High Demand in Power and Residential Sector Boost LPG Vaporizer Growth

9 July 2020: LPG is stored and transported as liquid under pressure and in order to use, it needs to be vaporized within a tank or a cylinder. This process of vaporization is controlled using a vaporizer. Rising needs in industrial as well as commercial segments for LPG gas vaporization has fueled the LPG vaporizer market. LPG vaporizers are used in regions with unfavorable climatic conditions, natural vaporization process has reduced efficiency and hence. Also, natural vaporization requires high vaporizer rate and it cannot be used in industrial applications. These factors are responsible for the growth of the LPG vaporizer market in the forecast period.

Moreover, increasing use of LPG in commercial, residential, agriculture, and industrial sector will propel the growth of the market. However, variations in LPG exports, changes in costs of the product, and government legislation are expected to negatively impact the growth of the market in the next few years. 

Advantages of Direct Fired LPG Vaporizer Fuel Segment Growth

Based on product, the market is segmented into direct-fired vaporizer, electric vaporizer, and steam/water bath vaporizer. On account of several advantages associated with the product, direct-fired LPG vaporizer segment is expected to witness the fastest growth over the next few years. Some of its advantages include easy transportation, produces high amount of heat even in smaller units, safe for unsupervised use, and low maintenance and rental cost.

Electric vaporizer is the most used product in the regional market of North America. These vaporizers make use of an external heating element and are indirectly fired, which is leading to the segment growth. The electric LPG vaporizers can operate in tightly sealed places and deliver approximately 80% efficiency. The product category also has wide range of applications and accounts for a significant share of the market. 

Market Insights

The major driving factor for the LPG vaporizer market is the increasing use of LPG requiring high-pressure vaporization of the gas. The increasing gas developments have created investment opportunities in many segments of the LPG industry including gas distribution, equipment market, storage, terminal, and marketing.

Major companies of the industry are competing on different factors including new product development, cutting-edge manufacturing technologies, abiding to manufacturing & safety codes/policies, and technological advancements.

Major manufacturers of the LPG vaporizer market include Standby Systems, Inc.; Pegoraro Gas Technologies Srl; Algas-SDI; and Ransome Gas Industries, Inc. There is a high degree of integration by companies such as Ransome Gas Industries, Inc. and Algas-SDI across the distribution and manufacturing channels of the industry.

Usage in Industrial and Residential Sector Drive PV Inverters Growth

7 July 2020: Photovoltaic inverters are renewable energy systems, also known as solar inverters. These devices use DC power from the solar panel and convert it into AC power for their use in home appliances. Photovoltaic inverters can be categorized under string, central, micro, battery inverters, and hybrid. These inverters are also designed in single and three phase versions known as Micro and string PV inverters. Three-phase inverters are used for other utilities and in industries and single phase inverter are majorly used for residential purposes. Major factor driving the growth of market is increasing demand for energy coupled with regulatory framework that supports clean energy. 

Central PV Inverter to be the Largest Segment

Based on product, the PV Inverters market is segmented into string, central, micro, and others. Central PV inverter accounted for the largest segment of the global market. Industrial facilities, field installations, and buildings have major applications of these equipment, which are designed for large arrays of panels. The product receives DC power from all the solar panels into a combiner box, which is usually enclosed in a protected environment. It becomes a single point for distribution as it converts the received DC power to AC power. These inverters have more credibility over other products as they have been in the market for a long period of time.

String inverters have an extensive array of applications and are the second most widely used products, used primarily in commercial and residential sectors. On account of rapid technological advancements in the past few years, they have gained immense significance. These inverters offer lower initial cost per peak watt price and are easier to install.

End-use segments has witnessed growth on account of various factors. For instance, utility segment experienced a significant increase due to grid-connected photovoltaic systems that operate in parallel with the conventional electricity utility grid. Industrial and commercial scale systems are largest market for inverter manufacturing companies since they have higher requirement of retail electric power with cost-effectiveness.

Market Insights

Reduction in cost of renewable power generation is a major factor fueling the market of PV inverters. Factors restraining the market growth are the increasing demand for electricity generation and use of substitutes such as hydropower energy system. Some of the major companies in the PV inverters market are Siemens AG; ABB; KACO Omron Corporation; Hitachi H-Rel Power Electronics Pvt. Ltd; SunPower Corporation; Eaton; Power-One; Tigo Energy; and Enphase Energy.

Oil Storage Industry to Promote Supply and Storage Infrastructure

14th April 2020: The oil storage market stood at 1.42 billion cubic meters in 2015 given the high demand for oil production from end-use industries. In order to stock huge supply of crude oil, the providers are inclined to improve their infrastructure and inventories. Oil is purchased and stored by the companies that are vertically integrated. These companies store the oil until its cost inflates, selling the stock for immediate delivery. The stored oil could be shifted for refinement process and can be stored for a short duration of time. 

Downstream operations include number of levels of control and automation for enormous storage tanks and for processing. To protect the stockpiled volumes, the government and international entities launch support initiatives such as Strategic Petroleum Reserve. Under such initiatives and other similar schemes, the companies that are involved in stockpiling are protected from untimely price spikes and stock out situations. Oil is an important source of power and energy and its availability and distribution can contribute to the achievement of sustainable targets. 

High Quality Product with Unique Characteristics to Fuel the Growth

Based on product, the segment includes open top tanks (OTT) and fixed & floating roofs. Tank is designed on the basis of type of input such as feedstock and unfinished or finished product. OTT enhances the risks of fire incidents and product contamination and has major application in liquid with negligible to zero evaporative losses.

Decreasing prices of crude is fueling the growth of the oil storage industry. The fall of prices motivate the vendors to reserve and increase storage facilities. It plays a pivotal role in affecting the prices of various products such as gasoline and lubricants, propelling the market growth. 

Fixed roof accounted for the largest share of the segment due to its benefits such as high quality characteristics that minimize risks of a fire. The designing of the oil storage tanks coupled with minimum and affordable cost associated with its installation has led to high demand of the product over the past few years. Floating roof tanks (FRT) are also anticipated to witness huge demand over the forthcoming years. This is due to product design as its major feature includes evaporative losses and minimizing corrosion. FRT segment is categorized as external and internal. Floating roof is anticipated to grow at a CAGR of over 5% over the forecast period. 

Floating roof storage is likely to grow exponentially due to increasing demand for the storage of large quantities. It is also due to its capacity to store medium and low flash point petroleum products in huge numbers. It’s characteristic of largely decreasing the volatile organic compound emissions and also effectively contributing in reducing the product losses makes the adoption of these tanks more preferable.

Rise in demand for storing liquefied gases including nonrenewable liquefied petroleum gas (LPG) extracted from natural gas along with liquefied natural gas (LNG) that is cooled down to for safety and ease of non-pressurized transport and storage is likely to boost the market. Stringent government norms due to concerns of environmental pollution is a major factor spurring the demand for LNG.

Fixed roof oil units used to store high flash point liquids including kerosene, fuel oil, and diesel that offer great strength while largely responsible for reducing environmental impact, will also boost the product penetration. 

Market Insights

Some of the notable trends of the market include decreasing prices of the crude oil, rise in adoption of alternative fuels for cleaner shipping, and growth of liquefied natural gas (LNG).  Increasing demand for rising oil production, falling prices of crude oil, high storage capacities, increasing need for improving infrastructure, and availability of import or distribution facilities globally are driving the growth of the market. In addition, fluctuating rate of natural gases, exploration of alternative resources, increasing concern towards energy security, are factors likely to have a positive impact on high-quality storage. 

Along with regulatory norms, technological advancement and concerns for reducing environmental impact, and increasing usage of nonrenewable energy sources is likely to drive demand over the next nine years. For instance, Columbian Steel Tank Company has declared to invest in unique aluminum geodesic dome designs that would reduce UV degradation and environmental impact. Key players such as CST and Marquard & Bahls are now keen on offering a high degree of product containment to develop innovative product designs with high durability. Major companies of the oil storage market include Belco, Marquard & Bahls AG, Zepnotek Storage Tanks, ZCL Composites, Columbian Steel Tank, LF Manufacturing, and Palmer. 

Wind Energy Foundation Promotes Renewable Energy Resources

9 April 2020: The wind energy foundation market has seen a substantial growth due to rising concerns regarding the need to increase the usage of clean energy resources boosting the growth of the market. Foundations are concrete blocks known as footings that are placed under wind turbines that supports the structure. In an onshore wind energy foundation project, the foundation is constructed under challenging conditions. These wind energy installations have witnessed a rise in the number of installations due to its several advantages. Wind energy is a clean fuel source and offers many advantages, which explains why it’s the fastest growing energy source in the world. Wind turbines do not produce atmospheric emissions, do not cause greenhouse gasses, or result in acid rain. Winds are caused by the heating of the atmosphere due to the sun and the energy produced can be harnessed forever to generate power.

Increasing population, depleting fossil fuel, and rapid industrialization have prompted governments, international entities, and manufacturers to invest in renewable energy resources. The demand for wind energy foundation is expected to increase as a result of growing world economy. This is due to surge in global economic activity and higher living standards. New emphasis on low carbon fuels along with stringent environment laws provide a major boost for the wind energy foundation industry.

Due to a surge in wind energy foundation installation capacity over growing environmental concerns, renewed efforts are aimed at reducing the harmful effects of the greenhouse gases. This has been a major factor as governments all around the world are actively supporting and funding initiatives to save and improve the energy resulting in propelling growth of the wind energy foundation industry over the forecast period. 

Growth of Off-Shore Segment Boosts Power Grid Installations

Onshore accounted for the largest market segment in terms of revenue in 2015 whereas offshore segment is expected to be the fastest growing segment over the forecast period. This is due to increasing offshore investments coupled with technological innovations. This has helped in building offshore facilities as leading companies are keen on investing in order to expand capability in building offshore installations. Offshore segment accounts for marginal amount of the global electricity generation. However, various factors such as policy support, maturing supply chain, and technology advancements are turning offshore activities an increasingly viable option for renewables-based electricity generation. 

The offshore category is segmented into mono-pile, suction, jacket–pile, gravity, and tripod. Offshore wind energy foundation or wind power is utilization of wind farms that are usually constructed off the shore or on the coastal line to generate electricity by harvesting wind energy. Jacket-pile is expected to be the fastest growing segment and it is used in deep water due to its light weight characteristics and easy to install properties. It has been used in seabed structures and several initiatives and projects in Europe and is opening new opportunities for mono-pile wind energy foundation in Europe. Mono-piles structures are difficult to transport as these are quite heavy. This is a challenge and may act as a major restraint for mono-pile market.

Market Insights

The market has very few companies and is a niche market having various range of services that cater to the wind energy foundation industry. Companies such as Fugro Renewable Services and Offshore Wind Power Systems of Texas LLC are providing geotechnical services and are engaged in offshore wind farms. Their activities include assessment and environment impact management, subsea cabling, sea bed geotechnical service, design, and foundation assessment. 

The industry players are spread across the value chain. There are a few players who provide end to end solutions and others who work in building foundations while few offer site survey to operate the wind farm.

Key players of the wind energy foundation market include SWAY AS, Blue Owec Tower AS, MT Højgaard., Suzlon Group., H Engineering BV, Ramboll Group, Offshore Wind Power Systems of Texas LLC, and Bladt Industries A/S.

Energy Management to Drive Thermal Energy Storage Market

18th October 2018: The worldwide thermal energy storage market is estimated to touch USD 12.5 billion by 2025, according to a report by Grand View Research, Inc. Thermal energy storage (TES) is a technology used to store heat energy. This technology allows companies to utilize the energy during winter or summer. It can even store energy from alternative sources such as biomass, sun, wind, and tides. TES can accumulate energy using technologies such as miscibility gap alloy (MGA) technology, solar energy storage, molten salt technology, ice-based technology, and electric thermal storage heaters. Major end users are residential, commercial, industrial, and utility sectors.

The reduced dependence on fossil fuels has led to the development of various alternative energy plants. TES is being increasingly used in concentrating solar power (CSP) plants to accumulate energy. For instance, the Crescent Dunes project in Nevada uses TES to power up nearly 75,000 homes during peak hours. Research on phase change materials is being undertaken due to its capacity to store more energy than sensible heat storage technology.

Energy manufacturers are capitalizing on Internet of Things (IoT) in order to control the demand and supply of energy at peak hours. IoT can be used in gathering accurate weather data and predict the lows and highs in energy storage systems. Contingency plans can be created to ensure savings of energy expenses and provide comfort during peak times. Software behemoths such as Google, Apple, and Facebook are also adopting a renewable energy generation method for their needs. This trend can influence various industrial players in pursuing the same route.

The thermal energy storage market is expected to grow at a healthy rate from 2014 to 2025 (forecast phase) owing to the demand for cost-efficient energy sources. The increasing demand from countries such as the U.S., Brazil, and Saudi Arabia and government policies encouraging renewable technologies are expected to bode well for market growth. The rise in electric vehicle infrastructure, establishment of smart grids, and demand for uninterrupted power supply is anticipated to open up new avenues for growth. Key market players include Dunham-Bush Holding Bhd., Abengoa Solar S.A., Chicago Bridge & Iron Company N.V. (CB&I), and Ice Energy.

Battery Recycling to Conserve Useful Metals and Reduce Harmful Emissions

3 October 2018: The global battery recycling market is predicted to value USD 21.04 billion by 2025, according to a report by Grand View Research, Inc. Environmental concerns to control harmful emissions from battery waste owing to increasing air pollution is expected to impel demand for battery recycling. Growing necessity to recover valuable materials and metals from used batteries can further stimulate the demand.

High demand for batteries from multiple end-use industries such as consumer electronic and automobile is likely to create scarcity of resources required for production of new batteries. Recovery of metals and other useful raw materials from used batteries can resolve the issue while reducing CO2 emissions. Such environmental benefits are likely to increase the demand for battery recycling. Considering the demand, most manufacturing companies are focusing on research investments to offer better products equipped with innovative technologies.

For instance, Toyota recently revealed that it is working on a new battery technology based on solid electrolyte against conventional semi-liquid state. The company believes that these new form of batteries are expected to be available in electric vehicles by 2020. The technology can possibly support production of compact and lightweight lithium-ion batteries for electric vehicles. It can also offer longer usable life, potential product recycling, and alternative post-vehicle life to the batteries. Considering the benefits of this new technology, the automobile giant is predicting that it can come up as a big boom for automakers dealing in electric vehicles.   

Stringent government regulations to reduce harmful emissions owing to increasing air pollution can stimulate growth of battery recycling market. Growing awareness about benefits of recycling among humans is likely to drive growth of the market in the coming years. Increasing use of recovered metals to produce recycled batteries owing to reduced CO2 emissions and less consumption of energy in mining can foster market growth during the forecast period (2017 to 2025).

Some of the prominent companies operating in the market for battery recycling are Aqua Metals, Exide Technologies, Call2Recycle, ECOBAT, and G&P Batteries.

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Improvements in Li-ion Battery Performance to Ensure Greater Adoption in Consumer Electronics

7 September 2018: A lithium-ion battery or Li-ion battery is a rechargeable battery in which lithium ions travel from negative electrode to the positive electrode during discharging and reverse when charging. The constituent components of the battery are two electrodes and electrolyte, which allows the ionic movement. They are mainly used in portable equipment. They are also used across other industries including consumer electronics, automotive, energy storage systems, and industrial.

Energy Storage Systems: A Promising Application Segment for Li-ion Batteries

Among all the application areas, energy storage systems segment will exhibit the highest CAGR over the forecast period (from 2018 to 2025). Rising number of off-grid installations owing to government support can propel the segment growth. Increasing deployments of solar photovoltaics due to growing concerns regarding environment degradation are also contributing towards segment development.

Consumer electronics commanded the largest share in 2016. These batteries are acknowledged for their high reliability and durability in consumer electronics, such as smartphones and laptops. Booming electronics industry in countries, such as Japan, China, South Korea, and Taiwan, is likely to stir up the demand for Li-ion batteries. Constant improvements in the battery technology will further drive the segment growth.

For instance, in December 2017, researchers from Sandia National Laboratories discovered a way of augmenting the efficiency of solid-state batteries and improving the flow of lithium ions across battery interfaces such that the battery performance can be enhanced in small electronic devices.

Market Insights

According to a report by Grand View Research Inc., the global lithium-ion battery market is anticipated to reach a valuation of USD 93.1 billion by the end of 2025. Growing demand for Electric Vehicles (EVs) is expected to provide an upthrust to the market. Governments are playing a critical role in encouraging a shift from fuel to electric batteries, in order to curb emissions and safeguard the environment.

The market in Asia Pacific will post a phenomenal CAGR during the forecast period. Proliferation of consumer electronics, such as smartphones and tablets, in emerging economies is supplementing the regional growth . Some of the key companies in the market are Samsung Group, Panasonic Corp., GS Yuasa Corporation, LG Chem Ltd., and Hitachi Ltd.

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Solar Panel Recycling is Possible with Advanced Techniques

Solar panel recycling comprises reuse of various heavy materials obtained from previously installed Photo Voltaic (PV) solar panels. These materials include silicon, glass, and variety of metals. Several processes such as thermal, laser, and mechanical are used in waste solar panel treatment. Monocrystalline, thine film, and polycrystalline are the major types of solar panels.

High Efficient and Cost-effective Panels

In 2016, monocrystalline solar panel segment accounted for 51.4% of the total market share. These panels are widely utilized due to their extended shelf life and greater heat tolerance and efficiency. The product is extremely preferred by the consumers due to its high efficiency therefore accounted largest share.

In 2016, thin film segment was estimated at USD 7.6 million and is expected to show substantial growth over the forecast period (from 2018 to 2025) due to its diverse characteristics. These panels are lightweight and have several properties such as higher flexibility and temperature resistance. Cost-effectiveness of these solar panels makes mass production possible, which is also likely to drive the segment in the coming years.

Market Overview

According to Grand View Research, Inc., the solar panel recycling market is likely to achieve USD 384.4 million by 2025. Growing demand for renewable energy sources owing to its minimum environmental effect can propel the market. 

Rising number of installations of PV panels around the world is also likely to drive the market. Some of the leading companies in the market are Canadian Solar Inc.; Yingli Energy Co. Ltd; Silcontel; and First Solar.

French water and waste group Veolia has opened Europe's first recycling plant in Rousset, southern France, for solar panels and aims to build more in the years to come. The new plant has a contract with solar industry recycling organization, PV Cycle France, for recycling 1,300 tons of solar panels in 2018.

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Turning Heaps of Plastic into Resource with Waste to Diesel Method

Conventional waste management methods involve high cost. This along with soaring concerns regarding effectively disposing the mounting waste is impelling municipal bodies and governments worldwide to develop and encourage usage of cost-effective ways of waste management. In this scenario, waste to diesel is making its mark as an effective and inexpensive method of managing waste. The method has so far proved to be a great boon for urban areas as both waste management and fuel requirement are higher in these regions.

Municipal Waste to Remain at Forefront through 2025

Waste to oil is used as a method of producing diesel from municipal waste, plastic waste, and oil and fat waste. Municipal waste usually consists of unwanted wastes collected from industries, retailers, household, and agriculture through suppliers, garbage collectors, and transfer stations. In terms of source, this type of waste will continue to account for the largest share through 2025. Rising number of processing plants for municipal solid waste (MSW) is expected to contribute to the growth of the segment. Implementation of regulation for cost-effective recovery of waste materials and reduction of municipal waste is propelling the growth of the segment.

Companies providing technologies for waste to diesel are anticipated to capitalize on burgeoning heaps of plastics as well. For instance, Renewlogy, an Australia-based company that aims for a clean environment, by converting plastic waste into fuel such as off-road diesel. The company believes that with its technology it will be able to convert every 10 tons of plastic into about 2500 gallons of fuel. The growth of the plastic waste segment can be attributed to the increase in liquefaction facilities for the conversion of plastics into diesel.

Market Insights

A report by Grand View Research, Inc. indicates that the global waste to diesel market is estimated to reach a valuation of USD 942.78 million by 2025. Surging demand for fuel from various industries including transportation, construction, automotive, and aviation can help the market gain significant traction over the forecast period (from 2018 to 2025). Increasing utilization of diesel produced from waste in ships, diesel power generators, diesel boilers, construction machinery, and tractors and trucks will also boost the demand in the coming years.

Europe led the global market in 2016. Companies in the region are involved in extensive R&D to introduce innovative technologies, which is driving the market. Some of the key companies in the market are Foster Wheeler A.G.; Covanta Energy Corp.; Green Alliance; Plastic2Oil Inc.; and Klean Industries Inc.

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Power Plant Boiler for Generating Electricity

Power plant boiler is the machine that produces steam by applying heat energy to water thus, it is mostly used in the industries that require steam for different operations. Such boilers are available in different sizes as per applications, for example, boilers in power stations and other industrial installations are larger and are connected to the point-of-use (POU) piping. Fuels such as nuclear, petroleum, coal, natural gas, and renewables are used in the boiler for power generation while subcritical, supercritical, and ultra-critical are the major boiler technologies.

Innovative Technologies to Boost Product Demand

Subcritical is estimated to dominate the boiler technology segment over the forecast period (from 2018 to 2025). The subcritical technology segment is expected to account for 74 % of the overall industry share by 2025. This growth can be credited to the reliance on coal for power generation. Moreover, easy availability and low input costs are also expected to drive the segment in the coming years. The supercritical segment is expected to witness a high CAGR during the estimated period. The technology is efficient and quite popular, particularly in China and OECD countries.

China has increased its power generation capacity using supercritical technology. The region has 23 supercritical units that provides around 16-megawatt of power. The ultra-critical technology offers high efficiency of around 50 %, which is the highest among all the boiler technologies. It is utilized in 26 operating units in countries such as Japan, Germany, Denmark, the U.S., and Netherlands. However, the segment may witness a steady growth due to higher production costs of this technology.

Market Overview

According to a report by Grand View Research, Inc., the worldwide power plant boiler market is expected to reach at USD 28.0 billion by 2025. Rising requirement for electricity owing to the rapid industrialization and urbanization, especially in developing countries, can drive the market. In addition, increased government expenditure to establish new power plants and to upgrade the existing ones will also create new growth opportunities for the market.Prominent market players include Babcock & Wilcox Enterprises, General Electric (GE), Mitsubishi Heavy Industries Ltd., Siemens AG, and Dongfang Electric Corporation (DEC).

Most of these companies focus on R&D to develop innovative products. For instance, In 2017, Bosch industrial introduced the largest boiler of their portfolio at ESH Energy. The new double-flame tube boiler weighs up to 120 tons and has a height of six meters. It offers an output of up to 55000 kg of steam per hour and can be useful for large industrial companies and energy suppliers.

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Hybrid Power Solutions: Transforming the Energy Sector

Hybrid power solutions are designed in order to create electricity by combining different types of technologies. It uses renewable source of energy in combination with secondary sources such as diesel or fuel cell. Solar-diesel, wind-diesel, and solar-wind-diesel are the major types of these systems that are used in residential, commercial, and telecommunication sectors.

Commercial Sector to be the Largest Consumer

Hybrid power solutions have maximum demand from the commercial segment, which includes hospitals, schools, hotels, and resorts, situated at off-grid areas or islands. The segment accounted for the largest market share of 37.4 % in 2016 and is expected to grow at a CAGR of 9 % during the forecast period (from 2018 to 2025). The residential segment is also expected to grow significantly during the forecast period.

The power usage in residential applications is usually higher in the day time. However, diesel generators alone fail to satisfy the requirement in rural areas due to restrictions such as high fuel consumption and hybrid power systems enable over-night supply. This will create growth opportunities for these systems in rural residential areas augmenting the segment development. The telecom sector is developing at a greater pace all over the world, particularly in remote areas. This will increase the product demand for hybrid power systems in this segment.

Market Overview

According to Grand View Research, Inc.; the worldwide hybrid power solutions market is anticipated to reach at USD 1.35 billion by 2025. The market is expected to register a CAGR of 9.5 % during the forecast years. High demand for electricity due to growing population is the key factor driving this market. Rising awareness regarding global warming and stringent government guidelines for reducing CO2 emissions would also spur the market demand. Moreover, low operating and maintenance costs of these systems are also likely to have a positive impact on the market growth.

Some of the key players operating in the global market include Siemens AG; PFISTERER Holding AG; SMA Solar Technology AG; Alpha Power Solutions; and AEG Power Solutions. Product development and M&A are the key market strategies undertaken by the market pioneers. Off Grid Energy recently launched a portable power supply called Grid to Go. It can be used together with a generator in order to cut running hours and reduce fuel consumption. It can also be modified to optional features such as solar PV input, remote monitoring, and other customer specified features.

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Wind Turbine Operations and Maintenance to Become Safer with Introduction of Robotics

Components such as control systems, gears, electric systems, blades, rotors, generators, hydraulics, and sensors are integral parts of wind turbines and are susceptible to failure. Unexpected breakdown of turbine parts adversely affects productivity. Effective maintenance at regular periods of time helps curb failure rate and thus, enhance operational efficiency by reducing downtime.

What comprises ‘wind turbine operations and maintenance’?

Wind turbine operations and maintenance services include operation, troubleshoot, maintenance, and repair of wind turbines installed at wind farms. These services also consist of unscheduled maintenance, scheduled maintenance, remote monitoring, and asset administration. Generally, wind turbine manufacturers (mostly OEMs), independent service providers (ISPs), and in-house teams are involved in providing operations and maintenance services.

3M Partners with Santa Cruz to Use Drones for Wind Turbine Maintenance

Operations and maintenance of wind turbines involve high cost and risk. To address these issues, importance is being given to development of technologies that make wind turbine operations and maintenance safer and less costly. For instance, in August 2017, 3M teamed up with Santa Cruz to introduce small industrial robots mounted on drones that conduct routine inspections and maintenance of wind turbines. For the working, pilots with FAA-certificates will ensure safe flight perimeter and properly position the blades. After this, several specialized robots will conduct operations and maintenance with products by 3M.

Market Insights

Market growth can be largely attributed to widening capacity installations of wind energy. Increasing efforts to reduce dependence on fossil fuels are boosting adoption of renewable and clean energy sources such as wind energy. Conducive government policies and attractive incentives are encouraging development of wind farms across the globe, which in turn is likely to work in favor of the market. 

According to Grand View Research Inc., technological innovations and growing focus on establishing cost-effective operations and maintenance are estimated to propel the market over the coming years. On the flip side, sluggish growth in electric consumption worldwide can inhibit the growth of the market. 

Some of the key players in the market are GE Wind Turbine, Suzlon Group, Siemens Wind Power GmbH, Enercon GmbH, and Gamesa Corporation.

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Lithium Iron Phosphate (LiFePO4) - A Future Source for Green Energy

The rise in pollution has forced automobile manufacturers to look for alternative means to reduce carbon footprint. Power utilities and other manufacturers dependent on fossil fuels are looking for viable means to sustain their production. Lithium iron phosphate can be used in rechargeable batteries and for power backup.

Lithium Iron Phosphate (LiFePO4)

Lithium iron phosphate is used in many applications that require rapid charging. It is one of the raw materials used in lithium-ion batteries. It is highly preferred by energy generation and automobile sectors due to its high energy density. It can charge lithium-ion based products more rapidly than lithium cobalt oxide batteries. LiFePO4 has a higher installation cost but has higher efficiency and reliability than lead batteries.

The advancements in lithium-ion industry have led to different variations in the iron phosphate cathode which has a higher electric and thermal stability. Nanoparticles have been used to coat the cathode in Li-ion batteries to increase its capacity. The rise in environmental pollution and near-exhaustion of fossil fuels may lead to the adoption of lithium iron phosphate batteries for future applications.

Latest Developments

In January 2017, Intersil, a US based semiconductor company launched a 3.6V charger for the LiFePO4 batteries. It leaks low power and has a fold-back feature that can prevent overheating of the cells. It is used to charge eCell backup systems embedded in electric vehicles (EV). It can be useful in dire need of roadside assistance and other such emergencies.

The shortfall in battery manufacturers has led to strategic collaborations among major EV manufacturers to establish bigger battery manufacturing plants. For instance, Samsung SDI and Lucid Motors have partnered to kickstart such a plant to support the launch of the new EV by the latter.

Market Overview

The worldwide lithium iron phosphate (LiFePO4) material and battery market may attain USD 25.5 billion by 2025, according to Grand View Research, Inc. It is anticipated to display a CAGR close to 21% over the forecast period (2014 to 2025). The market is driven by high demand from consumer electronics and electric vehicles.

Graphite accounted nearly 27% market revenues in 2016. It is expected to exhibit a 26% CAGR over the forecast period. Electric & hybrid electric vehicles held nearly 58% market on account of revenue in 2016. Asia Pacific dominated the overall market in terms of demand during the same year owing to the presence of hybrid vehicle manufacturers. It is expected to grow at a 22% CAGR in the forthcoming years. Key market players are GAIA, BYD Co. Ltd., A123 Systems, LLC, and Optimum Nano Energy.

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Hydropower - A Clean Renewable Energy Source

Carbon emissions have increased alarmingly. This is evident from the sales of gas masks amid the smog crisis faced by China. In an attempt to control these emissions and reduce the dependence on fossil fuels, nations all over the world are stressing on the need for renewable energy sources. 

Hydropower - Insights

Hydropower is a technology that generates electricity through running water. It is produced by harnessing the movement of water as it flows through the turbines of dams. Hydropower accounted for about 20% of the global installed renewable capacity. This figure is expected to rise in the next 10 years owing to the construction of additional plants in India, Indonesia, and China.

There are three major hydropower technologies: Pumped Storage Plants (PSPs), run-of-river plants, and reservoir plants. PSPs use water pumped from a lower reservoir to the upper one. Key PSP plants are located in China, Indonesia, and Europe. Run-of-river plants gather energy from nearby ponds or streams. Reservoir plants rely on the water stored in dams & create electricity on demand.

Pros of Hydropower

Renewable: Hydroelectric energy derived from hydropower plants is renewable. It depends on the number of reservoirs where hydropower plants are built.

Reliable: Hydropower is trustworthy, with few fluctuations. Countries with access to large water resources can bank on hydropower plants for electricity.

Flexible: Water flow can be adjusted in dams according to the required power output. 

Cons of Hydropower

Climate Change: Hydropower plants are vulnerable to floods, droughts, or natural calamities. 

Environmental Effects: Plant constructions can have grave consequences on the surrounding habitat. They may also damage regional aquatic ecosystem. 

Latest Innovation

“Verdant Power” has planned to install 33-bladed electric turbines along the NY City’s East River by 2017. Each unit of these turbines would produce 35 kilowatts of electricity. If successful, the project can supply power to hundreds of households. Made of layered & plastic fiberglass, “East River” turbines are one of the latest trendsetters in the world of hydropower.  

Market - Outlook

The global hydropower market is estimated to generate 1.5 TWs (terawatts) by 2020. According to the “International Energy Agency,” hydropower can help avoid nearly 1 billion tons of CO2 emissions. Favorable policies supporting this technology and the demand for renewable energy in Brazil, India, & China are anticipated to spur market growth.

Industrial segment held the highest market share of 40% in 2012. Demand for these applications is anticipated to be 694.4 GW by 2020. Some of the major players in this market are China Three Gorges Corporation (CTGC), GE Energy, American Hydro Corporation, and Sinohydro Corporation. 

In-depth research report by Grand View Research, Inc. :

http://www.grandviewresearch.com/industry-analysis/hydropower-industry