Concentrating Solar Power Industry - Key Opportunities, Trends, Developments and Forecasts to 2025

Global Concentrating Solar Power Market Synopsis

The growth of the global concentrating solar power market is impressive in the latest years, as Market Research Future claims that the market can cultivate at 11.46% CAGR from 2019 to 2025. The study has also included grossing factors, segmental analysis, and regional analysis, which could portray the market’s evolution during its growth period.

The prominent factors driving the global concentrating solar power market growth include growing awareness about eco-friendly power, need for renewable sources of energy, cost-effective energy, and low maintenance costs. However, the high cost of initial installation can limit market growth.

The notable factors driving the progression of the global concentrating solar power market include rising environmental concerns over carbon emissions and government initiatives to enable renewable technologies. The study comprises that according to EIA, solar surpasses biomass to become the third most prevalent renewable electricity source, which has led to augmented investment in major countries such as India, China, the US, Italy, and others globally to install solar panels to generate electricity.

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Segmental Overview

The segmental analysis of the global concentrating solar power market has been conducted on the elements of technology, components, and end-user.

In terms of technology: Parabolic trough, power tower, linear Fresnel, and dish/engine system. Among these, the parabolic trough segment is likely to lead the market during the assessment period. Due to this, the segment has its main application in end-use industries such as enhanced oil recovery, utilities, and mining, and many more.

In terms of components: Solar field, power block, and thermal storage are the segments. Among these, the thermal storage segment leads the market due to the capability to store thermal energy on a large scale, which enables power generation.

In terms of end-user: Utilities, EOR, and others are the segments. Among these, the utility segment is likely to record a sophisticated growth rate during the assessment period.

Key Players

The significant players operating in the global concentrating solar power market are listed as BrightSource Energy (US), Chiyoda Corporation (Japan),  Acciona Energy (Spain), Alsolen (Morocco), GE Renewable Energy (France), TSK Flagsol Engineering GmbH (Germany), ACWA Power (Saudi Arabia), SA (Spain), Abengoa Solar, Atlantica Yield PLC (UK), eSolar Inc. (US), SolarReserve (US), Enel Green Power (Italy), and Soligua (Italy).

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Regional Outlook

The regional segmentation of the global concentrating solar power market segments the market into the regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW).

Europe is a priority regional market due to new projects, government initiatives towards grid-scale renewable power generation, and a number of installation security of supply with an objective to reduce greenhouse gas emission. Many important market players are also based in Europe. Vital country-specific markets in this region are France, Germany, and the UK, followed by the remaining countries of Europe.

In North America, the market is significant due to established industries, government initiatives favoring eco-friendly methods of power generation, and the presence of many key market players in North America. In this region, the crucial country-specific markets are the USA and Canada.

During the forecast period, the Asia Pacific regional market is expected to grow at high speed due to major installations taking place in countries such as China and India.

The RoW segment lists the countries of the Middle East & Africa (MEA). In the MEA region, the market is limited due to poor countries, lack of awareness, lack of technological advancement, and lack of education.

Also Read: https://www.marketwatch.com/press-release/concentrating-solar-power-market-2019-global-industry-analysis-by-size-share-segment-growth-drivers-sales-revenue-key-players-opportunities-and-regional-outlook-to-2022-2019-03-20

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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String Inverter Market Demand, Key Opportunities, Trends, Forecasts, Key Players and Industry Analysis by 2022

String Inverter Market Synopsis:

Solar inverters harness solar power and have been witnessing technological innovations for improved efficiency. In this assessment offered by Market Research Future (MRFR), it has been unraveled that the global solar inverter market is poised to register 15.65% CAGR over the forecast period 2017 to 2023. The market is estimated to exceed a valuation of USD 24,000 Mn by 2023.

Increasing demand for power has led to a rise in the generation of power from renewable sources. Solar energy holds a significant share of the total renewable energy generated annually. This, in turn, is presumed to amplify the growth rate of the solar inverter market in the foreseeable future. Urbanization and industrialization are likely to intensify the demand for the product over the next couple of years.

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Global String Inverter Industry Segmentation:

On the basis of type, the solar inverter market has been segmented into central, string, and micro. Among these, the central type accounted for the largest share of the global market accounting for 45.12% share. It is expected to register a notable growth rate over the next couple of years. In addition, the string segment is also anticipated to witness demand generation in the years to come.

Based on system type, the solar inverter market has been divided into on-grid and off-grid. The on-grid segment is projected to lead the expansion of the global market across the projection period. It can be used as a power storage medium, which is likely to expedite its growth rate in the forthcoming years.

By the end-user, the solar inverter market has been segmented into residential, industrial & commercial, and utilities. Among these, the utilities segment currently holds the largest share of the global market. It is assessed to strike a CAGR of 16.85% over the assessment period.

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Regional Analysis:

The geographical evaluation of the global solar inverter market is included in this assessment on both regional and country-level basis. The regional segments identified are - North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW).

Asia Pacific holds the largest share in the generation of renewable energy on the global front. It is expected to drive the growth of the solar inverter market in the region. India, Japan, and China are anticipated to contribute significantly to the expansion of the market in the upcoming years. The rapid industrialization in the region is anticipated to drive the expansion of the market in the forthcoming years. The governments are investing in the generation of solar power, which is prognosticated to boost the revenue growth of the solar inverter market in the foreseeable future. In addition, the rising demand for power due to urbanization is also anticipated to lead the proliferation of the solar inverter market during the forecast period. Europe is also likely to benefit from the rising investments in the renewable energy industry.

Competitive Dashboard:

ABB Ltd (Switzerland), Canadian Solar Inc. (Canada), SMA Solar Technology AG (Germany), SolarEdge Technologies Inc. (Israel), Delta Electronics, Inc. (Taiwan), SunPower Corporation (U.S.), Solectria Renewables, LLC (U.S.), Hitachi Hi-Rel Power Electronics Pvt. Ltd (India), Sineng Electric Co., Ltd. (China), and Power electronics (Spain) are some of the key players of the global solar inverter market.

Also Read: https://www.marketwatch.com/press-release/string-inverter-market-2019-worldwide-overview-by-industry-size-share-product-phase-future-trends-growth-factors-leading-players-demand-and-forecast-to-2022-2019-10-22

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Steam Turbine Market 2019 Worldwide Overview, Key Players, Application and Regional Forecasts till 2023

Steam Turbine Market Scenario:

A steam turbine consists of a variety of auxiliary devices which help to convert steam into kinetic energy. Steam turbines are used for power generation in industries and to drive pumps and fans at petrochemical plants. Market Research Future (MRFR) has recently published a research report on the global steam turbine market and has asserted the market to reach a valuation of USD 19.21 Mn at a CAGR of 4.2% over the review period of 2017-2023.

Large-scale industrialization and urbanization across the globe are accompanied by towering energy demands, which is a key factor supporting the growth of the steam turbine market. Steam turbine finds widespread application as steam power generation involves lower operational cost and exhibits higher efficiency and output. Steam turbines are highly versatile and can be used across diverse industries such as power generation, nuclear plants, process plants, oil and gas, aviation, as well as domestic and smaller related industries.

The trend of modernizing aging coal plants with modern steam turbines and greater interest in CCGT plants for power generation has impacted the market positively. The progressive shutdown of various coal-fired facilities has affected the demand for steam turbines, but the demand has remained resilient due to the introduction of clean coal technologies. Various power producers have been able to identify opportunities for steam turbine installation to reap the benefits of incremental improvements in single power stations’ operations. Rapid conversion of open-cycle gas turbine (OCGT) plants to CCGT mode has also been a boon for the market growth.

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Segmentation

The steam turbine market has been segmented based on plant fuel, capacity, exhaust type, and end user industry.

By plant fuel, the steam turbine market has been segmented into Coal, Gas, Nuclear, and others.

By capacity, the steam turbine market has been segmented into Up to 120 MW, 121-750 MW and Above 750 MW.

By exhaust type, the steam turbine market has been segmented into Condensing steam turbines and Non-condensing steam turbines.

By end user industry, the steam turbine market has been segmented into Power & Utility, Industrial and other.

Competitive Landscape

Siemens AG (Germany), Elliott Group (U.S.), Toshiba Corporation (Japan), Fuji Electric Co., Ltd.,( Japan), Man Diesel & Turbo SE (Germany ), Alstom SA (France), General Electric (U.S.), ABB (Switzerland), and Mitsubishi Hitachi Power Systems (Japan) are the notable players in the steam turbine market.

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Regional Analysis

Region-wise, the steam turbine market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).

The APAC region is likely to remain the most lucrative for the growth of the steam turbine market. In APAC, the demand for electricity is rising fast, and coal-fired power generation has continued to sustain despite deep emission concerns, in part, due to, the abundant supply of coal in the region, Moreover, coal powered generation is relatively simple to operate and durable.

Conversely, coal-fired generation capacity has been markedly reduced in Europe and North America, and these markets are likely to showcase moderate growth over the forecast period.

Other factors supporting the growth of the steam turbine market include the advantages provided by steam turbines such as the reduction in CO2 emissions, energy efficiency, and low cost. Steam turbines are a key technology in the nuclear sector. Consolidation of nuclear sector in various developing countries and various proposed nuclear developments are likely to boost the growth of the steam turbine market.

Also Read: https://www.marketwatch.com/press-release/steam-turbine-market-2019-global-survey-growth-share-company-profiles-development-strategy-technologies-comprehensive-analysis-trends-and-forecast-by-regions-2023-2019-07-03

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Directional Drilling Market To Growth Be Spurred By Escalating Demand By 2023

Directional Drilling Market – Overview

The need to increase production from the harshest wells has raised the growth of directional drilling considerably. Market reports related with the energy and power industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is projected to expand with a 3.48 % CAGR in the forecast period.

The escalation in discoveries related to the oil and gas industry along with shale activities have raised the use of directional drilling substantially.  The capability of directional drilling to enable the drilling of multiple wells from the parent wellbore are raising the growth potential of the market. Moreover, the escalated level of demand from upstream oil companies will create new prospects for the directional drilling in the upcoming years.

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Segmental Analysis

The segmentation of the directional drilling market has been carried out on the basis of application, well type, services, and region.

On the basis of application type, the directional drilling market is segmented into onshore and offshore.

The segmentation of the directional drilling market on well type comprises of multilateral wells, horizontal well, and extended reach wells.

The services-based segmentation of the directional drilling market consists of logging while drilling (LWD), rotary steerable system, measurement while drilling (MWD), and motors.

The regions included in the directional drilling market are Europe, North America, Asia Pacific and rest of the world.

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Regional Analysis     

The regional analysis of the directional drilling market consists of regions such as North America, Europe, Asia Pacific and rest of the world. The market for directional drilling is poised for excellent development because of the recovering global oil prices. The North American and European regions are likely to control the market for directional drilling. These regions are witnessing a huge number of oil exploration activities in the Gulf of Mexico and the North Sea, which will lead to elevated drilling activities in these regions. In addition, the huge number of mature oil wells from the North Sea in the European region and the Permian Basin and Bakken in the North American region are expected to require new drilling activities thus, motivating the directional drilling market. The African and the Middle Eastern region are also anticipated to observe vital growth over the forecast period owing to the mounting exploration activities together with growing demand for fuel from developing nations.

Competitive Analysis

The crucial companies in the directional drilling market globally are National Oilwell Varco (U.S.), Weatherford International Plc. (U.S.), Jindal Drilling & Industries Limited (India), Halliburton Company (U.S.), Schlumberger Ltd (U.S.), Nabors Industries Ltd (Bermuda), Baker Hughes Incorporated (U.S.), Cathedral Energy Services Ltd (Canada), and Gyrodata Incorporated (U.S.) are among others.

Industry Updates:

Feb 2019 Sandvik Mining and Rock Technology has recently introduced its new model DE712 which is appropriate for both directional drilling and geotechnical drilling. The rig features a volume of 1,126 m depth in N size and is offered in both, crawler- and truck- based configurations making it effortless to transport across the site. Its exposed and accessible design enable maintenance and service tasks fast and uncomplicated.

Also Read: https://www.marketwatch.com/press-release/directional-drilling-market-prognosticated-to-accrue-with-a-whooping-cagr-by-2027-asserts-mrfr-2019-01-10

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Electric Motors Market: Sales Revenue, Key Players Analysis, Opportunity Assessment and Regional Forecast to 2023

Electric Motors Market Synopsis:

As per Market Research Future (MRFR)’s assessment, the global electric motors market is anticipated to thrive at a CAGR of 6.2% during the forecast period 2017 to 2023. The market is majorly driven by an increase in demand for energy efficient electric motors. Increased usages of electric motors in the rapidly growing agricultural sector are also expected to contribute to the growth of the market. The increase in the use of electric motors by various industrial machinery and household appliances is projected to drive the growth of the market, too.

Electric motors are widely used for applications in HVAC, compressors, pumps, machine tools, electric cars, etc. It is anticipated to pave its way across more domains in the years to come. This, in turn, is expected to boost the growth pattern of the electric motors market over the assessment period. Also, the growth of the end-user industries is likely to reflect on the future trajectory of the market. It is presumed to propel the expansion of the electric motors market across the review period.

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The increasing use of electric motors in the booming automobile sector alongside, various other end-user industries is a key factor fostering the growth of the electric motors market during the forecast period.  Ever since its invention, electric motors have become a subject of extreme importance for modern engineers. These devices have brought about some of the biggest advancements in the fields of engineering and technology.

Global Electric Motors Industry Segmentation:

By motor type, the global electric motors market has been segmented into AC, DC, and hermetic. The AC segment has a larger consumer base which is likely to support its dominant position in the marketplace over the assessment period.

By voltage, the electric motors market has been segmented into upto 1 kV, 1 kV–6.6 kV, and above 6.6 kV. Among these, the upto 1 kV segment contributes significantly towards the development of the market. It held the maximum market share in 2016 and is forecasted to become the fastest growing segment between 2017 and 2023. Its growth can be primarily attributed to its wide range of small-scale applications in the end-user industries.

The global electric motors market, by output power, has been segmented into upto 1 hp, and above 1 hp. The upto 1 hp segment, which accounted for maximum market share in 2016, is expected to exhibit the highest CAGR across the review period.

By end-use, the electric motors market has been segmented into industrial, commercial, residential, agriculture, and transportation. Among these, the residential segment is projected to grow significantly owing to the exponential population growth and rapid urbanization.

Browse Complete Electric Motors Market Research Report at: https://www.marketresearchfuture.com/reports/electric-motors-market-2376

Competitive Landscape

Well-established, the electric motors market appears to be competitive due to the presence of several large and small players.  Players incorporate strategic initiatives acquisition, partnership, collaboration, expansion, and product launch. These initiatives help them to gain a competitive advantage as well as to maintain their positions in the market.

Manufacturers emphasis on innovations in terms of product development and new manufacturing processes. Besides, high growth prospect demonstrated by the market would attract several new entrants to the market. Resultantly, the competition in the market is expected to intensify further due to many product launches and the entry of several new manufacturers.

Competitive Dashboard:

The key players of the electric motors market profiled in this MRFR report are ABB Ltd. (Switzerland), General Electric Company (U.S.), Siemens AG (Germany), Nidec Corporation (Japan), ARC Systems, Inc. (U.S.), Allied Motion Technologies, Inc. (U.S.), Denso Corporation (Japan), Ametek, Inc. (U.S.), Emerson Electric Co. (U.S.), Robert Bosch GmbH (Germany), Hitachi, Ltd. (Japan), Rockwell Automation (U.S.), Johnson Electric Holdings Limited (Hong Kong), WEG S.A. (Brazil), and Toshiba International Corporation (U.S.)

Global Electric Motors Market - Regional Analysis

The Asia Pacific region leads the global electric motors market. Factors such as the economic upsurge, advancements in the agricultural sector, and proliferation of electrical appliances in the region drive the growth in the market.

Recent boom in the manufacturing industries in the region is considered as a key driving force behind the growth of the regional market. The increasing emphasis on the adoption of energy efficient electric motors across end-uses in the region would contribute to the growth of the APAC electric motors market. 

On the other hand, the electric motors market in developed regions such as North America and Europe are expected to witness enormous growth.  These regions are becoming increasingly aware of the advantages of these energy- efficient, cost-effective electric motors.

Moreover, diversification of the agricultural industry in North America and Europe has been pushing up the growth of the electric motors market. Furthermore, growth in the industrial, commercial, residential, and automotive sector in these regions positively impacts the growth of the market.

Also Read: https://www.marketwatch.com/press-release/electric-motors-market-2019---global-industry-size-current-scenario-value-share-emerging-trends-potential-growth-sales-revenue-segmentation-and-forecast-to-2023-2019-10-04

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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