Middle East Switchgears Market To Reach $4.64 Billion By 2020: Grand View Research, Inc.

The Middle East switchgearsmarket is expected to reach USD 4.64 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for electricity in the region is expected to favor market growth over the forecast period. Switchgears are used in electrical systems to minimize failure and effects of fault currents.

Middle East switchgears market by product, 2012 - 2020

Gas insulated switchgears are gaining momentum over air insulated switchgears owing to their economic benefits and efficiency. Technological advancements to minimize environmental impact and device miniaturization may also drive the Middle East switchgears market. Need for ensuring safety and rapid economic development is expected to favor market growth over the forecast period. However, significant price cuts owing to intense competition are expected to pose a challenge to the Middle East switchgears market.

Browse full research report on Switchgears Market: www.grandviewresearch.com/industry-analysis/middle-east-switchgears-market                                                                                                                                   

Further Key findings from the study suggest:

• Medium and high voltage switchgears are expected to grow at a considerable rate over the next six years and are increasingly used in utilities and industrial applications. Low voltage switchgears are primarily used in residential applications and power distribution systems. High voltage switchgears are expected to be the key product segment over the next six years.
• Utilities accounted for over 40% of the Middle East switchgears market in 2013, and are expected to grow at a considerable rate over the forecast period. Growing need for reliable power supply to support economic growth is the primary driver for the utilities market. Increasing concerns to avoid water wastages in the region is positively contributing to market growth. The oil and gas industry is expected to primarily contribute to industrial application growth.
• Saudi Arabia is estimated to be the largest region and accounted for over 40% of the overall Middle East switchgears market in 2013. Economic growth in Saudi Arabia across various sectors such as power, infrastructure, petrochemicals and water & waste water is favoring the Middle East switchgears market. UAE and Qatar are expected to grow at a considerable rate over the forecast period. Rapid infrastructure developments in these countries are expected to contribute to market growth.
• Key market participants include ABB Ltd, Bharat Heavy Electricals Limited (BHEL), Alstom, Crompton Greaves, Siemens AG, General Electric, Schneider Electric etc. Cost effective products and after sales services are expected to be a critical success factor for industry participants. ABB Ltd. serves various industries including mining, oil & gas, nuclear power, wind power, marine etc., and is a major player in the Middle East switchgear markets. Siemens AG offers switchgears for industrial, utility and residential sectors. In April 2013, Siemens signed a contract with Qatar Petrochemical Company (QAPCO) to supply new switchgear at its facility in Mesaieed.

Browse more reports of this category by Grand View Research: www.grandviewresearch.com/industry/construction-and-utilities 

                                                                                                                         

Grand View Research has segmented the Middle East switchgears market on the basis of product, application and region:

Middle East Switchgear Product Outlook (Revenue, USD Million, 2012 - 2020)

• Low Voltage
• Medium Voltage
• High Voltage

Middle East Switchgears Application Outlook (Revenue, USD Million, 2012 - 2020)

• Industrial
• Residential
• Utilities
• Others

Middle East Switchgears Regional Outlook (Revenue, USD Million, 2012 - 2020)

• Saudi Arabia
• Qatar
• UAE
• Kuwait
• Egypt

Access Press Release By Grand View Research: www.grandviewresearch.com/press-release/middle-east-switchgears-industry 

                                                                                     

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: www.grandviewresearch.com

Wave And Tidal Energy Market Is Anticipated To Reach $3.9 Billion By 2025: Grand View Research, Inc.

The global wave and tidal energy market size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 42.5% CAGR during the forecast period. Need to reduce dependency on fossil fuels, increasing investments, and supportive government regulations are likely to fuel market growth over the coming years.

The renewable energy sector has witnessed significant expansion in terms of installations worldwide in 2016. The capacities in wind, marine, solar, waste-to-energy, small geothermal and hydro sources, and biomass combined added up to 138.5 GW in 2016, up from 127.5 GW in 2015. Investments in electricity generation through novel renewable sources was twice in comparison to fossil fuels.

Ocean energy is witnessing significant development in terms of new projects in various economies including U.K., Ireland, Sweden, Portugal, Thailand, India, Japan, China, Canada, and U.S., which is likely to fuel market growth over the coming years. However, high cost and socio-economic and environmental barriers are likely to restrain the development of the market over the forecast period.

Browse full research report on Wave And Tidal Energy Market: www.grandviewresearch.com/industry-analysis/wave-energy-market                                                                                                                                 

Further Key findings from the study suggest:

• The wave energy segment is likely to register significant growth in the coming years on account of extensive R&D and new project developments in numerous economies including Ireland, Sweden, Portugal, U.S., China, and New Zealand
• The tidal segment dominated the market on account of high technological know-how. However, environmental concerns related to the technology are likely to restrain its growth
• Asia Pacific is expected to be a lucrative market for the technology on account of supportive government initiatives
• The number of companies in the global wave and tidal energy market has registered an increase in recent years. These companies are constantly making significant efforts to advance their technologies and deploy novel and improved equipment

• R&D, new project developments, partnerships, and acquisitions are some of the major strategies being adopted by companies in the industry. In November 2016, BPS developed an ocean wave forecasting system for efficient operation of wave energy projects. This technology can also be used for fishing, aquaculture, diving, and oil and gas operations.

Browse more reports of this category by Grand View Research: www.grandviewresearch.com/industry/renewable-energy                                                                                                                        

Grand View Research has segmented the global wave and tidal energy market on the basis of energy type and region:

Wave and Tidal Energy Type Outlook (Installed Capacity, Megawatt; Revenue, USD Million, 2014 - 2025)

• Wave
• Tidal

Wave and Tidal Energy Regional Outlook (Installed Capacity, Megawatt; Revenue, USD Million, 2014 - 2025)

• North America
• Canada
• Europe
• U.K.
• France
• Asia Pacific
• China
• South Korea

Access Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-wave-tidal-energy-market 

                                                                                  

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: www.grandviewresearch.com

Enhanced Oil Recovery (EOR) Market Is Witnessing Significant Growth Due To Increasing Number Of Matured Wells Till 2025

The global enhanced oil recovery (EOR) market is expected to reach USD 89.22 billion by 2025, according to a new report by Grand View Research, Inc. Increasing number of aged wells coupled with the rising oil demand globally are the key factors for market growth.

The rising oil demand and declining oil production rates in existing wells is resulting in the development of advanced technologies to extract hydrocarbons from the reservoirs. EOR is one such technology that has gained significance in the industry over the last few decades. The increasing number of mature wells and huge investment in R&D activities for new technology development by various market players to improve the petroleum liquids recovery process are expected to result in remarkable growth of the industry. 

EOR techniques are deployed when primary and secondary recovery techniques become ineffective. The implementation of the tertiary extraction technology results in the alteration of the properties of oil as well as the formation rock and the flow patterns in the reservoir.

Future implementation of several proposed projects, especially, in the offshore basins are mostly on hold. The primary factors for the same are the high capital investment required for the implementation of EOR in offshore platforms as well as the risks faced in equipping the platforms with the technological capabilities. Many companies operating in the offshore space, such as BP, Repsol, and Statoil, have designed custom platforms for the implementation of EOR technology for improved recovery.

The tertiary extraction comprises various technologies such as thermal recovery, chemical flooding, and gas recovery. In terms of volume of petroleum fluids recovered, thermal EOR held the largest market share of over 39% in 2016. The technology uses heat/fire and steam flooding. Gas injection technique is projected to witness the fastest growth rates in terms of technology implementation and upcoming projects over the next seven years.

Browse full research report on Enhanced Oil Recovery (EOR) Market: www.grandviewresearch.com/industry-analysis/enhanced-oil-recovery-eor-market                                                                                                                            

Further Key Findings From the Study Suggest:

• The global crude oil produced from EOR technique is anticipated to reach 1.37 billion barrels by 2025, at a CAGR of 4.5% from 2017 to 2025
• In terms of revenue, gas injection technology segment is projected to ascend at a CAGR of 7.5% over the forecast period
• Onshore application dominated the global EOR market with a global market share of over 90% in 2016
• The U.S. enhanced oil recovery market (in terms of volume of oil produced) is anticipated to exceed 350 million barrels by 2025
• Europe is projected to witness a remarkable growth rate of 4.7% over the next eight years, owing to the presence of large amounts of technically recoverable unconventional petroleum reserves particularly in Russia and UK
• Asian countries especially India and China are expected to observe a remarkable growth in next five years
• The market is partially consolidated and competitive in nature, with presence of global multinational players
• Some of the key companies present in the market are Royal Dutch Shell plc, Lukoil Oil Company, Chevron Phillips Chemical Company LP., ExxonMobil Corporation, Petroleo Brasileiro S.A., China Petroleum & Chemical Corporation, Cenovus Energy Inc., BP p.l.c. and Praxair Technology, Inc.

Browse more reports of this category by Grand View Research: www.grandviewresearch.com/industry/conventional-energy                                                                                                                    

Grand View Research has segmented the global enhanced oil recovery market report on the basis of technology, application, and region:

EOR Technology Outlook (Volume, Million Barrels; Revenue, USD Million; 2014 - 2025)

• Thermal
• Gas Injection
• Chemical
• Other EOR

EOR Application Outlook (Volume, Million Barrels; Revenue, USD Million; 2014 - 2025)

• Onshore
• Offshore

EOR Regional Outlook (Volume, Million Barrels; Revenue, USD Million; 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• Norway
• UK
• Asia Pacific
• China
• India
• Middle East & Africa
• Latin America
• Mexico

Access Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-enhanced-oil-recovery-eor-market                                                                                 

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: www.grandviewresearch.com