Offshore Wind Market: Rising Energy Demand Coupled With Increasing Share of Renewable Energy in the Power Generation Mix

The offshore wind market has been rapidly growing, especially in Europe as it contributed to the European Union (EU) to meet its renewable energy targets for 2020.  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 growth of the offshore wind market is driven by an increasing share of renewable energy in power generation, energy efficiency mandates demanding carbon emission reduction, and government incentives supporting renewable energy deployment. 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 market.

Offshore Wind Market is projected 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.

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The North America market is projected to grow at the highest CAGR from 2017 to 2022. 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.

Scope of the Offshore Wind Market Report:

By Component

·         Turbine

§  Nacelle

§  Tower

§  Rotor & Blades

·         Substructure

§  Monopile

§  Gravity based and Jacket

§  Other substructure (Suction Bucket, Tripods, Tripiles, and Floating)

·         Electrical Infrastructure

·         Others (Logistics and transportation, and Installation and assembly)

By Location

·         Shallow water (< 30 m depth)

·         Transitional water (30 m–60 m depth)

·         Deep water (> 60 m depth)

By Region

·         North America

·         Europe

·         Asia-Pacific

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Offshore Wind Market Ecosystem:

The market ecosystem comprises of turbine manufacturers, electrical infrastructure manufacturers, installation providers, substructure providers, and logistics, transportation and assembly providers. Leading players in the market includes Siemens AG (Germany), ABB, Ltd. (Switzerland), A2Sea (Denmark), Nexans (France), EEW Group (Germany), and General Electric (U.S.) among others. 

The report segments the offshore wind market by location into three categories, namely, shallow water, transitional water, and deep water. Deep water location is expected to grow at the fastest rate during the forecast period. As the offshore wind market is progressing over the years, the offshore wind farms are getting built further from the coast and in deeper waters. The offshore wind sector is developing larger turbines as the trend is moving towards deep water where the wind speed is high. This would help in optimization of wind connections and generate power efficiently. Although, the market for offshore wind in deep water location accounts less share compared to shallow water and transitional water. It is still expected to grow at a faster rate from 2017 to 2022. Companies like MHI Vestas (Denmark), A2Sea (Denmark), and Siemens AG (Germany), among others supply turbine and related components that can operate in a depth of 60 meters.

Concentrating Solar Power Market: Market Breakdown, Data Triangulation & Research Assumptions

The global concentrating solar power market is witnessing significant growth due to rising environmental concerns over carbon emissions and efforts to reduce air pollution, policy support from governments to enable adoption of renewable technologies.

The concentrating solar power market is expected to grow from an estimated USD 6.7 Billion in 2016 to USD 10.96 Billion by 2021, registering a CAGR of 10.3% from 2016 to 2021.

                        

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Parabolic Trough segment is expected to hold the largest share of the concentrating solar power market, by technology, during the forecast period

The parabolic trough segment led the overall concentrating solar power market in 2015. Parabolic trough systems are applicable in all types of end-user industries such as utilities, Enhanced oil recovery, and other end users such as mining and desalination among others. Parabolic trough technology is most commercialized and mature technology in the CSP technology arena.

Utilities are expected to hold the largest market share of the concentrating solar power market, by end-users, during the forecast period

The utilities segment is expected to hold the largest share in the concentrating solar power market during the forecast period. Utilities sector includes utility scale power generation projects located at islands or on/off-grid areas. Dispatchable power is the key driving factor for CSP that creates huge opportunity for implementing concentrating solar power projects in areas with high solar irradiance.

The Middle East & Africa is the largest market for concentrating solar power

In this report, the concentrating solar power market has been analyzed with respect to five regions, namely, the North America, Europe, Asia-Pacific, South America and the Middle East & Africa. The Middle East & Africa is estimated to be the largest market for concentrating solar power till 2021. Middle East & African countries have high solar irradiance which provides a huge opportunity to implement concentrating solar power at utility scale.

Scope of the Report -

By Technology, the Concentrating Solar Power Market has been segmented into the following:

·         Parabolic Trough

·         Solar Tower

·         Linear Fresnel

·         Dish/Engine Systems

By End User, the Concentrating Solar Power Market has been segmented into the following:

·         Residential

·         Commercial

·         Industrial

By Component, the Concentrating Solar Power Market has been segmented into the following:

·         Solar Field

·         Power Block

·         Thermal Energy Storage System

By Region, the Concentrating Solar Power Market has been segmented into the following:

·         North America

·         South America

·         Europe

·         Asia-Pacific

·         Middle East & Africa

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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the concentrating solar power market. These players include Abengoa Solar (Spain), Aalborg CSP (Denmark), ACWA Power (Saudi Arabia), BrightSource Energy, Inc. (U.S) and eSolar Inc (U.S), among others. Leading players are trying to penetrate the markets in developing economies and are adopting various strategies to increase their market share.

Synchronous Condenser Market Competitive Analysis and Global Opportunities to 2021

The synchronous condensers market is projected to grow from an estimated USD 515.3 Million in 2016 to USD 572.9 Million by 2021. The growth is attributed to increasing renewable power generation, long service life, and rising need for power factor correction. Existing and planned upgradation and expansion of High-Voltage Direct Current (HVDC) network across the globe in various regions is expected to increase demand for power factor correction equipment such as synchronous condenser.

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Increasing renewable power generation to drive the global synchronous condenser market demand close to USD 600 million by 2021

Synchronous condenser key application lies in power generation from renewable sources fed to the main transmission grid.  A synchronous condenser is preferred over its substitutes due to its short-circuit power capability, no harmonics, and inertia to the transmission grid.The global synchronous condenser market size is projected to reach USD 572.9 Million by 2021, largely due to long service life, increasing renewable power generation, and rising need for power factor correction. Ongoing new product developments by leading companies for new applications of condensers are likely to propel further growth of the synchronous condenser the long-term forecast.

High maintenance and equipment cost could hamper the growth of the synchronous condenser market.

Renewable sources are gaining in contribution to the global power generation mix. However, renewable sources offer poorer power quality resulting in weak grid stabilities. Synchronous condenser offers key technology to mitigate this challenge. However, it is associated with high initial costs, owing to large-scale use of expensive raw materials such as aluminium and copper. Usually, new synchronous condensers installation cost runs to hundreds of thousands of USD/MVAr, while converting generators into synchronous condensers or refurbishment cost ranges between USD 20,000/MVAr–USD 50,000/MVAr. This makes the synchronous condenser less popular than alternatives such as STATCOM, shunt reactors, and capacitor banks.

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North America is expected to dominate the global synchronous condensers market

Rising demand for synchronous condensers in Canada, especially new installations and conversion of old power plants to synchronous condensers in the U.S. would drive the synchronous condenser market in North America. Many thermal power plants are being shut down in the U.S. to curb pollution and promote renewable power generation. This is also likely to create a huge demand for synchronous condensers in the region.

Some of the leading players in the synchronous condenser market include Siemens AG (Germany), General Electric (U.S.), Eaton Co. Plc. (Ireland), ABB Ltd. (Switzerland), Voith GmbH (Germany), Fuji Electric Co., Ltd. (Japan), Toshiba Corporation (Japan), and Hyundai Ideal Electric Co. (U.S.) among others. 

Turbocompressor Market: Oil & Gas Industry to Grow at the Fastest Rate During the Forecast Period

The turbocompressor market is projected to grow from an estimated USD 12.15 Billion in 2016 to USD 15.81 Billion by 2021, at a CAGR of 5.4%. Increasing LNG trade between nations, the growing demand for energy, and investments in sectors other than oil & gas are expected to drive the market for turbocompressor.

Oil & gas sector to dominate the turbocompressor market during the forecast period

The turbocompressor market has been segmented according to application into oil & gas, power generation, chemical, and others. The oil & gas sector accounted for approximately 50% of the market share in 2015. The growing number of LNG projects will likely increase the demand for turbocompressor. This is expected to drive the market for turbocompressors in the oil & gas sector.

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Axial turbocompressor to hold the largest share of the turbocompressor market, by type, during the forecast period

The turbocompressor market has been segmented on the basis of type into axial and centrifugal turbocompressors. Centrifugal turbocompressors are estimated to dominate the market. Axial turbocompressor are used as compressors in gas turbines and in the steel and chemical industries. These turbocompressors are primarily used for applications that require a high intake volume of flow, and are more efficient than centrifugal turbocompressor. Most axial turbocompressor produce pressures higher than 100 psi, at intake volumes between 23,500 acfm to 588,500 acfm. The market for axial turbocompressor is expected to grow at the highest CAGR during the forecast period.

North American turbocompressor market to witness the highest growth during the forecast period

The report covers six regions, namely, North America, Asia-Pacific, Europe, the Middle East, South America, and Africa. The turbocompressor market in North America is expected to witness the highest growth from 2016 to 2021, owing to the growing manufacturing sector in the region. The increase in the LNG trade between nations would drive the North American turbocompressor market, as turbocompressors are used for gas transportation and storage.

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The report also provides an in-depth analysis of the competitive landscape, along with profiles of leading market players such as Atlas Copco AG (Sweden), GE Oil & Gas (U.K.), Siemens AG (Germany), Ingersoll Rand (Ireland), Hitachi Ltd. (Japan), and Mitsubishi Heavy Industries, Ltd. (Japan).

Lighting as a Service Market: Countries in North America & Europe to Lead Growth During the Forecast Period

According to the new market research report "Lighting as a Service Market by End-User (Commercial, Municipal, and Industrial), Installation (Indoor, and Outdoor), Component (Luminaires, Software & Communication Systems, and Maintenance Services), and Region - Global Forecast to 2021", published by MarketsandMarkets™, The lighting as a service market is expected to grow from an estimated USD 95.3 Million in 2016 to USD 638.68 Million by 2021, growing a CAGR of 46.3% from 2016 to 2021. The global market is witnessing significant growth on account of the increase in demand for energy efficient lighting systems, and government policies supporting adoption of energy efficient lighting systems over traditional lighting. Increasing convergence of Internet of Things (IoT) with lighting is also expected to drive the demand for the lighting as a service market across the globe.

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50 - Figures

146 - Pages

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The indoor segment is expected to hold the largest share in the lighting as a service market, by installation, during the forecast period

The indoor segment led the overall lighting as a service market in 2015, owing to the increasing electricity demand from the commercial sector. However, the outdoor segment is expected to register the higher growth rate during the forecast period. Increasing convergence of IoT for street lighting design and efficient utilization is the main driver behind the growth of the outdoor installation segment in the lighting as a service market. Outdoor installation covers street lighting, park and recreational areas, and parking garages, among others.

Commercial segment is expected to be the dominant end-user in the global lighting as a service market

The commercial segment is expected to dominate the global lighting as a service market during the forecast period, whereas the municipal segment is expected to constitute the fastest growing segment, by end-user. Energy savings and cost reductions promised by lighting as a service constitute an attractive offer for commercial end users in view of the increasing corporate focus on sustainability and energy efficiency.

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North America: The leading market for lighting as a service

North America is expected to dominate the global lighting as a service market, and is driven by demand from commercial establishments keen to leverage the cost saving potential of efficient lighting systems and government policy support to phase out traditional lighting systems to reduce energy consumption in the region. It is closely followed by Europe.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the lighting as a service market. These players include Koninklijke Philips N.V (Netherlands), General Electric Lighting (U.S.), Zumtobel Group AG (Austria), SIB Lighting (U.S.), Lunera Lighting (U.S.), Igor Inc. (U.S.) and Cree Inc. (U.S.). 

The Subsea Systems Market growth is attributed to increasing focus on oil & gas production from offshore fields

The subsea systems market is expected to grow from an estimated USD 15.78 Billion in 2016 to USD 17.44 Billion by 2021, at a CAGR of 2.02% during the forecast period. Despite steep revenue declines 2015 onwards, the global market is set to witness growth after 2018 due to the increasing production from deepwater fields. Offshore exploration and production investments in Africa and Asia-Pacific region will also boost the market growth.

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Subsea Production: The largest segment by type

The subsea systems market has been broadly classified on the basis of type into production system and processing system. Subsea production system segment accounted for the largest share of the market in 2015, while subsea processing system segment is projected to grow at a faster pace among the two segments. Subsea production will witness demand from continuing deepwater activities in Africa, the U.S. Gulf of Mexico, and South America. The subsea processing system market will be driven by the need for improving recovery rates in shallow water fields, particularly across the North Sea.

SURF: Biggest market by subsea production technology

Subsea Umbilicals Risers and Flowlines (SURF) are important equipment in subsea production systems. Umbilical system is a bundled arrangement of piping, tubing, and electrical conductors which are bounded in armored sheath. The primary application of umbilical is to transmit control fluids. It is also used to monitor pressures and inject fluids. The rising focus on deepwater drilling is the major driver for the SURF market. Moreover, the oil discoveries in emerging economies, especially in Africa, provide further positive contributions to the subsea systems market.

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Europe: The largest market for subsea systems

The European region was the largest estimated market for subsea systems in 2015, driven largely by the developments in Norway and the U.K. These developments took place due to policy changes by governments to increase the production. Moreover, the offshore oil reserves in the U.K. and Norway provide attractive business opportunities for major oil operators to invest which will further drive the subsea systems market.

Some of the top players in the subsea systems market include Subsea 7 (U.K.), FMC Technologies (U.S.), GE Oil & Gas (U.S.), Aker Solutions (Norway), One Subsea (U.S.), Technip (France), Dril-Quip, Inc. (U.S.), and Kongsberg Oil & Gas Technologies (Norway).

Offshore ROV Market: Increasing Offshore Oil & Gas Drilling and Exploration Activities Across the World

The offshore ROV market is estimated to be USD 802.9 million in 2018 and is projected to reach USD 943.1 million by 2023, at a CAGR of 3.27% from 2018 to 2023. The market is set to grow due to increasing offshore oil & gas discoveries in prominent countries and rise in demand for oil & gas.

The offshore ROV market has been segmented, by application, into Drilling and Well Completion Support, Construction Support, Inspection Repair & Maintenance Services, Remote Subsea Intervention Tooling Design and Build, and Subsea Engineering Services. The Drilling and Well Completion Support segment is estimated to hold the largest market share by 2023. The market growth in the segment is driven by the increasing deep water offshore activities in Angola and ultradeep water in Brazil.

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Middle East & Africa expected to be the largest market for offshore ROV during the forecast period.

The Middle East & Africa is expected to dominate the offshore ROV market during the forecast period. The rise in offshore deep and ultra-deep water activities is driving the offshore ROV market in the Middle East & Africa region. The increasing activities of offshore exploration and production in countries such as Angola, UAE, Nigeria, etc. will drive the offshore ROV market in the Middle East & Africa region.

Oceaneering (US), Subsea 7 (UK), Fugro (Netherlands), TechnipFMC (UK), Saipem (Italy), Forum (US), DOF (Norway), ECA (France), Deep Ocean Group (Norway), ISE (Canada), Deep Ocean Engineering (US), and AC-CESS (Scotland) are the key players in the market.

Blockchain in Energy Market Projected to reach $7.11 Billion by 2023 | Key Players include Microsoft, Accenture, Infosys, SAP etc.

The blockchain in energy market is expected to grow from an estimated USD 394.3 million in 2018 to USD 7,110.1 million by 2023, at a CAGR of 78.32%. Increasing popularity of the blockchain technology in the energy sector and the rising security concerns across the globe are likely to drive the blockchain in energy market.

The services segment led the blockchain in energy market in 2017, as most of the companies are tying up with various blockchain startups to implement blockchain operations such as energy trading, grid management, and supply chain management. Energy trading includes peer-to-peer energy trading, smart contracts, and real-time pricing, which would help increase transparency between transactions, data management, data visibility, and inter-system communications.

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Europe: The leading market for blockchain in energy market

In this report, the blockchain in energy market has been analyzed with respect to 4 regions, namely, Asia Pacific, North America, Europe, and RoW. Europe led the global blockchain in energy market in 2017 owing to the maximum number of blockchain startups and implemented projects along with the incorporated regulatory support from the government. Germany and the UK are the largest markets for blockchain in energy market in the region. Moreover, most of the utility companies such as Enel (Italy), RWE (Germany), and Vattenfall (Sweden) are collaborating with Ponton’s (Germany). The collaboration revolves around for the Enerchain project that focuses on blockchain technology in the energy sector to bring peer-to-peer trading to the wholesale energy market. Therefore, factors such as increasing investments towards the adoption of blockchain platform are driving the blockchain in energy market in the region.

Some of the top players in the blockchain in energy market include Microsoft (US), Accenture (Ireland), IBM (US), Infosys (India), and SAP (Germany).

Distributed Generation Market Growth is Driven by Increased Demand for Flexible and quick Start-up Technologies for Power Generation

The distributed generation market is expected to grow from an estimated USD 60.04 Billion in 2017 to USD 103.38 Billion by 2022, at a CAGR of 11.48%. The market is set to witness growth, due to increasing mandates to reduce global greenhouse gas emissions and rising demand for electricity from the industrial, commercial, and residential sectors.

The on-grid segment is expected to hold the largest share of the distributed generation market, by application, during the forecast period

On-grid systems are cost-effective and convenient to install. The global market for distributed generation facilities that employ grid-tied arrangements has been the highest. Driven by the capability to provide perfect solutions for various end-users and contribution to reduce harmful emissions from fossil fuel power plants, the segment is expected to grow at a decent pace during the forecast period.

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Europe: Expected to be the leading market for distributed generation during the forecast period

In this report, the distributed generation market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The European market is expected to lead the distributed generation market, by region. The increasing demand for electrical energy due to urbanization and industrialization, as well as rising government mandates to achieve sustainable goals, is likely to drive the market during the forecast period in the region.

Some of the top players in the distributed generation market include Siemens (Germany), GE (US), Schneider (France), Mitsubishi (Japan), Capstone (US), and Doosan (South Korea). 

Offshore Wind Market Revenue to hit $55.11 Billion by 2022

The offshore wind market is projected to reach USD 55.11 billion by 2022, at a CAGR of 15.32% from 2017 to 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 market. The offshore wind market 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.

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.

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With regard to the substructure segment, others segment which includes floating substructure, is expected to grow at the fastest pace during the forecast period from 2017 to 2022. These types of substructure allow the turbines to generate electricity in deep water location where bottom-mounted towers are not feasible. Countries like the U.S. and japan have favourable deep water location for the installation of turbines. Floating substructures would grow at a faster pace because they offer environmental benefits due to less construction activity required on the seabed and would be suitable for deep water locations.

The offshore wind market is dominated by a few key players such as Siemens AG (Germany), MHI Vestas Offshore Wind A/S (Denmark), ABB, Ltd. (Switzerland), EEW Group (Germany), Nexans (France), and A2Sea (Denmark), among others.

DC Circuit Breaker Market 2019 Studies and Business Outlook to 2024

According to the new market research report "DC Circuit Breaker Market by Voltage (Medium Voltage and High Voltage), Type (Solid-State and Hybrid), Insulation (Vacuum and Gas), End-User (T&D utilities, Power generation, Renewables, and Railways) and Region - Global Forecast to 2024", published by MarketsandMarkets™, the DC Circuit Breaker Market is expected to grow from an estimated USD 2.3 billion in 2019 to USD 3.2 billion by 2024, at a CAGR of 6.54%. Increasing investments in the electrical networks, increasing demand for reliable and secure power supply worldwide, and growing adoption of renewable energy sources across the globe are likely to drive the DC Circuit Breaker Market.  Aging Power Infrastructure, rising electrification projects and adoption of the HVDC technology, can lead to opportunities in the DC Circuit Breaker Market.

The medium voltage segment is expected to hold the largest share of the DC Circuit Breaker Market, by voltage, during the forecast period.

The medium segment led the DC Circuit Breaker Market in 2019 and is projected to have the largest market share during the forecast period. This growth can be attributed mainly to the growing demand to attain reliable and sustainable power supply mostly in rural areas of the Asia Pacific and the Middle East & Africa region. Increasing investments in aging electrical infrastructure in transmission and distribution networks and the rising need to protect electrical circuit equipment further drives the medium voltage DC Circuit Breaker Market.

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151 - Pages

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By insulation, the vacuum segment led the DC Circuit Breaker Market, during the forecast period.

The vacuum segment led the DC Circuit Breaker Market in 2019. High insulating strength, suitability for repeated operations, & low maintenance cost are expected to drive the vacuum DC Circuit Breaker Market.  Also, rising investments in electrification projects, in which vacuum technologies are highly deployed encourages players to invest in the DC circuit breaker. They are mainly used in medium voltage ranging from 11 kV to 33 kV. They have a long mechanical service life. They are fast in operation; hence are ideal for fault clearing. Further, they are also safe as they do not explode, have a noiseless operation, are eco-friendly, and have a very minimal maintenance cost. They mainly find application in switchgears, transformers, power conditioning systems, switching devices, and transformers.

Asia Pacific: The leading market for DC Circuit Breaker Market

In this report, the DC Circuit Breaker Market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific led the global DC Circuit Breaker Market in 2018. The high growth rate in the Asia Pacific region can be attributed to increased investments in the electric grid development and growing reliance on renewable sources of power generation. China and India are the largest markets for DC Circuit Breaker Market in the region. Increasing grid investments and plans for electrification in remote areas in countries such as Vietnam, Indonesia, and the Philippines is likely to drive the growth of the DC Circuit Breaker Market in the region during the forecast period. Rise in investments in smart grid technologies is another factor which is driving the DC Circuit Breaker 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 DC Circuit Breaker Market. The key players are ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Toshiba (Japan), Larsen & Toubro (India), Mitsubishi (Japan), Powell (US), Rockwell Automation (US), Fuji Electric (Japan), CG Power (India), ENTEC Electric & Electronic (South Korea), BRUSH Group (UK). Contracts & agreements was one of the key strategies adopted by the players to strengthen their global presence and offerings.

Arc Flash Protection Market: Increasing Investment in Electrical Networks is Expected to Boost the Market During 2017-2022

The arc flash protection market is expected to grow from an estimated USD 1.85 Billion in 2017 to USD 2.41 Billion by value by 2022, at a CAGR of 5.38%. Equipment with installed arc flash protection devices provides improved equipment reliability while ensuring safety of personnel working in the vicinity. The global market is set to witness growth, due to increasing investments in electrical networks and growth of the manufacturing sector in South-East Asia.

Utilities is the largest segment in the arc flash protection market

With regard to the end-user segment, the utilities segment in the arc flash protection market is expected to be the largest market in 2017. Growing demand for electricity has resulted in significant capital spending on electrical networks to boost power generation and improve transmission and distribution quality. Increase in expenditure on electrical networks from China, India, and countries in the Middle East would drive the utilities segment.

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North America: The leading market for arc flash protection

The market in North America is expected to dominate the global arc flash protection market, given the increasing awareness to reduce the electrical risk hazards at workplace in order to create a safer environment for personnel as well as the equipment. Growth in industries such as food & beverage, infrastructure and transportation, utility, and mining, is also expected to increase capital spending on safety equipment by major manufacturers. All these factors are expected to drive the North American arc flash protection market.

Some of the top players in the arc flash protection market includes ABB, Ltd. (Switzerland), Arcteq Relays, Ltd. (Finland), General Electric (U.S.), Schneider Electric (France), Eaton Corporation (Ireland), Siemens AG (Germany), Larsen & Toubro, Ltd. (India), Littelfuse, Inc. (U.S.), NR Electric Co., Ltd. (China), Oberon Company div Paramount Corporation (U.S.), Hazchem Safety (U.K.), DuPont (U.S.), Grainger, Inc. (U.S.), LSH Industrial Solutions Pte, Ltd. (Singapore), PowerPoint Engineering, Ltd. (Ireland), I-Guard Corporation (Canada), G&W Electric Company (U.S.), Mors Smitt (U.S.), Rittal GmbH & Co. KG (Germany), Salisbury (U.S.), AJ Charnaud & Co. (Pty) Ltd (South Africa), AGO Industries, Inc. (U.K.), Clydesdale, Ltd. (U.K.), Chicago Protective Apparel (U.S.), and Pentair (U.S.) among others. 

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Heat Pump Industry: Asia Pacific is Expected to Be the Fastest-Growing Market for Heat Pump During 2018– 2023

The heat pump industry is expected to grow from an estimated USD 54.34 billion in 2018 to USD 94.42 billion by 2023, at a CAGR of 11.68%, during the forecast period. The market is set to witness growth because of increased investments in the residential and commercial sectors, infrastructure developments, and ability to reduce carbon emissions.

The residential end-user segment is expected to generate significant demand for heat pumps during the forecast period.

The increase in urbanization has led to the demand for smart buildings. These buildings require efficient heat pumps, leading to the growth of the heat pump market. Smart buildings are not only green/sustainable but are also intelligent; these buildings are equipped with advanced technologies, which include heat pumps. Heat pumps provide a comfortable and standard living environment. Governments are relying on smart buildings, which ensure a lower carbon footprint, 40% reduction in the usage of water, and less electricity consumption. Thus, developers and owners of buildings are trying to meet energy-efficiency guidelines using equipment such as heat pumps.

Asia Pacific: The Key market for heat pumps during the forecast period.

In this report, the heat pump market has been analyzed concerning 4 regions, namely, Asia Pacific, Europe, North America, and Rest of the World (RoW). The governments in these countries are drawing up policies to ensure that energy-efficient equipment such as heat pumps are being installed in new buildings, which is expected to drive the market for heat pumps. The demand from China would lead the market in Asia Pacific. Growing investments in the residential and commercial sectors of the Chinese market is creating a huge demand for the heat pump market. Rising government regulations and policies for increasing energy efficiency and favorable incentives, a significant contribution of heat pumping technology in the reduction of CO2 emissions, implementation of large industrial and commercial projects, and refurbishment of the aging infrastructure in Asia Pacific & Europe would continue to create demand for the heat pump market.

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Some of the top players in the heat pump market such as Daikin (Japan), United Technologies (US), Midea (China), NIBE (Sweden), Ingersoll Rand (Ireland), Glen Dimplex (Ireland), Stiebel Eltron (Germany), Viessmann (Germany), Panasonic (Japan), Mitsubishi (Japan), Vaillant (Germany), and Danfoss (Denmark).

Pipeline Integrity Market: Increasing Demand for Oil & Gas and Rising Environmental Concerns Related to Its Transportation is Expected to Boost the Market

According to the new market research report "Pipeline Integrity Market by Service (Testing, Inspection [Ultrasonic, Magnetic Flux, Caliper], Monitoring, Software), Application (Onshore, Offshore), Product (Oil, Gas, Refined Product), and Region: Global Forecast to 2024", published by MarketsandMarkets™, the global Pipeline Integrity Market is projected to reach USD 2.1 billion by 2024 from an estimated USD 1.7 billion in 2019, at a CAGR of 4.33% during the forecast period. This growth can be attributed to huge investment pool in the pipeline business, increased government mandate and regulations for pipeline assessment, concern over environment impact, the safety of pipelines and energy infrastructure, and increased focus on the remote management of oil & gas pipeline for process optimization & automation.

The inspection segment is expected to hold the largest share of the Pipeline Integrity Market, by service, during the forecast period.

The inspection segment is estimated to dominate the Pipeline Integrity Market in 2019 and is projected to be the largest market during the forecast period. Rising government regulations and mandates associated with the inspection of pipelines are expected to drive the market during the forecast period. Inspection services are carried out using technologies such as magnetic flux, ultrasonic, and caliper. Magnetic flux is the most widely adopted technology in inspection services. It is a nondestructive testing method, which is used to detect corrosion, surface pitting, cracks, and weld defects. It is used to provide information on the condition of the pipe wall. It scans the circumference and length of the pipeline helping determine the remaining wall thickness, depth, and location of metal, which is lost due to deterioration mechanisms.

Browse and in-depth TOC on “Pipeline Integrity Market”

68 - Tables

27 - Figures

128 - Pages

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The refined product segment is expected to be the fastest growing segment of the Pipeline Integrity Market, by product, during the forecast period.

The refined product segment accounted for the highest CAGR during the forecast period. Carbon dioxide (CO2), multiphase (oil and gas mixed), Mono-Ethelyne Glycol (MEG), refined petroleum products, and methanol have been considered under the refined product segment. Approximately only 1,000 km of less than 24” pipeline network is expected to be completed from 2019 to 2024. The Asia Pacific region, followed by Africa and the Middle East are expected to be the most attractive regions in this segment because of the commissioning of planned projects during the forecast period.

The Americas: The largest Pipeline Integrity Market.

In this report, the Pipeline Integrity Market has been analyzed with respect to 4 regions, namely, the Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is estimated to dominate the global Pipeline Integrity Market in 2019. The growth of the Pipeline Integrity Market in the Americas is driven by the rising shale gas & oil production and favorable regulations related to the licensing of Exploration & Production (E&P) activities. The US has a high integrated network of pipelines for transferring natural gas throughout the continent. Moreover, the country has a network of approximately 3 million miles of mainline and other pipelines that link natural gas production areas and storage facilities with consumers. Furthermore, in 2018, the country planned to expand the offshore drilling to more than 90% of waters in the Atlantic, the Pacific, the Gulf of Mexico, and the Arctic.

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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 Pipeline Integrity Market. Some of the key players are Rosen (Switzerland), Baker Hughes, a GE Company (US), NDT Global (Germany), T.D. Williamson (US), SGS (Switzerland), Schneider Electric (France), Emerson (US), Applus (Spain), Altus Intervention (Malaysia), Enermech (UK), Intertek (UK), IKM Gruppen (Norway), and Lin Scan (UAE). The leading players are adopting various strategies to increase their share in the Pipeline Integrity Market.

Heat Recovery Steam Generator Market: Asia-Pacific is Expected to Grow at the Highest Growth Rate During the Forecast Period

The heat recovery steam generator market is expected to grow from an estimated USD 740.7 Million in 2015 to USD 888.2 Million by 2020, at a CAGR of 3.7% from 2015 to 2020. Factors such as increasing efforts to reduce global greenhouse gas emissions, growing adoption of CCPP & CHP, increasing global electricity demand & subsequent investments in power plants, and economic benefits of implementing heat recovery steam generators are driving the market worldwide.

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Increasing preference for >30 MW heat recovery steam generators

The report also segments the heat recovery steam generator market on the basis of its rated power, which includes up to 30 MW and >30 MW. The >30 MW power rated heat recovery steam generators have been widely accepted in the past few years, and finds application mainly in CCPP. The market for > 30 MW power rated heat recovery steam generators will be driven by the many combined cycle power plants that are planned to come up in Asia-Pacific and North America. Replacement of old coal-fired power generation capacity in the U.S. with new large capacity gas-fired power plants would give a major boost to the market. The up to 30 MW power rated heat recovery steam generator market is expected to grow at the highest CAGR during the forecast period.

Combined Heat and Power (CHP) plants to be the dominant application segment in the global heat recovery steam generator market

Heat recovery steam generators find application mainly in CHP and CCPP. The CHP market accounted for more than 50% of the total market share in 2014. Cogeneration or CHP is highly efficient and can achieve primary energy savings by nearly 40%. Moreover, they are installed close to the end-user, which helps in reducing T&D losses. The typical recoverable temperature ranges from 90oC to 400oC, which are used for district heating or cooling and other factory processes.

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Asia-Pacific is expected to grow at the fastest pace during the forecast period
Asia-Pacific is the fastest growing market for heat recovery steam generators. In countries such as China and India, factors such as strong growth in demand for electricity fuelled 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 heat recovery steam generators.

Some of the leading players in the heat recovery steam generator market including General Electric Company (U.S.), Siemens AG (Germany), Amec Foster Wheeler plc. (U.K.), Babcock & Wilcox Company (U.S.), and Doosan Engineering & Construction Co., Ltd. (South Korea), among others. 

Protective Relay Market Major End-User Applications into Industries, Utilities, Renewables, and Marine.

The protective relay market is projected to reach USD 4.54 billion by 2021, growing at a CAGR of 6.5% during the forecast period. The increasing investments in transmission & distribution infrastructure—including substations—and transmission & distribution lines, coupled with the increasing urbanization in developing nations, have propelled the growth of the protective relay market. Substations in developed nations are being modernized to ensure uninterrupted power supply with minimum loss. This is achieved by replacing the traditional electromagnetic and static relays with advanced numeric and digital relays. These relays also retain the data, which allows utilities or other users to track power outages caused by faults. Furthermore, investments in smart grid technologies are increasing, especially in developed countries. Protective relays are an integral part of the power system and are therefore being continuously improved to increase protection levels.

Protective relays play a crucial role in several segments, including power generation, transmission & distribution, and equipment protection. Relays are installed in the circuit to minimize electrical failures caused by the transients and fault currents that flow through the circuit, and to mitigate their effects. These high-intensity fault currents can damage equipment or devices in the circuit. The protective relay market is segmented on the basis of voltage, protection mechanism, end-user, and region.

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Feeder Protection Relays To Lead the Market during the Forecast Period

Feeder protection relays occupied the largest share of the protective relay market in 2015. Feeders are the current loading points of the transmission of distribution lines. They are present in the transmission network, distribution network, switchyards, and substations. The protection of feeders is essential to ensure uninterrupted power supply and to protect the lines along with the feeders.

Asia-Pacific: The Fastest-Growing Market for Protective Relays

Asia-Pacific is estimated to hold the largest market share, followed by North America and Europe. In terms of individual countries, the market is dominated by China. This can be attributed to the extensive electrical infrastructure upgradation and new transmission & distribution lines being installed in the country. China held the largest share of the global protective relay market in 2015. Rapid economic growth in BRICS nations are expected to drive the protective relay market in these nations. Protective relays will likely be used extensively in the new electrical transmission & distribution networks of BRICS countries.

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Leading players in the protective relay market include Eaton Corporation (Ireland), General Electric (U.S.), ABB Ltd. (Switzerland), Schneider Electric (France), and SEL Inc. (U.S.). Some of the other companies operating in the market are Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), Fanox Electronics (Spain), and Basler Electric (Illinois).