Global onshore drill pipe market is anticipated to show growth rate of 3.2% during the forecast period 2019-2026. Drill pipes are thick walled and hollow piping that are utilized in oil exploration and drilling activities for transmitting the torque and drilling fluid through the wellbore. Increasing demand for natural gas in commercial and transportation sector, surging oil exploration activities across the globe and advancements in drilling technologies have helped to drive the growth across onshore drill pipe market.
The global natural gas vehicle market is expected to grow by 12% during 2016-2022. The major factor driving the market are increasing emphasis on reducing the fuel cost and benefit for the environment. Constantly shrinking reserves fossil fuels and conventional source of energy is also a major reason for the increasing demand of the natural gas vehicle. It is an alternative for diesel and gasoline using vehicles. Various governments are taking initiatives for fueling the demand of NGVs through spreading awareness.
Global low emission vehicle (LEV) market is forecasted to witness a significant growth from 2016 to 2022. Stringent environmental directions for rising pollutants in industrial and transport emissions are encouraging demand over the estimated time frame.
The global metalworking fluids market is expected to grow at a CAGR of 5.1% during the forecast period of 2016-2022 and generate a revenue of $14 billion by 2022.The metalworking fluids are a type of chemical formulations that are used for numerous functions in grinding and machining of metal parts. The main purpose to use these fluids is to reduce the heat and friction between the work piece and the cutting tool, there by protecting the machine from overheating and malfunctioning.
The global natural gas market has been predicted to grow at a CAGR of 3.8% during the forecasted period 2016-2022. These storage amenities are used as a hypothetical tool at the time of production and its supply in the market. The global energy security issue along with high demand of natural gas has been expected to be the major driver for the global natural gas storage market in the future.
The MENA point-of-use (POU) water purifiers market has beenexpected to grow at an impressive CAGRduring the forecasted period of 2016-2022.The factors driving the market areincreasing water pollution, more awareness about the benefits of water treatment, technological innovations and rising residential and non-residential construction activities.Growingdeath rate across the worlddue to the diseases caused by the consumption of contaminated water has been projected to drive the worldwide point-of-use (POU) water purifiers market.According to world health organization (WHO) health report,it has been stated that around 99% of the overall death caused due to water pollutants is in the developing economies also including MENA.
Metals that canoxidized, tarnish or corroded when exposed to air or moisture, are known as base metals. Base metals are extensively used in commercial and industrial applications. Widening application of base metal mining has been anticipated to witness substantial growth during the forecasted period owes to increase in the use of base metals in construction industry and its decreasing price.
Rapid industrialization and urbanization in emerging countries, huge government expenditure for power generation has been driving growth the global power boilers market. Various government are spending a huge amount for the development of power generation and installing new power plants and boilers due to increasing demand for electricity across the globe.
The global e-waste management market expected to expand at a CAGR of 6.1% during the forecast period from 2020 to 2028. Over the last decade, rapid technological advancements have not only transformed our communication abilities and increased rate of productivity but have also resulted in a massive increase in electronic goods cast-off into our waste stream. As per the research conducted by Acute Market Reports, electronic waste is the fastest-growing municipal waste, especially in developed economies like the U.S.
The global energy harvesting markethas beenprojected to grow at the CAGR of 19.6% during 2016-2022.Globally energy harvesting market has generated a revenue of more than $268.6 million in 2015 and now it has beenexpected to reach $974.4 million by 2022.The factors driving the market are increasing demand for safe and durable power source, wide implementation of IoT for building automation and increasing green environment initiatives by the governments.
The global advanced battery energy storage systems market has been expected to grow at a CAGR of 33.7% during the forecasted period of 2016-2022.Advanced battery energy storage systems help in energy management, improvement of grid efficiency, maintaining power quality and distribution reliability. Electrical energy storage is used mainly during the times when the supply is more than the demand i.e. during times when production mainly from renewable electricity sources such as solar, wind, thermal, tidal etc. exceeds the consumption.
The global gas to liquid market was valued $8.8 billion in 2015 and now it has been expected to grow at a CAGR of 6.9% during 2016-2022. The factors driving the gas to liquid market are rising awareness regarding clean fuel, need for alternative fuel due to depletion of fossil fuel and increase in transportation requirements. GTL process converts natural gas to liquid fuels such as jet fuel, diesel and gasoline.
The global fluid catalytic cracking market is poised to grow at a healthy CAGR of 3.6% during 2016-2022. Various reasons for growth of fluid catalytic cracking market are improving fuel standards, growing demand for “clean” fuel and increasing operational efficiency.
The global radioactive waste management marketis expected to grow at moderate rate during the forecasted period.Radioactive waste is described as contaminated material by radioactivity or it is radioactive by itself. Radioactive waste management techniques varies according to the type of waste to be processed. The level of hazards of radioactive waste diminishes with time as the substance lose its radioactivity depending upon its half-life. The main aim in managing and disposing radioactive wastes is to protect the environment and the people from its harmful effects.
The global markets and technologies for photovoltaic systems is expected to grow at the CAGRof 21.6% for the forecasted periodof 2015-2022 and also to generate a revenue of$513650million by 2022.The growth is attributed to the rising demand of solar systems due to increased government regulations, policies and renewable targets.PV systems converts sunlight into electricity.
The global Ozone generation market is expected to grow at the CAGR of 7.4% during 2015-2022. The major factors driving the market are high demand of the technology for various applications such as for waste water treatment, air & gas, industrial, drinking water and others. The other factors that are influencing the growth of ozone generation technologies in the market are rising global health concern owing to rapid urbanization and increasing benefits from ozone technology.
The global wind energy market is expected to grow at the CAGR of 7.5% during 2015-2022. The major factors driving the market are rising demand of energy across the globe. Conventional sources of energy such as coal, petroleum products are non-renewable in nature and are depleating. Also the rising pollution level has led to a shift towards eco-friendly ways of energy production.
The global electrical enclosures market is expected to grow at the CAGR of 6.9% during 2015-2022. Industrial automation is anticipated to grow at a faster pace, which is forecasted to fuel the electrical enclosure demand in the upcoming scenario. Government of U.S.A and U.K. has imposed various stringent regulations for the safety of end users which are fuelling the demand for electrical enclosures globally. Increasing investment in projects of renewable energy and growing demand from food and beverage industry is boosting the growth for the electrical enclosures market.
The global biorefinery Technology market is expected to grow at a CAGR of 13.1%. An increase in the demand of eco-friendly products is witnessed in recent times and this inclination towards the environment friendly product is acting as a major driver for the biorefinery Technology industry. Government of various regions are stressing on sustainable development and imposing stringent regulations against the over usage of fossil fuel and other non-renewable sources of energy.
Solid oxides fuel cell act as an alternative solution to the non-renewable energy sources. Fossil fuels are the biggest source of energy in present scenario but being a non-renewable source of energy their lies a threat of depletion of these resources and this in turn is acting a major driver for the solid oxide fuel cell market.
Energy and Utilities companies have undertaken innovative process and technological initiatives, especially in electricity and gas distribution and management of logistics. New entrants and disruptive technologies have changed the landscape of this market. Development and economic viability of clean and renewable energy is a key priority of companies and governments worldwide.
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