Energy & Power

The global  power plant boiler market  is expected to reach USD 28.0 billion by 2025, according to a new report by Grand View Research, Inc. Rising demand for electricity is expected to propel the sector growth.  The global population is increasing at a robust pace and likely to reach 2.2 billion by 2050. Moreover, the increase in population has led to rapid urbanization, especially in the developing countries. As per the United Nations World Urbanization Prospects, it is estimated that the urban population, which was 30% of the global population in 1950, is projected to reach 66% by 2050. The growing urbanization has led to a rise in power consumption. To cope up with the rising power demand, governments across the world are on the lookout for various alternatives to boost power generation capacity. For instance, the government of India is offering power generation subsidiaries to operators to generate power through biogas. The government offers nearly USD 30 thousand per MW. T

The global  solar pumps market   is expected to reach USD 3,639.0 million by 2022, according to a new study by Grand View Research, Inc.  Strong shift in trend towards replacing diesel and electric pumps in order to reduce reliance on conventional energy is expected to drive the global solar pumps market. Increasing government support in the form of subsidies and tax benefits particularly in emerging markets of Asia Pacific and Africa is also expected to have a positive influence on the market growth over the forecast period. However, higher upfront investment cost compared to its conventional counterparts is expected to remain a barrier for market participants. DC surface suction pump was the largest product segment and accounted for 83.4% of the total market volume in 2014. Increasing micro-irrigation activities coupled with continuous & clean drinking water supply in remote places with irregular electric supply is expected to drive this segment over the forecast period. AC s

Global  wind power market  is expected to reach 760.35 GW by 2020 on account of increasing regulatory support from governments particularly in Europe in order to reduce carbon emissions. Furthermore, financial incentives and tax benefits in countries such as U.K., Italy, Brazil, Spain, U.S. and China have fuelled growth leading to a significant market share in overall electricity generation. Industrial applications accounted for more than 40% of the total market in 2014 and hence dominated the global market. In addition, industrial application is expected to witness fastest growth, growing at over 13% CAGR from 2015 to 2022. Rising energy needs in countries such as China, Brazil and India, owing to rapid industrialization is expected to have a positive impact on wind power generation industry. Wind power finds extensive use in various sectors including commercial heating/lighting applications and residential. Europe had a cumulative installed capacity of 130.85 GW in 2014 and w

The global  oil storage market  is expected to reach 2.16 billion cubic meters by 2025, according to a new report by Grand View Research, Inc. Ongoing revisions in energy security policies and guidelines issued by International Energy Agency (IEA) has urged its member countries to adhere to minimum oil stockholding rule. U.S. Oil Storage Market Volume By Product, 2014 - 2025 (Million Cubic Meters) Currently, India, Australia, and Japan are the major countries with ample projects for enhancing their Strategic Petroleum Reserve capacities over the next few years. Other countries, such as Malaysia, China, and the UAE have adopted various measures to expand the commercial and non-commercial storage tank facilities to ensure a consistent supply for the downstream sectors in the respective regions. Asia Pacific is anticipated to emerge as the fastest growing regional segment and account for over 19.5% by 2025. In addition to regulatory norms, technological advancement is further an