Power Distribution Unit Market: Rising power distribution unit installations for reducing energy losses

 According to the new market research report "Power Distribution Unit Market by Type (Basic, Metered, Switched, Monitored, ATS, Hot Swap, Dual Circuit), Phase (Single & Three), Power Rating (Up to 120 V, 120–240 V, 240–400 V, above 400 V), End User and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Power Distribution Unit Market size is estimated to be USD 3.9 billion by 2022 and is projected to reach USD 5.7 billion by 2027, at a CAGR of 7.9%. This is designed to provide standard electrical outlets for use within a variety of settings that dont require monitoring or remote access capabilities. Power distribution units can either be basic or intelligent, depending on the features they have. These products can monitor, track, and manage every aspect of data center activity and provide efficient solutions for critical power devices, along with data center security and server management.

Single phase PDUs is expected to result in the segment occupying majority of the Power Distribution Unit Market share

 

The single-phase power distribution units are different from the three-phase power distribution units. Single-phase wires are usually grounded at the switchboard. These systems are mostly used in residential settings that have small workloads. They are rarely used in data centers today, as most cabinets are too dense and require more electricity than single-phase systems can provide. The demand from residential sectors and small end users drives the market for single-phase power distribution units. For instance, in February 2021, Eaton acquired Tripp Lite for USD 1.6 billion, which added the new single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures to Eaton’s existing data center portfolio.

 

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Telecom & IT end user is estimated to be the largest and fastest growing market

 

Based on the end user segment of power distribution unit systems, the telecom & IT sector is estimated to be the fastest and largest growing market from 2020 to 2027. The telecom & IT sector is a major consumer of PDU across all regions, which has contributed significantly to the growth of the market. It is also an industry continually redefining its parameters, providing communications service providers (CSPs) with tremendous opportunities for growth. Subsequently, CSPs are working toward expanding their partner ecosystem to deliver innovative new services and implement new business models. According to the GSM Association, a trade body that represents the interests of mobile network operators worldwide, by 2025, 71% of the world’s population will be connected to smartphone networks and will be enjoying internet services.

 

North America likely to emerge as the largest Power Distribution Unit Market

 

North America accounted for a 42.3% share of the Power Distribution Unit Market in 2022. North America is experiencing evident growth for colocation data centers and is providing opportunities for the players operating in the Power Distribution Unit Market. For instance, In March 2022, nVent officially announced the opening of its first North American power distribution unit (PDU) manufacturing facility in Tucson, Ariz. The new facility will be the third to manufacture intelligent PDUs for nVent’s CIS business. The growing demand for PDUs for data centers, along with rising investments in the telecom & IT and healthcare sectors are expected to drive the demand for the Power Distribution Unit Market in North America.

 

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Legrand (France), Schneider Electric (France), Cisco System (US), ABB (Switzerland), and Eaton (Ireland), are the key players in the global Power Distribution Unit Market.

Growing Power and Oil & Gas Industries Propelling Pressure Vessel Market Growth

 According to the new market research report "Pressure Vessel Market by Type (Boiler, Reactor, Separator), Material, Heat Source (Fired Pressure Vessel and Unfired Pressure Vessel), Application (Storage Vessels and Processing Vessels), End-User and Region - Global Forecast to 2027", published by MarketsandMarkets™, The global pressure vessel market is expected to grow from USD 47.1 Billion in 2022 to USD 59.5 Billion by 2027, at a CAGR of 4.8% during the forecast period. The increase in the requirement for the industrial equipment to hold their gases, liquids, and vapors at high pressures for industries such as power, oil & gas, chemicals & petrochemicals, food & beverages, pharmaceuticals is driving the Pressure Vessel Market.

Boilers have the largest market share in pressure vessels which are majorly driven by thermal power plants in the power sector. Apart from the thermal plants, there are also other industries that are in need of pressure vessels such as the chemical sector. Advancements in technologies such as supercritical and ultra-critical technologies for thermal power generation is also building up demand for pressure vessels. These new technologies are replacing the aged thermal power plants making them eco-friendly, and energy-efficient. In the APAC region, China is contributing to the high market share. The abundance of thermal power plants in China is contributing to the growth of this market. Two units of ultra-supercritical coal-fired power plants have been approved to balance the energy supply and demand. Thus, these developments in this region are increasing the demand for pressure vessels. The upcoming projects in developing economies such as the Asia Pacific are providing opportunities for the growth of the Pressure Vessel Market.

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The steel alloy is expected to be the most significant segment of the pressure vessel market

The steel alloy material segment has the largest share of the global Pressure Vessel Market. It is the most common material used in manufacturing pressure vessels when compared to composites and other alloys. The advancements in the steel alloy have improved its properties such as strength, and corrosive resistance nature. APAC region is contributing to the highest market share of pressure vessels during the forecast period. Thus, increasing the demand for steel alloys in this region.

Asia-Pacific is expected to remain as the largest pressure vessel market

The Asia-Pacifics expected to dominate the Pressure Vessel Market during the forecast period due to an increase in the requirement of various end-user industries such as the chemical, and power sectors in the Asia Pacific region. Advancements in the technologies in the pressure vessels are creating opportunities for pressure vessel growth in the Asia Pacific region. To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Pressure Vessel Market.

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The leading players in the Pressure Vessel Market are Babcock & Wilcox Enterprises (US), General Electric (US), Larsen & Toubro (India), Mitsubishi Hitachi Power Systems (Japan), Hitachi Zosen (Japan), IHI Corporation (Japan), Bharat Heavy Electricals Limited (India). The major strategies adopted by these players include new product launches, sales contracts, agreements, expansions, partnerships, and collaborations.

Smart Meters Market Opportunities and Future Trends

 The global smart meters market is projected to reach USD 30.2 billion by 2026 from USD 19.6 billion in 2021, at a CAGR of 9.0% during the forecast period. Smart Meters is increasingly being installed and is showing robust growth.

Governments worldwide are undertaking several initiatives to meet the future electricity demands and are focusing on reducing carbon footprint by promoting the use of renewable energy sources to produce energy. Smart meters will play a crucial role in achieving these initiatives. The increase in the adoption of electric vehicles, development of microgrids, distributed energy storage, and the need for net-metering are a few of the major drivers for the smart meter market growth. With advancements in smart meters and sensors, utility systems and their dynamic prices can be monitored in real-time. The real-time data generated by smart meters help energy network operators understand patterns in demand and integrate renewable energy by applying analytics on the demand data produced by smart meters.

The reduction in the price of ultrasonic sensors used in smart water and gas meters has opened new opportunities for the market. Smart meter sensors and communication systems can effectively and quickly monitor and resolve blackout/leakage issues and are also used for mapping outage events to help prevent future outages. In addition, data from smart meter communication systems can help utilities visualize, analyze, and efficiently manage repairs, reducing outage times and costs.

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The smart electric meter is expected to be the largest segment of the smart meters market

The smart electric segment accounted for the largest market share of 73.8% of smart meters market, by type in 2020, driven by the growing emphasis on dynamic pricing of utilities and the Increased need to monitor energy consumption to achieve carbon neutrality. The future growth of the segment can be attributed to increasing demand for the need to monitor utility systems in real-time for consumers across end-users such as residential, commercial, and industrial sectors.

The smart water meters segment is expected to be the fastest growing during the forecast period. The growth can be attributed to the reduction in the price of smart ultrasonic meters, making them cost-competitive along with advantages of ultrasonic meters such as long life, higher accuracy, and low maintenance.

Asia Pacific is expected to remain as the largest smart meters market

In this report, the smart meters market has been analyzed for five regions, namely, North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific region is expected to dominate the global smart meters market between 2021–2026. Asia Pacific region is expected to dominate the global smart meters market between 2021–2026. Asia Pacific region is the fastest growing smart meters market in the world, predominantly due to China, and the trend is expected to be the same during the forecast period. The market in the region is driven by the growing emphasis on efficient management of power distribution, power outages, and demand response (DR), and reduced operation cost

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The major players in the global Smart Meters Market are Schneider Electric (France), Landis+Gyr (Switzerland), Itron (US), Siemens (Germany), Wasion Group (China), Badger Meter (US), and Sensus (Xylem) (US).

Floating LNG Power Vessel Market to Witness Revolutionary Growth by 2023

 The global floating LNG power vessel market is expected to grow from an estimated $860.1 million in 2018 to $931.6 million by 2023. In 2018, the Asia Pacific market is estimated to be the largest, followed by the Middle East & Africa. Factors such as growing population, industrialization and increasing urban business activities, and an increase in the demand for power generation are expected to drive the floating LNG power vessel market.

Power Ship segment is the fastest-growing segment of the floating LNG power vessel market

A power ship is a special type of ship that has been modified for power generation. It is generally used in the energy leasing market for short- and mid-term contracts because of its self-propelling property. Karadeniz Holding (Turkey) dominates the supply of power ships in the market. Most of the projects use power between 100 MW and 150 MW and run on liquid fuel or natural gas, which are expected to witness high growth in the market.

 

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The power generation segment is expected to lead the floating LNG power vessel market

The floating LNG power vessel is segmented into the power generation system and power distribution system. The power generation system segment is expected to dominate the floating LNG power vessel market by 2023. The power generation system segment is further classified into gas turbine & IC engine and steam turbine & generator. Gas turbine & IC engines are the two key components in the floating power generation system market.

 

The arrival of gas turbines and the increasing availability of natural gas, coupled with widespread R&D investments and evolution of the combined cycle technology, have led to an increase in the application of gas turbines in the power generation system. The gas engine technologies can be connected to the existing gas pipeline system to avoid diesel fuel supply issues that occur during natural calamities, whereas IC engines are used in floating LNG power applications with a power output between 5.0 MW and 20.0 MW.

 

Asia Pacific is expected to be the largest floating LNG power vessel market

The Asia Pacific led the global floating LNG power vessel market in 2017. It is one of the most populated regions in the world and continually witnesses an increasing demand for electricity. Moreover, due to the limited land availability for power plant construction, the Southeast Asian island countries are expected to generate high demand for floating LNG power vessels.

 

The governments of several Southeast Asian island countries plan to increase investments to meet the increased demand for power. For instance, Myanmar Electric Power Generation Enterprise awarded a contract to Karpowership to provide an FPP in Rangoon, Myanmar. Such factors are expected to drive the growth of the floating LNG power vessel market in the Asia Pacific region.

 

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The leading players in the Floating LNG Power Vessel Market include Siemens AG (Germany), MAN Diesel & Turbo SE (Germany), Wärtsilä Corporation (Finland), General Electric Company (US), and Caterpillar Inc. (US).

Battery Monitoring System Market to exceed $5.47 Billion by 2022

 The global battery monitoring system market is projected to grow at a CAGR of 18.23%, to reach a market size of USD 5.47 Billion by 2022, from an estimated USD 2.37 Billion in 2017. North America is estimated to be the largest market for battery monitoring systems, followed by Asia Pacific and Europe. The growth of the battery monitoring system market is mainly driven by a booming demand for global connectivity, accompanied by an increasing demand for data centers, increasing investments in renewable energy, energy storage, and the infrastructure industry to accommodate the rising demand for power globally. The increased operational efficiency of batteries and rising demand for electric vehicles are expected to boost the demand for battery monitoring systems.

The battery monitoring system has been segmented based on battery type into lithium-ion based, lead-acid, and others. The others includes nickel-based and flow batteries. The lithium-ion based segment accounts for the largest share of the battery monitoring system market. The key applications of lithium-ion battery monitoring systems are electric and hybrid electric vehicles, power tools, and power supply backup. The increasing deployment of lithium-ion batteries in these applications has resulted in the largest share of the lithium-ion batteries segment compared to other battery types.

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The North America region is expected to be the Largest Market for Battery Monitoring System

The battery monitoring system market in North America is expected to lead the global market by 2022 and is projected to grow at the second-highest CAGR from 2017 to 2022. Market growth in this region can be attributed to increasing investments in data centers and growing renewable power generation capacities. Countries such as the US and Canada are the key markets for battery monitoring systems in North America.

Asia Pacific: the fastest growing market for battery monitoring systems

The battery monitoring system market in Asia Pacific is expected to grow at the fastest rate due to increasing investments in the data centers sector and growing renewable power generation in the region. The Chinese market is expected to dominate the battery monitoring system market in Asia Pacific. The battery monitoring system market is expected to grow at a high rate in countries such as China, South Korea and those in South-East Asia. An all-round effort by the governments of various countries in the region to reduce greenhouse gases and an emphasis on obtaining power from renewable sources is also likely to drive the battery monitoring system market in the region.

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The Battery Monitoring System Market is dominated by both global and regional players. The key players operating in the market include NDSL (UK), Texas Instruments (US), PowerShield (New Zealand), BatteryDAQ (US), Canara (US), and Eagle Eye (US). The other players in this market include HBL (India), Schneider Electric (France), Curtis (US), Socomec (France), BTECH (US), ABB (Switzerland), and SBS (US).

District Cooling Market to Observe Huge Growth by 2026

 According to the new market research report "District Cooling Market by Production Technique (Free Cooling, Absorption Cooling, Electric chillers), Application (Commercial, Residential, and Industrial) and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2026", published by MarketsandMarkets™, The global district cooling market is projected to reach USD 1,177 million by 2026 from an estimated market size of USD 931 million in 2021, at a CAGR of 3.4% during the forecast period.

Rapid urbanization will put tremendous pressure on urban infrastructure. With increasing number of people moving to cities, the demand for residential and commercial spaces is also expected to increase in the coming years. To accommodate this massive influx of people, the demand for taller buildings is also likely to increase. According to the International Energy Agency (IEA), air conditioner ownership is increasing in such regions. Middle Eastern countries are one of the most advanced markets for district cooling. The Middle East has been witnessing an increase in temperature in summer, exceeding 50-degree Celsius. Cooling is one of the biggest issues faced by the countries in this region. District cooling offers numerous advantages compared with conventional cooling technologies. It is environment-friendly and relatively more cost and energy-efficient. District cooling could be one of the best solutions for meeting the cooling demand of the rapidly growing Middle Eastern countries. For instance, Dubai has the world’s largest district cooling network that has enabled it to meet the country’s cooling demand and reduce its electricity demand. Moreover, there has been an increase in the demand for innovative and sustainable cooling technology because of rapid economic development in the Middle East. The upcoming construction projects due to increasing GDP will eventually lead to an increase in energy consumption, and subsequently, carbon dioxide emissions. This would increase the demand for energy-efficient cooling technology. The upcoming infrastructure projects in developing economies such as the Middle East and Asia Pacific are providing opportunities for growth of the district cooling market.

 

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The electric chillers is expected to be the largest segment of the district cooling market

The electric chillers segment accounted for the largest share of the district cooling market, by application, in 2021. The demand for electric chillers from the production technique sector is driven by the relatively higher coefficient of performance (COP) in comparison with that of residential and commercial air conditioning units. Even Linking electric chillers with cold storage on a network helps reduce peak electricity demand for cooling in a city by shifting production to other periods of the day.

 

Middle East and Africa is expected to remain as the largest district cooling market

The Middle East and Africa are expected to dominate the district cooling market during the forecast period due to shift in the electricity demand and supply balance in the Middle East & Africa and Asia Pacific regions have resulted in the wider use of district cooling, which has enabled utilities and developers to balance power supply and effectively manage its usage. District cooling is being promoted as a way of addressing energy shortages, energy demand, and global warming in the Middle East & Africa, and Asia PacificTo enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the district cooling market.

 

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The leading players in the District Cooling Market are Emirates Central Cooling System Corporation (UAE), National Central Cooling Company PJSC (UAE), Emirates District Cooling LLC (UAE), Shinryo Corporation (Japan), ADC Energy Systems LLC (UAE), Keppel DCHS PTE LTD (Singapore), LOGSTOTR A/S (Denmark), Ramboll Group A/S (Denmark), SIEMENS AG (Germany), Stellar Energy (USA), and District Cooling Company LLC (UAE) and others. The major strategies adopted by these players include new product launches, sales contracts, agreements, expansions, partnerships, and collaborations.

Power Management System Market to exceed $5.26 Billion by 2022

 The global power management system market is estimated to reach USD 3.77 Billion in 2017 and is projected to reach USD 5.26 Billion by 2022, growing at a CAGR of 6.88%, during the forecast period. The market is set to grow due to the increasing demand for energy efficiency in the manufacturing sector, rising installation of renewables in the industry, and rising adoption of IoT and cloud-based platforms.

 

The power monitoring and control module helps in measuring and controlling vital parameters such as frequency, voltage, energy demand, current and voltage control, and data analysis for overall power quality control. The segment is expected to be driven by the increasing demand for energy efficiency in the manufacturing sector in the Asia Pacific region. Emerging economies such as China and India are witnessing substantial growth in the manufacturing sector with favorable government policies supporting investments in the sector. The shale oil & gas boom in North America is expected to another key driver for the growth in the power monitoring and control segment during the forecast period.

 

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The power management system market has been segmented, by end-user, into oil & gas, marine, chemicals and pharmaceuticals, paper and pulp, metals and mining, utilities, data centers, and others. The others segment includes food & beverage, infrastructure, heavy engineering and automotive, and railway. The marine segment comprises marine vessels such as offshore support vessels, cargo vessels, LNG tankers, cruise ships, and defense vessels. Marine vessels consume substantial amounts of diesel or natural gas to power the vessels. Power management systems in marine vessels ensure optimized load distribution in marine vessels, generator start and stop, automatic load shedding, switching operations, and fuel optimization. The growth in the global shipbuilding industry, particularly in the Asia Pacific region and Europe is expected to drive the marine segment in the power management system market.

 

Asia Pacific expected to be the largest power management systems market

The power management system market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The market in Asia Pacific is expected to lead the power management system market, by region. The increase in the manufacturing sector along with other industries such as metals and mining and data centers is the key factor driving the power management system market in Asia Pacific. The growth in shipbuilding particularly for offshore support vessels and commercial vessels is another key driver for the growth in the market.

 

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Some of the major players in the Power Management System Market are ABB (Switzerland), Eaton (Ireland), Siemens (Germany), GE (US), ETAP (US), Wartsila (Finland), Mitsubishi (Japan), and among others.

Bioliquid Heat and Power Generation Market to exceed $2.29 Billion by 2022 - Emerging Trends and Opportunities

 The global bioliquid heat and power generation market is expected to grow from an estimated value of $1.67 billion in 2017 to $2.29 billion by 2022, at a CAGR of 6.54%. The bioliquid heat and generation market is driven by factors such as the easy availability of feedstock and reduction in carbon emissions.

The availability of technology to convert feedstock to liquid biofuels is expected to boost the demand for bioliquid heat and power generation. The emerging markets in Asia Pacific present a great opportunity for the bioliquid heat and power generation market due to significant government initiatives to promote renewable energy generation through biofuels.

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Asia Pacific is expected to be the fastest-growing bioliquid heat and power generation market

In Asia Pacific, governments are focusing on increasing the contribution of renewable energy sources to meet domestic electricity demand. The market in Europe is expected to dominate the global bioliquid heat and power generation market due to increasing investments in the renewable energy sector and stringent regulatory frameworks related to the implementation of bioliquids in the region. The Chinese market is expected to dominate the market in Asia Pacific. The bioliquid heat and power generation market is expected to grow at a significant rate in countries such as India, Japan, and South-East Asian countries.

Europe is expected to be the largest bioliquid heat and power generation market

The market in Europe is expected to lead the global bioliquid heat and power generation market by 2022. The market size in this region can be attributed to the increasing focus on the renewable energy sector, of which bioliquid is a part. Countries such as Germany, the UK, and France are the key markets for bioliquid heat and power generation in Europe. The stringent regulatory framework regarding bioliquids in the region is expected to drive the market in Europe.

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The key players in the Bioliquid Heat and Power Generation Market include REG (US), Neste (Finland), Kraton (US), BTG (Netherlands), and Olleco (UK).

Offshore ROV Market: Rise in Demand for Oil & Gas to Boost the Market

The global 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 a rise in demand for oil & gas.

The Observation class segment is expected to hold the largest share of the Offshore ROV market

The offshore ROV market has been segmented, by type, into Observation class, Work Class, and Intervention Class. The observation class segment is expected to be the largest market because it can be used in all kinds of offshore applications for observing the process during drilling and completion work.

The Drilling and Well Completion Support is expected to dominate the offshore ROV market

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

The Middle East & Africa is expected to dominate the offshore ROV market during the forecast period. The rise in offshore deep and ultradeep 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.

Some of the leading players in the offshore ROV market are 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).

Laminated Busbar Market to See Booming Growth

The global laminated busbar market is projected to grow at a CAGR of 6.6% from 2020 to 2025, to reach a market size of USD 1,183 million by 2025 from USD 861 million in 2020. Cost-efficiency and operational benefits of laminated busbars, demand for safe and secure electrical distribution systems, and focus on renewable energy are expected to drive the laminated busbar market during the forecast period.

Utilities is expected to be the largest segment in the Laminated Busbar Market

The utilities segment dominated the Laminated Busbar Market during the forecast period. A laminated busbar is a vital component in power generation plants and transmission & distribution substations, where it finds applications in distribution boards, switchgears, motor controls, and transformers. Utilities are investing in upgrading transmission & distribution networks to meet new-age demands and improve the efficiency of grid networks, thereby helping the Laminated Busbar Market to grow during the forecast period.

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Europe: Expected to be the leading market for laminated busbars

Europe is expected to dominate the global Laminated Busbar Market from 2020 to 2025. Rising power demand, increasing investments in the energy sector, and growing construction activities in the region are likely to drive the demand for laminated busbars in Europe.

The major players in the Laminated Busbar Market include Rogers (US), Amphenol (US), Mersen (France), Methode (US), and Sun.King Power Electronics (China).