Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global air separation plants market is estimated to value over USD 6,636 million by 2025 with a CAGR of 5.02% during the forecast period.
The global air separation plant is very competitive and is likely to experience expansion during the review period. The expansion of the air separation unit market 2020 is affected by product innovation and technologies. Moreover, increased demand for industrial and specialty gases has resulted in an expansion of the market at a global level. Moreover, the rapid industrialization in developing economies and increased usage of industrial gases in the PV industry and innovating technologies are estimated to propel the market during the review period. However, the expenses involved are a huge barrier to the expansion of the global air separation plants market. The expense of electricity is the most considerable operating price incurred in air separation plants. Apart from this, the electric motors that are used for the compression device, cooling system and heaters also add more to the cost. Additionally, the expensive cost of laser and infrared technology-based equipment for operation tracking in plants for the appropriate and efficient solution will add more to the overall expense. These factors are likely to bring constraints to the expansion of the global air separation market during the review period.
Market Segmentation
On the basis of application, the global air separation plants market has been classified as an oil and gas industry, chemical, metallurgy, paper, and others. In 2018, the metallurgy vertical reigned the market and was dominant throughout the period.
On the basis of process, the global air separation plants market has been classified into non-cryogenic and cryogenic distillation. Between these two processes, the cryogenic distillation process acquires the largest market share, followed by the non-cryogenic distillation process.
On the basis of type, the global air separation market has been classified into 20000 m3/h, 20,000-40,000 m3/h, 40,000-80,000 m3/h, and more than 80,000 m3/h. In 2018, the global market was dominated by 20,000-40,000 m3/h vertical and is anticipated to dominate throughout the review period. They are generally used in welding, heat treatment process, and pulp and paper industry. This is expected to increase the demand for 20,000-40,000 m3/h capacity type air separation plants in the global market during the review period.
Regional Analysis
In the Asia Pacific region, the increasing demand for industrial gases with high purity levels from end-use sectors such as chemical and petrochemicals, oil & gas industry has led to the expansion of the air separation plants sector. Additionally, strict safety and environmental regulations in the field of the healthcare vertical and as well as growing demand for photovoltaic products is affecting the demand for air separation plants.
Europe is a potential land for air separation plants under verticals such as by gas and process. European governments like Germany and France spend an enormous amount on technology and infrastructure for lessening the cost of capital and making the process efficient.
North America is one of the leading producers and distributors of cylinder filling plants, high purity oxygen and various gas producer for industrial, medical, and other applications.
Key Players
The major players of the global air separation plants market are Air Liquide SA, Linde AG, Praxair, Inc., Taiyo Nippon Sanso Corporation, Air Products and Chemicals, Inc., Messer Group GmbH, Enerflex Ltd., Technex Ltd., Universal Industrial Gases, and Gas Engineering LLC.
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Market Highlights
The offshore wind market size could possibly reach a solid valuation of USD 59.94 Billion by 2025, evaluates Market Research Future (MRFR). MRFR says that the offshore wind market outlook can expect to advance at a rate of 15.34% from 2019 to 2025 (appraisal period). We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been studied in the report, which offers an in-depth analysis post the coronavirus disease outbreak.
Top Boosters and Main Challenges
Volatile electricity prices along with the increasing space constraints with respect to solar energy and the affordable costs of construction and installation of offshore wind technology can result in industry expansion. Optimistic offshore wind market outlook in line with the integration of large-scale turbines along with product quality and efficiencies, progressing blade size and foundation techniques also bolsters the penetration of offshore wind technology. The worldwide offshore wind market forecast also benefits from the increasing spending on the development of technologically advanced manufacturing facilities and the mounting energy demand across emerging countries.
Market Segmentation
The market categories, depending on components, include tower, nacelle, turbine, electrical infrastructure, blades, and more. The highest gain in the offshore wind market outlook can be of the turbine segment, since in recent years, the energy generation has become extremely powerful with the emergence of modern turbine models that have bigger blade lengths. This way, more wind is utilized, more energy is generated and the overall cost comes significantly down.
Location-wise, the market sections can be transitional water, deep water and shallow water. At present, the leading segment belongs to the shallow water location, while the transitional water location can attain the fastest expansion rate of 10.86% between 2019 and 2025. The projects conducted in shallow water are generally lower priced given the ideal weather conditions.
Regional Insight
Europe controls the largest portion of the global offshore wind market share, with North America being the second leading region. The offshore wind market outlook in the UK is quite favorable, as a result of the number of energy security policies and initiatives, supportive government regulations and de-carbonization reforms. The high consumer awareness regarding the environment and the increasing expenditure by leading contenders on the exploration of the offshore wind energy potential also promotes substantial offshore wind industry growth across the region.
The North American market for offshore wind energy can emerge quite strong in the near future, on account of the massive investments going into the expansion of the offshore supply chain combined with the exploration activities of untapped sites. The favorable financial outlook along with the de-carbonization standards imposed by the government also encourages the business growth within the region.
Leading Companies
Some of the leading companies in the global offshore wind market include General Electric (US), Ørsted A/S (Denmark), Dong Energy A/S (Denmark), Suzlon energy Limited (India), EEW GROUP (Germany), MHI Vestas Offshore Wind (Denmark), Siemens Gamesa Renewable Energy, SA (Germany), ABB (Switzerland), ENERCON GmbH (Germany), Senvion SA (Luxembourg), Engie (France), Doosan Heavy Industries & Construction (South Korea), Goldwind Wind Energy GmbH (China), to mention a few.
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Market Overview
Market Research Future (MRFR), in its latest report on the Global Power Battery Management System Market 2020, discussed factors that control the market. An analysis of the COVID 19 on the battery power management system market is studied for the analysis of period is offered with the report. As per MRFR data, the expansion of the power battery management market is anticipated at 12.59% CAGR across the analysis period. The power battery management system market value is expected to reach USD 10042.04 Mn by 2025.
The power battery management system market can thrive in the years to come due to the pressing demand for renewable energy. The availability of renewable energy sources across the globe can promote the expansion of the power battery management system across the analysis period. The need to curb carbon footprint is adding to the momentum of the power battery management system market across the review period. The pressing demand for electric vehicles can also improve the impetus of the power battery management system market. The rise of the battery management system market in the analysis period can be attributed to advancements in battery-powered automobiles.
Market Segmentation
The segment assessment of the global power battery management system market are application and type.
The type based segments of the power battery management system global market are modular, distributed, and centralized. The Centralized segment can earn substantial revenue for the battery management system market. The increase in the need for centralized power battery management system that are enabled by printed circuit board with microchips can underpin the expansion of the power battery management system market in the year ahead. The growing popularity of Decentralized power battery management system can contribute largely to the expansion of the power battery management system market in the years ahead.
The application based segments of the global power battery management system market are specialty vehicles, grid energy storage, robots, marine, telecom, and datacom. The Grid energy storage segment can cause the power battery management market to rise at the review period. The rise in the cognizance about features of storing energy at the time of high energy demand over energy produced can underpin the expansion of the market in the years ahead. The Telecom segment can create high revenue for the power battery management system market owing to their application in the telecom sector to protect systems from any power fluctuations.
Regional Analysis
APAC, North America, EU, and MEA are regions across which power battery management system market trends are studied. The increase in renewable energy demand can support the expansion of Asia Pacific power battery management system market. The existence of different renewable energy sources across the region can boost the expansion of the regional market. The active execution of norms concerning the reduction of carbon footprint can bolster the expansion of the power battery management system market across the analysis period. India is expected to create considerable revenue for the power battery management system market. In North America, the power battery management system market can thrive at the highest pace across the analysis period.
Key Competitors
Hyundai Kefico Corporation (South Korea), The AES Corporation (US), ABB (Switzerland), Robert Bosch GmbH (Germany), Sedemac (India), AEG Power Solutions (Netherlands), Su-Kam Power Systems Ltd (India), Continental AG (Germany), Exide Industries Limited (India), Wärtsilä (US), Roboteq (US), Nuvation Energy (US), Lincad Ltd (UK), and Lincad Ltd (UK) are some noteworthy players of Power Battery Management System global market as listed by MRFR.
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Industry Insight
While 2020 is being an incredibly action-packed year for data analytics due to COVID-19 breakthrough, the Global Hydrogen Fuel Cell Market Growth is screening some positive instincts, when studied by Market Research Future. As per COVID-19 impact analysis, the market has the potential to show enormous growth, which is recorded at a rate of 25.09% and is capable of reaching a towering valuation by 2027. The growth period has been approximate from the years 2011 to 2027.
Top Grossing Factors
The prime factors that impact the growth of the global Hydrogen Fuel Cells Industry include a rise in government initiatives towards development of hydrogen fuel cell infrastructure, the surge in environmental concerns, the soaring initial investment in infrastructure, and technological advancement. These factors are liable to have a definite impact on the hydrogen fuel cell vehicle industry during the assessment period.
Some of the top-grossing companies such as Toyota, Honda, Daimler, Hyundai, BMW, General Motors, Audi, Ballard Power Systems, Volvo, and MAN have invested majorly to raise the market’s valuation since past decades. These are still investing to combat the spreading coronavirus disease as it has affected business worse. Further case predicts that rise in concerns of environmental degradation and depletion of natural resources, diverse technologies are being launched in the market supports the eco-friendly concept to sustain the environment. This factor has also been influential for the market’s growth.
Moreover, the boost in awareness toward the consequences of air pollution and rise in levels of traffic & greenhouse gas emission compel the adoption of hydrogen fuel cell vehicles, as it is eco-friendly than other conventional vehicles. To add in this, several policies have been deployed by the various governments to cater to environmental conditions. In case of point, the state of California in the U.S. committed funds for the development of 100 hydrogen refuelling stations to meet its target of 1.5 million zero-emission vehicles by the year 2025 which is motivating the growth of the hydrogen fuel cell vehicle market.
Leading Segments
The global hydrogen fuel cells market has further been segmented among the segments of type and application.
In terms of type, the market has incorporated the air-cooled type and water-cooled type.
In terms of application, the market has included stationery, transport and portable.
Leading Regions
The global hydrogen fuel cells market growth is studied in prominent regions that are Europe, the Americas, Asia Pacific and Middle East & Africa.
Americas was the first-largest market in 2016 and was valued at USD 753.1 million. The American countries, mainly the North American countries fuel cell deployments, have been optimistic from federal research and development (R&D) as well as demonstration programs. It is also supported by hydrogen infrastructure, federal tax incentives for FCVs, and fuel cell stationary power generation. All these factors are influencing the market to escalate, and which is why America's hydrogen fuel cells market is projected to develop at a CAGR of 24.72%.
The Asia Pacific is another primary hydrogen fuel cells market forecast. It accounted for a market share of 28.47% in 2016 with a market value of USD 461.7 million. Therefore, the mounting population, along with intensifying disposable income in the region, is driving the energy demand. Besides, the rapidly growing economies in the region are also top polluters in the world. Hydrogen Fuel Cells is known as the most elegant replacement for other conventional fossil fuel energy sources to reduce carbon emission efficiently by meeting electricity needs. Hence, Asia Pacific might grow at a CAGR of 27.09% during the forecast period.
Europe grabbed 22.61% market share in 2016, with a market value of USD 366.7 million. The European Strategic Energy Technology (SET) Plan marks fuel cell and hydrogen technologies as decisive technologies causative to reach the ambitious goals of the integrated European energy and climate policy with the year of 2020 and beyond.
In the Middle East & Africa region UAE, South Africa, and Saudi Arabia are the foremost countries. Augmented renewable energy activities to meet the energy demand are one of the essential reasons for expansion in the hydrogen fuel cells market in the Middle East and Africa.
Top Market Players
The critical players of global hydrogen fuel cells market are FuelCell Energy, Inc. (U.S.), Panasonic Corporation (Japan), Intelligent Energy Holdings plc (U.K.), Plug Power Inc. (U.S.), Ballard Power Systems (Canada), Hyster-Yale Group (U.S.), Hydrogenics Corporation (Canada), Nedstack fuel cell technology BV (Netherlands), and Horizon Fuel Cell Technologies (Singapore).
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Market Overview
Market Research Future (MRFR), in its latest wind turbine gearbox market share 2020 report, reveals several factors that can impel the expansion of the market. As per MRFR study, the global wind turbine gearbox market size is poised to reach a value of USD 8,630 Mn by 2025. The rise in the awareness of renewable sources and the high rate of depletion of fossil fuels are factors that are expected to boost rise of the wind turbine gearbox market trends. The energy and power industry, especially the wind segment holds lucrative opportunities for the market. The ability of turbine gearboxes to effectively handle the increase in the rotational power of blades can boost the expansion of the wind turbine gearbox market trends across the review period.
The reduction price of wind power generation owing to the robust investments made in the energy sector can generate significant revenue in the years to come. The need for culminate wind turbines installations can improve the developing economies. Changes in energy policies by different nations to improve sustainability, plus the increase in research and development efforts can prompt the expansion of the world wind turbine market. The high demand for the production of electricity, along with, the generation of designs of wind power turbines to increase the capacity of wind turbine can prompt the expansion of the market in the years to come.
Segmentation Analysis
The type based segments are yaw gearbox, main gearbox, and others. The main gearbox segment can rise at 6.44% CAGR across the forecast period. The yaw gearbox segment can rise at 6.57% CAGR in the review period.
The application based segments of the global wind turbine gearbox market are onshore and offshore wind power. The onshore segment can secure 92% market share and rise at 6.42% CAGR to value at USD 7,897.4 million by 2025. The offshore segment can value at USD 732.6 Mn by 2025.
The installation type based segments are new and replacement. The new segment value can touch above USD 4,476.1 million at 6.4% CAGR in the assessment period. The replacement segment can value at above USD 1,746.4 Mn by 2025.
By capacity, the segments are Up to 1.5 MW, 1.5 MW-3 MW, and Over 3 MW. The 1.5 MW-3 MW segment can rise high.
Regional Analysis
APAC wind turbine gearbox market can attain about 47% of the world market share in across the review period. In Europe, 32.04% is the estimates share, followed by North America 14.90% share. South America and MEA to secure 4.91% and 1.18% respectively. As per MRFR study, Europe wind turbine gearbox market growth can rise at 6.45% CAGR in the assessment period due to the high presence of topmost wind turbine producers in the UK, followed by the rest of Europe. EU market can rise at 6.58% CAGR through the forecast period. In South America, the wind turbine gearbox market trends is touted to rise at 6.53% CAGR through the study period due to prominent energy crisis. The regional market can value at USD 425.7 Mn by 2025 from USD 260 Mn that was in 2018. The region can get the highest demand for wind turbine by 2025.
Competitive Dashboard
MRFR recognized some prominent wind turbine gearbox market players. They are; Eickhoff Antriebstechnik GmbH (Germany), RENK AG (Germany), Siemens Gamesa Renewable Energy S.A. (Spain), ISHIBASHI Manufacturing Co. Ltd. (Japan), Winergy AG (Germany), China High Speed Transmission Equipment Group Co. Ltd. (China), Chongqing Gearbox Co., Ltd. (China), and ZF Friedrichshafen (Germany).
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