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Off Grid Solar Market - Market Insights and Key Trends
The global off-grid solar market size was valued at $1.9 billion in 2021, and is projected to reach $5.8 billion by 2031, growing at a CAGR of 12.3% from 2022 to 2031.
The key players profiled in this report include ABB Ltd., Schneider Electric SE, Canadian Solar, Engie, SMA Solar Technology ag, Jinko Solar Holding Co. Ltd, SunPower Corporation, Delta Electronics, Greenlight Plant, and Hanwha Group.
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Off-grid solar refers to a system that generates electricity from solar energy and operates independently of the traditional power grid. It is designed to provide electricity in areas that are not connected to the main utility grid or in situations where individuals or villages choose to be self-reliant and not rely on the grid.
The off-grid solar system prices have decreased significantly over time because of technology advancements and economies of scale. These systems provide a more affordable option than building out network infrastructure in remote locations, which may be quite expensive. Off-grid solar power makes decentralised electricity generation more economical since it does not require significant transmission and distribution networks. Off-grid solar system prices have decreased significantly due to developments in power electronics, batteries, and solar panel technology.
Off-grid solar systems are becoming more affordable owing to technology advancements and economies of scale, which make them a viable option for decentralised energy production. All these factors projected to drive the growth for offgrid solar market forecast period.
Off-grid solar allows for decentralized energy generation, reducing dependence on centralized power plants and transmission lines. This decentralized approach enhances energy resilience and reduces the risk of power outages, especially in areas prone to natural disasters or with unreliable grid infrastructure. These factors are anticipated to boost off-grid solar market opportunities in the upcoming years.
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It is designed to provide electricity to homes, businesses, or other structures that are not connected to a centralized power distribution network. The major parts of an off-grid solar system include solar panels, batteries, charge controllers, and inverters. Solar panels convert sunlight into electricity, which is then stored in batteries for use at some point of durations when there is no sunlight available. The charge controllers regulates the charging and discharging of the batteries, making sure of their longevity.
The market for off-grid solar is influenced with the increasing demand for off-grid solar systems as a realistic and sustainable solution for energy access and rural electrification. Off-grid solar structures have indeed been less costly due to declining costs of solar photovoltaic (PV) technology. These structures eliminate the need for widespread grid infrastructure and associated transmission and distribution costs, making them a reasonably-priced alternative for remote areas. The development of modern off-grid solar technologies, such as expanded photovoltaic (PV) panels , electricity storage systems, and environmentally friendly appliances, has contributed to the
expansion of the off-grid solar market.
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Affordability continues to be a significant barrier to the widespread adoption and growth of the off-grid solar market. While off-grid solar systems offer a clean and reliable source of electricity for remote and underserved areas, the upfront costs associated with purchasing
and installing these systems can be a challenge for many individuals and communities. The price of solar panels, batteries, inverters, charge controllers, and other elements needed for off-grid solar systems can be substantial. These prices can be a significant barrier, especially for individuals and groups with constrained financial resources. In addition to equipment costs, there are charges related to the installation of off-grid solar systems.
There is a rising demand for clean power which is expected to create substantial possibilities for the off-grid solar market expansion. These systems commonly consist of solar energy panels, batteries for electricity storage, and inverters to convert the captured power into usable electricity. Off-grid solar presents a sustainable and environmentally friendly alternative to common strength sources like coal and oil. Solar energy is a renewable resource that produces electricity without generating greenhouse gas emissions or contributing to air
pollution. By opting for off-grid solar systems, individuals and groups can minimize their carbon footprint and contribute to mitigating climate change.
Impact of COVID-19 on the Global Off-Grid Solar Industry
The COVID-19 pandemic has had a significant impact on the off grid solar market. The off-grid solar market heavily relies on global supply chains for components and materials. The pandemic caused disruptions in manufacturing, transportation, and logistics, leading to delays in the production and delivery of solar products. This created challenges for companies in meeting customer demand and project timelines.
The economic impact of the pandemic affected access to financing for off-grid solar projects. Many investors and financial institutions became cautious, leading to a decline in funding availability. This affected the growth of the off-grid solar sector, particularly in emerging markets where access to finance is already a challenge.
Off-grid solar systems demonstrated their resilience during the pandemic. They provided reliable electricity in areas where grid power was disrupted or unreliable. This resilience and adaptability helped maintain critical services and support healthcare facilities, vaccine storage, and telemedicine initiatives.
The pandemic and subsequent lockdown measures led to a surge in energy demand as people spent more time at home. Off-grid solar systems offered a reliable and sustainable energy solution for those without access to grid electricity, leading to increased interest and demand for off-grid solar products. On-site installations and maintenance activities have been affected, hindering the growth of the off-grid solar market during the pandemic.
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Solar Battery Market : Global Industry Analysis and Forecast
Global solar battery market size was valued at $113.4 million in 2019, and is projected to reach $360.4 million by 2027, growing at a CAGR of 15.5% from 2020 to 2027.
The global Solar Battery market analysis profiles leading players that include , BAE Batterien GmbH, EnerSys, Loom Solar, Alpha Technologies, Inc., A123 Systems LLC, Tesla, CATL, Panasonic, BYD Co. Ltd., LG.
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Solar battery is generally used to store solar power and discharge the power as per requirement. It is made of lithium ion or lead acid. It is rechargeable and can be generally used in solar cell systems to store excess energy. Some of the major applications of solar battery include solar charging stations, storage for power plants, and storage system for off-grids.
Growing demand for sustainable energy storage solutions is the major factor driving the solar battery market growth. As governments across the globe are promoting sustainable energy sources, the demand for solar power battery is expected to increase over the projected timeframe. The application of solar battery can effectively reduce the demand for coal, oil, and other imported fossil energy resources.
Based on type, lithium ion battery emerged as the market leader in 2019. This is attributed to high charge and discharge efficiencies of lithium ion batteries, which help in harvesting large amount of energy. For instance, the average efficiency of lithium ion battery is 90- 95%, whereas for lead acid it is around 80-85%. Based on end-users, industrial segment accounted for the highest revenue share in 2019.
This is attributed to strong demand from various industrial end-users for additional energy storage solutions. Moreover, new incentive and tax credit schemes from governments are expected to further attract new end-users in this sector.
Global solar battery market size was valued at $113.4 million in 2019, and is projected to reach $360.4 million by 2027, growing at a CAGR of 15.5% from 2020 to 2027. Solar battery is generally used to store solar power and discharge the power as per requirement. It is made
of lithium ion or lead acid. Solar battery is rechargeable and can be generally used in solar cell systems to store excess energy. Some of the major applications of solar battery include solar charging stations, storage for power plants, and storage system for off-grids.
Significant surge in demand for eco-friendly and cost-effective energy solutions for industrial and commercial energy storage is expected to drive the market growth. Moreover, it is highly effective to reduce carbon footprint. As governments across the globe are promoting sustainable energy sources, the demand for solar battery is expected to increase during the projected timeframe. The implementation of solar battery in the residential and commercial sectors makes them energy independent and increase the self-reliance of the owner. In residential areas, it can reduce the usage of grid power in small-scale applications.
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Moreover, countries, such as the UK and Portugal, are encouraging capacity auctions for solar battery storage. Such developments will positively impact the market growth. However, the initial installation cost and high maintenance cost of solar battery are the major challenges for industry players. At the current stage, solar battery storage is highly dependent on government tax credit and subsidy schemes. In addition, the system’s water must be changed daily and the water must be distilled water. Attributed to such factors, the application of solar battery is limited for small residential areas.
The global solar battery market is segmented on the basis of type, end-user, and region. On the basis of type, it is divided into lead acid, lithium ion, flow battery, and others. Based on end-user, the market is classified into industrial, commercial, and residential. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific accounted for the highest revenue share in 2019, owing to rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding renewable energy storage. This is expected to drive the solar battery market growth. Moreover, China being the largest producer of solar power will positively influence the demand for solar battery in this region.
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The lithium ion segment accounted for highest revenue share in 2019. This is attributed to high charge and discharge efficiencies of lithium ion batteries, which help in harvesting large amount of energy. For instance, the average efficiency of lithium ion battery is 90- 95%, whereas for lead acid it is around 80-85%. The industrial segment accounted for the highest revenue share in 2019. This is attributed to strong demand from various industrial end users for additional energy storage solutions. Moreover, new incentive and tax credit schemes from governments will further attract new end-users in this sector.
COVID-19 scenario analysis
The global solar battery market had immediate impact of COVID-19 due to social distancing norms and shortage of manpower. These led to delayed installations and cancellation of new projects.
In addition, the sharp decline in consumer expenditure highly affected the demand. Reduced expenditure of consumers during the lockdown highly impacted the solar battery market for solar products, including various solar storage systems.
Moreover, the upstream and downstream channels have been affected due to restrictions on movement, which lead to increase in the amount of inventories.
Furthermore, high dependency on Chinese exports for solar cell, solar battery, and solar module negatively impacted the market. India imports around 80% of its solar products from China. As the manufacturing firms in China were idle for the last 6-7 months, it highly impacted the production process in India.
However, shifting trend toward remote working is considered a vital solution to improve the solar battery market conditions. Various automation companies utilize remote connectivity to ensure the access to field operators and service engineers who cannot be on site at this time.
These companies are providing control room lives treams, process data, operational insights, and plant key performance indicators to users sheltering at home. Such developments are expected to provide new market opportunities in post COVID-19 period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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AI in Energy Market :The only Guide you Need
The global artificial intelligence (AI) in energy market size was valued at $4.0 billion in 2021, and is projected to reach $19.8 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031
The global artificial intelligence in energy market analysis profiles leading players that include, ABB ltd., Accenture plc, Amazon Web Services Inc., Autogrid Systems, Inc., C3.ai, Centrica plc, Cisco Systems Inc., General Electric, HCL Technologies, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Mitsubishi Electric and Schneider Electric, and Senseye.
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Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, and speech recognition and machine vision. Every industrial environment needs artificial intelligence .
Artificial intelligence industry is capable of carrying out these crucial judgments in the most effective way possible, which calls for the immediate collection and analysis of these massive volumes of data. Artificial intelligence gives a machine the capability to learn and make choices in order to solve issues or improve outcomes in order to achieve a goal. In addition, electric vehicles are the way of the future, but they also come with new difficulties. AI is now being installed in the electric vehicle sector within cars themselves in order to manage it and transmit information that contributes to solving these challenges, but also outside the car to facilitate the effective management of reports, intelligent mobility solutions, etc. Artificial intelligence is attempting to be used in the energy sector and is already proving essential by providing the market and households with new information services in the control over energy infrastructure, optimizing generation, reducing consumption, or fighting climate change, which are only some of the promises it holds in the coming years.
Artificial intelligence (AI) is an extent of computer technology that emphasizes the formation of intelligent machines which works and reacts such as humans. In addition, considering advanced technologies, it creates significant changes and effects of AI technology in the energy and utility market that can be seen in their applications such as smart automated grid and energy distribution system.
Smart grids transport data in addition to power. Effectively balancing consumption and generation is crucial when dealing with intermittent and unstable sources such as solar and wind. One of the expectations for artificial intelligence applied to the energy sector is that it can help with climate change, emission-reduction effects of technological progresses in industry, energy balances, and environmental impact
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During the forecast period, it is anticipated that the rapid modernization of energy in developing nations would increase the use of AI solutions in energy systems. During the forecast period, it is anticipated that the high cost of AI solution deployment in the energy sector
is expected to impact the AI in energy market growth It is anticipated that a lack of technological expertise within the energy industry employees in developing nations will hamper market expansion.
The artificial intelligence in energy market forecast is segmented on the basis of component type, deployment type, application, end user, and region. On the basis of component type, it is classified into solutions and services. By deployment type, the market is categorized into
on-premise and cloud. On the basis of application, the market is fragmented into robotics, renewables management, demand forecasting, safety & security, infrastructure, and others. On the basis of end user, it is divided into energy transmission, energy generation, energy distribution, and utilities. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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The global artificial intelligence in energy market analysis profiles leading players that include, ABB ltd., Accenture plc, Amazon Web Services Inc., Autogrid Systems, Inc., C3.ai, Centrica plc, Cisco Systems Inc., General Electric, HCL Technologies, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Mitsubishi Electric and Schneider Electric, and Senseye.
By component type, the services segment was the highest artificial intelligence in energy market share, at a significant CAGR of 17.7% during the forecast period.AI services also support the integration of AI solutions into core business functions and processes. For AI for marketing, helping companies get more out of their marketing spend using data; AI for processing, helping companies process information or data more efficiently; and AI for customer engagement, improving customer service for companies with tools such as AI chatbots .
By deployment type, the cloud segment was the highest revenue contributor to the market with a CAGR of 17.6%. the energy industry is increasingly adopting cloud-based AI technologies to improve the capabilities of current systems. Furthermore, the emergence of AI-as-aservice (AIaaS) is trending among numerous industries users of AI, as it allows individuals and businesses to access AI for various applications without large initial investment and with a lesser risk of failure.
By application, the safety and security segment is the highest revenue contributor to the market,with a CAGR of 18.0%. AI and the appropriate sensors can be helpful to monitor equipment and discover faults before they happen in a sector where equipment failure is widespread and can have serious implications.
By end user, the utility segment was the highest revenue contributor to the market ,with a CAGR of 17.9%. AI facilitates Energy & Utility companies in the prediction of the market price of electricity/gas, proper planning and scheduling, enabling optimization of the energy price, creating a smart warehouse, maintenance of inventories, managing shipping operations for replacing assets, risk hedging, and improved delivery times & reduction in overall costs
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Transformer Oil Market Trends and Research Insights by 2030
The global transformer oil market size was valued at $2.3 billion in 2020 and is projected to reach $4.3 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.
The key players operating in the global transformer oil market are Neste, Petronas, Sinopec Lubricant Company, Royal Dutch Shell, Exxon Mobil Corporation, Total SE, Chevron Corporation, Exxon Mobil, Repsol, and Gulf Oil International.
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Rise in power consumption, increase in investment in the power sector, and expansion of electrical grids in developing countries are the major factors driving the growth of the global transformer oil market. In addition, rapid industrialization and modernization in the electrical grids supplement the demand for power transformers, which, in turn, is expected to increase the consumption of transformer oil. Depending on the type, the Paraffinic Oil segment garnered the highest market share of in 2020, and is expected to maintain its dominance during the forecast period. This is attributed to rise in demand for transformer oil from electric utilities such as transmission system, power plants, and other industrial applications.
On the basis of end use, the power transformer segment held the largest share in 2020, in terms of revenue, and is expected to maintain its dominance during the forecast period.
This growth is attributed to rapid expansion of heavy industries & projects such as dams, power plants, power grids, refineries, and mills, which further increases the installation of power transformers in these applications.
On the basis of application, the industrial segment garnered the largest share in 2020, in terms of revenue, and is expected to grow at a CAGR of 6.1%, owing to rise in installation of standalone power generation systems in industrial applications attributable to varying loads and power demand in industrial applications.
The global transformer oil market analysis is segmented into type, function, end use, application, and region. Depending on type, the market is categorized into naphthenic oil, paraffinic oil, silicone-based oil, bio-based oil, and others. On the basis of function, it is segregated into insulator, cooling agent, lubricant, and chemical stabilizer. Depending on end use, it is classified into small transformer, large transformer, utility transformers, distribution transformers, power transformers, and others. The applications covered in the study include residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Transformer Oil Market, By Type
By type, the Naphthenic Oil segment held the largest market share in 2020, owing to a rise in demand for transformer oil from electric utilities such as transmission systems, power plants, and other industrial applications. In addition, advantages associated with mineral oil such as high thermal, oxidation durability, cost-effectiveness, and easy availability are anticipated to fuel the growth of the global transformer oil market in the coming years.
Transformer Oil Market, By Function
On the basis of function, the insulation segment dominated the global market in 2020, in terms of share, owing to the rise in demand for transformer oil to insulate high-voltage electrical infrastructures such as transformers, capacitors, switches, and circuit breakers applications in electric utilities. It is majorly used as insulation between windings and other parts of the transformer, owing to its high dielectric strength, enough viscosity level, temperature flexibility, and other advantages.
Transformer Oil Market, By Region
Asia-Pacific garnered the highest share in the transformer oil market in 2020, in terms of revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the presence of huge consumer base, rapid development of the renewable energy sector, expansion of high-voltage direct current (HVDC) system networks, and the existence of key players in the region. Moreover, presence of the high-power consuming countries such as China, Japan, and India are anticipated to contribute toward the growth of the market in the region.
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Transformer Oil Market, By End-use
By end-use, the small transformer segment garnered the highest market share in 2020. This is attributed to the extensive use of these systems to meet the increasing needs for electricity in rural areas. Rising power demands will increase the installation of transformers
which in turn increase the demand for Transformer oil.
Transformer Oil Market, By Application
On the basis of application, the industrial segment exhibited the highest market share in 2020. This is attributed to rise in installation of standalone power generation systems in industrial applications, owing to varying loads and power demand in the industrial applications. In addition, rapid growth of industries such as building & construction, chemicals, oil & gas, and railways resulted in rise in demand for transformers, which, is turn, is expected to drive the growth of the market during the forecast period.
Covid-19 Impact On The Market
Lockdown imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries and electrical utilities, which decreased the demand for electricity from these consumers. In addition, halt in building & construction of new electric utility infrastructures, renewable power plants, grid network, and other power plants, owing to unavailability of workers and increase in demand–supply gap are projected to hamper the market growth during the pandemic period. This resulted in decline in market growth in the second, third, and fourth quarters of 2020. However, the transformer oil market is expected to recover by the second quarter of 2021, as COVID-19 vaccination has begun in various economies across the globe, which is expected to improve the global economy.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Concentrated Solar Power Market Poised for a significant with a CAGR of 10.3%
The global concentrated solar power market was valued at $ 3,793.0 million in 2018 and is projected to reach $ 8,046.7 million by 2026, growing at a CAGR of 10.3% from 2019 to 2026. The MEA region accounted for nearly 21.0% market share in 2018.
The key players contributing in the global concentrated solar power market growth include Abengoa, Acciona, SolarReserve, BrightSource Energy, ACWA Power, GE Energy, Suntrace, SCHOTT, Frenell GMBH, and Siemens.
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CSP is generated in plants that utilize mirrors to focus the sun's energy on panel to create electricity or drive traditional steam turbines or engines. The thermal energy focused in a CSP plant can be used and stored to produce electricity when needed. Growing government support to adopt renewable technologies is expected to boost the demand for concentrated solar power plant.
Growth in environmental issues based on carbon emissions results in focus to decrease air pollution. This in turn raise demand for renewable energy such as solar energy. Thus, these factors are also anticipated to support the expansion of the market. However, high cost experienced during Concentrated Solar Power energy production restraints the market growth during the forecast period.
The report segments the concentrated solar power market on the basis of technology, end user industry, and region. Based on technology, the market is divided into parabolic trough, solar power tower, Fresnel reflectors, and dish Stirling. Based on technology, the parabolic trough segment dominated the market in 2017, owing to growing demand of electricity generation from parabolic trough technology.
In addition, China is actively boosting the growth of the market to cope up with its severe pollution problems and develop its domestic manufacturing industry. Furthermore, availability of low labor has led to increase in energy production through concentrated solar power, which fuels the growth of the market.
Concentrated solar power energy is generation of electricity via mirrors to concentrate the sunrays to the temperature varying between 400 and 1,000 °C. This energy is then usually employed in various applications such as heating fluid, mainly water or oil, which in turn produces steam or hot air. The steam produced is used to drive turbines connected to a generator to generate electricity. There are different types of mirror shapes and sun-tracking methods to provide useful energy, but all of them work under a same principle of driving a heat engine to generate electricity that can then be fed into the grid.
The report segments the concentrated solar power market on the basis of technology, end user industry, and region. Based on technology, the concentrated solar power market is divided into parabolic trough, solar power tower, fresnel reflectors and dish stirling. Parabolic trough is one of the earliest use technology in the concentrated solar power market. In parabolic trough technology the sun’s energy is concentrated by parabolically curved, trough-shaped reflectors onto a receiver pipe running along the inside of the curved surface.
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Global Concentrated Solar Power Market Size, By Region
Based on region, Europe accounts for major share in the global concentrated solar power market and MEA is attributed to be the fastest growing region. It is expected that the European Union’s total CSP capacity can reach as high as 5 GW by the year 2030. CSP activity is continued in Europe on a pilot scale, including the construction in France of a 9 MW Fresnel facility, and the construction in Denmark of a hybrid biomass-CSP facility incorporating 17 MW of CSP.
Global concentrated solar power market share, by technology
Based on technology, the Parabolic trough technology segment dominated the market in 2018. Parabolic trough is one of the oldest technologies used to generate electricity from concentrated solar power. All parabolic trough plants used presently are "hybrids," and they utilize fossil fuel to supplement the solar output during low solar radiation periods.
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Global concentrated solar power market share, by end user industry
Based on end use industry, the industrial segment is expected to grow with the highest CAGR during the forecast period. The temperature of the thermal oil or other heat transfer fluid flowing is increased from 293ºC to 393ºC through the pipe, and the heat energy is then used to generate electricity in a conventional steam generator. On the basis of end user industry, the concentrated solar power market is classified into residential, commercial, and industrial. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Shale Gas Processing Equipment set for Significant Growth
The global shale gas processing equipment market size was valued at $4.5 billion in 2018, and is projected to reach $13.5 billion by 2026, growing at a CAGR of 14.8% from 2019 to 2026.
The major key players operating in the global shale gas processing equipment industry include Schlumberger Ltd, Sivalls, Inc, Van Air Systems, Croft Production Systems, Inc., Koch Industries, Inc., Pall Corporation, PEMCO, Burckhardt Compression AG, Gas Processing Equipment, and ATB Riva Calzoni S.p.A.
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Shale gas equipment are used to eliminate components such as N2, H2S, heavy hydrocarbons, CO2, and water from the raw shale gas and oil before it is sent for transportation. This method includes various processes such as distillation, filtration, cracking, reheating, pyrolysis, and chemical treatment.
As per the U.S. energy information administration, the global shale gas industry surpassed more than $200 billion revenue in 2018 and as per their estimates it is anticipated to generate more than $390 billion revenue by 2025. Shale gas and oil infrastructure and markets for their related products, more specifically, processing equipment, altogether are heading toward their growth expansion phase as whole.
Due to abundant shale gas reserves, its infrastructure expected to grow significantly over the next decade. Hence, processing equipment is expected to have a promising future over the years to come
The U.S. reported shale gas production of over 37 billion cubic feet following Mexico and China at over 5 and 2.1 billion cubic feet respectively in 2015. As per the estimates of U.S. Energy Information Administration, the U.S. anticipated to produce over 80 billion cubic feet of shale gas by offering a scope to huge technological investment along with processing equipment manufacturing.
Equipment used in the shale gas processing are known as shale gas processing equipment. Popularly known equipment used in the shale gas processing include compressors & pumps, electrical machinery, heat exchangers, internal combustion engines, measuring & controlling devices, and others. Apart from these, the others segment includes separators & filters, hydrator/glycol dehydrator, injection systems, and storage tanks. These equipment are used in the midstream phase of the oil & gas industry, wherein, gas/shale gas is processed, refined, and treated before it is transported for commercial usage.
Abundance shale gas reserves in some of the geographies across the globe and its commercial exploitation is the major factor and it has an immense impact on the global market growth. In response to the increasing natural gas prices, oil & gas industry seeks an alternative
to natural gas resources at economic terms. Shale gas is nothing but a natural gas trapped within a shale formation whose reserves are spread almost all across the globe.
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Heat exchanger is important equipment used in the overall gas processing plants. Technological evolution of heat exchangers is further contributing in the global shale gas processing equipment market growth. On the other hand, environmental hazards associated with hydraulic fracturing is the major restraining factor hampering the growth of the global shale gas processing equipment market. Nevertheless, growing initiatives from government from various geographies is anticipated to offer new growth opportunities over the forecast period.
The global shale gas processing equipment market is segmented on the basis of component and country. On the basis of component, the global market is studied across compressors & pumps, electrical machinery, heat exchangers, internal combustion engines, measuring & controlling devices, and others. Others segment includes separators & filters, hydrator/glycol dehydrator, injection systems, and storage tanks. Compressor and pumps is the largest segment among all and its growing demand is significantly expanding the global shale gas processing equipment market size.
Based on country, the global shale gas processing equipment market is studied across the U.S., Canada, China, Algeria, Mexico, Argentina, and others. The U.S. is the largest country level market among others due to abundant shale gas reserves and technically sound nature of the country, and investment in the shale gas exploration. Increased penetration of small-scale and mid-scale processing equipment manufacturers over large scale equipment manufacturers in the U.S. is one of the recent shale gas processing equipment market trend observed in recent years.
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The U.S. is the largest country level market among others. The U.S. is the first country that has undertaken successful commercial scale production of shale gas and is offering scope to gas processing equipment. Therefore, the U.S. has the dominant share in the global shale gas market and is expected to be the largest one during the forecast period.
Based on component, Compressors and pumps segment accounted for the largest market share in 2018 and is expected to be the largest segment by the end of the forecast period. Demand for compressors is mainly seen in the U.S. as it is the largest market for shale gas processing equipment. Gas processing capacity have expanded in most of plants located in the U.S. as a result of increasing shale gas production. Hence, demand for compressors is rising in the U.S.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Solar Panel Cleaning -Industry Analysis, Size, Share, Strategies and Forecast to 2031
The global solar panel cleaning market size was valued at $0.6 billion in 2021, and is projected to reach $1.1 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.
Key players in the Solar Panel Cleaning industry are AX System, Clean Solar Solutions Ltd., Ecoppia,
Ecovacs, Enel Green Power S.p.A, Heliotex, IP Cleaning Srl, Indisolar Products Private Limited, Parish Maintenance Supply, Pacific Panel Cleaners, LLC., Premier Solar Cleaning, SCM Solar, Sharp Corporation, Serbot AG, and Saint-Gobain Group.
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The energy from the sun is captured by a solar panel or photovoltaic solar panel, which then produces electricity to be used in end-use industries. For effective operation, these panels must be cleaned. In regions with heavy rainfall, solar panel cleaning can be delayed; but in dry regions, solar panel cleaning is indispensable.
The market is primarily driven by the expanding global demand for energy, growing environmental awareness, and depletion of fossil fuels. Developing countries are experiencing increase in consumption for solar energy. The use of solar energy is being promoted by governments across the globe.
Further, high cost of cleaning systems and installations, requirement of a large workforce, and consumption of water are some of the factors, which are limiting the growth of the solar panel cleaning market. Above mentioned factors are estimated to hamper the solar panel cleaning market growth. In addition, solar panel installation has been escalating as a result of the increased need for clean, sustainable energy, which is further fueling market expansion.
The solar panel cleaning market analysis is segmented on the basis of technology, process, mode of operation, application, and region. On the basis of technology, it is classified into wet cleaning and dry cleaning. By process, the market is categorized into semi-automated, automated, water brushes, electrostatic, and automated robotic.
Solar panel cleaning is a process that removes gathered components, such as dust, bird droppings and ashes from wildfires from the panel surface. This procedure is executed to restore power conversion capability of solar panels where accumulated particles act as a blockage between the sunlight and panels. Also, different approaches are used in the process for diverse applications due to their efficiency in enhancing power output and restoring module efficiency.
The rising emphasis toward panel efficiency optimization, followed by increasing renewable integration across the overall energy mix will favorably stimulate the business landscape. The adoption of the service is expected to be further fueled by strict environmental
regulations combined with advantageous government incentives and subsidies for the implementation of solar photovoltaic. The industrial landscape is expected to be positively impacted by the increased customer preference for environmentally friendly cleaning techniques as well as the deployment of cutting-edge technologies to remove accumulated particles effectively without damaging the modules.
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The solar panel cleaning market analysis is segmented on the basis of technology, process, mode of operation, application, and region. On the basis of technology, it is classified into wet cleaning and dry cleaning. By process, the market is categorized into semi-automated, automated, water brushes, electrostatic, and automated robotic. On the basis of the mode of operation, the market is classified into manual and autonomous. Based on application, it is divided into residential, commercial, industrial and utility, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
By technology, the wet cleaning segment was the highest revenue contributor to the market, with $441.4 million in 2021, and is estimated to reach $868.4 million by 2031, with a CAGR of 7.1%. Low unit cost, high reliability, and easy accessibility are key characteristics enhancing product demand.
By process, the semi-automated segment was the highest revenue contributor to the market, with $226.6 million in 2021, and is estimated to reach $448.7 million by 2031, with a CAGR of 7.1%. The semi-automated market segment will grow because of the ability to reduce high soiling rates, faster cleaning services, and minimal maintenance costs.
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By mode of operation, the manual segment was the highest revenue contributor to the market, with $440.9 million in 2021, and is estimated to reach $862.7 million by 2031, with a CAGR of 7.0%. Manual cleaning is practical for smaller installations of up to about 5,000 rooftop panels at office parks, shopping centers, industrial, educational and medical facilities, and others. It works best for rooftop installations, those that cover many buildings with various rooftop configurations.
IMPACT OF COVID-19 ON THE GLOBAL SOLAR PANEL CLEANING MARKET INDUSTRY
The installation of solar panels for electricity generation, which was strongly dependent on China and India, as well as the world economy both, suffered from the health crisis brought on by the spread of COVID-19. Due to supply chain interruption and a lack of raw materials, manufacturing units were forced to shut down during the lockdown, and, in turn, negatively impacted the solar panel cleaning equipment market statistics.
In addition, a labor shortage caused supply chain issues in the U.S., which was a dominating country in the solar panel cleaning market, as well as a national lockdown hampered industrial progress. Further, the disruptions to transport and logistics were affected due to strict government regulations as well as nationwide lockdown, which led to a significant pause in delivering the product, rising shipment cost and price of fuel, taxes, workforce, and disruptions to shipping facilities. However, it is anticipated that sales of solar panels for power generation will increase in the next years due to elements including supportive government policies and initiatives to fulfill expanding energy demand using renewable energy sources.
About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Gas Engine Market on Present and Future Growth Prospects
The global gas engine market size was valued at $4.2 billion in 2021, and gas engines industry is projected to reach $6.0 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031
Key players in the Gas Engine industry are Cummins Inc., Caterpillar, Mitsubishi Heavy Industries, Ltd., Rolls-Royce plc., Volkswagen AG, Wärtsilä, Kohler Co., Yanmar Co Ltd., Hyundai Heavy Industries Co., Ltd., China Yuchai International Limited, Siemens, Doosan Corporation, Cooper Corp., INNIO, Kawasaki Heavy Industries, Ltd., Man SE, and JFE Engineering Corporation.
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A gas engine is a type of heat engine. It is an internal combustion engine, which functions on fuels such as natural gas, landfill gas, biogas, propane. In addition, it also runs on gasoline and diesel. It provides excellent durability and drivability. This engine is more commonly utilized in automotive vehicles.
The demand for gas engines is rising in the power generation industry with new emission control regulations. The industrial sector, including chemicals, metals, and manufacturing industries, is a major contributor to the escalating demand for gas engines. The production of natural gas, which is required for the functioning of gas engines, is growing at a significant rate.
The global gas engine market forecast is segmented on the basis of by power output, fuel type, application, end use and region. On the basis of power output, it is segmented into 0.5-1MW, 1-2MW, 2-5MW, 5-15MW, and above 15MW.
Gas engines are less expensive, environmentally friendly, reliable, and efficient than engines based on other fuel sources, which is propelling their demand.
A gas engine is a reciprocating internal combustion engine, which primarily runs on natural gas and other special gases such as shale gas, mine gas, biogas, landfill gas, sewage gas, and syngas. These engines generally achieve more than 90% efficiency due to their high electrical and thermal efficiency, low operating and service costs, and high reliability. They are used for various applications including power generation, cogeneration, mechanical drive, and tri-generation applications, such as district heating schemes, hospitals, universities, or industrial plants.
The demand for gas engines is experiencing increase in the power generation industry with new emission control regulations. The industrial sector, including chemicals, metals, and manufacturing industries, is a major contributor to the escalating demand for gas engines. The production of natural gas, which is required for the functioning of gas engines, is growing at a significant rate.
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Gas engines are less expensive, environmentally friendly, and more reliable and efficient than engines based on other fuel sources. According to Eurostat, natural gas accounts for more than 25% of energy consumption in the U.S. Elevated use in applications such as heating, electricity generation, and vehicle functioning is bolstering the demand for natural gas engines.
During the COVID-19 situation, a large part of the population began working from home, virtually attending school from home, and enjoying entertainment at home. Hence, the utility service providers are using gas generators to manage peak loads, to provide a solution for unexpected power outages. Thus, a continuous surge in demand from developing and developed countries is one of the key factors driving the gas engine market growth.
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The gas engine market forecast is segmented on the basis of power output, fuel type, application, end use and region. On the basis of power output, it is segmented into 0.5-1MW, 1-2MW, 2-5MW, 5-15MW, and above 15MW. On the basis of fuel type, the market is bifurcated into natural gas, special gas, and others. On the basis of application, the market is divided into power generation, mechanical
drive, cogeneration, and others. In addition, on the basis of end use, the global gas engine market is segmented into marine, utilities, oil & gas, manufacturing, and others.
The natural gas segment dominates the global gas engine market. Natural gas is an odourless, gaseous mixture of hydrocarbons, predominantly made up of methane. Gasoline powered vehicles with spark ignited internal combustion engines. The engine functions the same way as a gasoline engine. Natural gas is stored in a fuel tank, or cylinder, typically at the back of the vehicle. Compressed natural gas is used as fuel source for the power generation. The increase in demand for power and the investment of the key players toward low emission and low cost power generation will drive the gas engine market.
The increase in demand for this equipment to safeguard the coast line and border among the developing & developed countries are expected to have positive impact on the market.
The presence of various advantages of gas engine for the utilization as a drive source for the submarine compared to the conventional engine is driving the growth of the market. Furthermore, increase in fuel efficiency and investment of key players to improve the design of the gas engine are projected to drive the market growth.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Micro Turbine Market to gain a Substaticial Growth to 2031
The microturbine market size was valued at $234.7 million in 2021, and microturbine industry is estimated to reach $547.9 million by 2031, growing at a CAGR of 8.9% from 2022 to 2031.
Key players in the microturbine industry are Capstone Green Energy Corporation, FlexEnergy Solutions, Brayton Energy, LLC, ICR Turbine Engine Corporation, Calnetix Technologies, LLC, Ansaldo Energia SPA, Bladon Microturbine, Microturbine Technology B.V., Toyota Turbine Systems, and TurboTech Precision Engineering Pvt. Ltd. These players have adopted various strategies to gain a higher share or retain leading positions in the market.
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Microturbine are small turbines that are used to generate electricity. The rising requirement and demand for low-emission energy generation are driving the expansion of the worldwide microturbine market. Furthermore, the growth in demand for clean and
green energy is propelling the worldwide microturbine market throughout the forecast period. Growing environmental concerns and pollution levels are driving up demand for microturbine in the global market. Furthermore, economic advancements are influencing the growth and development of the worldwide microturbine market.
Microturbine have various potential advantages over other small-scale power-generating technologies, including a minimum number of moving parts, compact size, lightweight, higher efficiency, reduced pollutants, cheaper energy prices, and the ability to use waste
fuels.
Microturbine are predicted to grab a substantial portion of the distributed generation industry because of their small size, cheap capital costs, likely low operations and maintenance expenses, and autonomous electronic control. Furthermore, microturbine provide an efficient and environmentally friendly answer to direct mechanical force markets such as compression and air conditioning.
However, changing oil prices are expected to limit business expansion in the future years. Crude oil prices have plummeted in recent years, significantly impacting market returns.
Furthermore, the existing dispersed generating equipment is expected to pose a significant barrier to market growth throughout the projection period.
Microturbine are small, fuel-burning turbines used in localized or mobile power generation and mechanical drive applications. A microturbine is a power generation system based on the combination of a small gas turbine and a directly driven high-speed generator. Microturbine are small in size and are used to generate electricity.
The rising requirement and demand for low-emission energy generation is driving the expansion of the worldwide microturbine market. Furthermore, the growth in demand for clean and green energy is propelling the worldwide microturbine market throughout the forecast
period. Growing environmental concerns and pollution levels are driving the demand for microturbine in the global market. Furthermore, economic advancements are adding to the worldwide microturbine market growth and development.
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Rising Use Of Microturbine In Combined Heat And Power And Standby Power Applications
The use of microturbine is rising rapidly in various applications such as in combined heat and power and standby power. Combined heat and power are the concurrent productions of electricity or mechanical power and useful thermal energy (heating and/or cooling) from a single source of energy. It has a wide range of applications in the industrial sector as it provides on-site power, and the microturbine power generation system must be available on the end-user site. Industrial was the leading end-user division as microturbine are widely used in various industries including oil & gas, construction & manufacturing, pharmaceutical, wastewater treatment, and mining.
The Transition to On-Site Energy Generation
The aging of developed countries' power infrastructure is predicted to drive demand for on-site microturbine-generating technology. Because of the remote placement of electricity-producing plants, developing nations are facing inadequate grid connection. Microturbine
are an excellent choice for on-site grid power generation in business and residential settings.
Microturbine are low-emission electric generators that offer on-site power-generating features such as dependability and cost[1]effectiveness. Reliability, personalized power demand, and lower power generating costs are important characteristics projected to drive microturbine usage in commercial and residential sectors. Because of the demand for low-cost on-site power generation, major
corporations and business units are investing in the technology. This is expected to fuel market demand for microturbine.
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IMPACT OF COVID-19 ON THE GLOBAL MICROTURBINE MARKET
The COVID-19 pandemic led to a decline in the demand for the microturbine market due to a decline in the demand for power generation across the globe. In addition, the portable power generation facilities have been in high demand during the pandemic outbreak which led to the demand for gas-based power generators. Furthermore, the outbreak of the pandemic has created awareness among the people regarding the advantages of the utilization of microturbine in renewable energy such as mini-hydro power plants, or rooftop wind power plant which has driven the growth of the global microturbine market.
About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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