Rising global energy demand, highly volatile oil & gas prices, increasing complicated regulatory and environmental pressure have put great "deal" to other alternative energy sources in this decade. There is increased awareness and commitments across ....see more
The report defines and segments the offshore cranes market with analysis and forecast of the global capex on offshore cranes application, design type, and lifting capacity. The offshore crane market is expected to grow from an estimated USD 14.19 Billion in 2015 to USD 21.64 Billion by 2020 at a projected CAGR of 8.8%. The market is driven by the increase in offshore spending and rising demand of oil & gas, which is met by increasing investments in emerging economies with proven oil & gas reserves.
The global motor protection market size is estimated to be around USD 5.09 Billion in 2015, and is expected to grow at a CAGR of 6.86% during the forecast period. Factors driving the motor protection market include global rise in demand for motors and growing concern towards its safety and growth in HVAC system. Major offshore oil & gas developments and rising expenditures in the water & wastewater industry are the major opportunities of the motor protection market.
The diesel generator, a combination of diesel engine with electrical generator, is a reliable power supply device. It is used for generating electricity to provide continuous power supply during power interruptions. It is mostly used as a standby device during power outages or at places with no connection to a power grid. Factors driving the diesel generators market include increasing need for uninterrupted & reliable power supply and increasing number of power outages. The diesel generators market is expected to grow from an estimated USD 13.06 Billion in 2015 to USD 16.96 Billion by 2020, at a CAGR of 5.4% from 2015 to 2020.
Factors driving the combination starter market include the increasing demand for pumps, low cost & compact nature of combination starters, and growing concerns regarding motor control and protection. The global combination starter market size touched USD 687.1 Million in 2014, at USD 926.6 Million by 2020, and is expected to grow at a CAGR of 5.19% from 2015to 2020. The global combination starter market has been primarily segmented on the basis of its type which includes reversing and non-reversing. Secondly it has been segmented on the basis of power rating into up to 7.5KW, 7.5-75 KW and above 75 KW.
Factors driving the steam turbines market include increase in electricity consumption and demand from emerging economies, and the consequent capacity expansions carried out by utilities in the region, particularly thermal power capacity. The global steam turbines market size was estimated to be around USD 14.8 Billion in 2014, at USD 19,292 Million by 2020 and is expected to grow at a CAGR of 4.4% during the forecast period. The steam turbines market is segmented on the basis of its type, application, rated capacity, exhaust type, and region.
Global energy production has increased over the past decade, from 15,409.0 TWH in 2000 to 23,536.5 TWH in 2014. This has also led to the increasing need for expanding T&D networks globally; new T&D infrastructure needs USD 1.9 Trillion in cumulative investment by 2024 to meet the growing energy demands. This includes substations, power lines, and associated equipment and new technology. Governments worldwide are investing in T&D network expansion projects, increasing the demand for power transformers. The power transformer market is projected to reach USD 29.9 Billion by 2020, from USD 20.7 Billion in 2015, at a CAGR of 7.6% during the forecast period.
Offshore drilling includes services related to drilling wells including type of the rig required, depth and direction of well to be dug and services and expertise required to accomplish the desired goal. Offshore drilling market is estimated to be $78.57 Billion in 2014 and is projected to grow with a CAGR of 4.54% from 2015 to 2020. Crude oil prices which have witnessed a sharp decline in the last one year are expected to increase to USD 80/ barrel by 2018. This rebound in oil price will be spurred by the delay in capacity addition as the oil & gas companies are currently shelving new projects to reduce their capital expenditure. With the increase in the price of crude oil, the investments for E&P activities will also increase which will lead to new projects in regions that are looking to overturn their production decline such as Europe and Asia-Pacific. This will in turn create further demand for the offshore drilling in these regions.
Global oil and gas production has increased over the last five years, from 81.15 Million barrels per day in 2009, to 88.67 Million barrels per day b 2014. This has led to the supply for oil & gas exceeding its demand which has ultimately caused a decline in the prices of crude oil during the last six months of 2014. Consequently, the oil and gas operators have reduced their capital expenditure outlook for 2015 citing concerns over low profit margins. This reduction has mainly impacted the upstream exploration and production (E&P) activities. However, the declining production from onshore oilfields in countries such as Russia, the U.K. and India among others has resulted in higher demand for exploring new offshore reserves. Drill pipe which are used to support drilling and exploration activities are expected to grow at a CAGR of 3.8% to reach USD 1,133.8 Million by 2020 from USD 940.62 Million in 2015. In this report, 2014 is considered as the base year and 2020 is considered as the forecast year. The report covers the grade of drill pipe as well as the application segments.
Fault current limiter technology provides a perfect solution to control fault current levels on utility distribution and transmission networks. The device remains invisible unlike reactors which possess some resistance during normal operation. This technology increases the efficiency and reliability of the electrical system and eliminates wide area blackouts, reduce localized disruptions, and improve recovery time when faults do occur. Global fault current limiter market is projected to grow at a CAGR of 9.2% during 2015-2020, to reach a value of USD 5.2 Billion by 2020.
The global HV capacitor market has growth opportunities owing to increasing electric demand in developing economies such as India, Brazil, and China, which are expected to enhance their grid infrastructure to increase the electricity accessibility to the region’s population. In addition, rapidly increasing demands from various application industries and regions are generating several exciting markets opportunities for HV capacitors. These drivers are expected to push the HV capacitors market size from USD 133.86 Million in 2014 to USD 218.84 Million by 2020 with a CAGR of 7.8% from 2015 to 2020. The report also provides insights about the major players of the market.
A DC drive is an electric device used to regulate the speed of a DC motor by controlling the input voltage and/or amperage to the DC. Its major advantage includes operational cost savings by reduction in energy consumption and increase in the service life of DC motors. DC Drives market is estimated at USD 2.1 Billion in 2015, and is projected to reach USD 2.3 Billion by 2020.
Global modular substation market targets the compact and modular substations available in the market. These substations replace the conventional substation with modernized equipment and better power distribution in the networks. Global modular substation market is estimated to be at USD 10.78 Billion in 2015 and is projected to reach USD 16.48 Billion by 2020, at a CAGR of 8.85% from 2015 to 2020.
Sectionalizer is a protective device that is used to isolate a faulted section of line from the rest of the distribution system. It is mostly used in distribution networks because of its properties to reduce outages and supply reliable power. The global sectionalizer market was valued at USD 1.03 Billion in 2014. It is expected to reach USD 1.29 Billion by 2020.
The global Dry Type Transformer market is expected to reach USD 5.38 Billion by 2020 from USD 4.16 Billion in 2015, at a CAGR of 5.3% between 2015 and 2020. Transformers are electrical devices that transfer energy between two or more circuits through electromagnetic induction. Dry type transformers have their windings enclosed in sealed and pressurized tanks, and are air cooled. Dry type transformers provide safety against fire and leakage, which also reduces environmental and health concerns. These types of transformers are moisture proof and have better impulse and short circuit strength. Dry type transformers have wide applicability in domestic as well as industrial segments.
Power cables & accessories are the basic requirement for transmission and distribution of electricity from the point of generation to the point of consumption. Depending on the application, power cables are classified into four voltage categories: low voltage, medium voltage, high voltage, and extra-high voltage. Global low voltage cable & accessories market was valued at USD 99.2 Billion in 2014. It is projected to grow at a CAGR of 7.0% from 2015 to 2020.
The increasing demand for renewable sources for energy generation and rapid industrialization has played a huge part in providing the necessary boost to the global small wind power market. The market for global small wind power has also expanded owing to the increasing energy demand and growing concerns over environmental impacts of power generation through fossil fuel. The global small wind power market is estimated to reach USD 1.89 Billion by 2019, with a projected CAGR of 19.5%, signifying a steady increase in the demand for small wind power.
Frequency converter is used in varied end-use industries depending on the frequency requirement of the equipment connected to the converter. The end-users of frequency converters, considered for study include aerospace & defense, power & energy, oil & gas, traction, process industry, marine/offshore, research & testing laboratories, and grid interconnections among others. Differences in electrical standards of mains electricity supply worldwide, international trading, and an increase in the demand for energy-efficient frequency converters are driving the market. The global frequency converter market is projected to reach USD 23.2 Billion by 2020, from an around USD 15.0 Billion in 2015, at a CAGR of 9.1% from 2015 to 2020.
Converter transformer market is mainly driven by the increasing demand from fast growing economies such as India, and China which are expected to invest heavily in their transmission and distribution sector. Upgrade of ageing power infrastructure in the developed regions as well as increasing implementation of renewable power projects are also expected to provide attractive opportunities for the converter transformer market. This market is expected to grow from an USD 1 Billion in 2015 to USD 2.3 Billion by 2020 at CAGR of 18.2%.
The global power metering market has huge growth opportunities owing to increasing demands from developing economies such as India, Brazil, and South Africa. The governments would enhance grid infrastructure, which would be done by installing more towers, so that more number of people have access to electricity. The power metering market is projected to reach USD 17.8 Billion by 2020, at a CAGR of 8.9% from 2015 to 2020.
Vacuum contactor is an electrically controlled switch that is used to make or break an electrical circuit with the help of vacuum interrupter, relay and fuse. It is mainly found in motor starters, switchgear and control gear of medium voltage fast switching devices. The global vacuum contactor market size is estimated to reach $4,814.6 Million by 2020 from $3,426.8 Million in 2015. The drivers of the vacuum contactor market are influenced by the trends in the process industries, manufacturing industries, commercial and large residential sectors that use HVAC systems.
There is an increasing demand for electricity is the large markets such as China, India, and Brazil, globally. Transfer switch are used for providing back-up power solutions for various critical industries such as healthcare, telecommunication, IT, datacenters, and among others. Factors including fluctuating whether conditions, industry applications, infrastructural developments, need for uninterrupted and reliable power are expected to drive the global transfer switch market. The market is expected to reach $1,470.9 Million by 2020, at a CAGR of 6.6% from 2015 to 2020.
Disconnect switch is predominantly used to isolate the electrical circuit or equipment from its source of power to perform maintenance. It can also be used as a switching device when incorporated with a fuse. Disconnect switches are used in power distribution and industries to perform repair and maintenance on the machinery by disconnecting them from electrical energy source. Disconnect switch forms an essential part of switchgear in transmission and distribution lines and are used for varied applications. The global market for disconnect switch is projected to reach $12.6 Billion by 2020, at a CAGR of 7% from 2015 to 2020. The market has been analyzed by type, mount, voltage, application, and region.
Subsea pumps are employed majorly in the offshore mature fields to improve the recovery rate by reducing back-pressure on the reservoir, thereby lowering the production expenditures. The report focuses on the subsea pump market based on its various types and applications for different regions. The global subsea pumps market is projected to reach $1,773.7 Million by 2020, at a CAGR of 11.3% during the forecast period 2015-2020.
High voltage equipment becomes the integral part of the transmission and distribution network. Power transmission includes equipment such as transformers and reactive compensation, breaker, protection and control and communication equipment and others. Continuously growing energy demand will continue to be the central market driver for transmission equipment. Market for high voltage equipment is projected to reach over USD 116 Billion by 2020, at a CAGR of 5.6% from 2015 to 2020.
The planar solid oxide fuel cell (SOFC) is a high-temperature electrochemical device that converts chemical energy to electrical energy. Unlike other fuel cells, the electrolyte used in SOFC is solid in form, which enables design and fabrication in various forms and shapes. Planar SOFC is a subtype of SOFC wherein the cell is a sandwich structure arranged in stacks, as opposed to the tubular SOFC, which is tubular in shape. Asia-Pacific is expected to be a lucrative market with an estimated market size, by value, of $139.4 Million in 2015 and a projected value of $ 251.7Million in 2020.
The oil & gas industry has witnessed significant growth in last decade due to increasing E & P activities throughout the world, when oil prices were priced above $100 per barrel. However, the recent crude oil price drop has slowed down the industry. Brent crude prices fell down to $47.7 per barrel in January 2015, from $108.1 per barrel in January 2014, which is close to 60% change. It is expected that this slump would slowly recover in the coming years with the focus of the industry being shifted to efficiency and optimization. Downhole tools still find their importance in terms of increasing production efficiencies and intervention jobs. The global downhole tools market is expected to reach a value of $4.49 Billion by 2019, at a CAGR of 4.9 % from 2014 to 2019.
Increasing population and better living standards in developing countries have led to a surge in energy and infrastructural demands. The total world population was 7.3 Billion in 2014, and is expected to grow at a rate of 1.14% per year. Emerging economies such as China, India, and Brazil are trying to develop infrastructure to provide their people the basic amenities. This is likely to boost the construction market of these countries, thereby augmenting the Hydraulic Power Unit (HPU) market in the region. Asia-Pacific held the largest share of approximately 34% in 2013, followed by North America, which held 22% of the total market share in the same year, and is expected to grow at a CAGR of 4.3% during the forecast period. The HPU market is estimated to reach $6.0 Billion at a CAGR of 5.6% from 2014 to 2019.
With increasing demand for drilling rigs, the top drive market is expected to grow as they are directly proportional to the number of drilling rigs installed. Top drives are used for onshore or offshore rigs, and can be hydraulic or electric. Earlier, the use of top drives was uncommon and rotary table/Kelly was used for the same purpose. It is used to facilitate the drilling process of a borehole. It is situated on a drilling rig, provides torque to the drill string, and makes the drilling process easy. The global top drive market is estimated to reach $1,541.3 Million by 2020, at a projected CAGR of 5.7% during the forecast period, indicating a high demand in onshore and offshore applications. The electric top drive market is estimated to reach a value of $1,381.3 Million whereas the hydraulic top drive market is projected to reach $160.3 Million by 2020.
Growing importance to water and wastewater treatment by national governments and increased production from pharmaceuticals and chemical processing industries are expected to drive the global dosing systems market. It is estimated to reach $5.3 Billion by 2019, at a CAGR of 5.0% from 2014 to 2019. The African and Middle East markets are expected to have high growth due to the diversification of economies and reduced dependence on oil; these regions are expected to witness high growth during the forecast period.
Generator circuit-breakers are connected between a generator and the step-up voltage transformer. They are generally used at the outlet of high power generators (100MVA to 1800MVA) in order to protect them in a reliable, fast, and cost-effective manner. These circuit breakers allow the passage of high permanent currents under continuous service (6.3kA to 40kA), and have a high breaking capacity (63kA to 275kA). They belong to the medium voltage range. The drivers of the generator circuit breakers market are entirely influenced by the power transmission and generation industry. Growth in the related as well as complementary markets, such as switchgear and transformer, also contribute towards the growth of generator circuit breakers. The generator circuit breakers market size is estimated to reach $302.30 Million by 2019 from $267.58 Million in 2014.
Global voltage regulators market for power distribution is projected to grow from USD 1.9 Billion to USD 2.4 Billion at a CAGR of from 4.7% 2014 to 2019. Increasing expenditure on power transmission and distribution infrastructure by utilities, along with growing demand for electricity from industrial and domestic sectors are some of the key drivers of voltage regulators market across the world.
The shale gas boom coupled with growing demand of energy with increasing drilling activities in offshore and unconventional exploration and production activities is expected to drive the North America completion equipment and services market. It is estimated to reach $5.27 billion by 2019, at CAGR of 2.5% from 2014 to 2019. Latest and highly advanced technology is required in the U.S. Gulf of Mexico and Canada. High growth in deepwater and ultra deepwater explorations in these regions is expected to push the demand for completion equipment and services market in North America.
Feeder automation is a constituent of distribution automation system, which principally focuses on remote monitoring and control of the distribution systems & their equipment. Distribution feeders include control devices, most common being the shunt capacitors to meet local volt-ampere reactive (VAR) requirements or support voltage regulation. Growing demand for energy, coupled with increasing investment in automation activities, is expected to drive the global feeder automation market to $3,445.0 Million by 2019, at a CAGR of 7.2% from 2014 to 2019.
The Middle East and Africa power rental market size is estimated to reach $9,048.25 million by 2019 from $3,942.07 million in 2014. The major factors responsible for driving the growth of this market include the increasing demand of power in the respective regions. The Middle East market remains the largest market for power rental. Widespread construction and developmental activities are driving growth of the power rental market. The permanent power producers’ inability to meet the power demand especially during extremely hot weather conditions, are considered as opportunities for the Middle East and Africa power rental market. Rising imports of low cost Chinese generators and upcoming power generation projects through renewable sources such as solar, wind and biomass energy in the Middle East and Africa can limit the growth of power rental market in the region.
The oil industry has steadily moved deeper in offshore wells to tap oil reserves in order to satisfy the increasing energy demand. This trend is a function of depleting onshore reservoirs, as well as the demand for maximizing the oil production from the existing fields. Further, while the discoveries have increased over the last ten years, they continue to fall well short of production by a considerable gap. For instance, according to IEA, 12 billion barrels were discovered in 2012, whereas only 40% of the oil was produced during the same year. Therefore, oil companies are looking for the most impactful projects to add reserves which are located offshore in deep water.
A packaged substation is an integral part of the electric power distribution system. The power sector offers a promising future with growing demands for electricity, following increasing urbanization and industrialization in the developed as well as developing nations. Packaged substations form a crucial part in the power sector across distribution and equipment protection segments. The global packaged substation market is projected to exhibit high growth on account of growing urbanization and rise in the number of upgrades on electrical infrastructure, influenced by increasing energy demand. The market is expected to be valued at $6.89 million globally in 2014. It is projected to grow at a CAGR of 10.19% during the forecast period.
The Asia-Pacific submersible pumps market is projected to grow at a CAGR of 6.4% from 2014 to 2019. China was the single-largest market for submersible pumps in 2013, holding 29.1% share, and is set to continue its dominance till 2019. It is likely to emerge as the fastest growing market during the forecast period, exhibiting a CAGR of 7.0% from 2014 to 2019, followed by India at 6.9% and Indonesia at 6.7% during the same period.
Waste is an inevitable by-product of drilling activities in the form of cuttings and mud. The increasing demand of energy and growing environmental concern is driving the solid control equipment market. Solid control equipment optimizes the drilling efficiencies by reducing fluid losses. The American Petroleum Institute (API) has estimated that approximately 1.21 barrels of total drilling waste fluids are generated for every foot drilled including solid cuttings.
The global offshore drilling rigs market value is expected to reach $102,473 million by 2019, growing at a CAGR of 9.27% from 2014 to 2019. Some of the factors responsible for this growth include increasing expenditure on exploration and production and the rising demand for energy from emerging economies like Africa, Brazil, and the U.S. Gulf of Mexico. The key concerns for the offshore drilling rigs industry include various environmental concerns and other related government regulations.
Industrial valves market in Middle East and Africa is being driven by increasing demand for valves in oil & gas, chemical and municipal applications. The industrial valves market is expected to grow at a CAGR of 5.7% between 2014 and 2019. The market for oil & gas is estimated to be one of the fastest growing markets for industrial valves from 2014 to 2019.
Produced water can be defined as the intensive and complex mixture of organic and inorganic compounds produced plenty while the production of the oil & gas from the reservoir. The global Produced water treatment market size is estimated to exceed $8.0 billion by 2019. The major factors responsible driving the growth of this market include the energy sector growth in Africa and the Middle East along with, increasing strictness of environmental policies.
The use of carbon fiber is expected to grow at a fast rate as the trend for larger blade sizes takes a firm hold in the global market. The wind turbine rotor blade market is projected to grow at a CAGR of 9.2% from 2014 to 2019. In 2014, the market was dominated by Asia-Pacific, which had more than 54% of the total installed blades in the world. The region is projected to remain the most attractive market through to 2019, even as South America along with the Middle East and Africa are set to witness promising growth rates.
The global Coriolis meters market is estimated to reach $1,932.5 Million by 2019 at a projected CAGR of 11.04% during the forecast period, indicating a high demand in oil & gas, chemicals & petrochemicals, food & beverages applications. By 2019, the liquid usage market is estimated to reach $1,521.4 Million, whereas gas usage market is projected to reach $411.1 Million.
The market is segmented on the basis of types of Well Cementing Services and applications of well cementing services. These are further broken down into different geographies. Leading players of this industry, along with their recent developments and other strategic industry activities, are profiled in the report. The top five companies are Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), Trican Well Service Ltd. (Canada) and Calfrac Well Service Ltd. (U.S.).
The Asia-Pacific air quality control systems market is expected to cross $45.94 billion by 2019, growing at a CAGR of 6.7%, from 2014 to 2019. In terms of market size, China stood first followed by Japan, India, and South Korea in 2013. Increasing number of coal-fired power plants and cement manufacturing industries have increased the emission of exhaust gases and toxic pollutants, creating a huge demand for air quality control systems in major countries like China and India. Between 2014 and 2019, China is expected to witness the growth at a CAGR of 6.6%, to reach $35.55 billion by 2019, up from $22.65 billion in 2013.
This report analyzes and projects the market for power system state estimators by value. The global market has been broken down into regions, which cover all major geographic markets. The global power system state estimator market is estimated to reach $5.87 billion by 2019 from $3 billion in 2014, with a projected CAGR of 14.35%, signifying a high demand for state estimator and increasing concern for energy savings.
The growing demand of energy with increasing investments in offshore and unconventional exploration and production activities is expected to drive the global wireline logging services market. It is estimated to reach $25.46 billion by 2019, at a CAGR of 10.3% from 2014 to 2019. The countries in Asia-Pacific and Africa have demand for the latest and highly advanced open hole and closed hole wireline logging services. Thus these regions are expected to experience highest growth in the next five years.
Natural gas storage plays a significant role in managing the reliability of supply needed to meet the demands of consumers. A decade ago, natural gas was a regulated commodity; storage was a part of the bundled product sold by the pipelines to the distribution utilities. Ground Storage facility that includes LNG, Americas have the highest liquefaction capacity in comparison to Asia-Pacific, which dominates the market in regasification capacity. Over the next five years, the global LNG requirement is expected to increase by an additional 279.7mtpa. By 2019, the global liquefaction capacity is expected to be 704.9 mtpa.
The shale gas processing equipment market is estimated to reach about $5,769.9 Million by 2019, signifying a firm growth rate of over 16.3% from 2014 - 2019. The value of this market is estimated in terms of $million and this has been broken down into geographical regions, and further split into processing components.
The global turbogenerator market is expected to cross $10 billion mark by 2019, growing at a CAGR of 0.7% from 2014 to 2019. In terms of market size, Asia-Pacific stood first followed by Europe and North America in 2013. Rapid industrialization in the emerging countries of Asia-Pacific has led to increased demand for power, thus creating demands for new power plants. Between 2014 and 2019, the region is expected to witness the highest capacity additions though to reach $6.62 billion by 2019.