Global Industry Trends

The flywheel energy storage market growth between 2021 and 2030 will thrive on the surging need for electricity in remote places, the increasing preference for traditional energy generation methods, and the rising number of government policies regarding electricity production. Flywheel storage systems play a vital role in traditional power generating plants, as they help meet the soaring energy demand and solve power quality problems, such as limiting CO2 emissions, data errors, automatic resets, and equipment/circuit board failures. The burgeoning demand for electricity in BRICS nations and other emerging economies, owing to the rapid industrialization in these countries, is one of the key growth drivers of the market. Flywheel energy storage systems are necessary for aggregate traditional generating plants, as they help meet soaring power demand and supplement intermittent RES for their integration into electrical networks. In addition, the soaring demand for backup power will also ...

Owing to the surging demand for carbohydrases and proteases in the food and beverage industry, the industrial enzymes market is predicted to exhibit massive growth between 2021 and 2030. Moreover, extensive R&D, rapid industrialization, escalating demand for bioethanol, and developments in the nutraceutical sector are driving the market. Enzymes are agents derived from biological sources that help speed up certain chemical reactions, therefore witness a huge demand in various industries.  The growing environmental concerns, such as the scarcity of non-renewable resources and surging GHG emissions, have increased the demand for bioethanol , which has a negligible environmental impact. Bioethanol is produced from biomass, so it can be used as a substitute for or as an octane enhancer and extender in any traditional motor fuel, such as kerosene, gasoline, and diesel. Biofuels can help reduce pollution, which is why they can be used to replace the toxic oxygenates in petroleum fue...

The construction equipment market growth between 2021 and 2030 will be primarily driven by rapid urbanization around the world. The accelerating urbanization rate will increase the demand for housing projects and propel investments in infrastructure development. In recent years, the surging use of electric and fully autonomous equipment has become a key market trend. Usage of autonomous equipment increases the productivity of the construction sector, offers higher worker safety on site, and addresses the problem of skilled labor shortage. The accelerating urbanization rate is one of the key growth drivers of the construction equipment market. The World Bank Group states that around 55% of the global population currently lives in cities. It is also estimated that the global urban population grew from 4.28 billion in 2019 to 4.358 billion in 2020. The organization also forecasts that nearly 7 out of 10 people in the world will reside in urban areas, by 2050. The population growth in urb...

The global domestic pump market revenue stood at $2,912.9 million in 2020, and it is predicted to rise to $3,832.0 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will grow at a CAGR of 2.8% from 2021 to 2030. The surging construction activities in the residential sector, increasing number of high-rise buildings, where pumps are required for maintaining the water pressure till the upper storeys, depletion of groundwater, and rapid urbanization are the major factors fueling the growth of the market.  As per the Our World in Data, the global population will surge to 8.2 billion and 8.6 billion by 2025 and 2030, respectively. The surge in the worldwide population would create burden on the existing water infrastructure, which supplies drinking and utility water. In addition, a large number of people are rapidly shifting from rural areas to cities and towns every year. As per the World Bank, the share of the urban population...

According to the World Health Organization (WHO), the transportation sector is a major source of fossil-fuel carbon dioxide (CO2) emissions and the largest contributor to climate change. Further, the Environmental and Energy Study Institute (EESI) states that the combustion of fossil fuels accounted for 74% of greenhouse gas emissions in the U.S. in 2019. Likewise, the Report prepared by Climate Analytics for the Australian Conservation Foundation (ACF) states that Australia was responsible for around 1.4% of global fossil fuel combustion emissions in 2017. The increasing pollution levels have, therefore, encouraged governments to mandate the usage of bioethanol as a transport fuel, owing to which the bioethanol market will grow during 2021–2030. According to P&S Intelligence, the market generated $38.0 billion revenue in 2020. Currently, bioethanol producers and government organizations are conducting research activities improve bioethanol production from plant residues, which ar...

Alpha olefins are olefins or alkenes are with the chemical formula cxh2x. One of the major feedstocks used for producing alpha olefins is ethylene, which is produced by using naphtha and gas-based oil. In recent years, the demand for the compound has increased massively, primarily because of the soaring use of specialty chemicals in various industries. The compound is extensively used as a raw material in the production of several specialty chemicals, such as oilfield chemicals, plasticizers, lubricants, plastomers, and surfactants. For instance, ethylene alpha-olefin copolymers are also called plastomers and they are made from the polymerization process. Plastomers exhibit the hybrid characteristics of plastics and elastomers and because of these traits, these materials are extensively used in packaging and polymer modification applications.  In addition, they provide good foaming, low-cost benefits in surfactant production, and excellent compatibility with hard water. Because o...

A number of factors such as the low cost of charcoal briquettes, rich tradition of barbecue food, and rise in tourist arrivals in the nation to experience its scenic landscapes, rich culture, and soul-satisfying food are projected to propel the growth of the South African charcoal briquettes market at a CAGR of 8.8% in the forecast period (2020–2030). According to P&S Intelligence, the market generated $136.0 million revenue in 2019, and it is expected to reach $286.7 million by 2030. Moreover, the market is witnessing a trend of surging usage of instant-light charcoal briquettes.  One of the prime factors propelling the market growth is the low cost of charcoal briquettes. In South Africa, charcoal briquettes are commonly used for cooking purposes, as people prefer these over other cooking fuels, including kerosene and liquified petroleum gas (LPG), owing to their low cost. The cost is less because charcoal briquettes are made of wood and powder, which is left after the manuf...