Power & Energy Trends

With the falling prices of micro inverters and implementation of supportive government initiatives in several countries, the demand for photovoltaic installations is surging sharply. Moreover, the high cost-effectiveness, safety features, and optimal performance of solar micro inverters are further boosting their sales across the globe. Besides, the soaring need for power is also fueling the expansion of the global solar micro inverters market across the world. These energy storage systems can decentralize energy reserves and use energy during the time of peak demand, thereby assisting users in operating the grid more effectively and efficiently. Furthermore, the increasing affordability of these energy storage devices for solar power systems is also expected to drive the market at a CAGR of 15.3% from 2016 to 2026. According to the estimates of the market research company, P&S Intelligence, the value of the market will grow from $431.6 million in 2015 to $1,968.7 million by 2026....

The soaring investments being made for the production and upgradation of the transmission and distribution network in many countries around the world is one of the main factors causing the rise in the requirement of pad-mounted transformers across the globe. In addition to this, rapid advancements in technology, wide-scale application of information technology (IT) t machines, and improvement in process control are further boosting the demand for pad-mounted transformers all over the world. The other important factor responsible for the surging sales of pad-mounted transformers is the rising consumption of energy throughout the world, on account of the increasing population levels and changing lifestyles in several regions. Due to these factors, the global pad-mounted transformer market is expected to exhibit exponential growth in the years to come. A pad-mounted transformer basically refers to a special style of enclosure for bigger transformers that can be easily installed in the re...

The expansion of the automotive industry is driving the demand for adhesive tapes across the world. This is because tapes having adhesive characteristics are extensively used in the automotive industry, primarily in the form of protection tapes and double-sided tapes. Moreover, automobile manufacturers are increasingly preferring to use automotive tapes having adhesive properties over the conventionally used mechanical fasteners in order to reduce the weight of the automobiles. As mechanical fasteners such as screws and bolts increase the automobile’s weight, they are being rapidly replaced by lightweight adhesive tapes. Besides the aforementioned factor, the development of recyclable adhesive tapes is also creating lucrative growth opportunities for the players operating in the adhesive tapes market. Many countries are restricting or banning the use of hazardous chemicals, which are generally needed for producing adhesive solutions. Additionally, various end users are preferring eco-f...

The Technical Standards and Specifications laid down by the Petroleum and Natural Gas Regulatory Board, India, states the standards for the design, material, and safety of pipelines used in the oil and gas sector. The Schedule 1E of this regulation compels oil and gas companies to control corrosion and the Schedule 1D mandates the testing of pipeline equipment. Likewise, the Pipeline and Hazardous Materials Safety Administration (PHMSA) of the U.S. government assess the safety and performance of pipelines in the oil and gas sector to avoid unprecedented situations. Thus, the increasing need for oil and gas companies to comply with stringent government safety regulations will help the fiber reinforced plastics pipe market exhibit a CAGR of 8.4% during 2017–2023. According to P&S Intelligence, the market was valued at $2,134.4 million in 2016 and it will generate $3.8 billion revenue by 2023. As these pipes have a high strength-to-weight ratio, excellent resistance to corrosion and ...

The Asian Infrastructure Investment Bank (AIIB) committed $60 million to the STIC Asia Infrastructure Innovation Fund in November 2021. The fund will help small and medium-sized companies involved in smart city, transport and logistics, green energy infrastructure, social infrastructure, and digital infrastructure development prosper in the Republic of Korea, Southeast Asia, and South Asia. Likewise, the Government of Canada signed the Integrated Bilateral Agreement for the Investing in Canada Infrastructure Program (ICIP) with British Colombia in 2018 to invest $3.917 billion for the next 10 years in the infrastructure of the latter.  Thus, the increasing investments being made in infrastructure development will help the polymer concrete market witness a CAGR of 7.1% during forecast period. According to P&S Intelligence, the market revenue will rise from $1,975.8 million in 2017 to $2,964.0 million by 2023. Additionally, the rising focus on repair and rehabilitation of existi...

After energy production, transportation is the biggest source of greenhouse gas (GHG) emissions. The population boom is being accompanied by the rising automotive sales. And, since most of the automobiles are still fueled by gasoline (petrol) and diesel, the air pollution problem continues to worsen. Therefore, the world is now focusing on electric vehicles (EV), and till the time the entire transportation sector of the world doesn’t transition to EVs, other steps are necessary to check GHG emissions. One of the ways most countries have adopted is making the engines, fuel, and exhaust systems of conventional automobiles cleaner. As a result, P&S Intelligence expects the diesel exhaust fluid market size to increase to $20,518.0 million by 2023 from $12,191.5 million in 2017, at an 8.8% CAGR during 2018–2023. This is because diesel exhaust fluid, abbreviated as DEF and also known as AdBlue, accomplishes the selective catalytic reduction (SCR) of diesel, to convert harmful nitrous ox...

The International Organization of Motor Vehicle Manufacturers (OICA) records that 1,427,074 units, 2,014,055 units, 3,394,446 units, 257,187 units, and 1,435,335 units of automobiles were manufactured in Thailand, Brazil, India, Argentina, and Russia, respectively, in 2020. The rising vehicle production creates an enormous requirement for electroceramics, as they are employed in spark plugs, oxygen sensors, knock sensors, and combustion sensors. Automakers deploy these sensors in internal combustion engine (ICE)-powered vehicles to monitor their major qualitative and performance indicators. Additionally, the booming healthcare industry, on account of the mounting demand for healthcare services, soaring number of public and private partnerships in this industry, and rising expenditure, is expected to drive the electroceramics market at a CAGR of 5.9% during the forecast period (2018–2023). According to P&S Intelligence, the market revenue will grow from $8,590.9 million in 2017 to ...