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Market Overview :
Lubricants Market Value was estimated at USD 125.81 billion during the forecast period that ended in 2019. Owing to the market trends and the changing dynamics, the market is expected to grow at a CAGR of 2.5% during the ongoing forecast period of 2021-2028.
Lubricants are capable of decreasing heat, wear, and friction when introduced as a film between sold surfaces. They exhibit superior properties such as corrosion protection, smooth functioning of mechanical parts, and demulsibility, which make them suitable for use in a wide application such as construction, marine, industrial, automotive, and others. Moreover, they are used to achieve optimum efficiency, and always ensure that everything from the main engine to secondary equipment runs smoothly irrespective of the work environment.
Some of the prominent factors that positively influence the growth of the lubricants market are rising construction and building activities in developing countries, increasing consumer spending on passenger cars, and growing consumption of bio-based lubricants. Furthermore, growing consumer awareness regarding the harmful effects of synthetic lubricants has shifted the consumer influence towards bio-based lubricants. Hence, increasing consumption of bio-based lubricants is estimated to drive the overall lubricant market over the estimated period. Moreover, increasing population along with increasing building & construction activities are driving the consumption of lubricants, which is predicted to propel the growth of the market.
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Market Segmentation:-
The global lubricants market is segmented on the basis of type, application, and region. On the basis of the type, the market is classified as mineral oil, bio-based, and synthetic lubricants. Among these, mineral oil type segmented accounted for the largest market share and is predicted to retain its dominance on account of ease in availability and relatively low cost. The synthetic segment is estimated to register the highest growth due to their advanced properties. Bio-based type segment is predicted to register a healthy growth due to rising environmental concern along with the implementation of stringent regulations on the usage of synthetically derived lubricants in many developed countries.
On the basis of the application, the market is categorized into industrial, automotive, marine, construction, and others. Industrial segment is further classified into metalworking fluids, general industrial oils, process oils, and industrial engine oils. Automotive segment is categorized into gear oil, passenger vehicle oils, heavy-duty engine oils, hydraulic & transmission fluids, and others. Among them, automotive accounted for the largest market share and is estimated to retain its dominance on account of rising automotive production and sales across the globe. Increasing per capita disposable income along with growing demand for a personal vehicle is estimated to drive automotive segment.
Regional Analysis
The Asia Pacific is estimated to be the largest lubricants market followed by Europe and North America on account of increasing demand from numerous end-use industries such as automotive and construction among others. In the Asia Pacific, some of the important factors resulted in the regional market growth are continued economic growth rate, competitive production costs, and ease of availability of raw material. North America is predicted to witness a moderate growth during the assessment period due to growing demand for onshore activities. Emerging economies of Latin America and the Middle East and Africa is estimated to witness above-average growth owing to growing end-use application.
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Competitive analysis
- Royal Dutch Shell PLC. (the Netherlands)
- Exxonmobil Corporation (U.S.)
- Chevron Corporation (U.S.)
- Total S.A. (France)
- Sinopec Lubricant Company (China)
- Petrochina Company Limited (China)
- BP PLC (UK)
- JXTG Group (Japan)
- Idemitsu Kosan Co. Ltd (Japan)
- FUCHS (Germany)
- PETRONAS (Malaysia).
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued…
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Market Scope
Solar Panel Recycling Market is projected to be worth USD 718.8 million by 2028, registering a CAGR of 32% during the forecast period (2021 - 2028)., The market was valued at USD 197.87 million in 2020.
The leaning towards renewable energy sources amid the energy crunch and initiatives put forth by governments on solar power plants can drive demand for solar panels. Solar panels are low maintenance and provide relief to soaring electricity bills. The Solar Panel Recycling Market report compiled by Market Research Future (MRFR) stresses on growth engines and hurdles to be faced for the industry for the period of 2018 to 2023 (forecast period). It contains estimations on growth and revenue during the forecast period and the hurdles put forth by the COVID-19 pandemic.
The strong interest towards the renewable energy sector coupled with rising investments in solar power generation is likely to catalyze the expansion of the solar panel recycling market over the assessment period. Investments are expected to flow towards solar advance technologies and open up new growth avenues for the market participants. Additionally, the thriving rate of PV installation has paved the way for rising volume of decommissioned PV panels. This, in turn, is poised to expedite the proliferation of the solar panel recycling market in the foreseeable future.
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The support extended by governments for reduction of carbon footprints through large-scale solar power generation and a bevy of incentives and subsidies are expected to influence the expansion of the market positively over the next couple of years. Furthermore, the developing economies and their promising potential to emerge as major country-level markets in the forthcoming years can fuel the market growth.
The COVID-19 pandemic had brought the industry to a standstill with old solar equipment lying in heaps. But the easing of restrictions and adherence to environmental standards can bring about a resurgence of the global solar panel recycling market.
But the high cost of energy storage is likely to hold the growth of the solar panel recycling market over the assessment period.
Segmentation
- By type, it is segmented into thin-film solar panels, monocrystalline solar panels, polycrystalline solar panels, and silicon solar panels.
- By process, it is segmented into laser, thermal, and mechanical.
- By shelf life, it is divided into normal loss and early loss.
Regional Analysis
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are the biggest regions analyzed in the global Solar Panel Recycling Market Growth.
Europe is estimated to lead in the market owing to maximum environmental reforms and large number of solar farms. The expiring shelf-life of solar panels and technological advances in waste management can drive the demand in the global solar panel recycling market. Germany is touted to be the leading generator in the region owing to shift to alternative sources of energy generation. According to PV Cycle, the volume of solar panels to be recycle can reach 50,000 tons by 2030. The rollout of programs such as Cabriss and Circusol for repair and promoting reuse of components in the solar panel industry value chain can favor the market.
APAC and North America are expected to regions for large potential for the global solar panel recycling market. Investments in research and development and patents on new recycling technologies can drive the market demand in APAC. But the lack of regulations or mandates on recycling in the U.S., China, India, and Japan can hinder the market growth.
Competitive Outlook
- Canadian Solar Inc
- Reclaim PV Recycling
- First Solar
- Rinovasol Group
- Silrec Corporation
- Silcontel
- ECS Refining LLC
- Yingli Energy Co
- Reiling GmbH & Co
- Zorlu Holding
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Key Buying Criteria
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
4.6 List Of Assumptions
Continued…
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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The MCHP (micro combined heat and power) market witnesses increasing traction across the globe. MCHP technology is a key innovation in chip packets, improving the operation of electronic devices. Its diverse application areas, including data center & enterprise networking, industrial automation, consumer electronics, automotive, and telecom, drive the market growth.
The market growth attributes to the increased transition in energy systems with the increased focus on advanced methods of power generation escalate market increase. According to Market Research Future (MRFR), the global MCHP (micro combined heat and power) market is poised to grow at around 15.5% CAGR throughout the review period (2018-2023).
Over the recent years, due to the augmenting demand for small chip modules to improve operations of electronic devices, the MCHP market has been growing continually. The demand for improved energy-efficient electronics devices and reduced carbon emissions fosters the growth of the market. The chip also finds vast applications in gaming consoles, set-top boxes & digital televisions, and embedded telecom systems, which influence market growth.
Additionally, the increasing uptake of MCHP chips in electronics products offers ample opportunities to chip manufacturers. Furthermore, the growing demand for MCHP units from some of the burgeoning end-use industries such as medical devices, telecom, and automotive positively impacts the market growth. Conversely, the lack of technical expertise and continuous innovation in manufacturing processes are significant factors projected to impede the growth of the market.
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Nevertheless, the burgeoning consumer electronics sector supports market growth throughout the review period, demonstrating the largest adoption of MCHP units. Moreover, the growing energy system in terms of generation source by having decentralized systems from a singular generation source.
Governments of countries worldwide are also supporting decentralized energy systems as it keeps the market competitive, and energy demand is also fulfilled. Due to the augmenting demand for power and focus on reducing carbon footprints, governments support the installation of the MCHP system, which further enhances the growth of the market.
Global Micro Combined Heat & Power Market - Segments
The report is segmented into four dynamics;
By Type : Engine and Fuel-Cell.
By Technology : PEMFC, Internal Combustion Engine, Rankine Cycle Engine, Stirling Engine, SOFC, and others.
By Application : Commercial and Residential.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Micro Combined Heat & Power Market - Regional Analysis
Europe dominates the global micro combined heat & power (MCHP) market. The largest market share attributes to the government initiatives to control the rising clean and efficient energy systems concerns. For instance, the European Union has implemented the Energy Efficiency Directive at the country level to promote the MCHP market by increasing CHP projects while facilitating demand response and simplifying grid connection procedures for MCHP installations.
Besides, the cold weather conditions in Europe drive market growth, creating a substantial demand for heating solutions from residential and commercial buildings. Moreover, the growing healthcare industry in the UK, Germany, France, and Italy supports the growth of the regional market. Also, huge spending in the defense industry to get long-term solutions for high end, demanding devices fosters the growth of the market.
The Asia Pacific region stands second in the global MCHP (micro combined heat and power) market. The market growth is attributed to the augmenting demand and increased sales of MCHP systems. Additionally, the vast productions and widening adoption of MCHP technology in respective electronic products boost the regional market growth.
Developing countries substantiate market growth, becoming major markets. The APAC MCHP market is expected to create a substantial revenue pocket during the review period.
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Micro Combined Heat and Power Market - Competitive Analysis
Highly competitive, the MCHP market appears fragmented due to the presence of several well-established players. To gain a substantial competitive share, players incorporate strategies such as acquisition, collaboration, partnership, expansion, and product & technology launch.
They invest substantially in new product development and geographical expansion initiatives. The market is anticipated to witness relentless innovations and new products, eventually intensifying competition among synchronous motor manufacturers.
Major Players:
- Vaillant Group (Germany)
- Honda Power (Japan)
- Yanmar Holdings Co. Ltd. (Japan)
- Qnergy (US)
- Ceres Power Holdings PLC (UK)
- Aisin Group (Japan)
- Centrica plc (UK)
- BDR Thermea Group (UK)
- Mondragon Corporation (Spain)
- Dantherm Power (Denmark)
- Viessmann Group (Germany)
- Nucusa Energy (US)
- Solid Power (US)
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TABLE OF CONTENT
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
Continued…
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Website: https://www.marketresearchfuture.com
Market Research Future (MRFR’s) latest study reveals that the global flare monitoring market will grow at a compound annual growth rate of 7.83% during the forecast period (2018-2025).
Flare monitoring is an important aspect of operating oil and gas facilities. Flare monitoring devices are installed to monitor the fluctuations in the stack flame and spot abnormalities, if any. Modern flare monitoring devices come with visual cameras and advanced infrared systems. They are capable of non-contact monitoring using thermal imaging and pyrometry that are specifically designed for the continuous monitoring of emissions.
Use of flare monitoring in petrochemicals industry, chemical process plants, gas distribution infrastructure, refineries, and oil & gas production sites is widespread. The oil & gas sector strives for efficiency and reliability, which creates application opportunities for surveillance system and security solutions.
Continuous growth of the petrochemical industry and introduction of stricter emission laws is supporting the growth of flare monitoring market. A sparp rise in drilling activities from offshore locations, along with increased automation in the oil and gas sector is creating lucrative market opportunities. Gas and liquid flaring is a common activity in extraction facilities, however, it involves a significant level of caution. This is where flare monitoring is so important. Flare monitoring devices are found in industrial plants such as refineries, gas processing plants, and chemical plants.
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Global Flare Monitoring Market: Segmental Analysis
MRFR’s study includes a thorough segmental analysis of the market based on type application and region.
- On the basis of type, the market has been segmented into In-process and remote. The In-process segment in further sub-segment into mass spectrometers, gas chromatographs, gas analyzers. The remote segment is further sub-segmented in remote-IR imagers and MSIR imagers. The In-process segment accounts for the larger share of the market. During the forecast period, the segment is expected to post a CAGR of 7.71% and retain its leading position. The remote segment is expected to exhibit a relatively higher CAGR.
- On the basis of application, the market has been segmented into refineries, oil & gas production sites, and petrochemicals. The oil & gas production sites segment currently accounts for major share of the market. The petrochemical segment currently accounts for second largest share in the market and is likely to retain its second spot over 2025.
Global Flare Monitoring Market: Regional Outlook
In the report, the market has been covered across regions such as North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America. North America accounted for largest share in the flare monitoring market in 2017. The region is expected to remain a key market for flare monitoring during the forecast period. The market in North America is entering a maturity phase and undergoing technological and structural transformation. North America is followed by Europe and Asia-Pacific. The Europe flare monitoring market is currently valued at over USD 150 Mn and projected to surge at a healthy growth rate over the next couple of years. Meanwhile, the market in APAC is expected to surpass a valuation of USD 200 Mn by the year 2025, reflecting a CAGR of 8.06%. There has been a rapid expansion of the facilities in the upstream oil and gas sector in the region, which is likely to provide the business opportunities in the market in APAC region.
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Global Flare Monitoring Market: Competitive Landscape
- ABB
- Thermo Fisher Scientific Inc.
- Siemens AG
- Honeywell International Inc. AMETEK.Inc.
- Zeeco Inc.
- FLIR Systems Inc.
- LumaSense Technologies Inc.
- Fluenta AS.
- Williamson Corporation
- Extrel CMS
- LLC and Providence Photonics
- LLC.
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Latest Related Report Explores :
https://steverey2709.tumblr.com/post/641654756858904576/flare-monitoring-market-2021-emerging-trends
https://letestresearchreports.blogspot.com/2021/01/flare-monitoring-market-2021-emerging.html
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Market Scope
Drilling Waste Management market is projected to witness ~ 5.64% CAGR during the forecast period.
Primary Drivers and Main Challenges
Drilling Waste Management Market processes are a significant aspect of the oil and gas industry, which generates massive amounts of drilling wastes such as drill cuttings and drilling fluids. Drilling waste management helps maintain proper drilling operations and facilitate environmental protection. Experts are hopeful that the market can maintain its robustness in the coming years on account of the mounting environmental concerns combined with the rising spending by oil & gas companies in various exploration activities across the globe.
Technological evolution in the industry has led to notable advancements in drilling waste management technologies. Lower waste generation-based technologies like slim-hole drilling, directional drilling, pneumatic drilling and coil-tubing drilling are being increasingly used instead of the traditional ones. The focus on achieving zero discharge has also increased, while the number of research & development activities has also grown, in terms of high-end treatment technology, giving rise to abundant opportunities in the global market.
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The impact analysis on COVID-19 has been carried out by MRFR, which reveals that the oil and gas industry can be profoundly affected by the plummeting demand and the crashing prices of power around the world. Taking into account the long-term impact of COVID-19, most of the leading companies are presently working on bringing down the costs of protecting their assets, and are also putting in efforts to ensure uninterrupted operations to control the revenue loss. While the world is busy trying to achieve a COVID-19 breakthrough, the lockdown situation has managed to restrain the movement of materials across energy and power plants. The short term impact in line with the current lockdown situation has led to a massive decline in the investment capacity along with a drop in power prices in the face of political uncertainty, suggests the COVID-19 analysis by MRFR.
Market Segmentation
Segmentation of the global covers waste type, application and service type.
The waste types studied are contaminated water-based muds, waste lubricants, spent bulk chemicals, contaminated oil-based muds, and others. All of these waste types are highly toxic for the environment and consist of harmful elements like inorganic salts, aromatic hydrocarbons, organics, heavy metals, and more.
The application areas of drilling waste management are onshore as well as offshore. Onshore operators are presented with various drilling waste management options, and these options are chosen on the basis of the operation area.
The service types covered in the market analysis include solids control, containment & handling and treatment & disposal services. Treatment & disposal services are quite extensive during the drilling waste management processes, making it the leading segment in the market. The most common treatment and disposable services types are land farming, onsite burial (pits and landfills), bioremediation, land spreading, slurry injection, thermal treatment, among others. However, the second position has been clinched by the solid control services segment in the worldwide market.
Regional Insight
Europe, Asia Pacific or APAC, the Middle East and Africa or MEA and North America are the main markets for Drilling Waste Management Market Size.
North America together with Europe can emerge as the biggest markets for drilling waste management largely due to the rising number of oil drilling activities. In North America, there has been a notable surge in shale gas development drilling activities in line with the increasing innovations in drilling technologies, such as vertical drilling and horizontal drilling. The North American market can observe considerable expansion in the coming years, thanks to the increasing use of unconventional resources and their continuous development. The adherence to stringent waste management along with the pressure from the government to bring down the volume of drilling waste can also benefit the regional market. Europe, being the second leading market, can grow on the back of rising number of drilling activities.
In APAC, offshore exploration activities have picked up immense pace in conjunction with the expanding population. The thriving industrial base along with the soaring energy demand can also boost market growth in the future. The MEA market is flourishing with the frequent oil & gas exploration activities and the growing investments from operators in the field.
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Leading Contenders
- Halliburton Company (U.S)
- Ridgeline CanadaInc.(Canada)
- Weatherford International PLC (U.S)
- Baker Hughes
- Secure Energy ServicesInc. (Canada)
- Schlumberger Limited (France)
- Hebei Gn Solids Control Co. Ltd. (China)
- Derrick Equipment Company (U.S)
- Tervita Corporation (Canada)
- Specialty Drilling Fluids Ltd.(U.S)
- Newalta Corporation (Canada)
- National Oilwell VarcoInc. (U.S)
- a GE company (U.S)
- Augean PLC.(U.K)
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
Continued…
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Market Research Future
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+1 628 258 0071(US)
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Lithium-ion Battery Recycling Market is projected to be worth USD 16.8 Billion by 2027, registering a CAGR of 17.02% during the forecast period (2021 - 2027), The global market was valued at USD 130.1 billion in 2020.
Li-ion battery recycling market is a dynamic and more attractive industry, for sure. With the rapid adoption of EVs, the demand for Li-ion batteries as well as Li-ion battery recycling will grow significantly in the coming decades. Currently, most of the recycling companies are located in China, for example: Brunp, Huayou Cobalt, GEM, and Europe, such as Umicore, Akkuser, Accurec. Chinese recycling companies are at an advantage. They benefit from an already large battery market, enjoy extensive support from the state and have good access to the high volume of material to be recycled.
Most of the recycling companies are gradually increasing their recycling capacity to accommodate the growing volume of end-of-life batteries. Still, it again depends on the investment required to increase the capacity.
To build a new recycling plant or increase the capacity of an existing plant needs high investment. High investment, the right strategies, and the rapid increase of recycling capacity are the key. Recycling players with high investment capability and the right approach may benefit. Therefore, today’s smaller players or newcomers can increase their market shares, and the leaders can see their market shares decreasing, all depending on their approach.
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Most of the recycling companies are gradually increasing their recycling capacity to accommodate the growing volume of end-of-life batteries. Still, it again depends on the investment required to increase the capacity.
Industry News
- In September 2019, Umicore and LG Chem Ltd. (South Korea) entered into a multi-year strategic supply agreement for the supply of 125,000 metric tons of nickel, manganese, and cobalt cathode materials for lithium-ion batteries to LG Chem Ltd. The agreement became effective from January 2020. Under this agreement, Umicore is also expected to recycle LG Chem Ltd.’s cathode material production waste. Currently, both companies are undergoing discussions on long-term cooperation in battery recycling. The agreement is expected to help Umicore enhance its competitive edge in the battery recycling market globally.
In 2020, the automatic cleaning segment is expected to dominate the market during the forecast period: MRFR
By End Use:
On the basis of End Use, the market is segmented into automotive, and Non-automotive. Among these, the automotive segment is expected to grow with the highest CAGR during the forecast period. The growing adoption of electric vehicles and government regulations supporting the EVs are the key factors responsible for the growth of this segment in 2020.
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By Battery Chemistry:
Based on Battery Chemistry, the market is segmented into Lithium-nickel Manganese Cobalt (Li-NMC), Lithium-iron Phosphate (LFP), Lithium-manganese Oxide (LMO), Lithium-titanate Oxide (LTO), Lithium-nickel Cobalt Aluminum Oxide (NCA). The lightweight lithium-ion battery systems have a high energy density and power, which improves wheeled vehicle’s mobility. Furthermore, military transport, combat and unmanned vehicles are switching to fully electric or hybrid systems, with battery systems serving as the primary source of propulsion power.
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The major players operating in the global Li-ion battery recycling market are Umicore, Glencore International AG, Retriev Technologies Inc., Raw Materials Company Inc. (RMC), International Metals Reclamation Company, LLC (INMETCO), American Manganese Inc., Sitrasa, Li-Cycle Corp., Neometals Ltd, RecupylSas, Tes-Amm Singapore Pte Ltd, Fortum OYJ, GEM Co., Ltd, Tata Chemicals Limited, Onto Technology, LLC, Lithion Recycling Inc., Ecobat Technologies Ltd., Battery Recycling Made Easy (BRME), Euro DieuzeIndustrie (E.D.I.), BatrecIndustrie AG, Urecycle Group Oy.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global lithium-ion battery recyclingmarket, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing and cost analysis.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact:
Market Research Future
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: [email protected]
Website: https://www.marketresearchfuture.com
Market Highlights
Global Golf Cart Battery Market is projected to be valued at 6.21% CAGR during the forecast period, 2020–2026. In the current scenario, industries engaged in events, camping, and golf tourism require golf cart batteries for ensuring improved durability and lower cost. These new generation batteries are technically sufficient to upgrade the life span of a device. Lithium-ion and lithium-air batteries are some of the types of batteries that are used in various industries.
Global Golf Cart Battery Market, 2020–2026
In 2019, North America dominated the golf cart battery market in terms of share: MRFR
Global Golf cart battery Market is projected to grow at 6.21% CAGR during the forecast period.
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The cart battery market has been segmented into five regions: Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. North America is expected to hold the largest share of the market during the forecast period. The growing exposure of golf as a sport and high demand from commercial establishments is supporting the demand for golf cart batteries in the region. Europe is expected to be the second-largest market for golf cart batteries owing to the increasing deployment of advanced batteries in electric barges and boats. In Asia-Pacific, countries such as China and India are significantly focusing on the automotive sector, which is expected to be one of the major end users of golf cart batteries owing to its large population base. In the Middle East & Africa and South America, golf cart batteries gain exposure due to urbanization.
The global golf cart battery market has been segmented based on battery type, product type, and application. Based on battery type, the golf cart battery market is divided into lithium-ion and lead acid batteries. The lithium-ion segment is expected to hold the largest share within the global market during the forecast period. Increasing concerns regarding global warming and environmental pollution may be well served with advances in lithium-ion batteries. Moreover, the manufacturing cost of lithium-ion batteries is declining significantly, which is expected to increase the scale of production for lithium-ion batteries. Based on product type, the golf cart battery market is divided into 6V, 8V, and 12V. The 6V segment is expected to hold the largest share during the forecast period due to its wide application to power golf cars, electric boats, and others. By application, the global market is divided into golf cart, electric coach, and others. The golf cart is expected to hold the largest share globally due to growing golf tourism.
Drivers
Scope of the Report
This report provides an in-depth analysis of the global Golf Cart Battery Market Growth, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global golf cart battery market by battery type, product type, application and region.
- Battery type
- Lithium-ion battery
- Lead acid battery
- Product type
- 6V
- 8V
- 12V
- Application
- Golf cart
- Electric coach
- Others
- By Region
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
Key Players
The Key Players in the Global Golf Cart Battery Market are C&D Technologies Inc., Clarios, Crown Battery Manufacturing Co., Enersys, East Penn Manufacturing Co., Inc., Exide Industries Ltd, GS Yuasa Corp., Samsung SDI Co. Ltd., Leoch International Technology Ltd., and ReLiON Batteries.
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Energy Storage Market is poised to expand at a USD 292.5 Billion, CAGR of 7% during the forecast period of 2021 – 2027.
Energy Storage Market is a very diverse subject area, ranging from small to very large systems. Energy storage is widely categorized into mechanical energy storage, electrochemical energy storage, thermal storage, and chemical storage. Energy storage systems have dominated the market for renewable energy as well as the conventional market in recent years due to the ability to store energy in different forms and supply according to end-user needs.
Energy storage can be defined as a technology that gives preference to source power without falling back on traditional energy sources. These energy systems are highly efficient and act as a flexible generation when required. Energy storage systems will lead to the efficient use of generation and grid assets and help reduce emissions in a variety of economic sectors.
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Market Dynamics
Increasing focus and massive investment in renewable energy generation drive the global market for energy storage rigorously. Major economies worldwide are focusing mainly on developing renewable energy generation to reduce their reliance on traditional energy generation from fossil fuels. Renewable energy currently has a large share of overall global energy generation. In 2016, the World Energy Council estimated that hydropower accounted for about 30% of the total global installed power generation capacity and about 23% of the total global electricity produced.
The utility-scale energy storage industry has experienced rapid growth in both established early adopter markets and emerging markets where technology has just begun to make an impact. Europe & North America have made a significant contribution to the development of the utility-scale energy storage market, powered by regulations and innovative vendors and project developers. The complexity of energy storage, utilities around the world, is pursuing various approaches to working with related technologies. Primary factors such as buying power, brand recognition, and the ability to push regulatory change, utilities are one of the most significant drivers for enabling energy storage to scale worldwide.
There is currently a phenomenal rise in the Energy Storage Market Size worldwide. The broad application of energy storage to all end users provides a strong market demand for energy storage. There are currently few options available for end-users in the energy storage market, which means that technology advances can provide wise alternatives for end-users. The current cost of technology is higher, and it is very expensive for the end-user to opt for this energy storage at all stages of operation. The upcoming advancement and government initiative will definitely improve the economic viability of energy storage.
The market is driven by numerous factors, such as the evolution of renewable energy generation, a steady decline in technology costs, and a rise in the use of energy storage in all end-user industries. This is primarily because energy storage systems are less polluting and produce less carbon emissions compared to conventional energy sources like coal, oil, and petroleum. Energy storage generation is helping to tackle climate change as well as serving as a source of power for remote and off-grid areas where millions of the world's populations still live.
Moreover, the global energy storage market has been motivated by a large rise in global energy consumption and volatility in global fuel prices. There is no question that these factors have produced an excellent opportunity for an energy storage industry around the world.
Market Segmentation
The global energy storage market has been segmented into type and end-user.
- Based on type, the global energy storage market has been segmented into mechanical energy storage, thermal energy storage, electrochemical energy storage, and chemical energy storage.
- Based on end-user, the global energy storage market has been segmented into utility, commercial & industrial, and residential.
Regional Analysis
Regionally, the global energy storage market size has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The European region is the leading market for energy storage, followed by the Asia Pacific.
Key Players
The prominent players of global energy storage market are
- AES Corporation (U.S)
- Tesla Inc. (U.S)
- General Electric Company (U.S)
- Voith GmbH (Germany)
- Sulzer Ltd. (Switzerland)
- Hydrostor Inc. (Canada)
- Highview Power Storage (U.K)
- Linde AG (Germany)
- Hydrogenics Corporation (Canada) and SolarReserve
- LLC. (U.S).
Tables Of Contents
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Energy Storage Market, By Reactor Type
5 Global Energy Storage Market, By Strategy
6 Global Energy Storage Market, By Capacity
7 Regional Market Analysis
8 Competitive Analysis
9 List of Tables
10 List of Figures
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Market Synopsis
Turbine Control System Market is projected to be worth USD 21.65 billion by 2027, registering a CAGR of 4.73% during the forecast period (2021 - 2027), The market was valued at USD 14.15 billion in 2020.
Turbine control solutions with shorter ROI (return on investment) are available in the market. In addition, the growing awareness about their benefits can increase the rate of adoption across different sectors. These are likely to provide thrust the Turbine Control System Market. The rise in oil and gas sector-related applications of turbine control systems can cause their market to surge. The upscaling demand for turbine control system to achieve petroleum extraction procedure to accelerate the market growth.
Segmental Study
The study of the turbine control system market is segmented based on components, function, and type.
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The component based segments of the market are hardware and software. The hardware segment comprises controller, human-machine interface, sensors, and others. The rise in importance of hardware in turbine control system to monitor and control different turbine activities can bolster the expansion of the turbine control system market. The software segments are data collection and computer instructions that garner data from hardware. The high efficacy of pre-specified programs to cause function optimization of turbines and fosters the adoption of turbine control system. Thus, can impel its market growth.
The function-based segments of the market are temperature control, speed control, pressure control, load control, and others. The wide range of speed limit and facilities availed by turbine control system are observed to increase their deployment rate. The launch of innovations with better speed features can shore up the growth of the turbine control system market.
The type-based segments of the market are Turbine Controls Market, of steam turbine control systems, speed turbine control system, and others. The growing popularity of steam turbine control systems prompt the market expansion. The rise in awareness about beneficial features of gas turbine system can improve the market impetus in the years to come.
Regional Outlook
Asia Pacific is reputed as the energy producing hub. One of the highest end-users of turbine control systems is the energy and power sector. The rise in population in the APAC region is creating the need for increased energy supply. Turbine control systems are deployed heavily to monitor and control the smooth run of turbines that are applied to generate power. Thus, the rise in need to boost performance threshold of energy generation companies can fortify the global ground of APAC turbine control system market.
North America is known for its technical expertise, which can support developments and innovations of turbine control systems. The presence of key turbine control system developers and their growing focus on research to avail better control system solutions can promote the regional market.
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Prominent Players
- Honeywell International Inc. (US)
- Emerson Electric Co. (US)
- General Electric Company (US)
- Woodward Inc. (the US)
- ABB (Switzerland)
- HPI
- LLC. ALL (US)
- Heinzmann GmbH & Co. KG (Germany)
- DNV GL (Norway)
- Future Solutions Pte Limited (Singapore)
- Siemens AG (Germany)
- Rockwell Automation (US)
- Spica Technology Aps (Denmark)
- Mita-Teknik (Denmark).
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Tables Of Contents
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Turbine Control System Market, By Reactor Type
5 Global Turbine Control System Market, By Strategy
6 Global Turbine Control System Market, By Capacity
7 Regional Market Analysis
8 Competitive Analysis
9 List of Tables
10 List of Figures
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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.MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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Market Scenario
Market Research Future (MRFR), in its latest report sheds light on the impact of COVID-19 pandemic in the global Volt/VAR management market 2020. MRFR study shows that the Volt/VAR management market can rise at 6.50% CAGR in the forecast period 2017 to 2024.
The growing focus on the need to curb transmission and distribution (T&D) losses, cut operational cost, boost in the demand for electricity, and increase in the complexity of distributed energy generation are observed as major factors that can drive the expansion of the Volt/VAR management market in the years to come.
Across the review period, the growing utility of Volt/VAR devices across numerous sectors can prompt the expansion of the world market of Volt/VAR management market in the near future. In addition, the presence of favorable regulations and government incentives to achieve system-wide energy savings can boost the expansion of the Volt/VAR management market growth in the years to come.
Market Segment
The segment study of the Volt/VAR management market is based on application, end-user, and component.
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The application based segments of the Volt/VAR management market are distribution sector and transmission sector. The component based segments of the Hardware Volt/VAR management market are voltage regulators, software & services, smart sensors, capacitor banks, and others. The end-use market segments are industrial and utilities.
The hardware segment can gain high traction due to the growing utility of Volt/VAR management hardware in the upcoming power generation projects. The application of Volt/VAR management in both renewable and conventional power sectors can promote the Volt/VAR management market growth in the assessment period. The increase in utilities application of Volt/VAR management due to industrialization and rise in urban population base can boost expansion of the world market in the near future. The distribution sector is the high end–user of Volt/VAR management solutions. This can contribute to the promotion of the Volt/VAR management market across the assessment period.
Detailed Regional Study
The regional study of the Volt/VAR management market is done across major economies of the world. MRFR study shows that the Volt/VAR management market in North America is projected to rise at significant growth rate in the study period. It is due to modern technological advancements that are being deployed in the T&D network, across the world. The change in electricity consumption pattern throughout the region can result in T&D losses. The rise in to curb T&D can trigger the need for effective system to mitigate these losses that occur due to complex electricity T&D network. The wider range application of Volt/VAR management solutions across North America can boost the expansion of the regional market. In the Asia Pacific region, the active participation of government in different Asian economies due to the rise in the need for energy efficiency in the T&D network can bolster the regional market. The regional market is observed to witness heavy investment from energy providers in the renewable energy sector. This is observed to increase the number of Volt/VAR system installation in different locations. The rise in these activities can make Asia Pacific the region to experience the fastest expansion of the Volt/VAR management market.
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Key Players
MRFR profiled some reputed players operating in the Volt/VAR management market. They were identified on the basis of origin and regional establishments, products and developments, and financial aspects of the market.
- GE
- Eaton
- DC Systems
- Schneider Electric
- Advanced Control Systems
- ABB
- S&C Electric Company
- Landis+Gyr
- Beckwith Electric
- Utilidata
- Siemens
- Open Systems International
- VArentec
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact:
Market Research Future
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: [email protected]
Website: https://www.marketresearchfuture.com
