#Europe Residential Gas Generator Market

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Induction Motor Market - Forecast(2022 - 2027)

Induction Motor Market Size is forecast to reach $54.2 billion by 2026, at a CAGR of 6.5% during 2021-2026. An induction motor is an AC electric motor in which torque is produced by the reaction between a varying magnetic field generated in the stator and the current induced in the coils of the rotor. It is used in a majority of machinery, as it is more powerful and eco-friendly compared to the conventional motors in the market. North America has significant share in global induction motor market due to a developed usage of an induction motor in the significant industrial manufacturing, aerospace & defense, and automotive companies. In addition to the growing preference for electric vehicles in the U.S. is also stimulating the growth in North America.

Report Coverage

The report: “Induction Motor Market Report– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Induction Motor market

By Rotor Type: Inner Rotor, Outer Rotor

By Type: Single Phase, Three Phase

By Efficiency Class: IE1, IE2, IE3, IE4

By Voltage: Upto 1KV, 1-6.6 KV, Above 6.6KV

By Vertical: Industrial, Commercial, Residential, Agriculture, Automotive and Others

By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa)

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Key Takeaways

The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the Induction Motor market in APAC.

The inner rotor segment is growing at a significant CAGR rate of 7.1% in the forecast period. In inner rotor type motors, rotors are positioned at the centre and surrounded by stator winding. 

Automotive sector is expected to witness a highest CAGR of 8.9% the forecast period, owing to various factors such as increase in sales of electric vehicles due to rising concerns over greenhouse gases emissions, and favourable government policies in countries such as India, China and so on. 

Induction Motor companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers. 

Induction Motor Market Segment Analysis - By Rotor Type

Three Phase segment is growing at a significant CAGR of 11.1%

 in the forecast period. A three phase induction motor is a type of AC induction motors which operates on three phase supply. These three phase induction motors are widely used AC motor to produce mechanical power in industrial applications. Almost 70% of the machinery in industrial applications uses three-phase induction motors, as they are cost-effective, robust, maintenance-free, and can operate in any environmental condition. Moreover, induction motors are the most used in industry since they are rugged, inexpensive, and are maintenance free. In addition they are widely used in the mining metals and cement, automotive, oil and gas, healthcare, manufacturing industries and so on. Increase awareness of environmental protection across industries also contributes to the growth of three phase induction motors, as they have a low emission rate. Moreover, the shift towards industrial automation, coupled with the rising consumer confidence & promising investment plans triggers demand for the three phase induction motor in industrial application. Furthermore, the advent of Industry 4.0 and technological advancements enables a wide adoption base for the three phase induction motors. In 2019, Oriental Motor USA introduced their latest high efficiency three-phase AC induction motors equipped with a terminal box and a high strength right-angle hypoid gearhead, these new three-phase motors have the capacity of two new wattages of 30W and 40W and expands the KIIS Series Standard AC motors product line-up. 

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Induction Motor Market Segment Analysis - By Vertical 

Automotive sector is expected to witness a highest CAGR of 8.9% in the forecast period, owing to various factors such as increase in sales of electric vehicles due to rising concerns over greenhouse gases emissions, and favorable government policies in countries such as India, China and so on. In addition, the shift towards industrial automation, coupled with the rising consumer confidence & promising investment plans triggers demand for the induction motor in industrial application. Furthermore, the advent of Industry 4.0 enables a wide adoption base for the induction motors. Moreover, growing number of product launches by major manufacturers will drive the market growth in the forecast period. In September 2019, Motor and drive manufacturer WEG released the M Mining series of slip-ring induction motors which are designed especially for use in the dusty environments of iron ore operations and the cement sector. In July 2019, Ward Leonard launched 2000 HP induction motor WL29BC200 which is designed tote into a package of 15000 HP for the oil and gas industry. In September 2019, Tata Motors launched Tigor EV for private buyers as well as cab aggregators and EESL staff. he Tata Tigor electric uses a 72 V, 3-Phase Induction motor

Induction Motor Market Segment Analysis - By Geography 

Induction Motor market in Asia-Pacific region held significant market share of 38.5% in 2020. Increasing compliance for energy efficient motors and rising adoption of motor-driven electric vehicles are the key factors driving market growth.  The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the Induction Motor market. In addition advancements in the agriculture sector and enormous investments in industrialization in countries such as China, India, South Korea, and Australia is driving the market growth. Further, the increasing production and sales of electric vehicles in countries including China and Japan is also analyzed to drive the market growth. 

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Induction Motor Market Drivers 

Robust Structure of Motor

The rough physical structure of the motor is predicted to be a major driving factor for the growth of the induction motor market. Induction motor are robust in nature and can be operated in any climatic conditions. Moreover, the absence of slip rings and brushes in the motor induction eliminates the chances of sparks, which makes the operation safe even in the most explosive working conditions. In addition, induction motor is cost effective, highly reliable and the maintenance is very less, which is expected to propel the growth of the induction motor market in the forecast period 2021-2026.

Rise in Production of Electric Vehicles

The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favourable government policies and support in terms of subsidies and grants, tax rebates. As induction motors especially three phase are widely used in electric vehicles because of high efficiency, good speed regulation and absence of commutators is analysed to drive the market growth. In addition these motor also serves as an alternative of a permanent magnet in the electric vehicles. Hence rise in production of electric vehicles is analysed to drive the market. In 2019, Ford has invested $1.45 billion in Detroit plants in U.S., to make electric, autonomous and sports utility vehicles, which is mainly aimed to increase the production of the vehicles thereby impacting on the high procurement of the induction motors.  In 2019, Toyota announced plans to invest $749M in expanding the U.S. manufacturing facilities to increase the production of the electric and hybrid vehicles. In 2020, General Motors had committed boost its electric vehicle production by investing more than $7 billion. Moreover governments of several countries have been investing heavily for the development of electric vehicles. In 2019 German government has committed to invest more than $3 billion to expand electric car market growth in the region. Hence these investments and developments are analysed to be the key drivers for the growth of the electric vehicle market and thereby the growth of induction motor market during the forecast period 2021-2026.

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Induction Motor Market Challenges

Easy availability of low-quality Induction Motors

The market for Induction Motors is highly fragmented, with a significant number of domestic and international manufacturers. Product quality is a primary parameter for differentiation in this market. The organized sector in the market mainly targets industrial buyers and maintains excellent product quality, while the unorganized sector offers low-cost alternatives to tap local markets. Local manufacturers of Induction Motors in most countries target the unorganized sector and compete strongly with the global suppliers in the respective markets. Leading market players are currently exposed to intense competition from such unorganized players supplying inexpensive and low-quality Induction Motors. This acts as a key challenge for the growth of the market.

Induction Motor Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Induction Motor market. Induction Motor top 10 companies include ABB Ltd. AMETEK, Inc., Johnson Electric Holdings Limited, Siemens AG, Rockwell Automation, Toshiba Corp., Hitachi Ltd., Nidec Corporation, ARC Systems Inc., among others.

Acquisitions/Product Launches

In 2021 BorgWarner launched HVH 320 Induction Motors in four variants. They are offered to light-duty passenger cars and heavy-duty commercial vehicles.

In 2020, ABB has launched new range of low voltage IEC induction motors, which are compactly designed and reduces the overall size of the equipment by minimizing space and total cost of ownership.

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Hydraulic Generator Market Size | Industry Research by 2024-2032 | Reports and Insights

The Reports and Insights, a leading market research company, has recently releases report titled “Hydraulic Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Hydraulic Generator Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Hydraulic Generator?

The hydraulic generator market is expected to grow at a CAGR of 8.3% during the forecast period of 2024 to 2032.

What are Hydraulic Generator Market?

A hydraulic generator is a device that transforms hydraulic energy into electrical power by utilizing the flow of pressurized fluid to drive a generator. Commonly used in industries like construction, marine, and other sectors where hydraulic systems are present, these generators efficiently convert the kinetic energy of moving fluid into electricity. Known for their durability, compactness, and ability to generate power in remote or mobile settings, hydraulic generators offer a practical and reliable solution for applications that require on-demand electrical power without a conventional power grid.

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What are the growth prospects and trends in the Hydraulic Generator Market industry?

The hydraulic generator market growth is driven by various factors and trends. The hydraulic generator market is experiencing consistent growth, driven by the rising demand for dependable and efficient power generation solutions across industries such as construction, mining, marine, and heavy industrial operations. Hydraulic generators are highly regarded for their capability to generate electricity in remote or off-grid environments by leveraging existing hydraulic circuits, making them essential for mobile equipment and heavy-duty machinery. Market expansion is further supported by increasing infrastructure development, innovations in hydraulic systems, and a shift towards sustainable energy practices. Major regions driving this growth include North America, Europe, and Asia-Pacific. Hence, all these factors contribute to hydraulic generator market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Power Rating:

Low Power Hydraulic Generators

Medium Power Hydraulic Generators

High Power Hydraulic Generators

By Application:

Construction

Mining

Oil & Gas

Telecommunications

Marine

Others

By End-Use:

Residential

Commercial

Industrial

Market Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

United Kingdom

France

Italy

Spain

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Rest of MEA

Who are the key players operating in the industry?

The report covers the major market players including:

Atlas Copco

Generac Power Systems, Inc.

Enerpac Tool Group

Wacker Neuson SE

HIMOINSA S.L.

KOHLER Co.

Caterpillar Inc.

Cummins Inc.

Stanley Infrastructure, Ltd.

Mitsubishi Heavy Industries, Ltd.

Briggs & Stratton Corporation

Doosan Corporation

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If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

Reports and Insights consistently mееt international benchmarks in the market research industry and maintain a kееn focus on providing only the highest quality of reports and analysis outlooks across markets, industries, domains, sectors, and verticals. We have bееn catering to varying market nееds and do not compromise on quality and research efforts in our objective to deliver only the very best to our clients globally.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

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Next Generation Energy Storage Market — Forecast(2024–2030)

Next Generation Energy Storage Market Overview

Next Generation Energy Storage is witnessing significant advancements driven by innovations in battery technologies, grid-scale solutions, and sustainable power systems. One prominent trend is the development of high-capacity, long-life batteries capable of storing renewable energy efficiently. These batteries are crucial for balancing the intermittency of renewable sources like solar and wind power, thereby enhancing grid stability and reliability. Moreover, there is a growing focus on enhancing the sustainability and environmental footprint of energy storage solutions, with an emphasis on recycling and eco-friendly materials. Additionally, advancements in grid-scale energy storage technologies are enabling utilities to manage peak demand more effectively and optimize energy distribution networks. Another notable trend is the integration of energy storage systems with electric vehicle charging infrastructure, facilitating the widespread adoption of electric vehicles and promoting energy grid integration. Overall, the evolution of Next Generation Energy Storage is reshaping the energy landscape, offering sustainable solutions to address the challenges of modern power systems.

Next Generation Energy Storage Market Report Coverage

The report: “Next Generation Energy Storage Market — Forecast (2024–2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Next Generation Energy Storage industry.

By Device: Ultracapacitors, Energy Grids, Batteries, Fuel Cells, Flywheels, Pumped Storage and Others.

By Application: Electronics, Oil and Gas, Transportation, Military, Marine, Mining, Manufacturing, Residential and Others.

By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC (China, Japan India, South Korea, Australia & New Zealand, Indonesia, Malaysia, Taiwan and Others), South America (Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).

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Key Takeaways

The Next generation energy storage systems refers to the integration of renewable energy generation into the grid, for relatively large loads across periods extending up to the extended hours. The deployment of the innovative devices, such as Energy grids, Ultracapacitors, Batteries, along with the automation tools, such as smart inverters, physical sensors and advanced analytics are coordinating across a wider range of next-generation technologies.

The rising grid expansion and promising investment in advanced infrastructure across Mining, Manufacturing, Oil and Gas, Electronics and other industrial sectors are estimated to drive the market. In addition, the introduction of regulations for green energy, and rising demand in the energy efficiency promote the Next generation energy storage systems market.

The prominence of renewable energy investments by the major companies, including Beckett Energy Systems, Lockheed Martin Corporation, BYD Company Limited, FlexGen Power Systems and more, along with increasing electrification of the transport sector are denoting profitable opportunities for the growth of Next generation energy storage systems market in the forecast period.

Next Generation Energy Storage Market Segment Analysis — By Type

The market for Next Generation Energy Grid Energy Storage Systems is analyzed to grow at highest CAGR of 10.9% during the forecast period 2024–2030. There are growing research and development in terms of electricity storage for applications, such as Grid support, Electricity supply, Ancillary services, Renewables integration and more is considered as a prime success factor in increasing the market prominence of energy storage technologies. Presently, the lithium-ion and lead-acid batteries are becoming popular for residential users, and sodium-sulphur and other breakthrough batteries are majorly deployed in commercial sectors. The leading companies such as Beckett Energy Systems, BYD Company Limited, Energ2, Inc., Enersys, Enphase Energy, FlexGen Power Systems, Lockheed Martin Corporation, S&C Electric Company, UniEnergy Technologies, LLC. And AES Corporation played a significant role to accelerate the Next Generation Energy Storage Systems Market growth through extensive research and developments activities for product innovation.

Next Generation Energy Storage Market Segment Analysis — By End Use Industry

Transportation dominated the recycled polyethylene terephthalate market in 2023 and is analyzed to grow at a CAGR of 10.77% during forecast period 2024 to 2030. The Electric vehicles are the solution for this problem. However, there are many challenges like the less availability of charging stations. To overcome and fix these issues, what we need is efficient next generation energy storage system for electric vehicles which can store more energy and in efficient manner, thus longer running time of vehicles with one time charging. The serious growing issue of climate change needs adoption of sustainable Transportation system. Because the way the demand of vehicles on road is increasing, and with the expected growth rate of usage of vehicles, the peak oil demand could be reached very soon. With this they are ideal for use in short-distance electric vehicles such as taxis, trams and buses where the capacity to charge it is the time it takes for passengers to exit and enter a vehicle. Now virtually all automakers are offering plan to offer or are already offering fully electric vehicles or at least hybrid models.

Researchers from Imperial College London and University College London (UCL) are working towards creation of low-cost, high-energy supercapacitors which can power electric vehicles, and they have produced cheaper energy-dense electrode which is more sustainable and energy efficient and can make the way for wider market of high-power and rapid vehicle charging. In November 2019, Ford Unveiled its all-Electric vehicle, which was part of company’s 11 Billion plan to make 40 all electric and hybrid models by 2022. Volkswagen as well has increased its electric vehicle goal to 70 new models by 2028 with the earlier target of 50.

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Next Generation Energy Storage Market Segment Analysis — By Geography

North America is analyzed to be $ 8,490.98 Million in 2023, and is successfully contributing towards the growth of Next Generation Energy Storage Systems Market, and is also estimated to grow at a CAGR of 8.57% during 2024 to 2030. The Next Generation Energy Storage Systems Market is witnessing a significant growth in the U.S. due to the advent of the Solar PV and wind power technologies, both of which are recognised for their intermittent nature, and also account for a large portion of the renewable energy potential in the United States. The problem necessitates the development of more efficient battery energy storage devices. According to the U.S. Energy Information Administration by the end of 2022, operational utility-scale battery energy storage systems (BESSs) in the US had a total nameplate power capacity of 8,842 MW and a total energy capacity of 11,105 MWh. This has been aided significantly by price declines as well as strong governmental support at both the federal and state levels.

Next Generation Energy Storage Market Drivers

Growing Demand for Renewable Energy

Government globally is focusing on the society’s commitments to cutting carbon emissions in lune with the goal which is set out in the Paris agreement and many are putting renewable energy at the center of their strategy to meet those rapidly approaching commitments. Lower-emissions electricity generation from sources such as wind and solar power are the main building blocks of the future energy mix considered essential to bring down countries’ carbon footprints. As their share of the generation grows, there is a growing opportunity and need for next generation storage systems such as battery grids to help balance demand and supply fluctuations and to better integrate large volume of variable renewable energy. Further, the next generation storage systems market is led by the US and China, and with the leadership in both countries committed to increasing the share of electricity coming from ‘clean’ sources, energy storage capacity between them will need to increase sevenfold by 2030 from 55GW in 2020.

As per the Macquaire Organization in August 2021, in China alone, which is the world’s biggest power market and the largest investment destination for renewables, wind and solar capacity is expected to increase eightfold by 2040. Apart from this, U.S’s new goal of cutting emissions by half by 2030 could more than quadruple ESS capacity by then from 23GW in 2020. The mix that the cost of wind, solar and energy storage have fallen dramatically in the past decade — by 77 per cent, 35 per cent, and 85 per cent respectively- and it also opens up the potential for considerable new demand for these storage systems. As these systems enable high shares of renewable energy integration into the grid and can help transform the whole energy sector. Utility-scale batteries, for example, can enable a greater feed-in of renewable energy into the grid by storing excess generation during times of energy over-production for later use. Hence the growing need for renewable energy sources is creating ample number of growth aspects for the next generation energy storage systems market during the forecast period of 2024–2030.

Rising Demand for Solid State Battery

Solid-state battery development aims for a next-generation energy storage systems with higher energy density, fast charging capability, lower cost, and greater safety. Solid-state batteries have many potential applications across multiple industries, such as automotive, consumer electronics, industrial, aerospace, etc. There are two distinct categories of solid-state batteries: solid-state batteries with a very small energy capacity, already commercially available from several suppliers, aimed at applications in consumer electronics, while the biggest drive is for large-energy capacity (“bulk”) solid-state batteries for electric and hybrid electric vehicles (EV/HEVs). Many battery and automotive manufacturers have already presented their target roadmaps for mass production to secure a leadership role in the solid-state battery market despite the remaining technology and supply chain challenges. For Instance: As per the EE Times (Europe) in September 2021, Toyota is planning mass production of solid-state batteries from 2025. Quantum Scape and Panasonic are also planning mass production of solid-state batteries from 2025–2026, and Samsung SDI is working on solid-state batteries with mass production from 2027. In addition, many EV makers, such as Volkswagen, Hyundai, and BMW, have made investments in solid-state battery startups and are planning to launch their EVs with solid-state batteries in the coming years. For example, Volkswagen plans to launch its electric vehicles with solid-state batteries in about 2025, forging a partnership with startup Quantum Scape.

With this they are ideal for use in short-distance electric vehicles such as taxis, trams and buses where the capacity to charge it is the time it takes for passengers to exit and enter a vehicle. Now virtually all automakers are offering plan to offer or are already offering fully electric vehicles or at least hybrid models. For Instance: In November 2019, Ford Unveiled its all Electric vehicle, which was part of company’s 11 Billion plan to make 40 all electric and hybrid models by 2022. Volkswagen as well has increased its electric vehicle goal to 70 new models by 2028 with the earlier target of 50. Such factors would positively influence the growth of the next generation energy storage systems market during the forecast period of 2024–2030.

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Next Generation Energy Storage Market Challenges

Security Issues Preying Utility Sector

Security aspect is impacting energy & utility sector with the cyberattacks. This factor is somewhere restricting the next-generation energy storage systems market growth. Power and utilities systems that connect organizations and homes are essential types of critical infrastructure. A recent study conducted by Fortinet shows that attacks against energy utilities are among the top three most targeted sectors for cyberattacks in the US. In addition, Europe, Australia, and Japan have reported an increase in threats against critical infrastructure. This threat is caused by modernization of OT networks that control critical infrastructure. As IT and OT networks converge, the “air gap” that OT systems once relied on for cybersecurity is eliminated. Without any utility cybersecurity measures in place, these critical infrastructures are left at risk. The risk of a successful cyberattack on critical infrastructure could be severe — damaged power grids could leave cities in the dark, or even put lives at risk. Also, Nowadays, the battery energy storage system (BESS) has become an important component of the electric grid. It can serve multiple services such as frequency regulation, voltage control, backup, black start, etc.

Next Generation Energy Storage Market Landscape

The Next Generation Energy Storage market is moderately consolidated with key players are adopting strategies such as acquisition, product launches and others with the players and companies prevalent in the market. The top companies present in the market include the below.

BYD Company Limited

Energ2, Inc.

Enersys

Enphase Energy

Flex Gen Power Systems

Lockheed Martin Corporation

S&C Electric Company

AES Corporation

LG Energy Solution

NextEra Energy Inc.

Launches/Acquisitions

In September 2023, Ener Venue introduces its latest Energy Storage Vessels™ (ESVs) with enhanced capacity, density, and power, offering unparalleled advantages over lithium-ion batteries for various clean energy applications. Backed by an extended warranty and large-scale deals, the next-generation ESVs mark a significant step in advancing stationary storage solutions.

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Carbon Fiber Construction Repair Market worth $192 million by 2028

The report "Carbon Fiber Construction Repair Market by Product Type (Rebar, Fabric, Plate), Application (Residential & Commercial Building, Infrastructure, Industrial), and Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028", is estimated at USD 119 million in 2023 and is projected to reach USD 192 million by 2028, at a CAGR of 10.0% from 2023 to 2028. The aging infrastructure, government support for construction repair projects, and rapid urbanization are triggering the growth of the carbon fiber construction repair market. The high growth of construction repair composites can be attributed to the growing number of construction repair projects globally due to the rising population, rapid urbanization, and high economic growth in some regions. Emerging markets like China, the UAE, and Saudi Arabia are showing remarkable growth due to the aforementioned factors. Also, construction repair composites are much better alternatives to traditional substitutes, i.e., steel and aluminum. This has been a decisive factor in carbon fiber composite growth, especially in regions like North America and Europe, where the usage of construction repair composite products is quite high.

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The carbon fiber fabric segment is expected to account for the largest market share in 2022, in terms of both value and volume.

Carbon fiber fabric is a lightweight, high-strength material that is increasingly being used in commercial building repair. It is especially well-suited for repairing and strengthening concrete structures, which are the most common type of commercial building structure. It can be used to repair a wide range of concrete defects, including cracks, spalls, delamination, and corrosion. It can also be used to strengthen concrete structures to increase their load-bearing capacity or resistance to seismic forces. Generally, epoxy bonding is used to apply carbon fiber fabric to concrete surfaces. The fabric is first cut to size before being bonded to the concrete with a special epoxy resin. The epoxy resin cures to form a strong and long-lasting bond between the fabric and the concrete.

Residential & commercial building applications are expected to grow with the highest CAGR during the forecast period.

Carbon fiber composite products have a wide range of properties that make them ideal to use in the repair of residential projects across the globe. These properties include a high strength to weight ratio and anti-corrosion properties. Steel mesh is getting widely replaced by grids or sheets of composite fiber made carbon fiber composites, which are used in the inner as well as outer sections of concrete wall elements. The use of composite fiber sheets helps to decrease the overall weight of structural units and provides the needful chemical protection.

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North America is expected to account for the largest share in 2022

Carbon fiber construction repair is in high demand in the North American region due to its use in the repair of commercial, residential, bridges, silo-flue pipes, oil and natural gas pipelines, water structures, and industrial structures. Among the many repair projects driving the market of carbon fiber construction repair in North America are the Old Youngs Bay Bridge across Youngs Bay in Astoria, Oregon (US), Huntley Bridge Perry's Creek Bridge in Burleigh Falls, Ontario (Canada), and Teed Bridge Cumberland County, Nova Scotia (Canada).

Prominent companies in the carbon fiber composite repair market include SIKA AG (Switzerland), Mapei SpA (Italy), Fosroc Inc. (UAE), Master Builders Solutions (Germany), Critica Infrastructure (US), AB-SCHOMBURG Yapi Kimyasallari A.S. (Turkey), Dowaksa (UAE), Dextra Group (Thailand), Rhino Carbon Fiber Reinforcement Products (US), Mitsubishi Chemical Corporation (Japan), Toray Industries Inc. (Japan), Simpson Strong-Tie Company Inc. (US), Antop Global Technology Co., Ltd. (China), Sireg Geotech S.r.l. (Italy), and Chomarat Group (US).

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The Evolution and Growth of the Smart Gas Meter Market

The Smart Gas Meter Market is evolving rapidly, driven by the increasing need for efficient energy management and the growing emphasis on smart infrastructure. This article explores the key trends, technological advancements, and future potential of the Smart Gas Meter Market.

Introduction

As the world becomes more connected and technology-driven, traditional gas meters are being replaced by smart gas meters. These advanced devices are capable of real-time data collection, remote monitoring, and automated billing, making them an essential part of modern energy management systems. The Smart Gas Meter Market is expanding as utility companies, governments, and consumers recognize the benefits of these innovative devices.

Market Drivers

Demand for Energy Efficiency

One of the primary drivers of the Smart Gas Meter Market is the increasing demand for energy efficiency. As energy consumption continues to rise, there is a growing need to manage resources more effectively. Smart gas meters provide accurate and timely data on gas usage, enabling consumers and utilities to monitor consumption patterns, detect leaks, and optimize energy use. This focus on energy efficiency is driving the adoption of smart gas meters across residential, commercial, and industrial sectors.

Government Initiatives and Regulations

Government initiatives and regulations are playing a significant role in the growth of the Smart Gas Meter Market. Many governments around the world are promoting the adoption of smart meters as part of their efforts to reduce carbon emissions and enhance energy security. For example, in Europe, the EU's Third Energy Package mandates the installation of smart meters in all households by a specific deadline. Such regulatory frameworks are encouraging utilities to invest in smart gas meters and driving market growth.

Technological Advancements

Technological advancements are at the forefront of the Smart Gas Meter Market's growth. Modern smart gas meters are equipped with advanced features such as wireless communication, data encryption, and integration with smart home systems. These technologies enable real-time monitoring, remote control, and seamless integration with other smart devices, enhancing the overall user experience. The continuous development of these technologies is expected to further accelerate the adoption of smart gas meters.

Key Technologies

IoT Integration

The integration of the Internet of Things (IoT) is revolutionizing the Smart Gas Meter Market. IoT-enabled smart gas meters can communicate with other devices and systems, providing real-time data on gas consumption, pressure, and temperature. This connectivity allows for remote monitoring and control, enabling utilities to detect issues such as leaks or abnormal usage patterns quickly. IoT integration also facilitates automated billing, reducing the need for manual meter readings and improving accuracy.

Advanced Data Analytics

Data analytics is another critical technology driving the Smart Gas Meter Market. The vast amounts of data generated by smart gas meters can be analyzed to gain valuable insights into consumption patterns, demand forecasting, and system performance. Utilities can use these insights to optimize their operations, improve customer service, and develop personalized energy plans. Advanced data analytics also enable predictive maintenance, allowing utilities to address potential issues before they become critical, reducing downtime and improving reliability.

Enhanced Security Features

Security is a significant concern in the Smart Gas Meter Market, particularly as these devices become more connected and integrated with other systems. Modern smart gas meters are equipped with advanced security features such as encryption, authentication, and tamper detection. These features ensure that data transmitted by the meters is secure and protected from unauthorized access. The emphasis on enhanced security is crucial for building consumer trust and ensuring the widespread adoption of smart gas meters.

Market Challenges

High Initial Costs

One of the main challenges facing the Smart Gas Meter Market is the high initial cost of installation. While smart gas meters offer long-term benefits such as reduced energy consumption and lower operational costs, the upfront investment required for their installation can be a barrier for some consumers and utilities. However, as technology advances and economies of scale are realized, the costs are expected to decrease, making smart gas meters more accessible.

Data Privacy Concerns

Data privacy is another challenge in the Smart Gas Meter Market. The vast amount of data collected by smart gas meters raises concerns about how this information is used and who has access to it. Consumers are increasingly aware of the importance of data privacy and may be hesitant to adopt smart meters if they feel their personal information is at risk. Addressing these concerns through robust data protection measures and transparent communication will be crucial for the continued growth of the market.

Future Potential

The future potential of the Smart Gas Meter Market is vast, with numerous opportunities for growth and innovation. As technology continues to advance, smart gas meters are expected to become more sophisticated, offering new features and capabilities. For example, the integration of artificial intelligence (AI) could enable smart gas meters to learn from consumption patterns and provide personalized recommendations for energy savings. Additionally, the expansion of smart cities and the growing adoption of smart home systems are expected to drive demand for smart gas meters.

The market is also likely to see increased collaboration between utilities, technology providers, and government agencies. These collaborations will be essential for developing standardized protocols, ensuring interoperability, and addressing regulatory challenges. As the market matures, the focus will shift from merely deploying smart gas meters to optimizing their performance and maximizing their benefits.

Conclusion

The Smart Gas Meter Market is poised for significant growth, driven by the increasing demand for energy efficiency, government initiatives, and technological advancements. While challenges such as high initial costs and data privacy concerns need to be addressed, the future potential of the market is immense. As smart gas meters become more integrated with IoT, advanced analytics, and enhanced security features, they will play a crucial role in modern energy management systems and contribute to a more sustainable and efficient energy future.

[industrynewsupdates]

Caustic Soda Procurement Intelligence: A Deep Dive

The caustic soda category is anticipated to grow at a CAGR of 5.1% from 2023 to 2030. In 2022, the category size was estimated to be valued at USD 40.6 billion with the Asia-Pacific region's dominance as a result of a rise in raw material industrial demand for textiles, paper, and other materials as well as manufacturing hubs. The category is escalated globally, owing prominently to its intense abilities and importance across both the residential sector & industries. It is a versatile compound that finds numerous applications across different industries from primary usage in detergents, packaging, and treatment to food, chemical, and automobile. Another factor fueling the category growth is its use in processes such as, making drugs and bauxite purification. Being a primary product for many industries, demand for it remains high, whether it is for parts of EV in cars or the water treatment business. The category is also widely utilized in the extraction of bauxite, and demand for it will rise parallelly as the region's production of aluminum rises.

An increase in innovation and development in production techniques would present potential sustainable growth opportunities for the category. When compared to caustic soda generated conventionally, Vynova renewable caustic soda has a much smaller carbon footprint, as it is manufactured using renewable electricity. It makes it possible for clients in a variety of industries to produce more environmentally friendly goods. Westlake's low-carbon caustic soda, sold under the trade name GreenVin, has a lower carbon footprint by more than 30% than standard Westlake Vinnolit caustic soda. Hamwha, a leading chemical company, increases the amount of caustic soda it produces for advancing and developing the usage of elements in sustainable transportation - specifically EV production.

With numerous suppliers and producers, from large multinational chemical firms to smaller regional or local businesses, the category is highly fragmented. Due to the variety of applications in the category, there are numerous niche markets created. Each industry has its own manufacturing capacity, distribution system, and consumer. The distribution of the categories is influenced by industry demand, economic situations, legal and regulatory frameworks, and technological development. In 2022, Asia Pacific accounted for a large portion of the market. China dominates both production and demand for caustic soda, as it does with so many other chemical products. It holds around half of the world's caustic soda manufacturing capacity. Shale gas output in the US has significantly increased recently, rising category demand.

Order your copy of the Caustic Soda Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Approximately 99.5% of caustic soda consumed worldwide is produced through the conventional chlor-alkali process. Raw materials, production volume, machinery, etc. are the cost components of the category. Energy usage also accounts for a sizable amount of variable costs. Prices for caustic soda increased globally, averaging USD 769/MT in the first quarter of 2023 compared to last year’s average USD 719/MT due to factors such as supply chain disruption and rising energy costs. Sales of caustic soda increased by 17% in Q1FY23 to 278,000 tonnes, with a utilization rate of 89%. Following Russia's invasion of Ukraine, China took over the role of Russia and Ukraine as suppliers of chlor-alkali products to Europe, which resulted in shortages in the Asian domestic market and an increase in local pricing. Due to the oversaturation of the market in Europe brought on by cheap imports from China, the prices remained lower in the region.

The category can be sourced from various methods, primarily through the domestic market.  Due to the simple accessibility of production's raw materials, many nations have domestic manufacturing facilities. It provides advantages like lower shipping costs, shorter lead times, and support for the local economy. As per the industry specification quality testing should be done to meet standards and requirements. Suppliers that demonstrate sustainable practices is another factor influencing sourcing intelligence.

Browse through Grand View Research’s collection of procurement intelligence studies:

Chemical Management Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Plasticizers Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Caustic Soda Procurement Intelligence Report Scope 

Caustic Soda Category Growth Rate: CAGR  5.1% from 2023 to 2030

Pricing growth Outlook: 2% - 3% (annual)

Pricing Models: Spot pricing, Production and processing pricing, Quality standards pricing, Competition based pricing

Supplier Selection Scope: Cost and pricing, Past engagements, Production capacity, Supply chain and Logistics

Supplier selection criteria: Quality standards, production capacity, pricing, supply chain transparency, transportation and handling, technical specifications, operational capabilities, regulatory standards and mandates, category innovations, and others.

Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies 

Dow Chemical Company

PPG Industries

Hanwha Chemical Corporation

INEOS Group

Solvay SA

BASF SE

FMC Corporation

Occidental Petroleum Corporation

Formosa Plastics Group

Tosoh Corporation

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[globalgrowthinsights]

Automotive HUD Market Size, Share, Growth, Trends [2032]

Automotive HUD Market provides in-depth analysis of the market state of Automotive HUD manufacturers, including best facts and figures, overview, definition, SWOT analysis, expert opinions, and the most current global developments. The research also calculates market size, price, revenue, cost structure, gross margin, sales, and market share, as well as forecasts and growth rates. The report assists in determining the revenue earned by the selling of this report and technology across different application areas.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Automotive HUD in these regions till the forecast period

North America

Middle East and Africa

Asia-Pacific

South America

Europe

Key Attentions of Automotive HUD Market Report:

The report offers a comprehensive and broad perspective on the global Automotive HUD Market.

The market statistics represented in different Automotive HUD segments offers complete industry picture.

Market growth drivers, challenges affecting the development of Automotive HUD are analyzed in detail.

The report will help in the analysis of major competitive market scenario, market dynamics of Automotive HUD.

Major stakeholders, key companies Automotive HUD, investment feasibility and new market entrants study is offered.

Development scope of Automotive HUD in each market segment is covered in this report. The macro and micro-economic factors affecting the Automotive HUD Market

Advancement is elaborated in this report. The upstream and downstream components of Automotive HUD and a comprehensive value chain are explained.

Browse More Details On This Report at @https://www.globalgrowthinsights.com/market-reports/automotive-hud-market-100004

 Global Growth Insights

Web: https://www.globalgrowthinsights.com

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[companyknowledgenews]

Bosch Acquires Residential and Light Commercial HVAC Business from Johnson Controls and Hitachi - Journal Today Internet https://www.merchant-business.com/bosch-acquires-residential-and-light-commercial-hvac-business-from-johnson-controls-and-hitachi/?feed_id=149518&_unique_id=66a997273d13a #GLOBAL - BLOGGER BLOGGER Innovative, Energy-Efficient SolutionsThe current transformation in technologies and market conditions in the field of HVAC solutions opens up huge opportunities for supplying innovative and energy-efficient solutions for mitigating global warming and the move to alternative energy. Heating technology is moving away from fossil fuels such as oil and gas toward heat pumps and heat pump-hybrid solutions. At the same time, air-conditioning technology is growing in importance both in Europe and worldwide.Frank Meyer, the Bosch Management Board Member responsible for the Energy and Building Technology business sector, and thus also for the Bosch Home Comfort Group and the integration of the new unit, says: “It is Bosch’s aim to play an active part in shaping the innovative and growing market for energy and building technology, and to occupy a globally leading position. With this acquisition, we are improving our position, especially in air conditioning. In addition, we will be able to globally expand our heat-pump business and achieve greater economies of scale. With our technology and our products, we can work together to make a bigger contribution to energy efficiency and to more comfort and a better quality of life for many people in light of global warming. That’s ‘Invented for life’ in its truest sense.”Complementary Portfolio, Established brandsBosch intends to integrate the acquired businesses into the Home Comfort Group. The 14,600 associates of the existing Bosch Home Comfort Group generated sales of roughly 5 billion euros in 2023. Home Comfort is excellently positioned in the major segments of the heating market, of the heat-pump market, and of the market for heat pump-hybrid solutions, which comprise a heat pump and a fossil fuel-fired boiler for peak loads.Following the transaction, the new unit will have a workforce of more than 26,000 and be able to benefit considerably from economies of scale and a complementary portfolio at the interface between heating and cooling. Jan Brockmann, president of the Bosch Home Comfort Group, says: “With our successful heating technology in Europe, we already have a strong team and a sound foundation. Now is the right time for a bold step toward a global presence. Demand for air-conditioning solutions is growing especially fast. “In the US, for example, Bosch expects to see more than 50 percent growth by the end of the decade, and in Europe as well, strong growth of approximately 30 percent is forecast up to 2030. Together, we will be able to build on strong, well-established brands. We are looking forward to shaping the future of the Bosch Home Comfort Group with our future colleagues and their innovations and ideas,” Brockmann adds.The HVAC business Bosch plans to acquire from Johnson Controls has an especially strong presence in the United States and Asia. In the United States, its portfolio focuses on ducted solutions in which air passes from a central source through ducts in order to heat or cool all rooms at the same time.In Asia, it especially sells ductless solutions, where interior units in each room can heat or cool individually, as well as modern air-conditioning systems based on variable refrigerant flow (VRF) systems. This technology is used in commercial applications ranging from light commercial premises such as retail stores to large projects such as hotels and hospitals. The portfolio in these regions is supplemented by efficient air-water heat pumps, which Johnson Controls offers above all in Europe.“Integrated unit will then have workforce of more than 26,000 and complementary portfolio at the interface between heating and cooling…”Source Link: https://www.

contractormag.com/around-the-web/article/55129010/bosch-acquires-residential-and-light-commercial-hvac-business-from-johnson-controls-and-hitachi http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/07/microchip-1024x597.jpg Innovative, Energy-Efficient Solutions The current transformation in technologies and market conditions in the field of HVAC solutions opens up huge opportunities for supplying innovative and energy-efficient solutions for mitigating global warming and the move to alternative energy. Heating technology is moving away from fossil fuels such as oil and gas toward heat pumps and heat … Read More

[businessindustry]

2032, Protective Mask Market Future Demands, Emerging Technologies and Forecast by Reports and Insights

The Reports and Insights, a leading market research company, has recently releases report titled “Protective Mask Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Protective Mask Market Research share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Protective Mask Market?

The global protective mask market size reached US$ 6.0 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 8.1 billion in 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.

What are Protective Mask?                                                                                                                                                                            

A protective mask is a device worn over the nose and mouth to guard against harmful particles, germs, or pollutants in the air. They are frequently used in healthcare settings to prevent infections from spreading and in industrial or construction environments to provide protection against dust, fumes, and other hazards. Protective masks come in various designs and filtration efficiencies, and some models offer extra features like respiratory valves or replaceable filters for added safety.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1845

What are the growth prospects and trends in the Protective Mask industry?

The protective mask market growth is driven by various factors. The protective mask market is experiencing notable growth, driven by rising pollution levels, growing awareness of personal health and safety, and regulatory mandates for workplace safety. Demand for protective masks is high among healthcare workers, the general public, and industrial workers, prompting increased production and innovation. Manufacturers are introducing masks with advanced filtration technologies, comfortable designs, and sustainable materials to cater to a wide range of consumer needs. Hence, all these factors contribute to protective mask market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Product Type:

N95 Respirators

Surgical Masks

Cloth Masks

Others

By Filter Type:

Particulate Filtration

Gas & Vapor Filtration

Combination Filtration

By Material:

Non-woven

Cotton

Polypropylene

Others

By Design:

Cup Masks

Folded Masks

Flat Masks

Others

By End-User:

Healthcare

Industrial

Commercial

Residential

Others

By Distribution Channel:

Direct Sales

Distributors/Wholesalers

Online Retail

Pharmacies & Drugstores

Others

By Application:

Medical Use

Industrial Use

Personal Use

Others

By Age Group:

Adults

Children

By Sales Channel:

Business-to-Business (B2B)

Business-to-Consumer (B2C)

By Price Range:

Economy/Budget

Mid-Range

Premium

By Features:

Filtration Efficiency

Breathability

Reusability

Antimicrobial Properties

Comfort and Fit

By Certification:

NIOSH (National Institute for Occupational Safety and Health)

EN (European Norms)

FDA (U.S. Food and Drug Administration)

CE (Conformité Européene)

Others

By Sales Channel:

Online Sales

Offline Sales

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

United Kingdom

France

Italy

Spain

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Rest of MEA

Who are the key players operating in the industry?

The report covers the major market players including:

3M Company

Honeywell International Inc.

Kimberly-Clark Corporation

Cardinal Health, Inc.

Alpha Pro Tech, Ltd.

Moldex-Metric, Inc.

Ansell Limited

DACH Schutzbekleidung GmbH & Co. KG

UVEX ARBEITSSCHUTZ GmbH

Makrite

Louis M. Gerson Co., Inc.

Delta Plus Group

Medline Industries, Inc.

Prestige Ameritech

Irema Ireland

View Full Report: https://www.reportsandinsights.com/report/Protective Mask-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

Reports and Insights consistently mееt international benchmarks in the market research industry and maintain a kееn focus on providing only the highest quality of reports and analysis outlooks across markets, industries, domains, sectors, and verticals. We have bееn catering to varying market nееds and do not compromise on quality and research efforts in our objective to deliver only the very best to our clients globally.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

Reports and Insights Business Research Pvt. Ltd. 1820 Avenue M, Brooklyn, NY, 11230, United States Contact No: +1-(347)-748-1518 Email: sales@reportsandinsights.com Website: https://www.reportsandinsights.com/ Follow us on LinkedIn: https://www.linkedin.com/company/report-and-insights/ Follow us on twitter: https://twitter.com/ReportsandInsi1

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Automated Optical Inspection Systems Market Size, Share, Demand, Growth and Forecast 2024-2032

Automated Optical Inspection Systems Market provides in-depth analysis of the market state of Automated Optical Inspection Systems manufacturers, including best facts and figures, overview, definition, SWOT analysis, expert opinions, and the most current global developments. The research also calculates market size, price, revenue, cost structure, gross margin, sales, and market share, as well as forecasts and growth rates. The report assists in determining the revenue earned by the selling of this report and technology across different application areas.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Automated Optical Inspection Systems in these regions till the forecast period

North America

Middle East and Africa

Asia-Pacific

South America

Europe

Key Attentions of Automated Optical Inspection Systems Market Report:

The report offers a comprehensive and broad perspective on the global Automated Optical Inspection Systems Market.

The market statistics represented in different Automated Optical Inspection Systems segments offers complete industry picture.

Market growth drivers, challenges affecting the development of Automated Optical Inspection Systems are analyzed in detail.

The report will help in the analysis of major competitive market scenario, market dynamics of Automated Optical Inspection Systems.

Major stakeholders, key companies Automated Optical Inspection Systems, investment feasibility and new market entrants study is offered.

Development scope of Automated Optical Inspection Systems in each market segment is covered in this report. The macro and micro-economic factors affecting the Automated Optical Inspection Systems Market

Advancement is elaborated in this report. The upstream and downstream components of Automated Optical Inspection Systems and a comprehensive value chain are explained.

Browse More Details On This Report at @https://www.globalgrowthinsights.com/market-reports/automated-optical-inspection-systems-market-100572

 Global Growth Insights

Web: https://www.globalgrowthinsights.com

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Mining Explosives Market 2024 Driving Factors Forecast Research 2032

Mining Explosives Market provides in-depth analysis of the market state of Mining Explosives manufacturers, including best facts and figures, overview, definition, SWOT analysis, expert opinions, and the most current global developments. The research also calculates market size, price, revenue, cost structure, gross margin, sales, and market share, as well as forecasts and growth rates. The report assists in determining the revenue earned by the selling of this report and technology across different application areas.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Mining Explosives in these regions till the forecast period

North America

Middle East and Africa

Asia-Pacific

South America

Europe

Key Attentions of Mining Explosives Market Report:

The report offers a comprehensive and broad perspective on the global Mining Explosives Market.

The market statistics represented in different Mining Explosives segments offers complete industry picture.

Market growth drivers, challenges affecting the development of Mining Explosives are analyzed in detail.

The report will help in the analysis of major competitive market scenario, market dynamics of Mining Explosives.

Major stakeholders, key companies Mining Explosives, investment feasibility and new market entrants study is offered.

Development scope of Mining Explosives in each market segment is covered in this report. The macro and micro-economic factors affecting the Mining Explosives Market

Advancement is elaborated in this report. The upstream and downstream components of Mining Explosives and a comprehensive value chain are explained.

Browse More Details On This Report at @https://www.globalgrowthinsights.com/market-reports/mining-explosives-market-101479

 Global Growth Insights

Web: https://www.globalgrowthinsights.com

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[trendingreportz]

Para-aramid Fibers Market - Forecast(2024 - 2030)

Para-aramid Fibers Market Overview

Para-aramid fibers market size is forecast to reach $6.6 billion by 2026, after growing at a CAGR of 7.2% during 2021-2026. Para-Aramid is an aromatic polyamide distinguished by long, rigid polymer crystalline chains. The major drivers for this market are the increasing usage of para-aramid fiber in brake pads, clutches, transmission belts, gaskets, linings, and tires in automotive and the growing demand for protective clothing in defense and industrial sectors. Also, the increasing utilization of para-aramid fiber as an alternative to asbestos and steel in military and aerospace applications for ballistic grade body armor fabric is likely to fuel market growth over the forecast period. Furthermore, stringent government norms regarding the safety of employees at the workplace and large penalties for non-compliance with these standards is also anticipated to contribute to the para-aramid fiber industry growth during the forecast period.

COVID-19 Impact

The COVID-19 pandemic has impacted the day-to-day practices of virtually all major companies around the world, bringing economies to a standstill. This has led to a decrease in the demand and production of aromatic polyamides such as aramid fibers in most of the applications, which is lowering the consumption of para-aramid fibers in 2020. The adoption of these fibers in personal protective equipment (PPE) apparel, on the other hand, has rapidly increased. The manufacturers are also focused first on fulfilling the PPE orders because during the pandemic they have become a critical component. For instance, DuPont is manufacturing PPE clothing based on its Nomex aramid, Kevlar & Tychem, and Tyvek. The demand for aromatic polyamides such as aramid fibers is very high as compared to other materials, owing to which the market is gradually gaining momentum again.

Request Sample

Report Coverage

The report: “Para-aramid Fibers Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the para-aramid fibers Industry.

By Product Form: Paper, Filament Yarn, Powder, Film, Short-Cut Fibers, Pulp, and Others.

By Application: Reinforcement (Composites, Rubbers, Elastomers, Cables, and Others), Protective Apparels (Chemical Resistant apparels, Flame Resistant apparels, Cut Resistant apparels, and Others), Ballistic Protective (Body Armor, Bullet-Proof Vests, Vehicle Armor, Helmets, and Others), Friction Linings (Clutch Plates, Brake Pads, Transmission Belts, and Others), Adhesives & Sealants, and Others.

By Application: Protection & Security, Automotive (Automotive Cars, Light Commercial vehicles (LCV), Heavy Commercial Vehicles (HCV), and Others), Aerospace (Commercial, Military, and Others), Electrical & Electronics (Fibre Optic, Electromechanical Cables, Circuit Boards, And Others), Marine (Passenger, Supply Vessels, Cargo, and Others), Industrial (Mining, Oil& Gas, Power Generation, Chemical, and Others), Building & Construction (Residential, Commercial, and Others), Sports (Tennis Strings, Hockey Sticks, and Others), and Others.

By Geography: North America (U.S., Canada, and Mexico), Europe (U.K, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).

Key Takeaways

Europe dominates the para-aramid fibers market, owing to the increasingly stringent government regulations in the region governing the proper usage of proper personal protective equipment (PPE) in the workplaces.

Para-aramid fibers are used widely in friction and sealing products as an alternative to asbestos. Due to superior advantages such as extended life, non-glaze/smear on the surface of the lining, fade resistance, and non-aggressive wear on drums and discs, they are commonly used in friction plates, transmission belts, and pads. Over the projected period, this is expected to fuel demand.

Furthermore, Para-aramid fibers are used as strength providers in the design and manufacturing of fiber optic cables owing to their low weight, flexibility, dielectricity, and handling. Thus, the rise in demand for high bandwidth fiber optic cables for data services and communication is also expected to have a positive influence on the market.

Increasing onshore and offshore drilling activities, coupled with a thriving shale oil and gas industry is also anticipated to play a key role in driving the demand for aromatic polyamides such as para-aramid during the forecast period.

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Para-aramid Fibers Market Segment Analysis - By Product Form

The filament yarn segment held the largest share in the para-aramid fibers market in 2020 and is expected to grow at a CAGR of 7.8% during 2021-2026, owing to the various benefits that it offers when compared to other fiber forms. Filament yarn-based para-aramid fibers offer extensive characteristics such as excellent strength-to-weight properties, high dimensional stability, heat resistance, flame resistance, chemical resistant, and more. Owing to these extensive characteristics of filament yarn-based para-aramid fibers are largely employed in applications such as filtration, protective clothing, transmission belts, laundry tape, and more. Thus, these extensive characteristics are the major factor driving the demand for filament yarn-based para-aramid during the forecast period.

Para-aramid Fibers Market Segment Analysis - By End-Use Industry

The protection & security segment held the largest share in the para-aramid fiber market in 2020 and should grow at a CAGR of 8.2% during 2021-2016. A huge amount of para-aramid fiber is used in safety & protection applications such as military, private security, municipal law enforcement, and private contractors involved in government projects. Para-aramid fiber is also used in personal protective equipment (PPE) to help manufacturers provide premier cut protection from on-the-job hazards in the automotive, manufacturing, construction, aerospace, and electronics industries. These fibers are generally sued to make stab-proof, fire-proof, and cut-proof protective clothing such as coveralls, gloves, footwear, and helmets. Recent technological advancements in armors helped to reduce the extra weight for soldiers, and also further improvisation in personal protective clothing is driving the demand for soft and lightweight armor materials.

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Para-aramid Fibers Market Drivers

Stringent Government Regulations Regarding the Safety of Employees at the Workplace

Various governments are implementing stringent regulations to govern the proper usage of protective apparel in worksites to ensure the safety of employees. For instance, according to the Food Safety (General Food Hygiene) Regulations, it is mandatory for every person working in a food handling area to wear suitable, clean, and appropriate, protective clothing. Also, the Control of Substances Hazardous to Health Regulations (COSHH) made it necessary for food industry workers to use protective clothing and equipment. Therefore, owning to these regulations the demand for protective clothing from the food industry is increasing. In addition, various government regulations and standards have made it mandatory for metal and mining industry workers to wear protective clothing, such as NFPA 70E, ANSI / ISEA 138, and so on. Hence, owing to these regulations the demand for protective clothing from the metal and mining industry is increasing. Various government regulations and standards have made it necessary for law enforcement and firefighters to wear protective clothing while performing their duties such as NFPA1971, EN 1486, EN 13911, and EN 659. Therefore, owning to these regulations and standards the demand for protective clothing is increasing, which is driving the para-aramid fibers market growth.

Flourishing Automotive and Aerospace Industry

The use of para-aramid fibers in tires provides advantages such as higher performance, higher protection, higher comfort, and lower fuel consumption, resulting in increased demand from the automotive industry. In addition, para-aramid fibers are also used in aerospace components, including wings, fuselage, landing gear doors, trailing edge plates, vertical and horizontal stabilizers, and flight control surfaces. They are used primarily in these components because of their superior performance characteristics such as impact resistance and low weight. And the automotive and aerospace industry is flourishing in various regions. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), the production of light commercial vehicles has increased from 1,348,932 in 2018 to 1,431,904 in 2019, an increase of 6.2% in Canada. In November 2020, Boeing projected that China's airlines will buy $1.4 trillion worth of 8,600 new aircraft and $1.7 trillion worth of commercial aviation services over the next 20 years. By 2030, Boeing's latest business outlook predicts demand for 2,520 new aircraft in the Middle East. And with the flourishing automotive and aerospace industry, the demand for para-aramid will also substantially increase, which will then drive the market growth.

Para-aramid Fibers Market Challenges

Presence of Alternative Materials and High Production Cost of Para-Aramid Fibers

It is anticipated that the danger of substitutes will remain moderate over the forecast period. While aramid fibers are extremely famous for their robust applications in the industry, they also have some demerits. The propensity to absorb moisture, for instance, discourages their use in a wet environment. These products are also combined with epoxy systems to solve certain problems. Such additives further increase the overall cost of the product and unlatch the door for other substitute materials. For instance, carbon, glass, and polyethylene fibers can be used as alternatives to para-aramid fibers depending on the requirement in various application segments. Furthermore, product manufacturers are facing numerous challenges, elevated manufacturing costs, and low production efficiency, high initial investment, and inconsistent raw material supply are also expected to hamper market growth, thereby restraining the para-aramid fibers market growth during the forecast period.

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Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the para-aramid fibers market. Major players in the para-aramid fibers market are China National Bluestar (Group) Co. Ltd., DuPont de Nemours Inc., Huvis Corp., Hyosung Corp., Kermel, Kolon Industries Inc., Sro Aramid (Jiangsu) Co. Ltd., Teijin Ltd., Toray Industries Inc., and Yantai Tayho Advanced Materials Co.

Acquisitions/Technology Launches

In November 2020, Teijin Aramid announced the results of its sustainability-focused pilot program (2018). The pilot proves that this innovative approach can improve the environmental impact of Teijin Aramid’s production processes, without altering the material properties of the resulting ultra-high-strength para-aramid fibers under the brand name Twaron® yarn.

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HVC Market: An Explainer on Widening Applications

Given the infrastructure space, the budgetary allocation, industry CAPEX, and policy reforms have spearheaded investments in various projects in the past few years. The European Commission declared grants for 135 transport projects under the Connecting Europe Facility. Such projects will guarantee an increase in demand for all types of high voltage cables to meet energy demands among the growing population. As per Triton’s analysis, the global high voltage cable market is expected to garner revenue worth $59.80 billion by 2030, growing at a CAGR of 5.52% during the forecast period 2023-2030.

Equipped with various conductors and insulators, HVCs are designed to transmit electricity over long distances without power losses. This benefit has elevated their adoption in various sectors, including infrastructure and renewable energy.

Rising Applications: Bridging the Growth Gap

We know that HVCs are expansively employed for high voltage energy transmission; however, their application is not limited to infrastructure. The vertical sector in the studied market includes renewable energy, infrastructure, and industrial. Let’s dive into each category to understand their role in the market’s expansion.

Renewable Energy: While there are several renewable energy sources, investments in solar and wind energy are by far at their peak. As per the Global Wind Energy Council, wind farms are estimated to generate around 536 GW of global power over the next 5 years. A sizable number of HVCs will be required to connect offshore projects to the main grid line. In this regard, submarine cables will be employed for offshore projects, while overhead cables will find application in onshore projects.

Regional Focus: Several European governments are supporting clean energy projects, with Germany leading over other nations. By 2050, the nation’s energy transition plan aims to generate 80% of electricity via renewable sources. To achieve this target, the nation is set to upgrade its high voltage power transmission networks. Further, in the Asia-Pacific, China leads in renewable energy installations, attaining a capacity of approximately 1020 GW in 2021. These factors are thus expected to offer lucrative opportunities for market development.

Industrial: Triton’s analysis of the given market by industrial vertical includes categories like mining, oil & gas, power & utilities, chemical & petroleum, and others. Estimates indicate the power & utility subsegment holds the largest share at a CAGR of 4.23% in the category. Underground and overhead cables have gained prominence in power utility, manufacturing, and mining, while the submarine is used in the oil & gas industry. The robust demand for HVCs is supported by the rising focus on installing power generation plants to support growing operations.

Regional Focus: Industrialization and government initiatives across the UK, Germany, France, and Spain have elevated the adoption of high voltage cables. Large-scale HVCs are employed for excavation projects for powering on-site machines. As per our analysis, the natural gas sector is anticipated to expand greatly. In South East Europe, the Gas Corridor pipeline infrastructure has delivered the first 10 billion cubic meters of gas as of March 2022. The Baltic Pipe Project is another project that connects gas reservoirs in Israel and Cyprus to Greece. These mega projects have widened the scope of the Europe HVC market.

Infrastructure: The HVC market is supported by various commercial and residential construction projects. The commercial category captures a majority of shares in the infrastructure segment. Several nations in Asia-Pacific, the Middle East, and Latin America have undertaken upgradation projects from rail signaling to network infrastructure. Overhead and underground cables are widely deployed in big commercial spaces with the capacity to have their substations. Additionally, the rising demand to upgrade broadband services and the advent of the 5G network has influenced network providers to upgrade infrastructure, ultimately driving the high voltage cable market.

Regional Focus: Canada declared its plan to phase out coal-fired electricity by 2030, with the provinces of Alberta, Saskatchewan, and British Columbia, setting ambitious energy targets. The government aims to invest around $350 billion in electricity infrastructure by 2030, soaring demand for various power equipment, including high voltage cables. Such developments are projected to open avenues for HVC manufacturers in North America.

Growth Outlook: Competitive Analysis

Given the rising applications of high voltage cables, there is intense competition among contenders. In recent years, urbanization, high power consumption, and investment in emerging nations have influenced players to acquire more contracts or engage in product launches to gain a higher market share.

NKT Cable, in January 2022, acquired Ventcroft Ltd to add its fire-resistant cable technology to the product line and expand in the European power cable market.

In September 2022, NKT Cable introduced low-carbon copper for the 320 kV HVDC cables to lower carbon footprint, delivered to Dogger Bank C in the North Sea.

Tratos partnered with Enertechnos in 2019 to develop an innovative cable to tackle the UK's energy loss.

In retrospect, population growth and industrialization have elevated the demand and production of HVCs across sectors. However, the rising efforts to limit global temperature below 2 °C under the Paris Agreement are expected to fuel the deployment of HVCs for clean energy development projects, ultimately driving the high voltage cable market on an additional growth trajectory.

 

FAQs:

Q1) What are the different types of high voltage cables?

Submarine, underground, and overhead are different HV cable types.

Q2) What factors are fueling high voltage cable adoption?

The growing infrastructure activities, high power demand, and development in emerging nations fuel the adoption of high voltage cables globally.

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District Heating Market Trends: Insights and Forecasts

The district heating market provides efficient and environmentally-friendly heating solutions to the commercial and residential sectors. District heating systems utilize steam or hot water that is generated at a centralized location and distributed through a system of insulated pipes for space heating, water heating and process heating requirements. Key advantages of district heating include high efficiency from cogeneration of heat and power, reduction in primary energy consumption and carbon emissions compared to individual heating systems. The global district heating market is estimated to be valued at US$ 50.8 Bn in 2024 and is expected to exhibit a CAGR of 1.5% over the forecast period 2023 to 2030. Key Takeaways Key players operating in the district heating market are Vattenfall AB, SP Group, Danfoss Group, Engie, NRG Energy Inc., Statkraft AS, Logstor AS, Shinryo Corporation, Vital Energi Ltd, Göteborg Energi, Alfa Laval AB, Ramboll Group AS, Keppel Corporation Limited, FVB Energy. District heating demand is growing significantly across European countries due to strict emission norms and rising focus on efficient and clean heating solutions. Major players are expanding their district heating infrastructure and investments globally especially in Asia Pacific region to tap the growing demand for space and process heating from the industrial and commercial sectors. Market key trends One of the key trends in the district heating market is the increasing use of renewable and waste heat sources. With growing emphasis on reducing carbon footprint, district heating system operators are increasingly utilizing renewable energy sources like geothermal, solar, biomass along with waste heat from industries and data centers for cogeneration of heat and power. This is helping reduce the carbon intensity and primary energy consumption of district heating networks significantly. Vattenfall, Engie, Fortum are some leading players investing heavily in modernizing existing networks and designing new district heating systems based on renewable and waste heat resources to meet sustainability goals.

Porter’s Analysis

Threat of new entrants: The district heating market requires high initial investments to set up the infrastructure which acts as a deterrent for new players. However, some local level players can emerge in future. Bargaining power of buyers: The bargaining power of buyers is moderate as switching costs are high for customers who have already invested in district heating systems. However, alternative heating sources provide competition. Bargaging power of suppliers: A few large multinational companies dominate the supply of key equipment and components for district heating infrastructure. This gives them significant influence over prices. Threat of new substitutes: Alternate decentralized heating sources like gas boilers, heat pumps etc. pose a threat. However, district heating is more environment-friendly and gains support through policies in many countries. Competitive rivalry: The market sees healthy competition among the top players. Players compete based on technology, quality, reliability and pricing. Geographical regions with high market concentration

Europe accounts for the largest share of the district heating market, both in terms of value and volume. Countries like Germany, Poland, Sweden, Finland etc have a well-established district heating infrastructure. They have supportive policies and regulations in place to encourage the shift from fossil fuels to renewable sources for district heating. Fastest growing region

The Asia Pacific region is expected to grow at the fastest pace during the forecast period. Rapid urbanization and infrastructure growth is driving the demand. Countries like China, Japan and India are investing heavily in renewable energy-based district heating to meet their carbon reduction goals. Supportive government policies and norms in the region are boosting the adoption of new projects.

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Unconventional Gas Market Size, Share and Growth Report 2031

The Insight Partners is offering qualitative and informative market understanding by adding market research titled “Unconventional Gas Market Size, Trends, and Outlook to 2031”. The report focuses on the factors influencing growth, major players, and regional trends. The research offers a calculative assessment of recent developments adhering to prospects such as regions, key segments, and opportunities.

Comprehensive Overview: This chapter focuses on an overview of the entire report including market size, segmentation, and key regions. Trends, growth drivers, and challenges are added to create a holistic understanding of the Unconventional Gas market.

Market Executive Synopsis: This segment underscores the key investigations, market growth rate, Unconventional Gas market size, market drivers, patterns, and issues notwithstanding the visible pointers.

Market Study Coverage: It incorporates key market portions, key makers covered, the extent of items offered in the years considered, worldwide Unconventional Gas Market, and study destinations. Also, it contacts the division study given in the report based on the sort of item and applications.

Market Production by Region: The report conveys information identified with import and fare, income, creation, and central participants of all provincial business sectors contemplated are canvassed in this segment.

Market Profile of Major Players: Analysis of each market player profiled is itemized in this segment. This portion likewise gives a SWOT examination, of items, creation, worth, limit, and other crucial elements of the individual player. Established market players are leveraging their extensive resources and industry excellence to offer advanced offerings. The tactical approaches used by market leaders are added under this section to assist companies in strengthening their market positions.

The report encompasses recent developments and technological upgrades contributing to future market growth. The report combines historical data and provides a comprehensive market evolution over time. Insights under this report are supported by relevant visuals such as bar graphs, pie charts, statistics, and comprehension. An all-inclusive evaluation of the parent market presented in this report intends to help businesses recognize their broader business dynamics.

Report Scope:

Report Attributes

Details

Segmental Coverage

By Type

Shale Gas

Tight Gas

Coalbed Methane (CBM)

End User

Industrial

Residential

Commercial

Geography

North America

Europe

Asia Pacific

and South and Central America

Regional and Country Coverage

North America (US, Canada, Mexico)

Europe (UK, Germany, France, Russia, Italy, Rest of Europe)

Asia Pacific (China, India, Japan, Australia, Rest of APAC)

South / South & Central America (Brazil, Argentina, Rest of South/South & Central America)

Middle East & Africa (South Africa, Saudi Arabia, UAE, Rest of MEA)

Market Leaders and Key Company Profiles

BP p.l.c.

Chevron Corporation.

Emerson Electric Co.

Exxon Mobil Corporation

General Electric

Halliburton

NOV Inc.

Schlumberger Limited.

TechnipFMC plc

TotalEnergies

Other key companies 

Key Takeaways from This Report

Market CAGR, current value (in USD), estimated value (in USD), and projected duration.

Dominant Market Segments and Regions

Key market players and their recent strategies

Demand Drivers, Growth Opportunities, Market Restraints, and Trends

Consumer behavior and application scope

Why The Insight Partners?

Proven Expertise: The Insight Partners comprises expert market research analysts who have extensive industry-specific knowledge. Through this report, our team is bringing years of experience to the table while safeguarding the accuracy of insights.

Actionable Insights: The Insight Partners relies on a combination of primary and secondary research methodologies that drive tangible results. We are committed to keeping our offerings clear, accessible, and concise to guide businesses in the decision-making process.

Integration of Technology: We embrace technology in all its forms as the core of our research tactics. We use various tools and platforms to analyze and interpret the data. This allows timely results.

About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us: www.theinsightpartners.com

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Next Generation Energy Storage Market - Forecast (2024 - 2030)

The Next Generation Energy Storage market size in 2021 is estimated to be $18.5 billion and is projected to reach $34.9 billion in 2027 at a CAGR of 9.18% during the forecast period 2022-2027. Energy storage is the pivotal technology that is reshaping the energy sector by enabling widespread deployment and grid integration of solar and wind renewables, to accommodate optimum levels of renewable energy. Therefore, to overcome intermittency and availability issues, various industrial sectors, such as Transportation, Oil and Gas, Mining, Electronics and others are adopting technological advances to improvise the economics of energy storage, which eventually propels the Next Generation Energy Storage Systems Market. Furthermore, research and innovation in energy storage is rapidly evolving due to the rise of decentralized and renewable energy solutions, emergence of energy conversion efficiency, cost effective technology, introduction of materials with low environmental and social impact and others are projected to foster the growth of the Next Generation Energy Storage Systems, dynamically.

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Next Generation Energy Storage Market Report Coverage

The report: “Next Generation Energy Storage Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Next Generation Energy Storage industry.

By Device: Ultracapacitors, Energy Grids, Batteries, Fuel Cells, Flywheels, Pumped Storage and  Others. By Application: Electronics, Oil and Gas, Transportation, Military, Marine, Mining, Manufacturing, Residential and Others. By Geography: North America (U.S, Canada, Mexico), South America (Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).

Key Takeaways

The Next generation energy storage systems refers to the integration of renewable energy generation into the grid, for relatively large loads across periods extending up to the extended hours. The deployment of the innovative devices, such as Energy grids, Ultracapacitors, Batteries, along with the automation tools, such as smart inverters, physical sensors and advanced analytics are coordinating across a wider range of next-generation technologies.

The rising grid expansion and promising investment in advanced infrastructure across Mining, Manufacturing, Oil and Gas, Electronics and other industrial sectors are estimated to drive the market. In addition, the introduction of regulations for green energy, and rising demand in the energy efficiency promote the Next generation energy storage systems market. 

The prominence of renewable energy investments by the major companies, including Beckett Energy Systems, Lockheed Martin Corporation, BYD Company Limited, FlexGen Power Systems and more, along with  increasing electrification of the transport sector are denoting profitable opportunities for the growth of Next generation energy storage systems market in the forecast period.

Next Generation Energy Storage Market Segment Analysis – By Type

The market for Next Generation Energy Grid Energy Storage Systems is analysed to grow at highest CAGR of 10.9% during the forecast period 2022-2027. There are growing research and development in terms of electricity storage for applications, such as Grid support, Electricity supply, Ancillary services, Renewables integration and more is considered as a prime success factor in increasing the market prominence of energy storage technologies. Presently, the lithium-ion and lead-acid batteries are becoming popular for residential users, and sodium-sulphur and other breakthrough batteries are majorly deployed in commercial sectors. The leading companies such as Beckett Energy Systems, BYD Company Limited, Energ2, Inc., Enersys, Enphase Energy, FlexGen Power Systems, Lockheed Martin Corporation, S&C Electric Company, UniEnergy Technologies, LLC. And AES Corporation played a significant role to accelerate the Next Generation Energy Storage Systems Market growth through extensive research and developments activities for product innovation

Next Generation Energy Storage Market Segment Analysis – By End Use Industry

The Transportation is estimated to be $ 4669.99 Million in 2021 and is analyzed to grow at a CAGR of 10.77% during forecast period 2022 to 2027. The Electric vehicles are the solution for this problem. However, there are many challenges like the less availability of charging stations. To overcome and fix these issues, what we need is efficient next generation energy storage system for electric vehicles which can store more energy and in efficient manner, thus longer running time of vehicles with one time charging. The serious growing issue of climate change needs adoption of sustainable Transportation system. Because the way the demand of vehicles on road is increasing, and with the expected growth rate of usage of vehicles, the peak oil demand could be reached very soon. With this they are ideal for use in short-distance electric vehicles such as taxis, trams and buses where the capacity to charge it is the time it takes for passengers to exit and enter a vehicle. Now virtually all automakers are offering plan to offer or are already offering fully electric vehicles or at least hybrid models.

Researchers from Imperial College London and University College London (UCL) are working towards creation of low-cost, high-energy supercapacitors which can power electric vehicles, and they have produced cheaper energy-dense electrode which is more sustainable and energy efficient and can make the way for wider market of high-power and rapid vehicle charging. In November 2019, Ford Unveiled its all Electric vehicle, which was part of company’s 11 Billion plan to make 40 all electric and hybrid models by 2022. Volkswagen as well has increased its electric vehicle goal to 70 new models by 2028 with the earlier target of 50. In April 2021, BYD announced the launch of the Electric vehicles, the BYD’s sedan HAN EV with the Blade Batteries. The first batch of Electric vehicles launched across Mexico, Brazil, Uruguay, Columbia, Costa Rica, the Dominican Republic and the Bahamas. The e6 is equipped with the Blade Battery abd comes with a range of 605 kilometers with 100km/h acceleration.