Why Is Geothermal Energy Being Preferred To Produce Electricity?

To harness the potential of geothermal energy for generating electricity, the International Renewable Energy Agency (IRENA) is working in coordination with the Global Geothermal Alliance (GGA). GGA is a global platform that was created at the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) in December 2015. GGA aspires to increase the installed capacity of geothermal power generation by five times and double the geothermal heating capacity by 2030. It also serves as a platform for co-operation, dialogue, and coordinated action between policymakers and geothermal industry stakeholders globally.

Due to this strong support from international organizations and increasing focus of governments on energy security and energy independence, the installed capacity of geothermal plants has increased globally, from 9,9992 Megawatts (MW) in 2010 to 13,909 MW in 2019, as per IRENA. Because of this growth, the geothermal power market will advance at a CAGR of 11.6% during 2016–2022, which will take the market revenue from $3,233.5 million in 2015 to $6,518.9 million by 2022.

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Globally, the Asia-Pacific (APAC) geothermal power market installed the largest capacity of geothermal power plants in 2015 to meet the growing demand for energy in the region. Three of the world’s largest geothermal power producers — the Philippines, Indonesia, and New Zealand — are in APAC. Additionally, P&S Intelligence projects that the region will lead the industry in the foreseeable future due to the increasing focus of the government on exploring the potential of geothermal energy, reducing the dependence on fossil fuels, and meeting the increasing demand for energy, by optimizing non-conventional sources.

Thus, the growing focus on renewable sources of energy and increasing support from governments and international organizations will lead to the widespread adoption of geothermal energy worldwide.

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Rising Incidence of Piracy Fueling Expansion of Global Coding and Marking Systems Market

The global coding and marking systems market generated a revenue of $3,832.4 million in 2019 and is predicted to attain a valuation of $7,469.6 million by 2030. Furthermore, the market would advance at a CAGR of 6.4% between 2020 and 2030. The surging requirement for coding and marking systems in the automotive industry and the soaring applications of these systems in the food & beverage industry are the main growth drivers of the market.

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The mushrooming requirement for coding and marking systems in the pharmaceutical, cosmetic, and food & beverage industries is one of the major factors fueling the expansion of the coding and marking systems market across the world. The growing sales of bottled water, packaged food items, dairy products, and fruit juices are propelling the advancement of the packaged food & beverage industry. Similarly, the rising popularity of pharmaceutical packaging is also driving the demand for coding and marking systems.

Globally, the coding and marking systems market would exhibit the highest CAGR in the Asia-Pacific (APAC) region in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This would be a result of the implementation of stringent government regulations and policies, the soaring export of various packaged food products, and the growing incidence of piracy and counterfeiting in several industries in the regional countries.

Hence, it can be safely concluded that the market will record substantial growth all over the world in the upcoming years, mainly because of the rising requirement for marking and coding systems in the packaging, pharmaceutical, and automotive industries and the growing incidence of counterfeiting around the world.

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What Will Drive Qatar Facility Management Market Growth in Future?

The Qatar National Vision 2030 and the upcoming FIFA World Cup 2022 in the country are the key factors predicted to increase the revenue of the Qatar facility management market from $4,613.0 million in 2019 to $21,975.1 million by 2030, at a CAGR of 16.4% during the forecast period (2020–2030). Moreover, this growing market is currently witnessing the rising awareness regarding the protection of assets and increasing infrastructural development in the country.

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One of the prime factors behind the growth of the market is the upcoming FIFA World Cup 2022, which is to be held in the country. The overall expenditure on infrastructure projects to host the World Cup is estimated at around $220 billion. For instance, the country has planned to build a 40,000-seat modular arena having concession stands, comfortable seats, shops, bathrooms, and other necessary facilities. Many such developments are expected to take place in the coming years; thus, the upcoming event will drive the need for facility management services.

Players operating in the Qatar facility management market include AKTOR Qatar W.L.L., COMO Facilities Management Services, Darwish Interserve Facilities Management W.L.L., Cayan Facility Management, OCS Qatar L.L.C., Confident Enterprises W.L.L., Al Tamyoz Business Group, and CBM Qatar L.L.C. To edge out the competition, these companies are focusing strongly on winning contracts. For instance, AKTOR Qatar W.L.L. and COMO Facility Management Services secured a 20-year facility service contract from Doha Metro in November 2019. They would offer maintenance services at the 100-km Doha Metro network, which includes a tram network, three depots, and 37 underground stations.

Thus, the upcoming FIFA World Cup 2022 in Qatar and the Qatar National Vision 2030 will propel the market growth during the forecast period.

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Why Is Charcoal More Popular than Other Fuels in Philippines?

Being a developing country, the Philippines relies on easily available products for everyday use. One of the most essential products that have been deeply integrated into the country’s life and culture is charcoal. People in the country find it cost-effect to procure charcoal over other energy resources, such as oil and gas, which is why it finds heavy usage in low-income as well as middle-income households. The reason behind the cost-effectiveness of the fuel is the ready availability of the raw materials used to produce it, especially coconut shells and wood.

P&S Intelligence says that due to this factor, the Philippines charcoal market will grow from $500.0 million in 2019 to $688.2 million by 2030, at a 2.9% CAGR during the forecast period (2020–2030). The fuel is made by burning organic matter, such as wood and coconut shell, in the absence of oxygen. Compared to burning wood and coal to produce energy, the combustion of charcoal releases no ash and extremely low amounts of smoke and carbon emissions, which is why this fuel is considered an environment-friendly alternative.

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The Philippines charcoal market is highly fragmented in nature, as there are a large number of small-scale producers in the country. Often, people produce the charcoal and then consume it themselves, and this is the way most of the fuel in the country is produced. Even the marketing and sales of the products are majorly conducted via unregulated channels. The country is home to only a handful of large-large scale industry players, which include Cenapro Inc., BF Industries Inc., Celebes Agricultural Corporation, Jacobi Group, MacKay Green Energy Inc., GCF Multi Products Development Corporation, and Premium A.C. Corporation.

Therefore, with the increasing application areas of the fuel, its production and consumption are set to increase in the country.

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Industrial Gases Market To Grow at CAGR of 5.5% during 2020–2030

The industrial gases market valued $92,392.4 million in 2019, and it is set to grow at a CAGR of 5.5% during the forecast period of 2020–2030, to reach $154,079.5 million by 2030. The increase in the revenue can be attributed to the diversified application of gases in industries, numerous government initiatives to shift toward alternative energy sources, and development of the healthcare infrastructure. Additionally, the prosperity of the food processing industry will contribute to the market growth in the future.

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In the food and beverage industry, gases find application in the production of decaffeinated coffee and carbonating beer and soft drinks. Apart from the food processing sector, gases are widely used in sectors such as electronics, healthcare, chemicals, heavy metal, and petroleum. For instance, the heavy metal industry employs acetylene for the oxy-acetylene flame to cut and weld metals. In addition, hydrogen is used in large volumes to manufacture chemicals and refine petroleum. The expansion in all these sectors is, therefore, expected to drive the industrial gases market growth.

Geographically, the Asia-Pacific (APAC) industrial gases market generated the highest revenue in 2019, and it will continue to do so during the forecast period. The rising number of production units in South Korea, India, Japan, and China due to cheap labor, flexible environment laws, and increasing demand for end products is driving the market growth. For instance, the manufacturing sector of China and Japan stood at $4.0 trillion and $1.0 trillion, respectively, during 2018–2019, which reflects the consumption of numerous gases in huge volumes.

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In addition to the largest share, the APAC industrial gases market will grow the fastest during the forecast period. It can be attributed to the surge in the population and increase in the purchasing power of the people in the region. The shift of manufacturing units from Western countries to the APAC region due to the increasing demand for end-use products in the latter will also add to the fast-paced growth of the market, as will the surging expenditure on healthcare in the emerging nations of the region.

Therefore, the growing number of production units, to cater to the demand for the end-use products, will lead to the rising consumption of gases in factories.

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Major Revenue Growth Expected in U.S. Shower Glass Door Market Between 2020 and 2030

In 2019, the U.S. shower glass door market reached a value of $3,188.3 million and is predicted to generate revenue of $6,781.9 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market would progress at a CAGR of 7.5% during 2020—2030. The major factors propelling the growth of the market are the rapid urbanization in the metropolises and the boom of the real estate and tourism and hospitality industries in the country.

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The increasing urbanization in the country is a major factor fueling the growth of the U.S. shower glass door market. As per many reports, the urban population is registering a faster growth rate than the rural one. As per the 2018 Revision of World Urbanization Prospects by the United Nations Department of Economic and Social Affairs (UNDESA), by 2050, nearly 68% of the global population is predicted to reside in urban areas.

Across the globe, North America is the most heavily urbanized region, with as much as 82% of the population there living in cities and towns. Moreover, the region will witness large-scale urbanization in the future years as well. This will lead to huge investments in various infrastructural development projects such as those including residential, industrial, and commercial facilities. This will subsequently boost the advancement of the U.S. shower glass door market in the coming years.

Hence, it is safe to say that the market would demonstrate huge expansion in the forthcoming years, primarily because of the surging urban population, rapid urbanization, and the increasing construction and infrastructural development activities in the country. 

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Demand for Incorporation of AI in Agriculture Set to Boom in Asia-Pacific in Future

Globally, the AI in agriculture market will demonstrate the highest growth rate in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of P&S Intelligence, a market research firm based in India. The rate of usage of smart agriculture methods such as agricultural robots, precision farming, and drone analytics is predicted to increase sharply, especially in the developing nations such as Thailand, Indonesia, and China in the future years.

Depending on type, the AI in agriculture market is divided into service and product. Between these, the product category recorded higher growth in the market in the past years. Moreover, in the near future, the mushrooming utilization of AI-based software would propel the market advancement across the globe. This category is further classified into software and hardware, between which, the hardware division registered higher growth in the market in the past. 

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The rising requirement for higher crop yield and agricultural produce, on account of the increasing disposable income of people in several countries such as India, China, Brazil, and the U.S., changing consumer preferences, surging population, and rapid urbanization, is pushing up the demand for the incorporation of artificial intelligence (AI) in agriculture.

Moreover, due to the growing demand for food products, major agricultural nations are increasingly leveraging AI solutions and systems for increasing the agricultural productivity. This market research report provides a comprehensive overview of the AI in agriculture market

• Historical and the present size of the AI in agriculture market
• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential

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