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The oil and gas fittings market to register year-on-year growth of 3.2% CAGR  in 2022 reaching a value of about US$ 1,326.8 Mn by 2022 and US$ 1,675.4 Mn in 2029

Oil and gas fittings such as tees and flanges are major segments expected to dominate the market. It is used in upstream, midstream, and downstream applications, with the most popular upstream fittings such as adapters, male pins, and studded crosses.

The global oil and gas fittings market is estimated to reach ~US$ 1.2 Bn in 2019, and increase at a CAGR of ~3% in the forecast period 2019-2029. This growth is majorly driven by the increasing consumption of oil and gas fittings in upstream and downstream operations.

According to FMI’s analysis, the oil and gas fittings market is set to witness a steady growth, on the back of growing upstream as well as downstream contracts and rising investment in refinery upgradation projects, in addition to rapid replacement activities.

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East Asia Region Projected to Witness Bolstering Growth

North America is projected to hold significant market share in the global oil and gas fittings market value owing to new and replacement projects for the installation of oil and gas fittings that are targeted in this market study.

However, the East Asia market is anticipated to project rewarding growth in the global oil and gas fittings market over the forecast period 2019-2029, with China being a leading country.

This is driven by the rapid growth of onshore drilling projects coupled with the rising number of oil and gas pipeline projects in China. Apart from that, Africa will pose a strong opportunity for the manufacturers of oil and gas fittings to acquire new contracts and ventures during the forecast period.

Additionally, macroeconomic factors such as crude oil and natural gas production and consumption, oil and gas production data by key countries, and increasing number of new oil and gas pipeline projects, and pipes, valves, and fittings (PVC) contracts are some of the other factors that are boosting the growth of oil and gas fittings market.

Downstream Operations Will Drive the Demand for Oil and Gas Fittings

The global oil and gas fittings market has been segmented on the basis of product type, working pressure, material type, operation, application, and regions such as North America, Europe, Latin America, East Asia, South Asia, Oceania, and Middle East and Africa.

• By product, tees and flanges are estimated to hold significant value shares of the global oil and gas fittings market.
• On the basis of material, carbon steel and alloy steel are projected to have strong growth over the forecast period in terms of value. However, the use composite and fiberglass materials will positively influence the oil and gas fittings market with rapid growth.
• In terms of operation, the deployment of oil and gas fittings in downstream operation will continue to account for significant sales. However, growing application in upstream operation is anticipated to result in increased market share during the forecast period. The growing number of projects related to new drilling wells in onshore operations will further drive the installation of new oil and gas fittings.

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Global Oil and Gas Fittings Market by Category

By Product Type:

• Tees
  • Studded Tees
  • Flow Tees
• Flanges
  • Blind/Test
  • Companion
  • Weld Neck
• Adapters
  • Bottom Hole Test Adaptors
  • Double Studded Adapters
• Male Pins
• Studded Crosses

By Working Pressure:

• Less than 1000 psi
• 1000 – 2000 psi
• 2000 – 3000 psi
• 3000 – 4000 psi
• 4000 – 5000 psi
• Above 5000 psi

By Operation:

• Upstream
• Midstream
• Downstream

By Material Type:

• Carbon Steel
• Stainless Steel
• Alloy Steel
• Fiberglass
• Composite
• Others

By Application:

• Onshore
• Offshore

By Region:

• North America
• Europe
• MEA
• East Asia
• South Asia
• Oceania
• Latin America

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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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The sales of carbon steel tubes for lift application in Oil and Gas industry is projected to be worth around US$ 5.57 Bn in 2022. With bourgeoning demand for oil and gas across the world, the overall market is projected to grow at a steady CAGR of 3.9% between 2022 and 2028, surpassing a valuation of US$ 7 Bn by 2028.

Rising energy consumption around the world is encouraging governments to invest more in oil and gas activities. This in turn is fueling the demand for better drilling and artificial lifting equipment such as carbon steel tubing.

Based on end use, the onshore segment accounts for a major share of 95% in the global carbon steel tubing in oil and gas lift applications in 2022. This can be attributed to the rising number of onshore oil and gas drilling projects in the world.

Increasing number of horizontal wells in U.S coupled with flourishing oil and gas production in Gulf Of Mexico, Alaska, and the other states, will further spur the growth of carbon steel tubing market through 2028.  This growth is projected to present potential opportunities to oil and gas companies looking to expand their onshore activities. Also, high cost and complexities associated with offshore activities would result in service providers switching to onshore activities.

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Geographically, North America is projected to dominate the carbon steel tubing landscape considering ongoing developments in hydraulic fracturing market for the production of shall gas.

Increased Oil and Gas Upstream Operations to Boost Carbon Steel Tubing in Lift Applications

FMI envisages increasing number of horizontal wells to significantly contribute towards deployment of carbon steel tubing in Oil and Gas upstream operations, further presenting potential market opportunities to manufacturers and suppliers of carbon steel tubing.

Moreover, oil and gas companies replacing the aged and damaged cast and wrought iron pipes with carbon steel tubing, will drive up the adoption. Another key factor driving the demand for carbon steel tubing is the recovering Oil and Gas industry and efforts to facilitate this recovery process. Increasing shale drilling activities in U.S and Canada will also boost the demand for carbon steel pipes during the forecast period. Moreover, technological advancements in coating products to fight pipe corrosion has also supported the deployment of carbon steel tubing in oil and gas lift applications.

Material Alternatives & Over Production of Chinese Steel Could Negatively Impact Carbon Steel Tubing Market

However, availability of material alternatives such as steel, alloy steel, chromium steel, fiber glass, fiber reinforced plastic, and corrosion resistant alloys could restrict the adoption of carbon steel tubing in oil and gas lift applications. Oil and gas companies change their tubing requirements as per the required application in onshore and offshore coupled with varying temperature conditions.

Another key factor anticipated to negatively impact the manufacturing of carbon steel tubing is the skewed supply demand ratio of steel attributable to excessive production and oversupply of Chinese steel. This situation lead to cheap exports and subsequent shutting down of many steel plants, which further resulted in price crash of carbon steel.

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NPD & Tie-Ups to Remain Key Forward Market Strategies in the Moderately Concentrated Carbon Steel Tubing Market

FMI forecasts moderate concentration and high competition in global market for carbon steel tubing in oil and gas lift applications, considering the presence of dominant Chinese and other Asian players. Moreover, high initial setup costs acts as a barrier to the entry of new players in the market.

In terms of overall market strategies, development of robust, innovative tubes coupled with strategic partnerships and tie-ups with end-use companies and distributors will fit the grand scheme of things. For more insights about the competitive landscape and other strategies that will define the future course of carbon steel tubing in Oil and Gas lift application, write in at press@futuremarketinsights.com

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The global polymer solar cells market is projected  to register a high CAGR of 21.5% during this period to reflect a market evaluation of a little more than US$ 290 Mn by the end of 2027 from an estimation of about US$ 34 Mn in 2016.

This research report also studies several opportunities for manufacturers and suppliers/distributors of the polymer solar cells market across key regions of North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Latin America, Japan and Middle East and Africa (MEA).

An in-depth market segmentation of the polymer solar cells market assists to estimate the volume and value projections for a period of ten years, from 2017-2027.

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Global Polymer Solar Cells Market: Forecast

Analysis of Future Market Insights points out to a huge growth of the polymer solar cells market during the assessment period of 2017-2027. According to the global research report on polymer solar cells, the global market is anticipated to reach a value of US$ 296.3 Mn from a market evaluation of US$ 34.5 Mn in 2016 with a boosting CAGR of 21.5% throughout the period of assessment.

Global Polymer Solar Cells Market: Dynamics Impacting the Global Market

The main aspects boosting the growth of the global polymer solar cells market is the development of the electronics and electrical industry, rising demand for sources of renewable energy, increasing government support and initiatives, increasing construction activities associated with green buildings along with expanding automobile and the construction industries.

Various trends are discussed in the research study, which have an indirect impact on the market’s growth, to name a few, the enhancement of manufacturing techniques of polymer solar cells (which reduce costs and enhance performance), development of electronic devices, improvement in the energy payback time with respect to both finance and energy, focusing on development of new material in order to make photovoltaics as the best alternative to organic fuels, development of new plastic solar cells to minimize energy loss and increasing the life span of organic solar photovoltaic cells.

However the global polymer solar cells market is not without of challenges. High dependency on fossil fuels, high fluctuations in the prices of oil and gas, comparatively less power conversion capacity, higher dependency on hydroelectricity, low stability and strength, availability of alternatives and limited operational life of organic solar cells might pose restraint to the growth of the global polymer solar cells market.

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Global Polymer Solar Cells Market: Segmental Snapshot

The global solar cells market is segmented by junction type (single layer, bilayer, bulk heterojunction, multi junction and others), by technique (printing technique, coating technique), by application (BIPV consumer electronics, automotive, defense and emergency and others) and by region (North America, Western Europe, Eastern Europe, Latin America, Asia Pacific excluding Japan, Japan and Middle East and Africa).

By region, Asia Pacific excluding Japan (APEJ) region is anticipated to dominate the global polymer cells market with respect to high market share during the forecast period. This region is projected to grow at the highest CAGR of 24.6% throughout the period of assessment 2017-2027.

The main contributor is China, which shows high potential and is the fastest growing country with a high CAGR of 25.5% during the forecast period. North America, Japan and Western Europe also poised to show significant growth in the coming years

By product type, the multi-junction segment is expected to grow at a higher pace than any other segments during the assessment period. However, the bulk heterojunction segment is estimated to show higher market share thus leading the global polymer solar cells market

By technique, the printing segment is expected to show a high market share and high growth rate than the coating segment, to reach a value a little under US$ 240 Mn and is poised to register a robust CAGR throughout the forecast period

With respect to the application category, the BIPV segment is poised to grow at the highest rate to register a CAGR of 23.3% during the assessment period. It is also anticipated to witness high market share, thus leading the global polymer solar cells market by application

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Global Polymer Solar Cells Market: Competition Analysis

The global polymer solar cells market has included several key players involved in the manufacturing and supply of polymer solar cells. The report has profiled companies such as Heliatek GmbH, InfinityPV ApS, BELECTRIC OPV GmbH (OPVIUS GmbH), SUNEW, Solarmer Energy, Inc., Armor Group, Solvay S.A., Eight19 Ltd., SolarWindow Technologies, Inc., and Raynergy Tek Incorporation.

Market Segmentation

By Junction Type

• Single Layer
• Bilayer
• Bulk Heterojunction
• Multi-junction
• Others

By Application

• BIPV (Building Integrated Photovoltaic)
• Consumer Electronics
• Automotive
• Defence and Emergency
• Others

By Technique

• Printing Technique
• Coating Technique

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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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The global solar charge controller market titled ‘Solar Charge Controller Market: Global Industry Analysis 2013–2017 and Forecast, 2018–2028’. According to FMI, the solar charge controller market was valued at US$ 1.4 billion at the end of 2017 and is anticipated to grow at an impressive CAGR to reach US$ 3.4 billion by end of the forecast period.

• Global Solar Charge Controller market size in 2017 was nearly US$ 1.4 billion
• The Solar Charge Controller market will observe just-above 8% CAGR over 2018-2028

FMI finds that in 2018, East Asia and Europe were attractive regions in the solar charge controller market, accounting for more than 49% of the global market share. The demand for solar charge controllers is witnessing a linear trend with rising demand for offgrid solar panel systems from economies, such as China, India, USA, Brazil and some of the ASEAN and African countries.

Developing economies, such as China, India, Malaysia and Brazil, are anticipated to positively influence the sales of solar charge controllers. Government initiatives related to subsidiaries for solar panel systems led by China, India and some of the Latin American countries are expected to further intensify the deployment of solar panel systems and solar charge controllers.

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Increasing orders related to off-grid solar panel systems and solar charge controllers for deployment in remote and residential applications are expected to positively impact the growth of the global solar charge controller market during the forecast period.

Developments in solar charge controllers, such as auto night detection, LCD display, overcharging protection and growth in communication solutions integrated with solar charge controllers, are driving the growth of the global solar charge controller market. The growth of solar charge controllers market is being positively impacted by the deployment of offgrid solar panel systems.

30A to 50A Solar Charge Controllers to Hold One Third Share in Market Growth

Based on current charging capacity, solar charge controllers with 30A to 50A is anticipated to remain the primary sub-segment in terms of market share, covering nearly 33% by the end of 2028. Growth in demand for lead acid battery for storage applications in developing economies is anticipated to impact the sales of solar charge controllers.

Further, the rise of new entrants in the global solar charge controller market will initiate new production bases in developing economies for solar charge controllers.

Based on technology, the MPPT based solar charge controllers will register high growth rate and are anticipated to be a prominent segment in the global solar charge controller market. PWM based solar charge controllers are expected to account for an estimated value of US$ 1,980.5 Mn by the end of 2028.

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Key Segment

By Current Charging Capacity

• up to 8A
• 8A to 20A
• 20A to 30A
• 30A to 60A
• 60A to 80A
• 100A to 250A
• Above 250A

By Battery Type

• Lead acid Battery
• Lithium Ion Battery

By Technology

• Pulse Width Modulation (PWM)
• Maximum Power Point Tracking (MPPT)

By Region

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

Solar Charge Controller Market will Remain Highly Fragmented

The global solar charge controller market is highly fragmented and the tier-1 players contribute to nearly 1/3^rd of the market share. The competition among the global and regional players is becoming intensified due to rise of new players in developing economies.

Leading manufacturers of solar charge controllers are widespread, with both regional and global players offering solar charge controllers in their targeted marketplaces.

Manufacturers are concentrating on acquiring new orders for the installation of solar charge controllers. Further, the adoption of MPPT based solar charge controllers will be a driving factor for the growth of the global solar charge controller market.

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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The flare gas recovery system market is estimated to reach US$ 1.05 Bn in 2021. According to the study, the overall flare gas recovery system market valuation is forecast to top US$ 1.7 Bn by 2031. Compressor technology is expected to remain highly sought-after, and sales of modular flare gas recovery system will increase at a steady pace, exhibiting growth at a 5.7% CAGR in 2021.

In 2020, the unprecedented COVID-19 outbreak suspended all industrial activities and delayed several oil and gas projects to an extent. The market also saw a significant dip in sales of FGRS within end-use sectors including oil and gas, chemicals, and industrial fuel gas treatment.

However, government initiatives to resume operations in heavy industries to full capacity and resumption of stalled project activities is likely to propel sales of flame gas recovery systems in the forthcoming years.

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Competitive Landscape

Leading companies operating in the global flare gas recovery system market are focusing on expanding their presence in emerging market to improve sales. Apart from this, players are investing in mergers, acquisitions, strategic collaborations, and partnerships to strengthen their distribution channels and to expand production facilities. For instance:

• In 2020, Zeeco, Inc., announced that Saudi Aramco has granted 9COM approval to Zeeco for a variety of combustion equipment manufactured at the Zeeco Middle East, Ltd. facility in Dammam.
• In 2018, Busch Vacuum Pumps and Systems announced that the Swiss-based engineering company NSB Gas Processing is now part of its group. NSB Gas Processing has been renamed Busch NSB AG. Busch NSB product portfolio offers a wide range of flare gas recovery systems, a sub-sector of the oil and gas industry.

• Honeywell UOP
• Cimarron Energy, INC.( Jordan Technologies)
• Wärtsilä
•  Zeeco, Inc
• SoEnergy International
• John Zink Hamworthy Combustion
• Ramboll Group, Inc.

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Flare Gas Recovery System Market by Category

By Operating Pressure:

• Upto 5 bar (small)
• 5 to 10 bar (medium)
• 10 to 20 bar (large)
• 20 to 60 bar ( very large)

By Configuration:

• Modular
• Skid Mounted

By Technology:

• Compressor
• Ejector Based

By Flow Rate:

• Upto 2 MMSCFD
• 2 to 5  MMSCFD
• 5 TO 10 MMSCFD
• 10 TO 20 MMSCFD
• 20 to 50 MMSCFD

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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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Future Market Insights has its analysts involved in a report’s comprehensive study, which is on digital oilfield solutions market. With the help of this comprehensive study, analysts revealed that digital oilfield solutions market is anticipated to grow at a CAGR of 6.3% over the assessment period, 2018-2028. In addition, digital oilfield solutions market on a global basis is projected to touch an estimate of approximately US$ 54,415Mn by the end of 2028.

Rapidly increasing need for accessing data in real-time, sound shelf life, convenient operation and installation, as well as zero tolerance band with regards to parameters observation to be monitored has been positively impacting the growth of digital oilfield solutions market across the globe. Apart from this, wide-ranging operations in oil & gas industry have been stimulating the production sales of digital oilfield solutions since the recent past.

Analysts further revealed that launch of effective and innovative digital oilfield solutions can be taken up as a remarkable trend, impacting positively on the growth of digital oilfield solutions market in the coming years. Moreover, analysts have assured that they have been catering to the prevailing as well as growing concerns of industry operators and market observers in the digital oilfield solutions market across the globe. 

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What are the recent measures taken up by manufacturers for expansion of digital oilfield solutions market?

Well, so far, manufacturers are entering into strategic collaborations with the technology providers for the purpose of business and customer-base expansion.

Can you mention what is trending in the digital oilfield solutions market?

Well, so far, analysis helped in concluding that there is significant increase in adoption of the LTE, with regards to technological advancements, positively impacting the growth of offshore oil & gas industries. Increasing partnerships amongst the leading companies across oil and gas industry for the purpose of digitally transforming the industry has been supporting the expansion of digital oilfield solutions market.

What are the important factors driving the growth of digital oilfield solutions market?

Well, so far, analysis helped in concluding that rapidly increase requirement for finding out any theft or counterfeiting during downstream and midstream operations is one of the major factor driving the growth of digital oilfield solutions market across the globe. Apart from this, increasing need for eliminating oil spills as well as losses while monitoring inventory levels, internal transfer of the intermediates and explorations is driving the demand and supply of digital oilfield solutions across the globe.

Which countries are the most beneficial for the expansion of digital oilfield solutions market?

The comprehensive study points out that Western Europe is likely to dominate the digital oilfield solutions market on a global basis over the assessment period. Apart from that, North America is expected to create significant growth opportunities for the digital oilfield solutions market in the coming years.

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Which companies are leading in the digital oilfield solutions market?

The comprehensive study points towards Eaton, SIEMENS AG, Emerson Electric Co., Honeywell International, Inc., General Electric, ABB, Schneider Electric and Rockwell Automation, Inc. as the companies leading in the digital oilfield solutions market on a global basis.

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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The  global wood pellets market is set for astounding growth at approximately 11% CAGR through the forecast period (2021-2031). Consumers in developed countries exhibit rising dependency on renewable sources such as pellet-based fuel, thereby driving sales.

Moreover, high price point of fossil fuel is accentuating the demand for pellet-based fuel sourced primarily from wood waste, agricultural residue and forest waste. Leading manufacturers are focused on implementing compliance plans, which include dedicated biomass power plants and co-firing.

Key Takeaways of Wood Pellets Market Study

• Growing adoption of renewable energy continues to drive the sales of wood pellets.
• High combustion efficiency is the chief attribute surging the demand for wood pellets.
• Enhanced government incentive and favorable policies contribute substantially to the growth of wood pellets market.
• Europe holds a whopping 51.4% share in global wood pellets market.
• Asia Pacific to exhibit significant growth over the course of forecast period.
• Respiratory problems triggered by wood dust is stagnating the demand of wood pellets.

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Stakeholders in wood pellets market must direct massive pecuniary resources towards R&D activities for product diversification, along with capacity expansion initiatives to fortify competitive ascendancy.

Market Gains to Remain Concentrated in Europe

Europe is the leading regional market of wood pellets, in terms of consumption. Strong active presence of globally leading manufacturers in this region is giving impetus to production capacity as well. Timber and dry sawdust are predominantly preferred by manufacturers for wood pellets production.

On account of low carbon emissions, pellet-based fuel continues to gain prominence in countries such as the United Kingdom, Germany, Italy and France. Low production cost, mounting environmental concerns, and easy availability are some of the factors contributing to the growth of wood pellets market. Moreover, innovations in combustion technology and established logistics network are bolstering the wood pellets market in Europe.

Product and Cost Differentiation to Remain Strategic Focal Point for Market Leaders

Global wood pellets market is highly fragmented.  Major players profiled in this study include, but are not limited to, Georgia Biomass, LLC, Enviva Partners LP, Wood Pellet Energy (UK) LTD, Andritz AG, Energex, and Pinnacle Renewable Energy Inc. In a bid to remain prominent, industry leaders are channelling their resources towards product and cost differentiation.

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Particle density, melting point, mechanical durability, moisture and ash content continue to remain key research areas in wood pellets industry. Moreover, companies are intensifying their efforts towards developing cleaner burning fuel, as opposed to fossil fuels.

Wood Pellets Market: Segmentation

The global wood pellets market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

By Feedstock

• Forest and Wood Waste Resources
• Agricultural Residue and Waste
• Food Waste
• Virgin Lumber
• Energy Crops

By End-use Industry

• Residential/Commercial Heating
• CHP/District Heating
• Co-firing

By Region

• North America
• Latin America
• Europe
• MEA
• Asia Pacific

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
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Plot No: JLT-PH2-X2A
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