Oilfield auxiliary rental equipment market is anticipated to grow at a CAGR of 5.3% during the forecast period (2024-2031). Oilfield auxiliary equipment are machines and instruments that are used to supplement the drilling process at oilfields. The equipment used less frequently on the oilfield are availed on rent by various oil extraction companies.
Membrane bioreactor market is anticipated to grow at a considerable CAGR of 7.6% during the forecast period (2024-2031). Membrane bioreactor (MBR) systems is a high-efficient wastewater treatment technology that uses a microbial process. The main applications of a membrane bioreactor (MBR) is in the treatment of municipal and industrial wastewater. It involves the combination of a suspended growth bioreactor and a perm-selective or semi-permeable membrane technique, such as microfiltration (MF) or ultrafiltration (UF).
Power engineering, procurement, and construction (EPC) market is anticipated to grow at a moderate CAGR of 4.6% during the forecast period (2024-2031). Demand for the power EPC market is anticipated to be driven in the long run by factors like rising electricity generation, rising energy consumption, and shifting dynamics within the power generation industry.
Failure analysis market is anticipated to grow at a considerable CAGR of 8.3% during the forecast period (2024-2031). Failure analysis helps in determining the most fundamental reason which caused the failure. By failure analysis, the root cause can be eliminated and can also prevent its recurrences.
DMFC market is anticipated to grow at a significant CAGR of 12.8% during the forecast period. The growing demand for renewable sources of energy globally to reduce carbon footprints is a key factor driving the growth of the global DMFC market. However, the high cost of the cell technology may restrain its market growth.
Lithium-air battery market is anticipated to grow at a CAGR of 7.2% during the forecast period. Considering recent developments, Lithium-air batteries represent a significant advancement in energy storage technology, in various sectors such as electric vehicles (EV), aircraft, and grid power. Unlike traditional lithium-ion batteries, which rely on internal metal oxides, lithium-air batteries utilize atmospheric oxygen, theoretically providing 5 to 10 times higher energy density.
Low retention additive market is anticipated to grow at a CAGR of 6.5% during the forecast period (2024-2031). Stringent REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) and EPA (Environmental Protection Agency) regulations regarding volatile organic compounds (VOCs) and toxic content in solvent-based additives have led to the commercialization of low retention additives with improved performance.
Biorefinery market is anticipated to grow at a CAGR of 29.4% during the forecast period (2024-2031). Biorefinery is a framework in which biomass is utilized in an optimal manner to produce multiple products and tries to be self-sustaining and not harmful to the environment.
Energy ESO market is anticipated to grow at a CAGR of 24.2% during the forecast period (2023-2030). Energy engineering offerings outsourcing (ESO) refers to the strategic practice of entrusting specialized energy engineering tasks and duties to external service providers or organizations. these duties encompass a broad spectrum of activities, which includes, energy audits and assessments, energy-efficient system design and implementation, energy management and optimization, renewable energy integration, and energy sustainability planning.
Bio-LNG market is anticipated to grow at a CAGR of 11.1% during the forecast period (2023-2030). BioLNG is used as biofuel for heavy-duty transport, shipping, and internal production processes. Bio-Liquefied Natural Gas technology is an ideal solution to meet sustainable energy demands while supporting the circular economy. The growing adoption of a well-developed LNG filling with an improved network is the key factor supporting the growth of the market globally.
Artificial lift market is anticipated to grow at a considerable CAGR of 5.5% during the forecast period. Governments are increasingly imposing regulations on the oil and gas industry, such as those related to emissions and water usage. Artificial lift systems can help oil and gas companies comply with these regulations, which can be a major driver of growth in the market.
Residential energy storage system (ESS) market is anticipated to grow at an exponential CAGR of 23.8% during the forecast period. The cohesive government policies to promote less centralized, and more digitalized and sustainable energy system is a key factor driving the growth of the global residential ESS market. Solar Mandates coupled with storage is a major contributor to the growth of the global residential ESS market. For instance, California’s solar mandate has come into effect in early 2020 and requires all residential buildings (lower than three stories) to add enough PV to, on average, offset the annual average energy demand of the household.
Natural gas market is anticipated to grow at a CAGR of 7.5% during the forecast period (2023-2030). Natural gas accounts for about 30% of the energy used in the US Hot weather tends to increase the demand for air conditioning in homes and buildings, which in general increases the power industry's demand for natural gas. Natural gas can be used in different ways, including for the production of electricity, the running of manufacturing plant, as a fuel for a wide range of products, for heating and cooling, and transportation, among others.
The global alkaline fuel cells market is anticipated to grow at a considerable CAGR of 4.7% during the forecast period (2023-2030). Fuel cells are devices that convert chemical energy derived from fuels to electrical energy. The chemical reaction involves utilizing oxygen or any other oxidizing agent for continuous redox reactions. Alkaline fuel cell (AFC) employs an alkaline media as an electrolyte. AFC are also known as Bacon fuel cells, these are one of the most developed and cheaply available fuel cell technologies.
High-voltage equipment market is anticipated to grow at a CAGR of 6.4% during the forecast period. High-voltage equipment typically includes power transformers, switchgear, control equipment, communication devices, insulators, and so on. When electricity is transmitted over long distances, there are inherent energy losses along the way. High voltage transmission reduces the amount of power lost as electricity flows from one location to another.
Oil and gas pipeline operator market is projected to grow at a considerable CAGR of 6.5% during the forecast period. The growth of the market is attributed to factors such as increasing energy demand, expansion of oil and gas exploration activities, and the need for efficient transportation infrastructure. For instance, in February 2023, Luberef, a subsidiary of Saudi Aramco, expanded its base oil plant in Yanbu' al Bahr, Saudi Arabia, which will increase capacity by 230,000 metric tons per year.
Thermal oil heaters market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period. The growth of the market is attributed to factors such as increasing demand in various industries and the advantages offered by thermal oil heaters. Further, advancements in technology and growing energy requirements are some of the factors anticipated to fuel the demand for thermal oil heaters. For instance, in the chemical industry, thermal oil heaters are widely used for efficient and controlled heating processes. Therefore various companies provide highly efficient thermal heater for the chemical industry.
Marine fender market is anticipated to grow at a CAGR of 4.5% during the forecast period (2023-2030). The marine project expansion is anticipated to drive the global marine fender market. For instance, in October 2022, new berth expansion at Le Havre Port in France equipped with shibatafenderteam special element fender systems. These fender systems offer an interesting feature as they were manufactured with a customized fastening system that allows the removal of the PE Plates from the front, without the need to access the fenders from behind. Additionally, it also supplied 20 sets of Steel Ladders in different lengths.
Wind energy O&M market is anticipated to grow at a CAGR of 7.2% during the forecast period. The growth of the market is attributed to factors such as the increasing installation of wind power capacity, the need for efficient operations and maintenance practices to maximize energy generation, and others. For instance, according to the US Department of Energy, in 2021, the U.S. distributed wind sector added 11.7 MW of new distributed wind energy capacity with 1,751 new wind turbines installed across 15 states.
Power infrastructure market is anticipated to grow at a considerable CAGR of 8.04% during the forecast period. The demand for power infrastructure is increasing due to several reasons. Population growth, urbanization, and industrialization have all led to an increase in the demand for electricity. The growing global population requires more energy, and as more people move to cities, the demand for electricity increases.
Diesel engines for non-automotive applications market size was valued at $4.35 billion in 2022, and is projected to reach $5.5 billion by 2030, registering a CAGR of 3.3% during the forecast period (2023-2030). Diesel engine technology is gaining momentum on technological advances which is acting as a driving factor impacting the global diesel engines market for non-automotive applications. Improved fuel economy continues to be the most significant progress in diesel engine technology.
Diesel power engine market is anticipated to grow at a CAGR of 4.1% during the forecast period. The rapidly growing establishment of data centres and developments of large-scale infrastructure projects, among others, are major factors driving the market growth to meet the requirements of reliable power backup. Resultantly, the key market players are focusing on developing and introducing new diesel engines to cater to the demand and stay competitive in the market.
Fuel dispenser market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period. Fuel dispensers are largely used to offer easy access to different kinds of fuels, including diesel, liquefied petroleum gas (LPG), diesel, and compressed hydrogen. In addition to being used at filling stations, fuel dispensers are also used at other locations such as ranches and farms, or airports.
Thermoplastic pipe market is anticipated to grow at a CAGR of 4.5% during the forecast period. The factors such as rising demand for thermoplastic pipes in offshore and onshore production activities, and high adoption of thermoplastic in end-user industries such as municipal corporations, mining & dredging, and others are accelerating the growth of the thermoplastic pipe market.
Oil & gas pumps market is anticipated to grow at a CAGR of 6.2% during the forecast period. The global oil & gas pumps market growth is driven by the major factors which include the rising demand for oil & gas pumps from oil and gas industry and increasing government investments in oil pipeline construction for the development of city gas distribution (CGD) networks.
Power quality equipment market is anticipated to grow at a CAGR of 7.1% during the forecast period. Key players are inclined to launch new products in the market to cater to the demand and to stay competitive in the market, which is considered as major driving factor of the market. For instance, in January 2019, ABB Ltd. launched a multi-functional power quality and energy storage solutions named PQflexC, PQdynaC, PQactiF, PQoptiM, and PQStorI, specially designed to mitigate a range of power quality problems for electrical networks.
Industrial electrical heating element market is anticipated to grow at a CAGR of 3.5% during the forecast period.The surge in demand for electrical heating equipment is a primary factor contributing to the growth of the global market. The demand is increased owing to the various advantages associated with it including temperature-controlled processes and clean heating.Additionally,it is a noise-free device that is easy to operate and economical in terms of installation and running.
Direct drive wind turbine market is anticipated to grow at a CAGR of 15.1% during the forecast period. The high demand for energy across the globe is a significant factor that is anticipated to propel the direct drive of wind turbine market growth in the forthcoming years. Rapid industrialization, favourable regulations on energy efficiency, and the high share of renewables in the power generation sector are likely to augment the market. Rapid technological advancements, such as 3D printing, floating wind turbines, and high-capacity wind turbines reduce the cost of offshore wind power.
ORC industrial waste heat to power market is anticipated to grow at a CAGR of 5.1% during the forecast period. One of the key factors that are fueling the market is the rising government norms to decrease emissions. Converting the waste heat into power contributes to more power which ultimately reduces the fuel consumption for the required conventional power production cycle. This leads to a decrease in fuel emissions which has been supported by the government across the globe.
Electrolyzer market is anticipated to grow at a significant CAGR of 22.7% during the forecast period. The growing utilization of hydrogen as a green fuel is accelerating the growth of the global electrolyzer market during the forecast period. Green hydrogen is hydrogen produced by splitting water into hydrogen and oxygen using renewable electricity, it emits a negligible amount of carbon. Hence, supports reducing the carbon footprint in different sectors such as transportation, electricity, chemical manufacturing, and others.
High purity gas market is anticipated to grow at a CAGR of 6.2% during the forecast period. Technological advancements, industrialization, and increasing demand from various end-use industries such as healthcare, consumer products, automotive, and aerospace & defense are some key factors driving the growth of the market. Additionally, the rising demand for gases in semiconductors and recycling metals across the globe is a key factor in the surging demand for high purity gases.
Pad mounted switchgear market is anticipated to grow at a considerable CAGR of 5.7% during the forecast period. The pad mounted switchgear is outlined to meet the switching and isolating requirements of electrical distribution systems with pre-engineered switching configurations. It is integrated with an enclosure which provides security of fuse and switch components from environmental hazards and damages. In addition, pad mounted switchgear is used for high-priority loads such as commercial and residential which require high reliability and underground cables with pad-mounted switchgear.
HVDC cables market is anticipated to grow at a CAGR of 7.0% during the forecast period. The expansion of smart grid infrastructure coupled with the up-gradation and modernization of existing infrastructure is resulting in increasing demand for HVDC cables. A high-voltage, direct current (HVDC) electric power transmission system uses direct current (DC) for the transmission of electrical power, in contrast with the more common alternating current (AC) systems. High voltage DC cables are used owing to their lightweight, high-power transmission capacity, low maintenance, and minimum handling cost.
Li-ion battery recycling market is anticipated to grow at a CAGR of 18.5% during the forecast period. The rising concerns over battery waste disposal and stringent government policies coupled with the increase in usage of lithium-ion battery owing to the declining lithium-ion battery prices are likely to drive the global lithium-ion battery recycling market. However, the raw materials for the manufacturing of lithium-ion batteries are available at a low cost, whereas a high cost is incurred in recycling.
The global waste to energy market is expected to grow at a CAGR of 5.2% during the forecast period. Owing to the rising energy demand, fast depletion of fossil fuels, and concern of pollution from traditional energy sources, the global energy industry shifted its focus toward waste-to-energy solutions. Governments of different countries are promoting measures and schemes to boost energy production from agriculture and industrial waste. Such factors are likely to boost the demand for the global waste-to-energy market during the forecast period.
The global offshore support vessels market is anticipated to grow at a CAGR of 4.8% during the forecast period. The rising international trade through ocean routes is the major factor driving the growth of the offshore support vessels market. According to the United Nations Conference on Trade and Development, around 80% of global trade by volume and over 70% of global trade by value are carried by sea and are handled by ports globally in 2018.
The global light tower market is anticipated to grow at a significant CAGR of 7.1% during the forecast period. The increasing use of light tower in the construction, mining, oil and gas, and on other industries , is driving the growth of the light tower market. Due to the sheer rising need for more tough and lasting light towers from industries such as mining and construction, major manufacturers have introduced new heavy-duty variants of tower lights for harsher deployments. Furthermore, movable light towers are gaining popularity due to the numerous advantages provided by them.
The global sub sea well intervention market is anticipated to grow at a significant CAGR of 3.7% during the forecast period (2021-2028). The prominent factors that fueled the market growth include subsea well intervention discoveries and activities to improve recovery rates from well-developed fields. . Moreover, the rapidly rising demand for oil and gas across the globe, and the capability to adapt advanced equipment by market producers for the output produces from the available old and matured wells are set to propel the growth of the market in the projected years. For instance, according to IBEF(India Brand Equity Foundation), in India, the oil demand is projected to reach 11 million barrels per day by 2025, and consumption of natural gas is expected to grow by 25 billion cubic meters, registering an average annual growth rate of 9% until 2024.
The global nuclear turbine generator market is growing at a considerable CAGR of 3.0% during the forecast period. Flourishing demand for power generation is one of the prime factors affecting and driving the market. The growing concern associated with power generation from fossil fuels and the increase in fossil fuel prices is also estimated to be the key factor that is contributing significantly to the growth of the market. However, shortfalls of components in making generators and associated costs due to steam generation are the major factor constraints that are hindering the growth of the global nuclear turbine generator market across the globe.
The global traction equipment market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The traction system is a component of the train and is installed on the roof or underneath the train which converts the electrical energy, collected from the catenary through the pantograph, into mechanical energy. This system enables the wheels to turn and the train to accelerate and brake. The major factor driving the demand for traction equipment is the increasing demand for mass transportation across the globe.
The global PV inverter market is anticipated to grow at a significant CAGR of 8.5% during the forecast period. A solar inverter is one of the most important elements of the solar electric power system. It converts the variable direct current (DC) output of a photovoltaic (PV) solar panel into alternating 240V current (AC).
The global fiber termination box market is anticipated to grow at a CAGR of 4.0% during the forecast period. The growing demand for networking components to extend the life of networking fiber is driving the growth of the fiber termination box market.
The global generator sales market is growing at a considerable CAGR of 6.0% during the forecast period. Increasing demand for constant power supply flows is one of the prime factors affecting and driving the market.
The global energy harvesting system market is growing at a considerable CAGR of 8.0% during the forecast period. Increasing research activity, rising expenditure in infrastructure development are considered as the prime factors affecting and driving the market.
The global mobile substation market is anticipated to grow at a CAGR of around 7.8% during the forecast period. The mobile substation is the backup unit of energy requirements during emergencies.
The US Energy as a Service (EaaS) market is projected to grow at a modest CAGR during the forecast period (2022-2028). The key aspect that drives the growth of the market includes the increasing demand for energy across various end-user industries owing to increasing industrialization and urbanization. Increasing distributed energy grid systems and decreasing cost of renewable energy generation and storage solution across the country is also propelling the market growth. Increasing government funding for the development of energy efficiency projects is also anticipated to boost the market growth in the US during the forecast period.
The North America Energy as a Service (EaaS) market is projected to grow at a modest CAGR during the forecast period (2022-2028). The global energy as a service market in North America is driven by the factors such as rising industrialization across the region and increasing focus on reducing energy costs. The other factors such as increasing distributed energy sources, reducing renewable power generation cost, and government support in form of rebates and tax benefits for new energy efficiency projects are projected to drive the scope of energy as a service market in North America during the forecast period.
Europe Energy as a Service (EaaS) market is projected to grow at a modest CAGR during the forecast period (2022-2028). The EaaS market growth in European countries is mainly driven by the factors such as rising preference towards decentralization power generation, low cost renewable power generation, and increase in digitalization and transformation in power sectors. The advancement in smart monitoring systems has resulted in their increased adoption in energy sectors to continuous monitoring of the energy consumption.
The Asia-Pacific Energy as a Service (EaaS) market is projected to grow at a modest CAGR during the forecast period (2022-2028). The key aspect that drives the growth of the market includes increasing focus on renewable energy sources for reducing carbon footprints, growing distributed energy resources across the region, and increasing energy consumption in various sectors such as commercial, industrial, governments, and others. Tax benefits by government for energy efficiency projects and decreasing cost of renewable power generation is also significantly accelerating the growth of the market.
Global foundry tools market is anticipated to grow at a considerable CAGR of 2.4% during the forecast period (2021-2027). The rapid urbanization across the globe has provoked the demand for infrastructure development across the globe. As per the UN, nearly 54.0% of the population lives in the urban area in 2014, which was estimated to be around 3.86 billion.
The European neural implants market is anticipated to grow at a significant CAGR of 7.2% during the forecast period. Europe is the second-largest market for neural implants. Factors such as the rising awareness of ambulatory neural implant devices for neurological disorders coupled with improved healthcare infrastructure, various favorable guidelines, and availability of technologically advanced neural implants are driving the growth of the neural implants market in the region.
The US inverter generator market is anticipated to grow at a significant CAGR of 4.2% during the forecast period. The US is the largest revenue contributor to the global inverter generator market. The inverter generator market in the US is likely to experience substantial growth due to increasing extremity and occurrences of weather-related disasters across the state.
The North America inverter generator market is estimated to grow at a significant CAGR of 4.0% during the forecast period. Several factors are currently driving the growth of the inverter generator market in North America.
The European inverter generator market is anticipated to grow at a significant CAGR of 4.2% during the forecast period. Increasing awareness on the importance of physical activities to maintain a healthy lifestyle is increasing people’s participation in camping and other recreational activities.
The Asia-Pacific inverter generator market is anticipated to grow at the fastest CAGR of 6.2% during the forecast period. The Asia-Pacific inverter generator market is anticipated to grow because of frequent and prolonged power failures in the region and the ongoing infrastructure and construction activities.
The inverter generator market is projected to propagate at a CAGR of 5.5% during the forecast period (2021-2027). Inverter generators are machines that produce electricity in 3 phases (AC current, then converts it to DC current and then again converts it back to AC current).
Landfill Gas (LFG) contains a mixture of various gases formed by the action of microorganisms within a landfill. The global landfill gas market is projected to grow at a CAGR of 4.2% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the growing shift towards renewable energy sources owing to the rising environmental concerns.
The global Energy as a Service (EaaS) market is estimated to grow at a significant CAGR during the forecast period. The major factors contributing to the growth of the market include rising industrialization across the globe and increasing focus on reducing energy costs.
Hybrid power solutions market is expected to grow at a CAGR of 15.3% during the forecast period. The major factors contributing to the growth of the market include the increasing demand for renewable energy sources and rapid industrialization across the globe. As per the International Renewable Energy Agency (IRENA), China’s total operating solar PV capacity reached 175 GW in 2018. By 2020, the target for solar PV capacity is expected to be between 210–270 GW.
Fuel cell market is estimated to grow at a CAGR of 20.0% during the forecast period. The major factors offering an opportunity for the growth of the market include the increasing demand for electric vehicles and government initiatives for the adoption of fuel-cell technology. As per the International Energy Agency (IEA), The global stock of electric passenger cars passed 5 million in 2018, which represents a rise of 63% from 2017. In 2018, China accounted for the largest share of nearly 45% of the global electric cars on the road, which is 2.3 million.
The global regenerative blowers market is expected to grow at a CAGR of 4% during the forecast period. Regenerative blowers are widely used across various industry verticals including food & beverages, chemical, water & wastewater treatment, medical and healthcare, packaging, and others for various pressure and vacuum applications.
The global micro CHP market is growing at a CAGR of 15.1% during the forecast period. The major factors that are augmenting the growth of the market are high heat electricity generation capacity. Furthermore, increasing concern related to the environment, rising demand for fuel cell-based systems, government support, and initiative that includes feed-in tariffs (fits) and tax incentives for the generation of renewable energy, is also acting as the major factors that are contributing significantly toward the growth of the market.