HVDC Transmission Market 2019 Size, Top Leaders and Business Boosting Strategies till 2023

HVDC (High Voltage Direct Current) Transmission installation is witnessing exponential growth due to the increased demand for efficient transmission system as it is one of the major ways to improve efficiency of power transmission systems. HVDC systems play a major role in power transmission sector as it performs various functions including grid integration, underground transmission cables, fetching power from the offshore, and transmitting mass electricity through direct current. Besides, HVDC transmission systems are helpful in loss reduction by 30-40% than typical, alternate current transmission thus, enhancing the outputs of the power transmission systems. HVDC transmission systems have cost effective nature over economies of scale.

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Moreover, the power value chain has been witnessing considerable developments due to old age infrastructure getting obsolete and new technological advancements. Transmission loss reduction has been the prime area of interest for the transmission infrastructure manufacturers as that will make them major players in the market. Additionally, for offshore wind generators the HVDC transmission systems are best possible way to compete with convention electricity generators. HVDC transmission systems are expected to bridge the gap between supply and demand of electricity by asynchronous grid connectivity.

Segmentation

On the basis of application segment, HVDC transmission system is segmented in to underground transmission cables, offshore transmission systems, and asynchronous grid connections. Offshore HVDC transmission cables draw immense potential as they are capable of transmitting electricity at mass scale from the offshore wind generation source. For large scale grid connectivity, having asynchronous HVDC transmission is the best preference to balance the electricity production and consumption.

Global HVDC Transmission market is expected to progress at ~ 6.5% CAGR during the forecast period.

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Regional Outlook

Asia Pacific region is expected to dominate due to the increasing power demand, expanding grid connections and huge rise in the installed capacity, than any other region. The region is experiencing maximum number of HVDC transmission projects in areas such as China, India and Japan. For instance, Siemens has completed around 40 HVDC projects around the globe, out of which 10 projects were from China. Europe is likely to follow the market as the region is experiencing huge rise of installed capacity by 2030, which may increase up to 220 GW, than any other region. Favorable projects related to European Offshore super grid, which will connect to Northern Europe is the driving factor for European HVDC transmission market. Siemens AG, which a major player in this market has already completed six projects of range 60 km to 200 km underground and offshore cable installation in the European region, particularly France, Germany and North Sea. 

Leading Players

The key players of global HVDC transmission market are Seimens AG (Germany), Hitachi (Japan), ABB (Switzerland), Schneider Electric (France), Toshiba (Japan), and Alstom (France). General Electric (U.S.), DATC (U.S), Mitsubishi (Japan), NKT Holdings (Denmark), Adani (India), Nexans (France), Prysmian Group (Italy), and C-EPRI Electric Power Engineering Co., Ltd (China) are among others.

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Paralleling Switchgear Market 2019 Competitive Landscape, Growth Insights, Upcoming Opportunities and Regional Forecast 2023

Paralleling Switchgear Market Overview

Paralleling switchgear is a combination of metering, control & switching and protection elements acting as an integrated system to control the distribution of power for emergency systems, standby systems, critical operation power systems (COPS), and optional standby systems. 

A paralleling switchgear is designed and manufactured to deliver full control of custom-configured power generation systems. A paralleling switchgear integrates all facets of metering, protection, communication and controls to deliver peak performance, system reliability and operating economy. Increasing share of distributed power generation, maturing and overloading of power grids, and investment in industrial, commercial and utilities sectors are the major factors driving the paralleling switchgear market during the forecast period. However, cost constraint and complexity in control system are predicted to hinder the market growth over the forecast period.

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Global Paralleling Switchgear Industry Segmentation

The global paralleling switchgear market has been segmented based on voltage, application, end-use and region. Based on voltage, the market is segmented into low voltage, and medium voltage. By application, the market is segmented into prime, standby and peak shave. Based on end-use, the market is segmented into commercial, industrial, utilities and others. The paralleling switchgear market is projected to have enormous developments over the forecast period owing to continuous technological advancement in energy sector tied with rising power demand. The market is also likely to have huge expansion activities by global and well-established firms. Mergers and acquisition activities are anticipated to be seen during the forecast period with several contracts and agreements among the top EPC contractors and Governments across the globe.

The global paralleling switchgear market is expected to grow at ~ 5.5% CAGR during the forecast period.

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Asia Pacific Paralleling Switchgear market, expected to grow at the highest CAGR

The global paralleling switchgear market is segmented into four prominent regions of Asia Pacific, North America, Europe and Rest of the World. Asia Pacific region is projected to expand at the highest CAGR over the forecast period. This growth is accredited to industrialization & urbanization and upsurge in renewable power generation capacity in the region. Prominent countries such as China, Japan and India are propelling the paralleling switchgear market in the Asia Pacific region. North America and Europe held a considerable market share in 2016 and are anticipated to witness a stagnant growth over the forecast period. This growth is prominently attributed to a rise in conventional and non-conventional power plant. Also, industrialization has led to forming a productive market for the paralleling switchgear.

Leading Players

The key players of global paralleling switchgear market are General Electric Company (U.S.), Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), Rolls-Royce (MTU Onsite Energy) (U.K.), and Kohler Co. (U.S.). Pioneer Power Solutions. (U.S.), Regal Beloit Corporation (U.S.), Schneider Electric SE. (France), Advanced Power Technologies. (U.S.), Enercon Engineering, Inc. (U.S.), Industrial Electric Mfg (U.S.), and Russelectric Inc. (U.S.) are among others.

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Onshore Wind Energy Market predicted to grow at a CAGR of 27% by 2023

Onshore Wind Energy Market Scenario

The global onshore wind energy market is expected to expand at 27% CAGR during the forecast period. The demand for clean energy resources is increasing owing to the increased demand for electricity, and upcoming regulations unfavourable to conventional sources of energy. The continuous exploitation of renewable energy source has resulted in a higher number of wind energy projects around the globe. Innovation in the technology of wind turbines and wind parks has also added value to the onshore wind energy market. 

The power industry is the backbone of all the industries and the effects of urbanization and industrialization, are increasing the demand for power at a fast rate. For increasing the electricity installed capacity, power industry is shifting toward efficient, reliable and abundant sources that would consume less fuel and give higher energy.

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Industry Segmentation

Global onshore wind energy market has been segmented on the basis of end-use, application, grid connectivity, power capacity, wind capacity and region.

Based on end-use, the market is further segmented into utilities, commercial & industrial, hybrid power and others. Among these, the utilities segmented are expected to hold major market share. Since utilities are responsible to provide the electricity supply from the demanding sectors. There has been sharp increase in demand for electricity from last decade from the growing economies, thus utilities require more and more power to match the demand. Peak power management segment commands the largest market share by application type, the main reason being shortage of electricity during peak hours. Industries and factories need electricity during fixed working hours, which creates demand for energy during those hours.

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Regional Outlook

The global Onshore Wind Energy market is segmented into four prominent regions of Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific region accounted for the largest share of the Onshore Wind Energy market in 2017, wherein China was the largest country-level market followed by India, and Japan, followed by the prominent Southeast Asian countries, which have huge wind energy potential such as Vietnam, Cambodia, Myanmar, Philippines, and Thailand. Increased demand for electricity, and energy transition towards renewable energy along with huge potential in the region have resulted into a remarkable growth for Onshore Wind Energy. Asia-Pacific Onshore Wind Energy market is anticipated to have the highest CAGR during the forecast period. 

Leading Players

The key players of global onshore wind energy market are Siemens AG (Germany), Envision energy (China), General Electric Wind Energy (U.S.), Suzlon (India), Vestas Wind System A/S (Denmark), Enercon GmbH (Germany) Mitsubishi Power Systems (Japan), Nordex S.E. (Germany), Repower (Switzerland), Gazelle Wind Turbines (U.K.), and Clipper Wind Power (UK) are among others.

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Transformer Market Recent Development, Size, Trends and Demand by Forecast 2023

Transformer Market Scenario

Transformer systems have been governing the renewable and non-renewable energy markets in recent years owing to its ability to transmit & distribute the energy in the form of electricity through reducing the current ampere and increasing the voltage and vice versa, to supply power according to end-user needs.

Transformers cover a very diverse subject area that encompasses both, small and very large components. Transformers can be segmented on the basis of type as distribution transformer, power transformer and others, which includes instrument transformer. Transformer systems have been governing the renewable and non-renewable energy markets in recent years owing to its ability to transmit & distribute the energy in the form of electricity through reducing the current ampere and increasing the voltage and vice versa, to supply power according to end-user needs.

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Industry Segmentation

The transformer market has been segmented based on cooling type, power rating, type, insulation, and end-user.

On the basis of cooling type, Oil-Cooled Transformer accounted for the largest market share of 57.2% in 2016, with a market value of USD 22,493.1 million. It is projected to register the highest CAGR of 7.68% during the forecast period.

Based on power rating, Small Power accounted for the largest market share of 45.5% in 2016, with a market value of USD 17,881.3 million; projected to witness a CAGR of 7.57% during the forecast period.

Based on type, Power transformer accounted for the largest market share of 49.7% in 2016, with a market value of USD 19,540.5 million; projected to register a CAGR of 8.55% during the forecast period.

Based on insulation, Liquid-Immersed accounted for the largest market share of 58.6% in 2016, with a market value of USD 23,039.7 million; projected to register a CAGR of 7.61% during the forecast period.

Based on End-User, Utility accounted for the largest market share of 43.1% in 2016, with a market value of USD 16,938.5 million; projected to witness a CAGR of 7.79% during the forecast period.

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Leading Players

The key players of global transformer market are ABB Ltd., (Switzerland), Eaton Corporation plc (Ireland), Schneider Electric (France), Siemens AG (Germany), and Crompton Greaves Ltd. (India). Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), Bharat Heavy Electricals Limited (India), Hyosung Power & Industrial Solutions (South Korea) and SPX Transformer Solutions, Inc. (U.S.) are among others.

Scope of the Report

This study provides an overview of the global transformer market, tracking five market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for Americas, Europe, Asia Pacific and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global transformer market by type, by end-users, and by regions.

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Pad Mounted Transformer Market 2019 Global Industry Size, Opportunities and Forecast 2023

Global Pad Mounted Transformer Market Analysis

The global pad mounted transformer market is estimated to witness a CAGR of 5.14% during the forecast period.

Pad mounted transformer is a ground mounted electric power distribution transformer locked in a steel cabinet mounted on a concrete pad. Growth in demand for energy throughout the globe is driving the growth of the market. The healthy growth in the economy as well as in the population has led to the increase in power consumption. Thus, several countries are increasing and improving their electric grid infrastructure to accomplish this growing demand. Such developmental activities are likely to provide a various opportunity for pad mounted transformer market. However, availability of alternate technology, such as pole mounted transformer, may act as a restraining factor for the market.

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Asia Pacific region dominates the global pad mounted transformer market

Geographically, the global pad mounted transformer market has been divided into four major regions such as North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific region has accounted for the largest market share in 2016 mainly due to rapid industrialization and urbanization. Whereas, Europe is another major market for the pad mounted transformer. It is expected to expand at a slow pace during the forecast period. In Europe, the economies of countries in Western Europe are recuperating from their recent slump and are unlikely to invest in upgrading their power grid networks to smart grids. This provides a positive impact on the growth of the market. The U.K, Germany, Spain, and France are the major regions in the Europe pad mounted transformer market. In South America, Brazil, and Argentina are the major regions for the pad mounted transformer market. In Argentina, the government is in the process of commissioning large projects, both in the transmission and generation sectors. To meet the growing demand, it is estimated that around 1,000 MW of new generation capacity is needed each year. All these major factors are likely to boost the pad mounted transformer market growth during the forecast period.

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Competitive Landscape

Due to the existence of several well established and small players, the global market for pad mounted transformer appears to be highly competitive. Well-known players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain a competitive advantage in the market and maintain their market position. These key players compete on pricing and services. Vendors operating in the market strive to deliver the best quality products and services based on advanced technologies and best practices. These key players make a substantial investment on R&D and to secure a guaranteed resource for the customers.

Leading Players

The prominent players in the pad mounted transformer market include Schneider Electric (France), ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Co. Plc. (Ireland), General Electric (U.S.), Crompton Graves Ltd. (India), Olsun Electrics (U.S.), Pacific Crest Transformers (U.S.), Pearl Electric Co. Ltd. (China), ERMCO (U.S.), Federal Pacific (U.S.), Hitachi Ltd. (Japan), Vantran Industries Inc. (U.S.), Sunbelt Transformer, Ltd (U.S.), and Wenzhou Rockwell Transformers Co. (China).

Industry News

Helping to meet the growing integration of solar energy, GE's Digital Energy business has launched new three-phase, PROLEC-GE Solar Pad-Mounted Transformer. With this transformers, the energy coming from the solar inverter and generated by photovoltaic cells in solar farms will be transformed from low voltage to medium voltage.

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Hydrogen and Fuel Cells Market is predicted to grow at approximately 25.09% by 2025

Hydrogen and Fuel Cells Market Analysis

Market Research Future (MRFR), the global hydrogen and fuel cells market is motivated by a CAGR of 25.09% by 2025 and will witness a considerable hike in the years to come. The fuel cell is recognized as an electrochemical device that gets combined hydrogen with oxygen to generate electricity, heat, and water. The fuel cell resembles with a battery in which electrochemical reaction occurs until the presence of fuel. There is no occurrence of any harmful emissions in the process of response, which counts with an affirmative act, driving the market growth with a confident pull.

The hydrogen and fuel cells market is mainly propelled by factors such as increasing demand in the telecommunications, automotive and residential micro-CHP sector, and diminishing dependency on non-renewable energy sources. However, shorter resilience of the fuel cell is expected to hinder the market growth over the forecast period.

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The hydrogen and fuel cells market is gaining considerable impetus globally, while thankful for the recent infrastructural advancements in the field of hydrogen production. The upsurge in the adoption of electric and hybrid vehicles has also boosted the demand for hydrogen fuel cells, globally, reflecting a positive approach to the growth of the overall market.         

Hydrogen and Fuel Cells Market Prominent Players:

The key players of global hydrogen and fuel cells market are Panasonic Corporation (Japan), FuelCell Energy, Inc. (U.S.), Plug Power Inc. (U.S.), Intelligent Energy Holdings plc (U.K.), Hyster-Yale Group (U.S.), Ballard Power Systems. (Canada), Doosan Fuel Cell (U.S.), Nedstack fuel cell technology BV. (Netherlands), Hydrogenics Corporation (Canada), Pearl Hydrogen (China), and Horizon Fuel Cell Technologies (Singapore).

Hydrogen and Fuel Cells Market Segmentation

The global hydrogen fuel cells market has been segmented on the basis of type, applications, and regions.

By type, the market is further sub-segmented as air-cooled type and water-cooled type.

By applications, the market is further parted into stationary, transport and portable.

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Regional Outlook

By MRFR’s report analysis, the global hydrogen and fuel cells market has covered regions of North America, Europe, Asia Pacific, and Middle East & Africa.

Of these, North America had the largest market share in 2016 with a valuation of 753.1 million. The fuel cell deployments in this region have encouraged many R&D activities, supporting market growth. Moreover, federal tax incentives for FCVs, hydrogen infrastructure, and fuel cell stationary power generation, and investment by state governments have also propelled the use of fuel cell and hydrogen technologies in certain parts of the country.

The Asia Pacific is another largest hydrogen and fuel cells market holder owning a share of 28.47% in 2016 with a market value of USD 461.7 million by witnessing the growing population along with rising disposable income here in driving the demand for energy. Also, hydrogen and fuel cell is identified as the best replacement for conventional fossil fuel energy. This factor is taking the Asia-Pacific region to higher consumption of fuel cell and supporting the market tremendously.

Europe had a market share of 22.61% in 2016, with a valuation of USD 366.7 million. The European Strategic Energy Technology (SET) Plan identifies fuel cell and hydrogen technologies as crucial technologies contributing to reaching the ambitious goals of European energy and climate policy with a time horizon of 2020 and beyond.

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Concentrated Photovoltaic Market Share, Sales Revenue, Industry Analysis and Top Key Players by Forecast to 2023

Concentrated Photovoltaic Market Highlights

The global concentrated photovoltaic market is predicted to have a notable growth at 11.56% CAGR over the predicted years (2017-2023). Concentrated photovoltaic or CPV is a photovoltaic technology which produces electricity from sunlight. As opposed to conventional photovoltaic systems, this uses curved mirrors or lenses for focusing sunlight onto highly efficient, small, multi junction solar cells. Moreover, concentrated photovoltaic systems often utilize solar trackers and at times a cooling system to boost their efficiency further.

CPV is identified as the best substitute for other conventional fossil fuel energy sources that are used to reduce carbon emission by meeting the electricity needs. Concentrated photovoltaics (CPV) work well in high heat regions. It has been of most interest in power generation in sunny regions with DNI values of more than 2000 kWh/(m^2a).

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CPV electricity generation is dependent on DNI as it does not absorb any diffuse from the sun. This made CPV system more feasible in the high DNI region across the globe. It is expected that a high number of the CPV systems will be deployed in these sunlight rich regions. However, CPV tracking system synchronisation is the major challenge for the market. Tracking permits CPV systems to generate a greater amount of energy throughout the day in sun rich regions, notably during the late part of the day when electricity demand peaks. Currently, CPV tracking with sufficient accuracy and reliability is required. Improper tracking of CPV system results into less energy output and hence stands unfeasible in major regions, across the globe.

Market Segmentation

MRFR report offers a wide segmental analysis of the concentrated photovoltaic market on the basis of type and application.

Based on type, the concentrated photovoltaic market is segmented into low concentrated photovoltaic (LCPV) and high concentrated photovoltaic (HCPV). Of these, high concentrated photovoltaic will have the largest share in the market over the predicted years. This is owing to a big drop in the price of power generation projects and substantial improvement in the efficiency of specific modules.

Based on application, the concentrated photovoltaic market is segmented into utilities and commercial. Of these, utilities will dominate the market over the predicted years.

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Market Research Analysis

On the basis of type, HCPV accounted for the largest market share of 93.14%, with a market value of USD 950.3 million in 2016. A key reason for the increased installation of HCPV across large-scale power plants is the substantial enhancement in the efficiency of individual modules and a significant reduction in costs of the overall power generation projects. Low concentrated photovoltaic (LCPV) also has several advantages, such as its ability to reach high efficiencies even with diffuse irradiance, and its utilisation of less expensive and widely proven silicon solar cells.

Based on application, Utilities accounted for the largest market share of 85.16% with a market value of USD 868.84 million in 2016. Commercial segment is also another major application of the market. There are numerous benefits of CPV power installation at commercial sites such as, generation of electricity at the site itself, low electricity bills, minimised impact of rising energy costs and low carbon footprint. Hence, commercial segment is expected to grow at a CAGR of 10.76% during the forecast period.

Key Players

The key players of global concentrated photovoltaic (CPV) market are Radical Sun Systems, Inc. (U.S.), SolAero Technologies Corp. (U.S.), Arzon Solar LLC. (U.S.), Cool Earth Solar (U.S.), Morgan Solar Inc. (Canada), ARIMA Group (Taiwan), and Suncore Photovoltaic Technology Company Limited (China). Guangdong Redsolar Photovoltaic Technology Co. Ltd (China), Sumitomo Electric Industries, Ltd. (Japan), Saint-Augustin Canada Electric Inc. (STACE) (Canada), Sanan Optoelectronics Technology Co., Ltd (China), Suntrix Company Ltd (China), and Macsun Solar Energy Technology Co., Ltd. (China) are among others.

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Oil and Gas Waste Heat Recovery Market Size, Global Industry Share Focus on Company Profile and Future Strategic Planning till 2023

Global Oil and Gas Waste Heat Recovery Market Analysis:

The global oil and gas waste heat recovery market is estimated to witness 7.5% CAGR during the forecast period. Oil & gas waste heat recovery is the process of extracting and reusing heat from the streams of large energy produced during the refining process in the oil & gas plant. The continuous evolution in industrialization across the globe has resulted in the generation of large waste energy as a by-product.

The economic development of any developing country across the world is immensely dependent on its industrial growth. Energy and electricity are the vital factors in determining the operational cost of an industry. Thus, all industries are highly dependent on energy and electricity at reasonable prices. However, the current trend of inflating prices of input energy, such as oil, gas, coal, and electricity, is leading to the development of sustainable solutions, such as waste heat recovery.

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In upstream oil & gas segment, the need for heating process fluid is required in the Floating Production Storage & Offloading (FPSO) vessels, onshore processing units, and process platforms. This is primarily done by harnessing the waste heat available in exhaust gases, extracted from the gas turbine generator or process gas compressor drives. The decentralized power supply is also one of the prominent trends in the world’s growing demand for energy. Many regions across the world do not have access to centralized power supply. Despite this, the local infrastructure still demands electricity. Thus, an effective and efficient way to cater this energy demand can be highly derived from the waste heat energy recovery systems.

Asia Pacific Oil and Gas Waste Heat Recovery market expected to have the highest CAGR

The global oil and gas waste heat recovery market is segmented into four prominent regions, such as Asia Pacific, North America, Europe, and Rest of the World. The Asia Pacific region accounted for the largest share of the oil and gas waste heat recovery market in 2016, wherein China was the largest country-level market followed by India, Japan, and followed by the prominent Southeast Asian countries, such as Indonesia, Malaysia, and Singapore. The upsurge in natural gas infrastructure and development in manufacturing activity has resulted in a remarkable growth for oil and gas waste heat recovery in the region. Asia Pacific oil and gas waste heat recovery market is anticipated to witness the highest CAGR during the forecast period. The high level of strengthening of power generation, extraction of oil & gas, and upsurged demand from refineries are projected to open new opportunities for the suppliers in Asia-Pacific region.

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Leading Players

The key players in the global oil and gas waste heat recovery market are ABB Ltd. (Switzerland), Ormat Technologies (U.S.), General Electric Company (U.S.), China Energy Recovery (China), Bono Energia (Italy), HRS (U.K), Harbin Electric Company Limited (China), Dongfang Electric Corporation (China), Amec Foster Wheeler (U.K), Siemens AG (Germany), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc.(U.S.), Econotherm Ltd (U.K), Thermax Limited (U.K), and Cool Energy, Inc. (U.S.).

Scope of the Report

This research report provides insights into various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global oil and gas waste heat recovery market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market 

values and pricing & cost analysis.

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