Exploring the Potential of Pumped Hydro Storage Market

The pumped hydro storage market was USD 353.8 billion in 2023, and it will reach to USD 643.9 billion by 2030, powering at a rate of 9.2% by the end of this decade. 

The important factors powering the industry growth are growing deployment of intermittent renewable energy sources, for example solar and wind power; increasing requirement for grid stability and dependability; and stringent regulations of the government aiming to decrease the emissions of carbon. 

Apart from this, the long operational lifetimes and a moderately low environmental impact as opposed to other energy storage technologies make them a rather feasible option for power grids.

With the growing urbanization and rising global population, energy demand worldwide has grown exponentially in the recent past. As per a UN report, the population of the world in 2022 of 8 billion will reach 9.8 billion by 2050. 

Furthermore, it has a lower environmental impact, as it does not make use of water from lakes or rivers. These systems can be set up where grid support is needed; consequently, they need not be situated near a river.  

Apart from this, they are more effective, as there is no requirement to evaporate water from the lower reservoir. As per the NREL analysis, closed-loop pumped storage has the lowest Global Warming Potential.

APAC leads the pumped hydro storage market, with a share of about 45%, in 2023, credited to the snowballing installation of pumped hydro stowage capacity. 

Additionally, the fast economic growth has brought about increased consumption of energy, which PHS can help meet, along with supporting industrial expansion. This is because this stowage tech is the most-scalable sort of energy storage solution as opposed to other solutions, for example hydrogen fuel cells, battery storage, and gravity battery storage.

India has a substantial potential for pumped hydro stowage as there are more than a few locations in the country, ideal for pumped storage projects, for example lakes, river valleys, and dams. The government of India wants to install 20 GW of pumped storage capacity by the end of this decade.

 Because of the increasing demand for grid stability and reliability all over the world, the demand for pumped hydro storage is on the rise. This will continue like this in the years to come as well.

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Liquid Air Energy Storage Market is Led by North America

The liquid air energy storage market was USD 1,472.9 million in 2023, and it will rise to USD 4,887.6 million, powering at an 18.8% compound annual growth rate, by 2030.

Moreover, it is a long-duration energy storage (LDES), flexible technology. It utilizes air to generate electricity; the air is kept as a liquid by cooling it down and, after, transformed to a gaseous form to boost turbines.

Compared to the present storage technologies, liquid air energy storage has numerous benefits, such as easy setup and a high energy density, and it also aids in peak shaving and load leveling. This assists in decreasing the effectiveness of power systems, reducing the peak-time load on the grid, regulating the grid frequency, and allowing effective power plant utilization.

The electricity & heat industry is the greatest emitter of greenhouse gases globally, emitting around 14.65 Gt in 2022. Governments of numerous nations have set aims to attain net-zero by 2050, for which emission cutback directives have been employed across different sectors, including manufacturing, transportation, and electricity & heat.

North America is the largest contributor to the industry. The U.S. has financed in renewable power for a substantial time and set high targets for the future. For example, according to reports, around 90 projects for energy storage have been commissioned in California.

APAC will advance significantly, with a 19.2% compound annual growth rate, during this decade. This is mainly because of the region's speedy economic development as well as industrialization.

With the surging need for power, coupled with increasing industrialization, the liquid air energy storage industry will continuously advance in the coming years.

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Particle Counters Market Will Reach USD 1,069.6 Million by 2030

The projected value of the worldwide particle counters market will be approximately USD 549.1 million in 2023, with an anticipated growth to reach USD 1,069.6 million by 2030. This represents a compound annual growth rate (CAGR) of 10.2% over the period from 2024 to 2030.

The growth of end-use sectors, such as automotive, aerospace, energy, and oil & gas, has been eased by supportive funding conditions. Moreover, the growing acceptance of pioneering technologies in the industrial and healthcare industries is driving the industry. 

Additionally, the execution of severe governing strategies to guarantee the best quality of items, particularly food items, is a key reason for helping the particle counters industry expansion.

The particle counters market is expected to experience growth throughout the forecast period, driven by the enforcement of regulations aimed at enhancing air pollution monitoring and management by governmental bodies. Similarly, there is a rising trend of governments imposing stringent regulations to uphold water quality standards. This is a response to the noticeable deterioration in air and water quality, primarily attributed to the increasing levels of industrialization over the years.

In 2023, the airborne category held the larger share, of more than 70%, this can be credited to the substantial usage of airborne particle counters in an extensive variety of sectors, like electronics, pharmaceutical, and biotechnology. Additionally, within this category, portable counters are significantly utilized for air quality tracking. This is mainly because they offer reliable, user-friendly tech for real-time cleanroom particle counting. The confined display of the portable type permits workers to view the count without leaving the cleanroom, which gives an instant warning of the pollution risk. In-depth communication and info organization choices are also built into these systems.

Cleanroom panels are essential in industries where tiny particles can disrupt production processes, regulating factors like temperature, pressure, humidity, and contamination levels. Cleanrooms, which come in various sizes and complexities, are particularly critical in sectors 

like biotechnology and pharmaceuticals, where stringent controls are necessary. 

The quality of the final product is significantly influenced by the cleanroom environment. The widespread use of cleanrooms across industries underscores the importance of monitoring, leading to an increased demand for particle-counting devices to uphold sterility within these facilities.

Hence, the market for particle counters is growing with rapid industrialization and rising water and air pollution.

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Closed-Loop Stepper Motor Market was Led by the Industrial Machinery

The closed-loop stepper motor market was about USD 2.9 billion in 2023, and it will power at a rate of 4.2% by the end of this decade, touching USD 3.7 billion in 2030. 

The fast expansion of the robotics and automation industry has heightened the requirement for stepper motors that can fit into slenderer spaces. Motor manufacturers have, therefore, been encouraged to more and more emphasis on improving design and industrial procedures, to offer better products with cutting-edge competence.

The automation trend in numerous sectors, for example packaging and manufacturing, is powering the acceptance of closed-loop stepper motors for accurate control. 

This has powered the requirement for CNC machines in industries to exactly cut wooden, metallic, and plastic parts to generate the projected designs. Additionally, stepper motors have applications in consumer electronics, for example, printers, camera systems, and scanner.

Based on type, hybrid motors led the closed-loop stepper motor market, accredited to the amalgamation of permanent magnet and adjustable reluctance features, aiding in reaching the chosen output power despite their small size.

Furthermore, the hybrid tech offers a high torque, low stepping rate, and high accuracy at low speeds, making them prevalent amongst industries. These alternatives are mostly used in manufacturing machinery and medical tools.  With regards to medicinal devices, they are put to use in surgical hand tools, medical pumps, and ventilation equipment. 

Additionally, the high accuracy and control provided by hybrid closed-loop stepper motors has powered their acceptance in industrial machinery.

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Printing Inks Market Will Reach USD 36.1 Billion By 2030

 The printing ink market was valued at USD 20.2 billion in 2023 and is projected to reach USD 36.1 billion by 2030, with a growth rate of 8.9% from 2024 to 2030.

During the projection period, the market is projected to grow moderately due to its already huge size. The industry is mainly propelled by the growing requirement for colorful wrapping with sharp characters and text in the personal care & cosmetics and food & beverages sectors.

Furthermore, the rising need for paperboard & cardboard packing with the thriving e-commerce industry has boosted the usage of inks for printing purposes. Likewise, the need will stay strong in the future because of the growing requirement for wrapping items and commercial printing, with the changing customer preferences.

The increasing utilization of printing inks in commercial printing, industrial printing, publication, and packaging applications is projected to fuel the industry's advance in the coming years. Printing inks are widely utilized in numerous food packaging applications, on materials such as paper, carton boards, multilayered materials, and plastics.

The printing ink market is projected to advance significantly in India, China, Indonesia, Mexico, Philippines, Cambodia and Brazil. This surge will be because of the surge in such nation’s standards of living, economic growth, and industrialization. 

With a greater gross domestic product and growth in manufacturing activities, such developing economies will require more printing inks. Furthermore, consumption will be propelled by their growing application on consumer goods with complex packaging needs.

In 2023, on the basis of formulation, the oil-based category is generating significant revenue share. The growing need for oil-based printing inks arises from their broad applications throughout numerous sectors, mainly packaging, publication, and commercial printing.

In 2023, the labels and packaging category, based on application, led the industry. The explosive growth of the middle-class populations in emerging economies, such as Thailand and India, has led to a sharp rise in consumerism and an accompanying surge for packaged products.

On the basis of applications, in 2023, the labels and packaging category dominated the market. the explosive development of middle-class populaces in developing economies, like India and Thailand, has led to a sharp increase in consumerism and an accompanying rise in packaged products.

In 2023, the Asia-Pacific region played a crucial role in driving the industry forward. The increased demand for packaged food items, coupled with rapid advancements in labeling and packaging, has bolstered growth in this area. Moreover, the expanding food and beverage, healthcare, e-commerce, and consumer goods industries are key factors propelling market growth in the region.

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Compressed Air Energy Storage Market is Powered by the increasing Global Population

The compressed air energy storage market was about USD 6,027.4 million in 2023, and it will reach USD 26,605.3 million by 2030, powering at a rate of 23.7% by the end of this decade. 

This is credited to the surge in the population and the subsequent surge in the power demand. As per the reports, global energy consumption increased from about 122.8 TWh in 2000 to more than 178.8 TWh in 2022.

On the basis of type, the diabatic category led the industry with 45%. Share. A D-CAES system compresses air and stows it in physical underground voids, for example salt caverns; or further appropriate media, such as hard rocks, aquifers, and underdevelopment gas fields. 

The stowed energy can produce electricity by heating air, by burning natural gas. This extra heat causes the air to expand, driving the conventional gas turbines, producing the generators to produce electricity.

D-CAES plants normally have lower operational costs as opposed to adiabatic and isothermal plants, making them further reasonable in the long run. Though, they are not much-friendly toward the environment as they depend on gas combustion. 

Furthermore, even though this system accomplishes a competence of only 50%, it is the most prevalent, as in 2020, it was the only marketed variant globally.

The isothermal category will grow at a rate of 23.9% in the years to come, as this method can attain a flawless or nearly textbook heat exchange with the environs. 

This is for the reason that it lets for twice the amount of air compression as opposed to adiabatic systems. It is for this reason, the lasting expenses on an isothermal CAES system are approximately 14% lower than that of traditional procedures.

The energy management category will lead the compressed air energy storage market of over USD 9 billion. Energy management is a methodical procedure concerning the monitoring and enhancement of energy use in a building, to decrease the overall consumption and indirect GHG emissions. 

This procedure consists of more than a few key steps, for example incessant data collection & analysis for identification of prospects to advance energy competence through enhancing equipment schedules and flow rates and setting parameters.

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APAC Is Dominating Cryogenic Pump Market

In 2021, the cryogenic pump market size stood at USD 1,407.6 million, which is projected to witness a 3.1% CAGR during 2021–2030, reaching USD 1,860.1 million by 2030. 

P&S Intelligence majorly credits this growth to the increasing installation of such pumps in the metallurgy, chemicals, and electronics sector. Along with, the surge in expenditure throughout the energy generation industry armed with the shift toward energy production from renewable and natural gas resources to reduce carbon emission.

The nitrogen category is all set to experience the fastest growth rate of approximately 3%, in the near future. This can be owed to the extensive utilization of nitrogen gas for the maintenance of plants, and start-up and shutdown provisions of refineries and petrochemical companies.

Thus, the increasing utilization of nitrogen gas in numerous industries, including metallurgy, healthcare, and oil and gas, is escalating the acceptance of cryogenic pumps for capturing the gas and its vapor from the base.

The oil and gas sector is the largest utilizer of cryogenic pumps in the industry, owing to the increasing production of natural gas because of its rising demand from the special chemical, petrochemical, fertilizer, and refining industries.

In 2021, APAC cryogenic pump market  was largest revenue generator, with USD 538.2 million, and projected to continue its dominance in the future as well. This can be credited to the rapid urbanization; the growth in industries, including energy & power and metallurgy in Japan, China, and India, and the escalation in the requirement for power across the region. Additionally, in India, the government is preparing to guarantee a 24*7 electricity supply.      

In order to get this target, the country needs to improve its energy generation systems. Therefore, the government is focusing more on natural gas-fired power plants, which, indeed, will grow the demand for cryogenic pumps in the coming few years.

Hence, the increasing installation of such pumps in the metallurgy, chemicals, and electronics sector, the demand for cryogenic pumps will increase in the future.

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