Market outlook of the grid scale energy storage market
Technavio’s research analyst predicts the global grid scale energy storage market to grow steadily at a CAGR of around 34% during the forecast period. Fossil fuels, the most extensively consumed power source, are exhaustible. The deficit between the demand and the availability of energy is increasingly getting addressed by these storage systems. Given these factors, the market is expected to grow significantly during the forecast period.
Government mandates and concerns over carbon emissions are anticipated to increase the demand for grid-scale energy storage systems. For instance, in 2014, the California state government imposed a mandate that required the state's investor-owned utilities to purchase about 1.3 GW of storage capacity by the year 2020. This gave a massive boost to the energy storage sector. Such mandates are likely to accelerate the development of storage technologies. Globally, the development of next generation batteries drives the demand for grid-scale energy storage.
Segmentation by technology and analysis of the grid scale energy storage market
- Pumped hydroelectric storage system
- Thermal storage
- Battery storage
- Compressed air energy storage
- Flywheel storage
- Molten salt storage
The pumped hydroelectric storage segment dominated the market during 2015 with a market share of around 94%. Technological feasibility, cost competitiveness, and government support have increased the global demand for grid-scale energy storage systems. For instance, in the US, the number of PHS plants is expected to rise during the forecast period with 50 active preliminary permits.
Geographical segmentation and
An outlook of the commercial water treatment equipment market
Technavio’s market research analyst predicts the global commercial water treatment equipment market to grow steadily at a CAGR of approximately 6% during the forecast period. Increased demand to save water by recycling is one of the major factors driving the growth of the market. The commercial water treatment equipment is primarily used in sectors such as hospitality, retail, food services, and others. It is envisaged that the application of water treatment equipment is likely to see a positive growth in the hospitality and education sectors over the next few years.
Setting stringent regulations worldwide to follow the water quality standard is another major driver for the growth of the market. For instance, organizations such as WHO, EU, and EPA have set the standards for contaminants in POU water. An increase in the number of such standards will drive the demand for commercial water treatment equipment during the forecast period.
Segmentation by application and analysis of the commercial water treatment equipment market
- Food services
- Education sector
- Retail sector
The hospitality segment led the market during 2015, with a market share of approximately 29%. The need for clean water and the increased number of government initiatives have hiked the global demand for water treatment equipment. For instance, the EU hospitality industry has shifted its focus toward flow rate regulation and gray water treatment to save water.
Geographical segmentation of the commercial water treatment equipment market
The Americas accounted for
Overview of the global power rental market
Market research analysts at Technavio have predicted that the global power rental market will grow steadily at a CAGR of almost 5% by 2020. The rise in infrastructure development will subsequently increase the demand for electricity and power, which have become one of the necessities in the development of a country. This market research analysis identifies the expanding construction activity in GCC countries as one of the primary growth factors for this market. The recent years have seen an exponential increase in infrastructure spending by the governments of countries in the Middle East. Governments have started focusing on generating more sources of income and depending less on just oil and gas reserves. GCC countries are focusing on making the Middle East a commercial hub and encourage tourism which will lead to the to the growth of the hotel industry. This has resulted in the enormous scope for using rental power in construction and other related areas.
In terms of geography, the Americas will account for more than 41% of the total share of the market by 2020 and will also dominate the generator rental industry throughout the forecast period. Grid failures during natural calamities in the US and frequent power outages in Brazil have induced several industries in the region to depend on rental power, which will drive the constant demand for rental generators during the predicted period.
Competitive landscape and key vendors
Due to the presence of a several prominent vendors who offer generators ranging from 20 kW to 2,000 kW for use in several sectors, the market appears to be fragmented. Vendors in the market offer a broad variety of products and turnkey solutions
Overview of the global hybrid power systems market
Market research analysts at Technavio have predicted that the global hybrid power systems market will grow steadily at a CAGR of almost 6% by 2020. The constantly increasing need for electricity and the limited availability of fossil fuel reserves has induced several countries to import vast quantities of crude oil and gas, impacting the growth of their economies. Moreover, the combustion of fossil fuels also leads to greenhouse gas emissions, which will compel these countries to adopt renewable sources such as solar, wind, and bio-fuels for power generation as they can be quickly deployed as decentralized systems. Renewable resources are inherent in nature. This can be overcome by using renewable technologies in a hybrid form where these systems use energy storage systems to store the additional electricity generated for use whenever there is a shortfall in power production. This implementation of hybrid renewable energy systems will propel the market’s growth prospects =in the forecast period.
In terms of geographical regions, APAC will account for more than 38% of the total share of the market by the end of 2020 and will also dominate the market throughout the forecast period. Unreliable grid infrastructures and the presence of several islands drive the need for micro and mini-grids to supply power to both the residential and non-residential sectors. Additionally, the governments of countries such as India and Indonesia are also supporting the adoption of standalone hybrid systems, which will augment the demand for the growth of the next four years. India, China, and other Southeast Asian countries are the major growth contributors for the
Market outlook of gasoline market in the US
Technavio’s research analyst predicts the gasoline market in the US to witness a decline in the consumption of gasoline during the forecast period. In terms of gallons consumed per day, the analysts have estimated this market to surpass 18,732 gpd by the end of 2020. The government mandates to use gasoline in conjunction with additives has led to the constant use of gasoline in the market. Gasoline can be blended with biofuels such as ethanol, which results in better performance than its other counterparts such as diesel. Government regulations support the use of gasoline over other fuels due to the right balance of emissions and fuel performance that it provides.
The transportation industry in the US is undergoing continual changes in terms of technology upgrades in light duty vehicles. The vehicles currently being manufactured have improved vehicle bodies and engines. Also, the stringent government regulations encourage the use of better grade gasoline leading to more efficiency gains. This in turn leads to a decrease in the quantity of gasoline consumed per mile. A combination of these two factors has resulted in a constant decline in gasoline consumption over the years that is expected to continue during the forecast period.
Geographical segmentation and analysis of the gasoline market in the US
- East Coast
- Gulf Coast
- Rocky Mountain
- West Coast
During 2015, the Midwest region held the largest share of about 37%. The gasoline consumption in the region is expected to decline at a CAGR of 5% over the forecast period. This is because blending of biofuels with gasoline is highly popular in the region.
Competitive landscape and key vendors
Overview of the aviation fuel market
Market research analysts at Technavio have predicted that the global aviation fuel market will grow steadily at a CAGR of more than 3% by 2020. Countries such as the US and the developed countries in Europe have started investing in biofuel products. However, due to the long gestation period for returns, the investments have been primarily short-term in nature. Since, biofuels are still not commercially available at a competitive price, there is no bulk purchase by airlines. However, the recent regulations by several countries all across the globe that mandate the reduction of greenhouse gas emissions (GHG) will encourage the use of biofuels in the aviation industry. Several countries in the European Union have already started using blended fuel, a mixture of biofuel and jet fuel for reducing carbon emissions. The trend will follow in the coming years, and more countries around the globe will adopt biofuel as the primary fuel for the aviation industry.
In terms of geography, the Americas will dominate the airplane fuel market throughout the predicted period and will also account for a total market share of about 66% by 2020. The US is the major contributor in the market, and this mainly attributes to the increase in the number of aircraft in the recent years and the continued growth in the number of passengers flying to and from the US. Also, air fleet additions and upgradations in the US military sector will also contribute to the growth of the market.
Competitive landscape and key vendors
The market is characterized by the presence of several global, regional, and local aviation fuel companies
The energy industry is in a state of flux. Declining fossil fuel reserves are driving energy security concerns, which are boosting prospects for alternative energy sources. Globally, thermal power is steadily losing ground as renewable power, like wind, solar, biomass, biogas, and tidal, is gaining traction and more and more renewable sources achieve grid parity.
Additionally, smart grids have emerged as a key growth driver in this segment and are helping transform the way we obtain and use energy. Integration of smart grids with renewable energy sources has also facilitated the growth of the energy industry as a whole.
Distributed generation, microgrids, and next-generation energy storage are some of the new technologies that are gaining prominence across the industry.
Technavio’s energy reports are extensive in coverage and include markets like smart grid, oil and gas, power, energy storage; and water and waste management.