Off-grid Power Systems for Remote Sensing Market anticipated to expand at 7.35% CAGR By 2024

Transparency Market Research has released a new market report titled “Off-grid Power Systems for Remote Sensing Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.” According to this report, the global off-grid power systems for remote sensing market was valued at US$ 1,193.85 Mn in 2016 and is projected to reach US$ 2,105.95 Mn by 2024 at a CAGR of 7.35% from 2016 to 2024.

The global off-grid power systems for remote sensing market is driven by the need for power surge protection through fuel cells and backup batteries coupled with the growing applications/adoption of LIDAR in the wind energy sector. Increasing investments in offshore wind energy plants will also create a demand for off-grid power systems for remote sensing. Major players of the industry focus on research and technology to develop a remote sensing product with highest accuracy. The end-user industries are dependent on the data provided by the remote sensing systems for proper operations. Hence, accuracy of remote sensing systems will play an important role in the growth of the off-grid power systems for remote sensing market.

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Use of off-grid technologies reduces the reliability on grid power, enabling smooth operations in remote sensing activities. Battery backup uses batteries with lead acid, lithium ion, and nickel cadmium, among others as a material to ensure longer battery life for smooth performance. Solar PV technology also uses battery backup due to its intermittent power supply problem. Fuel cells is a new and emerging technology and the market for fuel cells is anticipated to expand at a high rate in the next few years. In terms of technology, battery backup is anticipated to be the largest segment of the global off-grid power systems for remote sensing market during the forecast period. The battery backup segment is driven by the use of advanced technologies and the influx of investments in battery manufacturing. High investments in battery manufacturing are resulting in advancements such as increased energy for longer runtimes and improved power for high current load requirements which are particularly required in remote sensing applications. Significant efforts are being undertaken to develop the battery technology for remote sensing applications. For instance, the ratio capacity to size is increasing. This enables a higher number of power consuming activities such as longer flights and heavier payloads. In terms of new development, major companies are developing remote power systems for outdoor backup power solutions which provide uninterrupted power supply for monitoring activities in oil & gas and wind energy sector.

Fuel cells are also used as one of the off-grid power supply options for remote sensing in oil & gas and wind energy sectors. Fuel cell technologies are being developed in order to support climate change and meet energy security goals in several industries, such as transportation, industry, buildings, and power. Fuel cell companies are seeking government help to accelerate the development and deployment of fuel cell technologies by ensuring continued research, development, and demonstration (RD&D) funding for hydrogen generation and conversion technologies, such as electrolyzers and fuel cells.

Other technologies considered in off-grid power systems for remote sensing market include solar PV and hybrid technology. Solar PV can be used as a source of power for UAVs (Unmanned Aerial Vehicles) in remote sensing, usually for large-sized platforms with long flying missions. Solar cells combined with Li Po (Lithium Ion Polymer) and Li S (Lithium Ion Sulfide) batteries constitute a day/night power solution for several days of flight which is a hybrid technology of solar cells and battery backup.

The oil & gas end-user segment dominated the off-grid power systems for remote sensing market in 2014. Growth of the LIDAR market and demand for alternate energy have fueled the demand for off-grid power systems for remote sensing market. The wind energy sector uses SODAR (SOnic Detection and Ranging) and LiDAR (Light Detection and Ranging) technologies to support wind resource assessments. These remote sensing devices are quite easy to use and move from site to site. Remote sensing is used in various other industries such as water resource management, military, weather stations, agriculture, and bioenergy. Remote sensing devices coupled with off-grid technologies are used to acquire accurate data with the help of images taken from space using satellites or using aircrafts.

Wind energy is becoming a prevalent source of renewable energy based power generation for electricity in windy areas. Wind resource assessment is an essential and necessary step for appropriate wind turbine selection. A typical wind energy development project has three important aspects of measurement: quantification of available wind resource, study of geographical and geological conditions of the project site, and wind turbine power curve. The wind energy assessment process could include usage of remote sensing data to assess any of the components such as precision of extrapolations from tower data, shear coefficients to be used with tower data, hub-height wind speeds and directions, and wind resource variability across the site. Remote sensing equipment such as SODAR and LIDAR are used to support wind resource assessments. These provide wind turbine hub-heights, wind speeds and direction, vertical wind speeds, and wind shear and veer above the heights of typical meteorological (met) tower measurements.

Other end-user industries where remote sensing is used through off-grid power systems include water resource management, forestry, agriculture, military, and weather stations. Different data sources such as field survey, aerial photography, and satellite imagery are used to gather various information requirements in forest management, depending upon the level of details required and extension of the area under study.

Key players in the global off-grid power systems for remote sensing market include Acumentrics Holding Corporation, Tycon Systems Inc., UPS Systems Plc., Timber Line Electric and Control Corporation, SFC Energy AG, Victron Energy B.V., HES Energy Systems Pte. Ltd., Ensol Systems Inc., Evergreen Energy Technologies Inc., and Energy Solutions (UK) Ltd. The report provides an overview of these companies, followed by their financial revenues (on availability), business strategies, SWOT analysis, and recent developments.

The off-grid power systems for remote sensing market has been segmented as:

Off-grid Power Systems for Remote Sensing Market: By Technology Type

• Battery Backup
• Fuel Cells
• Others

Off-grid Power Systems for Remote Sensing Market: By End-users

• Oil & gas
• Wind
• Others

Solar Street Lighting Market Advanced technologies & growth opportunities in global Industry by 2024.

Outdoor street lighting units used to illuminate a street or open areas via solar energy is termed as solar street light (SSL). Since their primary energy source is solar power, they operate in a stand-alone mode, therefore are not dependent on the general grid for any power requirements, whatsoever. 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 SPV modules are reported to have a service life of 15-20 years.

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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.

Global Combined heat and power installation market to exhibit a CAGR of 4.38% By 2024

Global Combined Heat and Power Installation Market: Key Trends

The upsurge in the consumption of fuel derived from biomass, wood, and waste heat, is likely to boost the installation of combined heat and power (CHP) across the globe. Transparency Market Research forecasts the global CHP installation market to exhibit a CAGR of 4.38% between 2014 and 2024. The prospects for CHP installations have improved globally in response to the rising energy prices. This, combined with stringent regulations implemented to curb carbon emissions from conventional systems, is expected to aid the proliferation of CHP systems worldwide.

CHP systems run on both renewable and non-renewable fuels such as natural gas, coal, wood, biomass, oil, and waste heat. They can operate at an efficiency level as high as 77% to 90% as compared to the 46% efficiency level of conventional systems. However, the best economics of a CHP system is achieved in cold climates, when the energy rates are high, prices of natural gas fall, and there is a continuous demand for heat. Besides this, diverse functionalities offered by CHP systems also encourage their installation in both colder and hotter regions.

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Strong Existing Network of CHPs to Boost their Installation Worldwide

Based on in-depth research, TMR has pegged the combined heat and power installations worldwide to reach US$812.80 bn by 2024. The global CHP installation market stood at US$524.89 bn in 2014. The market will further gain impetus from the strong existing CHP network. The increasing awareness about CHP systems, particularly in developing nations is likely to translate into increased sales for the global CHP installation market. These countries are exhibiting high aggregate demand for energy-efficient technologies, thus creating enough opportunities for the market to leverage from during the report’s forecast period.

However, TMR expects the value chain of the global combined heat and power installation market to remain complicated with the prominent companies in the market adopting forward integration in response to the implementation of stringent policies by governments. Additionally, high initial cost incurred on the installation of CHP systems also discourages their widespread deployment. Nevertheless, the market is expected to find substantial opportunities in the residential and commercial energy markets in the near future.

Demand for Large-scale CHPs to Increase in Emerging Economies

The global CHP installation market can be broadly bifurcated into micro- and small-scale CHPs and large-scale CHPs. The latter of these segments has been witnessing overwhelming demand over the last few years. By revenue, the large-scale CHPs segment accounted for a share of 85.69% in the market in 2014. However, the segment is likely to lose a significant portion of its market share in the forthcoming years as the usage of small-scale CHPs increase globally. Growth exhibited by the micro- and small-scale CHPs is expected to be the fastest during the forecast period. Nevertheless, the increasing installation of CHP systems in developing nations such as India and China will keep the demand for large-scale CHP systems high during the forecast period.

Easy Availability of Natural Gas Boosts CHP Installations in Europe

Regionally, Europe exhibits the most lucrative prospects for the global combined heat and power installation market. The region held a share of 67.96% in the overall market in 2014. The easy availability of natural gas in Europe makes installation of CHPs relatively easier and more cost-effective. This has been spurring demand for CHP installations in countries such as Belgium, Germany, Poland, Italy, and Netherlands.

The leading vendors in the market are also exploring opportunities in Asia Pacific. The high demand for small-scale CHPs in Japan, coupled with their increasing installation across diverse industries, has been boosting demand for the CHP installation in the region.

The competitive landscape of the global combined heat and power installation market is highly fragmented. Some of the leading enterprises operating in the market include 2G Energy AG, Siemens AG, Edina Ltd., Wärtsilä Corporation, ENER-G Holdings Plc (ENER-G), Clarke Energy Ltd., and others.

Rampant Urbanization Impels Governments to Look for Alternatives such as Bioenergy

The bioenergy market includes products such as bioethanol, biogas, biodiesel, and others. These products are used for cooking, transportation, off-grid electricity supply, and for other purposes. The shifting focus of several countries towards green energies has put the spotlight on forms of bioenergy such as biodiesel and ethanol as suitable alternatives for operating vehicles. Furthermore, the increasing gap between depleting reserves of fossil fuels and the growing demand for energy has also forced nations to focus on the development of bioenergy as a means to reconcile the issue. Owing to these unwavering market drivers, the global bioenergy market is expected to be worth US$246.52 bn by 2024 as against US$158.39 bn in 2015. During the forecast period of 2016 and 2024, the global market is anticipated to expand at a CAGR of 3.40%.

Q. Who are the leading players in the global bioenergy market?

A. According to an extensive research report published by Transparency Market Research, the leading players in the global market are as E. I. du Pont de Numerous and Company Enerkem, Joule Unlimited, Gevo, Inc., LanzaTech, POET LLC, and Novozymes. To gain a bigger share in the global market, these companies are expected to expand their geographical reach in the coming years. Analysts also predict that these players are likely to explore vertical integration options to widen their product portfolio and win contracts for equipment and products that are required for making biofuels.

Q. What will drive the global market?

A. After the recent economic recession, economies across the world are grappling to earn to sustainable revenues through rapid industrialization. An obvious outcome of this is rampant urbanization, especially in the developing countries, that are witnessing a huge migration of population in search of better jobs and improved lifestyles. Both of these factors have had a cascading effect on the energy demands, creating a colossal conundrum of increasing carbon footprint. This has further complicated the issue of global warming as cities are contributing to higher pollution levels. In a bid to find sustainable solutions, governments and environmentalists are promoting the usage of bioenergy for various purposes.

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Q. How much will bioenergy contribute to the total energy mix?

A. Adoption of bioenergy is slowly gaining momentum as several consumers are realizing its properties such as renewability, reliability, and efficiency. The burning of bioenergy forms emits lesser greenhouse gases as compared to conventional resources, which is an important factor driving the demand for bioenergy across the globe. According to research analysts, bioenergy is expected to constitute 80% of the overall renewable energy mix in the coming years.

The growing inclination of government bodies towards increasing the adoption of bioenergy is projected to drive the global market in the coming years. For instance, The European Commission’s steady stance on biofuel policies is expected find ways to use biofuels as a sustainable energy source all through 2040. However, the market is being restrained by the possibility of excessive cultivation of cash crops that are the main source for production of bioenergy. This could threaten the pricing of agricultural products and result in issues pertaining to food security for several nations across the globe.

Global Biofuels Market: Bioethanol Market to Remain Most Significant Fuel Type, reports TMR

The global biofuels market, comprising of both bioethanol and biodiesel, is a highly fragmented arena. This is because several players in the oil and gas industry have started producing biofuels in response to increased demand for the same, which has resulted from volatile oil prices. Multinational companies such as Archer Daniels Midland, Cosan, LLC, POET, and DuPont operate across the value chain and are among the key players in the biofuels market, finds Transparency Market Research (TMR) in a new study.

The global biofuel market stood at a volume of 35.38 bn gallons in 2015 and is expected to rise to 50.92 bn gallons by 2019, expanding at a CAGR of 9.6% from 2013 to 2019. Based on fuel type, bioethanol will continue to lead the market until 2019, representing 82.8% of the overall volume. Due to the rapidly increasing number of diesel-fueled vehicles globally, biodiesel will expand at a higher CAGR during the forecast period.

“The development of substitutes such as petrodiesel and bio-methane is likely to pose a significant threat to the demand for biofuels in the coming years,” says the author of the report. High capital investment requirements in research and technology development and a strong brand presence of multinational companies are making it difficult for new players to enter the market.

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North America to Lead Overall Market

North America was the leading regional market in 2015. Due to increasing government initiatives to reduce carbon footprint from the transportation sector and reduce the dependence on foreign fuel sources, the region is expected to retain its dominance until 2019, holding 39.56% of the overall market volume. The market is broadly classified into bioethanol and biodiesels. While the Europe bioethanol market will rise at a significant CAGR between 2013 and 2019, the Asia Pacific biodiesel market will expand at a CAGR higher than other regions during the same period.

Rising Concerns Regarding Environment Pollution to Propel Demand for Biofuels

The increasing use of fossil fuels for meeting energy requirements to run industries and motor vehicles has caused environment pollution. The release of harmful gases such as CO2, CO, SO2, and CFC has raised the global average temperature. This has compelled several governments across the world to implement stringent environment regulations to cut down these hazardous emissions. This, in turn, is promoting the use of biofuels globally.

Biofuels act as a source of economic development by creating employment and infrastructure. “Biofuels production provides employment in value chain areas such as the generation, blending, and sales. This model of economic development can be thought of as a sustainable development model,” says a TMR analyst. This factor is, therefore, boosting the demand for biofuels. Other factors bolstering the growth of the global biofuel market are rising concerns related to energy security and increasing oil import and energy import bills.

Rising Food Prices Owing to Increasing Biofuel Production to Impede Growth of Biofuels Market

Globally, the increasing food prices are attributed to adverse weather conditions, increasing demand for food, growing usage of crops for biofuels production, and unfavorable government policies. Of these, biofuels are being considered the primary reason for causing an increase in food prices. The negative impact of this trend is likely to increase in the near future, thereby, restraining the growth of the global biofuels market. Moreover, the barriers related to development, distribution, and retailing of biofuels are challenging the growth of the market.

However, the development of sustainable biofuels using new technologies and policies that reduce the adverse effects of biofuels on the environment is estimated to present lucrative opportunities to the market in the forthcoming years.

The global biofuels market has been segmented as follows:

Global biofuels market: By fuel type

• Bioethanol
• Biodiesel

Global biofuels market: By form

Solid

• Pellet Fuel
• Biochar
• Biocoal

Liquid

• Bioethanol
• Biodiesel

Gas

• Biogas
• Syngas
• Bio propane

Marine Hybrid Propulsion Market:Growth Expected as Nations Implement Tighter Emission Norms on Vessel Operators, reports TMR

The global marine hybrid propulsion market is currently exhibiting a moderate degree of competition. Not many manufacturers in the global market owns capital-intensive businesses, which provides considerable opportunities for the entry of new players. Caterpillar Inc., BAE Systems Plc., and Aspin Kemp & Associates are a few of the prominent players operating in the market, finds Transparency Market Research (TMR), in a new study.

TMR forecasts the global marine hybrid propulsion market to exhibit a CAGR of 8.02% between 2014 and 2022. The market is projected to generate about US$2.77 bn by the end of 2016 and reach US$4.45 bn by the end of 2022.

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The leading companies operating in the market show a consolidated effort towards developing marine hybrid propulsion technologies. According to TMR, the threat of new entrant is poised to increase with time as companies start recognizing the importance of patented technologies and aim for brand loyalty among consumers.

Regionally, Europe and North America have been holding dominance in the global marine hybrid propulsion market. Europe is expected to take up over 31.4% of the market in terms of value by the end of 2022. Likewise, diesel-electric marine hybrid propulsion systems will continue leading the market in terms of system configuration through the forecast period. By the end of 2022, the segment is expected to reach US$2.24 bn.

Demand for Fuel Efficiency among Vessel Operators Augur Well for Marine Hybrid Propulsion Manufacturers

“The cost incurred on fuel constitute a substantial share in any vessel operator’s bill. This, coupled with fluctuating fuel prices, has compelled operators to explore options supporting reduction in fuel consumption,” states a lead TMR analyst. This is driving the installation of marine hybrid propulsion to enable vessel operators derive best out of the given power input.

The vessel operators are also under pressure to curb emissions. Stringent regulations are in place across developed economies in Europe and North America to ensure the same. With emission control norms getting more stringent, installation of marine hybrid propulsion systems is expected to increase considerably in the forthcoming years. For instance, the ECAs implemented by the IMO in 2015, reduced the limit of maximum sulfur emission from previous 0.5% to 0.1%. As marine hybrid propulsions provide the best technologies to cohere to the norms, their installation has considerably increased across small and medium scale vessels.

Rising Adoption of Clean Fuels to Dampen Demand for Marine Hybrid Propulsion Systems

Besides the technological advancements paving way for increased installation of marine hybrid propulsion systems, considerable improvements are made bolstering the adoption of cleaner fuels. Modern clean fuels are created with the technology that allows them being used in conventional marine propulsion systems. This provides vessel operators with an extremely cheap alternative over installing hybrid propulsion systems.

The threat of vessel operators opting for clean fuels over marine hybrid propulsion systems is expected to increase over time. This threatens the market’s growth potential to an extent.

ECA Declarations across Coasts Hold Promise for Market’s Growth

The marine hybrid propulsion companies still witness considerable opportunities to capitalize on. Recently, ECAs are implemented across North American waters and are likely to be implemented in the Gulf of Mexico, the Turkish Strait, the Strait of Malacca, and the Sea of Japan over the forthcoming years. “The stringency of ECAs will push vessel operators to invest in marine hybrid propulsion systems,” adds the analyst. This has been identified as a key opportunity for the market.

The report segments the global marine hybrid propulsion market as:

Global Marine Hybrid Propulsion Market, by Configuration

• Diesel-electric
• Parallel Hybrid
• Serial Hybrid

Global Marine Hybrid Propulsion Market, by End-users

• Ferries
• Tugboats and OSVs
• Defense Vessels
• Others

Global turbine inlet cooling systems market is projected to expand at a CAGR of 6% to reach US$13.17 bn by 2022.

With a few players exhibiting stronghold, the global turbine inlet cooling systems market has a fairly consolidated vendor landscape. Due to the prevailing monopolistic scenario, the degree of competition has remained relatively lower. However, the market is forecast to witness a spurt in growth in the forthcoming years, consequent to which competition among smaller players for increasing their market share is likely to intensify.

The global turbine inlet cooling systems market stood at US$7.8 bn in 2013. The market is projected to expand at a CAGR of 6% to reach US$13.17 bn by the end of 2022. By volume share, North America led the global turbineIn terms of units installed the mechanical chilling segment dominated the market with a share of over 62.85% in 2013.

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According to Transparency Market Research (TMR), occupying the leading share in the market, Mee Industries Inc. emerged as the dominant player in 2013. Other prominent players in the market are TAS Energy Inc., Stellar Energy, Caldwell Energy Inc., and Camfil. These companies together held a share of over 43% in the global market.

Benefits Provided by Turbine Inlet Cooling Systems to Spur their Installation across Industries

Deploying turbine inlet cooling systems holds promise to offer both economic and environmental benefits to power plant owners, which is a key factor supporting the strong growth of the market over the years. “Installing wet compression, chilling, and fogging systems enables optimal capacity utilization of gas turbines, which is encouraging the adoption of turbine inlet cooling systems across industries,” said a lead TMR analyst.

Furthermore, the market is considerably gaining from the increasing adoption of gas-fired power plants. Easy availability and the minimal impact on environment are the key factors encouraging the adoption of natural gas-fired power plants. Moreover, these plants are faster to set-up and have a compact to design, which is fuel their demand across the world.

Demand for Minimizing Power Outages to Drive Installation of Intel Cooling Systems across Industries

The increasing demand for minimizing power outages during peak loads will augment the market’s growth during the forecast period. The persistent increment in peak power demands and the declining turbine performance, especially during summers is the key reason behind power shortages. This subsequently leads to increased power outages, especially during the summer season. Hence the gas-fired power plants operators are considering various options for increasing their power output.

“Installing inlet cooling systems can ensure un-interrupted power supply, which could provide economic benefits to the plant owners,” observed the TMR report’s author. This in turn is projected to fuel demand for turbine inlet cooling systems during the forecast period.

Technological Shortcomings Present in Turbine Inlet Cooling Systems Could Negatively Influence their Demand

Despite witnessing positive growth, the existing shortcomings in the inlet cooling technologies are inhibiting the market’s trajectory to an extent. Several power plant owners often shift towards more effective solutions as the effectiveness of fogging systems reduces with the increasing humidity. This could decelerate the gains witnessed by the market. Moreover, both inlet fogging and wet compression technologies are unsuitable for application when dry bulb temperature falls below 100 Celsius. These factors cumulatively influence the decision of plant owners to look for effective cooling solutions in turbine, thus negatively impacting the overall market.

Market Sees Opportunities in Decentralization of Power Generation

Nevertheless, decentralization of power generation is expected to provide the market with ample opportunities to gain from in the forthcoming years. Earlier power generation followed a highly centralized model, with government utility as the major generator of electricity. However, the advent of innovative products has helped in decentralizing power generation across the world. This is creating significant opportunities for the market’s growth in the forthcoming years.

The information provided in the review is based on a report, titled “Turbine Inlet Cooling Systems Market by Technology (Inlet Fogging Systems, Mechanical Chillers, and Wet Compression Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022” published by TMR.

The report segments the global turbine inlet cooling systems market as:

Turbine Inlet Cooling Systems Market: Technology Analysis

• Inlet Fogging
• Mechanical Chillers
• Wet Compression

Global green energy market is poised to reach US$831.9 bn, rising at a CAGR of 8.3% By 2019

Green energy refers to energy synthesized from natural sources such as sunlight, rain, wind, tides, plants, and geothermal heat. Green energy sources have a negligible negative impact on the environment and are becoming popular as the substitutes of conventional energy sources such as oil, coal, and natural gas, which adversely affect the climate by producing pollutants. While green energy sources generate less than 20% of the world’s electricity, the capacity continues to grow steadily and an increasing number of countries are developing renewable energy installations.

The global green energy market is poised to reach US$831.9 bn by 2019, rising at a CAGR of 8.3% from 2013 to 2019. Geographically, North America will continue to be the leading market until 2019. The Asia Pacific green energy market is anticipated to exhibit a significant CAGR of 10.3% over the forecast period. The growth of this regional market can be attributed to increasing energy demands due to rapidly growing population, the rise in spending power of the consumers, and technological advancements pertaining to energy production.

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The report serves as a repository of analysis and information regarding various aspects of the global green energy market including value chain analysis, market dynamics, geographical segmentation, and competitive landscape. Historical data and current market scenario have been taken into account to derive the future trends of the market.

Overview of the Global Green Energy Market

The primary appeal of green energy resources is that they are capable of reducing carbon emissions in the power generation industry. The increasing awareness regarding environment conservation and energy security issues are driving the global green energy market. Moreover, the presence of supportive regulatory frameworks is promoting the use of renewable energy sources. Another factor fuelling the growth of the market is the increasing investments in research and development of energy-efficient products.

By type, the global green energy market is segmented into solar photovoltaic (PV), wind energy, geothermal energy, hydroelectric power, and bio-fuels. Hydroelectricity power was the leading source of energy by value in 2012 and due to a large pre-installed base capacity, the segment is anticipated to maintain its position until the end of 2019. However, the solar PV sector will expand at an impressive CAGR of 14.6% during the same period. Technological advancements and development of reliable, efficient, and innovative solar PV technologies at reduced costs are contributing to the growth of this segment.

On the basis of end-user, the market is segmented into industrial, commercial, and residential. The commercial sector will continue to lead the market in terms of revenue until 2019 owing to favorable government regulations and increasing compliance requirements. Due to rising awareness regarding green energy and increasing installations of solar PV at homes, the residential sector is expected to rise at a noteworthy CAGR of 9.4% during the forecast period.

The global green energy market is highly fragmented in nature and is characterized by high competitive rivalry. Several global and local players are competing across different green energy market segments. The significant growth rate of the market is attracting new players, thereby making the market a more fragmented arena.

Companies Mentioned in the Global Green Energy Market

Some of the key players in the market are Archer Daniels Midland Company, ABB Ltd., Alterra Power Corporation, Calpine Corporation, Enercon GmbH, Enphase Energy Inc, First Solar Inc, GE Energy, Hanwha Q Cells GmbH, JA Solar Holdings Co. Ltd., Kyocera Solar Inc, Nordex SE, Suntech Power Holdings Co. Ltd., Suzlon Energy Ltd., U.S. Geothermal Inc, and Yingli Green Energy Holding Co. Ltd.

The global green energy market is segmented as below:

Green Energy Market Segmentation

By Energy Type

Solar photovoltaic (PV)

Solar PV inverters

• Micro-inverters
• String inverters
• Central inverters

Wind energy

Hydroelectric power

Bio-fuels

Geothermal energy

Floating production systems Market is likely to rise at a CAGR of 17.20% By 2019

Boosted by the increasing oil exploration initiatives and offshore drilling, the global market for floating production systems is likely to rise at a CAGR of 17.20% between 2013 and 2019. The market, which stood at US$12.6 bn in 2012, is projected to present an opportunity worth US$38.7 bn by the end of 2019.

The global market for floating production systems is studied on the basis of the product and its geographical segmentation. Based on the product, the market is categorized into floating storage and offloading (FSO) unit, tension leg platforms (TLP), SPAR, and floating production storage and offloading (FPSO) systems. Based on geography, the market is classified into Asia Pacific, Europe, North America, and the Rest of the World.

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This research study on the worldwide market for floating production systems aims at presenting an all-inclusive market assessment, taking its past as well as current performance into consideration. The key trends and growth prospects of this market have also been studied in this report in order to determine its future status.

Overview of Global Floating Production Systems Market

Thanks to the significant increase in offshore drilling activities, floating production systems have been witnessing remarkable demand across the world since the past few years. The deepwater discoveries in Asia Pacific and the Rest of the World have also fueled the demand for these systems substantially across the world. With the increasing preference of FPSOs for the extraction of crude oil and offshore drilling, the segment is likely to gain prominence in the coming years. The advantages offered by FPSOs, such as the reduction in operational costs to oil companies by simplifying the transportation of crude oil, are also expected to add significantly to their demand over the next few years. TLP and SPAR are also projected to witness strong demand in the near future, thanks to the upcoming offshore drilling projects.

Geographically, African and South American countries, such as South Africa and Brazil, lead the global market for floating production systems market. Over the coming years, analysts expect these countries to remain dominant in terms of revenue.

Europe is also expected to experience a surge in demand for these systems. The increasing number of offshore projects in the U.K. and Norway is anticipated to boost the market for floating production systems in Europe. On the other hand, the rise in the population base and the heightening industrialization will drive the markets in Asia Pacific and North America in the near future.

Although the growth prospects of the global market for floating production systems are bright, the high installation and maintenance costs associated with these systems are likely to hamper the market to some extent.

Companies Mentioned in the Research Report

Malaysia Marine and Heavy Engineering Berhad, Hyundai Heavy Industries Co. Ltd., Mitsubishi Heavy Industries Ltd., Samsung Heavy Industries Co. Ltd., Bumi Armada Berhad, Keppel Offshore & Marine Ltd., SBM Offshore N.V., Technip S.A., Worley Parsons Ltd., and Teekay Corp. are some of the key manufacturers of floating production systems across the world.

Key Segments of Global Floating Production Systems Market

By Product

• FPSO
• TLP
• SPAR
• FSO

Global Oil Shale Market:Large Deposits of Oil Shale in U.S. to Propel Market at 27.34% CAGR By 2022

Oil shale denotes any sedimentary rock that contains solid bituminous materials and kerogen. These rocks release petroleum-like liquids upon heating through the chemical process. Volatile prices of crude oil have made governments and industries explore the commercial viability of oil shale-based oil production.

It is estimated that the global oil shale market will grow at a CAGR of 27.34% during the period from 2014 to 2022. The overall market generated revenue totaling US$1,134.60 million in 2013. With oil shale emerging as an alternative to conventional oil, revenue generated from the global oil shale market will reach US$7,400.70 million by 2022.

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Negative Environmental Impact of Mining Shale Oil to Restrain Global Oil Shale Market

Though oil shale is found in many places across the world, the largest deposits of oil shale are found in the U.S. in the Green River Formation, which covers parts of Utah, Colorado, and Wyoming. It is estimated that around 1.2 to 1.8 trillion barrels of shale oil is present in the Green River Formation range. The abundance of oil shale reserves with economic and non-economic benefits has driven the global oil shale market. Assurance of energy security to the countries lacking oil shale reserves has further propelled the overall market.

However, the relatively high cost of producing oil from oil shale has hindered ongoing oil shale mining activities. Mining and processing of oil shale also impacts the environment negatively. Disturbance of mined land, disposal of spent shale, use of water resources, greenhouse gas emissions, and negative impacts on air and water due to oil shale mining will negatively impact the global oil shale market.

The overall market has a huge opportunity to grow in the coming years with the commercialization of in-situ technology. Better technologies for the extraction of oil shale are expected to bring down the cost of oil shale. With the introduction of new technologies such as Red Leaf Resources’ In-Capsule Technology and Petrosix Technology, and new mining processes such as Kiviter process, Galoter process, and Fushun process, the price of oil shale is expected to reduce considerably.

Ex-situ Mining Process Yet to Achieve Commercial Viability

On the basis of mining processes, the global oil shale market has been classified into in-situ process or underground mining, and ex-situ process or surface mining. After mining, the oil shale is transported for retorting, which separates the oil fractions of oil shale from the mineral fraction. The present technologies involved in ex-situ retorting have not been commercially viable so far.

The global oil shale market has been divided into three major application segments: upgraded (diesel, kerosene, and jet fuels), non-upgraded (fuel oil), and electricity. Estonia is one of the major producers of electricity from oil shale. China are Jordan are also focusing to start oil shale power plants.

The global oil shale market has been divided into five key regions: Asia Pacific, Latin America, Europe, the Middle East and Africa, and North America. The large deposits of oil shale in the U.S. have led to the region’s substantial contribution towards the overall market.

Some of the key players in the global oil shale market are Chevron Corporation, BNK Petroleum Inc., Red Leaf Resources Inc., and Global Oil Shale Group Limited.

Global Effluent Treatment Plants Market Driven by Rising Quantity of Wastewater in End-use Industry Procedures

A new research report by Transparency Market Research highlights the factors restricting and driving the global effluent treatment plants market. The report also briefs readers about the reasons behind the rising demand for effluent treatment plants. The rising use of large quantities of water in many industries is resulting in huge quantities of wastewater. To save wastewater, governments of many nations have introduced new regulations of treating wastewater before discharging it to the water streams. The consistently rising wastewater and the changing government rules and regulations are predicted to propel the global effluent treatment plants.

The report, titled “Effluent Treatment Plants Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 - 2020,” states that growing number of industries setting up effluent treatment plants is a key factor benefiting the global market. As per the United States Environmental Protection Agency, effluent can be untreated or treated. Different industries use water for various treatment procedures such as washing, dilution, injection, and steam condensing. No matter for what reason the water is used, it is not fully consumed, thus is wasted. This water is then treated before being reused. For this, companies use effluent treatment plants.

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The rising environmental pollution concerns of waste water are also expected to propel the use of effluent treatment plants. The demand for effluent treatment plants is increasing from industries such as power, oil and gas, food and beverage, chemical, leather, paper, medical and healthcare, and others. Especially in the oil and gas industry, water is used for many purposes including hydraulic fracturing and heat transfer medium. The use of water, especially in hydraulic fracturing is increasing for the production of shale gas. This is expected to benefit the global market for effluent treatment plants.

Key manufacturers of effluent treatment plants are concentrating on understanding the needs of end-use industries. By adapting to changing trends and technologies, key companies are able to introduce new effluent treatment plants, thus maintain their dominance in the global market.

Nalco, WOG Group, Jet Inc., WPL Limited, Gee & Co Limited, Biwater, ETP Services Limited, Tirubala Tri Environment Pvt. Ltd., Toro Equipment, Gulf Industrial Services Company LLC, and ADI Systems Inc. are the key players listed in the report on the global effluent treatment plants market. As key companies operate in different regions across the globe, the global effluent treatment plants market has become highlight competitive and lucrative. By region, the global market is divided into Europe, Asia Pacific, North America, and Rest of the World.

Emergence of Smart City Concept in Developing Countries to Offer Lucrative Opportunities for Smart Grid Players

A smart grid provides a comparatively more secure and reliable electrical service, making it superior to conventional grids in terms of efficiency and control. The seamless communication system and distributed communication and computing in the power grid offered by smart grid technology has encouraged the growth of the global smart grid market. In addition, the increased efficiency acquired through optimization of the grid is expected to boost the demand for smart grids across the globe. As per a research study presented by Transparency Market Research, the global smart grid market is expected to grow from US$37.7 bn in 2012 and reach a value of US$118.1 bn by the end of 2019. The market is expected to register a notable 18.20% CAGR between 2013 and 2019.

In this blog, TMR offers answers to several vital questions related to the growth prospects, latest trends, and opportunities in the global smart grid market.

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Which regions will lead to most promising returns on investment?

As per the TMR research study, Asia Pacific is expected to be the most lucrative region for smart grid market players. The increased consumption of electricity in these regions and the high rate of urbanization are the key factors boosting the demand for smart grids in Asia Pacific. The need to introduce alternative measures to save and generate electricity in Japan, China, and India is supplementing the growth of the market.

What are the challenges faced by the key players in developed as well as developing economies?

One of the key barriers faced by the key players operating in the global smart grid market is the lack of proper standards for implementation of a new technology. The lack of these standards is expected to increase the probability of placing a commercial risk on customers and utilities and create complexity in technology selection. Furthermore, in developing regions, poor power distribution is considered as one of the primary factors impeding the global smart grid market. Despite a dynamic economy, several emerging nations are facing this problem, which needs high attention of respective governments. These factors are projected to restrict the growth of the global smart grid market in the coming years.

What factors are expected to change the dynamics of the global smart grid market?

The introduction of flexible and favorable regulations is one of the key factors expected to augment the growth of the global smart grid market in the coming years. The high level of quality and security of power supply offered by the implementation of smart grid technology is also expected to boost the demand for smart grids across the globe. The concept of smart city introduced by several emerging nations has been encouraging the use of smart grids, thus fuelling the growth of the global market.

In addition, prepayment of electricity is expected to create a promising market for smart grid in the coming years. Furthermore, the emergence of ERIGrid project to develop an effective smart grid system that can manage substantial inflow of renewable energy is expected to drive the global market. In addition, the U.S. Department of Energy Office of Electricity and Energy Reliability along with GridWise Alliance are developing industry-driven vision of the future smart grid with a view of developing a balance between demand and supply with ever rising energy demand.

Furthermore, governments across the globe are focusing on the use of more renewable energy sources. However, supply of renewable power, such as hydro, solar, and wind can be unreliable, thus making it challenging for grid operators to integrate them into the systems. This scenario warrants the need for microgirds, which can effectively integrate renewables into the smart grid, creating lucrative opportunities for key players.

Global Drill Pipe Market: Demand for Drill Pipe to Surge due to Flourishing Construction and Oil and Gas Industries, says TMR

The global drill pipe market is anticipated to witness substantial growth in the coming years owing to the high demand from numerous end use industry applications, states a new research report by Transparency Market Research (TMR). The report is titled, “Drill Pipe Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 – 2020.” It presents a complete study of current trends in the market along with upcoming opportunities that will ensure its growth. The report discusses factors that will drive the market and challenge its growth. In addition to this, the competitive landscape is discussed with important data pertaining to key players, strategies implemented by them, and their recent developments.

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The growth in the oil and gas sector is one of the major drivers of the global drill pipe market. This is because, oil and gas is one of the most significant end use industry for the drill pipe market. An increase in the demand for natural gas is leading to a growth in the drilling activities, which in turn is aiding the growth of the drill pipe market. Other factors expected to boost the market in the future include growth in the construction industry and high demand from developing economies.

There are a few challenges faced by the global drill pipe market, which are likely to impact the growth of the market. High production cost is one of the factors impeding the growth of the market. Growing environmental concerns regarding harmful emissions during oil and gas exploration activities will also impact the market negatively. This is expected to result in numerous regulations regarding the use of oil and gas, which will indirectly hamper the drill pipe market, states a TMR analyst. On the other hand, Asia Pacific is expected to provide ample opportunities of growth in the coming years. Countries such as China and India are expected to have a high demand for energy, which will emerge as an opportunity for players.

The report segments the global drill pipe market on the basis of geography into Asia Pacific, Europe, North America, and the Rest of the World. It also assesses which region will witness sluggish growth and the region that will experience significant growth. In addition to this, the report profiles key players such as Shanghai Hilong Drill Pipe Co. Ltd., Interdril Asia Ltd Superior Drillpipe Manufacturing Inc., RK Pipe LLC, TPS TECHNITUBE RÖHRENWERKE GmbH, Drill Pipe International LLC, DP Master Manufacturing Pte Ltd, and Tenaris Company.

Increasing Use in Public Transport Drives Demand for Fuel Cell Vehicles, says TMR

The key driver for the global fuel cell vehicles market is the growing awareness about the importance of environmental conservation, according to a new research study from Transparency Market Research (TMR). The report, titled ‘Fuel Cell Vehicles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,’ presents a detailed breakdown of the market’s historical development and its growth prospects in the coming years. A solid analysis of the historical and present figures regarding the global fuel cell vehicles market is used to present reliable forecasts regarding the market’s future development.

Fuel cells and hydrogen cells are among the latest technologies in the automotive industry aimed at reducing the greenhouse gas emissions from automobiles. Hydrogen cells are one of the most promising technologies invented in this endeavor, and have the potential to bring about comprehensive long-term change in the automotive industry.

One of the key drivers for the global fuel cell vehicles industry is the increasing government support to innovations that have a palpable impact on the total amount of greenhouse gases being released. Governments across the world, and particularly in the developed world, have recognized the importance of providing financial support to companies operating in the fuel cells industry, resulting in an increasing number of new entrants and capacity development initiatives from existing players. Continued government support is likely to be crucial for the fuel cell vehicles market in the coming years.

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The increasing adoption of fuel cell vehicles in public transport systems is another crucial driver for the global fuel cell vehicles market. Due to their high volume, public transport systems cumulatively account for significant quantities of greenhouse gas emissions, making the use of fuel cell vehicles an effective way of reducing the overall volume of emission. The sustained government support to the fuel cell vehicles industry will also help the global fuel cell vehicles market in this way, as public transport systems are usually run by governments and are governed by the regulatory framework set by the government.

The increasing instability in the prices of crude oil and the growing acknowledgement of the risk of petroleum reserves running out have also helped the demand for fuel cell vehicles. The reduced dependence on oil is not only environmentally more feasible, but also helpful in alleviating the trade deficit faced by many emerging companies. Apart from their benefits in relation to the current global dynamics, fuel cells offer inherent benefits such as silent operation and a high fuel-to-energy conversion ratio, which have also been instrumental in driving their demand.

The report profiles key players in the global fuel cell vehicles market to understand the competitive dynamics of the market. Leading companies examined in the study include Daimler AG, Nissan Motor Company Ltd., Ballard Power Systems, Cellkraft AB, AFC Energy, BIC Consumer Products, and Ceramic Fuel Cells Ltd.