Untitled

[marketanalysisblog]

Rapid growth projected for global waste market in coming years

According to a new report, the global waste management market is expected to grow from $285 billion in 2016 to $435 billion by 2023.

The report, titled “Global Waste Management Market by Waste Type and Service: Global Opportunity Analysis and Industry Forecast, 2017-2023,” notes that a rise in environmental concerns along with inevitable increases in non-hazardous waste from rapid economic growth (primarily across developing nations) will drive the demand for waste management services. 

The other key factors that portend to boost the expansion of the waste management market include the continued adoption of recycling techniques and development of innovative technologies and advanced waste collection solutions. Additionally, the global waste management market is expected to be bolstered by government initiatives geared toward building a more secure and safe environment and reducing greenhouse gas emissions. 

[marketanalysisblog]

Rise in residential & non-residential construction, growing awareness regarding safety from fires, and rapid urbanization & industrialization have boosted the growth of the global fire protection system market. The market across Asia-Pacific is projected to manifest the highest CAGR of 8.0% during the forecast period.

The global fire protection systems market is segmented on the basis of product type, type, end user, and geography. Based on product type, the market across fire detection, fire response, fire suppression, and fire analysis. The commercial segment is estimated to register the highest CAGR of 6.0% during the forecast period. Moreover, the segment held the largest share in 2019, contributing to more than two-fifths of the market.

As per the report published by Allied Market Research, the global fire protection systems market pegged at $96.50 billion in 2019, and is projected to hit $131.27 billion by 2027, growing at a CAGR of 5.2% from 2020 to 2027.

[marketanalysisblog]

Industrial applications are reaping the advantages of the energy system in different aspects as the consumption of energy has skyrocketed. On the other hand, the rising implementation of renewable energy is increasing the need for energy storage, thereby driving demand growth.

These systems, furthermore, are witnessing continuous technological modifications to overcome the conventional barriers of continuous supply of energy. The market, on the other hand, is getting remodeled with a continuous promotion of renewable energy storage systems.

Energy storage can offer significant cost savings in cases where it is necessary for the associations to pay demand charges based on their highest electricity usage.

[marketanalysisblog]

The easy accessibility and mobility of mobile cranes and the increasing focus on public-private partnerships (PPPs) for infrastructure development are driving the growth of the global mobile crane market. On the other hand, its weight restrictions hold back market growth to some extent. Still, mobile crane automation is expected to offer several possibilities in the near future.

According to the report released by Allied Market Research, the global Mobile crane market was set at $ 14.06 billion in 2019 and is projected to reach $ 17.95 billion by 2027, representing a CAGR of 6.0% from 2020 to 2027. The report provides detailed analysis of the top investment pockets, top winning strategies, drivers and opportunities, along with market size & estimates, competitive landscape, and changing market trends.

[marketanalysisblog]

Recycling plants are catching on fire, and lithium-ion batteries are to blame

Lithium-ion batteries are a nightmare for recycling plants.

Adcox’s smartphone, like virtually all smartphones, is powered by a rechargeable lithium-ion battery. These batteries are small and lightweight and store lots of power. They’re also everywhere. In 2017, the global lithium-ion battery market was valued at more than $30 billion; by 2025, it is projected to grow to more than $100 billion. Standing in that recycling plant, Adcox had at least two rechargeable batteries on her person: in her phone and smartwatch.

“I personally am a big fan of the technology. I think lithium-ion is transformational,” says Ronald Butler, a battery safety expert. But these batteries also have to be handled properly, he says. If they get damaged, overheat, or short-circuit, a rechargeable battery will have what’s called a thermal runaway event, producing heat internally and getting hotter and hotter until it begins to smoke and then burn

[marketanalysisblog]

Fast growth in the renewable energy sector and easy installation of the inverters drive the growth of the global string inverter market. However, high amount of heat loss and deficiency of panel level monitoring hinder the market growth. On the other hand, government initiatives & investment on electrification of remote and rural area using solar energy would offer a number of opportunities in the coming years.

Allied Market Research published a report, titled, “String Inverter Market by Connection Type (On-Grid and Off-Grid), Phase (Single Phase and Three Phase), and End-Use Industry (Residential, Commercial & Industrial, and Utilities): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global string inverter market garnered $3.1 billion in 2019, and is estimated to reach $4.6 billion by 2027, registering a CAGR of 6.3% from 2020 to 2027.

The on-grid segment to maintain its lead status-

Based on connection type, the on-grid segment accounted for around three-fifths of the global string inverter market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. Moreover, the same segment is estimated to portray the highest CAGR of 6.4% from 2020 to 2027. This is due to rise in investment for direct supply of electricity rather than storing it in batteries.

The three phase segment to maintain its leadership position-

Based on phase, the three phase segment contributed to the highest market share with more than three-fourths of the global string inverter market in 2019, and is estimated to maintain its leadership position during the forecast period. Moreover, the same segment is estimated to generate the fastest CAGR of 6.4% from 2020 to 2027. This is attributed to the increase in importance and rise in demand from power generation, distribution and transmission sector.

[marketanalysisblog]

High efficiency rise in construction activities, and increase in urbanization & industrialization in developing nations drive the growth of the global modular construction market. However, lack of reliability in earthquake-prone areas and scarcity of skilled labor in developing countries hinder the market growth.

The permanent segment to maintain its leadership status during the forecast period

Based on type, the permanent segment contributed to nearly two-thirds of the total share of the global modular construction market in 2018 and is estimated to maintain its leadership status during the forecast period. This is attributed to rise in customized and DIY construction activities. However, the re-locatable segment is expected to register the largest CAGR of 7.8% from 2019 to 2026. This is due to temporary shelters provided to people affected by natural disasters including earthquake, hurricane, and flood.

Asia-Pacific to provide lucrative opportunities, North America to follow

Based on region, Asia-Pacific contributed to the highest market share in 2018, accounting for nearly half of the global modular construction market and is estimated to continue its lion's share during the forecast period. Moreover, the region is estimated to portray the highest CAGR of 7.9% from 2019 to 2026.

[marketanalysisblog]

- Growing construction market in developing countries and no high ownership cost & financial constraints have boosted the growth of the global construction equipment rental market

Reduction of expenses including maintenance cost, operational costs, and labor cost, growing construction market in developing countries, and no high ownership cost & financial constraints have boosted the growth of the global construction equipment rental market. However, lack of skilled and qualified operators and decrease in new construction activities in developed nations hamper the market.

According to the report, the global construction equipment rental industry was pegged at $90.99 billion in 2019, and is expected to reach $106.42 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027.

[marketanalysisblog]

The State of the Lithium-Ion Battery Market During COVID-19 - News

The uses of lithium-ion batteries are becoming very apparent during the COVID-19 pandemic.

Lithium batteries and lithium-ion batteries are often the basis of power for many electronic medical devices, including surgical tools, hearing aids, defibrillators, monitors, meters, and ventilators. Lithium-ion batteries can often last longer and recharge faster, saving time and money while reducing risk throughout the lifecycle of uninterruptible power systems.

In 2019 before the coronavirus crisis, the global lithium-ion market was worth around $36 billion, and the year ended in positive expectations for the next several years. Allied Market Research projected the market would be valued at $129.3 billion by 2027, a Compound Annual Growth Rate of 18%.

After a strict COVID-19 lockdown imposed in mainland China in January, factory closures significantly impacted the country’s overall production volume in the first quarter. Even though China’s factories opened back up in March, companies are operating at less than 40% capacity due to parts shortages. 

[marketanalysisblog]

Technological advancements in heat exchangers and surge in demand from various end-user industries fuel the growth of the global heat exchangers mark

The heat exchangers market is driven by numerous factors such as high demand from emerging economies, an increase in energy prices, technological advancements in heat exchangers, and others. There is a significant rise in demand from developing economies such as India, China, and Indonesia, owing to the rapid industrialization.

The report also provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Based on geography, Europe generated a major share in 2018, accounting for nearly one-third of the total market. This is due to high demand from the automotive industries, food & beverage industry, and the petrochemical industry.

[marketanalysisblog]

Rapid growth in the renewable energy sector and easy installation of the inverters drive the global string inverter market

Based on region, Asia-Pacific accounted for the highest share based on revenue, holding for more than half of the global string inverter market in 2019, and is projected to maintain its dominant position throughout the forecast period. Moreover, the same region is estimated to generate the fastest CAGR of 6.5% from 2020 to 2027.

The string inverter market is anticipated to witness considerable growth during the forecast period, owing to factors such as rapid development in the renewable energy sector and easy installation of string inverters.

Based on the connection type, the on-grid segment accounted for around three-fifths of the global string inverter market in 2019 and is expected to maintain its lead status in terms of revenue throughout the forecast period. 

[marketanalysisblog]

Rapid growth in the renewable energy sector and easy installation of the inverters drive the global string inverter market

The string inverter market is anticipated to witness considerable growth during the forecast period, owing to factors such as rapid development in the renewable energy sector and easy installation of string inverters. However, high heat loss in the large-sized string inverter and absence of panel-level monitoring are the key factors restraining the growth of the market in the upcoming years.

Based on the connection type, the on-grid segment accounted for around three-fifths of the global string inverter market in 2019 and is expected to maintain its lead status in terms of revenue throughout the forecast period. Moreover, the same segment is estimated to portray the highest CAGR of 6.4% from 2020 to 2027.

According to the report, the global string inverter market garnered $3.1 billion in 2019 and is estimated to reach $4.6 billion by 2027, registering a CAGR of 6.3% from 2020 to 2027.

[marketanalysisblog]

A massive shift from the traditional motor to full electric alternatives has pushed demand for electric motors to an all-time high.

A recent report published by Allied Market Research focuses on the current trends, growth opportunities, and major challenges in the electric motors market. Further, it offers insights related to the industry, such as market share, size and growth. The report reveals that leading players in the field are shifting their attention to manufacturing energy-efficient electric motors.

A recent study from Allied Market Research depicts how electric motors will dominate the future market. The potential ranges in markets from industrial equipment like lathes and HVAC applications to even consumer goods like electric cars.

[marketanalysisblog]

Precast construction includes buildings where the majority of the structural components are standardized and manufactured in plants in a location away from the building, and then transported to the site for assembly.

The global precast construction market size was estimated to be $120,222 million in 2015 and is expected to reach $185,232 million by 2022 growing at a CAGR of 6.3%, according to a new report published by Allied Market Research. Non-residential segment is estimated to be the most dominant end user sector in the precast construction market from 2015 to 2022; while Asia-Pacific dominated the market with 46.6% of the global precast construction market share in 2015.

The modular construction market is expected to increase mainly because of over-riding client requirements for speed of construction, improved quality, and for early return of investment. The precast modular construction market was estimated to be $99,236 million in 2015. 

[marketanalysisblog]

The lithium-ion battery market growth is driven by surgein need for smartphones and other electronics devices and increase in electric vehicles

According to Power Tech Systems, the cost of lithium-ion batteries is 805.3 USD/KWh, whereas the cost of a lead-acid battery is 172.6 USD/KWh. This comparison implies that the cost of lithium-ion batteries is high as a compared lead-acid battery. From the past five years, the prices of lithium-ion batteries have declined to about 15% per year, due to an increase in production volume. The global lithium-ion battery market is segmented by the end-use industry into electrical & electronics, automotive, and industrial, with others which include medical, military, and textile industries.

[marketanalysisblog]

Easy accessibility and mobility offered by mobile cranes and rise in focus toward public-private partnerships (PPPs) for infrastructure development drive the growth of the global mobile crane market. By boom type, the telescopic boom segment held the major share in 2019.

global mobile crane market is analyzed across boom type, carrier type, terrain type, end-user industry, business type, and region. Based on boom type, the telescopic boom segment accounted for more than two-thirds of the total market revenue in 2019 and is projected to lead the trail by 2027. The lattice boom segment, on the other hand, would manifest the fastest CAGR of 6.8% during the study period.

Based on carrier type, the wheel mounted segment contributed to 92% of the total market share in 2019 and is expected to rule the roost by 2027. At the same time, the track mounted segment would project the fastest CAGR of 7.5% from 2020 to 2027.

[marketanalysisblog]

How Does COVID-19 Impact the Battery Industry?

Already under siege from the US-China trade dispute, the global lithium-ion battery market must also deal with impacts from the coronavirus.

Globally, the lithium-ion battery market was valued $36.7 billion in 2019, and is projected to hit $129.3 billion by 2027, according to Allied Market Research. But the coronavirus pandemic will affect that forecast with major disruptions to sales as well as the supply chain. China figures predominantly in the lithium battery supply chain.