OIL AND GAS
Ongoing grid retrofitting and refurbishment activities to foster the global substation market outlook by 2026
With ongoing industrialization focusing on fostering overall economic growth in a positive manner with help from foreign direct investments to support commercial and industrial establishments would also boost the demand for primary as well as secondary electric distribution infrastructure.
Additionally, rapid digitalization throughout industrial establishments has substantially integrated a competitive industry scenario, primarily due to the growing energy demand from data centers and communication base stations. The rising adoption of reliable, advanced, fire-resistant, energy efficient and reliable electric equipment has established a positive business scenario.
As per a research report by Global Market Insights, Inc., global substation market is estimated to surpass an annual installation of 24,500 units by 2025.
Utility aided by electrical infrastructure has been positively influenced by government and regulatory directives subject to the deployment of the grid. Regulatory schemes relating to the rural electrification along with the inclusion of decentralized micro-grid infrastructure throughout standalone regions have augmented the product penetration.
Furthermore, establishment of energy networks that are sustainable and are supported by investments from regulatory authorities and local institutions like the IFC, World Bank and other similar organizations throughout developing nations may positively influence the industry dynamics.
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With respect to voltage level, low & medium voltage substations that are up to 145 kV have achieved a substantial thrust owing to rapid commercial expansion and large-scale residential applications throughout developing nations in recent years.
Moreover, the suburban migration has also led to the development of residential complexes as well as multi-story apartments, thereby accelerating the industry growth. Furthermore, encouraging consumer as well as regulatory inclination for incorporating sustainable electricity networks would further encourage industry growth.
On the geographical front, the United States substation market is set to foresee a 5% growth by 2026. Growing demand for effective transmission & distribution infrastructure coupled with an increase in commercial and industrial investment would stimulate the business growth.
Moreover, government initiatives to promote technologies of substation automation & monitoring control systems backed by strict regulatory norms might further influence the industry share. The U.S. utilities, which includes cooperatives, public power providers and utilities that are investor owned, invested around $4.8 billion back in 2016 in smart grid control systems and technologies.
Additionally, ongoing industrial development and large-scale suburbanization throughout APAC and MEA have led to significant increase in demand for substation systems.
Overall, the above-mentioned factors are likely to offer a wide array of growth opportunities for substation market.
The competitive spectrum of global substation market includes companies like Siemens, Emerson Electric, ABB and Eaton among others. These prominent players are also employing strategic alliances with technology providers to execute effective monitoring & control.
Author Name : Nandita Bhardwaj
U.S oil & gas analytics market to record significant gains as oil companies leverage data analytics to foster business growth
The U.S oil and gas analytics market would likely witness promising growth on account rising adoption of data gathering devices. Increasing use of IoT as well as IIoT is further supporting this growth. The American oil and gas industry is looking to transform its value chain entirely and data gathering and IoT devices are effectively supporting these efforts.
Key players in the region are focusing on effective management of operation and cost and advanced data analytics software are likely to contribute significantly towards these efforts.
Increasing upstream oil and gas investment, increasing adoption data collection devices, and robust investment towards infrastructure are some of the prominent factors that are stimulating the market growth.
Moreover, increasing stringency of cybersecurity regulations in the country would likely foster use of advanced data analysis software solutions in the coming timeframe.
Increased spending on O&G infrastructure would also considerably increase the adoption of analytics tools across numerous verticals. Increasing volumes of oil and gas supplies have instigated the need for additional infrastructure across the United States with Southwest and Northeast regions contributing over 36% and 19% of total infrastructure investments in the country.
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According to a 2017 API report, the refining as well as the gathering & processing divisions accounted for around USD 5.2 billion and USD 4.9 billion respectively.
The ample availability of proven oil and gas resources supplemented with an exploration of unconventional reserves would positively impact the business growth over the forecast period.
According to the U.S Department of Energy, proven gas reserves increased by 85%, which is more than 450 Tcf, in 2019. Moreover, the growing need for production optimization along with the current deployment of IoT and IIoT across drilling and production assets could drive industry landscape over the forecast period.
Meanwhile, with several technological advancements, the companies are now able to generate real-time information from production platforms and reservoirs. This enables companies to make an early prediction regarding equipment failures. With recent enhancements in cloud computing capabilities, advanced network security, unlimited storage, and cost saving the requirement of data analytics has further escalated.
The industry has seen a shift from on-premise applications towards hosted. This shift is being supported by key benefits such as easy data sharing and integration, reduced cost, and automatic system updates. High maintenance and upgradation cost, hardware deterioration, and probability of permanent data loss associated with on-premise applications have further restrained their adoption in the industry.
Current business partnerships to attain a leading position in the industry is a key growth strategy followed by the companies. Constant spending on technology innovation is bringing advanced analytics solutions in the industry.
The companies are also involved in mergers and acquisitions to gain technological excellence. Furthermore, they and are also investing heavily to bring innovations in the industry.
Major players operating in the U.S oil and gas analytics market include Accenture, IBM, Cognizant, and Microsoft Corporation. These industry leaders are actively seeking strategic collaborations with technology providers for product innovation to gain competitive advantage. Global Market Insights, Inc. anticipates that the U.S. oil and gas analytics market could likely grow more than 14.5% by 2025.
Author Name : Abhijeet Kakade
CHP district heating market to amass appreciable gains by 2026
The paradigm shift towards sustainability has been fueling district heating market trends. With increasing global energy demand, the need to use renewables has become more crucial than ever. Rising establishment of renewable energy systems to cater to growing consumer demand is anticipated to drive district heating market growth over 2020-2026. The requirement of sensible heat for commercial, residential and industrial applications will also positively impact the district heating industry outlook over the coming years.
As per Global Market Insights, Inc., district heating market size in 2019 was worth USD 150 Billion and is estimated to exceed production by over 14,000 PJ till 2026.
An exponential growth in urban population has been witnessed over the past few years. Most of the masses residing in rural areas and mid-size townships are opting to shift to urban dwellings. With rising urbanization, the requirement of energy for space and water heating has also observed an increase. This in turn has fueled the demand for district heating systems. In recent times, real estate barons are also seen investing heavily in new properties and renovating older ones. The expansion of the overall real estate industry will thus further boost product demand over the forecast timeline.
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Rigorous government regulations pertaining to green-house gas regulations, along with positive outlook of masses towards adoption of renewable sources to generate heat and energy is estimated to change district heating market trends over the coming years.
District heating systems are expected to be deployed on a large scale in the residential sector, owing to rising migration towards cities. In line with environmental concerns, this has led to increasing utilization of energy efficient heating systems. The smart city revolution has also led to rising installation of smart home management systems, which would help foster district heating market size from residential sector over the analysis period.
Combined heat & power-based district heating systems are highly sustainability and also ensure reduced energy losses. Enhanced energy supply efficiency offered by these systems are also escalating their deployment across the globe. Major economies including China and the U.S. have been investing heavily in combined heat and power systems on account of a supportive regulatory scenario, offering lucrative growth opportunities to district heating industry players.
The capability of these systems to limit GHG emissions, and reasonable operation costs along with minimal thermal losses offered by the technology are estimated to support district heating industry share in the years to come.
Growing awareness toward utilization of clean energy, along with adoption of optimal energy consumption is anticipated to change district heating market landscape over the coming years. Rising concerns pertaining to climate change have resulted in an increase in number of initiatives undertaken toward clean energy generation. This has also led to the rising prevalence of energy efficient buildings, which is estimated to augment product adoption.
Major industry players contributing towards district heating market include Goteborg Energi, Fortum, STEAG, Statkraft, Ramboll and Vattenfall, amongst others. These companies are adopting strategies such as mergers & acquisitions and partnerships to expand production capacity along with focusing on developing more efficient district heating systems.
Moreover, growing focus of industry players toward development of energy efficient solutions that comply with new standard emissions to gain a competitive advantage over other industry participants, will also change business outlook over the analysis period.
Author Name : Aakriti Kakkar
Increased government spending on infrastructure to fuel HVDC converters market size
Ongoing initiatives to renovate and modernize existing grid infrastructures is expected to boost HVDC converter market size. Lately, there have been numerous programs aimed at developing inter-regional & cross border electrical networks. For instance, in 2015, the European Commission (EC) announced goals to achieve at least 15% of interconnection from the generation capacity by 2030.
Implementation of energy efficiency norms backed by rapid integration of clean energy may stimulate product demand. Efforts to reduce energy loss across existing transmission and distribution lines is expected to further aid market growth in the coming years. A study conducted by Global Market Insights, Inc., suggests that global HVDC converter market size may exceed USD 13 billion by 2025.
A sizable part of this growth can be recorded from the <500 kV HVDC converter industry. According to reports, in 2018, the market was valued over USD 1 billion. Initiatives taken by numerous regions to install and integrate renewable energy plants may complement product demand. Active interconnection with energy grids would support market growth. In 2017, France and Ireland had made a similar development when its regulators spend over USD 1 billion for the development of HVDC interconnection link.
As per reports, the ability to efficiently distribute large amount of electricity may fuel the demand for of bipolar HVDC converters. Favorable regulations focused towards development of efficient power distribution infrastructure may drive product demand. Bipolar HVDC converters can efficiently distribute large amount of electrical power across supply lines. It can operate as a monopolar link in case when a fault occurs on a line. With higher operation efficiency being one of its key features, the bipolar HVDC converter market may register sizable growth in the forthcoming years.
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Increasing investment towards the extension of large scale grid infrastructures is anticipated to drive the LCC HVDC converter market. Its distinctive ability to move significant amount of electricity over long distances has encourage product adoption. Moreover, its extensive overload and black start capabilities makes LCC HVDC converters a preferred option over its counterparts.
Citing regional outlook, North America is anticipated to offer lucrative opportunities to the HVDC converter market. Growing initiatives across Canada and the U.S. to strengthen energy infrastructure may play a vital role in boosting regional market expansion. In fact, an estimate by Wisconsin Economic Development Corporation (WEDC) suggests that Canada would need USD 350 billion worth investment to upgrade its grid infrastructure up until 2037. Besides, technological innovations and improved long-distance transmission networks may further foster North America HVDC convert industry size.
As for Asia Pacific, intensifying need for electricity across countries like China is expected to bolster HVDC converter demand. To meet growing demand, governments across the region have also taken some ground-breaking decisions. For instance, in 2018, China announced plans to spend USD 6.4 billion for the development of rural power grids. The upgrade would comprise over 26 central and western regions.
Meanwhile, notable players such as ABB, Toshiba, Mitsubishi Electric, C-EPRI, Siemens, General Electric, CG Power, Bharat Heavy Electricals, and Industrial Solutions might help augment global HVDC convertor market size over the forecast period.
Author Name : Bipin Bangera
Rising renewables investment to power solar panel cleaning market trends
Growing inclination towards renewable energy as well as favorable government policies has accelerated the deployment of solar energy farms. As these farms are mostly located in remote areas, they are exposed to frequent dust and sandstorms. This has led to the deployment of solar panel cleaning systems for maintaining stable energy outputs and attaining improved reliability.
It is estimated that the solar panel cleaning industry may register greater prominence on account of enhanced emphasis toward improving power conversion efficiency in solar plants. Increasing adoption of concepts like decarbonization, decentralization, decoupling, distributed generation and digitization may fuel solar PV installation, thereby bolstering product demand across larger scale as well as commercial applications. Meanwhile, Global Market Insights, Inc. estimates that the global solar panel cleaning market may grow at a rate of over 14% by 2025.
Following its emergence in numerous industrial landscape, automation is steadily marching towards the solar energy sector. In fact, studies suggests that the autonomous solar panel cleaning market may surpass US$ 1,080 million by 2025.
The use of drones and robots would allow faster and effective solar panel cleaning operations. Such technological advancements may help optimize the performance, power output of PV panels as well as reduce labor costs. Government regulations that aim on restricting the use of labor in harsh, high-temperature conditions may generate new proceeds in autonomous solar panel cleaning market.
Increasing federal initiatives focused on reducing dependency on fossil-based power generation, primarily to reduce carbon footprints and harmful emissions, would stimulate solar panel cleaning market. Soaring investments in solar energy generation, to increase the overall share in the total power generation and facilitate decarbonization of the energy sector, will complement industry outlook. According to reports, in 2018, investment in the solar energy accounted for around 605 of all new renewable energy investments.
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Studies claim that Asia Pacific is endowed with vast untapped potential for solar energy generation. Governments in the region are funding heavily on ongoing large-scale PV projects. Ambitious renewable energy targets, favorable regulatory norms and feed-in-tariff programs may accelerate the deployment of solar panels.
Constant technological innovations in the PV technology supported by government subsidies and incentives have aided the demand for solar panel cleaning systems in the region. Moreover, rise in addition of solar capacity owing to favorable regulatory environment and continuously declining PV panel cost may stimulate APAC solar panel cleaning market share. Citing IRENA reports, in 2018, the solar installed capacity across China reach around 175 GW, showing an upsurge of around 33% compared to prior attained capacity.
On a global scale, the solar panel cleaning industry includes key players like Solbright, Ecoppia, Clean Solar Solutions amongst others. Companies in this market are focused on providing dry cleaning technologies or techniques that utilize organic cleaning concentrates.
Profits generation through service provisions along with long term partnerships with utilities may enable major strategic breakthroughs in this industry. Moreover, increased emphasis on deploying solar farms in arid areas of Asia Pacific, and the Middle East & Africa (MEA) may offer lucrative growth proceeds to companies operating in solar panel cleaning market.
Author Name : Abhijeet Kakade
North America to emerge as a major revenue pocket in subsea umbilicals, risers and flowlines market by 2025
Escalating demand for energy and augmenting deep-sea exploration activities is likely to offer momentum to SURF (subsea umbilical, riser and flowline) market growth over the coming years. Rising deep water exploration to increase oil production has significantly promoted SURF installations. Subsea umbilicals, risers and flowlines industry demand is inflating on account of desirable properties of these systems, such as robust design, higher reliability, and cost effectiveness. In 2018, subsea umbilicals, risers, and flowlines market share surpassed $5 billion.
According to the latest research report published by Global Market Insights Inc., subsea umbilicals, risers, and flowlines (SURF) industry will witness more than 7% CAGR over 2019-2025.
Subsea umbilicals, risers, and flowlines market forecast report predicts that flowlines SURF business will expand owing to massive amounts outlaid towards the exploitation of untapped hydrocarbon resources. Flowlines SURF are economic and provide high performance index with optimized subsea architecture, which are likely to enhance subsea umbilicals, risers and flowlines industry size over the coming years.
Escalating operators’ focus to cut down operational cost along with rising CAPEX towards the latest E&P activities will foster shallow subsea umbilicals, risers and flowlines industry growth. Chemical and petrochemical sectors have extended the usage of natural gas and crude oil, which will uplift shallow SURF market share growth.
Companies operating in the oil & gas sector are trying to improve production capacity by advancing technologies to develop energy efficient systems. Such efforts initiated by companies to upgrade energy efficient systems will influence deep SURF market trends. Demand for deep SURF technology is expanding due to amplifying penetration of mature oil fields across deep water locations.
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Europe has been witnessing huge investments towards the development of the regional deep and ultradeep energy resources. The region is focusing on reducing dependency on foreign oil imports and enhancing energy security. Regional governments have been making efforts to improve existing oilfields in the region, which will upsurge Europe subsea umbilicals, risers and flowlines industry share.
Rapid urbanization and industrialization have augmented the demand for petrochemical products, which will push the growth of China subsea umbilicals, risers and flowlines market size by 2025. The region has been observing promising economic growth. China has been developing many unexploited energy sources by using E&P investments, which will fuel SURF industry growth.
With intensifying focus on the advancement of new conventional energy resources and better production from mature oilfields, North America is slated to emerge as a principal SURF market. Huge investments towards increasing oil production are likely to drive North America subsea umbilicals, risers and flowlines market size growth. Also, IoT implementation in drilling operations to digitalize and expand production will further stimulate SURF industry outlook.
Riser SURF market share is likely to inflate over the coming years due to speedy installation of floating rigs along with development in deep water technologies. Some of the major industry players include National Oilwell Varco, TechnipFMC, McDermott, General Electric, Vallourec, Aker Solutions, Halliburton, Tenaris, Siemens, John Wood Group PLC, Saipem, amongst others. Market participants are striving to reinforce their foothold in global subsea umbilicals, risers and flowlines industry by introducing advanced technologies to increase production and operational efficiency.
Author Name : Anchal Solanki
Favorable government regulations to propel Asia Pacific oil storage tank service market size
Oil storage tank services are seemingly being supported by the government authorities as they have introduced multiple amendments that relate to cleaning, maintenance and inspection of the already existing storage facilities. APAC oil storage tank service industry size has been expected to surpass USD 210 million by the year 2025. There has been a rise in the investments in order to offer major protection and security against extreme conditions to prevent multiple technical losses.
The midstream and downstream sectors have increasingly accepted and adopted facilities equipped with high technologies. This is due to their properties of high efficiency and corrosion resistivity. Booming demand for crude oil of high value has coerced the authorities to ensure regular inspection of the storage depots, supporting the adoption of tank cleaning services and fueling APAC oil storage tank service market trends.
The passing of strict mandates that could help in the prevention of potential hazards will drive the growth of the regional service providers. Moreover, there has been an increase in the concerns pertaining to environment protection and energy security. The Indian government has reportedly introduced oil industry safety directorate (OISD) that has been given the duty to formulate self-regulatory measures that would help improve the terminal safety.
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Singapore oil storage tank service market share is slated to register more than 6% growth up to 2025. This has been primarily attributed to the rise in the net crude import coupled with the major refining infrastructure. The trends have impacted the demand for storage facilities as well as other related services. As per the Energy Market Authority of Singapore, the total amount of crude oil that had been imported in Singapore reportedly reached 57, 964.2 ktoe in the year 2017 from 46,324.2 ktoe back in 2011.
Moreover, the help of exclusive strategic measures to help develop the already existing reserve capacity has induced a rise in the trade flow, which in turn will fuel oil storage tank service market share in the forecast timeframe.
China oil storage tank service market forecast will observe significant growth prospects owing to the rising demand to fuel the existing refining capacity to be able to efficiently cater to the growing population. The country has a high demand for hydrocarbons that have forced periodic assessment of the oil storage facilities already existing. Additionally, the launch of number of online technologies that also includes drones, corrosion detecting equipment and guided robots will help influence the business outlook.
Author Name : Riya Yadav
U.S. boiler market from 100-250 MMBtu/hr capacity segment to register appreciable gains by 2025
Escalating demand for hot water and steam across commercial and residential establishments will drive the U.S. Boiler Market outlook. The region has been witnessing growing investments toward modernization and replacement of the aged-out boilers owing to increasing carbon footprint. The new generation boilers are designed to follow the improving emissions standards which will create novel growth opportunities for the industry players in the coming years. For instance, Environmental Protection Agency has introduced National Emission Standards to reduce hazardous air pollutants emitted from the commercial and industrial facilities.
A boiler allows the utilization of a varied number of fuels such as natural gas, peat coke, coal, oil, and wood chips, thus providing high flexibility favoring the product adoption. The closed vessel design of the product eliminates the chances of water evaporation, assisting in achieving required pressure for steam generation on a larger scale. The hot water and steam are then carried out through separate pipelines to multiple household, commercial and industrial equipment for heating or any other required purposes.
Increasing efforts for curbing carbon emission given the rising environmental hazards will drive the U.S. boiler industry trends. The regional government is focusing on development of zero emission buildings for large facilities such as offices, educational institutes, and hospitals in order to cut down energy related emissions. Such advancements in reducing emissions at the root level will necessitate implementation of sustainable technologies.
Furthermore, the U.S government has launched National Action Plan to achieve energy optimization across multiple public & private sectors. Introduction of additional energy efficiency polices & regulations in the upcoming years will accelerate demand for low emission boilers further stimulating the U.S. boiler market trends.
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Considering the capacity spectrum, U.S. Boiler Market from 100-250 MMBtu/hr capacity segment is experiencing increasing demand from the refineries on account of the ongoing extension projects. For instance, in January 2019, Exxon Mobil declared the expansion of its refineries in Beaumont, Texas, US, which involves construction and installation of new pipes, and boilers in the refining facility.
The company aims to gradually increase the crude refining capacity by more than 65 percent to achieve 250,000 barrels per day. Ever-increasing demand for refined petroleum products will provide a positive outlook for the U.S boiler market growth.
Robust product deployment across food processing, textile industry, pulp & paper, and metal smelting industries for cleaning, heating, cooling, and humidification purposes will drive the application share. U.S is one of the top three paper producing countries of the world and also is the leading exporter. The U.S. paper industry accounted for 96.1 billion U.S. dollars in 2015, claims an estimate by Statista. Since the process of paper manufacturing deploys steam heated cylinders to form flat paper sheet, the U.S. boiler market will generate significant revenues from the pulp & paper application.
The food industry requires heat at every stage of the process. It can be either direct heat or heat from the hot water or steam which is extremely essential for food processing. Considering the beverage industry, steam is used for cooking, drying, and warming, and also for generalized cleaning purposes in the processing plants. Application of steam eliminates the microbiological risk in food which should augment the U.S. boiler market share from food processing application.
Owing to widespread product applications, the U.S boiler market will witness significant gains during the forecast timeframe. Moreover, the manufacturers in the region are heavily investing on technological upgradation of the heating technologies of the product aiming to improve operational performance, further propelling the industry size over the forecast timeline. According to the latest study by Global Market Insights, Inc., U.S. Boiler Market size will exceed USD 4.5 Billion by 2025.
Author Name : Amol Kothekar
Rapid adoption of renewable technologies to accelerate biogas market trends over 2019-2025
Growing concerns over depleting fossil reserves coupled with the rising environmental impacts from burning conventional fuels will drive global biogas market growth. Increasing awareness about biogas technologies across the globe will encourage the deployment of these technologies.
Government initiatives to promote biogas across end-use industries along with enactment of stringent environmental laws curb GHG emissions will also positively influence the global biogas market trends throughout the forecast timeframe. As per the latest study by Global Market Insights, Inc., biogas market size will exceed USD 110 billion by 2025.
Increasing penetration of biofuels across the transportation sector will create favorable business scenario for the market. Growing initiatives toward the utilizing industrial and municipal waste for energy generation will complement the biogas demand. There have been rising efforts toward the deployment of sustainable energy technologies promoted by several incentives and subsidy schemes. Moreover, governments are bound to reduce the dependency on fossil fuel sources for power generation which will enhance the industry outlook.
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Biogas market from sewage sludge substrate will witness significant gains on account of increasing shift toward utilizing domestic sewage for biogas production which can be further used for electricity generation. In addition, the local bodies have been planning for large scale development of sewage treatment facilities owing to growing environmental concerns from disposing the sewage in the water bodies. Huge availability of sewage from the urbanized areas should accelerate product deployment to sustain the growing electricity demand.
Electricity applications will continue to be a consistent driving factor for the global biogas market in the upcoming years, pertaining to growing awareness toward climate change and ever-increasing electricity prices. 500 kW – 3 MW biogas plants should witness increasing deployment over the study timeframe because of the favorable conditions created by intensifying regulations to minimize energy-related carbon emissions.
Rapid urbanization from the increased migrations from rural areas will surge the residential energy needs. In addition, the ongoing smart city trends should foster the business landscape over the forecast timeline. Furthermore, burgeoning energy demand from the manufacturing units due to proliferating industrialization will enhance the industry outlook.
Global biogas market from commercial application will showcase indispensable growth on account of space heating applications. Availability of abundant feedstock and high energy density makes it a viable option deployment in the commercial sector.
Pre-hydrolysis technology in the biogas industry is projected to account for significant growth owing to rising demand for sludge stabilization. The technology features prominent benefits including minimal production of biosolids, low costs of the process and enhanced energy recovery giving it an edge over other alternatives.
Biogas market size from anaerobic digestion process hit USD 45 billion in 2018 and is further anticipated to achieve a CAGR of over 6% through 2025. The process of anaerobic digestion extracts the energy in the form of biogas and leaving behind the biofertilizer. Growing need for replacing chemical fertilizers with the organic alternatives for improved soil health should drive the segmental growth, given the dual advantage of producing energy and fertilizers.
Asia Pacific biogas market will display commendable gains owing to rising adoption of renewable energy technology and increasing electricity demand. High count of electricity deprived remote location and ongoing modernization of grid infrastructure will fuel the installation of biogas systems in the region.
Increasing awareness toward conservation of agricultural land coupled with growing initiatives for improvement of local economies will foster the development of biogas plants across the emerging economies. Furthermore, high availability of cheap feedstock coupled with increasing carbon emissions will drive the industry growth.
Author Name : Amol Kothekar