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Tuesday, 31 March 2020

Industrial Protective Clothing Market Size to surge at 13.7% CAGR is expected to reach $22.57 Billion in 2025 | Market Research Report

The global industrial protective clothing market size is expected to reach USD 22.57 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 13.7% during the forecast period. Increasing awareness pertaining to health and safety of workers across various industries, including chemical, construction, and manufacturing is likely to drive the growth.

Favorable regulatory scenario to minimize occupational hazards at the workplace is expected to be the key factor positively influencing the market growth. Furthermore, rapid industrialization and urbanization in developing economies, which demands higher workforce, is expected to fuel the demand for industrial protective clothing over the projected period.

Rising health concerns owing to exposure to harmful emissions and smoke coupled with increasing mishaps, particularly in oil and gas and mining industry are likely to support the product demand. Increasing number blue-collar workforce in construction and manufacturing industries is further projected to propel the demand for protective clothes over the forecast period.

The market players engage in continuous R&D to produce multi-functional protective clothing, with high durability to cater to the growing demand. Furthermore, the companies emphasize on manufacturing clothing which can comply with the guidelines given by the Occupational Safety and Health Administration (OSHA), in order to sustain in the market.
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Further key findings from the report suggest:
  • Demand for durable protective clothing is expected to reach USD 11.50 billion by 2025, on account of the re-usability and superior heat and chemical resistance properties of the product
  • Chemical defending garments is expected to expand at a CAGR of 13.9% over the forecast period owing to rising concerns regarding workforce health safety against harmful and hazardous substances and radiations in chemical and nuclear industries
  • Demand for disposable chemical defending garments is expected to witness significant growth on account of their rising demand in chemical laboratories and R&D centers
  • North America accounted for 41.4% of the global market share in 2018, as the industries in the region need to comply with the stringent regulations and guidelines given by the authorities such as OSHA, NFPA, and ASTM
  • Growing application industries such as construction, mining, chemical, and food in Asia Pacific is expected to drive the industrial protective clothing market over the forecast period
  • In 2018, Germany accounted for the highest market share in Europe, on account of well-established manufacturing facilities for automotive, chemical, and power generation sector
  • Technological advancements to introduce multilayers and coatings with attractive designs is likely to be the key factor defining success for the market players
Grand View Research has segmented the global industrial protective clothing market on the basis of product, application, and region:
Industrial Protective Clothing Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014–2025)
  • Durable
  • Disposable
Industrial Protective Clothing Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014–2025)
  • Flame Retardant Apparel
  • Chemical Defending Garments
  • Radiation Protection
  • Particulate Matter
  • Clean Room Clothing
  • Mechanical Protective Clothing
  • Limited General-Use Clothing
  • Others

Nonwoven Disposable Gloves Market Size to surge at 4.7% CAGR is expected to reach $975 Million in 2025 | Market Research Report

The global nonwoven disposable gloves market size is expected to reach USD 975 million by 2025, accelerating at a CAGR of 4.7% over the forecast period, as per a new report by Grand View Research Inc. Increasing medical spending in developing economies such as India with high demand for advanced healthcare services is anticipated to drive the expenditure in the healthcare industry. Rising awareness among consumers regarding hospital-acquired infections has resulted in a growing demand for nonwoven disposables.

The Healthcare industry in Germany, the U.K., and Sweden is expected to register a rise in healthcare expenditure, thereby leading to growth in the production as well as in the consumption of medical devices and medical products. Europe is a major importer of medical products and manufactures premium quality, environment-friendly, and efficient nonwoven disposable products owing to its high demand in the region. In addition, increasing demand for advanced medical services and related products is expected to drive the demand for nonwoven gloves in Europe.

Companies are focusing on the use of advanced technologies as well as advancements in existing technologies to manufacture optimum quality gloves for use in medical applications. Furthermore, the use of automation to manufacturing standardized products of high quality is a major focus area of the companies to gain a competitive edge over other players. Asian manufacturers lead the overall market as they can offer premium quality products at lower prices. Manufacturers in North American and European regions are focusing on widening their product portfolios to sustain fierce competition in the market and strengthen their position.
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Further key findings from the report suggest:
  • Wetlaid technology segment is expected to witness the fastest growth rate of 4.9% over the forecast period in comparison to other technologies on account of its properties such as anti-bacterial, liquid repellent, and breathable & soft fabric
  • Non-soaped segment is expected to account for a major share of the market as compared to pre-soaped gloves segment owing to its rising use in healthcare facilities, where the risk of Hospital Acquired Infections (HAIs) is high
  • Asia Pacific for nonwoven disposable gloves market is expected to witness the fastest growth rate of 5.7% owing to the rising healthcare expenditure, increasing demand for advanced healthcare services, and increasing consumer awareness regarding HAI
  • Mexico is expected to emerge as a major growth driver triggering the demand for nonwoven disposable gloves in North America owing to government initiatives, such as the National Infrastructure Plan, which is expected to improve healthcare services in the country
  • Manufacturers are coming up with innovative strategies to lure new customers and distribute nonwoven disposable gloves directly to hospitals, commercial institutions, and consumers to avoid additional costs.
Grand View Research has segmented the global nonwoven disposable gloves market on the basis of technology, product, and region:
Technology Outlook (Revenue, USD Million, 2014–2025)
  • Spunlace/Spunbond
  • Wetlaid
  • Airlaid
  • Needle Punched
  • Others
Product Outlook (Revenue, USD Million, 2014–2025)
  • Pre-soaped
  • Non-soaped

Disposable Gloves Market Size to surge at 7.8% CAGR is expected to reach $14.93 Billion in 2025 | Market Research Report

The global disposable gloves market size is expected to reach USD 14.93 billion by 2025 at a 7.8% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The industry is anticipated to witness substantial growth over the forecast period owing to increasing demand in hospital and surgical applications.

Growing demand for the product in several industries including automotive, food and beverages, pharmaceuticals, chemical and petrochemical, oil and gas, mining, industrial R&D, academic R&D, and cleanrooms is expected to promote market growth over the forecast period. Stringent regulations regarding safety of workers will also benefit the market.

Rising importance of raw materials offering lightweight properties, comfort, higher heat resistance, and elasticity has been a major incentive for companies to conduct extensive R&D. These initiatives are primarily aimed at achieving multi-functionality of the product and widen its application scope by including innovative add-ons to existing designs.
Technological advancements and increasing concerns pertaining to employee health and safety are estimated to provide lucrative opportunities to market participants over the coming years. Product innovation and usage of sustainable raw materials for glove manufacturing are further estimated to positively impact the market over the next few years.
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Further key findings from the report suggest:
  • Natural rubber appeared as the largest raw material segment in 2017, accounting for 36.3% of the revenue. This is owing to superior properties and improved protection offered by the material in food processing and automotive industries
  • By product, the powdered disposable gloves segment is expected to register a CAGR of 4.4% and is likely to witness sluggish growth over the forecast period owing to the ban implemented by FDA on powdered disposable gloves in January 2017
  • Increasing use of disposable gloves in dental and veterinary fields for examination and surgeries is expected to drive demand for medical and healthcare applications. The segment accounted for a 70.1% of the revenue in 2017
  • Asia Pacific is anticipated to exhibit a CAGR of 8.6% over the forecast period. Increasing product demand is attributable to growing utilization of disposable gloves in the hospitals and food and beverages sectors
  • Major players have adopted sustainable solutions keeping in mind long-term benefits and procurement of high-quality raw materials. These materials are examined according to required standards for maintaining product quality.

Respiratory Protective Equipment Market Size to surge at 7.0% CAGR is expected to reach $9.96 Billion in 2025 | Market Research Report

The global respiratory protective equipment market size is expected to reach USD 9.96 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 7.0% during the forecast period. Rising occupational safety regulations for ensuring worker safety is expected to boost product demand.

Increasing demand for multi-purpose RPE such as respirators with in-built gas detectors is expected to drive R&D in developing efficient and durable respirators for preventing the spreading of biological hazards. Rising proactive measures taken by several associations such as ANSI, ASTM, and ISO is anticipated to have a positive impact on market growth.

Rising concerns regarding biological diseases coupled with exposure to toxic and radioactive air pollutants is anticipated to augment the product demand over the forecast period. In addition, an increasing number of illness cases in mining and chemical industries owing to the prolonged exposure to polluted air is likely to drive the growth of the RPE market.

Surging demand for multi-utility RPE coupled with technological advancements is expected to offer ample opportunities for market expansion over the forecast period. Major players such as 3M and Honeywell International are focused on developing RPE at economies of scale to strengthen their market share.
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Further key findings from the report suggest:
  • Powered air-purifying respirator accounted for 48.0% of the APR revenue share in 2018 on account of its rising demand for employee protection against vapors and toxic gases in oil and gas, petrochemical, and mining industries
  • Industrial application segment is expected to register a CAGR of 7.3% from 2019 to 2025 in terms of revenue owing to increasing automotive and metal fabrication industries in the emerging economies such as India, China, and Brazil
  • Demand from oil and gas industry is expected to reach USD 1.75 billion by 2025 on account of the presence of a considerable number of respiratory hazards such as exposure to silica and hydrogen sulfide coupled with rising awareness regarding employee safety
  • Product consumption in North America is anticipated to reach USD 3.88 billion by 2025 owing to the presence of stringent norms regarding occupational health and safety by regulatory bodies such as OSHA, CSA, and ANSI
  • Major players in the Respiratory Protective Equipment (RPE) market focus on integration across the value chain, especially from component manufacturing to product distribution, which is expected to aid the companies to obtain a competitive edge

Personal Protective Equipment Market Size to surge at 6.6% CAGR is expected to reach $84.7 Billion in 2027 | Market Research Report

The global personal protective equipment market size is expected to reach USD 84.7 billion by 2027, according to a new report by Grand View Research, Inc., registering a 6.6% CAGR over the forecast period. An increasing need for respiratory equipment in mining, emergency response, military and law enforcement, healthcare, and fire services, coupled with rising instances of injuries at the workplace, is anticipated to propel the market over the coming years.

Occupational safety regulations play a major role in driving the market for personal protective equipment. Mandated policies for companies to maintain worker safety in industries is anticipated to drive demand for PPE. These regulations mention the type of personal protective equipment required for protection during different industrial or commercial processes.

Increasing blue-collar workforce in line with growing number of construction and manufacturing projects is expected to inevitably raise the risk of occupational hazards. This has compelled companies to increase the level of awareness pertaining to health hazards and adhere to occupational health and safety regulations. This is projected to spur the demand for personal protective equipment over the forecast period.
Governments of various countries such as India and China have mandated the use of protective footwear in order to ensure the safety of employees. Rising demand for protective footwear in various end-use industries like construction, mining, oil and gas, food, and pharmaceuticals is anticipated to have a positive impact on PPE market demand through 2027.
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Further key findings from the report suggest:
  • The fall protection equipment segment is expected to register a CAGR of 7.0% from 2020 to 2027 on account of rising number of accidents caused in manufacturing and construction industries
  • Protective clothing accounted for 22.1% of the global revenue in 2019 owing to shifting customer preference toward efficient and comfortable clothing in core industries such as oil and gas, construction, and mining
  • Respiratory protection equipment includes air-purifying and supplied air respirators and the segment accounted for 13.5% of the revenue in 2019. This is attributed to rising demand for unpowered respirators particularly in mining, petrochemical, and oil and gas sectors
  • PPE in the construction industry accounted for 16.7% of the global revenue in 2019 owing to growing construction activities and infrastructural developments in Asia Pacific and Central and South America
  • North America accounted for 29.3% of the global PPE market in 2019 owing to stringent regulatory scenario, growing employee awareness regarding personal safety, and increasing number of large-scale infrastructure investment projects in U.S.
  • Key players in personal protective equipment market are partnering with other companies in order to gain a competitive advantage in terms of manufacturing active insulation solutions. It also enables them to use advanced technologies in the field.

Aerospace Parts Manufacturing Market Size to surge at 4.1% CAGR is expected to reach $1.25 Trillion in 2027 | Market Research Report

The global aerospace parts manufacturing market size is expected to reach USD 1.25 trillion by 2027, exhibiting a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing passenger and freight traffic in emerging economies is driving the demand for next-generation aircraft, which in turn is expected to boost the market growth.
A majority of the aircraft manufacturing companies are integrated across the value chain and are highly active in the parts manufacturing process. These companies have in-house production facilities as well as supplier contracts for the procurement of these parts. The manufacturers are also involved in raw material procurement and designing and quality control of the parts offered by third party suppliers.

The market for aerospace part manufacturing is primarily concentrated in North America and Europe, owing to the presence of major aircraft manufacturers. China and India are expected to emerge as the leading markets in the forthcoming years, owing to the rapid growth of aircraft part manufacturing and export activities. The global trade in components and sub-assemblies has increased by approximately 25% during the past decade. However, the sector still remains consolidated with the top 3 countries including U.S., Germany, and France, accounting for over 60% of the total aircraft manufacturing.

The market has observed a trend of a collaboration of the major companies entering into a joint venture. This helps the companies to sustain in the highly competitive market in terms of geographical expansion, technological advancements, and lowering the risk of failure. This also aids the companies to easily access the market for gaining long term contracts.
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Further key findings from the report suggest:
  • In 2019, aerostructure dominated the product segment, with 52.2% of revenue share on account of strong replacement rate of aluminum with high-cost composites in fuselage and airframe structures
  • Commercial aircraft segment is estimated to expand at the fastest CAGR of 4.6% over the forecast period, as significant changes are being incorporated in the aircraft structure to reduce the carbon emissions by replacing existing parts with lightweight materials
  • The market in Asia Pacific was valued at USD 149.6 billion in 2019 and is expected to expand at the highest CAGR owing to the rapid growth of aviation industry, augmenting the growth of MRO services thereby impacting aerospace parts manufacturing industry on a positive note
  • The aerospace parts manufacturing market has stringent manufacturing norms, safety regulations, and certifications, which restricts the entry of new entrants
  • Emerging players in Asia offering low-cost innovative solutions to the end-users are expected to challenge the established players in North America and Europe, leading to competition disruption in the market
Grand View Research has segmented the global aerospace parts manufacturing market on the basis of product, end use, and region:
Aerospace Parts Manufacturing Product Outlook (Revenue, USD Billion, 2016–2027)
  • Engines
  • Aircraft Manufacturing
  • Cabin Interiors
  • Equipment, System, and Support
  • Avionics
  • Insulation Components
Aerospace Parts Manufacturing Aircraft Outlook (Revenue, USD Billion, 2016–2027)
  • Commercial Aircraft
  • Business Aircraft
  • Military Aircraft
  • Others

Precast Concrete Market Size to surge at 6.3% CAGR is expected to reach $145.91 Billion in 2027 | Market Research Report

The global precast concrete market size is expected to reach USD 145.91 billion by 2027, according to a new report published by Grand View Research, Inc. It is expected to exhibit a revenue-based CAGR of 6.3% during the forecast period. Rising awareness regarding the superior quality and convenience offered by the product is expected to aid the growth.

Key industry participants are involved in technological innovations for developing new products in order to consolidate their market position. Rising consumer demand for high-quality products are projected to open up growth avenues for the new market entrants during the forecast period.
Asia Pacific is anticipated to remain the key regional market for precast concrete, due to the significant economic growth of the region. In addition, the presence of a huge construction industry in China and India is anticipated to provide a large market for precast concrete products.

Manufacturers focusing on producing quality precast products to meet rising consumer demand for precast concrete. High competition in the residential and nonresidential construction sector has compelled market players to implement superior and low maintenance yet cost-effective solutions to gain a competitive edge.
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Further key findings from the report suggest:
  • Structural building components has emerged as the largest product segment and accounted for 36.3% of the market revenue share in 2019, on account of its rising use in affordable housing projects
  • Infrastructure is expected to witness the fastest CAGR of 6.9% over the forecast period, owing to increase in spending by various governments for development of public infrastructure
  • Asia Pacific accounted for the largest market share in 2019 and is expected to reach USD 67.0 billion by 2027, owing to factors such as rapid urbanization, industrialization, and rising infrastructural development
  • Highly developed economy, growing construction spending combined with highly skilled workforce and growing R&D initiatives to encourage innovative products are the factors expected to aid the product demand in U.S reaching USD 16.12 billion in 2019
  • Precast concrete market key players are focusing on expanding their business in emerging economies in Asia Pacific to increase their footprint in high potential markets
Grand View Research has segmented the global precast concrete market on the basis of product, end use, and region:

Precast Concrete Product Outlook (Revenue, USD Billion, 2016–2027)
  • Structural Building Components
  • Architectural Building Components
  • Transportation Products
  • Water & Waste Handling Products
  • Others
Precast Concrete End-use Outlook (Revenue, USD Billion, 2016–2027)
  • Residential
  • Nonresidential
  • Infrastructure

Kombucha Market Size to surge at 19.7% CAGR is expected to reach $7.05 Billion in 2027 | Market Research Report

The global kombucha market size is anticipated to reach a market size of USD 7.05 billion by 2027, exhibiting a revenue-based CAGR of 19.7% over the forecast period, according to a new report published by Grand View Research. Rising consumer consciousness regarding consuming healthy food and beverages and leading a healthy lifestyle are the major factors driving growth.

Kombucha is a fermented tea, which falls under the functional beverage industry. Probiotic products and kombucha have similar characteristics. It helps balance friendly bacteria in the digestive tract, which improves the immune system. The increasing shift of consumers from dairy products to effective and efficient probiotic products is expected to boost the demand in the forthcoming years.
Kombucha also helps fight cancer, arthritis, and other degenerative diseases. It has the ability to detoxify the body, boost energy levels, increase metabolism, rebuild connective tissue, and reduce headaches. It is rich in bacterial acids and enzymes produced by the human body and uses them to detoxify the system, thus decreasing the pancreatic load and easing the burden on the liver. Growing awareness regarding the health benefits of kombucha is anticipated to drive the demand for the product in dietary supplements, which in turn is anticipated to drive the market over the forecast period.

In terms of flavor, the kombucha market is segmented into original and flavored kombucha. Flavored kombucha is expected to continue holding the leading market share and register the fastest CAGR of 21.8% over the forecast period. Easy availability and customization in terms of the added flavor is one significant advantage, which is driving the segment growth. In addition, the availability of inexpensive kombucha home brewing kits is driving the production, by giving them the power to experiment with flavors.
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Further key findings from the report suggest:
  • North America emerged as the largest regional in kombucha market in 2019, attributed to growing consumer awareness regarding the health benefits of the product
  • Kombucha sales through supermarket is expected to witness the fastest growth over the forecast period, owing to ease of conducting marketing campaigns and availability of a wide range of products from different manufacturers
  • Consumers are increasingly buying kombucha through online shopping portals due to its convenience factorized by direct to doorstep services, driving the growth of the segment in the forthcoming year.s
  • The global kombucha market is fragmented with the presence of numerous market participants. The key players include GT’s Living Food; PepsiCo; Reed’s Inc.; The Hain Celestial Company; KeVita Inc.; Buchi Kombucha; LIVE Beverages; and RedBull
Grand View Research has segmented the global kombucha market on the basis of flavor, distribution channel, and region:
Kombucha Flavor Outlook (Volume, Kilo Liters; Revenue, USD Million, 2016–2027)
  • Original
  • Flavored
Kombucha Distributor Channel Outlook (Volume, Kilo Liters; Revenue, USD Million, 2016–2027)
  • Supermarket
  • Health Stores
  • Online Stores
  • Others

Monday, 30 March 2020

Fuel Cell Market Size to surge at 15.5% CAGR is expected to reach $33.09 Billion in 2027 | Market Research Report

The global fuel cell market size is expected to reach USD 33.09 billion by 2027, exhibiting a CAGR of 15.5% over the forecast period, according to a new report published by Grand View Research, Inc. The rise in demand for unconventional energy sources is a key factor driving growth.

North America accounted for the largest market share in 2019 and is projected to continue leading over the forecast period, due to the commercialization and adoption of electric vehicles. However, Asia Pacific emerged as a growing market in terms of shipments. Rising demand for combined heat and power systems in is projected to drive the demand for fuel cell in the region.

Power-based electricity generation is effective in minimizing emission of carbon dioxide or any other hazardous pollutants. Hence, fuel cell technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players.
Using fuel cells can minimize the dependency on non-renewable energy sources such as coal, natural gas, and petrochemical derivatives. Fuel cells employ electrochemical process for generation of energy and result in less combustion of fuels. Hybrid systems using conventional engines and fuel cells are deployed in most of electric vehicles.
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Further key findings from the report suggest:
  • The fuel cell market is highly consolidated with major companies accounting for over 80% of industry demand. Hydrogen is anticipated to lead the market owing to continuous R&D activities
  • North America is expected to emerge as a largest market in terms of fuel cell installation due to regulatory scenario, technological advancements, and investments by federal government. Hence, public-private partnerships is crucial for gaining technological advantage
  • Government regulations and initiatives for minimizing emission rates and capacity to make use of domestic energy sources are some of the factors propelling the demand for hydrogen power plants
  • China is projected to showcase significant growth as a result of majority of Chinese fuel cell manufacturers emphasize on developing proton exchange membrane fuel cells which implies incorporating fuel cells in various modes of transport
  • Key market players include Fuel Cell Energy, Inc.; Ballard Power Systems; Hydrogenics Corporation; SFC Energy AG; Nedstack Fuel Cell Technology B.V.; Bloom Energy; Doosan Fuel Cell America, Inc.; Ceres Power Holdings Plc; and Plug Power, Inc. Apart from these, several other automobile manufacturers are in the process of launching their fuel cell vehicles
Grand View Research has segmented the global fuel cell market on the basis of product, application, and region:

Fuel Cell Product Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2016–2027)
  • PEMFC
  • PAFC
  • SOFC
  • MCFC
  • Others
Fuel Cell Application Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2016–2027)
  • Stationary
  • Transportation
  • Portable

Flywheel Energy Storage Market Size to surge at 8.9% CAGR is expected to reach $479.3 Million in 2025 | Market Research Report

The global flywheel energy storage market size is anticipated to be valued at USD 479.3 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.9% during the forecast period. Growing energy storage and automobile industries is expected to drive this growth.
Flywheel system accumulate energy and use it to deliver continuous power output where energy source is not continuous. In this system, electric energy can be generated by spinning the flywheel, which makes it an ideal solution in regulating supply. As compared to a solar photovoltaic cell or wind turbine, flywheels can produce energy throughout the day.
On the basis of application, the market is segmented into UPS, distributed energy generation, transport, data centers, and others. Data center is the largest application segment due to the growing demand for energy storage devices to overcome the risk of interruptions at the main power supply. The segment held around 44.0% of the global market share in 2018 and is expected to grow significantly over the forecast period.
High power density, long life cycle, and no degradation over time are some of the properties that work in favor of flywheel energy storage systems in vehicles. Growing automobile and transport industries are expected to drive this market over the forecast period. Transport segment is projected to register a CAGR of 10.6% over the forecast period.
Growing demand for Uninterruptible Power Supply (UPS) from end-use industries is expected to have a positive impact on the market growth. The market is consolidated with the presence of many small- and large-scale manufacturers. These players adopt strategies such as mergers and acquisitions, expansions, new product developments, along with joint ventures and collaborations, to increase their market share.
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Further key findings from the report suggest:
  • U.S. is projected to expand at a CAGR of 9.6% in terms of revenue over the forecast period. U.S. is among the largest consumers of the market. Problems arising due to interruptions and fluctuations of power supply have resulted in increasing demand for UPS systems from the commercial sector of the country
  • Germany, in terms of revenue, is projected to grow over USD 20.05 million by 2025. This growth can be attributed to rising demand from the automobile industry
  • Japan is anticipated to reach USD 2.04 million in 2025, driven by growing demand from the transport and energy storage sectors
  • Key players operating in the global flywheel energy storage market are Rotonix USA, Inc.; Calnetix Technologies, LLC; VYCON, Inc.; Powerthru; Amber Kinetics, Inc.; Active Power; Beacon Power, LLC; Piller Group GmbH; Power Tree; Temporal Power Ltd.; and Pentadyne Power Corporation.
Grand View Research has segmented the global flywheel energy storage market on the basis of application and region:
Flywheel Energy Storage Application Outlook (Capacity, KW; Revenue, USD Thousand, 2015–2025)
  • Uninterruptible Power Supply (UPS)
  • Distributed Energy Generation
  • Transport
  • Data Centers
  • Others

Solar PV Market Size to surge at 20.9% CAGR is expected to reach 489.79 GW in 2025 | Market Research Report

The global solar PV market is expected to reach 489.79 GW by 2020, according to a new report by Grand View Research, Inc. Rising demand for sustainable energy resources coupled with favorable regulatory policies, is expected to drive the market growth over the forecast period.
Supportive regulations involving federal subsidy and incentives expected to be the prime factors impacting the industry growth on a positive note. Europe has been a major market for solar PV owing to early adoption of the technology in the region owing to high consumer awareness and positive government outlook in region.

Increasing demand for renewable energy sources owing to rising consumer awareness towards cost benefits associated with the technology is expected to propel growth. Furthermore, depleting fossil fuel resources coupled with growing demand for durable energy sources is expected to have a positive impact on the industry growth.
The technology offer low conversion efficiencies as compared to conversional energy sources including oil and biomass. Furthermore, the solar PV performance gets affected by various factors including type of raw material used for solar cell manufacturing, availability of sunlight and solar PV designs which is expected to hamper its growth over the forecast period.
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Further key findings from the report suggest:
  • Utility is expected to be the fastest growing application segment, progressing at a CAGR of 21.3% over the forecast period, owing to the high demand for solar PV in electricity, and transportation
  • Non-residential application segment accounted for 26.3% of the total market share in 2016, high employment of solar PV in industrial processes for fulfilling heating requirements
  • European market is expected to witness a slow growth rate as compared to other regions, on account of early adoption of the technology in the region which led to saturation of the industry
  • Asia Pacific accounted for 17.9% of the total market share in 2016, on account of the favorable government regulations and initiatives taken by the government to install clean energy resources in order to curb the prevailing issue of pollution
  • The major players in the market are investing in R&D activities in order to come up with efficient and high performance systems in order to tap the rising consumer attention and to compete with the alternative energy resources
Grand View Research has segmented the global solar PV market on the basis of application, and region:
Solar PV Application Outlook (Installed Capacity, MW; 2012–2020)
  • Residential
  • Non-Residential/Commercial
  • Utility

BIPV Market Size to surge at 18.8% CAGR is expected to reach $36.74 Billion in 2025 | Market Research Report

The global building-integrated photovoltaics market size is expected to reach USD 36.74 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 18.8% from 2019 to 2025. Favorable rules and regulations to enhance renewable installations will drive the demand. In addition, policy tools such as financial incentives for BIPV installations will propel the growth.

Increasing adoption of renewable energy sources which help maintain the aesthetic appeal of buildings is likely to boost the demand for building-integrated photovoltaics over the forecast period. In addition, rise in awareness regarding energy sustainability and self-sufficiency among the consumers in various countries is projected to propel the growth of integrated installations over the next seven years.
Demand for integrated rooftop PV installations is expected to increase over the forecast period as these are one of the simplest installations. In addition, favorable policies and regulations supporting net-metering for renewable power sources in countries such as India, France, U.S., U.K., and Spain will result to boost the demand for roof-top solar installations in residential as well as commercial establishments over the forecast period.

Thin-film technology is expected to expand at a CAGR of over 20% from 2018 to 2025 due to better aesthetic appeal showcased by thin film technology in comparison to the Crystalline-silicon (C-Si) technology.
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Further key findings from the report suggest:
  • Roof-mount photovoltaics held the largest market share of over 60% in terms of revenue in 2018
  • Building-integrated photovoltaics glass is projected to emerge as the fastest growing application category for BIPV installations. The segment is estimated to reach a net global market worth exceeding USD 6.90 billion by 2025
  • Improved aesthetic appeal due to its transparent nature along with significant technological advancements in glass integrated installations is expected to drive the glass segment over the forecast period
  • Industrial segment led the global BIPV market due to efforts made by various manufacturers to limit their reliance on conventional sources and increase their adoption of greener sources of power generation
  • Asia Pacific is expected to witness the highest CAGR of 20.6% over the forecast period to reach a net worth exceeding USD 8.30 billion by 2025
  • Some of the major players operating in the global building-integrated photovoltaics market comprise AGC Solar, BIPV Ltd., Belectric Holding GmbH, and Heliatek GmbH. The companies are utilizing merger and acquisition strategy to enhance their global reach
Grand View Research has segmented the global Building-integrated Photovoltaics market on the basis of technology, application, end use, and region:
BIPV Technology Outlook (Revenue, USD Million, 2014–2025)
  • C-Si
  • Thin Film
  • Others
BIPV Application Outlook (Revenue, USD Million, 2014–2025)
  • Roofs
  • Walls
  • Glass
  • Façade
  • Others
BIPV End Use Outlook (Revenue, USD Million, 2014–2025)
  • Residential
  • Commercial
  • Industrial

Solar Tracker Market Size to surge at 32.0% CAGR is expected to reach 172.0 GW in 2025 | Market Research Report

The global solar tracker market demand is expected to reach 172.0 GW by 2025, expanding at a volume-based CAGR of 32.0%, according to a new report by Grand View Research, Inc. A solar tracker is installed on a photovoltaic (PV) system to get an increased energy output during the day. The PV system helps to minimize the angle of incidence between incoming light and panel, thereby increasing the amount of energy produced.
The single axis segment is predicted to have the highest growth over the forecast years and is projected to witness a revenue-based CAGR of 30.6% from 2019 to 2025. Single axis tracker is economical than dual axis tracker and easy to maintain. The market is expected to witness substantial growth over the forecast period owing to growing need for renewable power generation, especially in the single axis segment.
The dual axis segment accounted for lower market share in terms of volume and is projected to exhibit lower CAGR during the forecast period. Dual-axis solar trackers comprise two degrees of freedom that act as axis of rotation. The axis fixed to the ground is considered as the primary axis and the one referenced to the primary axis is called the secondary axis.
Dual axis trackers have modules that are oriented parallel to the secondary axis of rotation. They allow maximum absorption of the sun’s rays on account of their ability to follow the sun both horizontally and vertically, thus generating 8% to 10% more energy than single axis trackers.
In terms of technology, the PV segment is anticipated to hold majority share in the market over the forecast period. The simplicity of its design along with the cost-effectiveness make them ideally suitable for most PV applications at utility level.
Additionally, trackers installed on PV modules occupy less space as compared to the concentrated photovoltaic (CPV) and concentrated solar power (CSP) technologies. The PV technology does not require any additional lenses, mirrors or sterling energy to generate electricity, thereby making them suitable for use in non-utility applications.
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Further key findings from the report suggest:
  • The solar tracker market is estimated to witness a volume-based CAGR of 32.0% from 2019 to 2025. Solar tracker helps in increasing the efficiency of the cell. Increasing solar PV demand in various regions is expected to propel the growth of the market over the projected period
  • Solar PV emerged as a leading technology segment accounting for a revenue share of close to 91.0% in 2018. Increasing government focus on renewable energy has resulted in the development of PV cells as a sustainable and continuous source of energy generation
  • The single axis segment leading product segment covering more than 64.0% of the market volume in 2018 and is projected to grow at highest CAGR during the forecast period. Single axis trackers are less expensive as compared to dual axis trackers and, therefore, are widely employed in utility and non-utility application
  • The utility application segment is expected to account for more than 87.0 % of the market volume in 2025 and is projected to grow at highest CAGR during the forecast period. Trackers are being used on a large-scale in utility applications in light of increasing government subsides coupled with feed-in tariff schemes particularly in North American and European region
  • North America accounted for the largest market share of more than 30.0% volume share in 2018 owing to favorable policies and incentives for solar PV installation in the country. However, Middle East and Africa market is projected to exhibit the highest CAGR during the forecast period on account of rise in investments for renewable energy sources in the region
  • Major companies actively operating in the solar tracker market in the present scenario include NEXTracker Inc.; PV Hardware; Soltec; First Solar Inc.; and Array Technologies Inc. These companies are adopting various organic as well as inorganic growth strategies to augment their market share.
Grand View Research has segmented the global solar tracker market on the basis of technology, product, application, and region:
Solar Tracker Technology Outlook (Volume, MW; Revenue, USD Million, 2014–2025)
  • Solar photovoltaic
  • Concentrated solar power (CSP)
  • Concentrated photovoltaic (CPV)
Solar Tracker Product Outlook (Volume, MW; Revenue, USD Million, 2014–2025)
  • Single Axis
  • Dual Axis
Solar Tracker Application Outlook (Volume, MW; Revenue, USD Million, 2014–2025)
  • Utility
  • Non-utility
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