Oil & Gas Sensors Market rising demand growth trend insights for next 5 years

The Oil & Gas Sensors market is expected to grow from USD 7.4 billion in 2018 to USD 9.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. The major factors driving the oil & gas sensors market include growing IoT in the oil & gas industry. IoT in the oil and gas industry helps in improving operational efficiency, revenue, real-time data, and decreasing safety risk, and environmental footprint.

The pressure sensors segment is expected to grow at the highest CAGR in the global oil & gas sensors market during the forecast period

The oil & gas sensors market has been segmented on the basis of sensors type into pressure sensors, flow sensors, level sensors, temperature sensors, and others. Among these types, pressure sensors is the fastest growing segment in the oil & gas sensors market as they provide accurate and reliable data to detect small changes in the pressure usually in the upstream and midstream processes.

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Wireless sensors are expected to grow at the highest CAGR in the global oil & gas sensors market during the forecast period

Wireless sensors in the oil & gas industry are installed in all upstream, midstream, and downstream processes. Wireless sensors have a growing demand as they eliminate cables, resulting in reduced installation and operating costs. Moreover, wireless sensors have a wide variety of applications in the oil & gas industry varying with different requirements and characteristics.

North America is expected to hold the largest market size in the oil & gas sensors market in the forecast period

North America is estimated to account for the largest share of the market in 2018. The region is considered the most advanced region in terms of technology adoption and infrastructure. The sensor market in the oil & gas industry would be mainly driven by the growth in unconventional resources in the US and Canada. The demand from the onshore & offshore fields in the Gulf of Mexico is also likely to positively impact the sensor market during the forecast period. All these factors are expected to drive the oil & gas sensor market in North America.

Key market players:

Major vendors in the oil & gas sensors market include Emerson (US), ABB (Switzerland), GE (US), Indutrade (Sweden), BD Sensors (Germany), Lord (US), MTS Sensors (US), Bosch (Germany), Rockwell (US), TE Connectivity (Switzerland), Fortive (US), and Siemens (Germany).

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Report Objectives:

1. To define, describe, and forecast the global oil & gas sensors market by type,  application, connectivity, sector, and region
2. To provide detailed information on the major factors influencing the growth of the oil & gas sensors market (drivers, restraints, opportunities, and industry-specific challenges)
3. To strategically analyze the oil & gas sensors market with respect to individual growth trends, prospects, and contribution of each segment to the market
4. To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
5. To forecast the growth of the oil & gas sensors market with respect to the major regions (Asia Pacific, Europe, North America, South America, and the Middle East & Africa)
6. To strategically profile key players and comprehensively analyze their market rankings and core competencies
7. To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the oil & gas sensors market

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Smart Transformers Market Research by Business Analysis, Growth Strategy and Industry Development to 2022

 

The report "Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022", is expected to grow from an estimated USD 1.47 Billion in 2017 to USD 2.43 Billion by 2022, registering a CAGR of 10.54%, from 2017 to 2022. The global market is set to witness a significant growth due to increasing emphasis on alternative energy production across the globe, digitalization of power utilities, and huge investments in smart grids and energy systems.

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The smart grid segment is expected to hold the largest share of the smart transformers market, by application, during the forecast period

The smart grid segment led the smart transformers market in 2016, and is projected to dominate the market during the forecast period. One of the biggest uses of a smart transformer in smart grids is its role in integrating power from distributed generation into the main grid. Smart grids have two-way communication for real-time monitoring and controlling of network characteristics. For this, the basic step is the implementation of smart meters for end-user interactions, followed by employing smart transformers in the network to further strengthen communications and avoid power outages. Although smart grids prevent faults and power outages, they are also equipped with self-realization characteristic that allows the network to restore to normal, once the fault is cleared. This is driving the market for smart transformers in the smart grid segment, which is expected to create new revenue pockets for the smart transformers market during the forecast period.

Distribution transformers to be the fastest growing segment in the smart transformers market

With regard to the type segment, distribution transformers are expected to constitute the fastest growing market from 2017 to 2022. Smart distribution networks require smart transformers to communicate with consumers and also for continuous load monitoring. Distribution transformers are less efficient than power transformers as they are subject to load fluctuations and the chances of failure are higher. Power distribution sometimes results in increased load above the peak limit of the equipment. Hence, the implementation of a distribution network is essential for proper load management, resulting in better power quality and less power outages.

Asia Pacific: The leading market for smart transformers

In this report, the smart 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 in the global smart transformers market by 2022. Countries, such as China, Japan, and India are investing in grid expansion projects to increase the distribution grid reliability. China accounted for the largest share of the smart transformers market in Asia Pacific in 2016 and has the highest installed generation and distribution capacity, 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 Indian government is also taking initiatives to increase the power generation capacity using renewable energy sources. 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 smart 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 smart transformers market. These players include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), and General Electric (US). The leading players are trying to make inroads in the markets in developed economies and are adopting various strategies to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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

Insights on the Lead Acid Battery Market to 2024 - by Offerings, End-users Industry and Geography

The global lead acid battery market is projected to reach USD 52.5 billion by 2024 from an estimated USD 41.6 billion in 2019, at a CAGR of 4.7% during the forecast period. This growth can be attributed to factors such as the need to integrate renewable energy to the main grid, and the booming data industry promising the installation of several data centers across the globe, which expects the utilization of lead acid batteries for backup power supply.

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The VRLA segment is expected to be the largest lead acid battery market, by construction method, during the forecast period

The Valve Regulated Lead Acid (VRLA) segment is expected to be the largest market during the forecast period. The VRLA batteries comprise absorbent glass mat (AGM) and gel cells. These are new technology-driven construction methods, including the presence of adsorbent glass material and silica gel, respectively. These methods ensure the longevity of the batteries and require less maintenance compared to regular lead acid batteries. In the times to come, these batteries are likely to be preferred over conventional flooded lead acid batteries due to their various advantages.

The advanced lead acid battery is expected to be the fastest-growing segment of the lead acid battery market, by technology, during the forecast period

The advanced lead acid battery has carbon coatings on the anode plate, which eliminates the requirement of cleaning the lead sulfate deposition on the electroplate. At the same time, the life of the anode electrode is enhanced, eventually increasing the overall life of the battery set. It provides benefits like rapid charging on regenerative breaking. This is a significant advantage of advanced lead acid batteries, as this task is difficult to achieve with regular lead acid batteries. Although comparatively heavier and larger than lithium-ion, these batteries are cost-effective, efficiently operating at low and subfreezing temperatures, and does not require active cooling.

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Asia Pacific to account for the largest share of the global lead acid battery market

In this report, the lead acid battery market has been analyzed with respect to five regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. The Asia Pacific region is estimated to dominate the global lead acid battery market in 2019, owing to the requirement of cost-effective energy solutions. The presence of a large automotive and manufacturing base in the region is expected to be the key driver for market growth. Increasing energy consumption in the area due to rapid industrialization and urbanization is expected to propel the growth of the market over the forecast period.

Restraint: Low-cost alternatives in energy storage space

Until recently, lead-acid batteries have been the most cost-effective technology. However, with the rise of alternative battery storage technologies, especially the lithium-ion technology, lead-acid batteries are losing out on the cost-effectiveness quotient. Lead-acid batteries are witnessing a price drop nearly across all industries. Simultaneously, the Nickel-Metal Hydride (NiMH) battery is a proven and mature technology for hybrid applications. It is used by Original Equipment Manufacturers (OEMs), including Toyota, Honda, and Lexus. The OEMs prefer these batteries for their safety, performance, and longer lifecycle in hybrid applications. Also, along with NiMH batteries, even nickel-cadmium batteries prove to be a cost-efficient solution for battery storage users. They are cheaper and more effective as an alternative to lead-acid batteries.

Opportunity: Expanding data center infrastructure

Massive demand for battery storage is found in data centers. Any power disruptions and inconsistencies in data centers may prove crucial. Thus, lead-acid batteries mostly cater to the backup power needs of this particular industry. Also, the UPS used in the industry are primarily lead-acid battery systems. Therefore, a significant amount of this category of batteries is used in this industry.

In the near future, significant demand is foreseen for the installation of data centers. With the growing generation of data, the data handling capacity is also expected to increase in the years to come. As data centers use lead-acid batteries, their demand is consequently bound to increase.

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Key Players:

The report includes the profiles of some of the top players in the lead acid battery market to enable an in-depth understanding of the competitive landscape. Some of the key players are EnerSys (US), Exide Industries (India), GS Yuasa (China), Clarios (US), Panasonic (Japan), Chaowei Power (China), Narada Power (China), HBL Power Systems (India), Crown Battery (US), NorthStar (Sweden), Hitachi Chemical (Japan), Exide Technologies (US), Teledyne Technologies (US), East Penn (US), Hankook AltasBX (Korea), HOPPECKE (Germany), C&D Technologies (US), Rolls Battery (Canada), Camel Power (Malaysia), Amara Raja Power System (India), XUPAI Battery (China), Okaya Power (India), Leoch International Technology (Hong Kong), Harbin Coslight Power (China), and First National Battery (South Africa). The leading players are adopting various strategies to increase their share in the lead acid battery market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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