Small Wind Market Is Expected To Grow At A CAGR Of 14.3% CAGR from 2014 to 2025: Grand View Research, Inc.

The global small wind market is expected to reach USD 1.79 billion by 2025, according to a new report by Grand View Research, Inc. Increasing awareness about renewable energy along with government regulations to control growing carbon footprint is further propelling the market growth.

Increasing global population coupled with rising energy deficit are some of the factors anticipated to positively influence the small wind market. In addition, the gradual reduction in per kilowatt prices along with affordable installation prices of wind turbines for electricity demand will favor the business growth.

Stringent government regulations are encouraging grid connectivity to reduce the burden on use of non-renewable sources for electricity generation. Numerous financial and economic benefits including Feed-in-Tariffs (FiT), Production Tax Credit (PTC), Investment Tax Credit (ITC) among others are expected to augment the small wind market growth over the forecast period.

The off-grid application segment of the small wind market is expected to account for 59.58% of the global market share in 2025. The demand for off-grid wind turbines can be attributed to the long standing conventional methods of harnessing this energy for electrification, however, this segment is set to witness a decline due to the government initiatives launched to boost grid connectivity. Such regulatory initiatives will boost the on-grid segment of the small wind market over the forecast period.

Horizontal axis wind turbines (HAWT) are the preferred axis type in the global small wind market given the ease in installation coupled with affordable pricing. However, the Vertical Axis Wind Turbine (VAWT) is fast gaining consumers’ attention and is expected to grow at a higher rate over the forecast period.

Europe was the leading region due to changing perceptions towards adoption of renewable energy. Large scale investments along with high consumer awareness is predicted to drive the small wind market by 2025. The abundant availability of onshore and offshore regions for wind turbine installation options is augmenting the growth of the regional market over the forecast period. 

U.S. small wind market revenue, by axis type, 2014 - 2025, (USD Million)

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Further key findings from the report suggest:

• The small wind market is anticipated to witness growth at over 14.3% from 2017 to 2025 on account of increasing awareness about towards emission free renewable energy. Vertical axis wind turbines will grow at the fastest rate in terms of revenue, registering a CAGR of 18.7%, during the forecast period owing to its innovative design and energy efficiency.
• Europe small wind market is predicted to witness substantial growth and was valued at USD 228.0 million in 2016 owing to rising demand control the region’s carbon footprint.
• Key participants of the small wind market include City Windmills, Envergate, Dibu Wind, Kingspan Wind, Superwind, Kliux Energies, and Bergey Windpower among others. These companies are focused on increasing their global presence using product modernization and design innovation strategies.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

Photovoltaic Materials Market Is Predicted To Grow Swiftly Due To Increasing Solar Photovoltaic Installations Globally Till 2025: Grand View Research, Inc.

The global photovoltaic materials market is expected to reach USD 36.23 billion by 2025, according to a new report by Grand View Research, Inc. The growing PV installations coupled with rise in module manufacturing facilities in Asia Pacific is driving market demand.

The demand for photovoltaic materials is the highest in the construction of solar cell. The growing number of PV projects commissioned by the government is boosting the consumption. The government incentive offered on building integrated photovoltaics is expected to further augment market demand.

Asia Pacific accounted for the maximum market share owing to the presence of a large number of module manufacturers in China and India. The slowdown in the Chinese manufacturing sector due to sanctions imposed by the government is expected to force module manufacturers to turn towards other developing countries. The growing exports of solar cells from Asia Pacific to North America and Europe are expected to have a positive impact on market demand.

Germany photovoltaic (PV) materials market, by material, 2014 - 2025 (USD Million)

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Further key findings from the report suggest:

• Polycrystalline silicon dominated the material segmentation with a market share of 62% in 2016.
• Copper Indium Gallium Selenide material segment is projected to grow at a CAGR of 13.3% from 2017 to 2025 owing to research on new materials to be used in the construction of solar cell.
• Encapsulant products are anticipated to grow at a CAGR of 11.8% from 2017 to 2025 due to high demand for these products in thin film and silicon wafer modules
• Europe market share is expected to decrease to around 14% in 2025 owing to growing exports of PV modules from Asia Pacific.
• Middle East & Africa is anticipated to grow at a CAGR of 8% from 2017 to 2025 owing to governments in these regions investing heavily in solar PV installations.
• The industry participants are engaged in research on new materials used in the manufacturing of solar cells.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

Microgrid Market Is Projected To Grow Due To Enhanced Demand In Household And Industrial Sectors Till 2025: Grand View Research, Inc.

The global microgrid market is expected to reach USD 17.51 billion by 2025,growing at a CAGR of 17.0%, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China and India as a result of favorable government policies to attract investments is expected to promote market growth.

Microgrid differs from conventional electrical distribution system as it acts a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations.

Rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years.

U.S. microgrid market, by power source, 2014 - 2025 (USD Million)

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Further key findings from the report suggest:

• The global microgrid demand was stood at 1.48 GW in 2016 and is projected to reach 6.54 GW by the end of 2025, expanding at a CAGR of 16.3% from 2017 to 2025.
• Remote microgrid market demand was 568.2 MW in 2016. The segment is expected to foresee tremendous gains owing to the upcoming installation of new projects in Arctic circle, Russia
• Natural gas is expected to witness revenue growth at a CAGR of 18.1% from 2017 to 2025. The governments of Russia and Syria signed Russia-Syria Offshore Gas Deal which is aimed for exploration and production of natural gas in Syrian Coast. The abovementioned favorable trends in natural gas industry of Russia is expected to open new markets.
• Utility is projected to account for 9.6% of global volume share by the end of 2025 as a result of increasing power demand amid the inclusion of new HVAC and heavy load machinery in manufacturing sector
• North America is expected to account for 71.4% of global revenue by the end of 2025. The increasing number of new solar PV microgrids for utility in Northeast and West regions of the U.S. is expected to have a positive impact.
• Key vendors include Siemens AG, Exelon, GE, Lockheed Martin Corporation, Lockheed Martin Corporation, ABB Group, Power Analytics, Toshiba Corporation, Honeywell International Inc, ZBB Energy Corporation, Echelon Corporation and Schneider Electric. In November 2016, Exelon launched five new microgrids at USD 250 million through the assistance with Anarbic. This launch is anticipated to play a crucial role in increasing the market share of Exelon in global industry over the next eight years.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

Hydropower Market Is Projected To Witness Growth Based On Growing Number Of Funding Programs Till 2020:Grand View Research, inc.

The global installed capacity for hydropower is expected to reach 1,524 GW by 2020, according to a new study by Grand View Research, Inc. Cost advantages of hydropower based electricity generation and the substitution of fossil fuel based power production in an attempt to reduce carbon emission is expected to drive market demand. According to the estimates of the International Energy Agency (IEA), the deployment of sustainable hydropower as proposed by this organization will help avoid approximately one billion tones of annual carbon dioxide emission by 2050. 

Rapid rise in demand for renewable energy especially in China, India and Brazil and the construction of key hydropower projects including the installation of 32 turbines and the completion of the third phase of the Three Gorges Dam in China in 2012, will fuel the future growth of this market. Supportive regulatory framework for sustainable energy in the U.S. and European Union is also expected to have a positive impact on market demand. Implementation of favorable government regulations such as the Hydropower Regulatory Efficiency Act and Small Conduit Hydropower Development and Rural Jobs in the U.S. and growing number of funding programs pertaining to the renewable energy sector in developed countries such as Italy and Canada are some of the factors which are expected to present future growth opportunities. 

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Further key findings from the report suggest:

• Industrial applications dominated demand in 2012, accounting for over 40% of the global installed capacity. The global industrial applications market is expected to reach 694.41 GW in installed capacity by 2020.

• Asia Pacific is expected to be the most dominant regional market by 2020, with China expected to lead hydropower consumption. China is also expected to be the fastest growing market, at an estimated CAGR of 6.2% from 2013 to 2020, to reach an installed capacity of over 400 GW in 2020. The presence of an extensive amount of hydropower projects currently under construction will drive this market.

• Some of the prominent hydropower projects in China include the Baihetan dam (expected to be completed in 2019), the Wudongde and Xiangjiaba dam (expected to be completed in 2015) and the Xiluodo project.

• Key players of this market include GE Energy, Andritz AG, China Hydroelectric Corporation, China Three Gorges Corporation, American Hydro Corporation, Alstom Hydro, The Tata Power Company, ABB Ltd and others.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

 For more information: http://www.grandviewresearch.com

Hydraulic Fracturing Market Is Expected To Reach USD 81.10 Billion By 2024: By Grand View Research, Inc.

The global hydraulic fracturing market is expected to reach USD 81.10 billion by 2024, according to a new report by Grand View Research, Inc. Growing E&P companies’ concern towards declining production rates in conventional hydrocarbon reserves along with shifting focus towards developing unconventional oil & gas blocks globally is anticipated to drive the market growth.

Favorable initiatives by the U.S. and Chinese government in the form of financial aids, tax incentives and easy provision of FDI in the hydrocarbon sector are estimated to steer the industry expansion over the next few years. Several bans, moratoriums and pubic concerns regarding environmental impacts of the technology particularly in counties including France, Tunisia, Bulgaria, Romania, and South Africa are expected to remain key challenges for the industry participants over the forecast period.

Plug & perf technology dominated the global hydraulic fracturing market accounting for over 80% of the total revenue in 2015. The technique enables multistage fracking in cased holes and is widely used in tight oil and shale completions particularly in the U.S.

U.S. hydraulic fracturing market revenue, by technology, 2014 - 2024 (USD Million)

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Further key findings from the report suggest:

• Proppants emerged as the largest fracturing materials with net revenue expected to exceed USD 14.0 billion by 2024. Ceramic proppants are anticipated to grow at an estimated CAGR of 7.6% from 2016 to 2024.
• Shale gas dominated the global demand and accounted for 30.2% of the total hydraulic fracturing revenue in 2015. The emergence of the shale boom in the U.S. along with increasing acreage of shale basins globally particularly in China and Canada is expected to drive market growth in the segment. The U.S. hydraulic fracturing demand in tight gas formations was valued at USD 6.01 billion in 2015 and is expected to grow at a CAGR of 8.7% from 2016 to 2024.
• North America hydrofracking industry dominated the global demand and is anticipated to remain the largest regional market over the forecast period. The regional market is anticipated to witness moderate growth over the next eight years to exceed a net worth of USD 65.0 billion by 2024.
• Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to large available technically recoverable unconventional oil & gas reserves and increasing FDI flow in the hydrocarbon sector in China, India, and Australia. The region accounted for 6.6% of the global revenue in 2015 and is expected to grow at a CAGR of 12.1% over the next eight years.
• The global hydraulic fracturing market was dominated by major oilfield services companies including Baker Hughes, Schlumberger, Halliburton, Weatherford, Calfrac Well Services, Cudd Energy and FTS International.

 About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

 For more information: http://www.grandviewresearch.com

Gas Turbine Market Is Projected To Reach $30.08 Billion By 2025: Grand View Research, Inc.

The global gas turbine market size is expected to reach USD 30.08 billion by 2025, according to a new report by Grand View Research, Inc. The increasing availability of natural gas for power generation, expanding oil & gas industry, awareness regarding flexible resources for energy production based on renewable energy sources are some of the key factors expected to play a significant role in propelling the global demand.

Even though the demand for natural gas as a fuel for new capacity additions is fast catching up, its limited availability is expected to pose a significant challenge. Geopolitical issues are another major factor, which is likely to affect the natural gas supply.

Turbines with capacity ≤200 MW are likely to maintain the highest market share due to rising demand for flexible power generating units and rapidly growing oil & gas industry. Easily available financing prospects for small power plants are another factor supporting the growth of low capacity turbines.

The market is consolidated with top five market players accounting for over 65% market share. Being a mature market, market participants focus on post-sales services to remain competitive. Mergers and acquisition is a key strategy implemented. One such example is the acquisition of Alstom’s power and grid business by GE.

U.S. gas turbine market revenue by application, 2014-2025 (USD Million)

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Further key findings from the report suggest:

• The global gas turbine market demand was over 60,000MW in 2015 and is expected to grow at an estimated CAGR of 4.3% from 2016 to 2025
• Power generation was the largest application segment in 2015 and is likely to continue the trend during the forecast period
• Due to Fukushima nuclear disaster, Japanese government is now focusing on R&D for combined cycle power plant
• Iraq government tied up with General Electric to set up 3,000MW gas power plant
• Asia Pacific is expected to grow at a CAGR of 5.4% in terms of revenue over the forecast period and is expected to be the fastest growing region
• Europe is expected to grow at an estimated CAGR of 4.9% in terms of revenue from 2016 to 2025
• Major players operating in the global gas turbine market include General Electric Company, Siemens AG, Kawasaki Heavy Industries, Ltd., Ansaldo Energia S.P.A., Bharat Heavy Electricals Limited, Opra Turbines B.V., Solar Turbines Incorporated, etc.

 For more information: http://www.grandviewresearch.com

Fuel Cell Market Is Predicted To Reach USD USD 24.81 Billion By 2025: By Grand View Research, Inc.

The global fuel cell market is expected to reach USD 24.81 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for unconventional energy sources is one of the key factors driving the global fuel cell market. Fuel cell is one of the fastest growing alternate backup power options primarily due to the utilization of hydrogen as fuel. In addition, they are eco-friendly as their by-product is harmless in nature, unlike other conventional technologies. 

On the basis of policy development, China is still lagging but shows tremendous promise in the near future as the majority of the Chinese fuel cell manufacturers have been focusing to develop proton exchange membrane fuel cells. This implies the focus of the country to incorporate fuel cells in various modes of transport. 

The market is expected to witness strategic alliances to expand the end user segment in emerging markets. Public – private partnerships will be critical in attaining an economically viable technological shift. Introducing cleaner technologies to substitute existing methodologies is expected to incur high costs which are expected to challenge the innovative streak of the key market players.

Global fuel cell market revenue by product, 2014 - 2025 (USD Million)

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Further key findings from the report suggest:

• Asia Pacific is expected to emerge as the largest market in terms of unit shipment. Rising demand of Combined Heat and Power systems in Japan and other countries in this region, the market for fuel cells is slated to register a robust growth rate. 
• North America is likely to emerge as the largest market for fuel cells in terms of installed capacity owing to the regulatory scenario in the region and advancements in technology.
• PEMFC is expected to emerge as the most dominant form of fuel cell owing to their ability to suit a wide variety of applications ranging from portable to large scale power systems.
• In 2014, Japan had introduced “Promotion Project for Hydrogen Society Using Renewable Energy”, an updated policy focused on fuel cell and hydrogen roadmap. This region is expected to grow at an estimated CAGR of 37.8% from 2016 to 2025.
• Transportation and Portable application segment are likely to reach a tipping point between niche and mainstream over the forecast period.
• Transportation application segment is expected to grow at an estimated CAGR of 39.2% from 2016 to 2025
• Some companies operating in the global market include Plug power, Ballard Power Systems, Hydrogenics Corporation, Ceramic Fuel Cells, Ltd., SFC Energy AG

 For more information: http://www.grandviewresearch.com

Small Wind Market Will Grow at a Steady Rate of 14.3% CAGR from 2014 to 2025: Grand View Research, Inc.

The global small wind market is expected to reach USD 1.79 billion by 2025, according to a new report by Grand View Research, Inc. Increasing awareness about renewable energy along with government regulations to control growing carbon footprint is further propelling the market growth.

Increasing global population coupled with rising energy deficit are some of the factors anticipated to positively influence the small wind market. In addition, the gradual reduction in per kilowatt prices along with affordable installation prices of wind turbines for electricity demand will favor the business growth.

Stringent government regulations are encouraging grid connectivity to reduce the burden on use of non-renewable sources for electricity generation. Numerous financial and economic benefits including Feed-in-Tariffs (FiT), Production Tax Credit (PTC), Investment Tax Credit (ITC) among others are expected to augment the small wind market growth over the forecast period.

U.S. small wind market revenue, by axis type, 2014 - 2025, (USD Million)

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The off-grid application segment of the small wind market is expected to account for 59.58% of the global market share in 2025. The demand for off-grid wind turbines can be attributed to the long standing conventional methods of harnessing this energy for electrification, however, this segment is set to witness a decline due to the government initiatives launched to boost grid connectivity. Such regulatory initiatives will boost the on-grid segment of the small wind market over the forecast period.

Horizontal axis wind turbines (HAWT) are the preferred axis type in the global small wind market given the ease in installation coupled with affordable pricing. However, the Vertical Axis Wind Turbine (VAWT) is fast gaining consumers’ attention and is expected to grow at a higher rate over the forecast period.

Europe was the leading region due to changing perceptions towards adoption of renewable energy. Large scale investments along with high consumer awareness is predicted to drive the small wind market by 2025. The abundant availability of onshore and offshore regions for wind turbine installation options is augmenting the growth of the regional market over the forecast period. 

Further key findings from the report suggest:

• The small wind market is anticipated to witness growth at over 14.3% from 2017 to 2025 on account of increasing awareness about towards emission free renewable energy. Vertical axis wind turbines will grow at the fastest rate in terms of revenue, registering a CAGR of 18.7%, during the forecast period owing to its innovative design and energy efficiency.
• Europe small wind market is predicted to witness substantial growth and was valued at USD 228.0 million in 2016 owing to rising demand control the region’s carbon footprint.
• Key participants of the small wind market include City Windmills, Envergate, Dibu Wind, Kingspan Wind, Superwind, Kliux Energies, and Bergey Windpower among others. These companies are focused on increasing their global presence using product modernization and design innovation strategies.

 For more information: http://www.grandviewresearch.com