Surging Infrastructural Development Fueling APAC Compressor Market Growth

The Asia-Pacific (APAC) compressor market attained a value of $19.9 billion in 2019, and it is predicted to advance at a CAGR of 3.2% between 2020 and 2030. Furthermore, the market will generate a revenue of $25.7 billion by 2030. The factors driving the market expansion are the expansion of the heating, ventilation, and air conditioning (HVAC) and automotive industries and the surging investments being made in infrastructural development and gas pipeline projects in the region.

The soaring infrastructure spending of several APAC countries such as India and China is fueling the growth of the market. For instance, China currently has many infrastructural projects in the pipeline, with the transportation sector being one of the major contributors. The country announced the launch of urban rail projects worth $43.3 billion (CNY 298 billion) in Shanghai in December 2018. Similarly, the Indian government has recently announced its decision of building 100 smart cities and renovating other 500 cities. 

Subsequently, the government announced a budget of $13.9 billion (INR 980 billion) for developing 100 cities and $6.8 billion (INR 480 billion) for renovating 500 others. The rapid expansion of the automotive industry is also propelling the advancement of the APAC compressor market. This is because compressors are increasingly being used in several applications throughout the automobile manufacturing process. Compressors are majorly used in tire inflation, engine construction, car painting, and air-conditioning systems in the automotive industry. 

As per reports, the automotive industry registered a growth of nearly 35%, in terms of vehicle sales, from 2012 to 2019 in China and around 22% in vehicle sales in India from 2012 to 2018. Depending on type, the APAC compressor market is bifurcated into positive displacement and dynamic. Between these, the positive displacement bifurcation held the larger share in the market in 2019, due to the extensive requirement for rotary type of compressors. 

Moreover, because of the surging usage of these compressors in several applications such as automotive, heating, ventilation, air conditioning, and refrigeration (HVAC-R), industrial manufacturing, power, construction, and food and beverage, the category is predicted to dominate the market in the forthcoming years. When application is taken into consideration, the market is categorized into power, construction, industrial manufacturing, HVAC-R, chemical and cement, oil and gas, automotive, food and beverage, textile, agriculture, research, and healthcare. 

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Surging Infrastructural Development Fueling APAC Compressor Market Growth

The Asia-Pacific (APAC) compressor market attained a value of $19.9 billion in 2019, and it is predicted to advance at a CAGR of 3.2% between 2020 and 2030. Furthermore, the market will generate a revenue of $25.7 billion by 2030. The factors driving the market expansion are the expansion of the heating, ventilation, and air conditioning (HVAC) and automotive industries and the surging investments being made in infrastructural development and gas pipeline projects in the region.

The soaring infrastructure spending of several APAC countries such as India and China is fueling the growth of the market. For instance, China currently has many infrastructural projects in the pipeline, with the transportation sector being one of the major contributors. The country announced the launch of urban rail projects worth $43.3 billion (CNY 298 billion) in Shanghai in December 2018. Similarly, the Indian government has recently announced its decision of building 100 smart cities and renovating other 500 cities. 

Subsequently, the government announced a budget of $13.9 billion (INR 980 billion) for developing 100 cities and $6.8 billion (INR 480 billion) for renovating 500 others. The rapid expansion of the automotive industry is also propelling the advancement of the APAC compressor market. This is because compressors are increasingly being used in several applications throughout the automobile manufacturing process. Compressors are majorly used in tire inflation, engine construction, car painting, and air-conditioning systems in the automotive industry. 

As per reports, the automotive industry registered a growth of nearly 35%, in terms of vehicle sales, from 2012 to 2019 in China and around 22% in vehicle sales in India from 2012 to 2018. Depending on type, the APAC compressor market is bifurcated into positive displacement and dynamic. Between these, the positive displacement bifurcation held the larger share in the market in 2019, due to the extensive requirement for rotary type of compressors. 

Moreover, because of the surging usage of these compressors in several applications such as automotive, heating, ventilation, air conditioning, and refrigeration (HVAC-R), industrial manufacturing, power, construction, and food and beverage, the category is predicted to dominate the market in the forthcoming years. When application is taken into consideration, the market is categorized into power, construction, industrial manufacturing, HVAC-R, chemical and cement, oil and gas, automotive, food and beverage, textile, agriculture, research, and healthcare. 

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E-Cigarette Sales Set to Shoot-Up in South Korea in Coming Years

 The South Korean e-cigarette market is projected to attain a revenue of $3.5 billion by 2024, increasing from $874.3 million in 2018, advancing at a 24.5% CAGR during the forecast period (2019–2024), according to a report by P&S Intelligence. The market is growing due to the increasing consciousness regarding health in the country, technological advancements in product design, and rising shift from conventional cigarettes to e-cigarettes. When gender is taken into consideration, the market is divided into female and male. 

Between the two, the male division dominated the market in the past, as the penetration of these products is significantly low among women in the country. The religious and conservative values that are followed in South Korea prohibit women from utilizing tobacco-based products. This being said, the increasing education level and swift urbanization are leading to changes in the situation. Enterprises have now started conducting targeted marketing campaigns for increasing the adoption of e-cigarettes among women. 

On the basis of distribution channel, the South Korean e-cigarette market is categorized into online, vape shops, tobacconist, hypermarket/supermarket, and others. Out of this, the online category is projected to witness considerable growth during the forecast period. At the present moment, other distribution are quite popular, however, the anticipated rise of tax on e-cigarettes is predicted to cause the shift towards online channels. Moreover, with the expanding e-commerce industry and rising penetration of internet, online channels have already started becoming popular among people. 

Regionally, Gyeonggi has been dominating the South Korean e-cigarette market in the past, owing to large-scale urbanization and infrastructural development in Seoul. Because of this, the disposable income of people has increased considerably. The household income of people, increased by approximately YoY growth rate of 8%, reaching $16,567.2 in 2018, from $15,335.4 in 2017. In addition to this, government’s clampdown on cigarettes is predicted to drive the demand for e-cigarettes in the region during the forecast period as well. 

The increasing shift from tobacco cigarettes to e-cigarettes is a key driving factor of the South Korean e-cigarette market. The awareness regarding the harmful impact of smoking is rapidly rising in the country, owing to which, people are either quitting or shifting to better alternatives, such as e-cigarettes. Attributed to this, manufacturers in the industry are increasingly focusing on diversifying their product portfolio. This is expected to result in the growth of the market in the years to come. 

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E-Cigarette Sales Set to Shoot-Up in South Korea in Coming Years

 The South Korean e-cigarette market is projected to attain a revenue of $3.5 billion by 2024, increasing from $874.3 million in 2018, advancing at a 24.5% CAGR during the forecast period (2019–2024), according to a report by P&S Intelligence. The market is growing due to the increasing consciousness regarding health in the country, technological advancements in product design, and rising shift from conventional cigarettes to e-cigarettes. When gender is taken into consideration, the market is divided into female and male. 

Between the two, the male division dominated the market in the past, as the penetration of these products is significantly low among women in the country. The religious and conservative values that are followed in South Korea prohibit women from utilizing tobacco-based products. This being said, the increasing education level and swift urbanization are leading to changes in the situation. Enterprises have now started conducting targeted marketing campaigns for increasing the adoption of e-cigarettes among women. 

On the basis of distribution channel, the South Korean e-cigarette market is categorized into online, vape shops, tobacconist, hypermarket/supermarket, and others. Out of this, the online category is projected to witness considerable growth during the forecast period. At the present moment, other distribution are quite popular, however, the anticipated rise of tax on e-cigarettes is predicted to cause the shift towards online channels. Moreover, with the expanding e-commerce industry and rising penetration of internet, online channels have already started becoming popular among people. 

Regionally, Gyeonggi has been dominating the South Korean e-cigarette market in the past, owing to large-scale urbanization and infrastructural development in Seoul. Because of this, the disposable income of people has increased considerably. The household income of people, increased by approximately YoY growth rate of 8%, reaching $16,567.2 in 2018, from $15,335.4 in 2017. In addition to this, government’s clampdown on cigarettes is predicted to drive the demand for e-cigarettes in the region during the forecast period as well. 

The increasing shift from tobacco cigarettes to e-cigarettes is a key driving factor of the South Korean e-cigarette market. The awareness regarding the harmful impact of smoking is rapidly rising in the country, owing to which, people are either quitting or shifting to better alternatives, such as e-cigarettes. Attributed to this, manufacturers in the industry are increasingly focusing on diversifying their product portfolio. This is expected to result in the growth of the market in the years to come. 

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Light Sensors Amplify Energy Efficiency in Smart Cities

 Light sensors are installed in consumer electronic devices like smartphones and tablets to control automatic screen brightness and other features, which require the light to be sensed. The adoption of these electronics will escalate, on account of high demand from young population, especially the millennials. With a boom in the world population, the penetration of these devices will increase in the future. Owing to this reason, the light sensor market will accelerate at 9.5% CAGR during 2020–2030. According to P&S Intelligence, the market generated $1,456.2 million revenue in 2019.

Additionally, the establishment of smart cities has amplified the usage of light sensors, globally. These townships have sensor-based lights, primarily for ambient light sensing, as the lights in these cities have to be energy efficient. Due to this reason, the lights will switch on or increase the brightness when it gets dark. Similarly, during the day time, the artificial lights will either switch off automatically or decrease their brightness, thereby conserving electricity. Moreover, construction of new smart cities in India, Brazil, and China will fuel the installation of light-sensing devices in the future. 

Apart from this, light sensors are also consumed in large quantity in the automobile industry. The automakers install these devices in the advanced driver assistance systems (ADAS) for park assist and to sense the light. Moreover, the integration of internet of things (IoT) technology in ADAS devices has led to the increased adoption of light sensors in these devices. Besides, the light sensing systems also find applications in the healthcare, industrial, and entertainment sectors.

In recent years, players in the light sensor market have started engaging in product launches to gain a competitive edge. For instance, ams AG launched a tiny digital proximity sensor module — TMD2635, in September 2019. Installation of this sensor gives freedom to manufacturers of true wireless stereo (TWS) devices, to develop lighter and smaller earbuds of industrial design. Further, the company also introduced an advanced spectral ambient light sensor — AS7350, in January 2020. It is also designed for high-end smartphones as it offers accurate light source identification.

Likewise, in January 2020, Vishay Intertechnology Inc. launched a line of integrated RGBC-IR color sensors that contain amplifiers, photodiodes, and analog/digital circuits. These devices can sense blue, green, red, and infrared (IR) light. Further, these color sensors can be used for color cast correction and automatic white point balancing in digital cameras, automatic liquid crystal display (LCD) backlight adjustment, and active monitoring of light-emitting diode (LED) color output in smart lighting and IoT devices. Other companies producing advanced light sensors include Sharp Corporation, Maxim Integrated Products Inc., Broadcom Inc., and STMicroelectronics N.V.

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Light Sensors Amplify Energy Efficiency in Smart Cities

 Light sensors are installed in consumer electronic devices like smartphones and tablets to control automatic screen brightness and other features, which require the light to be sensed. The adoption of these electronics will escalate, on account of high demand from young population, especially the millennials. With a boom in the world population, the penetration of these devices will increase in the future. Owing to this reason, the light sensor market will accelerate at 9.5% CAGR during 2020–2030. According to P&S Intelligence, the market generated $1,456.2 million revenue in 2019.

Additionally, the establishment of smart cities has amplified the usage of light sensors, globally. These townships have sensor-based lights, primarily for ambient light sensing, as the lights in these cities have to be energy efficient. Due to this reason, the lights will switch on or increase the brightness when it gets dark. Similarly, during the day time, the artificial lights will either switch off automatically or decrease their brightness, thereby conserving electricity. Moreover, construction of new smart cities in India, Brazil, and China will fuel the installation of light-sensing devices in the future. 

Apart from this, light sensors are also consumed in large quantity in the automobile industry. The automakers install these devices in the advanced driver assistance systems (ADAS) for park assist and to sense the light. Moreover, the integration of internet of things (IoT) technology in ADAS devices has led to the increased adoption of light sensors in these devices. Besides, the light sensing systems also find applications in the healthcare, industrial, and entertainment sectors.

In recent years, players in the light sensor market have started engaging in product launches to gain a competitive edge. For instance, ams AG launched a tiny digital proximity sensor module — TMD2635, in September 2019. Installation of this sensor gives freedom to manufacturers of true wireless stereo (TWS) devices, to develop lighter and smaller earbuds of industrial design. Further, the company also introduced an advanced spectral ambient light sensor — AS7350, in January 2020. It is also designed for high-end smartphones as it offers accurate light source identification.

Likewise, in January 2020, Vishay Intertechnology Inc. launched a line of integrated RGBC-IR color sensors that contain amplifiers, photodiodes, and analog/digital circuits. These devices can sense blue, green, red, and infrared (IR) light. Further, these color sensors can be used for color cast correction and automatic white point balancing in digital cameras, automatic liquid crystal display (LCD) backlight adjustment, and active monitoring of light-emitting diode (LED) color output in smart lighting and IoT devices. Other companies producing advanced light sensors include Sharp Corporation, Maxim Integrated Products Inc., Broadcom Inc., and STMicroelectronics N.V.

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How Is Electric Vehicle Adoption Propelling Charging Cables Sales?

 

According to the International Energy Agency (IEA), over 3.1 million electric vehicles (EVs) were sold in 2020, globally. Governments across the world are offering financial benefits, in the form of subsidies, tax exemptions, and incentives, to fuel the production and adoption of EVs. For instance, the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India)-II scheme was approved by the government of India in 2019 with an outlay of INR 10,000 crore. Around 86% of the fund has been allocated for demand incentives, to make EVs affordable in India.

The increasing preference for EVs can also be attributed to the rising concerns regarding air pollution. Due to the high EV sales, the EV charging cables market generated revenue of $250 million in 2020. Vehicular emissions are one of the leading causes of air pollution as it is caused due to the combustion of fossil fuels. The burning of non-renewable fuels, including diesel and gasoline, emits greenhouse gases (GHGs) in abundance. The adoption of EVs helps in curtailing air pollution as they can entirely remove tailpipe emissions.

The burgeoning number of EVs requires a strong charging infrastructure. As a result, governments are focusing on the installation of EV charging stations to promote the adoption of EVs, making huge investments for the same. Additionally, automobile companies are also installing EV chargers in private and public settings. According to the IEA, as of 2019, there were around 264,000 publicly accessible fast chargers across the world.

The power supply segment of the EV charging cables market is bifurcated into alternate current (AC) and direct current (DC). Of these, the AC category held the larger market share in 2020, and it is expected to continue its dominance throughout the forecast period (2021–2030). This can be ascribed to the escalating installation of EV charging stations in private settings, such as homes and offices. AC chargers are the more-common systems for charging as they can convert the power from AC to DC and then transfer it to the EV battery at a reasonable cost.

AC and DC chargers use straight and coiled cables for charging purposes. Of the two, straight cables were sold in a larger quantity than coiled cables in the past because of their lower maintenance requirement and costs and ease of installation. These cables are available in various lengths — up to 5 meters, 6 meters–10 meters, and above 10 meters. These cables are produced by Leoni AG, Chengdu Khons Technology Co. Ltd., BESEN-Group, General Cable Technologies Corporation, TE Connectivity Ltd., Dyden Corporation, PHOENIX CONTACT GmbH & Co. KG, Coroplast Group, and Aptiv plc.

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Mushrooming Geriatric Population Positively Impacting MRI System Sales

 The surging geriatric population in several countries is positively impacting the sales of MRI systems across the world. According to the 2017 World Population Ageing report published by the United Nations Department of Economic and Social Affairs (UNDESA), the global population of people in the age bracket- 60 years or above is rising rapidly. As geriatric patient care needs efficient management via cutting edge technologies, the soaring geriatric population is massively boosting the worldwide demand for MRI systems.

MRI also provides excellent characterization of various musculoskeletal diseases and is used for detecting suspected soft tissue invasion. Thus, due to the intensive patient care requirements of the geriatric population, numerous medical facilities and healthcare centers are increasingly incorporating technologically advanced and innovative radiology systems. This is, in turn, pushing up the sales of MRI systems all over the globe. Furthermore, numerous research and development (R&D) activities have caused huge innovations in MRI systems over the last few years.

Many MRI system manufacturing companies are increasingly focusing on developing multi-contract MRI scanners. For example, USFDA approval was given to the 7 T MRI system called Magnetom Terra manufactured by Siemens AG in October 2017. This system is recommended for patients having weights over 66 pounds and is used to examine the arms, legs, and the head (extremities). This way rapid advancements and innovations in MRI technology are resulting in the development of advanced and highly efficient MRI systems.

Due to the aforementioned factors, the global MRI systems market is predicted to register huge expansion in the coming years. Open and closed MRI are the main types of architecture used in MRI systems. Between these, the demand for open imaging systems will rise rapidly in the future years. Since the geriatric people are usually uncomfortable with long-duration MRI scanning procedures in closed settings, the popularity of open imaging systems will be very high in the future.

Ultra-high-field, low-to-mid-field, very-high-field, and high-field imaging systems are the most extensively used imaging systems around the world. Out of these, the sales of the high-field systems were observed to be the highest all over the world in the past years. This was because of the fact that the high-field imaging systems have faster imaging ability than the low-field strength systems and are mainly used to scan the chest and the abdomen. 

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How are Technological Advancements Driving Advanced Visualization Market?

 

According to the World Health Organization (WHO), every year, 17.9 million human deaths are caused by cardiovascular diseases and 9.6 million by cancer. Moreover, as per the Centers for Disease Control and Prevention (CDC), six in every 10 U.S. citizens have at least one chronic disease, while four in every 10 have at least two. Medical imaging has proven to be an extremely useful tool in diagnosing these and a lot of other diseases and disorders, which is why the volume of X-ray, magnetic resonance imaging (MRI), ultrasound, computed tomography (CT), and positron emission tomography (PET) scans is rising around the globe. With these technologies, doctors get a good look at tissues, bones, muscles, organs, blood vessels, glands, and lymph nodes. 

While, in many places, films are the preferred media for capturing and displaying the images, the preference for having them directly converted to a digital form, to be viewed with greater convenience on computer screens, is rapidly increasing. With the growing popularity of digital medical images, the procurement rate of picture archiving and communication systems (PACS) is also surging. Due to this factor, the advanced visualization market is projected to grow at a healthy rate in the coming years, as PACSs are essentially a storage system for medical images.

To achieve advanced visualization, which basically means to more-efficiently store, share, transfer, and interpret these images, for monitoring the human body in real time, an array of services, and hardware and software are required by medical settings. Of these, hardware and software currently see higher demand, on account of the rapid integration of these components by doctors, due to the rising awareness about the advantages of this technique. In the coming years, though the demand for hardware and software would still be higher, the faster growth in requirement will be witnessed by services, especially system implementation and technical training services.

Two types of advanced visualization solutions are offered by vendors — standalone workstation-based and enterprise-wide thin-client based. Of these, enterprise-wide thin client-based solutions have been more popular among the healthcare fraternity up till now. This has been a result of their higher data storage space, streamlined analysis, centralized post-processing mechanism, and better data transfer ability. Apart from all these, the advent of multi-user interfaces is another reason which would propel the requirement for enterprise-wide thin-client-based solutions faster than for standalone workstation-based variants in the years to come.

One of the major reasons behind the rising adoption of advanced visualization, apart from the increasing prevalence of chronic diseases, is the steady growth in the population of the elderly. According to the World Population Ageing 2019 report published by the United Nations, 703 million people fell in the age group of 65 and above that year, and by 2050, their number will rise to 1.5 billion. Along with being at a higher risk of chronic diseases, such people are also more prone to physical issues, such as broken bones, torn arteries and muscles, and atrophy. This is why the number of radiological scans done on this population is considerably higher than on people in other age groups.

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How is Rising Hospital-Acquired Infection Incidence Driving Disposable Medical Sensors Market?

 

The global population will increase from 7.7 billion currently to 9.7 billion by 2050, says the United Nations Department for Economic and Social Affairs (UNDESA), in its latest World Population Prospects report. With this, the hold of various chronic and acute diseases on the world is rising, as is of all other issues that can take someone to a doctor. With the growing demand for medical services, the number of hospitals and other healthcare settings is increasing. This is resulting in the surging requirement of various devices, instruments, and systems used at such places, as well as the individual components which make up such stuff, including sensors. 

Therefore, with the rising demand for healthcare, the disposable medical sensors market is advancing around the world. Accelerometers, biosensors, temperature sensors, pressure sensors, image sensors, and several other kinds of sensors are used in medical settings. Among these, the usage of image sensors is expected to increase the fastest in the years to come, because of the burgeoning adoption of complementary metal-oxide semiconductor (CMOS) image sensors with integrated functionality and high-performance attributes.

Diagnostic, imaging, therapeutic, and patient monitoring devices make use of disposable sensors. Among these, diagnostic devices themselves include blood glucose, human immunodeficiency virus (HIV), pregnancy, and drug and alcohol test trips. Due to the increasing incidence of diabetes, disposable sensors are integrated in the highest numbers in blood glucose monitors. According to the WHO, between 1980 and 2014, the number of diabetes patients increased from 108 million to 422 million. An important aspect of diabetes management is tracking the blood sugar levels, which is why blood glucose test strips are in high demand.

Due to their wide usage in such diagnostic devices, strip sensors witness the highest demand among all types of sensors, which also include wearable, implantable, invasive, and ingestible sensors. The major reason behind the usage of strip sensors for diagnostic applications is that they carry almost no chance of infections, offer fast results, and are extremely easy to use. Even the elderly can use them on their own, for instance, to test their blood sugar level, for calculating the units of insulin required. In the coming years, the demand for ingestible sensors will witness the sharpest rise, owing to the increasing preference for remote diagnostic imaging and patient monitoring services.

A major reason behind the rising requirement for disposable sensors is the high prevalence of hospital-acquired infections (HAI). As per the WHO, the prevalence of HAIs in developed countries can be as high as 12%; the European Centre for Disease Prevention and Control (ECDC) reports a 7.1% incident rate of such diseases in Europe. Reusable sensors have a higher chance of transmitting infections among patients, which, coupled with the stringent regulations imposed on the healthcare sector, pushes the sale of disposable sensors, which are discarded after a single use.

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What is Latest Trend in North American Defibrillators Market?

 One in every four deaths, i.e. 647,000 deaths in the U.S., are a result of cardiovascular diseases (CVD), according to the Centers for Disease Control and Prevention (CDC). If the heart is still beating, but in an arrhythmic pattern, a defibrillator is used to treat it. The device sends an electric shock, which neutralizes a large amount of the current coming from the heart’s natural pacemaker, to allow the sinoatrial node to resume its normal functioning. Arrhythmias can be fatal if not stopped immediately, especially ventricular fibrillation (v-fib), during which the body has no pulse.

Therefore, with the increasing CVD prevalence, the North American defibrillators market is projected to reach $8.1 billion by 2023 from $6.1 billion in 2017, at a CAGR of 4.9% during the forecast period (2018–2023). A major reason behind the increasing CVD prevalence is the swiftly surging geriatric population in the region. As per the Population Reference Bureau report published in 2018, the population of people in the age group of 65 and above in the U.S. is expected to increase to 98 million by 2060 from 46 million in 2014. Compared to younger people, the elderly are more susceptible to diseases, especially CVDs.

These devices come in two variants: external defibrillators and implantable cardioverter defibrillators (ICD). External ones are commonly seen at hospitals and operated by medical professionals, while ICDs are implanted inside the body, for regular cardiac care. Of these, ICDs have witnessed higher uptake, on account of the technological advancements in these instruments and rising incidence of sudden cardiac arrest (SCA). In the coming years, the external variants are predicted to witness a more rapidly increasing uptake.

A key trend in the region is itself the rising adoption of automated external defibrillators (AED). The government, at the national and state/province levels, is taking initiatives to install public-access defibrillators (PAD), which are mostly AEDs, for the use of general public, in situations of emergency. Areas which witness a high footfall, such as schools and colleges, train stations, airports, shopping centers, leisure centers, and malls, are being rapidly equipped with AEDs, so that if anyone suffers a heart issue, bystanders can use the device to restore their sinus rhythm, until medical help arrives.

For instance, the Sudden Cardiac Arrest Foundation funded several schools, under its You Can Save a Life at School AED Grant” program, to procure AEDs, in February 2016. AEDs are quite easy to use as they not only measure the voltage required to neutralize the abnormal current flowing through the heart, but also apply it themselves. On the contrary, manual defibrillators measure the voltage required, but the users have to turn the knobs on the device and apply it to the heart, through the paddles.

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Global Sales of Boilers to Climb in Coming Years

 

The increasing investments being made in the industrial sector in many countries, especially emerging economies such as India and China, are fueling the rapid growth of numerous industries such as the petrochemical industry in those countries. The boom of the industrial sector is a major factor responsible for the soaring requirement for boilers across the globe. Moreover, the growing requirement for energy efficient devices and systems is further pushing up the sales of boilers in several countries around the world.  

Besides the aforementioned factors, the flourishing food processing industry is also boosting the sales of boilers all over the globe. Moreover, the rising initiatives being taken by various governments for promoting the progress of the food processing industry are positively impacting the demand for boilers. For example, the Indian government is providing numerous tax incentives to the small and medium enterprises (SMEs) operating in the food processing industry for setting up plants and expanding their business operations, which is, in turn, propelling the requirement for boilers in the country.

Because of the above-mentioned reasons, the usage of boilers will increase tremendously in industries, which will, in turn, cause rapid expansion of the global boiler market in the future years. In simpler terms, a boiler is defined as a vessel, closed on all sides, in which water is first heated and then circulated, either as steam, superheated steam, or hot water for providing heating, electricity, or power. Water tube and fire tube are the most commonly used types of boilers all over the world. 

Between the two boiler variants, the usage of the fire tube boilers is presently being observed to be significantly higher mainly because of their lower initial costs, easier handling, and higher fuel efficiency. Furthermore, the fire tube boilers have numerous applications in multiple sectors, owing to which, the sales of these boilers are considerably higher than the water tube variants, which are mainly used in the applications requiring less capacity section boilers.

Commercial and industrial (C&I) and residential are the two major application areas of boilers. Of these, the utilization of the boilers is currently being observed to be higher in the C&I applications. This is ascribed to the large-scale usage of these systems in various industries such as food and beverages and chemical. On the other hand, the residential sector is witnessing soaring usage of these systems, primarily due to the rising concerns being raised over the increasing carbon emission levels and the ballooning need for energy-efficient space heating solutions. 

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With Decentralized Power Generation, Distributed Energy Generation Systems Helping Mitigate Power Losses and Carbon Emissions

 
With the air quality reaching hazardous levels and the carbon emissions rising at alarming rates in several countries, environmental conservation is rapidly becoming a priority for governments all over the world. As a result, they are increasingly taking various initiatives for raising public awareness about the environmental degradation caused due to the usage of fossil fuel-based power and promoting the adoption of renewable and green energy sources such as solar, hydro, biomass, and wind for electricity generation.

This drastic rise in the adoption of green technologies is massively fueling the surge in the demand for distributed energy generation systems across the world. This is mainly because these systems are highly eco-friendly and thus, majorly mitigate the carbon emissions released into the atmosphere during power production. Moreover, the decentralized operation provided by the distributed energy generation systems significantly reduce the power losses that usually occur during transmission from one place to another.

In addition to the aforementioned factors, the increasing prices of natural gas and the massive fluctuations in crude oil costs are fueling the sales of distributed energy generation systems across the globe. For example, crude oil costs increased to as much as $85/bbl in October 2018 and then fell down to $50/bbl in December 2018. Similarly, there are fluctuations in the prices of natural gas as well, with the costs rising tremendously in winters and reducing considerably in summers. 

The massive fluctuations in the prices of crude oil and natural gas are propelling the adoption of various renewable energy sources such as biomass, solar, and wind. Because of these reasons, the global distributed energy generation systems market is predicted to exhibit huge growth over the next few years. These systems include a wide array of storage, energy generation and monitoring, and control solutions such as combined power and heat, energy storage, distributed energy management systems, and power generation.

Wind turbine, solar photovoltaic, reciprocating engine, combined heat and power, fuel cell, and micro-turbine are the main types of technologies used in these energy generation systems. Amongst these, the adoption of wind turbine technology is currently observed to be significantly higher followed by the solar photovoltaic technology. Further, the popularity of the latter is rising rapidly on account of its reduced costs of installation, lower greenhouse gas emissions, and the provision of solar feed-in tariffs and government subsidies.

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Hydrogen Generation Methods Evolving with Eye on Carbon Emissions

 

In an article published in January 2019, the National Geographic Society had said that the levels of greenhouse gases (GHG) in the atmosphere are currently the highest in the past 800,000 years! This has drastically affected the global climate, which is visible in the erratic or unseasonal rainfall, snowfall in hot deserts, and a general increase in the temperature, known as global warming. Everybody now knows who is responsible for it…we, humans are. This is why efforts are now on to decrease the emission of GHGs, so that the air we breathe can be cleaned up.

This is one of the primary reasons for the growth of the hydrogen generation market, as analyzed by P&S Intelligence, a market research firm. Since much of the GHG emissions are attributed to the burning of crude oil-based fuels and coal, the demand for alternative fuels has been on a constant rise. Since the 1950s, hydrogen has been one of the key fuels for NASA’s space missions. Even more interesting is that the gas, along with oxygen, has been envisioned as a potential energy source since as early as the late 19th century!

Despite such an early emphasis on the use of hydrogen as a fuel, the dream has not been realized to its fullest potential because of the difficulty in obtaining the gas. Even though hydrogen is abundant on earth (water is two parts hydrogen and one part oxygen), it is rarely available in its elemental form, existing mostly as compounds. This is why hydrogen needs to be produced industrially, via a variety of processes, including partial oil oxidation, steam methane reforming, water electrolysis, and coal gasification.

As per the U.S. Department of Energy, more than 95% of the commercially viable hydrogen today is produced via the steam methane reforming process, wherein a hydrocarbon, most commonly methane, is reacted with high-pressure steam to produce hydrogen. This is where the problem lies; as per the International Energy Agency (IEA), the production of the fuel from hydrocarbons is responsible for 830 million tonnes of CO2 emissions each year. Hydrogen is only completely clean as long as it is produced cleanly.

This has put a strong focus on the production of low-carbon hydrogen, which is why the electrolysis capacity is being increased around the world. The IEA says that around the world, a 25.4-Megawatt (MW) electrolysis capacity was added in 2019. Such measures are being taken due to the rising popularity of hydrogen in various applications; till some time ago, the chemical and oil refining industries had been the largest consumers of this gas, whereas, now, the demand for it is also rising rapidly for transportation purposes.

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Why is Sales of Decorative Coatings Surging Rapidly in Asia-Pacific (APAC)?

 

Decorative coatings are applied on exterior and interior surfaces for enhancing the aesthetic appeal of the structure and also for providing a protective layer to the surface in order to protect it against fading, corrosion, moisture, bacteria, and ultraviolet (UV) radiation. These coatings posses various beneficial characteristics such as anti-slip, anti-microbial, fire-resistant, and anti-graffiti properties and are available in different colors for meeting the requirement of multiple sectors such as education, industrial, and healthcare. The demand for these coatings is surging rapidly, on account of the rising infrastructural development and construction activities across the globe.  

“According to the United Nations Department of Economic and Social Affairs (UNDESA), the population in the world is predicted to increase to 8.6 billion, 9.8 billion, and 11.2 billion by 2030, 2050, and 2100 respectively, with an addition of almost 83 million to the global population every year”. Furthermore, the increasing economic growth of many countries has caused a huge rise in the disposable income of people, which has subsequently led to a surge in renovation activities, which has, in turn, propelled the demand for decorative coatings all over the world.

Because of the above-mentione
d factors, the global decorative coating market will exhibit rapid growth in the coming years, as per the forecast of the market research firm, P&S Intelligence. The most commonly used types of decorative coatings are primer, enamel, and emulsion-based coatings. Amongst these, “the utilization of the emulsion-based coatings is currently the highest”, primarily because of the fact that these coatings are water-based and dry off in a shorter period of time than the other coatings. Additionally, the greater coverage area provided by these coatings makes them very popular all over the globe.  

These coatings are heavily used in both commercial and residential sectors. Between the two, “the usage of these coatings has been found to be higher in the residential applications till now”, mainly because of the increasing population levels in many countries around the world. Additionally, the soaring home ownership rates in several nations, on account of the rising per capita income of the people, is further bolstering the demand for decorative coatings throughout the world.

Acrylic, alkyd, epoxy, and polyurethane are the main types of resins used in the decorative coatings. Out of the different variants, “the acrylic ones are presently observing the highest demand across the world”. This is credited to the various beneficial characteristics provided by these resins to the coatings such as durability, strength, little odor, non-flammability, water solubility while being wet. In addition to this, the acrylic resins make the cleaning of the decorative coatings very easy and enhance their compatibility with various non-toxic thinning materials. 

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Why will Perovskite Solar Cell Market Demonstrate Huge Progress in North American Nations in Future?

 

Perovskites are basically a class of materials that have a similar structure and possess various characteristics such as magnetoresistance and superconductivity, owing to which, they are being increasingly used in solar cells for generating solar power. Furthermore, the perovskites-based solar cells offer greater convenience, in fabrication, and are available at much lower costs than the traditionally used solar cells. In addition to this, these solar cells provide excellent power conversion rates, which in turn, leads to higher efficiency in power generation. 

Besides the above-mentioned factors, the other reasons behind the soaring sales of perovskite solar cells (PSCs) are the surging awareness amongst the people about the various advantages offered by these cells over the conventionally used silicon photovoltaic (PV) systems and the rising number of research and development (R&D) activities being performed on PSCs. Moreover, the increasing popularity of solar energy is boosting the demand for affordable and efficient solar cells, which is in turn, propelling the growth of the global perovskite solar cell (PSC) market. 

Apart from solar panels, perovskite solar cells are majorly used in the applications pertaining to utilities, electronics, and smart glass. Out of these, the smart glass applications are expected to generate significant demand for perovskite solar cells in the coming years. This is predominantly attributed to the soaring utilization of the PSCs in glass windows, in order to generate electricity from the absorbed sunlight. According to Lance Wheeler, a solar energy expert working at the National Renewable Energy Laboratory in Colorado, the U.S., the glass windows of office and residential buildings have tremendous potential to create electricity.

In addition to being highly efficient, the other beneficial trait of the PSCs is their ability to be tuned in order to absorb light at specific frequencies. This tuning is done by altering the chemical recipe of the materials. This idea was put to practical use, when a team supervised by Richard Lunt, who is a chemical engineer in the Michigan State University, tuned the PSCs for developing an ultraviolet (UV)-absorbing perovskite-based solar window possessing a light-to-energy conversion efficiency of 0.5%.

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Surging Concerns Over Vehicular Emissions Driving Biodiesel Market Growth

 

Factors such as the escalating concerns over the rising greenhouse gas emissions and mounting need for
biodiesel-based fuel, owing to the environmental concerns associated with fossil fuel combustion, will steer the biodiesel market growth during the forecast period (2021–2030). According to P&S Intelligence, the market revenue reached around $39.0 billion in 2020. Besides, the soaring number of research and development (R&D) projects being launched in the renewable energy sector and rising number of government initiatives and regulations mandating the adoption of biodiesel will also facilitate the market growth in the upcoming years.

The soaring concerns being raised over carbon dioxide (CO2) and greenhouse gases, such as carbon monoxide (CO), hydrocarbons (HCs), and Nitrogen Oxides (NOx) emissions act as the key contributor to the market growth. Biodiesel emits 50% lesser greenhouse gases than conventional fuels and it is also free of aromatic and sulfur compounds. For instance, according to the U.S. Energy Information Administration (EIA) and the U.S. Environmental Protection Agency (EPA), in 2019, around 43 billion gallons of biodiesel were consumed in the U.S. 

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Why Are Asians Buying More Charcoal Briquettes than Ever?

 Food chains such as Pirates of Grill and Barbecue Nation are trending in India, as people here are rapidly getting drawn to barbecued and grilled food. The situation in other countries of Asia is similar, where citizens are taking up this kind of food more often than before. Such restaurants allow diners to see their food being grilled in front of their eyes, in a small pit built into the table itself. Moreover, live music, drinks, and the prospect of hanging out with friends at such restaurants are attracting a lot of youngsters.

This is one of the key reasons that P&S Intelligence says will help the Asian charcoal briquettes market reach $1,158.4 million by 2024 from $952.5 million in 2019, at a 6.2% CAGR between 2020 and 2024. Barbecue has, for long, been associated with the culinary culture of South Korea, Japan, and Australia, whereas the tandoor is, in a way, synonymous with Indian food. All these food traditions have majorly utilized coal till now, but with time, the awareness about the harms of burning this substance has risen massively. Charcoal is considered a cleaner fuel for the purpose, which is why it has started replacing coal.

India is presently the

largest Asian charcoal briquettes market because it is home to a number of producers, therefore accounts for a rather high-volume availability of the fuel. In 2018, 2,880.0 thousand tons of the fuel were produced in the country, says the Food and Agriculture Organization (FAO), which allowed for its easy availability in rural areas, where many people still do not have gas stoves and rely on charcoal for everyday cooking. Moreover, the fuel is also becoming popular for industrial usage in the country.

Here, charcoal briquettes are increasingly becoming preferred in the cement and steel industries, both of which are growing on account of the increasing construction activities. These sectors majorly utilize coconut shell charcoal briquettes, as they are less polluting than conventional charcoal and easily available and produce less ash. Owing to the strict environmental regulations on industries, conventional fuel such as coal is being replaced with these briquettes, especially in heaters and boilers. Another sector these briquettes are finding increasing usage in is silicon, owing to the rising demand for aluminum–silicon alloys in the country.

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Demand for Lactic Acid Projected to Increase in Asia-Pacific

 People nowadays are increasingly making use of cosmetic products, as the focus on physical appearance has risen significantly. The surging usage of social media platforms and increased standard of living is further contributing to the rising consciousness regarding physical appearance. Moreover, due to improved economic conditions, the disposable income of people has increased significantly, owing to which, they are able to afford pharmaceutical and cosmetic products. This expansion of the cosmetic industry is also resulting in the growing demand for raw materials that are used in the industry.  

One of such products is lactic acid, and it is utilized in the production of chemical peels, anti-aging products, and skin hydrating agents. The compound exists naturally in fluid and solid form. The acid is also produced commercially for application in a number of industries. Other than the cosmetic industry, lactic acid is also used for synthesizing lactic acid polymers, which are now being utilized as biodegradable plastics. It is due to such factors that the global lactic acid market is predicted to grow at a considerable pace in the near future.

Geographically, the Asia-Pacific region is expected to register considerable demand for the compound in the years to come, thereby emerging as the fastest-growing lactic acid market in the years to come. This is owing to the surging usage of lactic acid in various industrial applications. In addition to this, countries including China and India are rapidly emerging as major markets for food & beverage and healthcare products due to enhanced living standards. This is predicted to open up wide opportunities for the companies operating the domain. Apart from this, North America is expected to make the most use of lactic acid in the coming years, owing to the growth of the cosmetic industry. 

In conclusion, the demand for lactic acid is growing due to the expanding food & beverages and cosmetics industries.  

  

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Surge in Tourism and Construction Industries Driving Demand for Facility Management Services

The expansion of the construction, hospitality, and tourism industries is one of the major factors driving the demand for facility management services across the world. Furthermore, the rising urbanization rate, rapid economic progress, and the launch of smart city and infrastructural development projects by the governments of several countries are also pushing up the requirement for these services, as these services are heavily required by businesses and commercial establishments such as mega food parks, shopping malls, and special economic zones (SEZs) for catering to the needs of people.  

Additionally, the surging number of corporate offices and retail stores in several countries, on account of the economic growth and increasing industrialization and urbanization rates, is also fueling the demand for facility management services all over the world. Owing to the aforementioned factors, the facility management market is predicted to exhibit huge expansion in the coming years. Hard services and soft services are the two most widely used types of facility management services across the world. Between these, the demand for hard services is predicted to rise sharply in the coming years. 

Furthermore, many international companies are setting up their offices, service centers, and research and development facilities in the region, owing to the high growth potential there. This is subsequently pushing up the requirement for facility management services in the region. Cleaning, property, security, support, catering, and environmental management are the major facility management services used all over the world. Some of the major organizations operating in the facility management market are Imdaad LLC, Tenon FM, Compass Group, Jones Lang LaSalle, G4S plc, Emrill Services LLC, and EMCOR Group. 

Thus, it can be safely said that the demand for facility management services will surge sharply in the coming years, primarily because of the expansion of hospitality, tourism, and construction industries, rising urbanization and industrialization rates, and increasing number of retail stores and corporate offices across the world.  

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