ENERGY

Surgical robots market to register double-digit CAGR over 2019-2025, technological advancements in medical robotics to drive industry expansion

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With technological advancements all set to revolutionize healthcare in the coming years, surgical robots market is anticipated to capture a significant share of the changing medical industry. Of late, precision robots have been able to make minimally invasive surgeries a reality and are being increasingly used in the fields of urology, gynecology, oncology, gastroenterology, thyroid, bariatric, colon and rectal surgeries. Not only does robotic surgery vastly assist doctors in increasing dexterity and reducing fatigue, advancement in robotic technology recently made it possible for the surgeon to conduct the world’s first telerobotic surgery from 32 kilometers away.

U.S. Surgical Robots Market Size, By Component, 2018 & 2025 (USD Million)
U.S. Surgical Robots Market Size, By Component, 2018 & 2025 (USD Million)

Besides such ground breaking progress, surgical robots have been involved for long procedures like knee and hip replacement. For instance, Mako Surgical, the Michigan based orthopedic device giant recorded nearly 76,900 knee and hip replacement procedures in 2018 with 650 Mako robots placed around the world.

Surgical robots market is expected to gain a massive CAGR over 2019-2025 as current trends in healthcare have conclusively indicated that robotic surgery is the future of surgical procedures. There are several prominent factors that will be adding palpable stimulus to the surgical robots industry, the chief among them being a rapidly expanding geriatric population. The aging of the baby boomer generation has affected many aspects of the healthcare sector primarily due to the fact that older individuals tend to require more healthcare services including surgeries. Demographic trends such as the aging of millennials, especially female millennials should also be taken into consideration as far as surgical robots industry projection over the coming years is considered, as hysterectomies are most commonly conducted on women in their early 40s and medical robots are often used in such procedures.

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Prominent surgical robots like Da Vinci, developed by robotic surgery company Intuitive Surgical, completed 5 million surgeries in 2018 through the more than 4,500 surgical robots sold by the company worldwide. Intuitive Surgical, the Sunnyvale, California based company holds a dominant position in the surgical robots industry and in 2019 made it to the headlines as it undertook steps to expand its footprint in Sunnyvale investing over $15 million for expanding its area by 36,000 sq.ft. Such investments not only underline Intuitive’s massive success in the manufacturing of advanced medical devices but also the return of investment promised by robotic surgery in the future.

Since experts in the medical field consider robotic surgeries to be the future of myriad surgical procedures, various surgical robotic companies such as TransEnterix, Mazor Robotics, Stryker, Medrobotics are striving to capture larger share in the surgical robots market. For instance, in late 2017 TransEnterix gained FDA approval for its Senhance robotic surgery system that has the potential to challenge the Da Vinci surgical system in the future. Medtronic, the medical-device giant, with its acquisition of Mazor Robotics, plans to launch its own robotic surgical system that is anticipated to present a challenge to Intuitive Surgical.

Johnson & Johnson has made its foray into robotic surgery with the acquisition of Auris Health. Auris’ surgical robotic system such as the Monarch is a competitor for the ION system designed by Intuitive for minimally invasive lung biopsy. Additionally, Johnson & Johnson is also working with Verily, an Alphabet subsidiary, over a joint venture named Verb Surgical that focuses on developing robotic surgery technology.

Researchers seem to be on the run, and are expected to continue developing surgical robots that add precision to a surgeon’s maneuvers. Rather they are surging forward with the development of robots that can perform surgeries on their own. Recently, ripples had been created in the surgical robots industry with bioengineers from Boston Children’s Hospital developing a robot that has navigated independently within an animal heart to repair a cardiac valve. This goes beyond surgeons using controllers in surgical procedures and utilizes AI and image-trained algorithms for autonomous navigation. With the rapid pace of technological innovations assuring further advancements in the field of robotic surgery technology, surgical robots market size is poised to surpass $24 billion by 2025.

Author NameParoma Bhattacharya

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Ethane-based natural gas liquid market to record exponential growth over 2019-2025, recent U.S. shale boom to add impetus to industry expansion

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The global natural gas liquid market come to forge several growth avenues in recent times, chiefly due to the diverse applications of natural gas liquids such as ethane, propane butane and pentane plus in industrial processes. Indeed, manufacturing plastic and producing petrochemical feedstock to create ethylene and propylene, synthetic rubber, etc., are rather commonplace across industries. The continued growth of these sectors will add stimulus to natural gas liquid market, the size of which is expected to surpass 14 million barrels per day by 2025.

Norway Natural Gas Liquid Market Size, By Product, 2018 & 2025 (Mbl/day)
Norway Natural Gas Liquid Market Size, By Product, 2018 & 2025 (Mbl/day)

Though the world is debating the effects of plastics on the environment, the oil and gas sector has projected that plastics and chemicals will record sharp rise in demand and will end up compensating for shrinking demand for gasoline post 2030. Such projections are supported by the increased demand for ethane registered in the petrochemicals industry as ethane is the natural gas liquid feedstock of choice for this particular industry.

It is being speculated that the global natural gas liquid market will receive immense impetus from the expansion of the plastics industry. In spite of the hue and cry against the use of plastics, according to a report by the International Energy Agency, the demand for plastics has actually doubled since 2000. Oil and gas companies have spent several billion dollars developing petrochemical plants across the globe to meet the growing demand for ethylene, the building block of plastic that comes from ethane.

Low natural gas prices have brought more than 40% of the global ethane-based petrochemical production capacity to the United States. It is notable to mention that U.S. has in the recent years outpaced the Middle East in capacity for petrochemical production due to a surge in natural gas production in the shale fields in the Permian basin and elsewhere. The demand for ethane has been pivotal to the dramatic shift in regional petrochemical production, clearly underlining the future growth potential for the ethane-based natural gas liquid industry.

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To further elaborate on the matter, it should be mentioned that in the U.S. domestic ethane production is anticipated to surpass 2 million barrels per day by 2021. Experts are of the opinion that nearly two-third of the increased ethane production capacity will be allotted to producing ethylene, which is used in the manufacturing of polyethylene, the most common type of plastic used around the world. According to estimates, over 2019 – 2020, the U.S. will add approximately 6.1 million tons of ethylene production capacity, which will far outdo the 304,000 tons capacity anticipated from the Middle East.

Ethane is a key feedstock for petrochemical manufacturing and the U.S. petrochemical industry reacted to increased feedstock accessibility and resultant lower prices of ethane by adding capacity to existing plants. For instance, ExxonMobil plans a $2 billion expansion of its petrochemicals complex located at Baytown, Texas. The expansion is the latest round of extension underway that has mainly been undertaken due to the cheap U.S. natural gas liquids unearthed by the domestic gas shale boom. The U.S. is currently planning to expand the petrochemical infrastructure of the country with an investment of more than $200 billion and many projects are either already operational or under construction. ExxonMobil’s project is only one instance of the immense progress of the petrochemical industry in the country.

Natural gas liquids are possibly some of the most underappreciated chemical feedstocks that play a considerable role in the manufacturing of numerous consumer goods. For instance, in the case of a simple running shoes, the outsole and midsole of the shoe are made of sturdy polyurethane foam, the insole cushion is made of ethylene vinyl acetate (EVA) an ethylene derivative and the exterior is of nylon, a derivative of benzene.

All of these are natural gas liquid derivatives which are all pervasive and can be found in heating fuels, building materials, car parts, synthetic fabrics, carpeting, snowboards, backpacks, hiking boots and countless other items that are indispensable for the modern world. With the petrochemicals industry on the verge of experiencing a massive push from the shale boom in the U.S., it is only natural that the natural gas liquid market will boast of immense growth prospects over 2019-2025.

Author Name : Paroma Bhattacharya

America SLI battery market trends set to be characterized by overseas expansion by battery makers, U.S. to be a chief growth avenue

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Owing to the ever-expanding automotive sector coupled with easier availability of lead-acid batteries, the America SLI battery market share has been growing at an exceptional pace in the last few years. The technological enhancements being made in terms of product design and development has prompted the regional governments to unveil favorable policies pertaining to automotive sector. This has invariably helped the America SLI battery industry participants to focus on the refining the EFB, AGM, and flooded SLI battery technology to gain competitive advantage and fulfill the varying demands of the automotive sector.

Brazil SLI Battery Market Size, By Technology, 2018 & 2025 (USD Million)
America SLI Battery Market Size, By Country, 2025 (USD Million)

U.S. to be the major contributor toward strengthening the growth potential of America SLI battery industry

One of the most prominent countries to have secured a leading position in terms of research and development pertaining to SLI batteries is the United States. Governmental initiatives involving industry participants to enhance the automotive SLI battery technology has been a pivotal factor that has benefited the U.S. SLI battery market in the recent times. This particular trend can be affirmed by the recently signed agreement between the U.S. Department of Energy’s Argonne National Laboratory and 14 members of the Advanced Lead Acid Battery Consortium. The agreement aims to overhaul the lead-acid battery technology and transform it into the next generation of advanced batteries.

Specifically, the collaboration would use advanced X-ray technology to see if the participants can improve the potential of lead-acid batteries like SLI. In this regard, it has to be noted that lead-acid batteries are well-established in both industrial and automotive settings in the last few decades. However, they have fallen behind rival technologies such as lithium-ion batteries which have secured about 90 percent of the global battery market for utility energy storage.

In the light of such circumstances, the collaboration between the U.S. Department of Energy and the prominent 14-member battery manufacturers consortium appears significant as it would work to make the lead acid batteries more appealing to the power grid and improve the automotive SLI battery technology.

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Apart from research programs and governmental support, it is quite prudent to mention that the surge in investments toward automobile production coupled with robust battery recycling infrastructure across the nation has undoubtedly assisted the U.S. SLI battery industry to accelerate the pace of product penetration in the last few years. This momentum is likely to sustain in the forthcoming years as has been noted in the research report put together by Global Market Insights, Inc., which predicts that the U.S. SLI battery industry would register an annual growth rate of more than 1 percent over 2019-2025.

With the presence of globally renowned battery manufacturers such as Crown Battery, Trojan Battery Company, Johnson Controls, Exide Technologies, Continental Battery, Power Sonic Corporation, and many others, the competitive spectrum of America SLI battery industry is quite saturated. Apparently, these companies have now turned their attention toward developing countries to gain competitive edge and expand their business overseas.

For instance, the US-based Johnson Controls unveiled a strategic investment plan in 2015 which aims to expand AGM SLI battery production capacity in China, Germany, and the U.S. as well. Since 2011, the company has invested USD 112 million in Europe to increase manufacturing of AGM batteries and its flagship Johnson Controls SLI battery units. It invested a similar amount to expand its Zwickau plant and is now planning to pour in USD 200 million to construct a new automotive battery manufacturing plant in Shenyang, China. Reportedly, the proposed plant would manufacture 6 million proprietary Johnson Controls SLI battery models each year.

Apart from overseas expansion, the major battery manufacturers are further focusing on improving automotive battery technology by partnering with regional players. Needless to mention, with improved product design and production technologies, the America SLI battery market is set to unveil a new range of batteries that would be more durable and corrosion-resistant than ever before. This would certainly augment the revenue share of America SLI battery industry which is, as per reliable estimates, slated to surpass USD 16 billion by 2025.

Author Name : Saif Ali Bepari

Gas insulated power equipment market expansion to be characterized by the launch of new gas insulated transmission lines, Asia Pacific to emerge as a major growth terrain for the industry

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The promising growth graph of the global gas insulated power equipment market can be comprehended by the recent launch of a 550kV-class gas insulated switchgear by Toshiba which has facilitated transportation of a single line main unit as a whole unit for the very first time in the world. The Japanese multinational succeeded in lowering the volume of the gas insulated switchgear by almost 20 percent, while realizing a considerable cost reduction by cutting down the number of parts.

Gas Insulated Power Equipment Market, By Product (USD Million)
Gas Insulated Power Equipment Market, By Product (USD Million)

Moreover, the installation work time has also been reduced substantially as a lesser amount of time is being needed for assembly and testing on site. Taking into account the aforementioned ingenuity shown by leading gas insulated switchgear manufacturers, it is a given that such technological progress would favor the gas insulated power equipment industry in the times to come.

How is the gas insulated transmission line product segment impelling the growth prospects of the overall gas insulated power equipment industry?

When it comes to the product spectrum of the gas insulated power equipment market, the prominence of gas insulated transmission line has grown in the recent years owing to its excellent characteristics such as minimal electrical ageing, low maintenance cost, and effective capacity to withstand short-circuit. One of the major factors that has favored the increasing popularity of this segment is the fact that numerous gas insulated transmission line makers have focused on research and development activities to create new products that would reduce environmental hazards and the total project cost.

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The German manufacturing behemoth Siemens AG, for instance, has recently introduced a new gas insulated transmission line for transporting large volumes of energy at high DC voltages. Reputed universities such as Dresden University of Applied Sciences, Berlin Technical University, and Eastern Bavarian Technical University Regensburg have supported the research team from Siemens to develop a new gas insulated DC transmission line named the Compact Transmission Line for Direct-Current High Voltage for laying underground.

It has to be noted that the presently available gas insulated transmission line is suited for only alternating current. The uniqueness of Siemens’ transmission line lies in the fact that specific properties at high direct voltages have been taken into consideration while designing the components. Moreover, the gas insulated power equipment industry is witnessing for the first time that a transmission line can transmit up to 5 GW of power per system. Needless to mention, such high voltage transmission capability along with enhanced insulation properties of the new products is ensuring that gas insulated transmission line segment contributes massively to the expansion of the gas insulated power equipment industry.

In terms of regional growth graph, Asia Pacific nations would be the major consumers of gas insulated switchgear and transmission lines owing to the ever-increasing power demand from emerging economies. Evolving power consumption patterns in corporations and households along with swift technological progress would augment Asia Pacific gas insulated power equipment industry. In this regard, it quite prudent to mention that developing nations such as India and China would be leading consumers of gas insulated power equipment as they continuously build electrical capabilities and infrastructure to meet the growing demand for electricity.

It comes as no surprise that gas insulated switchgear and transmission lines are being increasingly installed at substations and power facilities as they are viewed as a system essential to ensure a stable supply of electricity. Owing to this changing mindset of larger energy producers and the necessity to reduce maintenance personnel and site area, the revenue target of gas insulated power equipment market, as per reliable estimates, is set to exceed USD 30 billion by 2025.

Author Name :Saif Ali Bepari

Global gas generator sets market to accrue substantial revenues from the industrial segment over 2019-2025, peak shaving applications to gain momentum

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Rising concerns over greenhouse gas emissions and steadily increasing consumption of power has proliferated the global gas generator sets market, owing to crucial application segments like power backup, continuous power and peak shaving. Generator sets (gensets) are essential to meet consistent demand for uninterrupted electricity supply in commercial and industrial estates as well as to support emergency operations in areas affected by natural disasters. Fast-paced growth of the residential sector worldwide will facilitate the expansion of the gas gensets industry and help it garner a broader consumer base. Augmented production of fuel sources like natural gas, shale gas, biogas, sewage gas and syngas will certainly make gas-powered generators a more viable alternative than diesel engines.

U.S. Gas Generator Sets Market Size, By End Use, 2018 & 2025 (USD Million)
U.S. Gas Generator Sets Market Size, By End Use, 2018 & 2025 (USD Million)

Essentially, natural gas boasts of several obvious advantages over diesel and remarkable advances in technology to harness the potential of gas could render diesel generators obsolete in the years to come. Natural gas is a cleaner burning fuel and emits lesser amounts of sulphur, carbon dioxide and other particulates than diesel, besides helping to meet stringent emission mandates laid down by governments. The gas generator sets market will experience amplified demand from not only favorable low-emission operations, but also due to massive gas exploration projects being undertaken all over the world. For instance, the North Field near Qatar is deemed to be the biggest offshore gas project in the world, where on the other hand the U.S. has also recently discovered vast reserves of oil, gas and natural gas liquids in the Permian Basin.

With continued production of natural gas resources to power global industries and households, the gas gensets market will amass considerable revenues over the next few years. The industrial segment represents a major growth area for gensets, since manufacturing and processing facilities consume large amounts of electricity and often run machines for extended periods of time. Most industrial plants worldwide, small, medium or large, carry out 24 hours operations and any interruption in power supply could lead to notable financial losses. The gas generator sets industry could help businesses effectively address power outage issues resulting from various factors using an eco-friendlier fuel.

Demonstrating the significant potential of the industrial end-user segment, it was reported that in 2016 the industrial output of China had reached approx. $4.56 trillion. In the same year, U.S. recorded and output of about $3.6 trillion and Germany’s industrial output had exceeded $1 trillion as well. This statistics affirm the vast prospects for the gas gensets industry from various industries such as auto manufacturing, food and consumer goods production. In addition to power outage, peak shaving could emerge as a prominent application area for gas-powered gensets, since it is required to assist in power management and optimize utility bills.

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Elaborating further, peak shaving basically means using lesser energy supplied by utility providers during peak demand hours, when variable pricing could lead to highest rates being applied to the power consumed within that time. Though it is more complicated to setup gensets for peak shaving purpose, it could deliver substantial returns on investment in a few years along with saving on monthly bills. Managing peak shaving through the use of a generator offers the additional benefit of powering the entire operation of an industrial facility in case of a power outage. Improved accessibility to natural gas implies that the gas gensets market could witness a higher demand from businesses looking to save considerable annual costs through peak shaving.

All in all, the global gas generator sets market will gather immense momentum over the forecast period owing to increased adoption by industries for managing electricity usage and realizing various cost advantages provided by the equipment. Anticipated growth in the industrial segment, such as China’s ‘Made in China 2025’ vision or the worldwide increase in processed food consumption, will guarantee a lucrative future for the industry. Leading players in the gas gensets market include Caterpillar, Cummins, Clarke Energy, Kohler SDMO, Genmac, Mahindra Powerol, Briggs & Stratton, MTU and Wärtsilä.

Author Name : Pankaj Singh

Europe electric radiators market to register substantial gains from rising installations in existing buildings, convection radiators to witness augmented demand over 2019-2025

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The rising environmental concerns and subsequent implementation of low-carbon economy policies are expected to drive Europe electric radiators market expansion over the coming years, with consumers and governments looking to adopt more clean energy products. Development of green building technologies is helping countries move faster towards a zero-emission future, as traditional heating and cooling equipment are being replaced by modern alternatives. Appliances powered solely by electricity are becoming more affordable and are less complex to set up, influencing demand for the electric radiators industry in Europe. In addition, the colder weather conditions experienced by most European countries has made efficient heating equipment a must-have across households, commercial establishments and industries in the region.

Denmark Electric Radiators Market Size, By Technology, 2018 & 2025 (USD Million)
Denmark Electric Radiators Market Size, By Technology, 2018 & 2025 (USD Million)

Technically, though gas is considered to be cheaper than electricity, there are significant long-term advantages of using an electric radiator. Where a gas-powered heating system can lose a notable amount of energy while operating, their electric counterparts are known to transform 100% of electricity utilized into heat. Often portable and requiring only a plug to operate, these machines allow controlling individual room temperatures instead of having a central system that heats the entire house or building. Lack of any pipework needed for operations makes electric radiators easier to install than boiler systems, demonstrating another key benefit which will undoubtedly lead to considerable growth prospects for the Europe electric radiators market.

In the European Union, reportedly 75% of heating and cooling applications are powered by fossil fuels, coercing nations to develop stringent policies for meeting future climate goals. The electric radiators industry could assist residential and office spaces in shifting away from conventional fuels and use emerging sources of energy like renewables. Countries like Sweden, Finland and Denmark have shown prominence in building wind, solar and tidal power plants, along with other EU nations where green energy initiatives are gathering pace. Rapid advancements in renewable energy projects will ultimately result in lower energy costs, further advocating the significance of the Europe electric radiators industry.

In 2017, nearly 17.5% of the total energy production in the EU was from renewable sources, as compared to 8.5% in 2004. The Europe electric radiators market is poised to witness accelerated consumption owing to increased supply of wind and solar energy to power grids, many of which are connected to existing buildings and businesses. Supposedly, 80% of all buildings to be present in the U.K. in 2050 have already been constructed, signifying the immense need for refurbishing and renovating existing structures to enhance their energy efficiency.

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Speaking further, an estimated 40% of the carbon footprint of U.K. can be attributed to the buildings environment, making it essential to install energy-efficient heating solutions that would contribute to the country’s low-carbon roadmap. The region is home to thousands of listed buildings that are being converted into modern establishments, offering tremendous opportunities to install electric heating options, including radiators. As evident, the electric radiators market in Europe will experience growing revenues from the upgradation of existing houses and buildings in the U.K. as well as rest of the countries in the region. Convection radiators, in particular, could observe augmented demand in Europe  due to cost, safety and efficiency benefits offered.

Seemingly, convector radiators heat the room to required temperature faster and are much easier to incorporate with a room’s interior design. They also have reduced touch temperature which lowers the risk of fire and is not harmful to children. Even though these equipment might entail a higher purchase price, they are said to consume about 10% lesser energy and they do not leave residual heat. Representing an effective space heating solution, convection radiators could potentially deliver remarkable returns for the electric radiators market in Europe, which is projected to reach remunerations of more than US$600 million by 2025.

Author Name : Pankaj Singh

How will the commercialization landscape of FACTS market change with the rising demand for grid modernization and the surging adoption of renewable energy?

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The revenue graph of flexible AC transmission systems market is slated to remain rather exponential in the years to come, on account of the rising need for high-quality power across numerous applications. The demand for high-quality AC transmission of electric energy can be attributed to the need to improve controllability and enhance power transfer capability of the network. There are also several benefits to using flexible AC transmission systems such as increased quality of supply, increased stability as well as financial benefits.

Flexible AC Transmission Systems Market Size, By Configuration, 2018 & 2025 (USD Million)
Flexible AC Transmission Systems Market Size, By Configuration, 2018 & 2025 (USD Million) ?

Given the increasing adoption of various electrical components, the adoption graph of FACTS industry will continue to proliferate in the years to come. Transmissions are required to accommodate large weather-dependent shifts in production within widely dispersed sites of renewable energy generation, which are mostly linked to the main transmission grid. The growing requirement for premium and reliable transmission systems will thus drive the FACTS market.

Global warming will dramatically impact the demands pertaining to transmission systems whose architecture is inherited from an era of fossil fuel dominance. The industry will be characterized by a massive need to upgrade existing grid networks, particularly due to the increasing adoption of clean energy sources. The primary goal behind revamping grids is the flexibility to adapt to new technologies in the grid.

Grid modernization has become a catch-all phrase to refer to changes required in the power grid. Grid modernization always implies the growing application of new technologies that are enhancing the intelligence of the grid. Furthermore, as humanity becomes more dependent on the seamless flow of electricity, the vulnerability of the grid grows by the day. Failure of the system for prolonged durations could have serious consequences. Therefore, increasing efforts and spending toward grid modernization will also contribute toward the enhancing FACTS market share in the coming years.

The rapid adoption of renewable sources for electricity generation serves as another driving factor for the global industry. FACTS devices play a vital role in shifting bulk generation of power to remote areas from the present grid structure to raise the concentration of load-centered generation. Systems dominated by renewable sources will also require new means to bolster and stabilize AC networks without coordinating help from rotating generators.

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Recently, the New York Independent System Operator approved new transmission projects, in order to meet the state’s clean energy standard, and help make the overall system more affordable and reliable. The project is anticipated to benefit the state’s electric consumers by allowing the provision of environmentally desirable power necessary to meet state energy goals. Projects like these have encouraged installers to direct their focus on restructuring the present electrical infrastructure, which has led to an immense surge in the demand for flexible AC transmission systems. Hence, the rising adoption of renewable energy networks will favor the global FACTS industry outlook over the coming years.

The system’s ability to prevent unbalanced loads, voltage fluctuations as well as fluctuations in power will also help contribute substantially toward the industry expansion. Natural disasters often end up destroying poles, grids, transmission lines and transformers leaving millions of people without power. However, installations of FACTS safeguard the system and enhance the operational life of the entire electric network.

For example, in 2017, when hurricane Maria hit America’s territory in the Caribbean, it left millions without power for weeks. Given ongoing outages and the region’s deferred maintenance, the island is set to rebuild a new grid based on a resilient and cleaner model. Recently, the island also pledged to reach 100% renewable energy by 2050 and link new sources of clean energy and microgrids to the main power system. Expansion or upgradation of grid networks in a bid to safeguard the system and enhance the operational life of electric infrastructure will thus boost the global FACTS market share over the coming years.

The global flexible AC transmission systems industry is bound to receive considerable momentum from the paradigm shift observed in the power transmission industry. As per a research report by Global Market Insights, Inc., FACTS market size would exceed $2.5 billion by the end of 2025.

Author NameKrithika Krishnan