Global outlook of the wind turbine gear oil market
Technavio’s market research analysts have predicted that the global wind turbine gear oil market will grow steadily during the forecast period and, in terms of volume, will post a CAGR of about 13% by 2020. Countries across the globe are constantly concentrating on introducing measures such as the deployment of a large number of turbines, effectively handling supply-chain challenges, and even encouraging vendor competition to reduce costs in installing and operating off-shore wind turbines. In addition to the developed countries in Europe, major countries like the US, China, Japan, South Korea, and India are also expected to increase the number of off-shore wind turbine installation projects, which will have a positive impact on the growth of the wind turbine gear oil market in the next four years.
Wind turbine manufacturers have started shifting their focus from reactive maintenance to preventive and proactive maintenance. Manufacturers have started installing gear boxes with filters, probes, and sensors to monitor the properties of gear oil and are also equipping turbines with linear variable filter (LVF) based mini spectrometers for remote monitoring. This digitization of the wind turbine gearbox is considered to be one of the major trends that will gain traction in the market during the forecast period. Additionally, recent government initiatives encouraging power generation using renewable sources across all countries in the APAC will also increase the number of wind turbine installations in this region. This market study estimates that APAC will account for almost 46% of the total share of the wind turbine gear oil market by 2020.
Competitive landscape and key vendors
The wind turbine gear oil market is still evolving and
Overview of the CCS in power generation market
Technavio’s market research analysts have estimated the global CCS (carbon capture and storage) in power generation market to grow profoundly at a CAGR of about 60% by 2020. The over-dependence on fossil fuels and abundant supplies is considered to be one of the primary growth drivers in this market. Technological advancements and booming economies are directly dependent on the availability of energy and ever since commercial uses of oil and natural gas was discovered, the demand for fossil fuels has only increased. The available fossil fuels are expected to meet the energy demands for decades. There will be significant emissions of greenhouse gases, which will, in turn, increase the demand for carbon capture and storage systems.
This industry research report identifies the apprehensions related to EOR (enhanced oil recovery) application as one of the major trends that will gain traction in this market in the coming years. The significance of CO2 in oil and natural gas recovery has been around for decades. The rise in the number of CCS projects has led to the abundant availability of CO2 which can now be injected into the reservoirs to replenish the naturally occurring gas drive. The constantly increasing demand for fossil fuels will subsequently lead to the demand for EOR techniques, which will, in turn, drive the growth of the CO2 sequestration technology market.
Segmentation by application and analysis of the CCS in power generation market
- Pre-combustion capture
- Post-combustion capture
- Oxy-fuel combustion capture
According to this market study report, the pre-combustion capture segment will dominate the CCS in power generation market during the forecast period and will account for almost 63% of the total market share by 2020. The
Global market outlook of solar diesel hybrid power systems
Technavio’s market research analyst predicts the global solar diesel hybrid power systems market to grow at a CAGR of around 7% by 2020. With the decrease in the prices of solar power, the rate of photovoltaic (PV) adoption has gained high traction leading to a high number of installations over the years. However, the power output from solar PV depends on factors such as efficiency of the panel, solar irradiation, and the degree of shading, which varies according to the time of day and the amount of cloud cover. To overcome the problem of intermittent nature of solar power and have cheaper, cleaner, and reliable renewable power, several off-grid sites in remote areas are integrating solar PV with diesel generators as a power source, where both the systems can complement each other to provide continuous power. This has led to an increase in the integration of renewables with traditional power generation sources.
Solar diesel hybrid power systems are gaining popularity due to their potential of power-saving attributes in industries like mining and for mini-grids. Vendors in the market are focusing on developing hybrid systems equipped with a fuel controller that can regulate the power generation from both the solar and the diesel improving the efficiency of the total system. Since the weather has a huge impact on PV power generation, the manufacturers have developed
Overview of the global smart grid IT systems market
Technavio’s market research analyst predicts the global smart grid IT systems market to grow at a CAGR of close to 13% by 2020. The growing demand for improved grid reliability, efficiency, control voltage fluctuation, and integration of renewables has pushed the utilities to look out for solutions in managing new assets. Several IT companies are offering specific IT solutions such as SaaS, which will allow utilities to integrate different smart grid systems and manage them from a central location. IT solutions help utilities to save on the maintenance of smart grids and the software upgrading costs. Several financial benefits associated with smart grid IT systems will increase their implementation during the forecast period.
The utilities are modernizing the grid by adopting smart grids that use digital and IT systems to manage the power flow efficiently and effectively. Such modifications will help them to make the grid reliable, protect it against cybersecurity, and increase flexibility to make rapid changes as per supply and demand conditions. The shift towards using digital sensing field devices, and communication and control technologies have propelled utilities towards grid modernization; thereby boosting growth prospects for the smart grid IT systems market.
Segmentation by application and analysis of the smart grid IT systems market
- Data analytics
The energy management system (EMS) was the largest segment in the smart grid IT systems market in 2015 and accounted for around 31% of the overall market share. The growing adoption of smart grid systems across the globe has increased the grid reliability and minimized losses subsequently. EMS provides clear visibility and control of the transmission and distribution grid, and helps utilities to optimize the
Global outlook of the farm management software market
The global market for farm management software is anticipated to exhibit tremendous growth during the forecast period and will be positively affected by the numerous advantages associated with the adoption of precision farming. At present, due to the surge in food demand, the concept of precision farming is being adopted in developed countries to improve crop performance. This preference for precision farming coupled with the use of farm management software will help in the proper utilization of fertilizers during spraying and application. Since this software helps farmers to minimize resource wastage and saves cost and time, it will be used by end users to obtain real-time and updated data regarding soil moisture, evapotranspiration, and electrical conductivity. According to Technavio, the market for farm management software will grow profoundly at a CAGR of almost 17% by 2020.
Another factor spurring growth in this market is the extensive use of virtual fences. Animals graze over large paddocks that are separated by fences to prevent the movement of cattle to other paddocks. Since maintaining and fixing fences is a time-consuming and costly affair, the need for virtual fences that are operated using network programming and remote sensors has increased. Benefits such as the ability of virtual fences control the movement of herds in farmland and protect the crops from being grazed by the animals will result in its augmented demand during the forecast period.
Competitive landscape and key vendors
The global farm management software market is an integral part of the precision farming software market, which includes automation and control systems and sensing and monitoring devices. The market is fragmented owing to the presence of many small and large players who continually compete to gain maximum market shares.
Market outlook of biogas upgrading equipment
Technavio’s market research analyst predicts the global biogas upgrading equipment market to grow steadily at a CAGR of over 9% during the forecast period. As countries worldwide are increasingly looking for sustainable power that does not have any adverse effect on the environment, investments have increased in renewable fuels such as biomethane, which is the upgraded form of biogas. Biogas is obtained from waste products and upon upgrading, it can serve as 100% replacement for natural gas. There has been high demand for upgraded biogas, as it will help reduce the dependency on fossil fuels that are depleting.
The increase in adoption of natural gas vehicles is also expected to propel the biogas upgrading equipment market during the forecast period. The governments in countries like the US, the UK, Sweden, Italy and China are promoting the use of renewable natural gas. Therefore, the combined benefit of environmental, economic and government support is expected to boost the use of upgraded biogas in the transportation sector, which in turn will drive the market growth during the forecast period.
Technology segmentation and analysis of the biogas upgrading equipment market
- Water scrubber
- Chemical scrubber
In 2015, the water scrubber technology led the market with more than 42% share. It is a proven technology that has been used for the longest time as the process is simple and incurs low investment compared with other technologies. Water scrubbing is continuously undergoing development and is among the best technologies to be used in various types of facilities.
Geographical segmentation and analysis of the biogas upgrading equipment market
The power industry is in a state of flux — declining fossil fuel reserves are driving energy security concerns, which is boosting prospects for alternative energy sources. Globally, thermal power is steadily losing ground as renewable power like wind, solar, biomass, biogas, geothermal, and tidal power gain traction and more and more renewable sources achieve grid parity.
Integration of renewable energy sources with smart grids has also facilitated the growth of the power industry as a whole. Hydroelectric power and nuclear power are also gaining prominence, as they are cleaner sources of power generation.
As power generation sources are being increasingly diversified, there is a need to strengthen the power transmission and distribution network to support increased generation. Governments globally are making huge investments to upgrade and build new transmission infrastructure.
Distributed generation, micro-grids, and next-generation energy storage are some of the new technologies that are gaining prominence across the industry.