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District heating & cooling market valuation to surpass a mammoth $400 billion by 2024, rising adoption of CHP-based systems to expedite the industry growth

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The global district heating and cooling (DHC) market is poised to witness an accelerated growth in the consequent years, primarily owing to growing environmental concerns. Driven by the urgent need to curb carbon emissions, global and regional governments have enforced suitable regulatory measures that have further upheld this industry. As per estimates, the global DHC market was valued at approximately over $200 billion in 2017 and is anticipated to double its remuneration by 2024, given that emerging economies are increasingly investing in the development of various commercial and residential establishments that have a centralized heating and cooling system.

Sweden District Heating & Cooling Market Size, by Application, 2017 & 2024 (USD Million)

Sweden District Heating & Cooling Market Size, by Application, 2017 & 2024 (USD Million)

An outcome of economies of scale, the centralized system of DHC is often extremely cost-efficient when compared to the conventional de-centralized systems. However, an obstacle in the growth of this vertical would be the initial investment required for planning and establishing a distribution infrastructure for the installation of a DHC system. The system’s cost-effectiveness also depends on whether there exists a pre-established distribution infrastructure which could be employed to deliver the DHC services. In case of an existing network, centralized generation costs 40% less than a de-centralized capacity.

Unveiling global DHC market trends with respect to the different energy sources deployed

District heating & cooling market size from combined heat and power (CHP) market is slated to grow by approximately 6% over 2018-2024. According to the International District Energy Association, traditional power plants are extremely inefficient when it comes to generating power as they only extract and convert only about 35%-40% of the energy from the fuel to generate electricity and the remaining 60%-65% of energy is turned into heat which is then released into a local waterbody or into the atmosphere through a smokestack. The association deems this extreme inefficiency to be a massive problem. However, this obstacle also provides a massive opportunity for CHP plants to effectively harvest the immense heat byproduct to produce steam, to heat or to chill water and then effectively cool or heat the surrounding residential or commercial complexes through a DHC network.

According to the association, CHP plants witness fuel efficiencies of around 75%-80% on a regular basis. Additionally, they significantly boost operating efficiencies while decreasing the carbon footprints, thereby providing a massive scope for the expansion of DHC industry from the CHP energy source. The rapid shift from traditional power generation plants to CHP plants is thus slated to augment CHP-based DHC market.

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While CHP has garnered commendable traction, DHC industry players have also been tapping the solar energy source rather prominently. As more and more developed and developing economies turn to renewable sources of energy to fulfil their annual energy needs, it is anticipated that the global DHC market will also experience substantial momentum with the adoption of solar power as an energy source. According to a report by the International Energy Agency the only factor that would limit the development of SHC is the scarcity of viable rooftops and ground space that would house the solar collectors at a location that is accessible to the DHC network. However, even with this constraint, it is being speculated that most of the nations across the globe will come to adopt solar power as an energy source to fuel DHC systems across residential, commercial, and industrial establishments.

According to a 2017 report on SHC by the International Solar Energy Society, over 30 GWth of new solar thermal capacity was authorized in 2017 alone, boosting the global capacity to over 470 GWth. Global Market Insights, Inc., claims that the overall DHC market share from solar power was pegged at $4 billion in 2017, primarily driven by the low operating costs, environmental viability, and ease of installation. Solar power is likely to be majorly adopted across developed as well as developing nations, especially across Europe. Indeed, the European Commission has targeted a deployment of SDH systems across Denmark, Italy, Czech Republic, and Germany, with plans to extend a capacity of 8 GWth by 2020.

Although the global DHC market entertains the deployment of fossil fuels like gas and coal to power the centralized DHC hub, there is a significant untapped potential to upgrade the systems to enable them to employ renewable energy sources like solar, solid bio-fuels, different geothermal technologies, low ambient temperatures and waterbodies. The availability of these cost-competitive clean energy sources makes DHC becomes an extremely worthwhile, cost-effective, and viable service, the rising adoption of which would impel DHC market trends. According to Global Market Insights, Inc., the overall DHC market is expected to exceed an annual energy consumption of 19,000 PJ by 2024.

Author NameAkshay Kedari

North America Metamaterial Technologies Market to make a successful headway over 2017-2024, beneficial grants provided by regional governments to enhance the industry growth

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The rapid expansion of Metamaterial Technologies Market can be credited to a flood of parameters, the principal one being the generous funding granted by private investors and regulatory authorities. The latest news about Pivotal Commware raising USD 17 million from prominent investors is an instance of the aforementioned fact. Elaborating further, Pivotal Commware, a very recent entrant in global metamaterial technologies industry, is reportedly the brainchild of Intellectual Ventures, the renowned private company that caters to the patent licensing of intellectual property. While the number of investors who backed this metamaterial technologies market novice is unknown, what is important is that the investor list includes the Microsoft pioneer, Bill Gates.

U.S. Metamaterial Technologies Market size, by Application, 2013 – 2024 (USD Million)
U.S. Metamaterial Technologies Market size, by Application, 2013 – 2024 (USD Million)

The conceptualization and the subsequent expansion of metamaterial technologies industry lies in a number of vital factors, one of the major ones being, the increasing penetration of wireless communication systems. Owing to the excellent electromagnetic and acoustic properties of metamaterials, they are being used excessively in wireless communication. As per estimates, the penetration of mobile wireless communication is anticipated to exceed 99% by 2024, which will be a major driving force behind the growth of metamaterial technologies market.

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One of the key regions that has been forecast to be a lucrative ground for the development of metamaterial technologies industry is North America. The region encompasses numerous venture capital firms that readily provide adequate funding to the start-ups that focus on exploiting the projected opportunities in metamaterial technologies market. Augmented by heavy product demand across the industrial & defense applications, the region accounted for more than 50% of the overall metamaterial technologies industry share in 2016, with a valuation of USD 300 million. The regional governments of U.S. and Canada also provide adequate funding to startups and other entrants in this business space, pertaining to which North America metamaterial technologies market will grow at a profitable rate over 2017-2024.

Kymeta Corporation, one of major biggies accumulating a key share of metamaterial technologies industry, recently signed an agreement with Intelsat with a view to offer a superior, path-breaking satellite service. In addition, the company signed a deal with SKY Perfect JSAT to develop novel satellite connectivity options across APAC. These strategic ventures clearly depict the massive reach of global metamaterial technologies market currently. Since metamaterials are extensively used for radio frequency identification (RFID) system and antenna applications, business players have been striving to develop enhanced technologies to exploit the product usage in such applications. For the record, Kymeta is renowned for manufacturing software-based, metamaterials-deployed electronic antennas for satellite communications for connected transportation. Other key rivals of Kymeta include Echodyne, Luminus Devices Inc., Metamagnetics Inc., Evolv Technologies, Nanosteel Company, Alight Technologies, Fractal Antenna Systems, Metamaterial Technologies, and Medical Wireless Sensing Ltd.

Metamaterial technologies industry size, slated to cross USD 2.5 billion by 2024, with a CAGR projection of 20% over 2017-2024, primarily encompasses radio & microwave, acoustic, photonic, and terahertz devices. Of these, it has been estimated that metamaterial technologies market from radio & microwave products, having held a valuation of USD 250 million in 2016 will carve out a steep growth graph with a CAGR of 22% over the coming years. This growth can be attributed to the extensive usage of metamaterials in navigation, spectroscopy, and radar & communication applications.

The superior properties of metamaterials make them ideal candidates to be used in acoustic devices, imaging, solar applications, and radar & communication. In fact, recent studies depict that metamaterials are being extensively used in solar applications, owing to the massive global demand for clean energy. The governments of various countries have also been striving to promote solar energy on a huge scale, which will provide further impetus to the growth of this segment. Metamaterial technologies industry from solar applications was valued at USD 30 million in 2016 and is projected to generate substantial valuation by 2024. This is essentially due to the widespread advantages that metamaterials provide, over other solar panel coating materials.

Speaking along similar lines, metamaterial technologies market from communication & radar applications registered a revenue of over USD 350 million in 2016, pertaining to the massive penetration of wireless communication. In addition, radar & communication applications are deployed in the defense & civil sectors, for GPS, satellite & commercial applications, and for space communication as well. In fact, Kymeta’s recent agreements are based on the prerequisite of improving satellite communication by replacing traditional antennas with metamaterial antennas. On these grounds, it is forecast that metamaterial technologies industry from communication & radar applications will register heavy gains over 2017-2024.

Metamaterial technologies market has been forecast to have a plethora of opportunities for growth, considering that metamaterials possess superior electrical conductivity, light weight, excellent mechanical strength, and elasticity. One of the many prospects for metamaterial technologies lies in the medical sector, especially when used in the manufacturing of graphene-based products for the detection and treatment of neurological diseases. In addition to functional neurosurgery, it is expected that metamaterials can be used for cancer treatment, ICU monitoring, and spinal surgery. With the rapid expansion of the application sphere of metamaterial technologies market, it is undisputable that this business space, though in its nascent stage for now, will achieve brilliant heights over the years to come.

Author Name : Saipriya Iyer

Vacuum coating equipment industry to accrue massive revenue via automotive applications over 2016-2024, APAC to be the major regional revenue driver

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Vacuum Coating Equipment Market is expected to be favorably influenced by the rapid growth of the consumer electronics, power generation, automotive, and aviation sectors. The ability of vacuum coating equipment to provide an aesthetic appearance, durability, and scratch-resistance will stimulate its demand from the consumer electronics sector, which is predicted to register significant gains of 4% during the period from 2016 to 2024. The rapid growth of this market will impel vacuum coating equipment industry over the years to come.

This product is also used for PV cells coatings as it helps absorb sun rays effectively, thereby stimulating vacuum coating equipment market share from solar energy sector. According to Global Market Insights, Inc., “Vacuum Coating Equipment Industry revenue, which was estimated at USD 23 billion in 2015, is predicted to hit USD 47 billion by 2024.”  With immense demand for vacuum coating technology such as PVD coatings across various sectors like microelectronics, cutting tools, solar, storage, medical equipment, etc., the industry is bound to witness a high surge over the years ahead. PVD coating is fast replacing traditional coating methods such as chromium plating, electroplating, and painting. The ban on chromium by many countries due to its carcinogenic nature along with surface imperfection & non-uniformity observed in painted and electroplated products has increased the consumer preference for PVD coatings.

Europe Vacuum Coating Equipment Market, by product, 2013-2024 (USD Million)
Europe Vacuum Coating Equipment Market, by product, 2013-2024 (USD Million)

Taking into consideration the regional trends, North America vacuum coating equipment industry is forecast to experience a prominent expansion over the next few years. The growth can be attributed to high usage of the equipment across the solar energy sector. U.S. vacuum coating equipment market is foreseen to contribute to a major portion of the regional revenue.

APAC vacuum coating equipment market, which contributed over 50% of the revenue in 2015, is predicted to boost the overall industry growth in the future subject to rising energy requirement and the huge presence of key smartphone manufacturers in the region. LATAM vacuum coating equipment industry size is forecast to observe a massive surge over the coming seven years, driven by escalating equipment demand for metallizing chip carriers and microelectronic circuits.

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Germany is expected to make notable contributions toward Europe vacuum coating equipment industry share subject to the thriving automobile sector. Germany vacuum coating equipment market size was over USD 910 million in 2015, and is forecast to grow remarkably over the years to come.

CVD, PVD, and magnetron sputtering are the major products of vacuum coating equipment. PVD vacuum coating equipment market is expected to record a CAGR of 9% over the period of 2016-2024, driven by lower initial equipment costs along with the product properties such as an elongated shelf life, bright color, and aesthetic appeal. The ability of the product to handle complexities pertaining to varied shapes and will further boost its demand. PVD coatings are also used for engine parts such as gears, piston rings, train valves, and piston pins, which helps in reducing engine wear & tear and enhances its performance.

CVD vacuum coating equipment industry is expected to experience a huge surge over the span of few years, driven by thriving automotive sector creating a heavy need for effective metal coating. Ability of the equipment to provide a uniform coating layer is expected to enhance its popularity. Magnetron sputtering vacuum coating equipment market is projected to grow at a rate of 9% during the period from 2016 to 2024.

Buhler Group, Singulus Technologies AG, The BCI Blösch Group, OC Oerlikon, Scientific Vacuum Systems Limited, CVD Equipment Corporation, Kolzer SRL, Applied Materials Incorporation, IHI Corporation, ULVAC Technologies Incorporation, Semicore Equipment Incorporation, PVD Products Incorporation, AJA International, T-M Vacuum Products Incorporation, and The Miba Coating Group are the key players of vacuum coating equipment industry.

Author Name :Dhananjay Punekar