Transport
Private LTE market to procure extensive proceeds from the energy sector, surging product adoption by telecom service providers to stimulate the industry growth
The increasing importance imparted to network stability & wireless communication to speed up network capability has been stimulating private LTE market share. Nowadays, private LTE is used extensively for numerous beneficial purposes such as real-time monitoring, geo positioning activities, in the mobile devices, energy utilities, telecommunication applications, and automotive equipment. The rapid acceptance of long-term evolution (LTE) for high-speed wireless communication across numerous industrial sectors has been encouraging companies in private LTE market to adopt LTE network connectivity.
Europe Private LTE Market Revenue, By Infrastructure, 2017 & 2024 (USD Million)
Over the last few years, most of the mobile network providers have shifted to LTE services from 2G and 3G coverage to improve existing communications. The surging digitalization and modernized mobile services have also substantially enhanced data services. Recently in India, the nation’s largest telecom company, Airtel has decided to switch to LTE network services to boost data speed. This move will turn out to be rather beneficial for Airtel as it already has a widespread, far-reaching network coverage. The shifting focus of telecom service providers to LTE to phase out older networks is slated to fuel private LTE industry share.
Taking into account the network benefits of high-speed data services, most of the energy companies have been signing deals with wireless network providers that will have a positive influence on the product demand. For instance, a month before, the Brazilian power distributor, Elektro collaborated with Nokia for deploying a private LTE network in its City of Atibaia based electric grid. The deployment of LTE services is slated to help improve the efficiency and reliability of the electric grid that has been serving approximately more than 75,000 business and homes. Through this network, it is also possible to operate smart meters, grid equipment, substation and distributed energy generation sources.
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Such strategic deals will help players in the private LTE market strengthen their customer base and diversify the traditional telecommunication practices. The surging adoption of digital technologies such as IoT and machine learning will thus further propel the use of private LTE service in the energy sector. For the record, as per estimates of Global Market Insights, Inc., private LTE market from energy applications is slated to depict a commendable CAGR over 2018-2024.
In order to achieve a dominant stance in the market, telecom firm Nokia has also lately been adopting myriad business tactics. Recently, it has collaborated with China Unicom to deploy a private LTE network at BMW Brilliance Automotive Ltd plant based in the Liaoning province. With the use of private LTE connectivity, BMW can carry out smart manufacturing activities and ensure communication for critical applications including video surveillance, object tracking, and analytics at the plant.
The integration of private LTE network in the enterprises to secure data and voice communication, wireless video communication, ensure indoor investigation, and inspect the production line maintenance is slated to fuel the product demand over the years ahead. Heavy investments to develop digitalized, modern factories with a secured and transparent work culture will further propel private LTE market share considerably.
The emergence of LTE connectivity has also turned out to be rather useful for maintaining peace across the globe. That is to say, the UN (United Nations) has been working continuously to resolve the several global issues for which it has been using LTE network for providing critical communication capabilities. Peacekeeping troops are able to effectively use this LTE network for secure, stable, and future-proof broadband services while operating through the tough geographic terrain. Currently, UN is working on fourteen peacekeeping operations across the globe and it is planning to establish high-speed LTE networks by 2019 to accelerate the communication throughout the missions.
Substantive use of LTE connectivity for ensuring digital and standardized work output in the industrial as well as the defense sectors is likely to propel the product demand over the years ahead. On-going changes in the telecommunication technologies to enhance the network connectivity will further stimulate the industry trends. As per estimates, with the surging acceptance for network connectivity across various application sectors, private LTE market is poised to surpass a revenue collection of USD 11 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Fuel cell electric vehicle market to garner hefty proceeds from long distance traveling automobiles over 2019-2025, rising investments and product launches to underline the industry expansion
Fuel cell electric vehicle market share is anticipated to display a marked ascent in the forthcoming years, owing to the fact that governments across a host of nations are undertaking various initiatives to bolster the utilization of zero-emission automobiles in a bid to lower greenhouse gas emissions and contain the ever-rising pollution levels. Moreover, it would be prudent to mention that the painstaking efforts being put in by automobile manufacturers in enhancing the existing fuel cell technology and revamping the current infrastructure of fuel cell EV platforms, has invariably created an unprecedented exuberance pertaining to the growth prospects of the global fuel cell electric vehicle industry.
U.S. Fuel Cell Electric Vehicle Market, By Vehicle, 2018 & 2025, (USD Million)
Citing an instance to highlight the same, one of the foremost fuel cell electric vehicle market players, Ford Motor Company has recently announced that it would amplify its current investment in electric vehicle manufacturing by over two times, taking the figure to a staggering USD 11 billion. Moreover, a range of other dominant fuel cell electric vehicle industry giants including Toyota, General Motors, and Volkswagen have already carved out aggressive plans to manufacture more such vehicles in the next few years. Apparently, the aforementioned declarations undoubtedly showcase a favorable progression path of the worldwide fuel cell electric vehicle market.
In the recent times, it has been observed that the leading fuel cell electric vehicle industry players are being benefitted immensely from the noteworthy increase in consumer preference for fuel cell-powered vehicles over battery-powered ones. Apparently, the major advantage of fuel cell-powered vehicles is that they can be charged in lesser time duration than the vehicles running on batteries. Furthermore, fuel cell electric vehicles are known to cover longer distance after a single charge, possess greater off-road mobility, better torque, and enhanced field configuration than the battery-powered vehicles. This goes on to explain the increased focus of a number of fuel cell electric vehicle industry giants on manufacturing fuel cell-powered long-distance trucks and SUVs. As a consequence, long distance traveling automobiles are set to apportion a major revenue share of the overall fuel cell electric vehicle industry by 2025.
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Speaking along similar lines, Toyota Motor North America, Inc, has recently released its concept truck heavy-duty truck equipped with advanced hydrogen fuel cell system that is expected to broaden the application of zero-emission fuel cell technology. Moreover, the fully functional truck, named as Project Portal, has an exceptional torque capability to seamlessly carry out port drayage operations and transport goods over short and long distances. Needless to mention, the launch of such innovative vehicles would provide a vigorous boost to the global fuel cell electric vehicle market size expansion over the estimated time frame.
Meanwhile, it would be prudent to take note of the major factors that are likely to hamper the fuel cell electric vehicle market size progression over the next few years. Establishing a robust network of fueling stations has always been a matter of contention across the globe as it requires a substantial amount of investments. Taking this shortcoming into consideration, the renowned fuel cell electric vehicle market player General Motors Company has recently unveiled a new fuel cell platform, christened as Silent Utility Rover Universal Superstructure (SURUS), which has reportedly been designed for variegated vehicle models. The latest platform is being described as a significant development considering the use of microgrids in military applications. Furthermore, the platform has been developed in such a manner that it would double up as a stationary power source to charge the electric vehicle. The US Army is expected to be the first to utilize SURUS on a wide scale, given that it is already experimenting with semi-autonomous convoys to strengthen its existing fleet of fuel cell electric vehicles that cover long distances.
As regional and international regulatory agencies are determined to reduce carbon emissions coupled with the extensive efforts being deployed by leading fuel cell electric vehicle participants, the popularity of fuel cell-powered vehicles is anticipated to soar over the next seven years. In addition to this, the robust growth being witnessed across global renewable energy sector would favorably influence the fuel cell electric vehicle market size that is estimated to surpass USD 11,600 million by 2025.
Author Name : Saif Ali Bepari
China civil engineering market to register substantially high gains over 2016-2025, surging demand from industrial infrastructure applications to spur the regional growth
Increasing investments in infrastructural developments across the globe will boost civil engineering market significantly. With digitization conquering the global industrial landscape, the development of smart cities is on an incline, which will also provide a positive impetus to civil engineering market. The infrastructure of a country is largely responsible for its overall progress, subject to which the governments of various countries have been investing heavily in the construction sector and infrastructural development. The rapid industrialization, urbanization, rise in population, and the government norms regarding sustainable construction will be key factors propelling civil engineering market. According to Global Market Insights, “Civil Engineering market was worth USD 7990 billion in 2015 and is slated grow at an annual growth rate of more than 3.5% over the coming years of 2016 to 2025.
Europe Civil Engineering Market size, by application, 2013-2025 (USD Billion)
Prominent customer groups of civil engineering market include private businesses and government purchase. Civil engineering market from private business customer group is predicted to register an annual growth rate of 4.1% over the coming years of 2016 to 2025. Escalating investments in the housing sector to provide shelter to the ever-growing population base will favor the business growth. Supportive government policies regarding infrastructure development will also augment civil engineering market expansion.
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Taking into account the application landscape, civil engineering market is mainly divided into industrial infrastructure, energy, transport, and residential buildings. Industrial infrastructure application segment will exhibit considerable growth rate over the coming timeframe. Surging investment by the government for the development of roads, bridges, and dams will influence the product demand noticeably. In addition, rising infrastructure development across various sectors such as automotive, nuclear, leisure & hospitality, and food & beverages will propel civil engineering industry share.
Transportation application landscape will grow at an annual growth rate of more than 2% over the coming eight years. Significant investment by the government in road transport facilities will generate flourishing growth prospects for the product. The residential sector is also another lucrative application segment that is expected to register fairly substantial gains over 2016-2025.
Government purchase customer group segment collected a revenue of more than USD 4080 billion in 2015 and will register significant CAGR over the coming timeframe, owing to the increasing number of civil facilities and the pressure to develop high quality infrastructure.
Considering the geographical trends, U.S. civil engineering market will collect a revenue of USD 1830 billion by 2025. The escalating investments in industrial infrastructure, commercial, and residential sectors across this region will augment the industry growth. Furthermore, the government has been implementing numerous legislations pertaining to energy conservation, which will also influence the industry share noticeably.
Russia civil engineering industry will register CAGR of more than 2.5% over the coming eight years. The presence of a huge industrial base of mining, metallurgical, and oil & gas sector will fuel the requirement of civil engineering on large scale.
China civil engineering market size, worth more than US 3400 billion revenue in 2015, will exhibit a noticeable growth rate over the years ahead. Strong initiation taken by the government to develop infrastructure in the various sectors such as road & transport, power plants, and commercial buildings will augment the industry outlook.
The noteworthy participants in this market are US Army Corps of Engineers, Foster Wheeler, Galfar Engineering & Contracting SAOG, HDR, Inc., URS Corporation, CH2M Hill, Jacobs Engineering Group, AECOM Technology, SNC-Lavalin, Fluor Corporation, and Kentz.
Author Name :Sunil Hebbalkar
Rise in construction activities along with growing concerns about worker safety to boost AWP truck market growth
Growing focus on infrastructure growth coupled with an increase in real-estate investments are predicted to boost the demand for aerial work platform trucks. Furthermore, the rising need for material handing in factories as well as in production activities is expected to boost the industry trends over the coming years. According to Global Market Insights Inc., “Aerial Work Platform (AWP) Truck Market share worth USD 2.4 billion in 2015, is estimated to reach USD 11 billion mark by 2024, growing at a CAGR of 18.5% over the period of 2016-2024.” Modernization in electrically propelled elevating platforms to fulfill emission norms and address the ecological concerns is expected to benefit the market in future. AWP trucks are predicted to find their use in various industries owing to its safety features, maneuverability, and ease of handling features.
China Aerial Work Platform Truck Market size, by product, 2013-2024 (USD Million)
The rising installations of power cables and transformer & street light maintenance is predicted to boost the market trends over the coming years. Large scale use of AWP trucks in mining & construction activities due to the high risks involved in the work is predicted to benefit the market. The rapid growth of telecommunications industry due to the growing number of smartphone users will fuel AWP truck demand. These vehicles find their use in event management activities such as organization of corporate events, conventions, conferences, festivals, formal parties, and concerts. They are also used in disaster management operations as well as defense activities.
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AWP truck applications in the construction industry is predicted to be worth USD 4 billion by 2024 owing to big construction projects along with heavy infrastructural growth. Logistics & Transportation industry is also predicted to witness high market penetration over the coming years, with vehicle applications worth USD 550 million in 2015.
Asia Pacific AWP truck market is forecast to record a CAGR of 18.7% over the period of 2016-2024 due to the growing number of mobile phone users coupled with the requirement of good telecommunication infrastructure.
North America AWP truck market size is anticipated to witness a substantial growth over the forecast timeline. U.S. market is predicted to contribute noticeably towards the regional growth due to high capital investments along with an increase in the renovation work activities in the country.
Driven by various applications in the construction, telecommunications, and transport & logistics industry, AWP truck is deployed in the form of vertical mast lifts, boom lifts, personal portable lifts, and scissor lifts.
Scissor lifts AWP truck market is predicted to grow at a CAGR of 18.3% over the period of 2016-2024 owing to its increasing demand in various applications requiring direct overhead access. Boom lifts AWP truck market contributed over 35% of the global industry share in 2015 and is expected to dominate the industry over the forecast period. Rising use of the vehicles to enable entry in blocked areas is projected to boost the industry demand.
Key industry players include Terex Corporation, Haulotte, Ruthmann, Aichi Corporation, Tadano Limited, CTE, Shen Yang North Traffic Heavy Industry, Hunan Runshare, Time Benelux, and Teupen.
Author Name : Dhananjay Punekar
Growing concerns regarding energy conservation to enhance global fuel cell market outlook over 2017-2024
The global fuel cell market is expected to witness a significant growth trajectory attributed to the burgeoning need for space heating across commercial and residential sectors coupled with persistent efforts towards hydrogen fueling station development.
Many private and public establishments are stepping up their investment activities towards energy conservation. This proliferating financial support in tandem with advantageous government initiatives facilitating the advancements of sustainable energy technologies will be a tremendous driving factor in fuel cell market growth over the forecast period.
For example, in 2019, the Chinese government has proposed the construction of 20 hydrogen fueling stations and upwards of 3000 vehicles in the Hubei Province, expected to become functional by 2020.
A research report by Global Market Insights, Inc. estimates that the fuel cell market share is expected to exceed $7 billion over 2025.
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The recent paradigm shift towards increasing financial interest in R&D and innovations coupled with the high efficacy and dependability of fuel cells as a substitute for traditional automobiles are likely to bolster fuel cell industry demand from the transport sector. As a matter of fact, in 2018, the Department of Energy or DOE announced their intention to spend $39 million for fuel cell and hydrogen fueling infrastructure development in North America.
Escalating demand for fuel cells across myriad automotive applications like trams, light vehicles, goods carrier vehicles, forklift trucks, two & three wheelers as well as small boats and ferries will contribute heavily to industry expansion. As per DOE reports in February 2019, fuel cell vehicles on road in the United States grew from 4000 in 2015 to an appreciable 6500.
Accelerating demand for fuel cell EVs and the subsequent rise in the installation of portable charging systems considering the proliferating number of recreational activities are set to add significant impetus to the fuel cell market outlook.
On the other hand, the need for stationary power stations, particularly in remote and off-grid locations is reinforced by several government-supported expenditures pertaining to infrastructure developments.
With respect to the product spectrum, the SOFC product segment is expected to exceed 30,000 units over 2025. Mounting fuel cell adoption across numerous small and large-scale stationary power generators, used to provide electricity access to remote locations is likely to present several lucrative growth opportunities to the market.
SOFC cells display commendable potential in high temperature applications, in the range of 800 degree Celsius to 1,000 degree Celsius and demonstrate efficiency levels of over 60% during their transition from fuel to energy.
Cost-effectiveness, high efficiency, reduced emissions, fuel flexibility and high stability are the key drivers propelling fuel cell market penetration over the projected timeframe.
Intensifying concerns regarding the security of energy and higher adoption of renewable energy sources is expected to foster South Korea fuel cell industry trends. Strong government support for R&D efforts towards development of innovative products alongside the steady expansion of hydrogen infrastructure will also enhance the business landscape in the region.
In fact, in 2018, the South Korean government revealed their plan of investing $2.33 billion towards the development of efficient hydrogen infrastructure nationwide, over the next five years.
Author Name :Saloni Walimbe
Global Market Insights Inc. 