Ongoing grid retrofitting and refurbishment activities to foster the global substation market outlook by 2026

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The global substation market is anticipated to witness a lucrative growth rate in the forthcoming years, propelled by the vast number of projects undertaken for grid refurbishments. Rapid development of the current grid network together with continuing modernization of the grid is also positively impacting the demand for substation market.Furthermore, substantial investments from state-owned utilities for the development of prevailing infrastructure might further drive the industry growth. Various schemes and incentives by government organizations regarding the establishment of an efficient distribution and transmission network would boost the product penetration.

With ongoing industrialization focusing on fostering overall economic growth in a positive manner with help from foreign direct investments to support commercial and industrial establishments would also boost the demand for primary as well as secondary electric distribution infrastructure.

Additionally, rapid digitalization throughout industrial establishments has substantially integrated a competitive industry scenario, primarily due to the growing energy demand from data centers and communication base stations. The rising adoption of reliable, advanced, fire-resistant, energy efficient and reliable electric equipment has established a positive business scenario.

As per a research report by Global Market Insights, Inc., global substation market is estimated to surpass an annual installation of 24,500 units by 2025.

Utility aided by electrical infrastructure has been positively influenced by government and regulatory directives subject to the deployment of the grid. Regulatory schemes relating to the rural electrification along with the inclusion of decentralized micro-grid infrastructure throughout standalone regions have augmented the product penetration.

Furthermore, establishment of energy networks that are sustainable and are supported by investments from regulatory authorities and local institutions like the IFC, World Bank and other similar organizations throughout developing nations may positively influence the industry dynamics.

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With respect to voltage level, low & medium voltage substations that are up to 145 kV have achieved a substantial thrust owing to rapid commercial expansion and large-scale residential applications throughout developing nations in recent years.

Moreover, the suburban migration has also led to the development of residential complexes as well as multi-story apartments, thereby accelerating the industry growth. Furthermore, encouraging consumer as well as regulatory inclination for incorporating sustainable electricity networks would further encourage industry growth.

On the geographical front, the United States substation market is set to foresee a 5% growth by 2026. Growing demand for effective transmission & distribution infrastructure coupled with an increase in commercial and industrial investment would stimulate the business growth.

Moreover, government initiatives to promote technologies of substation automation & monitoring control systems backed by strict regulatory norms might further influence the industry share. The U.S. utilities, which includes cooperatives, public power providers and utilities that are investor owned, invested around $4.8 billion back in 2016 in smart grid control systems and technologies.

Additionally, ongoing industrial development and large-scale suburbanization throughout APAC and MEA have led to significant increase in demand for substation systems.

Overall, the above-mentioned factors are likely to offer a wide array of growth opportunities for substation market.

The competitive spectrum of global substation market includes companies like Siemens, Emerson Electric, ABB and Eaton among others. These prominent players are also employing strategic alliances with technology providers to execute effective monitoring & control.

Author Name : Nandita Bhardwaj

Industrial air compressor market to record substantial gains from oil-filled compressor segment over 2019-2026

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Ever-increasing manufacturing activities commenced across developing nations have accelerated the demand for industrial air compressor in recent years. Industrial air compressors are widely used across manufacturing sectors like heavy engineering products, steel fabrication, automotive production, energy & mining, pharma, food & beverage, and others. With profound application across such several end-use sectors, the industrial air compressor market is anticipated to accrue prominent growth over the forecast period.

Technological advancements in pneumatic equipment like actuators, robotic arms, and assembly lines would generate lucrative growth opportunities for the industrial air compressor market. Global Market Insights, Inc., meanwhile predicts that the industrial air compressor market may surpass USD 24 billion by 2026.

 

Industrial Air Compressor Market

Based on lubrication, the oil-filled air compressor segment has registered immense application in the manufacturing sector owing to its minimum cost and robust application advantages over oil-free alternatives. These compressors are used across nuclear, hydroelectric and thermal power plants. The oil-filled industrial air compressors are regularly employed in drilling, mining, and quarrying activities to power pneumatic drilling equipment. With growing applications in numerous industries, studies suggest that the oil-filled industrial air compressor industry may surpass over USD 10 billion by the year 2026.

As per technology, the market is classified into reciprocating, rotary, and centrifugal air compressors. Out of these segments, rotary air compressors are slated to be good energy conservers and can generate less heat compared to other air compressors. They are also renowned for consuming less oil. In 2018, rotary air compressors market was accounted for over 55% of the market share. Moreover, with growing prominence, it is estimated to witness significant traction over the forecast period.

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On a regional front, APAC is expected to generate lucrative growth opportunities for the industrial air compressor market. The region has witnessed rapid industrialization over the past few years. In 2018 alone, the regional market accounted for approx. 40% of the global output.

Activities like construction, manufacturing, and mining in the region are shaping the growth trajectory of the market. All these factors are slated to significantly drive APAC industrial air compressors industry expansion in the forthcoming years. However, stringent emission norms could restrain the size of industrial air compressor market in APAC.

Reportedly, the industrial air compressor market is fragmented with the presence of prominent manufacturers like Doosan Portable Power, Mat Holdings, Quincy Compressor, Hitachi, Rolair Systems, Sullivan-Palatek, Gardner Denver, Elgi Compressors, Atlas Copco, Ingersoll-Rand, Kaeser Kompressoren, Bauer Compressors, Sullair, Ciasons Industrial, Aerzener, and Heyner.

Frontrunners like Gardner Denver, Atlas Copco, and Ingersoll Rand have a strong presence in the global market. Strategies such as subsidiaries and joint ventures have mainly led these firms to attain lucrative growth opportunities.

Author Name : Abhijeet Kakade

Robust demand for Knuckle boom crane slated to spur offshore crane market dynamics

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Sustained demand for maintenance & repair of oil & gas extraction systems is poised to fuel offshore crane market size. A notable uptick is being witnessed in subsea construction projects followed by infusion of investments, thereby signifying the relevance of maximum safety and high lifting capacity. Prominently, offshore cranes are highly sought-after in pipe maintenance & repair operations.

Stakeholders anticipate demand for knuckle boom cranes to proliferate against the backdrop of low maintenance and maximum efficiency requirements. These robust cranes find increased application in loading and unloading operations. With knuckle boom cranes providing improved strength and flexibility, they have become popular in marine and oil & gas industries. Meanwhile, lattice boom crane and telescopic boom crane will also provide impetus to the offshore crane market size. Dramatic rise in the construction of new ports & harbors will further boost offshore crane market share during the forecast period 2019-2026.

Offshore crane market size is expected to surpass US$ 5 billion by 2026, according to the latest research report by Global Market Insights, Inc.

With lifting capacity of over 5,000 mt, popularity of heavy-duty offshore cranes is set to spur the demand for the cranes as they apparently perform efficiently in hostile condition. It is prudent to mention that these dynamic cranes are increasingly used in the construction of large oil & gas and windfarm projects in offshore ambience.

North America offshore crane market share is expected to expand robustly in the wake of an upsurge in demand for electricity witnessed in the U.S. Reportedly, the U.S. government is vying to produce maximum electricity stemming from renewable energy sources such as offshore wind. Of late, demand for renewable energy has surged in the backdrop of burgeoning urbanization and rampant population. For instance, in 2019, Vineyard offered an 800 MW wind farm project in Massachusetts to provide electricity to over 400,000 homes with clean energy. Apparently, the company is contemplating investment of around US$ 2.8 billion for development of project.

Government initiatives across India and China aimed at bolstering renewable energy landscape are expected to remain catalyst in fueling offshore crane market revenue during the assessment period. Prominently, attributes such as better vessel stability and light weight make offshore crane highly sought-after among end-users.

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MEA offshore crane market size is likely to augment during the forecast period as the region is replete with investments. For instance, National Petroleum Construction Company (NPCC) in November 2019 proclaimed an investment of US$ 89.8 million to spur subsea construction projects in the UAE. According to several reports, NPCC is contemplating product expansion as they look to underpin many deep-water projects not only in the Gulf but also across the globe. Meanwhile, high maintenance and operational cost may derail the growth of offshore crane market.

Leading companies are overwhelmingly prioritizing strategic business strategies such as price and product differentiation strategies. Prominent players eyeing for offshore crane market size expansion are Liebherr, Palfinger AG, National Oilwell Varco, Huisman Equipment, Kenz Figee, MacGregor, Seatrax and Heila Group. These companies are increasingly investing in research and development activities to help boost reliability and energy efficiency.

Author Name : Sunil Jha

Flourishing real estate sector to propel U.S. home remodeling market outlook through 2026

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U.S. home remodeling market has emerged as one of the most lucrative avenues of investment in recent years. The industry is now set to observe a remunerative growth trend in the coming years. This development can be accounted for growing customer expenditure on homes. In addition, a rapidly growing real estate sector would likely further outline the market expansion through 2026.

Apart from the growing real estate, surging inclination of homeowners towards luxurious and energy-efficient living spaces would majorly contribute to the development of overall market outlook. In fact, people with homes in major states of the U.S. like Florida, Texas and California spend heavily on home renovation.

Citing an instance, as per the NAHB (national association of home builders), in 2018, the expenditure per improvement within California was more than $9,565, which is almost 20% more when compared to that in 2017.

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In addition, growing customer awareness regarding environmental protection and energy conservation through the use of green materials would majorly drive the market share in the coming years.

According to a research report by Global Market Insights, Inc., U.S. home remodeling market is estimated to surpass $500 billion through 2026.

Speaking of the end-use segment, kitchen additions and improvements is set to observe substantial growth trend in the coming years. Growing customer preference towards streamlined designs, materials, and textures due to the mounting popularity of farmhouse and mid-century designs would majorly propel the segment growth.

Apart from kitchen improvements, steadily growing need for hardwood flooring would augment the segment growth and thereby drive the market size. In addition, mounting popularity of ceramic tiles would also outline the segment expansion in the coming years.

Meanwhile, growing prevalence of various bathroom fittings like wall-mounted toilets, floating vanities, rounded rectangle vanity mirrors, and console sink vanities would proliferate the market share through 2026.

Additionally, the roofing sector is also set to observe substantial growth outlook owing to rapid technological upgrades and advancements happening every year. Growing emergence of various innovations is also likely to add up to the industry share through 2026.

Apart from the end-use segment, increased growth in the sales of existing homes in the region would majorly drive the market share. Expenditure on home improvements is growing due to rising cost of material and labor, further adding up to the market expansion. Additionally, increased spending of homeowners will also possibly drive the growth of U.S. home remodeling market.

Moreover, growing house rentals is likely to accelerate U.S. home improvements. In fact, as per the Joint Center for Housing Studies of Harvard University, nuclear family homes attributed to 39% of the whole U.S. rental homes.

All in all, rising homeowners’ expenditure, mounting house rentals, the growing prominence of kitchen improvements are likely to facilitate a massive range of opportunities for U.S. home remodeling market players.

The industry is inclusive of players such as Watsco Inc., US LBM, HD supply, Beacon roofing supply, ABC Supply, Ferguson Enterprises, The Sherwin-Williams Company, Pella Corporation, Andersen Corporation, and Kohler Co. among others.

Author Name : Bhushan Tambe

Robust growth of mining sector to boost rubber conveyor belt market forecast

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Global rubber conveyor belt market will grow substantially in the years to come mainly due to widespread demand in the mining sector. Ease and convenience of these belts in transportation of bulk materials make them best-suited for a range of open pit and underground mining applications. These belts offer excellent power saving capabilities and can efficiently transfer materials over short, medium as well as long distances, even across topographically difficult terrains with steep angles.The anti-abrasive, heat-resistant, flame-resistant and oil-resistant characteristics of rubber conveyor belts make them suitable for long-distance coal conveying. A growing global population along with robust economic growth is leading to increased utilization of resources such as coal, iron ore and copper, in turn fostering the growth of the global mining sector.

The costs for setting up of rubber conveyor belts in a mine or a plant are a considerably high. Moreover, high maintenance and replacement costs associated with these belts may slightly impede the industry growth in the coming years. However, the fact that these belts substantially reduce labor and transportation costs will present favorable opportunities for conveyor belt manufacturers worldwide.

Global rubber conveyor belt industry share is segmented into textile reinforced belts, steel reinforced belts, and solid woven belts, among others based on materials. Textile reinforced rubber conveyor belts are further classified into performance textiles and commodity textiles. These belts offer excellent dimensional stability and have low moisture absorption.

Textile reinforced belt segment was valued at more than USD 3 billion in 2018. Nylon and polyester blends are generally used to manufacture textile reinforced belt carcasses. This helps them achieve exceptional abrasion and fatigue resistance and ensure high strength and durability.

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On the basis of application, rubber conveyor belt industry share is classified into light weight, medium weight, and heavy weight. Rubber conveyor belts used for light weight applications generally have lower tensile strengths. These belts facilitate transportation of lightweight materials within a plant, production or a mining facility. Light weight rubber conveyor belt market size is estimated to register a CAGR of more than 3% over 2019-2026.

Rubber conveyor belts are deployed across mining, metal processing, power generation, cement manufacturing, and recycling, among few other end-users. The mining sector is further segmented into coal, metals and others. Mining industry captured over 41% share of global rubber conveyor belt market during 2018 and will continue to be the largest end-user over the forecast timeline.

North America rubber conveyor belt industry will garner revenues in excess of USD 1.5 billion by 2026. The presence of several prominent mining companies in the region will open up promising opportunities for regional manufacturers. The U.S. is also one of the leading mining countries in the world with an extensive range of ferrous and non-ferrous metals which will complement the regional outlook.

Asia Pacific is anticipated to account for a major share of global rubber conveyor belt market forecast. This can be largely attributed to rapid growth of mining, manufacturing, power generation, and recycling industries in the region. Europe will likely record slightly slower growth rate compared to other regions mainly due to increased adoption of renewable energy sources for power generation.

Author Name : Hrishikesh Kadam

Strict government norms to foster marine turbocharger market share between 2019-2026

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Marine turbocharger market is projected to witness exponential growth due to the introduction of strict government regulations that are focused on alleviating environmental concerns and tackling climate change. Additionally, numerous technological advancements in the field of propulsion technologies are also likely to foster industry outlook.

Moreover, increasing economic development and growing customer expenditure on recreational activities are positively influencing adoption of recreational boats that use the latest of propulsion technologies to get around.

In fact, with growing demand for faster speeds and higher power throughputs in recreational sports activities, the market is likely to witness a rise in product sales during the projected study period.

According to a recent research report by Global Market Insights, Inc., global marine turbocharger market is expected to surpass $780 million by 2026.

Rising seaborne trading as well as favorable trade regulations are fueling the demand for new commercial ships. This has influenced several shipping companies to increase the cargo carrying capacities. It has also impelled the increase in ship sizes to address increasing seaborne trade.

Additionally, there is an increasing demand for improved turbocharger and engine efficiencies from ship operators to meet the IMO regulations and EEDI targets. These demands are set to emerge as the key factors that would push the marine turbocharger market trends over the forecast timeframe.

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Meanwhile, several advancements in propulsion technologies would possibly drive the market share in the forthcoming years through product advancements. One such advancement, the CFD (Computational Fluid Dynamics) technique is used in turbine blades and compressor wheels to examine the secondary and primary flow structure across impeller blades.

Likewise, use of advanced tools such as ANSYS and FEA techniques results in adaptable development processes. Due to this flexibility, turbochargers can be modified at later stages. In the projected timeframe, techniques like CFD, ANSYS and FEA are likely to positively influence the turbocharger market.

Additionally, technological advancements have also innovated marine turbocharger diversification. Products can now be designed specific to different industry demands. Advanced marine turbochargers provide improved efficiency and higher pressure ratios which reduces their environmental impact. With these benefits product adoption is likely to witness a sizable shift in coming years.

The adjustable vanes turbochargers are anticipated to experience high growth due to their ability to contribute towards the alteration of the aspect rations. This further changes turbine’s effective area.

Moreover, improvement in pressure ratios and reduced lag time are few of the benefits that enhance overall engine efficiency, it also allows flexible air management to optimize combustion. Such value-adding features would push product adoption in the industry.

With regards to the technological landscape, electric-assist turbocharger is anticipated to witness immense growth. The projected growth is being attributed to the numerous advantages it offers.

Incorporation of electric assist turbochargers offers lower level of specific fuel consumption at high speed and helps maintain variations of speed in low load conditions. Optimum fuel usage and maintenance of speed at low loads are the key factors which would positively impel the market outlook.

Companies are using methods and materials to develop lightweight structures and higher-pressure ratios. Citing an instance, in 2016, Kompressorenbau Bannewitz GmbH launched its ST27 turbocharger series. the new product is capable of delivering a pressure ratio of about 5:5:1.

Today, service providers play a crucial role in the upgradation and modernization of existing systems. These efforts are focusing on optimizing operational flexibility and reliability. With these efforts the marine turbocharger market is set to chalk out a lucrative outlook for industry expansion.

Author Name : Bhushan Tambe

Proliferating promotion of healthy lifestyle to boost the worldwide grapeseed oil market by 2025

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An unprecedented shift towards plant-based ingredients across myriad industries has been majorly driving the worldwide grapeseed oil market over the recent years. In the era riddled with the fear and chances of prevalent heart diseases, grapeseed oil acts as an impeccable source of essential fatty acid restricting the chances of heart disorders. This prompts the product to be explicitly used in food and beverage applications on a large scale across the globe.

An upsurge in the prevalence of heart diseases, diabetes, high cholesterol, and obesity has promoted the rise in the growth trajectory of the global market size owing to its wide scale usage in food products.

Grapeseed oil serves as an integral natural antioxidant that possesses, antifungal and antimicrobial properties to augment the immune function and contribute massively towards a healthy body growth.

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The product is best suited to be utilized in various food formulations subjected to its ability to withstand heat and combat inflammation in the body. It serves as a high source of fatty acids, linoleic acid which remains separated in the body and are required for healthy development and growth.

The vegetable oil consumption globally accounted for a revenue share of USD 200 million tons in 2018 in terms of volume. This is attributed to the large scale ingesting of vegetable oil due to high concentration of unsaturated fats which help in maintaining a proper balance of essential levels of omega fatty acids and cholesterol levels.

However, an ideal intake of grapeseed oil would substantially aid in exempting joint inflammation and pain, promoting boost of immunity, reducing the oxidative damage, and augmenting the bone strength.

Likewise, the increasing interest towards natural and non-synthetic ingredients across Europe, led by UK and Germany, has leveraged the production of sustainable and eco-friendly food and beverages. Not to mention, this inclination has led the retail sales of organic food products in Germany to account for approximately USD 11 billion in 2017.

Additionally, high grade advancements in the extraction of plant based derivatives coupled with focus on opting healthy lifestyle would stimulate the grapeseed oil industry outlook over 2019-2025.

The extraction of the oil via the chemical process involves low temperature operation to withhold the corrosion of unsaturated fatty acids leading to the high production output alongside diminished energy consumption. Other than this, the process also offers robust effectiveness in oil extraction from the natural plants for furnishing the industrial scale production.

Given that the cosmetics domain is one of the most profitable application sectors of the grapeseed market, the North America region subsequently stands as one of the most remunerative growth grounds for grapeseed oil industry expansion from the cosmetics sector. Estimates claim that the North America grapeseed oil market size from cosmetics application is likely to cross a mammoth valuation of 85 million by the end of 2025.

The United States is one of the most progressive nations of North America for the expansion of regional cosmetics market. This is probably owing to the paradigm shift towards organic cosmetic products on the grounds of their chemical free nature and skin improving capabilities. Grapeseed oil is rather beneficial in reducing the wrinkles, providing protection against free radicals and high skin hydration.

Reliable reports state that the skincare products hold the largest share of natural and organic beauty products market in the U.S. – accounting for nearly 40 per cent of the business. Surging consumer inclination towards global brands and high economic affluence have further bolstered the grapeseed oil market share across North America.

The diversified landscape of grapeseed oil market has prompted the industry giants to indulge in mergers and acquisitions with an intent to sustain their geographical presence. This has allowed the worldwide grapeseed oil market size to be pegged at USD 560 billion by the end of seven years term.

Author Name : Vinisha Joshi