Smart Meters Market Technology Advancement and Industry Growth by 2022

The smart meters market is projected to reach USD 19.98 billion by 2022, at a CAGR of 9.34% from 2017 to 2022. Smart meters are used in the industrial, commercial, and residential sector, measuring energy consumption of the consumers. Factors such as government policies & mandates in developed economies and accurate billing & improved customer service are driving the market globally. Residential customers are the fastest end-users of smart meters, followed by commercial and industrial customers. The North American market is estimated to be the largest market for smart meters, followed by Asia-Pacific in 2017. This trend is expected to continue till 2022. The growth of the smart meters market is driven by government policies, energy conservation, increasing smart grid deployment, and utilities urge to enhance distribution efficiency.

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The Advanced Metering Infrastructure (AMI) technology segment is expected to grow at the fastest CAGR from 2017 to 2022
With regards to the technology segment, Advanced Metering Infrastructure (AMI) are expected to constitute the fastest growing market from 2017 to 2022 because of its advanced technology. Moreover, AMI reduces labor cost and several power, water, and gas utilities worldwide are replacing AMR with AMI infrastructure, further creating growth opportunities for the AMI market. 

Asia-Pacific is estimated to be the fastest growing market for smart meters from 2017 to 2022. Factors such as government policies & mandates in developed economies and accurate billing & improved customer service are driving the global smart meters market. China is expected to grow at the fastest pace during the forecast period. Furthermore, the growing power sector in India is expected to spur the growth of the market and represents a promising opportunity for major smart meters providers. Japan is also expected to witness a significant growth during the same period. On the other hand, Europe and the Middle East are trying to boost their energy efficiency programs, T&D spending, and construction & infrastructural activities.

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The smart meters market is dominated by a few major players that have a wide regional presence and are established brand names. Leading integrated solution providers in the smart meters market include Itron, Inc. (U.S.), Kamstrup A/S (Denmark), Holley Metering, Ltd. (China), Honeywell International, Inc. (U.S.) and Toshiba Corporation (Japan).

Offshore Wind Market Emerging Trends, Growth and Opportunities to 2022

The Offshore Wind Market is expected to grow from an estimated USD 27.02 Billion in 2017 to USD 55.11 Billion by 2022, at a CAGR of 15.32% from 2017 to 2022. The market in Europe was estimated to be the largest market for offshore wind, followed by Asia-Pacific in 2016. This trend is expected to continue till 2022. The offshore wind market has been rapidly growing, especially in Europe as it contributed the European Union (EU) to meet its renewable energy targets for 2020. The global demand for electric power is increasing due to various factors such as urbanization, increased industrialization, and economic development among others. Rising energy demand and energy efficiency mandates drive the demand for the offshore wind. The growth of the offshore wind market is driven by increasing share of renewable energy in power generation, energy efficiency mandates demanding carbon emission reduction, and government incentives supporting renewable energy deployment. The offshore wind is gaining acceptance due to its high capacity factor which makes it an important renewable resource to help in the reduction of CO2 emissions. Moreover, countries like China and the U.S. are also focusing on emission reduction.

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The report segments the offshore wind market on the basis of component such as turbine, substructure, and others (logistics and transportation, and assembly and installation). The turbine segment is projected to dominate the offshore wind market. This is mainly because it contains most important components such as nacelle, rotor and blades, and tower which helps to generate electricity. Moreover, turbine cost accounts for the maximum share in the overall cost of the offshore wind project. The market in Europe is the largest for turbines, where in, companies like MHI Vestas (Denmark) and Siemens AG (Germany) among others manufacture turbines with high capacity and cater the needs of wind farms all across the globe. The market in Europe is currently the largest market for offshore wind, followed by Asia-Pacific and North America. Growth in the region is primarily driven by the U.K., Germany, and Denmark. The U.K. is expected to dominate the offshore wind market.

The market in Asia-Pacific region is expected to grow at the second position followed by the market in Europe, due to its growing trends such as increasing urbanization and industrialization which is leading to higher demand in the power sector. The countries are focusing on power generation through renewable energy sources and the offshore wind forms an integral part of the renewable based power generation. Technological advancement and clean energy consumption would further propel wind power deployment and open up opportunities in the emerging markets of Asia-Pacific, especially in countries like China, Japan, and South Korea as they are looking for an alternative source of energy to diversify their energy mix to reduce CO2 emissions. The other major drivers include strict government regulations on energy efficiency.

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North America is estimated to be the fastest growing market for the offshore wind market from 2017 to 2022. The U.S. is the only country that had commercial offshore wind operations in this region as of 2016. This region is in the early phase of implementing offshore wind farms. They are partnering with other European countries to develop advanced technologies in order to efficiently install offshore wind turbines. According to the Department of Energy, the U.S. has the potential to produce 7,200 terawatt hours of electricity per year through offshore wind. North America is looking at renewable energy generation in a way to meet its energy needs at affordable costs and minimum environmental damage, thus, driving the market for offshore wind.

The leading players in the offshore wind market are Siemens AG (Germany), MHI Vestas Offshore Wind A/S (Denmark), ABB, Ltd. (Switzerland), EEW Group (Germany), Nexans (France), and A2Sea (Denmark), among others.

HVDC Converter Station Market Progresses for Huge Profits of $11.57 Billion by 2022

The HVDC converter station market is projected to reach USD 11.57 billion by 2022 from an estimated USD 7.90 billion in 2017, at a CAGR of 7.92%, during the forecast period. The market in Asia Pacific is projected to be the fastest growing followed by Europe during the forecast period. The growth is attributed to the requirement of efficient and economical bulk power transfer from major economies in the region. The growth of the HVDC converter station market is driven by the growth of renewable power generation across the world and it is one of the cheapest and safest way of transferring power over large distances.

The report segments the HVDC converter station market, based on component, into valves, converter transformers, circuit breakers, surge arresters, harmonic filters, reactors, and others. The valve segment is expected to account for the largest market share in the component segment as it is the most critical asset of converter stations. In the Asia Pacific region, the investments in power transmission are increasing due to increasing demand for power efficiency from major economies to meet energy requirement and increase the transmission efficiency.

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The report segments the HVDC converter station market, based on power rating, into below 500 MW,> 500–1000 MW, >1000–1500 MW, >1500–2000 MW, and above 2000 MW segments. The >2000 MW segment is projected to grow at the highest CAGR by 2022. Major economies such as China in Asia Pacific and the UK in Europe are facing challenges to carry large power over long distances to meet energy requirements in their countries. This drives the market for large power networks in China and the UK, thus, creating an opportunity for HVDC converter stations as it is the most economical method to carry bulk power over long distances.

Asia Pacific: The fastest growing market for HVDC converter stations
The market in Asia Pacific is estimated to be the fastest growing market for HVDC converter stations from 2017 to 2022. The increasing demand for power and increasing number of wind farms are the parameters contributing to the development of the HVDC converter station market, as the most economical way to connect the renewable power generation to the grid is through the HVDC VSC technology. In addition to this, the investments in power transmission and increasing requirement for bulk power transfer to meet energy requirements in countries like China and India are driving the HVDC converter station market in Asia Pacific.

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There are a few global players in the market and they have a strong regional presence and are established brand names. Leading players in the HVDC converter station market such as ABB, Siemens and General Electric.

Electric Insulator Market Comprehensive Insights and Trends to 2023

The electric insulator market is projected to reach USD 13.34 billion by 2023, from an estimated USD 10.17 billion in 2018, at a CAGR of 5.58%. In 2018, the market in Asia Pacific is estimated to be the largest, followed by North America. This growth can be attributed to the growing adoption of renewable energy sources, increasing investments in T&D networks, and refurbishment of existing grid networks across the globe. However, increasing availability of low-quality gray market products can hinder the growth of the market.

The electric insulator market, by end-user, is segmented into utilities, industries, and others. The industries segment is estimated to be the fastest growing during the forecast period. The industries segment includes sectors such as oil & gas, marine, manufacturing, and process that require extra safety for electrical equipment. Increasing investments and transition toward clean energy sources and microgrid establishments for renewable power integration would contribute to the growth of the industries segment during the forecast period.

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Target Audience:
· Component manufacturers and suppliers

· Consulting companies in the power sector

· Electric utilities

· Electrical insulators manufacturing companies

· Government and power research organizations

· Power grid infrastructure companies

· Power plant project developers

· Renewable energy companies

· State and national regulatory authorities

Application

· Transformer

· Cable

· Switchgear

· Busbar

· Surge Protection Device

· Others

The electric insulator market has been analysed with respect to 6 regions, namely, Asia Pacific, North America, Europe, South America, Middle East, and Africa. The market in Asia Pacific is estimated to be the largest electric insulator market, from 2018 to 2023. China and India are heavily investing in T&D infrastructure to meet the growing demand for electricity. North America is the second most lucrative markets for electric insulators as replacement and refurbishment of the existing infrastructure is the major requirement in the local T&D scenario. Meanwhile, Europe is another major market for electric insulators, since the concept of smart grid technologies is gaining momentum particularly among the European Union (EU) countries. A renewed focus on renewable sources of energy is being developed in countries such as Germany and the UK. These upcoming power generation sources are expected to push the growth of new T&D lines, which in turn would increase the requirements for electric insulators.

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The leading players in the electric insulator market are ABB Ltd. (Switzerland), General Electric, Siemens AG (Germany), Toshiba Corporation (Japan), and Aditya Birla Nuvo Ltd. (India).

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Ceramic Tube Market to Set Phenomenal Growth by 2022

According to the new market research report "Ceramic Tube Market by Material Type (Alumina and Zirconia), Application (Electronics and Electrical and Medical and Healthcare), and Region (North America, South America, Asia-Pacific, Middle East and Africa, and Europe) - Global Forecast to 2022", published by MarketsandMarkets™, The ceramic tube market is expected to grow from an estimated USD 691.1 Million in 2017 to USD 993.3 Million by 2022, at a CAGR of 7.52%, from 2017 to 2022. This growth can be attributed to the increased demand for electrical transmission and distribution equipment and the replacement and refurbishment of existing power infrastructure.

The global ceramic tube market, by application, is segmented into electronic and electrical, medical and healthcare, and other, which includes spark plugs. Electronic and electrical applications include vacuum interrupters, power grid tubes, insulators, and capacitors. The growing demand for renewable energy as well the increasing demand for power transmission and distribution equipment is driving the electronic and electrical segment. The medical and healthcare application segment includes ceramic tube used in X-ray tubes for insulation while the others segment includes spark plugs where ceramic tubes are used as insulating envelopes.

The report further segments the electronic and electrical applications segment into the end-use of vacuum interrupters in various power equipment. The vacuum interrupter segment has been segmented, by end-use, into circuit breakers, contactors, re-closers, load break switches, and tap changers. The market for ceramic tube for vacuum interrupter is mainly driven by the growing demand for power equipment, especially in countries such as China, India, and the U.S. The re-closers and circuit breakers markets are expected to grow at a relatively high CAGR from 2017 to 2022. The stringent environmental norms for SF6 -based circuit breakers is one of the primary factors that are expected to drive the vacuum interrupter-based circuit breakers market, from 2017 to 2022.

Asia-Pacific: the leading market for ceramic tube

In this report, the ceramic tube market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The market in Asia-Pacific is expected to lead the ceramic tube market, by region, due to the growth of the manufacturing sectors in countries such as China, India, South Korea, and Japan. The market in Asia-Pacific is the largest, by size, and is estimated to grow at the highest rate due to rapid demand for power transmission and distribution equipment in China. Increased investments in the manufacturing sector combined with power generation infrastructure in China, India, and other fast-growing emerging economies in the region, such as Indonesia, has led to a surge in the demand for vacuum interrupters, capacitors, and insulators, thus, driving the ceramic tube market in the region. An increased investment in the manufacturing of automotive parts such as spark plugs in China, Japan, and India is further expected to drive the market for ceramic tube.

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The major Players of ceramic tube market include Kyocera Corporation (Japan), CeramTec GmbH (Germany), CoorsTek, Inc. (U.S.), Morgan Advanced Materials (U.K.), and Carborundum Universal, Ltd. (India).

Digital Utility Market Latest Trends and Forecast to 2022

According to the new market research report "Digital Utility Market by Network (Generation, Transmission and Distribution, and Retail), Technology (Hardware and Integrated Solutions (Cloud and Software, Services)), and Region (North America, Europe, and Asia-Pacific) - Global Forecast to 2022", published by MarketsandMarkets™, Global digital utility market is projected to grow at a CAGR of 12.57%, from 2017 to 2022, to reach a market size of USD 244.31 billion by 2022. North American market held the largest share in 2016 followed by the markets in Europe and Asia-Pacific. However, by 2022, the market in Asia-Pacific is projected to gain the largest share. Digital utility market growth is driven by strict regulatory requirements for electric utilities, energy efficiency mandates demanding carbon emission reduction, and increase in the number of distributed and renewable power generation projects.

The digital utility market in Asia-Pacific is projected to grow at the fastest rate during the forecast period. Increasing investment in the electrical infrastructure and growing decentralized power generation will be driving the growth of the digital utility market in the region during the forecast period. The developing smart grid projects and investments in smart cities are also driving the digital utility market in Asia-Pacific.

The growth of the transmission and distribution segment is primarily driven by aging infrastructure in the power utilities industry. New digital devices and communications and control systems improve the efficiency of assets and increase the ability of operators to monitor and manage electric transmission and distribution systems. This would ultimately create new revenue pockets for the digital utility market during the forecast period.

North America: The largest market for digital utility
The market in North America is currently the largest market for digital utility, closely followed by the European market. Rising investments in aging electrical infrastructure and increasing electricity demand are driving the digital utility market in the North America. The market in the U.S. is estimated to be the largest in the region, followed by the markets in Canada and Mexico, during the forecast period.

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The leading players in the digital utility market includes Accenture plc (Ireland), Cap Gemini S.A. (France), Cognizant Technology Solutions Corporation (U.S.), General Electric Company (U.S.), Siemens AG (Germany), SAP SE (Germany), International Business Machines Corporation (U.S.), and Oracle Corporation (U.S.), among others.

Advanced Energy Storage Systems Market Outlook 2022 | Global Opportunity & Growth Analysis

According to the new market research report "Advanced Energy Storage Systems Market by Technology (Electro Chemical Technology, Mechanical Technology, Thermal Storage Technology), by Application (Transportation and Grid Storage), and Region - Global Forecast to 2022", published by MarketsandMarkets™, The advanced energy storage systems market is expected to grow from an estimated USD 12.73 Billion in 2017 to USD 19.04 Billion by 2022, registering a CAGR of 8.38% from 2017 to 2022. The market in Asia Pacific is estimated to be the largest for advanced energy storage systems, followed by the market in North America in 2017. This trend is expected to continue till 2022. The growth of the advanced energy storage systems market is driven by the increasing investments in renewables and regulations demanding energy efficiency and growing market for electric vehicles around the world.

The report segments the advanced energy storage systems market, on the basis of technology, into electro chemical, thermal storage, mechanical, and others. The lithium-ion sub-segment, within the electro chemical segment led the market in 2016, and is projected to dominate the market during the forecast period. Moreover, technological advancements and growing deployment of lithium-ion batteries is expected to result in economies of scale, which would lower the cost for this technology, further driving the growth in the market.

The advanced energy storage systems market has been segmented based on application, into transportation and grid storage. The growth in this segment is primarily driven by increasing deployment of lithium-ion batteries in the electric vehicles market. Moreover, grid expansion and investment in modern infrastructure in developing countries also present opportunities for growth.

In this report, the advanced energy storage systems market has been analyzed with respect to four regions, namely, North America, Europe, Asia Pacific, and the rest of the world. The market in Asia Pacific is expected to dominate the global advanced energy storage system market, during the forecast period, owing to increasing number of electric vehicles in the region, especially in China. The Asia Pacific energy storage systems market is expected to dominate the global AESS market, with the highest share. The region is expected to maintain its dominance in the energy storage systems market during the forecast period.

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The advanced energy storage systems market is dominated by a few global players. The key players operating in this market include ABB Ltd. (Switzerland), LG Chem, Ltd. (South Korea), Samsung SDI Co., Ltd. (South Korea), General Electric Company (US), and Tesla, Inc. (US).

Gas Turbines Market Detail Analysis focusing on Key Players like GE, Siemens, MHPS and Ansaldo etc.

According to the new market research report "Gas Turbines Market by Technology (Open Cycle and Combined Cycle), Rating Capacity (Less than 40 MW, 40-120 MW, 120-300 MW, and Above 300 MW), Design Type (Heavy Duty and Aeroderivative), Application (Power and Oil & Gas), and Region - Global Forecast to 2022", published by MarketsandMarkets™, The gas turbines market is expected to reach USD 19.6 billion by 2020, at a CAGR of 3.9% during the forecast period. Increasing demand for electric power worldwide and subsequent investments in creating new generating capacity is driving the gas turbines market across the world. The shale gas boom in North America and decommissioning of nuclear plants in Europe are likely to boost the demand for gas turbines in these two regions. Meanwhile, the demand for gas turbines in the Middle East & Africa, Latin America, and Asia-Pacific would be influenced by the upcoming new gas-fired power plants as well as the upgrade of old existing thermal power plants.

The combined cycle power plants segment was the largest market and is estimated to account more than two-thirds of the total market. Combined cycle power plants are similar to open cycle power plants, except, in combined cycle plants, the waste heat from gas turbines is used to make steam to produce additional electricity using steam turbines. The initial costs for installation and the investments required till the commissioning of combined cycle power plants are high. Combined cycle power plants help lower the total emissions since the exhaust is utilized for other operations.

The report segments the gas turbines market, on the basis of application, into power generation, oil & gas, and other industrial applications. The power generation segment is expected to grow at the fastest rate during the forecast period. An increase is expected in the demand for combined cycle power plants as they offer low carbon dioxide emissions and higher efficiencies. In the oil & gas application, gas turbines are used to pump natural gas through pipelines where a small part of the pumped gas serves as the fuel. Industrial gas turbines range from 1,000 to 50,000 HP, with a majority installed in the oil & gas industry. Other industrial applications use gas turbines to run compressors or mechanical drives, which help in various industrial processes.

Asia-Pacific: The largest market for gas turbines

The Asia-Pacific region is currently the largest market for gas turbines, followed by Europe and North America. Japan accounted for a majority share in Asia-Pacific in 2014, while China is projected to grow at the highest CAGR from 2015 to 2020. The slowdown in the nuclear power industry due to the Fukushima incident and continuing replacement of nuclear & aging coal plants with gas-fired ones would continue to drive the Japanese gas turbines market. In developing countries such as China and India, factors such as strong growth in demand for electricity fueled by high levels of urbanization, industrialization, & infrastructural developments and subsequent investments in developing new large-gas fired combined cycle power generation, apart from other power plants, would spur the demand for gas turbines.

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Some of the key players operating in the gas turbines market include General Electric Company (U.S.), Siemens AG (Germany), Mitsubishi Hitachi Power Systems, Ltd. (Japan), and Alstom S.A. (France) among others.

Gas Insulated Switchgear Market is Expected to Grow at a High Rate as Transmission and Distribution Sector Expands

According to the new market research report "Gas Insulated Switchgear Market by Type, Voltage (medium, high, extra high, ultra-high), Installation, End-User (Transmission Utilities, Distribution Utilities, Generation Utilities, Transportation, Industry & OEMs) and Region - Global Forecast to 2023", published by MarketsandMarkets™, The global gas insulated switchgear market is projected to reach a market size of USD 28.09 billion by 2023, growing at a CAGR of 8.73% during the forecast period. In 2018, the market in Asia Pacific is estimated to be the largest for gas insulated switchgear, followed by Europe. This trend is expected to continue till 2023. The growth of the gas insulated switchgear market is driven by the growth in renewable power generation, increasing investments in the transmission and distribution infrastructure, the rise in energy demand, limitations of space availability in densely populated urban areas, and government initiatives toward improving electricity access.

The report segments the gas insulated switchgear market, by type, into high voltage gas insulated switchgear and medium voltage gas insulated switchgear. Medium voltage gas insulated switchgear market is expected to grow at the highest CAGR during the forecast period. This segment is driven due to rapid improvement in the power distribution sector through the implementation of smart grid and smart metering technology, gas insulated switchgears are gaining importance over conventional switchgear and air insulated switchgear.

The gas insulated switchgear market, by end-user, is segmented into power transmission utility, power distribution utility, power generation utility, infrastructure & transportation, and industries & OEMs. Power distribution utility is expected to grow at the highest CAGR during the forecast period. Space constraint is one of the major challenge in the development of distribution grid infrastructure projects which can be overcome by GIS substations and create new revenue pockets.

Asia Pacific is the largest gas insulated switchgear market, in terms of production as well as consumption in various utilities and industries. It is the most populated region in the world and consequently witnesses a high demand for electricity. Countries such as China, Japan, and India are investing in their grid expansion projects to increase distribution grid reliability. China accounted for the largest share of the gas insulated switchgear market in Asia Pacific in 2016 and has the highest installed generation and distribution capacity. The country, which is an export-oriented economy, has witnessed exponential growth in the demand for electricity in the past couple of decades, fueled by industrialization and infrastructural developments. Almost all the countries in the region are augmenting their generation capacities. India, China, and Indonesia are investing heavily in their hydroelectric power projects; Japan, China, and India are emphasizing on nuclear and solar power generation to meet their increasing energy demand. This has led to rise in investments in the transmission & distribution sector by connecting renewable energy generation to the grid and is expected to drive the growth of the gas insulated switchgear market in Asia Pacific.

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The gas insulated switchgear market is dominated by a few major players that have a wide regional presence and are established brand names. The leading players in the market include ABB (Switzerland), Siemens (Germany), Hitachi (Japan), Toshiba (Japan), and Nissin Electric (Japan).

Pressure Vessel Market Future Trends and Opportunities to 2021

According to the new market research report "Pressure Vessel Market by End-User Industry (Chemicals, Oil & Gas, Power, & Others), by Type (Boilers, Nuclear Reactors, Separators, & Others), by Material (Steel Alloys, Other Alloys, & Composites), & by Region (Asia-Pacific, North America, Europe, the Middle East & Africa, and South America) - Global Forecast to 2021", published by MarketsandMarkets™, The pressure vessel market is expected to reach USD 184.87 billion by 2021, at a CAGR of 5.38% from 2016 to 2021. Power generation capacity addition and change in energy trends are the reasons behind the boost in its demand. In addition, end-user industries are deploying pressure vessels for power generation and processing raw materials to produce the final product, primarily in the chemicals & petrochemicals industry.

Pressure vessel is a container used to contain fluids and gases at pressure levels greater than that of atmospheric pressure. It is one of the key equipment majorly used in power generation and the chemicals industry. Factors such as rapid growth in the Middle East chemical industry, changing trends in the energy sector, and growing power generation capacity have led to increasing deployment of pressure vessels. Modernization of existing power infrastructure and rapid urbanization in developing economies has increased the usage of pressure vessels. These are the major reasons behind the growth of the pressure vessel market.       

Boilers are the largest segment among the type of pressure vessels. The boilers segment within the pressure vessel market is expected to have the highest growth from 2016 to 2021, given its increasing usage in the power generation sector. This market is expected to witness the maximum growth in the Asia-Pacific region.

Asia-Pacific is expected to emerge as the new hot spot in the market during the forecast period. The region is likely to witness increased deployment of pressure vessels. The reason behind the same is modernization of existing power infrastructure in countries such as China and India. Renewable energy generation is likely to offer growth opportunities to pressure vessel manufacturers. Companies such as Mitsubishi Heavy Industries, Ltd. (Japan), Babcock and Wilcox Enterprises, Inc. (U.S.), and Doosan Heavy Industries & Construction (South Korea) are focusing on contracts & agreements to enhance their presence in the region.

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Some of the leading players in the pressure vessel market are Mitsubishi Heavy Industries, Ltd. (Japan), Babcock and Wilcox Enterprises, Inc. (U.S.), Doosan Heavy Industries & Construction (South Korea), Bharat Heavy Electricals Limited (India), and Larsen & Toubro Limited (India).

Switchgear Monitoring System Market to Capture Unparalleled Growth with a 7.83% CAGR by 2023

According to the new market research report "Switchgear Monitoring System Market by Switchgear Type (GIS, AIS), Component (Hardware, Software) End-User (Utilities, Industries, Commercial, Others), Voltage (Medium, High), Monitoring Type (Temperature, PD, Others), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Switchgear Monitoring System Market is projected to reach USD 2.0 billion by 2023 from an estimated USD 1.4 billion in 2018, at a CAGR of 7.83%. As the global demand for electricity is increasing at a very high rate, to meet the rising power demands, new power plants are being installed at a rapid pace. This would drive the demand for switchgear monitoring system.

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The high voltage segment is expected to hold the largest share of the Switchgear Monitoring System Market, by voltage, during the forecast period.

The high voltage segment is estimated to dominate the Switchgear Monitoring System Market in 2018 and is projected to have the largest market share during the forecast period. This is mainly due to the fact that high voltage switchgears are primarily used in power transmission over long distances. In the case of critical substations and switchyards of large power generation plants, switchgears are used for reliability and protection of the grid infrastructure.

The partial discharge monitoring segment is expected to be the fastest growing segment of the Switchgear Monitoring System Market, by monitoring type, during the forecast period.

The partial discharge monitoring segment accounted for the highest CAGR during the forecast period. Partial discharge monitoring adopts various methods to detect cracks and defects in insulations such as Transient Earth Voltage (TEV), Ultra-High-Frequency (UHF), and Acoustical Emission (AE). Partial discharge monitoring includes partial discharge sensors, local readers such as RTU/PLC, HMI, data storage, and communication protocols. This system enhances operator safety and provides confidence in the reliability and safety of electrical equipment.

Asia Pacific: The leading market for switchgear monitoring system.

In this report, the Switchgear Monitoring System Market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. As per the Indian Electrical and Electronics Manufacturers Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfil the increasing demand. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3–4 years. Also, India is undertaking a lot of smart grid and substation projects to fulfill the growing demand for energy. This would create demand for the switchgear monitoring system in the region.

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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 Switchgear Monitoring System Market. Some of the key players are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Emerson (US). The leading players are adopting various strategies to increase their shares in the Switchgear Monitoring System Market.

Directional Drilling Services Market Key Opportunities and Forecast to 2021

According to the new market research report "Directional Drilling Services Market by Application (Onshore, and Offshore), Type (Conventional, and Rotary Steerable System), Service (LWD, MWD & Survey, RSS, Motors), and Region - Global Forecast to 2021", published by MarketsandMarkets™, The Directional Drilling Services Market is expected to grow from an estimated USD 8.33 Billion in 2016 to USD 10.30 Billion by 2021, at a CAGR of 4.34% from 2016 to 2021. Increasing demand for energy due to urbanization & industrialization, ongoing shale gas revolution and new oilfield discoveries are the major factors driving the market for directional drilling across the globe.

Directional drilling is the practice of controlling the trajectory and deviation of the well during drilling operations, along a planned path to explore the oil from a targeted position in the typical geologic structural oilfields.  Increasing demand for energy due to urbanization & industrialization, ongoing shale gas revolution and new oilfield discoveries are the major factors driving the market for directional drilling across the globe.

the directional drilling services market in this report has been classified based on the following segments, namely, rotary steerable system (RSS), Logging While Drilling (LWD), Measurement While Drilling (MWD) & survey, motors and others (includes directional drilling technologies and systems such as well bore positioning, automated drilling systems, side tracking, well planning, hydraulics, torque, and drag analysis). The RSS segment dominated the directional drilling services market in 2016 due to the increase in the horizontal drilling activities associated with the development of shale gas mainly in countries such as China. According to the 12th five year plan in China, the country planned on increasing its natural gas consumption to 9,200 Bcf by 2015 as it looks to replace coal as a chief energy source. Hence, the market size of the RSS is the largest.

North America: The leading market for directional drilling services

North America is currently the largest market for directional drilling services, and the Middle East is projected to grow at the highest CAGR during the forecast period. In North America, most of the directional and horizontal wells are drilled in onshore reservoirs. In North America, the growth of the directional drilling services market can be attributed to factors such as ongoing shale gas developments in countries like U.S. and Canada.  U.S. accounted for the majority share in North America in 2016. Technological advancements in drilling (long-reach horizontal well bores) and completion techniques (multi-stage hydraulic fracturing) are increasing the outlook for the supply of crude oil in North America. The figure given below shows the regional scenario of the directional drilling services market from 2016 to 2021.

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Some of the leading players in the directional drilling services market include Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International plc. (Switzerland), National Oilwell Varco, Inc. (U.S.), among others.