Blue Hydrogen Market Will Reach USD 42,783 Million By 2030

In 2022, the blue hydrogen market was worth around USD 17,654 million, and it is projected to advance at an 11.70% CAGR from 2022 to 2030, hitting USD 42,783 million in 2030, according to P&S Intelligence.

Blue hydrogen is commonly encouraged as a low-CO2 fuel for producing electricity, heating buildings, and powering automobiles, and a medium for storing power.

The high cost of crude oil instability and several taxes on diesel and gasoline have led to extensive growth in their price. Moreover, due to the increasing need and a lack of supply, crude oil costs have increased significantly. Crude oil transport prices are also mounting, which further creates gasoline and diesel dearer to the common people. Because of this, there is a rising demand for substitute fuels, like hydrogen.

In 2022, North America was the highest revenue generator, with a share of approximately 33%. The acceptance of improved production methods, huge expenditure in R&D, and the snowballing usage of hydrogen in the electric vehicle and aerospace sector in Canada and the U.S. drive the regional market's development.

The U.S., Saudi Arabia, the U.A.E., and Canada. have massive hydrocarbon reserves. The majority of such countries have a history of mounting the globe's power supply by leveraging their exclusive accessibility to cost-competitive natural fuels. When it comes to H2, such nations may potentially increase production through clean approaches. This could also boost the need for hydrogen power storage machinery, to utilize the gas for numerous determinations in times of high demand.

The petroleum refinery application in the blue hydrogen market is expected to produce a significant revenue share by 2030. Gas is the main chemical in the making of valuable items at plants. E&P and petrochemical businesses have been bound to restrict their CO2 footprints by government guidelines. Thus, for better-supportable operations, petroleum businesses are rapidly swapping conventional fuels with low-carbon and inexpensive substitutes.

The function of this chemical in fuel cell EVs is escalating. While H2 has long been known as a possible low-carbon transport fuel, mixing it into the mix of fuels has been verified as very complex. Furthermore, the high cost of the product is a key problem for truck builders, with the relative shortage of refueling pumps also hindering FCEV acceptance.

Though over the orthodox fossil fuels, which are rapidly exhausting, because this is becoming very costly, it has an edge. Apart from fuel cell EVs, the service is highly demanded in the aerospace industry, being a main rocket fuel.

Hence, the blue hydrogen industry is boosted by the increasing air pollution levels and government initiatives for net-zero carbon releases, such factors are driving the blue hydrogen industry.

Read More

Automated Material Handling Equipment Market To Reach USD 56,731 million by 2030

 The automated material handling equipment market will touch USD 56,731 million by 2030, powering at a rate of 8.9% in the years to come, as stated by a market research firm P&S Intelligence. 

This is due to the increasing requirement for improved accuracy of the orders, the increasing requirement for high supply chain efficiency, maximizing level of customer service, the growing concept of warehousing, and the rising acceptance of robots in handling of the material.

E-commerce will grow the fastest in the years to come, advancing at a rate of about 9%. This is due to the high requirement for ASRSs in the sector for retrieving and storing products from precise locations, the increasing count of e-commerce platforms and online stores, the increasing preference for online shopping, and the enhancing logistics infra.

The WMS category will have the fastest growth in the future, powering at a rate of 9.1%. 

This can be as a result of the increasing number of warehouse units, the increasing apprehension of retailers with regards to the concept of warehouses, the expanding freight costs, the snowballing count of e-commerce platforms, the increasing clod-based solution offerings by corporations, the escalating necessity for multi-channel distribution networks, and the mushrooming global supply chain networks.

Unit load material handling had a higher revenue in 2022, and the trend will be like this in the years to come as well. This is credited to the increasing trend of factory automation and the increasing need to make easier the delivery and storage of products at warehouses.

Likewise, such AMH equipment has more than a few benefits, as it can handle numerous supplies at a time, plummeting the trips and intervals for unloading and loading.

APAC automated material handling equipment market had the largest share, of about 42%, in 2022, and it will uphold its dominance by the end of this decade as well. 

This has a lot to do with the growing count of manufacturing sites in addition to manufacturing procedures and warehouses, the evolving trend for smart factories, the increasing development, the increasing material handling practices for improving the capabilities of production, and the growing count of local AMH producers.

Furthermore, North America held a considerable share in the past, and it will maintain its position in the future. 

This is because of the occurrence of a large count of sophisticated industries in addition to industrial processes, an increase in the need for accurate and timely order fulfillment, a surge in the necessity to decrease industrial costs of operations for example handling of the product and freight and product distribution, and the development in the retail business.

Due to the increasing trend of industry 4.0, the demand for automated material handling equipment is on the rise.

Read More

Offshore Pipeline Market To Be USD 18,716 Million By 2030

 In 2022, the offshore pipeline market was worth around USD 13,571 million, and it is projected to advance at a 4.10% CAGR from 2022 to 2030, hitting USD 18,716 million in 2030, according to P&S Intelligence.

This growth can be ascribed to the increasing need for crude oil and natural gas, mainly from the APAC region, also a rising focus on secure, cost-effective, and harmless connections for oil & gas reserve supply, is projected to boost industry in the coming years. 

The demand for pipelines is also projected to increase because of a surge in shale gas resource findings and expansion in the North American continent. Already, the region has created a substantial requirement for the fitting of pipelines off its shores. Furthermore, in the coming few years, the increasing hydrocarbon imports through subsea pipelines will have a significant positive influence on the industry.

Several medications, chemicals, polymers, solvents, and fertilizers are made from petroleum. To meet the increasing requirement for purified petrochemicals, including diesel and gasoline, numerous firms, like Rosneft, BP, Total, and Exxon Mobil, want to invest massively in order to vividly surge their oil refining capacity, by escalating the current refineries and constructing new ones.

In the coming years, North America is projected to witness significant CAGR, mainly because of the rising need for subsea pipelines, in the U.S. and Canada and both countries are doing substantial expenditures on subsea E&P projects.

It is predicted that the pipeline infrastructure in the continent will grow more in the coming years. Furthermore, due to the rising E&P actions in the Gulf of Mexico, the industry for offshore pipelines in the U.S. will enlarge vividly.

The offshore pipeline market is projected to have huge investments in North America. To fulfill its increasing demand for petroleum items, the U.S. has started to focus more on shale oil and gas making. Services for pipeline integrity are vital to reduce transport hazards, safeguarding organizational integrity, and defending individuals and assets. To stop geo-hazardous circumstances along the pipeline and save it from erosion, such facilities are very important.

On the basis of product type, the natural gas category, is projected to experience a development of approximately 4.7% in the coming years. The new gas fields have also been discovered in order to meet the increasing demand for LPG and LNG, the undersea pipes are utilized to transport the product with ease and reasonably.

Hence, the increasing need for crude oil and natural gas, mainly from the APAC region, also a rising focus on secure, cost-effective, and harmless connections for oil & gas reserve supply, are the major factors driving the offshore pipeline industry. 

Read More

Energy As a Service Market Will Reach USD 149.45 Billion By 2030

 In 2022, the energy as a service market was worth around USD 68.41 billion, and it is projected to advance at a 10.26% CAGR from 2022 to 2030, hitting USD 149.45 billion in 2030, according to P&S Intelligence.

 This growth can be ascribed to the growing potential of renewable sources, the increasing electricity consumption, and cost variations. The fondness for supportable sources is increasing among companies as well, which is projected to have a positive impact on the growth of the industry.

Businesses have understood the requirement to recognize and analyze the outline of their electricity consumption via software, smart meters, and enhanced integrated sensors, as usage is increasing quickly across several industries. Correspondingly, with the huge power usage in the commercial sector, numerous technologies have been working to generate electricity from renewable sources.

The need for energy and expenditures on this service is boosted by a growing economy and organization. The major quantity of energy is generated by exhausting fossil fuels, such as natural gas and coal as this is the most reasonable technique. Though, the growing cost of fossil-based electricity, with the fading of their supply, will ultimately result in the requirement for substitutes.

The commercial sector such as educational institutions, hospitals, airports, information hubs, and numerous other types of amenities. The commercial sector, which had larger energy as a service market share, in the past few years, is projected to witness a higher growth rate, of 11.1%, in the future.

A number of reasons, such as the shifting climate and the increasing populace, boost the growth of the sector. Different commercial buildings have diverse electricity needs, and the EaaS model helps commercial building landlords with mechanical knowledge and restricts their expenditures on executing green initiatives.

North American utilities are utilizing digital technologies to obey the new guidelines, fulfil customers’ hopes, and achieve the aim of decarbonization. Therefore, decentralization, digitization, and decarbonization have been the vital concentration zones for utilities, in a race to operationally and economically transform themselves. Thus, the continent’s main utility providers are targeting to utilize the EaaS business model.

The industry is growing because of the high demand for power, and the mounting populace. The development in the total of enhanced distribution infrastructure projects and rapid urbanization have fuelled the supply of electricity. The usage of such services is lucrative in the long run as the consumer pays according to their real power consumption, in tune with equipment performance measures, which directly drops functioning costs.

Hence, the growing potential of renewable sources, the increasing electricity consumption, and cost variations, and also the fondness for supportable sources is increasing among companies, such factors are driving energy as a service market. 

Read More

Carbon Credit Trading Platform Market Will Reach USD 479 Million by 2030

In 2022, the carbon credit trading platform market was worth around USD 103 million, and it is projected to advance at a 21.20% CAGR from 2022 to 2030, hitting USD 479 million by 2030, according to P&S Intelligence. 

This growth can be ascribed to the increasing count of markets allowing the partial usage of carbon credits and funding in C02 capture systems and acceptance of renewable energy sources.

In 2022, the cap-and-trade category had the larger market share. It is a system that creates a "cap" on extreme emissions to decrease total emissions from a bunch of emitters. 

Furthermore, it is devoted to being an industry-based method to lower the total contaminant releases and encourage corporate investment in fossil fuel alternates and energy effectiveness.

In 2022, the voluntary category had a higher revenue share, of above 60%. The voluntary carbon industry is growing and Turing out to be more important in terms of governing global warming.

An industry that could back businesses' efforts to decrease their own carbon releases is developing, as market leaders make ever-more determined commitments to decrease global greenhouse gas releases. This is the industry for voluntary CO2 credits.

In 2022, the utility category had the largest carbon credit trading platform market share, of approximately 30%. Furthermore, power businesses are concentrating on finding approaches to decrease CO2 releases.

Additionally, conventional fuels are burned to generate the heat needed to power steam turbines, which results in the creation of carbon, the key heat-trapping GHG that results in global warming, and held approximately 40% of all carbon releases globally. Therefore, businesses are accepting smart electric grid technologies that might be able to cut carbon emissions.

The world might require to eliminate billions of tons of C02 dioxide from the atmosphere yearly by the middle of the era, furthermore, to create fast cuts to releases to keep warming to 2 °C or bring the environment back into a steadier range.

Implanting trees, manufacturing CO2-sucking equipment, and scattering CO2-absorbing minerals are examples of present natural and technological solutions. As they make and implement new ascendable CO2 capture technologies, including oxyfuel combustion capture, that will allow them to halt the flow and eliminate the historical carbon dioxide before released.

In 2022, the European region had the largest market share, at 32%. The EU Emissions Trading System (ETS) supports of the EU's climate change strategy and its main plan for reducing GHG in an effective and price-effective manner.

Hence, the increasing count of markets allowing the partial usage of carbon credits and funding in C02 capture systems and acceptance of renewable energy sources, are the major factors contributing to the growth of the carbon credit trading platform industry.

Read More

The solid Oxide Fuel Cell Market Will Reach USD 5,005 Million by 2030

In 2022, the solid oxide fuel cell market was worth around USD 470 million, and it is projected to advance at a 34.4% CAGR from 2022 to 2030, hitting USD 5,005 million by 2030, according to P&S Intelligence. 

This growth can be credited to the long-term constancy, greater effectiveness, and fuel flexibility of solid oxide fuel cells, the growing government grants and research and development on fuel cells, the increasing requirement for energy-effective power production, amplified environmental worries, severe pollution rules and guidelines, and the rising stress on the usage of renewable energy sources.

In 2022, the planar category held the larger market share, of above 60%, and it is also projected to continue to dominant in the future as well. This growth can be credited to its simple geometry, low-functioning price, and comparatively easier construction procedure.

Furthermore, planar solid oxide fuel cells (SOFCs) are usually strategies in a method that the ceramic fuel cell modules are situated one above the other like a sandwich with the electrolyte rooted between electrodes, which aids as the most important mechanisms in the production of such fuel cells.

In 2022, North America had the largest solid oxide fuel cell market share, and it is also projected to continue with the dominant in the future as well. This is mainly due to the government’s supportive guidelines and steps, like the Department of Energy’s Solid-State Energy Conversion Alliance programs.

In the continent, the U.S. is a faster and larger-rising industry. This is because of the existence of a huge number of data centers of key companies, including Google, IBM, and Equinix, accepting SOFCs; the amplified requirement for fuel cell power generation; tax aids; and high research and development expenditure for hydrogen generation.

The European industry is estimated to develop at a stable growth rate in the coming few years. This growth can be credited to the growing need for renewable energy generation and the increasing emphasis on decreasing CO2 footprint and arraying hydrogen-based combined heat and power systems.

In Europe, Germany is one of the uppermost-mounting industries for SOFCs. This is mainly because of the organized fuel guidelines and solid goals set by the German government. Furthermore, the forthcoming growth of technologies, associated with solid oxide fuel cells, has also been well-defined in the energy guidelines.

In 2022, the data centers category held a revenue share, of above 38%. This is mainly due to the data centers are extremely power exhaustive and power-intense, and these need a constant power supply throughout the run time to avoid the loss of vital data.

Hence, the long-term constancy, greater effectiveness, and fuel flexibility of solid oxide fuel cells, the growing government grants and research and development on fuel cells, and the increasing requirement for energy-effective power production, are the major factor propelling the solid oxide fuel cell market. 

Read More

Environmental Remediation Market Will Reach USD 198.11 Billion by 2030

The total value of the global environmental remediation market was USD 110.67 billion in 2022, and it will rise at a growth rate of above 7.5% shortly, reaching USD 198.11 billion by 2030, according to P&S Intelligence. This market is mainly boosted by governing frameworks, an increasing emphasis on the growth of eco-friendly industries, and quick populace development and industrialization in emerging nations.

In 2022, Bioremediation technology generated the largest revenue share. This is primarily because there are no dangerous chemicals utilized in this method. In majority of the cases, it makes utilization of nutrients such as manures to rouse the microbial populace. This process is also less costly and labour-intensive. 

Additionally, it is an environment-friendly and supportable technique that can remove contaminants or alter hazardous toxins into safe ones.

In the coming few years, the groundwater category is projected to rise at a higher CAGR, of 7.9%, in the industry for environmental remediation. As per the study, 23% of the U.S. freshwater necessities are fulfilled by groundwater. Aquifers are tremendously vital in areas with inadequate surface water supplies, like Texas's Hill Country.

 While metropolises and cities utilize this water for municipal supplies, the agrarian sector uses it to water crops and hydrate livestock. Moreover, it supplies the spout and fire hydrants and even helps thermoelectric plants in generating energy.

In the coming few years, the public category is projected to experience faster development, progressing at a CAGR of approximately 7.8%, credited to numerous steps taken by governments. For example, in the U.S., EPA's Superfund is a program for washing up some of the most deeply contaminated land in the nation as well as responding to environmental crises, oil spills, and natural catastrophes.

To defend public well-being and the atmosphere, the Superfund program stresses making a visible and long-term difference in communities, guaranteeing that individuals can live and work in well, vibrant places.

The APAC environmental remediation market is to advance at the highest pace with a CAGR of 8.6%, in the coming few years. China is the front-runner in the regional industry, as the growth of infrastructure is generating the requirement for remediation facilities in the nation. In the past few decades, China's quick financial development has been significantly helped by infrastructure growth.

The country is building record-breaking structures in addition to connecting thousands of kilometers of railroad tracks. Beijing has conventionally located a lot of dependence on local governments to fund infrastructure plans to help development.

Hence, the key boosters of the environmental remediation industry include the existence of governing frameworks, the quick populace development and industrialization in rising countries, and the increase in the emphasis on the growth of eco-friendly industries

Read More