The global shale gas market size is expected to reach USD 131.1 billion by 2027, ascending at a CAGR of 8.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for cleaner combustion energy sources in several end-use applications is likely to drive the market over the forecast period.
Profitable production of shale gas, a natural gas trapped in shale formations, relies on accessible demand for it. It has technical characteristics that make it a very useful and flexible fuel, where the delivery infrastructure exists, and it has found uses in the building thermal sector, industrial thermal sector, and power generation. Recent macroeconomic shifts along with fuel supply competitive dynamics have caused the proportions to favor shale gas usage in power generation more and industrial usage less.
Shale gas contributes substantial energy to electricity generation and second only to coal in terms of the share of energy supply in global electricity generation. This share is expected to grow over the next few decades in response to the economic and environmental limits of coal generation, at least where natural gas is a viable alternative. This end-use application is expected to drive the market over the forecast period.
The shale gas supply chain includes production and processing, gas transmission and storage, and distribution to city gate, large volume customers, residential customers, and commercial customers. Development of hydraulic fracturing technology along with horizontal drilling technique is expected to boost economical production of shale gas, thereby strengthening the upstream segment of the supply chain.
North America occupied the largest market revenue share in 2019, with U.S. being the major contributor to the regional market. Abundant shale gas reserves along with development of advanced drilling technology are among the key factors influencing industry growth
Potential shale gas resources in China are attracting huge investments from major market players all over the world in order to extract and produce unconventional gas from the reserves
The power generation segment occupied the largest market share of 36.1% in 2019 owing to growing demand of natural gas in coal-to-gas electricity generation plants
The transportation sector is estimated to witness a significant CAGR owing to increasing number of Compressed Natural Gas (CNG) fueled vehicles across the automotive industry.
Coal Bed Methane is an unconventional form of natural gas which is found in coal seams or coal deposits. It is also known as coal seam gas, virgin coal seam methane, or ‘sweet gas’, owing to a lack of hydrogen sulfide. There are different methods of recovering CBM, making it a very stable source of energy. Drilling cost is the major contributor to the overall production cost. Electricity cost, machine maintenance cost and operational costs also contribute to the total cost of production. The leading application area is power generation.
Natural gas is one of the most rapidly growing forms of energy and has made its presence felt significantly in the global energy market. It has been rapidly catching up with crude oil as a fuel alternative because of its cleaner existence. Natural gas has been able to successfully penetrate the transportation and domestic application markets, thus helping it evolve as the primary global fuel. However, there has been an increased emphasis on the usage of unconventional natural gas sources such as shale gas, tight gas, methane hydrates and CBM owing to the depletion of conventional natural gas reserves.
However, the market is also not without its challenges. The dewatering of a CBM well consumes a lot of time, increasing the overall cost of its development which is a major challenge to this market. The Chinese market has not reached its full potential owing to myriad issues ranging from geological conditions, to conflicting mining rights, to insufficient subsidies and difficulties faced in attracting private capital. Also, doubts still persist regarding the quality, quantity and dispersal of the water from the coal seams.
The U.S. dominates global production, followed by Canada. The Asia Pacific region is expected to be one of the fastest growing markets in the near future owing to an increase in drilling activities, primarily in coal rich countries such as India, Australia, China and Indonesia. In Europe, the United Kingdom also has gathered pace in extraction activities of coal bed methane. Australia has been a major contributor to the market, with coal seam gas exploration a thriving activity, and the industry is aggressively expanding in the New South Wales (NSW) region. Bowen basin, Surat basin and Sydney basin are some of the well-known sites for coal seam gas exploration. India and China are especially showing good promise in terms of coal bed methane reserves and their exploration.
Coal Bed Methane production is expected to be driven by increasing exploration and extraction on a global scale over the next few years.
Methane emissions that result from conventional fuel and coal mining are reduced in this case, thus driving the market.
Governments provide tax incentives to companies undertaking this operation, which again is a big driving factor. CBM is also priced lower than other unconventional natural gases, increasing its market attractiveness.
Growing demand for sustainable fuel in the country in order to reduce reliance on conventional sources of natural gas is expected to be the key driving force for the North American market.
Growing GDP in Asia-Pacific is responsible for the increasing energy demand in the region, with China, India and Indonesia being the prime contributors. Companies have been attracted to invest in this region due to the huge amount of unproven reserves of Coal Bed Methane in these countries.
The global electrostatic precipitator market size is projected to be valued at USD 14.97 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.3% over the forecast period. Rising consumer awareness, inclination towards healthy lifestyle, and rise in air pollution are expected to drive the market growth.
Rising adoption of air pollution control equipment, coupled with stringent government regulations, is expected to boost the global electrostatic precipitator market by 2025. Industrialization of energy and manufacturing industries is predicted to further enhance business growth over the forecast period.
Increasing investments and technological advancements are expected to encourage expansion of the market for electrostatic precipitator in the forthcoming years. Critical air pollution level caused by vehicles and industries coupled with high demand for pollution controlling equipment in developing countries such as India and China are anticipated to spur market growth over the forecast period.
The power generation segment is expected to expand at a CAGR of 4.2% over the forecast period. High dependency on electricity in automotive backed up with industrial automation is expected to boosts demand for power generation application in near future. Power generation industry has witnessed drastic change in processes as majority of the industrial players opted for renewable energy sources such as wind, natural gas, solar etc.
In terms of technology, the dry type electrostatic precipitator was valued at USD 9.66 billion in 2017 and is predicted to witness robust growth over the forecast period. High adoption coupled with government policies and regulations is projected to encourage market growth over the forecast period.
The U.S. electrostatic precipitator market revenue is projected to expand at a 2.2% CAGR over the forecast period owing to stringent governmental policies along with rise in demand for air pollution control equipment
U.K., in terms of revenue, is projected to register a 1.8% CAGR over the forecast period
Growth in the India market can be attributed to rapid pace of industrialization, rising air pollution levels, and evolving regulatory framework.
The global biodiesel market is expected to reach USD 54.8 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness growth at 7.3% CAGR owing to increasing demand for biodiesel as automobile fuel owing to their environment friendly characteristic to mitigate greenhouse gas emission is expected to propel industry growth.
The industry is characterized by the presence of several players, with the majority of them are established in the Europe and North America. The industry is undersupplied in the majority of the regions owing to the insufficient production capacities as compared to the demand. The industry players are adopting integration strategies in order to reduce their dependency on the raw material suppliers and strengthen their position in the global market.
Positive government outlook to support biofuel sector in emerging markets including India, Argentina and Colombia coupled with the introduction of biofuel mandates across the globe is expected propel growth. High demand for the major raw materials such as soybean, palm and corn are expected to hamper feedstock availability, thus impacting the growth. However, increasing investments in R&D to use innovative feedstock raw materials including algae, animal fat and UCO is likely to drive growth.
Europe dominated the biodiesel industry in 2016, accounting for 40.7% of the global production owing to early product adoption, high investments in R&D and positive
The demand for biodiesel is primarily driven by automotive application segment replace fossil fuel, and the same is expected to grow at a CAGR of 5.1% from 2017 to 2025. Selection of raw material varies dramatically from region to region based on the raw material availability and cost associated with this feedstock
Soybean was the major feedstock for the product in the North America accounting over 45% of the overall product, wherein rapeseed dominated the European biodiesel market with a share of over 50%
Central & South America and Asia Pacific are expected to emerge as major exporters for the product owing to the lower production cost and abundant raw material availability in these regions
Demand-supply gap in the industry is expected to open new avenues for the industry players in terms of new plant setups and capacity expansions. Capital investment and technology know-how are expected to be the key barriers for the new industry players in order to compete with the existing manufacturers
The major players in the industry include FutureFuel Corporation, Manuelita S.A., Archer Daniels Midland Company (ADM), Bunge Limited, Cargill, Inc., and Neste Oyj
The global flow meters market size is estimated to reach USD 11.1 billion by 2025, expanding at a CAGR of 6.0% from 2019 to 2025, according to the new report conducted by Grand View Research, Inc. The penetration of IoT, which has helped the evolution of smart flow rate measurement solutions, is expected to spur the overall market growth over the forecast period. The adoption of the measuring device is expected to increase as they are continually being improved by leveraging the state-of-the-art technologies such as cloud, remote control, automatic meter reading, and so on, which enhances the efficiency and reliability of the measuring device.
The market has been segmented into product, application, and geography. Based on products, the market is segregated into differential pressure (DP), pressure displacement (PD), magnetic, ultrasonic, Coriolis, turbine, vortex, and others (variable area, multiphase, thermal, and others). The magnetic segment holds the largest share of the market. However, the ultrasonic and Coriolis segments are expected to grow at a high rate over the forecast period.
Coriolis flow meters enhance the reliability, accuracy, and efficiency of liquid flow rate measurement. Furthermore, the integration of IoT in flow rate measurement solutions has helped transform Coriolis meters into intelligent flow meters. Hence, the adoption of Coriolis flowmeters is expected to grow significantly over the forecast period. The extensive adoption of Coriolis flowmeters by the oil and gas, chemicals, and refinery sectors is projected to drive the growth of the overall product segment over the next six years.
The oil and gas application segment is expected to witness robust growth over the forecast period owing to the extensive growth of the industry. Water and wastewater will witness a high CAGR owing to the rapid urbanization, particularly in the Asia Pacific, South America, and Africa. These regions would aggressively adopt efficient solutions for the treatment, control, monitoring, and regulation of water supplies and management of wastewater, thereby triggering the demand for advanced measurement solutions and instruments.
The regional market is segmented by the regions such as North America, Asia Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA). The European region held the largest market share in 2018 and will continue to dominate the flow meter market over the forecast period. Europe is home to several manufacturers and product innovators of flow rate measurement solutions and services, including flow meters. However, the APAC segment is expected to witness the highest growth rate over the forecast period owing to the increasing need for adequate power generation and efficient water and wastewater management in the region.
While emerging economies in Asia Pacific, such as China, India, and other South East Asian nations, are industrializing rapidly, the regional manufacturers and providers of flow rate measurement solution are striking collaboration and forming partnerships with global players as part of their efforts to cash in the opportunities prevailing in the regional as well as the global markets. The regional players are also improving their consumer engagement activities and enhancing their portfolio of products and services. The market size in India is on the verge of significant boost over the coming six years on account of rapid urbanization and growing industrialization of the country. As the need for water and wastewater management is projected to increase, notably in India and other South East Asian countries, the product demand is projected to witness elevated growth over the estimated duration.
General Electric (U.S.), ABB (Switzerland), Emerson Electric Co. (U.S.), Yokogawa Electric Corporation (Japan), and Hitachi Ltd. (Japan) are some of the eminent providers and vendors of the market. These market incumbents, along with other peers, are constantly emphasizing on product innovation and enhancing the products and solutions portfolio. They have realized the lucrative opportunities the oil and gas, petroleum, chemicals, and water and wastewater management sectors can particularly offer and are hence targeting these sectors.
Oil and gas application segment is likely to emerge as the prominent segment over the forecast period
The flow rate measurement companies in countries of the Middle East, such as Iran, Iraq, and Syria, are highly vulnerable to political instability
The market players, in other countries of the Middle East, such as the UAE, Saudi Arabia, Oman, and Qatar, are actively focusing on expanding by establishing friendly relations with eminent manufacturers in Western countries
Demand for flow meters is expected to grow over the forecast period on account of the integration of IoT in flow meters, which has led to the introduction of smart flow rate measurement solutions
Custody-transfer application in the oil and gas sector is one of the key applications creating lucrative opportunities for the ultrasonic and Coriolis flowmeters and leading to the adoption of smart flow meters
Asia Pacific region is expected to grow at the highest rate over the forecast period owing to the substantial demand and adoption of the meters in various application sectors, particularly in China, India, and South East Asian countries
The market in India is projected to portray lucrative opportunities to the flow meters in the coming future owing to the growing urbanization and industrialization, which is creating the necessity for water and wastewater management intensively
Key industry participants in flow meter market are ABB (Switzerland), Emerson Electric Co. (U.S.), General Electric (U.S.), KROHNE Messtechnik (Germany), Höntzsch GmbH (Germany), Siemens (Germany), Hitachi, Ltd., and Yokogawa Electric Corporation (Japan).
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