OIL AND GAS

U.S. oil and gas infrastructure market to amass considerable returns from the Southwest, surging crude oil exports to augment the regional industry

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The U.S. oil and gas infrastructure market has been expanding rapidly with the prevalence of space drilling and exploration activities over the last few years. Leading oil and gas suppliers have been involved in exploration and excavation activities mainly in the Gulf of Mexico and southwest region to meet the rising energy demand across the country. A research report on the annual energy requirement across U.S. and Canada has predicted that these regions would have to invest nearly USD 26 billion per year on the crude oil and natural gas midstream energy infrastructure development.

Central Region Oil & Gas Infrastructure Market Size, By Gathering & Processing, 2017 & 2024 (USD Million)
Central Region Oil & Gas Infrastructure Market Size, By Gathering & Processing, 2017 & 2024 (USD Million)

Rapid industrialization and an exponential rise in the population across U.S. are the principal factors that have been furling the energy demand across the country, thereby impelling U.S. oil and gas infrastructure market trends. The increasing concerns about the depleting fossil fuel resources and rise in the dependency on the Middle East countries for fulfilling the requirement of energy have also encouraged the U.S. government to invest heavily in the development of oil and gas infrastructure, further augmenting the industry.

The Shale Revolution across North America has indeed transformed the focus of the continent as far as oil and gas developments are considered. For the record, with the advancement of oil and gas infrastructure, the per day oil production of U.S has risen from 5 to 9 million barrels and natural gas production has risen from 55 to 72 billion cubic feet in the last few years. The transformation has seemingly occurred because of the rising involvement of businesses in the refining, processing, and transportation of oil and gas. So far, reports claim that most of the companies in oil and gas sector have invested approximately USD 390 billion for developing new infrastructure.

Elaborating on the technology intervention, oil and gas production companies have lately been adopting new technologies to improve the quality and quantity of extracts. The main factor that has encouraged oil and gas companies to increase fossil fuel production is the removal of the restriction on the export of crude oil. In 2015, the Congress government lifted the restriction of crude exports that has opened the doors for oil and gas companies to export natural gas. As of now, the government has engineered its focus primarily on Houston and Corpus Christi for infrastructure development investments. Houston is America’s oil capital through which government supplies crude to other countries. On these grounds, in 2017, the Southwest accounted for a 30% share in U.S. oil and gas infrastructure market pertaining to the presence of Barnett Shale and Eagle Ford in Texas.

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Owing to the sudden rise in the production and transport of oil and gas, problems associated with traffic congestion have making their mark across the U.S. In addition, the increasing number of trucks which transport oil and gas have been becoming a major cause for the rise in the number of traffic accidents. In order to deal with such serious issues, the U.S. government has been forcing companies to deploy transmission pipelines from supply areas to market areas. In this regard, the companies have been investing to construct a cluster of facilities from gas wells to crude oil storage and treatment tanks. The whole process requires considerably sophisticated infrastructure development tools ranging from surface and lease equipment, oil, gas and NGL pipelines, gathering and processing, export terminals, and many more, that would most overtly expedite U.S. oil & gas infrastructure industry trends.

The shifting focus of the U.S. government toward the deployment of gas-fired power plants for fulfilling the energy needs of the country along with the rise in the export activities have been further accelerating the demand for various kinds of infrastructure development accessories. An increasing number of crude oil refineries and the relatively rising importance for enhancements, upgradations, replacements, and refurbishments of older facilities have also been contributing toward the development of U.S. oil and gas infrastructure industry. Driven by a growing number of oil & gas processing plants, U.S. oil and gas infrastructure market is poised to generate a revenue of more than USD 80 billion by the end of 2024.

Author Name : Sunil Hebbalkar

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China energy storage market growth to be characterized by the rising popularity of lithium-ion battery technology, surging EV deployment to augment the regional industry trends

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The shifting focus of the Chinese government toward the adoption of renewable energy sources has been impelling China energy storage market share. The rapidly increasing energy needs and subsequently decreasing non-renewable energy sources have raised concerns in China about the substantial requirement for renewable energy facilities. The uprising carbon footprints across the country owing to the increased emissions from fossil fuel-based applications have also promoted the adoption of renewable energy systems. In this regard, the Chinese government has been implementing various policies to accelerate the use of renewable energy alternatives such as solar power plants, wind turbines, and hydropower plants.

China Energy Storage Market Size, By Technology, 2017 & 2024 (USD Million)
China Energy Storage Market Size, By Technology, 2017 & 2024 (USD Million)

Ever since the government has depicted an increasing interest in renewable energy reforms, the energy storage sector in the region has become a lucrative avenue. Numerous companies and foreign investors have also been showing interest in China energy storage market. Moreover, the rapid space transformation in the automotive sector which is experiencing an exponential rise in investment in the development of electric vehicles for reducing the pollution level is also fueling the demand for energy storage batteries. Currently, there are 487 electric vehicle manufacturers located in China. The main reason behind the presence of such a large number of EV manufacturers is the supportive government policies along with the availability of subsidies for the establishment of businesses. The Development and Reform Commission reported that recently, funds worth USD 47 billion have been released to promote EV technologies.

The revolutionary change in the automotive sector across China has significantly propelled the requirement of lithium-ion batteries. Numerous companies have been investing in the development of Li-On batteries to target the Chinese market. For instance, Jiangxi Nanshi Lithium and Electronics is planning to invest USD 72 million to construct a plant having a capacity of 10,000 ton per year production of lithium carbonate at Yichun city in Jiangxi province. It has also received funding from Fengchao Energy which is one of the subsidiaries of domestic carmaker Great Wall Automobile.

For the record, within January to October 2018, China produced 879000 new energy vehicles, out of which 860000 vehicles have been sold. With the demand for Li-On power batteries increasing by the day and the expanding energy vehicle sector, the players in the China energy storage market have been focusing on the improvement of storage facilities with the launch of pilot production plants.

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The government policies have been crafted in a such a way that international players are facing various challenges to gain traction in China energy storage market. Several international players in the automotive sector like Tesla, GM, and Ford have expressed their interest to establish their plants in China electric vehicle market. Moreover, Tesla has revealed its plant to start the production of cars within five years in China. The Made in China 2025 blueprint has also encouraged domestic companies to control nearly 70% of the fully electric car industry by the end of 2020.

In order to resolve the regulatory issue associated with a foreign direct investment, most of the foreign companies have been collaborating with the Chinese domestic companies. For instance, in 2017, the Germany-based inverter maker, Kostal, and Chinese battery manufacturer, BYD signed a deal to form a joint venture especially for developing solutions for end-to-end energy storage. The surging requirement of batteries not only in the automotive sector but also in the renewable energy sector is this poised to accelerate the strategic involvement of foreign companies in China energy storage industry.

In line with the growing infrastructure development, surging installation of renewables, and increasing demand for electric vehicles, China energy storage market has revolutionized the way the overall energy domain is perceived. The rise in the establishment of Li-On production plants has remarkably decreased the overall price trends of the China energy sector. The thrusting investment from the foreign countries will further strengthen the energy storage technology and its applications in the nation. Reportedly, by the end of 2024, China energy storage market will surpass a revenue collection of USD 6 billion.

Author Name : Sunil Hebbalkar

A concise outline of utility boiler market in terms of the geographical landscape: Asia-Pacific to emerge as a key regional contender over 2018-2024

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The global utility boiler market is anticipated to emerge as one of the most promising verticals in the ensuing years, primarily driven by the burgeoning economic development across the globe and the massive energy demand. For instance, the net electricity generation in the European Union was 3.10 Mn GWh in the year 2016. Nearly half of the net electricity generated in the European Union in 2016 came from combustible fuels, as per the Eurostat report. Increasing efforts to alleviate the electricity demand-supply gap together with stringent regulations towards carbon emissions will propel the adoption of utility boilers.

Vietnam Utility Boiler Market Size, By Technology, 2017 & 2024 (USD Million)
Vietnam Utility Boiler Market Size, By Technology, 2017 & 2024 (USD Million)

Major developing economies are focusing extensively on the enlargement of production capacity, which will further advance the utility boiler market remuneration potential. The deployment of captive power plants inside large-scale industries such as pulp & paper, cement, refining, and chemical will also serve to bolster the market size. Spanning major geographies across the globe, utility boiler market has been touted by experts to emerge as one of the most remunerative business spheres by 2024.

The following paragraphs enumerate an in-depth analysis of the utility boiler market with respect to the regional landscape:

Unveiling utility boiler market trends across the Asia-Pacific

The Asia-Pacific utility boiler market is predicted experience an upward trend in the approaching years due to the burgeoning industrialization and urbanization in countries like China and India. Several government-led initiatives to curb power supply issues in Asia Pacific belt will also add impetus to the regional utility boiler market. Governments across APAC have also introduced aggressive capacity expansion plans in order to fulfill the present & future electricity demand, thereby pushing the product demand.

Currently, India is the world’s third largest producer of electricity with an ever-increasing power demand. In a recent turn of events, GE Power has reportedly declared that Tata Chemicals and NTPC have selected its technology to upgrade two coal-fired boilers with GE’s low NOx firing system. GE’s new technology would help reduce NOx generation by as much as 40 percent from present levels in the two units. Indeed, India’s new coal plant emission regulations have fueled the adoption of this low emission technology. Reportedly, the regulation requires all utility boilers, captive and industrial plant boilers to amend their firing systems to manage NOx emissions.

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Unveiling utility boiler market trends across Europe

The Europe utility boiler market is estimated to garner substantial momentum in the near future on account of escalating power demand in the region, along with robust energy conservation initiatives. Apart from this, the high-scale adoption of energy efficient power generation technologies will also significantly boost product demand. The European Union has introduced various schemes and initiatives to fast-track energy-efficiency investments. It has also issued the Energy Efficiency Directive which sets rules and obligations in accordance with EU’s 2020 energy efficiency goals.

Earlier this year, InnoEnergy, Europe’s sustainable energy innovation biggie, and RAFAKO, one among EU’s biggest boiler manufacturers, have entered into an agreement where the leading Polish energy company acquired shares in InnoEnergy. Reportedly, InnoEnergy has fashioned many flagship European projects of the likes of Northvolt giga-factory based in Sweden. Other key players in the Europe utility boiler market are anticipated to follow suit with M&As and partnership strategies to enhance their market share and customer base, thereby boosting the utility boiler industry size.

The competitive landscape of utility boiler market is inclusive of a slew of prominent contenders such as Mitsubishi Hitachi Power Systems, Bharat Heavy Electricals Limited, Rentech, AMEC Foster Wheeler, Babcock and Wilcox, CMI, Siemens, IHI, Doosan Heavy Industries, A.C. Boilers, Thermax, ,Victory Energy Operations, and General Electric.

Author Name : Nikita Chaurasia

Gas fired boiler market to be driven by strict energy efficiency norms, Europe to primarily characterize the industry trends over 2018-2024

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The proliferating use of sustainable energy alternatives for maintaining a clean environment has been propelling gas fired boiler market share. Over the last few years, the surging use of fossil fuel resources in various energy generation facilities has led to the emission of a large amount of hazardous gases prominently carbon dioxide. In order to curb the increasing level of carbon footprints, most of the regional governments have been striving to generate awareness among the masses and industrialists to adopt clean energy facilities for fulfilling their energy needs. The growing concern among the regulators about the depleting fossil fuel resources is also one of the major factors fueling the gas fired boiler industry size.

Japan Gas Fired Boiler Market Size, By Capacity, 2017 & 2024 (USD Million)
Japan Gas Fired Boiler Market Size, By Capacity, 2017 & 2024 (USD Million)

 

Presently, people have become more aware of the cost-effectiveness and economic use of energy generating facilities, which has been changing their preference toward natural gas from oil. A recent report on home improvements claims that as per the U.S. Energy Information Administration, in the year 2017, oil cost an average of USD 1700, while natural gas accounted for less than USD 900 for heating a house. The year before, price fluctuations led to oil heating costs of around USD 2000, while natural gas witnessed a steady cost around USD 900 in the last winter. Thus, in order to produce cheaper energy for households, offices, commercial sites, and industrial areas, natural gas based solutions such as boilers have come to be the product of choice. Indeed, the United Nations Industrial Development Organization (UNIDO) claims that in 2016, chemical industries contributed a manufacturing value of USD 400 billion to the gas fired boiler market share.

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As per an analysis by the U.S. Energy Information Administration, nearly 40% of the energy consumed in the residential sector is received from gas fired and space heating facilities. The concerns raised by the Department of Energy related to the energy efficiency of gas furnaces has also encouraged players in the gas fired boiler market to work on the enhancement of the energy level of the appliances. In 2015, the DOE set a minimum allowable efficiency level for energy generating utilities to 80 percent. However, most of the gas furnaces those are already deployed in the market meet the defined level of energy efficiency.

The deployment of stringent regulatory norms along with the standards set by the policymakers to promote the clean energy initiatives have been generating lucrative business opportunities for the players in the gas-fired boiler industry. In Europe, several countries have taken initiatives to promote clean energy practices by setting a goal to become a carbon dioxide emission free region. In addition, to encourage the European citizens and industries to use highly efficient and environmentally friendly heat generating equipment, the EU has enforced a ban on the use of aging boilers and set strict eco-design standards for household boilers.

As of now, water heaters and gas boilers having integrated energy-efficient condensation technology are allowed for sale in the European Union. In this regard, the companies located in Europe as well as outside the European region have been adopting new design directives to extend their reach in Europe Economic Area (EEA), which would eventually propel Europe gas fired boiler market.

The European Environmental Bureau (EEB) has found that heating equipment of Europe accounts for 25% of the continent’s carbon dioxide emissions, which is nearly equal to the emissions from the automotive industry. The EEB also claimed that the development of boilers in line with the standards will significantly reduce the energy demand as well as home energy bill by on an average 480 euros by 2020. Reportedly, gas and oil-fired central heating boilers covered more than 80% of the Europe market share, which will further have a considerable impact on the future industry trends.

Indeed, the growing awareness among the regulatory bodies regarding the surging need for energy efficiency and emission-free heating systems has been accelerating the gas fired boiler market trends. The presence of a strict regulatory spectrum has been promoting companies to adapt to eco-design standards for expanding their reach across the U.S. and Europe. The continuous involvement of companies in the enhancement of existing product ranges for achieving energy efficiency goals will also further strengthen the product demand. For the record, by the end of 2024, the overall gas fired boiler market will surpass a revenue collection of USD 20 billion.

Author Name : Sunil Hebbalkar

Europe residential boiler market to be driven by gas-fired variants, surging number of renovation activities to fuel the regional industry

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The shifting focus of European countries toward developing sustainable, energy efficient heating systems is driving Europe residential boiler market. Over the last few years, in line with the mounting concern about the growing emissions from boilers that have been hampering the ecosystem, the European Commission has taken a decision to optimize the sustainability of residential boilers. Consequently, the development of sustainable and energy efficient heating system variants has helped decrease energy bills across the EU. Reportedly, the heating and cooling systems deployed at the buildings and industries have been accounting for approximately 50% of annual energy consumption of the European Union.

Poland Residential Boiler Market Size, By Fuel, 2017 & 2024 (‘000 Units)
Poland Residential Boiler Market Size, By Fuel, 2017 & 2024 (‘000 Units)

As per a study carried out by the European Commission, nearly 50% of the buildings across Europe possess old boilers with an efficiency rate of less than 60%. Out of those old boilers, 47% are oil boilers, 22% are gas boilers, 58% are coal boilers, and 34% are direct electric boilers, prompting an immediate renovation of sorts. However, the rate of renovation in the EU was very less in 2016. In this regard, most of the countries have been deploying significant regulatory policies to boost refurbishment activities for renovating existing buildings. Some of the countries have been encouraging tenants and house owners to invest in the refurbishment of existing heating systems by providing cost-effective energy solutions to the people staying in the multi-apartment buildings.

Speaking along to the same lines, regional governments have also been executing public awareness programs to educate people about the selection of high performance and clean boiler systems for ensuring energy renovation and making buildings more efficient. Such strategies will increase the adoption rate of smart and renewable energy facilities across European countries. As of now, renewable energy accounts for approximately 18% of the primary energy consumption in the heating and cooling sector and is quite likely to depict a massive rise ahead, further pushing Europe residential boiler market trends.

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Considering the long-term benefits associated with the deployment of renewable boiler systems for residential applications, policymakers as well as energy companies have been putting their efforts to encourage the development of next-generation products. The increasing availability of advanced and smart residential boiler systems will significantly result into a rise in the product demand. In addition, numerous European countries have set a target to decarbonize residential buildings by 2050 by reducing oil imports and increasing dependency on renewables. The implementation of supportive energy efficient directives across most of the European countries is thus poised to enhance Europe residential boiler industry share over the years ahead.

In accordance with the increasing importance for the clean and efficient boiler systems, players in the Europe residential boiler market have been keenly looking forward to developing an eco-friendly design for air heating devices and electricity generation equipment. The emerging technologies integrated into the development of smart residential boilers will further promote the industry trends over the years ahead. Owing to the multi-tasking capability of recently developed residential boilers, Europeans have been observed to have shifted their preference, prompting regional boiler manufacturers to come up with multi-tasking and energy efficient boiler variants. For instance, gas boilers have been preferred due to their capability to generate electricity as well as to deliver hot water. As per estimates, driven by a supportive regulatory scenario and the rise in the consumers’ preference, gas boilers will achieve the third position in the European market by 2030. Indeed, a report by Global Market Insights, Inc., claims that by the end of 2024, Europe residential boiler market size from gas-fired products would exceed 3 million units in terms of annual installations by the end of 2024 owing to the surging acceptance for this home heating technology.

It is noteworthy to mention that growing importance for the energy efficiency and the surging replacement of old energy generation equipment have been driving Europe residential boiler industry considerably. The enforcement of various directives and norms to reduce carbon dioxide emissions will also have a positive influence on the product demand. In addition, with the support of subsidized energy utilities, the European masses are expected to adopt the new generation boilers on a large scale that will have a notable impact on the industry growth. For the record, by the end of 2024, Europe residential boiler market will surpass a revenue collection of USD 6 billion.

Author NameSunil Hebbalkar

Solar water heater market to amass considerable returns by 2024, surging smart technology development to fuel the product demand

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The revenue graph of water heater market has been depicting a rise with the transformative shift from conventional water heating systems to smart products. In accordance, energy companies have been continuously investing in capacity expansions and portfolio enhancements to combat the rising product demand. Since the last few years, the surging concerns about energy efficiency and increasing importance for renewable energy sources have had a significant impact on the manufacturers of water heaters.

U.S. Water Heater Market Size, By Application, 2017 & 2024 (USD Million)
U.S. Water Heater Market Size, By Application, 2017 & 2024 (USD Million) 

In fact, most of the companies have now shifted their focus toward the development of renewable energy based products such as solar water heaters. Most players in water heater industry have also been striving to integrate smart technologies in the upcoming products to gain a competitive edge in the market.

Recently, a renowned smartphone manufacturer, Xiaomi introduced a smart gas water heater in China, in which the firm has integrated a smart app control and digital LED display that can be operated through a smartphone. In addition, the water heater is also equipped with digital thermostat technology with which users can control the temperature of water accurately. The increasing popularity of gas-based water heaters owing to their capability to provide hot water instantly at a lower costs as compared to other fuel variants is poised to propel gas water heater market share over the years ahead.

The shifting focus of regulators toward the deployment of energy efficient and renewable energy solutions has prompted water heater market players to invest in R&D activities. Most of the regional governments also have been providing subsidies and incentives over the purchase of solar water heaters to enhance product adoption. With the increasing awareness about the hazardous impact of GHG emissions from conventional water heater, most of the residential and industrial consumers have been giving preference for solar water heaters.

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The frequent inventions related to solar water heater systems have also augmented the product demand. In India for example, the Himachal Pradesh State government, presented an innovation award to the Himalayan Research Group for the development of a cost-effective mountain solar water heating system in 2016. Indeed, the product has been reported to have had a positive influence on the water heating practices of people living in the rural areas of the region. The usage of the mountain solar water heating system in fact, has also drastically reduced the traditional practice to use firewood. This proves that clean energy initiatives by the regional governments will further encourage companies in the water heater market to come up with cost-effective and innovative energy solutions.

Over the last few years, India has emerged as one of the lucrative business destinations for the companies in the water heater industry. The major factor attracting the investors toward the Indian sub-continent is the surge in industrialization and urbanization trends that has been fueling the demand for water heating systems on a large scale.

Validating the aforementioned fact, the Chinese electric appliance manufacturer, Midea Group has recently decided to set up its home appliances production plant in India to manufacture the product locally. In the next five years, it is planning to invest INR 1,350 crore in this plant to modernize it and aims to increase the product portfolio by 2020. At this plant, Midea Group would also manufacture appliances like water heaters, water purifier, washing machine, and refrigerators.

In yet another instance affirming the popularity of capacity expansions, the Italian water heater manufacturer, Ariston Thermo commenced its first manufacturing plant in Bahrain. At this newly constructed plant, the firm plans to manufacture nearly 250,000 electric water heaters, with the help of which it is likely to emerge victorious amidst its rivals in the water heater industry, specifically across MEA, since the region has been experiencing substantial demand for water heaters across commercial as well as residential applications.

Aided by the progressive growth in the global economy, several countries have emerged as manufacturing grounds for potential investors. The growing preference for solar energy based water heaters and the rising number of clean energy initiatives have also been encouraging water heater manufacturers to launch a range of advanced products. Driven by the surging adoption of renewable energy facilities, water heater market will surpass a revenue collection of USD 30 billion by 2024.

Author NameSunil Hebbalkar

Steam turbine market to be driven by the ever-increasing efforts of prominent industry contenders, global valuation to exceed USD 24 billion by 2024

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The growing importance of clean energy policies mandated by various regional governments has been propelling steam turbine market considerably. These turbines are specifically used to convert thermal energy received from the power plant to electric energy. Considering the rising significance of energy efficiency, steam turbine industry players have been working to bring to the market, varied product ranges to be used across the large number of thermal and nuclear power plants that are being constructed on a global basis.

Europe Steam Turbine Market Size, By Capacity, 2017 & 2024 (USD Million)
Europe Steam Turbine Market Size, By Capacity, 2017 & 2024 (USD Million)

In addition, the companies have been ensuring that the products are incorporated with enhanced performance and design. The surging involvement of energy companies to fulfill the increasing energy demand owing to the rapid urbanization and industrialization across the globe is poised to push steam turbine market trends over the years ahead.

Lately, countries such as Japan are continuously striving to rely completely on renewable energy sources for reducing the impact of GHG emitting energy generation facilities on the environment. For instance, recently, the Government of Japan revealed its plan to develop biomass-based renewable energy thermal power plant. In order to develop this plant, the Japanese government has signed a long-term agreement with Toshiba ESS owing to the prominent requirement of high technology assisted steam turbine equipment. In fact, the Japanese government and Toshiba have also been working on many other projects related to fuel conversion for improving the efficiency of old thermal power plants. The dedication of regional governments toward the development of low-carbon emitting and environment-friendly power plants is thus poised to propel steam turbine industry trends.

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In addition to regional governments, several energy companies have also been coming together to construct sustainable power plants for accomplishing their energy needs. Merely a few days ago, Siemens and STEAG GuD Herne GmbH signed an agreement to construct a combined cycle power plant. This plant will produce nearly 600 MW electricity and a steam output of 400 MW, that would help upsurge the efficiency of the plant. The increasing popularity of distributed energy systems has thus been having a positive influence on the steam turbine market size.

Taking into account the growing demand for steam turbines, prominent companies have been aiming to increase the reliability and performance of the technologies deployed in these products. Validating the aforementioned fact, in May 2018, GE has decided to expand its capabilities with the launch of a new power services business unit. The development of new facility centers has been proving to be quite beneficial for the energy companies to modernize thermal barriers, cooling systems, and combustion components integrated in the steam turbine. In addition, they can also decrease the backlog of orders received from various countries. The competitiveness in the steam turbine market is likely to grow over the years ahead with the surging investment in the development of power plants.

Speaking along similar lines, in 2017, the Czech Republic based turbine manufacturer and supplier, Doosan Škoda Power won another energy project in Jordan. Doosan is known for its excellent services especially related to steam turbines. Through this new contract, the Czech Republican company plans to deliver a new steam turbine with a 70 MW generator that has been installed at the Samra combined cycle gas-fired power plant located in the Hashemite Kingdom of Jordan.

Indeed, with rapid industrialization, it is rather discernible that the shifting focus of the industries toward enhancing power production capabilities will fuel the product demand over the years ahead. The surging use of steam turbines in the commercial applications pertaining to its higher efficiency will significantly generate lucrative business opportunities for turbine manufacturers. As renewable energy grids are gaining more popularity on account of their energy efficiency, steam turbine market will surpass a revenue collection of USD 24 billion by the end of 2024.

Author NameSunil Hebbalkar