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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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

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

Europe Biogas Market to witness major gains via commercial & industrial applications over 2017-2024, Germany to majorly contribute toward the regional growth

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The shifting trends toward the anaerobic digestion of organic wastes and generation of energy from biogas are all set to impel biogas market in Europe. Having garnered a reputation of making substantial contributions toward the maintenance of green environment & energy conservation, biogas has found immense penetration across the food & beverages, waste-to-energy, power, and technology industries. Regional governments in Europe are encouraging the use of biogas across the region by providing tax benefits, feed-in-tariffs, and rebates to the end-users. Earlier this year, Germany has announced its goal of lowering carbon emissions by 40% till 2020 and by 95% up to 2050. It has been projected that renewable energy would account for 60% of the country’s overall energy consumption by 2050, thereby creating a favorable growth path for the country in Europe biogas market. Biogas power stations have also accounted for a major portion of Germany’s bio energy industry. The region possessed nearly 8900 of biogas power stations in 2015, which is another positive indicator that Europe biogas market would accrue lucrative gains in the ensuing years.

 Germany Biogas Market Size, By Feedstock, 2016 & 2024 (USD Million)

      Germany Biogas Market Size, By Feedstock, 2016 & 2024 (USD Million)

Firms such as Geotech and Ansyco have firmly established their presence across Europe biogas market through the launch of novel gas analysis technologies. Recently, in a bid to expand their product portfolios, both the firms have collaborated to develop an innovative system referred as BIOGAS 3000 capable of effectively & constantly monitoring and analyzing of biogas production processes. In an important breakthrough witnessed across the biogas industry in Europe, DuPont and Bock UK Limited have also made a strategic pact that will help the latter depict DuPont’s new biogas enzyme technology referred as OPTIMASH® AD-100 for its commercial sale across the U.K, which would certainly augment Europe biogas market.

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Biogas is inherently deployed across the residential, industrial, and commercial arenas. The mounting demand for power supply, environmental awareness, and the rising preference for renewable energy sources have resulted in commendable demand & large-scale deployment of biogas manufacturing plants in Europe. As per estimates, biogas applications across the industrial sector in Europe will surpass an annual installation of 600 MW by 2024. The escalating requirement for low-power & cost-efficient technologies for treating biodegradable wastes is slated to impel Europe biogas market from commercial applications.

With the rising trend of using sustainable energy across the continent, Europe biogas industry is expected to have bright growth prospects in the ensuing years. Effective government measures such as providing tax concessions and rewards for the biogas applications are expected to impel the growth of this business sphere in Austria, which would considerably augment the revenue graph of Europe biogas market as well. Germany, on the other hand, is expected to surpass 300 MW by 2024, subject to the rising need for curbing carbon emissions and maintaining a green environment. The numerous efforts undertaken by member countries are certain to stimulate the growth of Europe biogas industry.

Rising economies of scale are expected to encourage companies to make heavy investments across Europe biogas industry. With the continent touted to be the hub for renewable energy in the future, it comes as no surprise to note that Europe biogas market has been forecast to surpass a revenue of USD 2 billion by 2024.

Author Name : Dhananjay Punekar

U.S. commercial boiler market to be strongly characterized by energy sustainability trends, annual installations to surpass 80,000 units by 2024

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Shifting preference toward energy efficient boilers for carbon footprints abatement is providing a significant impetus to U.S. commercial boiler market outlook.  Add to it, mandatory roll outs in the country for the reduction of the hazardous gas emissions is further encouraging the end use industries to rapidly deploy these energy efficient commercial boilers. EPA, for instance, has recently initiated NESHAP (National Emission Standards for Hazardous Air Pollutants) to govern carbon emissions across commercial and industrial sectors. In tandem with the regulatory framework, technological interference has also played a major role in influencing the overall U.S. commercial boiler market dynamics. Building automation systems, boiler to boiler communication, and remote diagnostics are some of the novel technologies that have immensely complemented the product landscape. Driven by such affluent advancement pipeline, the U.S. commercial boiler market stood at USD 3,000 million in 2017.

  East South Central Commercial Boiler Market size, By Capacity, 2016 & 2024 (USD Million)

  East South Central Commercial Boiler Market size, By Capacity, 2016 & 2024 (USD Million)

The remarkable expansion of U.S. commercial boiler market can be majorly credited to the country’s growing investment in healthcare and educational sectors. In 2016, U.S. registered a healthcare expenditure of USD 3 trillion, which was almost 17% of the nation’s GDP. The widening scope of potential healthcare applications ranging from space and water heating in hospitals to equipment sterilization indeed has increased the U.S. commercial boiler market demand. According to the Centers for Medicare & Medicaid Services (CMS), approximate healthcare spending in the U.S. in 2016 was USD 10,000 per person – a data bearing testimony to the strong stance the healthcare application holds in the regional landscape. The region further being swayed by cold climate further provides a slew of opportunities to the commercial boiler industry players. For the record, North Dakota, Minnesota, South Dakota, Alaska have been touted as the coldest regions in the U.S. with recorded average winter temperature of up to 12°F.

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Elaborating further on the application landscape, the commercial infrastructure development, particularly the office sector is significantly driving the commercial boiler market demand in the U.S. As per estimates, the U.S. commercial boiler industry share from office applications was recorded at USD 700 million in 2017. With the go-green notion encompassing the infrastructure domain, this application is set to garner lucrative proceeds in the ensuing years. Ohio stands as a major beneficiary of the growing trend of energy efficient buildings. From 2014-2015, Ohio’s construction sector witnessed a surge of 6%. The overall Ohio commercial boiler industry share is forecast to exceed USD 150 million by 2024.

In terms of the fuel prevalence across U.S. commercial boiler industry, natural gas-based boilers have garnered immense traction, primarily owing to their low emission rates and superior efficiency. As per reliable data, natural gas is touted as one of the chief fuels in the commercial sector with more than 3,177,099 million cubic feet recorded consumption in 2017. In terms of the profitability potential of these boilers, the gas fired U.S. commercial boiler industry is projected to surpass USD 3 billion by 2024. The demand for oil fired boilers is anticipated to be sluggish with a target CAGR of 2% over 2018-2024, on account of low efficiency and high emission rates.

Regionally, Florida, Virginia, Texas, and Delaware are the four major significant geographies that display a strong contendership in the U.S. commercial boiler market. Florida had a notable contribution toward the overall industry share in 2017 and is anticipated to surpass an annual installation of 1500 units by 2024. Robust development in the medical and tourism sectors is chiefly stimulating the regional growth. Texas commercial boiler market is also projected to generate a substantial momentum in the overall landscape, having procured 50% of the West South Central commercial boiler industry share in 2017.

All in all, the U.S. commercial boiler market has been undergoing a radical transformation over the recent years. With the resurgence of commercial sector and rising and unstoppable notion of go-green capturing the entire business fraternity, commercial boiler industry is set to emerge as one of the most affluent verticals of the energy cosmos. The fraternity is forecast to surpass a revenue of USD 3.5 billion by 2024.

Author Name :Satarupa De

APAC surface mining equipment market to witness the fastest growth to 2022, China to majorly drive the demand

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Surface Mining Equipment Market is continuously evolving with the involvement of new technologies in the mining process which are making the operations more safe, efficient, and user-friendly. Over the past decade, the mining industry has seen innumerable changes addressing the need of cost mines with high production and low operating cost. Increasing proliferation of sophisticated equipment especially in emerging nations that offer precision as well as time efficiency in the mining process have augmented the overall market growth. As per a report by Global Market Insights, Inc., “Surface mining equipment industry is slated to exceed USD 28 billion by 2022, with 3.6% CAGR projection over the period of 2015-2022.”

U.S. surface mining equipment market size, by technique, 2012-2022 (USD Billion)

U.S. surface mining equipment market size, by technique, 2012-2022 (USD Billion)

Considering the various techniques that are implemented in the mining process, open pit surface mining equipment market is gaining a huge popularity.  The fact can be credited to the increasing demand for diamond, Sishen, and Palabora copper ore across the world. These metallic ores are mainly excavated by open pit mining. It accounted for almost 31% of the overall industry share in 2014 and is forecast to collect USD 9.31 billion by 2022. Surface mining equipment industry from strip mining is also expected to grow substantially at an annual rate of 3.5% over 2015-2022, with a revenue projection of USD 12 billion by 2022.

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Overall metallic ore excavation covered a major portion (45%) of the overall surface mining equipment market in 2014. With the rising demand for metal ores like gold silver, zinc, and chromium globally, this sector is projected to record a revenue of USD 13 billion by 2022.  Non-metallic ore extraction based market will also chart a profitable growth trajectory.  As per an estimation, this sector is anticipated to cover 30% of the overall surface mining equipment industry by 2022. Salt, lime, and phosphate are the three-main products, that are thriving the non-metallic ore extraction market share.

Asia Pacific surface mining equipment market is highly influenced by the growing metal and coal mining activities across the belt. Heavy demand for metallic ore extraction and high mineral consumption for domestic purposes are the two major factors that are allowing APAC to stand as one of the prominent players in the global market.  With India and China at the growth forefront, APAC industry is set to register the highest growth at an annual rate of over 4% over the coming five years. North America dominated by U.S. surface mining market is also anticipated to cover a lucrative share of the overall industry, by accounting for a revenue of USD 7 billion by 2022.

Technological interventions in the surface mining equipment market have resulted in maximum exploitation of mines and have also catered selective mining processes which enables high-quality extraction. The ability of these hi-tech equipment to improve the surface stability by involving less vibration, noise, and dust in the process is making the market demand high. However, lack of skilled professionals along with health hazards associated with the process is expected to negatively affect the growth curve of the industry. Nonetheless, increasing global demand for gold, diamond, iron ore, coal will drive the surface mining equipment industry share in the years ahead.

Key players of surface mining equipment market include Vale S.A, BHP Billiton, Rio Tinto, Anglo American, Barrick Gold, Freeport-McMoran, and Goldcorp.

Author Name :Satarupa De

A regional synopsis of industrial gas turbine market: U.S. to emerge as a highly viable regional contender

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The rising demand for electricity coupled with the shift of preference toward gas fired technologies will expedite industrial gas turbine market over the coming years. These turbines are inherently internal combustion engines which fire an air & fuel mixture to generate hot gases, that are used heavily across the power generation, manufacturing, and O&G sectors. Governmental concerns with regards to the harmful GHG emission effects from coal fired plants is also forecast to propel the expansion of industrial gas turbine market.

U.S. Industrial Gas Turbine Market Size, By Capacity (USD Million)
U.S. Industrial Gas Turbine Market Size, By Capacity (USD Million)

Of late, regional governments have been striving to make noteworthy financial contributions toward the manufacturing of new gas-fired generation facilities that will propel industrial gas turbine industry trends. For instance, in 2017, the U.S. regulatory bodies approved a plan by Xcel Energy for replacing its 680 MW coal fired plant with a 786 MW gas fired power station. Such consistent efforts by government entities and other regulatory organizations is likely to positively impact global industrial gas turbine market.

Unveiling China industrial gas turbine market trends

Reduction in GHG emissions is one of the principal factors that would expedite industrial gas turbine market across major geographies across the globe. China specifically, is one of the most profitable growth grounds for the expansion of this industry. In 2016, the nation of China introduced a new set of action plans aimed at reducing GHG emission levels to 18% by 2020. In fact, the supportive regulatory landscape of the country has been instrumental in aiding the growth of the regional industrial gas turbine market. The nation’s government has been striving toward the development of huge, lucrative gas fired power projects as well as clean energy integration.

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Prominent global manufacturers have lately been shifting their focus toward expansion across China, primarily owing to the surge in demand and a supportive statutory regime. The renowned Siemens for example, in 2018, obtained supply orders for two of its H-class gas turbines for the CHD Guangzhou Zengcheng project.

How the United States has emerged as a pivotal avenue for industrial gas turbine market

The U.S. is another avenue that would expedite the industrial gas turbine market across the globe. The U.S. Federal Government apparently has plans to reduce GHG emission levels to 28% by 2025. Furthermore, the region is a powerhouse of research & development programs that demand a slew of investments from the government. Additionally, the deployment of combined cycle generation systems has been gaining precedence, which would further impact the product demand in the nation. According to the ICF International, turbines manufactured by the U.S. companies in the year 2016, contributed to more than 70% of the working natural gas-fired combined cycle projects in the country. Driven by a supportive regulatory framework and the plethora of R&D programs in gas turbine technology, U.S. industrial gas turbine market is expected to exceed an annual installation of 3 GW by 2024.

 

Major players in global industrial gas turbine market include Man Diesel & Turbo, Mitsubishi Hitachi Power Systems, Kawasaki Heavy Industries, Ansaldo Energia, Bharat Heavy Electricals Limited, General Electric, Zorya-Mashproekt, NPO Saturn, Vericor Power Systems, Siemens, Cryostar, Capstone Turbine, Harbin Electric, and Opra Turbines.

Major industry players have been working to expand their presence across the globe. Pricing still remains a major factor considering business expansion, on account of which huge corporations tend to adopt myriad inorganic strategies to consolidate their position in the market.

Private bodies and government entities have also been making major investments in order to replace traditional systems with high-grade systems, owing to the latter’s improved power to weight ratio, high power rating, and compact size. Also rising number of investments toward shale gas exploration activities will impel industrial gas turbine market size, which will surpass 20 GW By 2024.

Author Name :Saipriya Iyer