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FMI presents detailed analysis and delivers key insights on the global controlled and slow release fertilizers market in its latest report titled ‘Controlled and Slow Release Fertilizers Market Forecast, Trend Analysis & Competition Tracking – Global Review 2018 to 2028’.

The long-term outlook on the global controlled and slow release fertilizers market is positive with the controlled and slow release fertilizers market pegged at a value of US$ 4,791 Mn in 2018. It is expected to reach US$ 10,222.4 Mn by 2028 end, growing at a value CAGR of 9.1%.

Among the segments by type, the encapsulated/coated controlled and slow release fertilizers segment is expected account for the lion’s share in terms of value and volume over the forecast period. The encapsulated/coated controlled and slow release fertilizers segment is expected to expand at a relatively higher CAGR.

Among regions, Asia Pacific excluding Japan (APEJ) is anticipated to retain its dominance throughout the forecast period while growing at a rate of 11.1% from 2018 to 2028. In this report, FMI throws light on the drivers and restraints likely to impact the controlled and slow release fertilizers market during this period.

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Global Controlled and Slow Release Fertilizers Market Dynamics

Market insights suggest that the global controlled and slow release fertilizers market will witness high growth during the forecast period, which can be attributed to the growing population and decreasing agricultural land. Growing food consumption and increasing need for effective fertilizers are pushing the market for controlled and slow release fertilizers.

The need for higher output with fewer resources is the driving the development of new technologies in the agricultural industry. With the use of conventional fertilizers, it is not possible to satisfy the growing demand for food. The use of slow and controlled release fertilizers improves the yield and saves labour.

New developments such as increase in the longevity and performance of coated fertilizers are pushing the market for controlled and slow release fertilizers in agricultural as well as commercial applications. The slow release of nutrients allows fertilizers to last longer and thereby increase fertilizer performance, which is driving the demand for controlled and slow release fertilizers.

Urea reaction products also accounted for a significant share of the controlled and slow release fertilizers market; however, the increasing popularity of encapsulated coated fertilizers is expected to dominate the urea reaction product segment during the forecast period.

The superior longevity of encapsulated/coated products as compared to that of urea reaction products is expected to push the growth of the encapsulated/ coated segment during the forecast.

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Global Controlled and Slow Release Fertilizers Market Segmentation Analysis

The controlled and slow release fertilizers market has been segmented on the basis of application into agricultural, commercial lawn and turf and others.

• On the basis of application, the agricultural segment is anticipated to dominate the controlled and slow release fertilizers market in terms of value and volume over the forecast period
• The agricultural segment is also projected to grow at a relatively higher CAGR over the forecast period. It is expected to represent a total incremental opportunity of US$ 3,863 Mn between 2018 and 2028 in the global controlled and slow release fertilizers market

Global Controlled and Slow Release Fertilizers Market Regional Forecast

Regionally, APEJ accounted for over 47% of the global controlled and slow release fertilizers market value while North America accounted for the second largest share in the controlled and slow release fertilizers market. APEJ is projected to be the fastest growing region with a CAGR of 11.5% during the forecast period.

Large population base and rapid population growth, improving economic conditions, change in eating habits and increasing food consumption are some of the important factors driving the demand for controlled and slow release fertilizers.

Controlled and Slow Release Fertilizers Market: Segmentation

Type

• Urea Reaction Products
• Encapsulated/ Coated

Application

• Agricultural
• Commercial Lawn and Turf
• Others

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Global Controlled and Slow Release Fertilizers Market Competition Landscape

The report highlights some of the top companies operating in the global controlled and slow release fertilizers market, including Kingenta Ecological Engineering Group Co. Ltd., Israel Chemicals Ltd (ICL), Yara International ASA, Agrium Inc., Haifa Chemicals Ltd., Koch Fertilizer LLC and Aglukon Spezialduenger GmbH & Co. KG., among others.

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Global lining market prospects are likely to be significantly influenced by the increasing investments in oil and gas exploration activities and augmenting production capacities of refineries.

Moreover, surging demand for trade through marine ports coupled with growing shipbuilding industry and frequent repair and maintenance of linings in shipping are some key factors favoring the growth of global lining market.

The global lining market is estimated to be valued at US$ 3,958.7 Mn by 2018 end. Expanding at a modest CAGR of 3.9%, the global lining market is anticipated to reach a valuation of US$ 5,820.8 Mn, over the forecast period of 2018-2028, as per a recent study by Future Market Insights.

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Marine Trade and Shipbuilding Activities Offering Potential Opportunities for Lining Adoption

Marine routes are major conveyance option for goods in the form of containers, dry and liquid bulk and roll on-roll off (Ro-Ro) type of cargos. Cost effective transfer of heavy and bulk materials in a single go fueling marine trade. Shipbuilding, too is contributing to the growth of global lining market.

Availability of all necessary resources in Asia Pacific is found to be a key factor responsible for the growth of the shipbuilding industry in the region. Moreover, low labor cost and indulgent legislations are accelerating the shipbuilding industry, further pushing the demand for marine linings over the forecast period.

Key Segments Covered

The linings market is segmented as given below:

By Product Type:

• Polymer
• Rubber
• Ceramic & Carbon Brick Line
• Tile Lining

By Chemistry:

• Solvent borne
• Waterborne
• Powder

By End Use:

• Marine
• Oil & Gas
• Construction
• Power Generation
• Chemical Industry
• Automotive
• Mining and Metal Processing
• Others

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Polymer Lining to Remain Most Preferred Across Industries Through 2028; Demand for Eco-Friendly Products to Induce Novelties in Lining Market

Segmented into polymer lining, rubber lining, ceramic and carbon brick lining, and tile lining, the global lining market will witness significant revenue contribution from the polymer lining variant. The polymer lining segment is projected to hold a dominant share in terms of both market value and CAGR index. Growing demand for linings across the globe as well as environmental regulations in developed regions are the major factors driving the lining market.

Moreover, increasing demand from marine, oil and gas, automotive, and chemicals industries is likely to drive the adoption of polymer lining in the global lining market. Epoxy resins are likely to dominant the global polymer lining market, owing to its excellent resistance to numerous chemicals couple with other technological advancements.

Although solvent borne linings are likely to hold a significant share of the global lining market, considering increasing adoption of ecofriendly lining products in developed countries would propel the adoption of waterborne and powder linings.

Stringent Government regulations and adoption of lining products with low-VOC content are key factors pushing the demand for waterborne and powder linings. Manufacturers in the global linings market are constantly investing in R&D activities to introduce new products and technologies for product differentiation, further driving the lining market.

However, volatile prices of raw materials including epoxy and polyurethane and stringent government directives regarding VOC emissions across various regions are key restrainers impacting the overall growth of global lining market.

China followed by Western Europe and North America, are likely to showcase increased adoption of linings. Fast-paced industrial growth in China is significantly contributing to sales of lining products in the region, which is expected to hold nearly 35% of the market, by 2028.

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Major global suppliers of linings are channelizing efforts towards developing partnerships with end users in order to better address the demand for specific requirements. Product customization is likely to remain a key differentiation strategy among key manufacturers in the global lining market.

Top players in the global linings market are The Sherwin Williams Company, PPG Industries, Inc, Akzo Nobel N.V., Hempel A/S, The Jotun Group, Solvay SA, Teknos Group, and STEULER-KCH GmBH.

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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 6-years.

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Over the forecast period of 2022-2032, the cryogenic valves market is expected to grow at a CAGR of 4.8% and reach a valuation of US$ 5,523.5 Mn by the end of 2032. Rising demand for cryogenic gases from various end-use sectors is estimated to drive growth in the global market over the forecast period. Development of new technologies and increasing investments in gas-based power plants are also set to push the market globally. Moreover, expansion of the food & beverage and chemical sectors in Asia Pacific is creating new opportunities for market players.

Besides, growth can be attributed to ongoing expansion of the industrial and healthcare sectors worldwide. Increasing demand for cryogenic gases such as LNG and liquid helium in rockets is likely to augur well for the global market. Also, MRI machines require cryogenic cooling, while the food sector needs to store large quantities of food, which would aid growth. Increasing development of green energy worldwide is also expected to drive growth.

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Moreover, increasing demand for energy across the globe is likely to aid the global market. Governments of various emerging economies are taking several initiatives to accelerate power production and develop their infrastructures. As per the India Brand Equity Foundation (IBEF), by 2022, the country is likely to become the world’s third largest construction market. India is estimated to need investments worth US$ 777.73 Billion across infrastructure for a sustainable development by 2022. These factors are projected to help the global market to grow at a rapid pace.

Key Takeaways from Market Study

• By valve type, the gate valves segment is expected to grow at a CAGR of 9% during the forecast period.
• By gas, the LNG gas segment is anticipated to dominate the market and account for about 1/3^rd of share.
• By end use, the power & energy segment is projected to lead the cryogenic valves market and create an absolute dollar opportunity worth US$ 128.8 Mn during the forecast period.
• In terms of region, sales of cryogenic valves in South Asia & Pacific are estimated to exhibit a CAGR of 0%.
• The China cryogenic valves market is estimated to grow at a CAGR of 7% in the assessment period.

“Increasing implementation of stringent regulations for emission control in the power generation sector and rising adoption of refrigeration systems in the F&B sector are creating new growth opportunities for cryogenic valves manufacturers,” says a Future Market Insights analyst.

Competitive Landscape: Cryogenic Valves Market

Some of the key players in the global market are Flowserve Corp., Herose, Emerson Electric, L&T, Samson, Cryocomp, Habonim, Parker Hennafin, Bray Corp.,Velan, Weir Group, Powell Valves LTD., BAC, Kitz Corporation, Mack Valves, YPS Valves Ltd, and OMB Valves SpA among others. Manufacturers are strategically collaborating with technology partners for maintaining strong relations. They are also looking forward to helping the oil and gas industry by providing technologically advanced products.

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Get More Insights on the Cryogenic Valves Market

The research report analyses the market demand trend for the cryogenic valves. The global market is based on macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the cryogenic valves market report is studied and analyzed in the following segments such as by valve type, by gas, end use & regions. The cryogenic valves market report gives us qualitative and quantitative information about the companies.

Key Segments Covered in Cryogenic Valves Market Analysis

By Valve Type:

• Globe Valve
• Gate Valve
• Check Valve
• Ball Valve
• Others

By Gas Type:

• Nitrogen
• LNG
• Oxygen
• Hydrogen
• Liquid Petroleum
• Ethylene

By End Use:

• Food & Beverage
• Healthcare
• Chemicals
• Energy & Power
• Others

By Region:

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

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The demand for solar micro inverters is expected to witness a significant upsurge on account of increase in the number of photovoltaic (PV) installations and the need to improve overall system efficiency and safety. In 2016, the global solar micro inverters market is anticipated to register a y-o-y growth of 11.4% over 2015, and reach US$ 488.2 Mn in terms of market value. The escalating demand for solar micro inverters will continue to penetrate the market for module-level power electronics, owing to falling prices and upcoming products.

The higher adoption of photovoltaic installations is a key factor driving the growth of the global solar micro inverters market. Moreover, rising preference for fully integrated PV modules or AC Modules, is anticipated to fuel the demand for solar micro inverters. The U.S. National Electric Code (NEC) also favours the usage of micro inverter technology and is driving the demand for micro inverters in the North American market. However, the use of power optimisers as an alternative to micro inverters can restrain the growth of the global solar micro inverter market.

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On the basis of system type, the global market for solar micro inverters is expected to be dominated by Stand Alone system sales, followed by micro inverter systems sold for developing AC Modules, named as integrated systems. In 2015, the stand alone solar micro inverter systems procured global market share of 96.7%, and are expected to attain estimated revenues of US$ 471 Mn by 2016-end.

By end-user type, the residential segment of the global market will continue dominance over the commercial segment by attaining a market share of 76.2% in 2016. Among residential end-users, changing consumer preference for more efficient and safe inverter alternative will prompt the replacement of conventional inverters with solar micro inverters. Dropping prices and rising commercial scale PV installations will incite extensive growth in the demand for solar micro inverters among the commercial segment as well.

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Due to the varying use of micro inverters across the world, global players are concentrating on regions where awareness about using renewable energy resources is higher. Robust adoption of PV storage systems in the U.S. will continue to fuel demand for solar micro inverters in North America, and the region is expected to attain market value of US$ 282.2 Mn in 2016. Moreover, Asia Pacific excluding Japan (APEJ) is expected to be a lucrative region for the growth of the global market. The growing trade of inexpensive inverters in China and India will boost the demand for solar micro inverters in APEJ region. The key players contributing to the growth of the global solar micro inverters market include, SMA, Darfon Electronics, ABB, APSytems, Chilicon Power, iEnergy, Enphase, NEP, SunPower, and Sparq Systems among others.

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Long-term Outlook: The global solar micro inverters market is expected to expand at a CAGR of 16.6% during the forecast period 2016-2026. Over the forecast period, North America and APEJ will continue to be the most profitable regions for the growth of the global market for solar micro inverters.

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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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As indicated by a recent research study of Future Market Insights (FMI), the market for commercial refrigeration equipment Market  will progress at a moderate CAGR over 2022 – 2029.  Sustainable and electricity-efficient refrigeration structures are set to emerge as a norm throughout the end-use industries, which ought to compel manufacturers to boom their investments in R&D and product innovations. Leveraging power-green technologies to offer low global warming capacity (GWP) merchandise with wealthy functionalities will be the price tag to capturing vast marketplace proportion ultimately.

The demand for NH3/CO2 cascade systems is also slated to go up gradually due to the advantages they offer for food processing and low-temperature distribution facilities. These benefits include low operating costs (as they use less energy per ton of refrigeration compared to other systems), lower capital and compliance costs, optimal food quality, and increased throughput.

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Witnessing an uptick of 3.4% over 2021, the worldwide sales of commercial refrigeration equipment will exceed revenues worth US$ 51 Bn by 2022 end. The demand would be prominently driven by greater production of F&B goods and a preferential shift of consumers towards quick service restaurants (QSRs), at a global level.

COMMERCIAL REFRIGERATION EQUIPMENT MARKET KEY TAKEAWAYS

• Growing demand for ready-to-eat products and expanding retail outlets are driving the sales of commercial refrigeration equipment.
• North America and Europe would collectively account for over half of the market value share by 2029 end.
• The food services sector will remain prominent application area to invest in, for commercial refrigeration equipment market players.
• The enforcement of new refrigerant regulations such as the EPA 680 Upgrade, and the Kigali Amendment for the phase-down of HFC refrigerants will largely impact the market growth.
• The higher average unit cost of freezers & refrigerators allude lower volume sales vis-à-vis value gains, with just about 2.6 million unit sales in 2021.
• Glass door merchandizers that account for around a third of total volume sales continue to see relatively low revenue generation as compared to freezers & refrigerators.
• Sales of beverage dispensers and display cases across end-use industries will show a moderate increase year-over-year in 2022, which will collectively represent nearly 16% of total commercial refrigeration equipment sales in that year.

Manufacturers who are keeping the innovation quotient high and providing turn-key solutions to meet regulatory requirements, with safety to end users at the core, will be rewarded in the long run.

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Chinese Players Striving to Win Home Market​

In developed markets, rapid acceptance of alternative refrigerants to benefit from regulatory standards along with expansion of F&B processing industries continue to contribute to the development of the commercial refrigeration equipment market.

The growth of Asia Pacific’s commercial refrigeration equipment market was influenced by a shift of Asian eating habits towards western-style convenience food. With the ability to manufacture their own compressors, Chinese companies are gaining competitive edge to reign supreme in their home market with indigenous brands.

Competition Trends

In 2021, the top four stakeholders including Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, and Hussman Corporation collectively accounted for 20-25% revenue share. The emergence of a large number of small players in developing countries has resulted into price competition, with leading market players losing their profit margins. Market fragmentation will continue through 2029, driven by regional regulatory norms and enhanced capabilities of the local players.

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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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Future Market Insights (FMI) delivers key insights on the Egypt below 30Hp centrifugal water pump market in its upcoming market forecast and outlook titled, “Below 30 Hp Centrifugal Water Pump Market: Egypt Industry Analysis and Opportunity Assessment 2015 – 2020″. The Egypt below 30 Hp centrifugal water pump market is projected to register a steady CAGR of 5.1% in terms of revenue during the forecast period due to various factors, regarding which FMI offers vital insights in detail.

FMI analyses the Egypt below 30Hp centrifugal water pump market in terms of market value (US$ Mn) and volume (units), by applications, pump type and pump capacity, and provides insightful information regarding market dynamics, value chain, competitive landscape, current trends, market estimations and forecast until 2020.
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Below 30Hp centrifugal water pumps are the most used types of pumps in the world due to robust and effective nature. Below 30 Hp centrifugal water pumps find application in various large and small scale industries such as chemicals, construction, waste water treatment and agriculture. On the basis of application type, the market has been segmented into industrial, agriculture and domestic use. The domestic application segment accounted for around 40% revenue share of the overall Egypt below 30Hp centrifugal water pump market in 2014, and is expected to register a CAGR of 4.8% over the forecast period. Agriculture application is estimated to grow at the fastest CAGR during the forecast period. Every application segment is further sub-segmented into monobloc, mini pump and submersible pump. Submersible pumps are widely preferred for all the above mentioned applications; however, monobloc pumps is expected to register a high CAGR over the forecast period. Submersible centrifugal water pumps are widely preferred in Egypt, and account for over 50% share of the Egypt below 30Hp centrifugal water pumps market.

This report covers trends driving growth of each segment and respective sub-segments and offers pricing analysis and insights for each pump type and their respective capacities. From the capacity perspective, segmentation is done on the basis of horsepower for all three types of pumps. A detailed pricing analysis is done for the same. The 25 to 30 Hp pump in the monobloc and submersible pump category are more preferred, while the 1 to 2 Hp capacity pumps account for over 50% share in the mini centrifugal water pump category.

Increasing investment in housing construction, infrastructure development, expansion of water supply network and increase in agriculture initiatives are some of the macro-economic drivers for the Egypt below 30Hp centrifugal water pump market. Political instability and price volatility are some of the factors restricting growth of the Egypt below 30Hp centrifugal water pump market. Prices of China-made centrifugal water pumps are relatively lower and this is one of the major concerns for global and regional players operating in this market. Adoption of photovoltaic powered centrifugal water pumps and solar powered centrifugal water pumps is trending in the Egypt below 30Hp centrifugal water pumps market.

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Key players in the Egypt below 30Hp centrifugal water pump market include Grundfos, KSB Pumps, Xylem Inc., Wilo, Flowserve Corporation, Calpeda and Omega Engineering Egypt. Egypt centrifugal water pump market is largely dominated by regional and local players, and these collectively account for around 70% share of the total centrifugal water pump market. Grundfos accounts for largest share among all others, followed by KSB Egypt and Wilo.

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The global sales of lead acid batter market are set to be valued at over US$ 54.3 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). The report has forecast the market to expand at over 5.2% CAGR between 2021 and 2031.

According to the market analysis by Future Market Insights, expansion of automotive production facilities to cover rural and other remote areas has led to the increasing demand for lead acid battery. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.

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Demand for lead acid battery is increasing with the rise in the volume of vehicle fleet in recent years. This can be attributed to an increase in aftermarket sales in regular interims for battery replacement.

The growing requirement has led to mass production and has increased importance of process automation in the lead acid battery market. The market is shifting towards industry 4.0 s, leading to the universal adoption of new production technologies.

There also is an increasing demand from other industries for deployment of lead acid battery. Increasing number of players focusing on research and development related to lead acid battery is anticipated to have a significant contribution towards market growth in the years to come.

Key Takeaways from Lead Acid Battery Market Study

• Flooded battery is projected to hold over 49% of the global market share in 2021 in terms of product type, supported by superior configurations.
• Transportation is projected to hold over 56% of the overall market share as leading segment in terms of application by 2031-end, supported by increasing investments in electric vehicles production.
• China will remain a chief market, backed by rising demand from the automotive industry. It is expected to account for over 57.3% of demand registered in East Asia in 2021.
• The markets India is set to surge at around 6% CAGR over the next ten years.
• Germany is emerging as a key market in Europe, accounting for over US$ 2,509.4 Mn in 2021, driven by expansion of the automotive industry.

“The lead acid battery market is growing at a strong pace, driven largely by increasing demand for energy efficient solutions across automotive sector. The increasing demand for electric vehicles will create extensive opportunities for manufacturers. Key industry participants have been focusing product diversification to offer energy efficient solutions and gain a competitive advantage,” says a Future Market Insights analyst

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Competitive Landscape

The lead acid battery market is highly competitive at regional as well as global levels, and highly consolidated in nature. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.

Some of the key players in this industry include but are not limited to Furukawa Electric Co., Ltd., Narada Power Source Co. Ltd., Clarios, Leoch International Technology Ltd., Enersys, Exide Industries Ltd., GS Yuasa Corporation, East Penn Manufacturing Co., Chaowei Power Holdings Limited., and others.

Find More Valuable Insights

The research report analyzes demand for Lead Acid Battery. The global Lead Acid Battery market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of product type, power source, 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 factors.

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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 HID ballast market is expected to decline gradually over the period of 10 years between 2022 and 2027. This market is expected to register a growth rate of -9.8% during the forecasted period. In a bid to sustain revenue growth, key market players are laying emphasis on increasing their product offerings and providing innovative products to achieve competitive edge, specifically over other local players.

One of the significant reasons behind the declining growth of the market is increasing replacement of HID with new energy efficient LED luminaries. Global sales of HID ballasts is estimated to be valued at US$ 6.8 Bn in 2022 and this is projected to drop down to US$ 3.6 Bn by 2027.

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Global HID Ballast Market: Key Regional Takeaways

• Increasing government investments for the replacement of conventional lighting with energy efficient lighting systems is expected to provide traction in the North America HID ballast market during the forecast period
• Growing adoption and subsequent sales of energy efficient lighting systems for enhanced outdoor brightness in areas such as stadiums and parking spaces is expected to create an opportunity for electronic ballasts over the forecast period
• Rising replacements of tunnel lighting and street lighting as well as a growing trend for decorative lighting is estimated to propel the Latin America HID ballast market throughout the forecast period
• Regional manufacturers are focussing on increasing the illumination efficiency of car headlights. This may influence the application of HID ballast in the automotive sector during the forecast period

Global HID Ballast Market: Forecast by Sales Channel

The sales channel segment comprises offline and online segments. Offline sales has been a prominent channel for most of the market players due to the fact that they gain direct access to the customer to portray their offerings. It offers high chances of negotiations and also helps build better business relations. On the other hand growing internet infrastructure is likely to create significant opportunities for market players aiming to capitalise on lucrative opportunities in the untapped markets of several developing nations.

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Global HID Ballast Market: Forecast by Product Type

On the basis of product type, global HID ballast market is segmented into electromagnetic ballast and electronic ballast. Electromagnetic ballast technology improves the performance of lighting systems owing to its higher efficiency, optimal lumen maintenance as well as enhanced colour control over magnetic HID Ballast. The electromagnetic ballast segment is estimated to be valued at US$ 1,038.5 Mn in 2022 and this is anticipated to reach US$ 287.1 Mn by the end of 2027. Due to limited usability and subsequently decreasing sales in the global market, the electromagnetic ballast segment is expected to shrink rapidly over the forecast period.

Global HID Ballast Market: Forecast by Application

On the basis of application, the global HID ballast market is segmented into automotive, residential, commercial, industrial, and outdoors. Automotive components manufacturers, mainly headlights and headlamps manufacturers, are focussing on the manufacturing of energy efficient lamps such as HID lamps and LED lamps to enhance the vision of the driver. The automotive application segment was pegged at 64,510 (‘000 Units) in 2021 and is expected to reach 28,327 (‘000 Units) by 2027 end while expanding at a CAGR of -7.5% over the forecast period.

Global HID Ballast Market: Forecast by Region

The key regions of North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA are covered in this report. Growing construction infrastructure, a rapidly expanding commercial sector and rising demand for outdoor and parking lighting are providing high traction for the HID ballast market in APEJ.

Global HID Ballast Market: Competitive Landscape

Some of the key leaders operating in the global HID ballast market are Philips Lighting Holding B.V., General Electric Company, Fulham Co., Inc. Villa Industrias, S.A. de C.V., Eaton Corporation

Westinghouse Electric Corporation, Morimoto HID, Satco Products Inc., Howard Industries, Inc., Halco Lighting Technologies, Iris Energy Private Limited, OSRAM Licht AG, HELLA KGaA Hueck & Co., Universal Lighting Technologies, GUANGZHOU FUCHW INDUSTRIAL CO., LTD., Lighting and Power Technologies, LLC, and Advanced Lighting Technologies, Inc.

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The market for Heat Recovery Steam Generator review with heat recovery will surpass US$ 1.1 billion in 2021. The demand for energy-efficient power generation solutions and rising investments in enhancing power plant efficiency are identified as the main growth drivers.

These factors are expected to cause the market to expand at a steady CAGR of 5.7 percent, with the U.K., the U.S., Germany, and Japan emerging as major producers.

As per ESOMAR-certified consulting firm Future Market Insights (FMI), the global heat recovery steam generator market is anticipated to reach US 1.1 Bn in 2021. With the U.S., the U.K., Germany, and Japan emerging as key producers, the market is poised to grow at a 5.7% CAGR through 2031.

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In addition, government initiatives in counties such as the U.S., the U.K., India, and China regarding the promotion of renewable energy will spur demand for heat recovery steam generators in the forthcoming years.

Further, sophisticated customization and innovative product solutions offered by OEM’s and heat recovery steam generator players will continue providing tailwinds to sales.

As per FMI’s regional analysis, the U.K. is anticipated to lead the European heat recovery generator market. Stringent regulations regarding carbon emissions in the European Union, coupled with increasing adoption of renewable energy sources will enhance growth prospects through 2031.

“Increasing investments in the power generation sector to improve efficiency, coupled with inorganic growth strategies adopted by OEMs for better market reach will continue augmenting growth in the forthcoming years,” says the FMI analyst.

Key Takeaways:

• Fully assembled heat recovery steam generators will remain the most preferred type of design.
• In terms of configuration, horizontal drums will account for maximum sales.
• Based on output power, 0-60 MW segment is poised to experience high demand.
• Combined heat and power plants will dominate the application segment.
• The U.S. is anticipated to witness high demand for heat recovery steam generators, owing to increasing energy production and need for sustainable methods. The North American market is poised to grow at a 4.4% CAGR.
• The U.K. will continue leading the European heat recovery steam generator market, expanding at a 4.6% CAGR.
• Demand for heat recovery steam generators will continue rising in China, due to rising adoption of combined cycle plants.
• India will emerge as a lucrative market, owing to government-backed initiatives promoting renewable energy production.
• Japan and South Korea will collectively account for 5% of the total market share.

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Competitive Landscape

Cleaver-Brooks, Siemens AG, General Electric, CMI Group, John Wood Group PLC, Cannon S.p.A., Mitsubishi Hitachi Power Systems, Ltd., Rentech Boilers Systems Inc., Hamon Deltak, Inc., AC BOILERS SpA, SES Tlmače, a.s., and Xizi United Holdings Limited are some players operating in the heat recovery steam generator market profiled by FMI.

Top 5 players in the market include General Electric, Siemens AG, CMI Group, John Wood Group plc, and Mitsubishi Hitachi Power Systems Ltd., accounting for 75.5% of the total market share.

Leading players, as a part of their growth strategies, are focusing on strategic collaborations, mergers, and acquisitions to expand their global footprint and improve their product portfolios. For instance:

• In August 2021, Siemens Energy and state-owned Egyptian Electricity Holding Co. have signed a memorandum of understanding to develop a hydrogen-based, including a 100-200 MW pilot electrolyzer facility for the clean energy industry.
• In August 2021, Mitsubishi Power’s Philippines unit secured a three-year term service agreement to maintain boilers of the Davao coal plant of Aboitiz Power Corp. The agreement is intended to maintain reliable energy access in Mindanao.

Heat Recovery Steam Generator Market by Category

By Design Type: 

• Modular Construction
• C-Section Construction
• Bundle Construction
• Fully Assembled

By Configuration Type:

• Horizontal Drum Units
• Vertical Drum Units
• Horizontal-Once Through Units

By Output Power Type:

• 0-60 MW
• 60-100 MW
• 100 MW & Above

By Application Type:

• Co-generation (Process Heating)
• Combined Cycle
• Combined Heat & Power (CHP)

By Region, Heat Recovery Steam Generator Market is segmented as: 

• North America
• Latin America
• Western Europe
• Eastern Europe
• China
• Japan
• India
• South East Asia & Others (SEA)
• Middle East & Africa (MEA)

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Future Market Insights has published a new market research report on the medium voltage transformer market that contains global industry analysis during and opportunity assessment during 2022–2028. The report covers the latest trends, key success factors, market influencing factors, key information, forecasting factors, macroeconomics factors, and past market scenario.

The report analyzes the medium voltage transformer market and provides critical insights for the forecast period of 2022-2028. The global medium voltage transformer market stands at a net worth of US$ 11.7 Bn in 2022, and is predicted to rise at a CAGR of 4.6% over the forecast period (2022-2028) to attain a valuation of US$ 16.1 Bn by 2028.

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As per the key findings of the report, the global medium voltage transformer market is expected to witness considerable growth in upcoming years, due to the steady increase in adoption of smart grids, increasing urbanization, rapid growth in power generation, and increasing government investments for electrification.

Increasing Government Investments for Electrification Expected to Drive the Market Growth

Government of various countries have planned to increase their funding for various projects related to electrification, such as railway electrification, transmission and distribution, and urbanization, among others. For instance, governments in countries such as Brazil and Mexico are planning to invest in electrification. These projects support the state electric boards (SEBs) in order to provide better power supply to rural and urban areas of the region or country.

In addition, the government of India is also planning to make huge investments in numerous projects, such as Revised Accelerated Power Development and Reform Program and Rajiv Gandhi Grameen Vidyutikaran Yojna, among others, for establishing new power grids so as to provide electricity in the rural areas of the country. Also, the government is focusing on installing new transmission lines and transformers in order to create a national grid, which will interconnect all the five regions of India — Northern, Southern, Eastern, Western, and North Eastern. This national grid is known as ‘Transmission Super Highways’. Thus, growing infrastructure and electrification in various regions is set to increase the demand for medium voltage transformers.

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Increasing Urbanization and Industrialization Estimated to Create High Sales Opportunity

Rural electrification projects, new power plants, as well as transmission and distribution facilities are some of the new developments that are being introduced in various countries in Middle East & Africa to increase urbanization and industrialization. Electrification projects are growing at a faster rate in countries, such as the United Arab Emirates, Qatar, Turkey, etc. Additionally, for the proper execution of these projects, medium voltage transformers are required for almost all applications. Thus, growing urbanization and industrialization will drive the medium voltage transformer market growth in the MEA region.

Medium Voltage Transformer Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global medium voltage transformer market. Few examples of key players in themedium voltage transformer market are Siemens AG, ABB Group, General Electric Company, Fuji Electric Co., Ltd., Hitachi, Ltd., Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, Jinpan International USA Ltd., CG Power & Industrial Solutions Ltd., Fortune Electric Co., Ltd., Schaffner Holding AG, Hammond Power Solutions Inc., Kirloskar Electric Company, and MGM Transformer Company, Amran Inc., among others.

For instance, medium voltage transformer manufacturers are focusing on providing compact size and environmental-friendly medium voltage transformers. The compact size can better manage moisture and thermal stress, and their average life span is higher. Additionally, eco-friendly transformers promise lower load loss as compared to other conventional transformers. Therefore, the rising demand for lighter, smaller and eco-friendly medium voltage transformers is likely to shape the future of the medium voltage transformers market.

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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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