Storage Crisis after Recent Decline in Oil Prices to Create Viable Opportunities for Oil Storage Market

According to a research study published by Transparency Market Research (TMR), the global market for oil storage, which stood at 1,337 mn cubic meters in 2014, is likely to increase its market volume to 2,027 mn cubic meters by 2024 at a CAGR of 4.73% during the period from 2016 to 2024.

Of late, oil prices have been experiencing a sharp decline, leading to prominent alterations in oil trends, including the supply of crude oil exceeding its demand. This depression in oil prices has caused a severe oil glut across the world, creating a storage crisis. As a result, the demand for oil storage facilities is witnessing a remarkable surge since the last few months.

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Apart from this, the plummeting oil prices have also intensified the competition within the oil sector. The leading companies involved in oil supply are aggressively focusing on expanding their operations to increase their supply volume, which is likely to create a huge demand for oil storage units in the coming years.

In this blog post, analysts at TMR answer important queries about the worldwide oil storage market:

What are the key trends that are likely to define the future of global oil storage market?

The demand for oil storage facilities will mostly be influenced by the overhaul in the oil sector over the next few years. With the supply of crude oil surpassing its demand, the need for storage facilities has suddenly intensified, leading to increased oil inventories. Oil companies, especially in Europe and Asia Pacific, are focusing on increasing their storage capacity by constructing new storage facilities.

Apart from this, the demand for finished petroleum products, propelled by the rise in road travels, has also fueled the need for storage capacity expansions considering the future usage, which is expected to impact the demand for oil storage facilities positively in the coming years.

What are the factors influencing the demand for oil storage facilities in various regions?

The Middle East and Africa leads the demand for oil storage facilities across the world. The surge in oil production and the decrease in oil prices are the key driving forces behind the extensive demand for oil storage in this region.

The growing need for additional oil storage space has been driving the demand for oil storage in North America. The increasing investments for the expansion of storage capacity are likely to boost the market for oil storage in North America in the near future.

On the other hand, the demand for oil storage facilities in Asia Pacific is anticipated to be greatly influenced by the rising investments in petroleum reserves in this region over the next few years.

What are the latest developments in this market?

The oil prices are continuing to tumble with the rising crude stockpile in the U.S. According to the U.S. Energy Information Administration (EIA), the crude supplies have increased by 2.5 million barrels in the country till mid-August 2016. Oil suppliers in the U.S. are compelled to build new storage facilities in the next few months, leading to a sudden surge in the oil storage market in the U.S. and across the world, at large.

Japan, on the other hand, is planning to examine the potential for increasing the capacity of Okinawa-based Saudi Arabia’s crude oil storage facility in the near future, which will also reflect positively on the global market in the long run. At present, the facility boasts of a capacity of 6.29 million barrels crude oil.

Rising Government Support Crucial for Wastewater Recovery Systems Industry, says TMR

The global wastewater recovery systems market is driven by the increasing number of applications of wastewater as well as the sustained technological development in recovery systems, according to a new Transparency Market Research report. The report, titled ‘Wastewater Recovery Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,’ provides a detailed analysis of the market’s historical and present figures. The comprehensive database about the market’s development to its current stage is then used to derive actionable insights into the market’s future.

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Wastewater recovery has become a major research avenue in recent years as falling water levels have sparked global concern and outrage. Wastewater recovery systems not only allow water to be reused, but also reduce the volume of wastewater and isolate the pollutants in it. This makes their disposal much more convenient. Wastewater recovery systems thus act as filtration and redistribution units for waste water.

The rising incorporation of wastewater recovery systems in the industrial sector is a prime driver for the global wastewater recovery systems market. Due to the high costs of purchasing fresh water as well as of disposing wastewater in accordance with strict government regulations, wastewater recovery and recycling has emerged as a viable cost-cutting option in several industries.

Government regulations supporting the installation of wastewater recovery systems, through either economic incentives or making installation mandatory, have also helped the wastewater recovery systems market massively. Improper wastewater disposal can become a public health hazard, as wastewater can contain several toxic chemicals, in addition to threatening the wildlife in the disposal site.

Though filtered wastewater is not safe for human consumption, it can be used for agriculture. The rising demand for food across the world has caused a growing strain on the global agriculture sector in recent years, compounded by the growing water scarcity concerns. Treated industrial as well as residential wastewater can thus become a steady source of water for the agriculture sector, since agriculture doesn’t necessarily require fresh water.

The steady technological development of wastewater recovery systems has also helped the market gain sustained demand. Advanced membrane-based filtration and reverse osmosis systems enable the recovery of as much as 90% of the water from wastewater, which has driven their demand in the global market. These two technologies are likely to remain the dominant product segments of the global wastewater recovery systems market in the coming years.

The report also profiled the competitive landscape of the global wastewater recovery systems market in order to present useful insights into the competitive dynamics of the market. Key players such as GE Water & Process Technologies, Koch Membrane Systems Inc., Calgon Carbon Corporation, and Siemens Water Technologies Corp. have been profiled in the report in order to provide readers information on how the wastewater recovery systems market’s competitive landscape is expected to pan out in the coming years.

Economic Incentives for Recycling, Use of Recycled Materials to Drive Waste Recycling Services Market, says TMR

The rising amount of waste being produced across the world is the key driver for the global waste recycling market, according to a new report from Transparency Market Research. The report, titled ‘Waste Recycling Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,’ presents a concise snapshot of the historical development of the global market and a detailed overview of the market’s current figures. The development prospects of the market in the coming years are provided in detail in the report, based on a solid analysis of the market’s current and past scenario.

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Waste recycling services have gained increasing demand in the last few years due to the growing realization of the extent of the problems caused by human waste. Due to the durability of many modern consumer goods, the materials in them can readily be recycled, providing a feasible way of dealing with the generation of waste as well as the rising scarcity of several raw materials.

The increasing concern about the environmental effects of waste has been crucial to mobilizing large-scale waste recycling operations. Human waste not only chokes the soil, but also contains several potentially toxic components that can have a devastating effect on the ecology at the dumping site. Toxic components in human waste can also become a health hazard for human populations near the dumping site.

Environmental regulations banning improper disposal of waste are a key driver for the global waste recycling services market. Many governments have also incentivized waste recycling, helping boost the demand from the global waste recycling services market. In addition to incentivizing recycling, incentive schemes have also been introduced for manufacturers making use of recycled materials in their production line. Sustained government support will be crucial for the waste recycling services market, as waste recycling is not always a profitable process for the operators.

Based on type of material, the global waste recycling services market is segmented into automotive, compost and food waste, glass and fiberglass, batteries, iron and steel, waste paper, wood, tire and rubber, scrap plastic, used consumer goods, used collectible items, used commercial goods, multi-material collection, and waste disposal and collection. Of these, automotive recycling was the leading contributor to the global market in 2015, with the associated segments of iron and steel and tire and rubber recycling also receiving significant demand. However, in the coming years, iron and steel recycling is expected to fall in demand due to the declining prices of steel.

Due to the easy availability of cheap labor in the region, Asia Pacific was the prime market for waste recycling services in 2015. The smooth growth of the manufacturing sector in Asia Pacific has contributed massively to the rising demand for waste recycling services in the region. The booming manufacturing sector in countries such as India, China, Japan, Taiwan, and South Korea is expected to ensure steady demand for waste recycling services in the coming years.

Leading market players profiled in the report include Northstar Recycling, Amdahl Corporation, Collins & Aikman, Triple M Metal LP, Zanker Road Landfill, Battery Council International, Fetzer Vineyards, Eurokey Recycling Ltd., Rubicon Global, Epson Inc., and Hewlett Packard.

Steady Growth of Wind Power Sector to Bode Well for Wind Turbine Maintenance Market, says TMR

The promising growth prospects of the global wind energy market are likely to benefit the global market for wind turbine maintenance, according to a new report from Transparency Market Research (TMR). The report, titled ‘Wind Turbine Maintenance Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,’ presents a comprehensive overview of the market’s historical development in order to extrapolate the growth trajectory and present market forecasts till 2023. The competitive dynamics of the wind turbine maintenance market and the key factors affecting its growth are elaborated upon in detail in the report.

Wind turbines are an essential part of wind energy infrastructure and thus need to be maintained at optimum efficacy. Since wind turbines are inevitably exposed to the elements, significant environmental degradation can occur over long periods. Inadvertent collisions with airborne objects such as birds can also damage wind turbines. This necessitates regular monitoring and periodic servicing and repairs to maintain the intended operational efficiency and output of the wind farm.

Accordingly, the steady growth of the wind power sector is the most important driver for the global wind turbine maintenance market. Due to its renewable nature, wind power has come into its own in the global power sector in the last few years and wind farms being installed over a large scale in Europe and North America. This leads to a direct increase in the demand for wind turbine maintenance, driving the global market.

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The notable concessions given to the wind power sector by several governments across the world make wind turbine maintenance much cheaper, which is another key driver for the global market. Wind turbine maintenance can account for up to 20% of the total expenditure on a wind farm, making economic incentives crucial in ensuring that maintenance requirements are not overlooked by operators.

Geographically, Europe is the leading contributor to the global wind turbine maintenance market due to the extensive support given by several European governments to the development of wind power infrastructure. Western European countries such as Germany, the U.K., and Spain are key producers of wind energy, with Denmark, Sweden, Portugal, France, and Italy also making notable advances in recent years. The widespread implementation of smart grid systems in Europe will also help smoothen the process of identifying problems in wind turbines early on, as any sustained drop in the output of wind farms will be registered in the smart grid system.

On the other hand, China is one of the leading markets for wind turbine maintenance due to its 100-GW network of around 65,000 wind turbines. The sustained government support to the wind energy sector is likely to drive the demand for wind turbine maintenance in China in the coming years. Apart from China, India, Australia, and Japan are also expected to emerge as influential players in the global wind energy market, driving the Asia Pacific market for wind turbine maintenance.

The report also provides detailed information on the market activity of leading players such as DNV GL AS, EcoEnergy LLC, Orion International Consulting Group, LLC, Upwind Solutions, Baywinds, Aeronautica WindPower, and Invenergy.

Subsea Control Systems Market is expected to witness substantial growth during Forecast by 2020

A growing offshore oil and gas sector is one of the major demand drivers for subsea control systems in the future. The offshore exploration and production sector for both oil and gas has exhibited tremendous growth in various regions around the world. Subsea control systems make up an integral part of any subsea infrastructure. Subsea infrastructures are generally required for evacuating oil and gas produced from drilling sites to onshore storage terminals. The subsea control systems constitute the logistics backbone for the offshore oil and gas production industry. Subsea control systems comprise of multiple smaller components such as subsea manifolds, subsea trees and subsea well access systems. The subsea control system supervises a network of subsea wells. Functions performed include management of injection water, chemicals and gas distribution into the network of subsea wells. Subsea control systems employ proprietary software and communication protocols.

These protocols are subject to a high degree of customization according to the specific task they would be utilized for. The increasing activity of oil production from various types of oil and gas wells has necessitated the use of robust subsea control systems. Currently the oil and gas industry is developing wells of various kinds, be it mature or new. Also the production industry is increasingly moving towards deep-water and ultra-deepwater environments where a robust control system framework is highly necessary to ensure safety and constant production levels. As the major oil and gas reserves located in shallow water areas have already been developed, new deepwater offshore locations are being developed to satisfy the growing energy needs. In such deepwater areas, production platforms cannot be fixed to the seabed. This results in exploration and production companies requiring installation of such subsea systems for effective production from these areas.

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However it is difficult to manufacture subsea control systems for harsh underwater conditions which may prove to be a restraint for the market as one transition from deep to ultra deepwater locations. A rapidly growing offshore exploration and production sector for oil and gas is likely to emerge as one of the most attractive markets for subsea control systems within the forecast period. As most of the large oil and gas reserves located in shallow water areas have already been developed, there is an increasing need for developing new deepwater offshore locations. In such deepwater environments it is not feasible to fix production platforms to the seabed. Hence it is necessary for exploration companies to install subsea systems for effective exploration and production of oil and gas from these areas. The market for subsea control systems can be segmented on the basis of depth of operations as shallow water, deepwater and ultra deepwater. In terms of applications, the subsea control systems market can be segmented as oil production, gas lift injection, gas production and water injection.

A rapid discovery of offshore hydrocarbon reserves in the Latin American region is likely to present attractive opportunities for subsea control systems in the future. Multiple exploration majors have been investing in the deepwater locations of Brazil which has subsequently spiked the demand for subsea control systems. There are multiple undeveloped offshore gas wells in Africa which is likely to further bolster market growth The growth in demand in North America however is likely to remain stagnant owing to their increased focus on shale gas development and production. Some of the major market players dealing in subsea control systems are Aker Solutions, General Electric Company, FMC Technologies, Zetechtics Ltd., KW Ltd., HCS Control Systems and Cameron International among others.

Very Large Gas Carrier Market Global Market Opportunity Assessment Study 2020.

Increasing LPG exports from the U.S. due to rising production of shale gas has resulted in increasing demand for very large gas carriers (VLGC). These gas carriers are used for transporting LPG and have a capacity of approximately 82,000 cubic meters. With the increasing demand of LPG from developing economies the demand for large carriers is also increasing to optimize the logistics cost and increase profitability margins. The enlarged Panama Canal is projected to open in late 2016; this would decrease the transit route between North America and Asia Pacific region. The trade between the U.S and Asia Pacific region is anticipated to increase at a rapid pace owing to the decrease in transportation costs. High LPG prices in the Middle East restrained Asian consumers to buy LPG from this market leading to increased demand from the U.S. market. The U.S shale gas revolution is the primary game changer for the increasing demand for very large gas carriers. Freight rates of VLGC’s are expected to increase at a rapid rate owing to the opening of the enlarged Panama Canal.

The increasing demand for LPG especially in the Asia Pacific region is the primary driver bolstering the demand for very large gas carriers. The energy hungry countries such as Japan, China and India are the major centers for LPG imports. The widening of the Panama Canal in North America would further enhance the demand for these large carriers. Taking into account the route between North America and Far East, the widening of the Panama Canal will reduce the cost of transportation to a huge extent.

This would increase the U.S. exports to the Asia Pacific region. This increasing demand of clean fuel sources would encourage the construction of VLGC’s. The cost of crude oil is increasing at a rapid rate, thus the developing economies are looking for cleaner sources such as LPG to fulfill their energy needs. This increasing demand from developing Asia Pacific region would encourage the shipping companies to construct very large gas carriers. However the market for LPG is still unpredictable and though the demand for LPG will certainly increase in the short term, the long term trend is still uncertain. This uncertainty in LPG demand and the increasing fuel prices could hamper the demand of very large gas carriers.

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The rising demand of LPG in Asia Pacific region makes it the most attractive market for very large gas carriers. North America would be the major player in the LNG trade market in the future, thus a majority of the shipping companies in the U.S has placed orders for construction of these very large gas carriers. The Middle East region is also one of the major exporters of LNG, which would provide further growth opportunities for the VLGC market. The European shipping industry is also recovering from the global economic crisis of 2008. The shipbuilders in Europe have now slowly started taking orders for new constructions. Moreover the rising demand of LPG due to strict environmental regulations could lead to increase in demand for large LPG ships in this region. Rising LNG exports from Russia and South American nations could also augment the demand for very large gas carriers.

Some of the major market players operating in this market are Exmar, Dorian LPG Ltd., Shandong, Dorian Hellas S.A., Pertamina Gas, Navigator Holdings Ltd. and Great Eastern Shipping Company.

Flourishing Asia Pacific Market to Follow Combined Heat and Power Industry’s Vanguard in Europe

Combined heat and power systems are most effective in cold climates, where heat is constantly required. When producing both heat and power, CHP systems can achieve an energy consumption efficiency of up to 90%, which is higher than any energy generation system producing either one. Due to the steady growth in their demand, the global combined heat and power installation market is expected to be valued at US$812.8 bn by the end of 2024. According to Transparency Market Research (TMR), the global market was valued at US$524.9 bn in 2014.

Combined heat and power (CHP) generation systems have been developed due to the realization that producing either in isolation leads to significant wastage of energy, as no one energy conversion system can harness all the energy produced by burning fuels. Combined heat and power systems are thus designed to be efficient, which is perfectly in line with the contemporary paradigm of environmental protection. As a result, combined heat and power systems have enjoyed rising demand in the last few years.

What are the key drivers for the combined heat and power installation market?

The rising government support to environmental protection is the prime driver for the global combined heat and power installation market. Due to the rising global energy consumption, the development of energy-efficient systems has picked up steam, driving the utilization of combined heat and power systems. Developed regions such as North America and Western Europe already have extensive distribution networks, which enable easy incorporation of the electricity generated in CHP systems.

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In August 2016, French authorities received the green light from the EU regulatory commission for a scheme to provide economic incentives to combined heat and power installations. These include plans to initiate feed-in premiums and feed-in tariffs, depending upon the operating conditions of individual plants.

However, the benefits of the government support have been multifaceted, with the firm supportive stance and economic incentives also encouraging other sectors to follow suit. For instance, English soccer club, Newcastle United, installed a combined heat and power system in its home ground, St. James Park, in early August 2016. Newcastle United has been a leader in the footballing world in terms of supporting environmental causes, with the club becoming the first carbon positive football club in the world in 2012. Such initiatives could well become commonplace in the sporting world in the coming years, providing a significant boost to the combined heat and power installation market.

What are the leading segments of the combined heat and power installation market?

By product type, large-scale combined heat and power units are the leading revenue generator in the market, with the segment accounting for a whopping 85.7% of the global CHP market in 2014. In spite of the expected rise in the demand for small- and micro-scale combined heat and power units due to their growing utilization in the residential sector, the rising demand for large-scale CHP systems in developing countries is expected to ensure their dominance in the coming years.

Regionally, Europe is the leading market for combined heat and power installations. On the other hand, the dynamic economies in Asia Pacific have become a lucrative future market for CHP manufacturers. The expanding industrial sector in Asia Pacific and the rising use of CHPs in the residential sector in Japan are the key drivers for the CHP installations market in Asia Pacific.

PET Bottles to Retain Lion’s Share in Plastic Bottle Recycling Industry, says TMR

The global market for plastic bottle recycling is driven primarily by the rising awareness about the environmental risk posed by plastic waste, according to a new report from Transparency Market Research. The report, titled ‘Plastic Bottle Recycling Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 – 2023,’ presents a solid analysis of the market’s historical development trajectory and links it with the market’s current figures to derive actionable insights into the market’s expected development in the coming years.

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Plastic bottles are among the most widely used consumer goods in the world. A wide variety of products, including beverages, cosmetics, and chemicals, are stored and transported in plastic bottles, leading to the generation of significant quantities of plastic waste. Plastic bottles are nonbiodegradable, which has caused soil and water pollution across the world. However, the durability of plastic materials has also presented a viable hope for large-scale recycling, as plastic bottles can readily be reconstituted into other plastic goods.

The rising concern caused by the scarcity of petroleum has also aided the plastic bottle recycling market, since most commercially used plastics are derived from petroleum. As the increasing production of unconventional oil and gas shows, conventional oil wells have started to decline, leading to an urgent need to reduce the use of oil in nonessential end-use industries.

Recycling plastic bottles involves converting them into lower grades of plastic in order to make it reusable. This process is considerably complicated by the difficulties in producing a homogenous mixture of different plastics, as different plastic resins do not readily mix due to fundamental differences at the molecular level. This necessitates the separation of plastic bottles according to plastic type, which can be time-consuming and expensive, based on the total volume and the diversity of plastic materials present at a given site.

By product type, the global plastic bottle recycling market is segmented into polyethylene terephthalate (PET), polypropylene, and high-density polyethylene. Of these, PET bottles were the leading contributor to the global plastic bottle recycling market in 2015 and are likely to remain the key segment in the coming years.

Geographically, North America is the key contributor to the global plastic bottle recycling market due to the rising plastic bottle recycling operations in the U.S. The easy availability of advanced infrastructure in the U.S. is expected to ensure steady growth of the North America plastic bottle recycling market in the coming years.

The leading plastic bottle recycling market players profiled in the report include Advanced Environmental Recycling Technologies, UltrePET, Evergreen Plastics, Phoenix Technologies International, Worldwide Recycler Services, National Recycling Technologies, CarbonLITE, ECO2 Plastics, Avangard Innovative, and Recycle Clear.

Global Solar Street Lighting Market to Expand Rapidly at 23.23% CAGR to Reach US$17.78 bn by 2024

Transparency Market Research has released a new market report titled “Solar Street Lighting Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2016 - 2024.” According to this report, the global solar street lighting market revenue stood at US$ 2.72 Bn in 2015 and is projected to reach US$ 17.78 Bn by 2024 at a CAGR of 23.23% from 2016 to 2024.

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Solar street lighting is one of the best renewable energy based technologies to power street lights both in grid-based and off-grid systems. The component used for solar street light are solar pane, lighting fixture, controller, rechargeable battery, and pole. Due to their dependency on sunlight, the lighting unit needs to be installed in a shadow-free area or a place where direct sunlight is available throughout the day to sufficiently charge the batteries for one working cycle. The standalone solar photovoltaic street lighting system comprises of a re-chargeable lead acid battery for storage, PV (photovoltaic) modules for charging the battery, light source (Compact Fluorescent Lamps (CFL) and Light Emitting Diodes (LED), suitable electronics for the operation of the tamp and safe charging and discharging of the battery and mechanical hardware for fixing these sub systems. These lighting systems are available either with automatic dusk to dawn operation or with a pre-set timer. Tubular Batteries provided with the solar street lighting system require lower maintenance; have longer life and give better performance as compared to pasted plate batteries used earlier. The solar photovoltaic modules are reported to have a service life of 15-20 years.

The solar street lights are widely used in residential (car parking, residential buildings, garden lawns and others), commercial (highways, colonies, rural areas and others) and industrial

Current market scenarios have prompted street light manufacturers to look for alternatives that are efficient and provide off-grid power solutions. This gives way to certain drivers that boost the solar street lighting market. One of the most important fundamentals involved with SSL is the fact that they provide a viable solution to street lighting in any terrain, irrespective of whether there is grid connectivity to that location or not. Secondly, they reduce energy load on the economy leading to more fiscal savings for the government as well as the taxpayers. Solar street lights also give the benefit of having negligible maintenance cost, no wiring or transformer costs as well as reduction in carbon footprint.

The Solar street lighting market can be broadly segmented on the basis of types (Standalone and On Grid), applications (Residential, Commercial and Industrial) and lighting source (Compact Fluorescent Lamps (CFL) and Light Emitting Diodes (LED)

Asia Pacific was the largest market for Solar Street Lighting globally, accounting for 44% share in 2015. India was the leader in terms of revenue realization from Solar Street Lighting, followed by China, in 2015. Africa was the second-largest market for solar street lighting in 2015. Kenya, South Africa, Ghana, and Nigeria spearhead the solar street lighting market in Africa with need for clean and reliable source of off-grid electricity. Europe was the third-largest market for solar street lighting, in terms of market share, in 2015. Germany and U.K were the leading countries with highest revenue realization from solar street lighting in 2015. The market in Africa is expected to witness significant growth in the near future and would surpass the growth rate of Asia Pacific market by 2018. This expected growth is the result of numerous initiatives such as subsidies, campaigns, and different programs introduced by the World Bank and International Finance Corporation to promote solar street lighting products.

The market in Africa is expected to expand at the highest CAGR during the forecast period. Government policies, local manufacturing, and demand for clean fuel off grid electricity would drive the demand for solar street lighting in Africa.

Some of the key manufacturers of solar street lighting are Philips Lighting Holding B.V., Omega Solar, Bridgelux, Inc., Dragons Breath Solar, SOKOYO Solar Group, Solektra International, Sunna Design, Urja Global Ltd., VerySol GmbH, Solar Street Lights USA and Sol, Inc

The Solar Street Lighting market has been segmented as follows:

Solar Street Lighting Market: By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South and Central America

Solar Street Lighting Market: By Type

• Standalone
• On Grid

Oil and Gas Companies Look for High-efficiency Oil and Gas Analytics Amid Falling Crude Prices

Oil and gas companies are moving through a phase that could prove to be highly beneficial to the global oil and gas analytics market. With the current oil prices slump showing very few signs of relief, crude extractors and refineries are looking to resolve their cost issues through optimizing their processes and increasing their production efficiencies. The global oil and gas analytics companies can help crude players do just that; the companies can improve their ROI though making decisions and strategies based on these analytics, says Transparency Market Research.

TMR’s new study reveals that the key players in the global oil and gas analytics market are highly oriented towards providing software services. This can be concluded through the fact that software sales are increasing and have brought about major growth spurts in the global oil and gas analytics market over the recent past. The top three players – IBM Analytics, Oracle Corporation, and SAP SE – have collectively held around 23% of the market in 2014.

The research provided by seasoned TMR analysts can help shed a brighter light on the global oil and gas analytics market and all its current dynamics, with the oil prices slump in view.

Upstream Applications Will Continue Oil and Gas Analytics Dominance

“High risk has always been a part and parcel of oil and gas core functions,” stated a TMR analyst. “The priority that risk-management holds in the oil and gas exploration and production’s core functions has consistently made upstream oil and gas analytics exceptionally important.” The report also discusses how and why the upstream applications segment – with the highest market value of roughly US$2.89 bn in 2014 – will be the fastest-growing segment in the global oil and gas analytics market for the report’s forecast period from 2016 to 2024. This is a segment that includes key functions such as asset maintenance, risk assessment, drilling optimization, and production optimization. All the above factors are in high demand in the crude industry, enabling this segment as a whole to progress at a rapid rate.

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Analytics Innovations and Customized Services are What Oil and Gas Companies are Looking For

The key players in the global oil and gas analytics market are all highly capable of not only providing the best in software, hardware, and services, but are also providers of patented software programs to third party service providers on the basis of lease and licensing. As a result, these companies are able to nudge their growth rates further than most new entrants. At the same time, the clients from the oil and gas sector have begun looking for new levels of innovations for high-quality analytics. They are also looking for customizations that might allow the new services or hardware to integrate seamlessly with their processes. Players who look deeper into these latent needs of the client are expected to show bigger margins. For instance, the April 2016 release of Solution Print by Deloitte Development LLC, along with its rapid rate of integrating the IoT structure to oil and gas analytics, have been causing many clients prefer this company’s services or look for similar services in the market.

Although software sales are at an all-time high in the global oil and gas analytics market, no importance is taken away from the installation and implementation of new hardware. The most commonly used hardware for oil and gas analytics include data monitoring equipment, data storage, and servers. Each sub-segment of hardware is showing a great deal of innovativeness when it comes to optimizing systems specifically for oil and gas analytics.

Scope of Development as Important as Market Share Size for Analytics Services Providers

From a regional perspective, a whopping 45% of the revenue in the global oil and gas analytics market was held by North America, for 2015. The U.S. was responsible for a large part of this revenue generated, followed by Canada and Mexico. Most of the key players in the region are also key players in the global market, allowing their growth and development to be a direct boost to the North America oil and gas analytics market. The North America analytics scenario for oil and gas has been a consistently positive one. It held a market value of US$3.1 bn in 2015 and, according to the TMR report, is showing a 19.5% CAGR from 2016 to 2024.

Additionally, many of these established analytics companies are already looking at regions such as Asia Pacific for further development. A major reason for this is the readiness of the Asia Pacific oil and gas industry to adopt the newer software and hardware in oil and gas analytics. This is good news for global players who are looking to expand their horizons beyond their primary region of operations.

Key Segments of the Global Oil and Gas Analytics Market

Global Oil & Gas Analytics Market: Application Analysis

• Upstream
• Midstream
• Downstream

Nanofluids Hold Potential to Transform Future of Drilling Fluids Market, says TMR

According to the report, the global drilling fluids market is expected to be worth US$12.31 bn by 2018. On the basis of product, the global drilling fluids market was led by the water-based fluids segment in the past and is expected to continue to do so in the coming years. By application, the onshore oil and gas segment is expected to lead and account for 72.1% of the market by 2018. On the basis of region, North America is expected to lead in the coming years and account for 54.4% of the drilling fluids market by 2018.

The global drilling fluids market is highly concentrated with the top three players accounting for 63% of the market in 2012. The market is led by players such as Schlumberger, Halliburtonand, Baker Hughes, Newpark, and Weatherford International. Large companies are strategically acquiring smaller, regional companies to increase their market share, states a new report by Transparency Market Research (TMR). To achieve sustainability, companies are striving for product innovation by means of nanotechnology. Heavy investments in R&D is another common approach taken by companies. The degree of competition is expected to be high in the coming years.

New entrants face entry barriers such as high capital requirement, stringent environmental regulations, and strong hold by large companies. There is no external substitute available in the market for drilling fluids. However, biodegradable fluids are posing as a grave threat to drilling products such as water-based fluids (WBFs), oil-based fluids (OBFs), and synthetic-based fluids (SBFs).

Increased Demand for Oil and Gas Continues to Boost Demand for Drilling Fluids

The demand for drilling fluids is directly proportional to the number of drilling activities being carried out. Since drilling activities have seen an upward trend for some time now owing to the high demand for crude oil and gas, the drilling fluids market is expected to grow.

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The depleting reserves in onshore and shallow waters have forced E&P companies to explore deep sea reserves. Deep sea drilling requires a higher volume of drilling fluids to successfully extract oil and gas. Greater volumes of drilling fluids translate into higher revenues for the market. Thus, the global drilling fluids market is expected to witness a significant growth in the coming years. Additionally, the depleting resources of crude oil and natural gas have triggered players to look for alternatives such as shale oil and gas, tight gas, and methane hydrates. Since drilling is required to extract these resources, drilling fluids will continue to be in demand.

Environmental Concerns Regarding Use and Disposal of Drilling Fluids Hinder Market

Drilling fluids cause various environmental hazards during their usage and disposal. This directly affects the flora and fauna and indirectly affects human life. The EPA limits the use of oil-based fluids in offshore drilling as they contain high levels of aromatic content, posing a grave threat to living organisms in marine environments.

Geopolitical issues between countries are another factor hindering the growth of the drilling fluids market, says a TMR analyst. There are several geopolitical issues linked with North America and the Middle East and Africa. Geopolitical issues also exist between various developed and developing countries that affect the trade relations between them. As such, the oil and gas industry and subsequently the drilling fluids market suffers.

Use of Nanotechnology to Develop Enhanced Drilling Fluids Benefits Market

Industry players are shifting their focus towards the use of nanotechnology for the development of drilling fluids owing to several issues related with the use of WBFs and OBFs. The issues associated with WBFs and OBFs include slow rate of penetration, permeability damage, thermal expansion of base fluids, and others. Nanoparticles are being used as drilling fluid additives to enhance the wellbore stability. Nanotechnology is expected to help in the designing of nanofluids that can withstand high temperature and pressure. This is expected to emerge as an opportunity for growth in the market.

The global drilling fluids market is segmented as follows:

Product

• Oil Based Fluids (OBFs)
• Synthetic Based Fluids (SBFs)
• Water Based Fluids (WBFs)

Application

• Offshore Oil and Gas
• Onshore Oil and Gas

Increased Use in Phones, Chargers, and Laptops Boosting Demand for Organic Solar Cells, says TMR

According to the report, the global market opportunity in organic solar cell is expected to rise from US$36.94 mn in 2015 to US$97.41 mn by 2020. On the basis of application, the BIPV segment is expected to lead and account for 37.93% of the market by 2020. By geography, Europe not only led in the past but is also expected to lead in the coming years. Europe is expected to account for 34.49% of the organic solar cell market by 2020. North America is expected to follow Europe in terms of holding significant shares in the market.

The organic solar cell market is a niche market with a small number of players. The top five players accounted for 61% of the market in 2012. Key players in the market are Heliatek GmbH, BELECTRIC OPV GmbH, and Disa Solar. With an undivided focus on R&D, leading players have developed innovative products operating at high efficiencies. In the coming few years, more new companies are expected to enter in the market.

Companies such as Heliatek GmbH and Mitsubishi Chemical Corporation are entering into strategic partnerships to receive the necessary support for the procurement of raw materials, funding, and distribution. Another strategy used by companies is to use their chemical development prowess to enter in the organic solar cell market. A case in point would be The Sumitomo Chemical Co., Ltd. The Japanese company is striving to make use of its chemical manufacturing expertise and global reach to gain a strong position in the organic solar cell market.

Flexibility and Customization Make Organic Solar Cells Popular

Organic materials used in the manufacturing of organic solar cells offers flexibility to customize the molecular properties as per the application. Organic solar cells can be tailored as per requirements into the shape or size desired. This increases the application areas of solar cells, thus fueling their demand. Organic solar cells are being used in build integrated photovoltaic (BIVP), phones, chargers, laptops, clothes, small autonomous devices, military applications, and transportation sector. Additionally, the lightness and thinness of these cells make them easier to be used on any surface without adding much extra weight.

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The production of electricity using photovoltaic cells does not emit greenhouse gases. There is very less usage of energy during the manufacturing process, thus saving production cost. Additionally, lower energy payback time for organic solar cells makes them the preferred choice for adoption.

Shorter Lifespan Hampering Adoption of Organic Solar Cells

Organic solar cells are still in the developmental phase and thus, the efficiency and durability of these cells are not up to the mark. They are not as efficient as crystalline inorganic solar cells. Organic solar cells are unable to absorb a continuous spectrum of photons. These cells have a short lifespan. They are sensitive to heat-induced degradation in the presence of moisture and air and thus, can be easily damaged. Moreover, the solar cell technology is still in its nascent phase and requires few more years to be fully commercialized. All these factors are restricting the growth of the global organic solar cell market.

Immense Scope of Improvement Provides Opportunity for Players to Grow in Market

The growing competition among companies is expected to result in better efficiency, lower production cost, and improved lifespan of organic solar cells. Companies such as Solarmer Energy, Inc. have reached efficiency levels of over 12%. The increased demand for solar cells is expected to limit the drawbacks of efficiency and cost. This is because an increase in the demand of these cells will lead to mass production, which in turn will reduce the manufacturing cost.

The global organic solar cell market is segmented as follows:

Application

• Building Integrated Photovoltaics
• Mobile applications (Portable devices and vehicles)
• Conventional solar applications
• Defense or military based applications

Need to Lower Greenhouse Emissions Boosts Adoption of Recycled Plastic and Plastic Waste to Oil Technology

According to a report published by Transparency Market Research (TMR), the global recycled plastic and plastic waste to oil market which stood at US$542.8 mn in 2014 is anticipated to reach US$1,971.4 mn by 2024, expanding at a CAGR of 12.6% from 2016 to 2024.

As massive amounts of plastic trash accumulates across the world, countries have realized that one of the best ways to tackle and mitigate the huge volume of plastic waste is to make it valuable and convert it into a fuel. Plastic to oil is a technology that enables the eco-friendly disposal of plastic waste and is complementary to existing efforts to recycle plastic. This technology is helping countries dependent on crude oil imports to channel their plastic waste into useful fuel and reduce dependence on other countries. Additionally, plastic waste to oil technology can help lower greenhouse emissions by making use of non-recycled plastics from landfills.

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Q. Which regions are expected to be key contributors in the recycled plastic and plastic waste to oil market?

The recycled plastic and plastic waste to oil markets in North America and South and Central America are expected to grow at a remarkable rate from 2016 to 2024. Previously however, Europe and Asia Pacific were key contributors in the market. Europe accounted for over 35% of the market in 2014.

Q. What are the factors driving the growth of the market?

The rising plastic production worldwide is the key driving factor for the recycled plastic and plastic waste to oil market. The rising use of plastic for packaging, toys, buckets, bottles, bags, and glasses is resulting in huge plastic waste, driving the market.

Growing concerns regarding the toxicity and environmental pollution caused by plastic waste are boosting the global recycled plastic and plastic waste to oil market. The recycled plastic and plastic waste to oil market also receives a huge support by government and environmental regulatory bodies. Various regulations against disposal of plastics are aiding the growth of the market.

Q. What are the new developments that have the potential to shape the recycled plastic and plastic waste to oil industry?

Chemists at UC Irvine have developed a new technique for the breaking down of polyethylene into its constituent elements, including diesel. The new technique makes use of hydrocarbons and a metal catalyst to break the plastic molecules into its constituent fuel compounds. The process is not yet launched commercially but is expected to be highly efficient and less toxic when it reaches the commercial market.

Jointly funded by Innovate UK and ESPRC, a research on Plaxx, developed by the British firm Recycling Technologies, is seen as a potential fuel for marine engines. The research on Plaxx, which is made from plastic waste, is expected to determine whether it can be used in diesel engines without causing engine wear.

Such developments in the field are expected to bring with them a new scope for improvement and growth in the recycled plastic and plastic waste to oil market.

Efforts to Reduce Energy Supply Deficits Crucial for Waste-to-energy Technologies Market, says TMR

Transparency Market Research’s new market study on the global waste-to-energy technologies market provides valuable insights on the growth of this market for the forecast period from 2016 to 2023. The report is titled “Waste-to-energy Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2023.” The report presents a comprehensive analysis of current market trends, growth drivers, and restraints that will influence the development of this market during the forecast period.

It analyzes the development of the global waste-to-energy technologies market across North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa for the aforementioned forecast period.

According to estimates of the World Bank, the amount of waste that is generated will reach 11 million tonnes per day by 2100. This extends massive administrative and logistical challenges for both developing and developed countries. While waste can be used in countless energy production programs, its potential has so far been underutilized. In this light, waste-to-energy initiatives necessitate the application of techniques that can help derive valuable energy from waste products.

At present, the filling of landfills to the brim is mounting pressure on industries to either reduce the amount of waste generated or make it reusable to generate energy. This use of waste-to-energy technologies enables to do this.

In recent years, the dramatic increase in the global population has led to an exponential increase in the amount of waste that is generated. This is the primary factor fuelling the adoption of waste-to-energy technologies for environment conservation reasons and to fulfill the energy needs to some extent. Moreover, waste-to-energy is emerging as a sustainable option to lower greenhouse gas emissions that are happening due to rapid urbanization and increasing purchasing power of consumers.

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In this scenario, key policymakers will either have to increase the capacities of existing landfills or will need to consider investing in waste-to-energy plants. To keep up with the increasing thrust on renewable energy and lowering carbon emissions, the latter seems to be a viable option. This will not only require planning for the development of new waste-to-energy plants, but also deployment of newer technologies for the conversion of waste into energy. Investments in this space also offer attractive returns in terms of production of renewable energy from waste and retrieval of metals from waste.

Asia Pacific stands as a leading region for waste-to-energy technologies and will also spearhead the growth of the global market in the coming years. This is because China has positioned itself as a trendsetter in the global market for waste-to-energy technologies. Europe is expected to trail Asia Pacific in the waste-to-energy technologies market over the report’s forecast period.

Leading players in the waste-to-energy technologies market are Foster Wheeler, China Everbright, and ABB.

Funding from Key International Institutes to Give Geothermal Power in Emerging Markets a Fillip

Over the several decades of its use, geothermal power has proven its potential in playing a central role in the much-needed transition of the world to a sustainable energy future. The rising awareness regarding the fact that over 100 GW of geothermal capacity remains untapped across the globe has ramped up national and international efforts aimed at development of this high-potential, low-environmental-impact energy source.

The global geothermal power market witnessed an addition of about 310 MW of capacity on a global front in 2015. With this, the total world geothermal power generation capacity increased to more than 13.3 GW. Several promising projects, which are currently under construction across more than 80 countries worldwide, are expected to significantly add to this number and make geothermal power a key contributor to the global energy mix in the next few years.

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Transparency Market Research estimates that the geothermal power generation market will expand at an excellent CAGR of 23.58% over the period between 2013 and 2019. Rising at this pace, the market, which held an opportunity of US$2.5 bn in 2013, is expected to rise to US$8.9 bn by 2019.

What is the key challenge hindering the widespread development of geothermal power generation market?

The widespread development of geothermal energy, especially in developing countries, faces several investment-related challenges. A vast range of risks and high upfront costs are associated with the process of geophysical studies and geological drilling during the exploration phase in the development of a new geothermal power generation project. Owing to this, financing in the early stage of the project is mostly limited to only the investors that clearly understand and accept the potential risks of investing in geothermal projects.

Moreover, the uncertainty in results of an exploration activity means that the investor’s funds may be locked in for many years without the promise of sustained returns, holding back large-scale investments from reaching potential projects. This factor is a significant restraint for the overall development of the global power generation market, especially in many developing countries with excellent geothermal resources.

Are any attempts being made to overcome this challenge?

Yes, many proactive steps are being undertaken globally to mitigate exploratory risks and promote investments. The World Bank, for instance, has increased efforts to lower the risks associated with exploratory drilling in geothermal power generation plants through its Energy Sector Management Assistance Program (ESMAP). ESMAP’s Global Geothermal Development Plan is an initiative that focuses on reducing the cost and risks associated with exploratory drilling in low- and middle-income countries.

Through this program so far, the World Bank has mobilized funds worth over US$235 mn towards the cause of scaling up geothermal power generation in several countries across the globe. Many geothermal fields in Africa, Latin America, Southeast Asia, and Pacific where exploration has been done and additional financing is required to move the projects forward to confirm their commercial viability have already received funding from this program.

Meanwhile, in September 2014, the United Nations also formed a Global Geothermal Alliance – a coalition with more than 35 countries and over 20 partners presently, formed with the view of increasing the global share of geothermal energy in world’s overall energy mix. The alliance aims at promoting technological cooperation, mitigating conception-level barriers related to investment, and facilitating investments for the development of high-potential geothermal energy projects into viable energy markets.

Increasing Need for Hassle Free Energy Conversion Technology to Drive Demand for Bladeless Wind Turbines, says TMR

 

A new intelligence report by Transparency Market Research provides an in depth analysis of the global bladeless wind turbine market. The report is titled “Bladeless Wind Turbines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.” The study presents a comprehensive overview of the historical growth trajectory, current market scenario, and future growth prospects of the global bladeless wind turbine market.

The report analyzes growth trends in the global bladeless wind turbine market in terms of both value and volume. The study presents an analysis of the global bladeless wind turbine market considering various essential elements on the global and regional level.

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With the growth in the wind turbines market due to a rise in wind energy conversion activities, there has been a significant rise in the research and development activities in the sector. As a result of this, bladeless wind turbines have emerged as a potential solution for the conversion of wind energy into electrical energy. Bladeless wind turbines use the vortices occurring from wind obstruction to produce electrical energy from wind energy. Bladeless wind turbines, by virtue of being void of heavy blades, are hassle free.

Decrease in the weight of the energy generating mechanism is the major factor driving the global bladeless wind turbines market. The construction cost of traditional wind turbines is significantly high as high quality machinery is required to avoid structural damage. As bladeless wind turbines oscillate when responding to vortices, the risk of heavy structural damage is comparatively low.

Moreover, as bladeless wind turbines contain few parts, they emit less noise and also pose no threat to birds, eliminating two of the major complaints that consumers have from traditional wind turbines. The inclusion of fewer moving parts also makes construction of bladeless wind turbines more reliable than the conventional ones. Bladeless wind turbines are also less expensive than traditional wind turbines and are easy to install. These factors together are likely to drive the growth of the global bladeless wind turbines market.

However, bladeless wind turbines are comparatively less effective in the conversion of wind power into electric energy. The success of the design of bladeless wind turbine is still unclear as the technology is comparatively new. Failure of numerous past experiments conducted with bladeless wind turbines has made consumers skeptical about the adoption of bladeless wind turbines. These factors are likely to inhibit the demand for bladeless wind turbines globally.

European countries have taken a lead in the adoption of bladeless wind turbines. Companies trying to venture in the global bladeless wind turbines market are aiming at developing better technologies. As of now, the company driving the market for bladeless wind turbines is Vortex Bladeless, a company based in Spain.