Laminated Tubes Market Future Trends, Industry Size and Forecast to 2031

Packaging plays a crucial role today and serves diverse purposes such as brand promotion and attracting customers for driving sales. As per Future Market Insights (FMI), these factors will enable laminated tubes sales growth at 6.3% CAGR between 2021 and 2031.

Consumers are switching from rigid packaging such as plastic and aluminum packaging tubes to flexible laminated tube packaging. They mostly prefer hygienic, durable, and visually appealing product packaging that also offer high protection of the contents inside the tube.

Laminated tubes are lightweight, hygienic, and tamper-resistant. The premium quality and smooth finish of these tubes makes them more attractive and noticeable.  They also protect the content inside the tube from light, air, oxygen, moisture, UV rays, and a variety of bacterial infections.

They also act as a reliable seal to keep the contents free from spoilage, and dust particles, thus extending a product’s shelf life. The multilevel barrier of laminated tubes provides a protective layer and ensures greater longevity of the material.

Therefore, the rising awareness among consumers about health, hygiene, and willingness to purchase cost-effective, and attractive products will create opportunities for the laminated tubes market expansion.

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Key Takeaways from Laminated Tubes Market

Laminated tubes are made from multiple layers of different materials of EVOH, aluminum, and plastic. Of these, the demand for aluminum barrier laminate (ABL) is highest. FMI also projects the ABL segment to account for 82.2% of the market by 2031.

The 50 to 100 ml capacity segment will account for 62.4% market share by 2031. These type of tubes are designed as a standard size preferred by the consumers, primarily used for cosmetics and oral care packaging

Stand-up caps are more preferred in the laminated tube and are expected to hold 45.1% of market share by 2031.

The oral care segment is projected to be the fastest-growing end-user segment, accounting for 45.3% of sales through the forecast period.

East Asia market is expected to show strong  growth, rising at 8.1% CAGR during the forecast period of 2021-2031.

  •  “With increasing consumer focus on oral hygiene and a shift in preference towards visually appealing, hygienic, and premium quality cosmetic products are creating opportunities for laminated tubes market growth. These trends also are encouraging manufacturers to focus on innovations to offer more efficient packaging solutions,” says FMI analyst.

Demand in Beauty and Personal Care Industry to Increase

Consumers have become increasingly concerned about the quality and brand value of the cosmetics and personal care products they purchase. Willingness to spend on quality products with premium packaging that will prevent contamination of product packed inside and improve their shelf-life will increase laminated tubes application in the cosmetics sector.

The trend of glossy tubes with sophisticated metallic effects and intricate designs such as realistic photo prints, matte or glossy finishes will help laminated tubes to stand out in the competition.

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Rising Intolerance towards the Use of Plastic Likely to Hamper the Market Growth

Concerns related to the environment due to the usage of plastic is negatively impacting the laminated tubes market. Various countries have imposed strict bans and stringent regulations to minimize plastic consumption.

For instance,

In March 2019, the European Parliament passed a law to ban single-use plastic. The law stressed the significant environmental, health, and economic impact of certain plastic products

Plastic-waste dumping in the sea and landfills is the primary global environmental concern today. Many institutions, NGOs, and government authorities are encouraging plastic manufacturing companies to develop environment-friendly, bio-degradable, and recyclable packaging product solutions.

Laminated tubes are made by using multiple layers to protect the product against environmental conditions. They are not recyclable due to their multi-layer nature. Aluminum laminated tubes are recyclable, whereas plastic laminated tubes are not fully recyclable. Thus, the consumer’s awareness and consciousness towards purchasing eco-friendly products and the government ban on plastic consumption

Laminated Tubes Market Landscape

Berry Global Group Inc., CCL Industries Inc., Huhtamäki Oyj, EPL Limited, Albea S.A., Hoffmann Neopac AG, Tubopress Italia S.R.L and among others are the prominent players in the global laminated tubes market. The Tier 1 players in the market hold 20-30% in the global laminated tubes market.

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Green Building Materials Market Size is Likely to Reach US$ 823 Bn by 2032

The green building materials market size is likely to reach US$ 823 Bn by 2032, up from US$ 265 Bn in 2021, accounting for 11.8% CAGR through 2022-2032.

Green construction materials play an essential role in the growth of such structures. From design through demolition, green building materials are necessary for sustainability and efficiency.

Manufacturers are primarily concerned with creating conventional consumer goods. Customizations based on customer preferences, on the other hand, are predicted to be the way forward, boosting demand for green building materials market.

Due to Sustainable growth and a decrease in difficulties connected to environmental degradation and natural resource depletion, green construction materials are becoming increasingly popular, leading to the adoption of green building materials market.

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Low operational and maintenance costs and the pressure of environmental rules relating to emissions are the primary drivers of the global green building materials market.

Furthermore, governments in developed nations have implemented regulations and incentives to encourage green building, which has aided the market’s growth.

Key Takeaways

  • Insulation is expected to be the fastest-growing application, rising at a pace of 11.7% during the projected period due to its excellent energy efficiency and increased emphasis on installing interior insulation solutions.
  • Green construction materials are required to combat the health risks posed by climate change, pollution, and carbon footprints. It has been discovered that employing green building materials in the construction sector substantially reduces carbon dioxide (CO2) emissions.
  • The Indian government has encouraged green construction, such as the Green Rating for Integrated Habitat Assessment (GRIHA). It has mandated that all central government and public-sector buildings receive at least a 3-star rating under GRIHA, enhancing the sales of green building materials.
  • The future of green building technology provides several options to repair the damage that has been done to the world and the environment. Building materials that retain air cleansing materials, micro-grids, net-zero structures, and smart glass are just a few of them.
  • North America owns a significant green building material market share. The rise of the green building material market in the area is being driven by strict rules on the use of environmentally friendly products in the construction sector.
  • Exposed to extreme climate conditions and government initiatives, the Asia Pacific and Latin America are also seeing increased demand for green building materials market and are likely to be very attractive markets for green building materials.

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Competitive Landscape

Acoustical Surfaces, Cemex S.A., Green Build Products, Cold Mix Manufacturing Corp, Green Build Products, Green Fiber LLC, National Fiber Technology LLC, and Novagard Solutions are some of the key players in the green building materials market.

Some of the growth strategies identified include mergers and acquisitions, trends and analyses relating to strategic collaboration among partners, and mutual agreements and partnerships.

To enhance their geographical footprint, the top players are using novel product launch tactics.

  • Sika announced its consumer purchase intention MBCC Group in November 2021 in order to accelerate its growth strategy and strengthen its position as a global sustainability champion in the construction sector.
  • SmartLam North America and RedBuilt established cooperation in May 2020 to provide Cross-Laminated Wood (CLT) supplies and solutions to architects, engineers, and contractors working on projects utilizing the popular mass timber building technology.
  • In the Pacific Northwest, West Coast, and Southwest, which encompasses nine states, RedBuilt will be the only distributor of SmartLam CLT.
  • The use of natural resources has been strained by the rising global population and growing urbanization. Concept of sustainable growth and a drop in challenges connected to environmental degradation and natural resource depletion, green construction materials are becoming increasingly popular.

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Key Segments

By Type:

  • Structural
  • Interior
  • Exterior
  • Others

By Application:

  • Framing
  • Insulation
  • Roofing
  • Interior & exterior finishing

By End-user:

  • Residential
  • Commercial offices & buildings
  • Institution

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East & Africa

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Residential Solar PV Inverter Market is Anticipated to Register a CAGR of 3.8% During the Forecast Period 2022-2032

The residential solar PV inverter market is anticipated to register a CAGR of 3.8% during the forecast period 2022-2032.

The residential solar PV inverter market outlook will be bolstered by ongoing technological advancements, changing regulatory and consumer proximity, and the deployment of efficient inverter units.

As per the residential solar PV inverter market study, the growth of the residential solar PV inverter market is likely to be fueled by the increased deployment of solar PV modules to enhance the microgrid network.

The study also finds that the replacement of traditional storage technology and changes to existing techniques and cost-competitiveness will positively impact industry dynamics of residential solar PV inverter market trends.

In addition, sales of residential solar PV inverters spike due to the widespread adoption of renewable energy sources in the housing sector and the rise of net-metering schemes.

The residential solar PV inverter market future trends will be swayed by a paradigm shift toward adequate manufacturing precision, new product innovations, optimization, and standardized production processes for environmental compatibility, power output, and low installation costs.

Furthermore, smart communication will encourage the adoption of residential solar PV inverters by ensuring network reliability and balancing electricity demand and supply.

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The ability of these inverters to generate grid-matching power (AC) directly through the back of each solar panel will influence the demand for residential solar PV inverters.

The parallel connection of these systems across the PV module reduces panel and inverter failure, further preventing the string from going offline, thereby positively impacting the residential solar PV inverters adoption trends.

A wide array of residential solar PV inverters market opportunities opens up as string-based residential solar PV inverter deployments will be aided by rising regulatory concerns about effective interconnection to grid-tied solar installations.

The residential solar PV inverters market size is likely to be worth US$ 4.8 Bn in 2026.

Key Takeaways:

  • Microinverter technology will grow in popularity in the residential solar PV inverter market due to its ability to operate as a plug-and-play device across solar arrays.
  • By 2028, the single-phase residential solar PV inverters market is expected to exceed USD 5 Bn due to high operational feasibility and lower solar component costs.
  • Central inverters are highly efficient and compatible with various grid features such as fluctuation management balancing and hence are expected to witness the fastest growth rate.
  • By 2028, the Asia Pacific residential solar PV inverter industry is expected to have installed over 20 GW per year.

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“The Asia-Pacific region dominates the residential solar PV inverter market, and this trend is expected to continue in the coming years. The majority of the demand is expected to come from China, also the world’s largest solar energy producer. Product penetration in the region will be driven by favourable reforms such as FITs, soft loans, incentives, subsidies, and tax rebates, etc.” opines an FMI researcher.

Competitive Landscape:

The key player’s residential solar PV inverter market share will be bolstered by inorganic growth ventures, contracts, and new product innovations to expand the product portfolios of leading players.

SMA Solar Technology AG, Darfon Electronics Corp., General Electric, Schneider Electric, Enphase Energy, Sungrow, Siemens, Eaton, SolarEdge Technologies, Fimer Group, Huawei Technologies, Delta Electronics, Altenergy Power System, Hitachi Hi-Rel Power Electronics Private Limited and Fronius International GmbH are some of the major players in the residential solar PV inverter market.

Recent Developments in the Residential Solar PV Inverter Market are:

  • The centralised inverters (model SG3125HV) and string inverters were introduced by Sungrow Power Supply Co. Ltd. (domestic model SG225HX; international model SG250HX). The 210 ultra-high-power modules are fully compatible with the newly launched investors.
  • Tesla has announced the release of its own solar inverter. The Tesla solar inverter comes in two sizes: 3.8 kW and 7.6 kW, with two and four maximum power point trackers, respectively (MPPTs).

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Key Segments

By Type:

  • String Inverter
  • Micro-Inverter

By Application:

  • Single Phase
  • Three Phase

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Recycled Carbon Fiber Market is Expected to Reach US$ 3.91 Billion by 2032

The recycled carbon fiber market is expected to reach US$ 3.91 billion by 2032, up from US$ 1.26 billion in 2021, expanding at a high CAGR of 11.8%. This study explains how recycled carbon fiber price is directly proportional to increasing concerns over climate change and awareness around the use of biodegradable products.

As the demand for pro-performance, eco-friendly and energy-efficient products increases, the consumption of recycled carbon fiber is higher than ever. Countries like US, Germany and Japan are investing more in the research and development projects for recycled carbon fiber.

Factory shutdown, closed supply chains, and brutally damaged end-use industries restrict the recycled carbon fiber market. The damage done by covid-19 to the aerospace market has led to a steep decline in recycled carbon fiber.

Not enough awareness about the use of recycled carbon fibers in manufacturing units of multiple products. The number of manufacturing skills one requires to retain the mechanical traits of virgin carbon fiber and produce recycled carbon fiber is very crucial.

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European Union has allocated 85% of the materials used in manufacturing vehicles to be recyclable, as this recycled carbon fiber is the ideal material for transforming industries. This way, these industries produce eco-friendly, biodegradable and green products.

“The major challenge with the recycled carbon fiber market is the lack of composite waste and other scrap material availability. The ability to decrease erosion and increase the durability of products. Gaining higher volumes for the recycling processes of carbon fiber.”

Key Takeaway

  • The increasing demand for lightweight materials to reduce the weight of the vehicle is also augmenting the demand for recycled carbon fiber applications.
  • Europe holds the biggest portion in the global recycled carbon fiber market. The excessive growth in this region is attributed to the continued strategic development of the new-gen vehicle. The countries in Europe are initiating plats to transform the carbon fiber waste into products.
  • On the basis of type, the chopped recycled carbon is in the highest demand in terms of value and volume, as it is used in multiple industrial mixing, injection modeling and other compounding processes. Recycled carbon fiber ltd and other companies like this do the work for you.
  • Based on source, the aerospace scrap holds and supplies the most significant amount of scrape to the recycled carbon fiber industries that further produce products formed through these materials. E.g., the Pyrolysis carbon fiber global recycled carbon fiber market is segmented by type, source and end-use industries and further divided into small segments.

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Competitive Landscape

The major carbon fiber recycling companies are dominated by SGL Carbon SE, ELG Carbon Fibre Ltd, Procotex Corporation SA, Vartega Inc, Carbon Conversions Inc, Carbon Fiber Recycling Inc, Shocker Composites LLC, Alpha Recyclage Composites, HEXCEL CORP, CFK VALLEY STADE RECYCLINGGMBH & CO KG, Elevated Materials and Sigmatex (UK) Limited. These companies are adopting new organic and inorganic plans to increase their recycled carbon fiber market stronghold.

  • In 2021, Procotex Corporation tied up with ELG Carbon Fibre, which allows the company to produce higher amounts of carbon fiber and feedstocks.
  • ELG Carbon Fiber has developed the world’s first carbon fiber bogie(CAFIBO) by partnering with Railway Research.

What impact did COVID-19 have on the Recycled Carbon Fiber Market?

Due to the novel coronavirus (COVID-19) pandemic, the recycled carbon fiber industry is predicted to increase slowly in 2021. This deadly virus has caused havoc all across the world, especially in North America and Europe. Companies have shut down activities and industrial facilities across countries to prevent the virus from spreading further. As a result, the capacity for producing recycled carbon fiber has been reduced.

End-use industries such as automotive and aerospace, among others, have ceased production. As a result of the pandemic’s influence on the global economy, several automotive manufacturers, notably Volkswagen, BMW, and Ford, have declined their market shares.

Due to the lack of personnel and transportation, the global pandemic has had an impact on production, demand, suppliers, investors, and a variety of other factors. Overall, it can be concluded that the recycled carbon fiber industry is growing at a slower pace.

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However, essential firms’ continued efforts have aided the worldwide market’s delayed recovery from the pandemic. The worldwide market is forecasting a more significant percentage of recycled carbon fiber in the current context.

Key segments

By Type:

  • Chopped
  • Milled

By Source:

  • Autospace Scrap
  • Aerospace Scrap
  • Others

By End Use:

  • Automotive & Transportation
  • Consumer Goods
  • Sporting Goods
  • Marine
  • Industrial

By Region:

  • North America
  • Latin America
  • Europe
  • Middle East & Africa
  • Asia Pacific

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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PV Inverter Market is Estimated to Grow at a CAGR of 5.1% During the Forecast Period 2022-2032

The global PV Inverter market is projected to grow at a moderate CAGR of over 5.1% during the forecast period of 2022-2032, reaching a value of about US$ 2.15 Bn in 2032 from the US$ 1.28 Bn in 2021.

Solar (PV) inverters are the heart of photovoltaic panels installed for harnessing solar energy by converting direct current (DC) generated into alternating current (AC) for supply.

This essential function performed by hybrid solar inverters or PV Inverters made it an indispensable item for the success of renewable energy development. It emerged as a growing market in recent years.

The growing concern for the utilization of solar energy for generating electricity has propelled the sale of photovoltaic panels across the world, directly favoring the growth of the solar PV Inverters market globally.

Government organizations have also come forward, providing financial assistance in the form of tax benefits and subsidies to popularize the installation of Inverter solar panels at the industrial, commercial and individual levels.

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The new policies formulated for installing on-grid solar inverters have provided the necessary impetus for the growth of the PV inverter market in Asia Pacific countries and others.

By government interventions, the production and operation cost of renewable energy has dropped dramatically across several countries. Due to cheap labor and higher manufacturing facilities, China is leading in production and export with lower hybrid solar Inverter prices than anywhere else.

“Growing environmental concern in the aftermath of degrading environmental factors and depleting energy sources solar panels have emerged to be the popular alternative electricity source swaying the market for off-grid hybrid solar inverters across the commercial and industrial units of different regions.”—opines an FMI analyst.

Compared to string inverters installed in PV farms, micro-inverter solar panels are more expensive.

Also, the easier installation and higher efficiency provided by string inverters are constantly replacing the traditional central inverters in all significant solar firms worldwide.

Key Takeaways

  • Central PV Inverters will be the dominant segment of the global PV Inverter Market by Product that is poised to reach a market value of US$ 7.7 Bn by 2028 in terms of revenue generated.
  • String inverters also constitute a significant segment of the experiencing increased traction of 5.2% CAGR during the forecast years.
  • Asia Pacific region has emerged to be the most attractive region for manufacturers of solar Inverter panels and is estimated to reach a market value of more than US$ 11.3 Bn by 2028.
  • With an attractive CAGR of 5.1%, the global solar PV Inver2028 market is going to reach an overall value beyond US$ 27.5 Bn by 2028.

Competitive Landscape

The global PV Inverter market has become highly competitive by the presence of global and local players as well. Some of the key players covered by this market analysis report for photovoltaic inverters include Eaton, Sungrow, Growatt New Energy, Dragon Electronics Corp., Schneider Electric, Enphase Energy, Siemens, Fimer Group, Eaton.

Anticipating a positive growth in manufacturing and sale of solar PV Inverters, various local players have emerged in different geographies resulting in a highly competitive market. Adoption of advanced technologies with optimization of PV Inverter price for consumers is the primary strategy adopted by various major players in the global market.

  • Sungrow Power of the United States (US) collaborated with a South African energy cleaning company named Hudaco Energy in November 2021 to expand its business of hybrid solar inverters in the market of South Africa. The collaboration is expected to provide long-term investment in developing sustainable energy sources in the region.
  • In recent times more countries have imposed anti-dumping duties on the import of cheap solar panels and manufacturing devices that will provide a fair playground for solar PV Inverter manufacturers present at various locations.

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Key Segments

By Product:

  • String
  • Micro
  • Central

By Phase:

  • Single Phase
  • Three Phase

By Connectivity:

  • Standalone
  • On-grid

By Application:

  • Residential
  • Commercial & Industrial
  • Utility

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East & Africa

About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Digital Substation Market is Estimated to Grow at a 7.3% CAGR from 2022 to 2032

The digital substation market  is estimated to be valued at US$ 6.5 Bn in 2021 and is expected to be worth US$ 14.11 Bn by 2032, growing at a 7.3% CAGR from 2022 to 2032.

In addition, the increased demand for energy from renewable resources in developed countries to support sustainable development has boosted digital substation market growth even more.

The global digital substation market has grown at a rapid pace in recent years, and it is expected to do so again over the next several years. This is because leading industry players have begun introducing new products with enhanced capabilities.

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The rising demand for energy and the rapid use of non-renewable energy resources have shifted the demand for power generation to renewable energy sources. Furthermore, the integration of renewable energy with digital substations has been made possible by the advent of automation in power generation, distribution, and management.

The adoption of digital substations for generating renewable energy and improving reliability, efficiency, and safety in power distribution, and the emergence of automation and higher connectivity standards are the factors driving the global digital substation market. However, higher initial investments make it difficult to replace traditional substations, limiting the growth of the digital substation market.

The global digital substation market is driven by the use of digital substations for generating renewable energy and delivering improved dependability, efficiency, and safety in power distribution and the emergence of automation and higher standards of connectivity. However, greater upfront costs make it harder to replace traditional substations, limiting the expansion of the digital substation market.

Key Takeaways:

  • Based on voltage, the 220 kV voltage segment is predicted to hold the largest share of the digital substations market.
  • The utility industry segment is expected to account for a large portion of the global digital substations market.
  • Due to the widespread use of digital substations in utilities, this segment accounted for most of the digital substation market in 2019.
  • By 2026, the hardware module segment is expected to be worth more than US$ 7,500 million. Digital substations are widely used in all industry verticals, particularly utilities and oil and gas, all over the world.
  • Throughout the forecast period (2022-2032), the transmission substations segment is expected to hold the largest share of the digital substations market. The market for digital substations in North America is expected to exceed USD 2.5 billion by 2028.
  • Due to ongoing commercial and industrial infrastructure developments, rising energy demand in the United States will drive the regional digital substation market even further.

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Competition Landscape

ABB, Texas Instruments, Locamation, Efacec, Tesco Automation, NetControl, Belden Inc, Emerson Electric, NR Electric, GE, Schneider, Eaton, Rockwell Automation, Siemens, L&T, Cisco, Open System International, Guodian Nanjing Automation Co, and Beijing Sifang Automation Co. are among the key players in the digital substations market. In addition, ongoing acquisitions and joint ventures among various service providers and favorable incentives for deploying renewable technologies will boost the digital substations market outlook.

  • ABB and CORYS signed a memorandum of understanding for a digital collaboration project in December 2020.
  • Siemens and Atos signed a five-year extension of their strategic partnership in September 2020 to bring together their joint digital solutions.
  • Eaton and the US Department of Energy expanded their collaboration on innovative energy solutions at the National Renewable Energy Lab in January 2018.

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Sustainable Aviation Fuel Market is Bound to Grow at a CAGR of 60% During 2022 to 2032

The sustainable aviation fuel market was worth US$ 220 Mn in 2021 and is expected to reach US$ 15 Bn by 2030, with a CAGR of 60% from 2022 to 2032.

The COVID-19 virus has spread across the globe without regard for national boundaries. As a result, it has had a severe economic and financial impact on all industries, sectors, and facets of life, as well as tremendous uncertainty.

Governments all over the world are canceling visas for foreign residents and closing down damaged areas, which is one of the principal factors for the aviation industry’s downturn.

The aviation industry is dedicated to lowering carbon emissions to create a more sustainable environment and comply with stringent emission laws. As a result, sustainable alternative fuels are being adopted by various participants in sustainable aviation fuel companies, such as improving aero-engine efficiency through design changes, hybrid-electric and all-electric aircraft, renewable jet fuels, sustainable aircraft fuel, and so on.

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Most military aircraft and commercial airlines use sustainable aviation fuel to enhance fuel efficiency and decrease operational costs.

The sustainable aviation fuel market has grown significantly over the years, owing to the growing trend of advanced fuels being employed in aircraft all over the world.

The sustainable aviation fuel market trends such as an increase in the number of airline passengers combined with an increase in disposable income, an increase in air travel, and an increase in synthetic lubricant use all contribute to the worldwide sustainable aviation fuel market growth. However, oscillations in crude oil prices and lubricant contamination are anticipated to hamper sustainable aviation fuel market growth during the forecast period.

Furthermore, the developments of environmentally friendly and safe renewable jet fuel and the rise in demand for low-density lubricants to reduce weight are likely to provide various chances for market expansion throughout the forecast period.

In terms of revenue, North America leads the market, followed by Europe, Asia-Pacific, and LAMEA. In 2020, the United States will dominate the sustainable aviation fuel market. Due to an increase in demand for sustainable aviation fuel across the country, Mexico is predicted to grow at a high rate during the forecast period.

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Sustainable aviation fuel offers airlines a chance to invest in the future. The predicted growth in demand for sustainable aviation fuel is unlikely to be reached unless airline operators boost their renewable aviation fuel obligations with bio-refineries, resulting in fuel cost and availability benefits.

With the predicted rise in the adoption of sustainable aviation fuel on a global scale, airport infrastructure investments are anticipated to grow.

Key Segments

By Platform:

  • Commercial Aviation
  • Military Aviation
  • Business & General Aviation
  • Unmanned Aerial Vehicle

By Biofuel Blending Capacity:

  • Below 30%
  • 30% to 50%
  • Above 50%

By Type:

  • Total Stations
  • Global Navigation Satellite Systems (GNSS)
  • Laser Scanners
  • Sensors
  • Others

By Biofuel Manufacturing Technology:

  • Hydroprocessed Fatty Acid Esters and Fatty Acids – Synthetic Paraffinic Kerosene (HEFA-
  • Fischer Tropsch Synthetic Paraffinic Kerosene (FT-SPK)
  • Synthetic Iso-paraffin from Fermented Hydroprocessed Sugar (HFS-SIP)
  • Alcohol to Jet SPK (ATJ-SPK)
  • Catalytic Hydrothermolysis Jet (CHJ)

By Fuel Type:

  • Biofuel
  • Hydrogen Fuel
  • Power to Liquid Fuel
  • Gas-to-Liquid

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern Europe
  • Middle East & Africa

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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Gas Engines Market is Estimated to Grow to US$ 7.47 Bn by 2032 | Future Market Insights, Inc.

The global gas engine market is projected to grow to US$ 4.8 billion by 2022. With sales increasing at a moderate CAGR of 4.1% over the forecast period of 2022-2032, the gas engine market is anticipated to reach an estimated value of US$ 7.47 Bn by the end of 2032. Market potential for gas engines is anticipated to increase with the accelerating demand for clean and efficient power production technologies.

Increasing concerns for the environment coupled with a gradual shift towards energy production via natural gas and special gas fuels are propelling the market demand for gas engines. A majority of power generation plants are focused on replacing their conventional power generation infrastructure with gas engines to reduce emission levels.

Gas engines are internal combustion engines that run on gaseous fuels like biogas, natural gas, coal gas, and special gas. These engines are slowly gaining popularity across various end-use verticals like automotive, utilities, oil & gas, manufacturing, and others owing to the beneficial properties associated with gas engines. Low operating costs, higher efficiency, and eco-friendly nature are some of the benefits that accompany the use of gas engines.

In addition to this, the growing demand for electricity along with an upsurge in the use of natural gas for producing energy owing to its easy availability, clean and economical nature, will likely augment the market growth of gas engines over the forecast period.

Moreover, the implementation of strict carbon emission regulations, rising government initiatives to expand the power generation infrastructure, the increasing popularity of gas engine technologies across emerging economies, and technological advancements in gas engines are some of the prominent factors fueling the growth in the global gas engines market.

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“Advances in gas engine technologies along with rising environmental concerns are expected to boost the sales of gas engines in the global market for the forecast period,” says an FMI analyst.  

Key Takeaways:

  • Multiple end-use industry applications like electricity generation, powering mechanical equipment, and vehicles to boost market possibilities.
  • Expansion of industrial gas turbine market to generate attractive market opportunities.
  • Countries like India, Germany, and the U.K. are increasing investment in gas-powered power plants.
  • Sales of gas engines in China are expected to exhibit substantial growth over the forecast period.
  • The U.K. gas engine market will present steady growth over the assessment period.
  • By fuel type, the natural gas segment is projected to account for the largest market share, with a high CAGR.
  • Based on power output, 15 MW gas engines continue to dominate the market.
  • By application, the mechanical drive segment is anticipated to lead market growth.

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More Insights into the Gas Engines Market Report

In its latest report, FMI offers an unbiased analysis of the global gas engine market, providing historical data from 2015 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented based on fuel type (natural gas, special gas, others), end use (utilities, marine, oil & gas, manufacturing, others), power output (1-2 MW, 2-5 MW, 5-15 MW, above 15 MW) application (power generation, mechanical drive, cogenerations, others) and region.

According to the latest FMI reports, based on regional growth, China is expected to exhibit significant growth during the assessment period. Rising demand for clean and efficient power generation technologies, the existence of stringent government regulations, swift increase in the number of gas-powered power plants, availability of advanced products at reduced prices, and growing usage of natural gas in multiple industry verticals promote the expansion of the regional gas engine market.

The gas engine market in the U.K. is primarily driven by the need for reducing carbon emissions as well as the implementation of strict government regulations. Growing consumption of natural gas in various fields is generating high demand for gas engines. Additionally, the rising popularity of turbofan engines coupled with rapid expansion of the marine gas engine market will likely boost market possibilities in the U.K. over the forecast period.

As per the latest study by FMI, based on fuel type, the natural gas segment is likely to experience a high rate of growth and hold the largest portion of the global gas engine market. This growth is due to the elevated use of natural gas in gas engines across multiple industry verticals, especially electricity generation plants.

In the power output section, the 15 MW segment accounted for the largest revenue share in 2021. The segment is expected to continue its dominance over the forecast period. This growth is attributed to their growing usage in power generation and cogeneration applications.

On the basis of application, the mechanical driver segment is estimated to generate maximum lucrative opportunities for the gas engine market through 2032.

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Key Segments

By Fuel Type:

  • Natural gas
  • Special gas

By End Use:

  • Utilities
  • Marine
  • Oil & gas
  • Manufacturing

By Power Output:

  • 1-2 MW
  • 2-5 MW
  • 5-15 MW
  • Above 15 MW

By Application:

  • Power Generation
  • Mechanical Drive
  • Cogenerations
  • Others

Competitive Landscape 

Westport Fuel Systems Inc, Wärtsilä, IHI Power Systems Co., Ltd. (Subsidiary of IHI Corporation), YANMAR HOLDINGS CO., MAN SE, BERGEN engines AS, LIEBHERR, JFE Engineering Corporation, Siemens, INNIO, MITSUBISHI HEAVY INDUSTRIES, LTD, Kawasaki Heavy Industries, Ltd and Caterpillar, Cummins Inc. among others are some of the major players in the gas engine market that are profiled in the full version of the report.

Major gas engine market players are focused on employing various organic and inorganic tactics including product expansion and capacity expansion. These businesses are intent on releasing new and innovative products as well as expanding and establishing new manufacturing facilities across appealing regions. They are also participating in mergers and acquisitions, partnerships, and collaborations to achieve a competitive advantage.

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Gas Turbine Market is Estimated to Grow at a 4.0% in 2022-2032 | FMI

The gas turbine market size is estimated to be valued at US$ 19 Bn in 2021 and projected to reach US$ 23 Bn by 2026, with an expected CAGR of 4.0% from 2022 to 2032.

Emerging gas turbine markets such as China and India provide various untapped and undiscovered prospects for the market to expand.

Competitive advantage of gas turbines is high over other distributed generation technologies for backup power and onsite generation because of their better efficiency and stable generation capacity. As a result, the rise of distributed power generation represents a significant gas turbine market opportunity.

The volatility of natural gas prices restricts the growth of the industry. The erratic nature of transnational factors establishes an uncertainty about the demand for gas turbines.

The rise in the global awareness of environmental health is also heavily influencing a paradigm shift in the conventional coal-powered plant industry. The stringent government regulations regarding the greenhouse emissions further have further incentivized the use of gas turbine systems.

Despite the restraints, the gas turbine market is expected to reach a valuation of US$ 23 Bn by 2026.

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Key Takeaways

  • Based on sector, the electric power sector utility segment dominated the market with a 76% share in 2021. It is followed by oil and gas sector due the rise in exploration activities.
  • The Asia Pacific gas turbine market is predicted to be driven by economic expansion, development and carbon dioxide emission regulations.
  • As per design type, the heavy segment accounts for the major part of the market. Aeroderivative gas turbines are lighter, easier to install, and start up faster which makes aeroderivative the fastest-growing segment.
  • The 150-300 MW segment is dominating the market share when categorized as per capacity. The 300+ MW market is steadily rising, owing to recent shift in gas turbine market trends.
  • The power and utilities segment had the highest revenue share of almost 85% in 2020, and it is expected to rise at the highest CAGR during the forecast period.
  • Due to rapid industrialization, Asia Pacific emerged as the largest regional market and accounted for the maximum revenue share of over 31% in 2020.
  • Global natural gas consumption was reported to be 3822.8 billion cubic meters in 2020, according to the BP statistical analysis of world energy 2021, a decrease of roughly 81.1 billion cubic meters from 2019. It could be the direct result of lockdowns and the impact of COVID-19 on the gas turbine market.
  • Coal-fired power generation dominates the Indian power sector, accounting for 61.3 percent of total installed capacity in June 2021. For decarbonization and meeting the Paris Agreement’s commitments, the country possesses enormous renewable energy and gas-based power generation potential.

“The cultural change from coal-based power generation to gas-based power generation in advanced and emerging countries such as the United States, Japan, China, and India, as well as supportive government policies for the construction of gas-based power plants, are the major factors influencing the industry’s development.” as reported by FMI’s lead analyst.

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Competitive Landscape

The gas turbine market is consolidated with a few major players controlling a major share of the market. The potential of gas turbine market growth remains high with the heavy influence of competitive environment.

  • Ansaldo Energia and Shanghai Electric Group’s consortium signed a deal with Bangladesh Power Development Board Company named North-West Power Generation Company Ltd in June 2020. The collaboration is projected to develop and construct an 880 MW combined cycle power plant in Bangladesh under this deal, allowing the enterprises to expand their scale of operation.
  • In another recent development, in August 2020, General Electric has placed an order for an 858 MW CCGT power plant to supply the Zainskaya State District Power Plant with its 9HA.02 gas turbine and supporting equipment.

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Key Segments

By Design Type :

  • Heavy-duty
  • Aeroderivative

By End User:

  • Power Generation
  • Oil and Gas
  • Other Industrial

By Technology:

  • Open Cycle
  • Combined Cycle

By Rated Capacity:

  • Application Gas
  • TurbineNetwork Gas
  • TurbineDevice Gas Turbine
  • Social Engineering

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East & Africa

About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:                    

Future Market Insights,
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Subsea Multiphase Flowmeter Market with Potential Impact, Despite COVID-19 Pandemic, Finds FMI

Substantial increase in the focus on developing integrated flow metering solutions with automation and digitalization technologies, suitable for various applications are expected to drive the global subsea multiphase flowmeter market. As per Future Market Insights (FMI), the global subsea multiphase flowmeter market is projected to be valued at ~US$ 616.6 Mn in 2021.

The ongoing COVID-19 crisis has caused severe impact on the global economy. It has resulted in partial to complete shutdown of the supply chain networks and manufacturing activities across certain regions. Subsequently affected the subsea multiphase flowmeter market, adversely affecting growth. However, subsea multiphase flowmeter market is expected to recover sharply as the economic activity resumes post the containment of pandemic.

The production measurement segment is gaining prominence owing to its functionality of measuring the inflow and outflow of oil & gas such. Moreover, in the near future, it is expected that the scope of production measurement can be extended to enhancing inflow profiling in deepwater reserves, which will further augment demand for subsea multiphase flowmeter.

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Key Takeaways of Subsea Multiphase Flowmeter Market Study

  • Subsea flowmeter market is expected to register 8.5% CAGR between 2021 and 2031
  • The U.S. is expected to have highest market share the global subsea multiphase flowmeter market. Within North America, it is expected to account for over 66% of sales
  • The U.K. will emerge as a key market within Europe, exhibiting 5.6% y-o-y growth in 2021
  • Expansion of oil and gas production will continue supporting growth in Germany and France
  • China will continue driving sales in East Asia, backed by rising demand for energy

“Key industry participants are investing in strategic alliances, partnerships and product innovations to gain a competitive advantage in the evolving global market. These partnerships allow companies to improve their production capacity and strengthen their technical expertise.” says Future Market Insights analyst.

The subsea multiphase flowmeter market is gradually growing at a strong trend in due to increasing integration of technologies with automation and digitalization in subsea multiphase flowmeters for challenging flow metering solutions for regular production monitoring and measurement. Rise in oil and gas investments and increase in oil and gas projects provide extensive opportunities for the subsea multiphase flowmeter market.

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Competitive Landscape

The subsea multiphase flowmeter market witness moderate consolidation, in which the leading players account for more than 70% of the market share. The penetration of small regional players makes this market more competitive. Some of the key players in the market are Weatherford, Baker Hughes, AMETEK Inc., Schlumberger Limited, ABB Ltd, TechnipFMC PLC, Emerson, KROHNE Japan KK, Peitro Fiorentini S.p.a., Haimo Technologies Group Corp., and Tokico System Solutions Ltd among others. These players have higher shares in the global market, and have longstanding relationships with a number of end users, giving them an upper hand among their peers.

Find More Valuable Insights

The research report analyzes the market demand trends of subsea multiphase flowmeter. The global market estimation and growth projection is based on factors like end use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of subsea multiphase flowmeter. As per Future Market Insights research scope, the subsea multiphase flowmeter market has been studied and segmented on the basis of pipe size, application, construction material and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.

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Subsea Multiphase Flowmeter Market by Category

By Pipe Size

  • 2″ Subsea Multiphase Flowmeter
  • 3″ Subsea Multiphase Flowmeter
  • 4″ Subsea Multiphase Flowmeter
  • 6″ Subsea Multiphase Flowmeter
  • 8″ Subsea Multiphase Flowmeter
  • 10″ Subsea Multiphase Flowmeter

By Application

  • Subsea Well Testing
  • Production Monitoring
  • Production Measurement
  • Others

By Construction Material

  • Stainless Steel Subsea Multiphase Flowmeter
  • Duplex Steel Subsea Multiphase Flowmeter
  • Corrosion Resistant Alloys Subsea Multiphase Flowmeter
  • Titanium Subsea Multiphase Flowmeter
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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