markets for diesel power engine and offer lucrative business opportunities for standby manufacturers.

The 1 MW–2MW segment is expected to be the fastest growing market, by power rating, from 2017 to 2022. The diesel engines of this power rating find application in large residential areas and industrial applications. The 0.5MW–1 MW segment is expected to grow at the second highest CAGR from 2017 to 2022 as these are used in large applications in commercial spaces and universities. Thus, there are lucrative business opportunities in the 1 MW–2MW and 0.5MW–1 MW segments.

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The industries segment is expected to be fastest-growing diesel power engine market, by end-user, from 2017 to 2022 due to increasing industrialization in developing economies. The major industries that use diesel power engine include cement, pharmaceutical, datacenter, metals and mining, automotive, oil & gas, and paper and pulp. Various operations in these industries require an uninterrupted power supply, which helps to enhance the productivity. These factors are expected to create new revenue pockets for the diesel power engine market in the industries segment during the forecast period.

Browse more related reports:

Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous), Power Rating (<100 KVA, 100-350 KVA, 350-1000-2500 KVA, 2500-5000 KVA, >5000 KVA), End-User (Residential, Commercial, Industrial)- Global Forecast to 2024

Variable Speed Generator Market by Type (Permanent Magnet, Doubly Fed Induction, Self-Excitation Induction, Wound Rotor Induction), Prime Mover (Wind, Hydro, Steam & Gas Turbine, Ic Engine), Technology, Power, End-User, Region – Global Forecast to 2022

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Wednesday, July 10, 2019

Centrifugal Pump Market to Boom in Near Future by 2022 Industry Key Players: ITT, Flowserve, KSB, Sulzer, Grundfos, and Ebara

According to the market report published by MarketsandMarkets "Centrifugal Pump Market by Type (Overhung Impeller, Vertically Suspended, and between Bearing), Stage (Single Stage, Multistage), End-User (Water and Wastewater, Chemicals, Oil & Gas, Power, Commercial and Residential), and Region - Global Forecast to 2022", The centrifugal pump market is expected to grow from an estimated USD 30.65 billion in 2017 to USD 36.98 billion by 2022, at a CAGR of 3.83%, during the forecast period. The market is set to witness growth due to increasing investments in infrastructure development and rising demand from the industrial sector.

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The single stage centrifugal pump market is expected to be the largest centrifugal pump market, by stage, in 2017.

The single stage pump segment is expected to be the largest segment of the centrifugal pump market, by stage, in 2017. These pumps are widely used in the industrial sector as they can handle large flow volumes of fluids. Increased investments in infrastructure and solar power plants and the growing household sector in developing countries are the key drivers of the single stage centrifugal pump market.

Browse and in-depth TOC on “Centrifugal Pump Market”

69 - Tables

40 - Figures

154 - Pages

https://www.marketsandmarkets.com/Market-Reports/centrifugal-pump-market-17494785.html

The vertically suspended centrifugal pump market is expected to be the second-largest centrifugal pump market, by type, during the forecast period.

Vertically suspended pumps are self-priming and use 75% less floor space than horizontal pumps with electric motor drives. An increase in the demand for multistage pumps with high pressure in high rise commercial buildings, the petroleum, oil & gas, and industry process services, and cooling power systems are the major factors driving the market for vertically suspended pumps.

Europe: Key market for centrifugal pumps during the forecast period.

In this report, the centrifugal pump market has been analyzed with respect to 6 regions, namely, Asia Pacific, Europe, North America, South America, the Middle East, and Africa. Europe is expected to be the second-largest centrifugal pump market, by region, during the forecast period. The increased demand from the water and wastewater sector, moderate demand from the construction and mining sectors, the growing awareness of energy savings, high per capita income, and supportive government plans are expected to drive the market for centrifugal pumps in this region. Germany, Russia, and the UK are the leading countries which will contribute to the growth of the centrifugal pump market in Europe.

Objectives of the Study

· To define, describe, and forecast the market by type, by stage, by end-user, and region

· To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

· To strategically analyze the market with respect to individual growth trends, future projections, and the contribution of each segment to the market

· To track and analyze competitive developments such as contracts & agreements, new product launches, expansions and investments, mergers & acquisition, strategic alliances, and partnerships and collaborations in the market

· To profile key players and comprehensively analyze their market ranking and core competencies

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