How Are Diesel Genset Manufacturers in U.S. Responding to Strict Emission Norms?

The U.S. is one of the most technologically advanced countries on earth, evident in the high usage of edge computing, the internet of things (IoT), and 5G connectivity. All these technologies are leading to the rising data traffic, which, in turn, is creating a high demand for additional storage space. As a result, data centers are being constructed around the country to help people cost-effectively store and manage their digital data.

P&S Intelligence says that due to the rising number of data centers, the United States diesel genset market will grow at a 7.2% CAGR between 2020 and 2030 (forecast period), to reach $3,797.6 million by 2030 from $2,187.4 million in 2019. This is because data centers have several systems, such as servers, internet routers, heating, ventilation, and air conditioning (HVAC) equipment, and security and backup devices, that cannot tolerate voltage spikes. Further, even a short power cut can disrupt data traffic, which is why a continuous power supply at a constant voltage is imperative at data centers.

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The major trend in the U.S. diesel genset market is the introduction of technologically enhanced variants. In 2015, the U.S. Environmental Protection Agency (EPA) implemented the Tier 4 exhaust emission standards for non-road engines, citing the carcinogenic nature of such machines and the greenhouse gases (GHGs) emitted by them. This move fueled the race among genset manufacturers, especially Cummins Inc., Caterpillar Inc., and Atlas Copco Construction Equipment North America, to unveil next-generation variants that, apart from complying with these standards, are also reliable and durable.

Therefore, with the increasing construction activities and instances of power outages, the sales of diesel gensets will rise in the U.S.

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Endoscope Market Upcoming Future Growth and Opportunities with Dazzling Key players

The global endoscopy devices market is growing significantly due to widening application of endoscopes, increasing popularity of minimally invasive surgery and technological advancement in the industry. The need of minimally invasive procedure is considerably increasing in the market, owing to decreased risk of blood loss and infection during the surgery, smaller scar on the body, cost saving, shorter stay in hospital and faster recovery.

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The endoscopy devices market is categorized on the basis of product and application. On the basis of products, the market can be categorized as endoscopes, visualization equipment and others. The various types of endoscopes include rigid endoscopes, robot assisted endoscopes, flexible endoscopes and capsule endoscopes; whereas, visualization equipment includes endoscopic ultrasound devices, standard definition visualization systems and high definition visualization systems. On the basis of application, the endoscopy devices market can be segmented as arthroscopy, laparoscopy, otoscopy, gastrointestinal endoscopy, bronchoscopy, laryngoscopy, arthroscopy, urology endoscopy, mediastinoscopy, and others.

Some of the factors driving the growth of the global endoscopy devices market are increasing inclination towards minimally invasive surgeries, increasing geriatric population, increasing demand for cost-effective procedure, and increasing prevalence of diseases requiring minimally invasive surgery. In addition, increasing healthcare spending, refining healthcare infrastructure, increasing healthcare awareness, and technological advancement in endoscopy instruments are the other factors fueling the growth of the global endoscopy devices market. However, high cost of endoscopic procedure, and lack of trained professionals are some of the factors restraining the growth of the endoscopy devices market to some extent. Further, safety concerns associated with reused endoscopes is also inhibiting the growth of the global endoscopy devices market.

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Crude Oil Price Recovery Powering Sales of Centralizers and Float Equipment

The recovery in the global crude oil prices is one of the major factors responsible for the burgeoning sales of centralizers and float equipment across the world. With recovery in global crude oil prices since the middle of 2016, several oil and gas organizations around the world are launching extensive oil and gas exploration and production (E&P) activities. For example, British Petroleum (BP) plc launched Mad Dog oil field operations’ second phase.

According to the estimates of the Organization of Petroleum Exporting Countries (OPEC), the worldwide oil demand is predicted to grow from 95.4 million b/d to 111.1 million b/d from 2016 to 2040. This mushrooming requirement for oil and gas products will propel the sales of centralizers and float equipment in the forthcoming years. Due to these factors, the global centralizers and float equipment market is set to exhibit lucrative growth in the coming years.

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Geographically, the centralizers and float equipment market registered the highest growth in North America in the past years, as per the observations of P&S Intelligence, a market research company based in India. This was credited to the fact that North America has historically been the world’s biggest oil and gas producing region. Moreover, the huge investments being made in oil and gas E&P activities will boost the sales of centralizers and float equipment in the region in the upcoming years.

Hence, it can be said with surety that the demand for centralizers and float equipment will surge all over the world in the forthcoming years, primarily because of the recovery in crude oil prices and the increasing number of oil and gas exploration and production activities in various countries around the world.

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Why is Electric Vehicle Deployment Surging in ASEAN Region?

Due to the rising concerns being raised over the environmental pollution and damage caused by the oil- and gas-powered vehicles, the governments of various ASEAN (Association of Southeast Asian Nations) countries are enacting regulations for automobile manufacturing and encouraging the usage of electric vehicles, in place of the conventional oil- and gas-powered ones. Moreover, several governments are also launching schemes, in the form of subsidies and financial incentives, for fueling the deployment of electric vehicles.

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As the adoption of electric vehicles can massively reduce the emission of carbon dioxide, the governments of several ASEAN countries are implementing policies aimed at propelling the sales of these vehicles. Many governments are launching incentive schemes to boost the adoption of electric vehicles in transport fleets. For example, the Thailand Board of Investment (BOI) announced in April 2019 that it would reduce excise tax from 8% to 2% for automakers planning to manufacture electric vehicles in Thailand.

Furthermore, many automobile manufacturing companies are investing heavily in the manufacturing of electric vehicles in the ASEAN region. For example, Toyota Motor Corporation announced in June 2019 that it would invest around $2 billion in electric vehicle manufacturing in Indonesia. Such huge investments being made by automobile manufacturers are fueling the advancement of the ASEAN electric vehicle market, as per the observations of P&S Intelligence, a market research company based in India.

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Hence, it is safe to say that the sales of electric vehicles would shoot-up in the ASEAN region in the forthcoming years, mainly because of the rising enactment of favorable government policies and the provision of several financial incentives by the governments of the regional countries.

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How is Increasing Geriatric Population Leading to Growth of Colombian Wound Care Market?

In 1992, merely 25% of the Colombian population had insurance coverage, and by 2016, this percentage had risen to 96%! This reflects the strong commitment of private and public companies in this small South American nation to offering citizens affordable healthcare, which is a basic human right. With insurance, the majority of the people in the nation can access clinics, hospitals, and a range of healthcare services, one of the most important of which is the treatment of wounds. Such physical features range from a simple one, caused when children fall down, to big, nasty ones, caused by burns or car crashes.

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Therefore, with the increasing affordability of healthcare, the Colombian wound care market, which valued $76.1 million in 2018, is projected to grow at a 3.6% CAGR during 2019–2024, to ultimately reach $93.9 million in 2024. The field of wound care encompasses the disinfection, closing, and long- and short-term management of the wound. Wounds are categorized as chronic and acute, depending on how long they last, of which, healthcare facilities and pharmacies have been visited more by people for the treatment of chronic wounds. Pressure ulcers, diabetic foot ulcers (DFUs), and venous leg ulcers (VLUs), which are classified as chronic wounds, are increasing in prevalence in Colombia.

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This is also why, of the two types of wound care products available — traditional and advanced — the advanced variants have witnessed higher sales; they are better suited for chronic wounds. Such products keep the area under treatment hydrated, oxygenated, and thermally stable. Moreover, advanced wound care products also stop the colonization of the wound by bacteria and fungi, thereby speeding up the healing process. As a result, the dressing has to be replaced less often than with traditional wound care products, which ultimately reduces the burden on the healthcare fraternity and cost of treatment for patients.

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How Is Rising Air Pollution Level Driving Demand for Fatty Acid Esters?

With rampant urbanization and industrialization, the disposable income of people in developed and developing countries is increasing. This is why people are now spending more on things they earlier avoided splurging on, such as cosmetics and personal care products. Additionally, the sale of such products is also rising on account of the increasing appearance consciousness among people, driven by the influence of TV, social media, and fashion and lifestyle magazines. As a result, major companies that offer such products are augmenting their manufacturing output to increase their profit.

According to P&S Intelligence, the rising demand for personal care and cosmetic products will be a key reason behind the growth of the fatty acid esters market to $3,688.9 million in 2030 from $2,240.9 million revenue in 2019, at a 4.6% CAGR between 2020 and 2030. This is because fatty acid esters are vastly utilized in the production of skin creams as a thickener and emollient. Additionally, these chemicals find usage as detergent cleansing agents. The biggest reason fatty acid esters are becoming an important ingredient in the personal care and cosmetic industry is the rising demand for bio-based products.

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In this regard, a key driver for the fatty acid esters market is the use of crude oil derivatives for manufacturing lubricants and powering automobiles. As the burning of crude oil derivatives is the biggest cause of air pollution, the levels of which are continuously rising, governments around the world are implementing policies to adopt cleaner automotive fuels, such as biodiesel, which has fatty acid esters as a key ingredient. Similarly, most of the lubricants available today have a mineral oil base, and due to the rampant exploration and production (E&P) activities, oil reserves are depleting fast, thereby driving the demand for bio-based lubricants.

Hence, with the shift toward bio-based personal care products, cosmetics, automotive fuels, and lubricants, increasing volumes of fatty acid esters will be used around the world.

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What Is Application of Acetic Anhydride in Tobacco Industry?

The global population is on path to reaching 9.7 billion in 2050 from 7.7 billion in 2019, as per the United Nations (UN). Among the hordes of types of products this population boom is leading to the rising demand for are medical drugs. This is because the number of people alive is directly linked to the prevalence of diseases and other problems that call for medical treatment. This is driving the growth of the worldwide pharmaceutical industry, with companies investing both to increase their manufacturing output and look for more-effective and cheaper drugs.

P&S Intelligence says that the rising pharmaceutical production will be a key factor that will propel the acetic anhydride market from $3,476.1 million in 2019 to $4,950.4 million in 2030, at a 2.3% CAGR between 2020 and 2030. This is because the compound, represented chemically as C4H6O3, is used for the production of acetaminophen (paracetamol) and aspirin. These are two of the most-common drugs used to manage fever, reduce pain, and suppress inflammation. With the increasing number of people suffering from these conditions for short or long periods, the demand for these two drugs is rising, thereby driving the consumption of acetic anhydride in the pharmaceutical industry.

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As a result of the growing pharmaceutical and construction sectors, the largest acetic anhydride market in 2019 was Asia-Pacific. Moreover, the World Health Organization says, “Over 80% of the world's 1.3 billion tobacco users live in low- and middle-income countries.”, a lot of which are in APAC. This has been fueling the consumption of acetic anhydride for the production of cellulose acetate, which is important in the tobacco sector. The fastest market growth will be seen in the Middle East and Africa due to the expansion in end-use industries.

Hence, as the booming population pushes up the demand for medical drugs, cigarettes, and houses, the consumption of acetic anhydride will rise.

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