Wave and Tidal Energy Market Drivers Analysis, Overview And Product Outlook|2025

29 Jan 2019 - Global Wave and Tidal Energy Market is expected to reach USD 3.9 billion by 2025 as the scope, product types and its applications are increasing across the globe. Wave energy implies to the energy of the ocean surface waves, which is captured for desalination, the pumping of water into reservoirs and electricity generation. It is considered to be the most promising green technologies, and Wave and Tidal Energy generate the most intense source of renewable energy. Oceans are an endless source of clean energy. Wave and tidal energy market is expected to grow at a CAGR of 42.5% in the upcoming period.

As such, connecting tidal and wave energy from the ocean surfaces is the most supportive source of energy. Economies across the globe are inclined toward usage of these forms of renewable energy as these offer a continuous and stable source of clean energy. Abundance of ocean surface and energy generation volume in numerous countries has helped governments to follow ocean energy generation as a significant source of renewable energy in years to come. Moreover, the wave and tidal energy is witnessing maximum demand due to rise in development of the initiatives across countries, which results in reduction of price with respect to electricity. Furthermore, increase in funds and new rules by local governments helps the skill inventors for fast commercialization of their energy converters. On the other hand, the factors such as environmental and socio-economic barriers and high cost are expected to hamper the growth of the market over the forthcoming period.

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Wave and Tidal Energy Market may be explored by type, technology, end users, and geography. Wave and Tidal Energy may be explored by type as Wave Power plants, and Tidal Power Plants. The “Tidal Power Plants” of Wave and Tidal Energy is the dominant type of the market in 2016, The conversion of kinetic energy into electricity is mainly done with the help of “Tidal Stream”. As compared to Wave Power plants, the Tidal Power Plants may have higher R&D investments.

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Wave and Tidal Energy may be explored by Technology as Pendulor Device, Tidal Stream Generator, Barrage, Oscillating Water Columns, and Others (Lagoon and Turbine). Wave and Tidal Energy may be explored by end users as Residential, Industrial, and Commercial. Asia-Pacific has been at the forefront with regards to wave and tidal energy industry and will continue to rule the roost in the years to come. The Asia Pacific accounted for the major share of 39% of the global volume in 2016. The region is estimated to continue to be the foremost user over the forthcoming period due to increase in the environmental rules, public funding programs, competition, and government policies are expected to facilitate the growth of market in this region.

Asia-Pacific is looked upon as the most attractive and major market for Wave and Tidal Energy all over the world. Significant development of the accessibility of incomes, awareness amongst the population, economy, and growth in open test places are estimated to drive the market throughout the upcoming period. Asia-Pacific is followed by the North America. Some of the key players that fuel the growth of the wave and tidal energy market include S.D.E. Energy Ltd. (WERPO Wave Energy), Carnegie Wave Energy Ltd., Tenax Energy, Ocean Power Technologies, Inc., Atlantis Resources Ltd., AquaGen Technologies, Pelamis Wave Power Ltd., Ocean Renewable Power Company LLC, Aquamarine Power Ltd, and Marine Current Turbines Ltd. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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Waste To Energy (WtE) Market|Competitive Landscape And PESTEL's Analysis by 2024

15 Jan 2019 - The global Waste To Energy (WtE) Market size was USD 25.0 billion in 2015 and is expected to reach USD 43.96 billion by 2024. Market is expected to witness a steady growth on account of increasing waste generation activities. Waste to energy (WtE) technologies consists of waste management to produce electricity or transport fuel. This technology finds the application on various types of unwanted materials including semi-solid, liquid and gaseous waste.

The most popular application is municipal solid waste (MSW) processing followed by industrial remains. The main drivers expected to impact overall market growth includes increasing waste generation activities by industries coupled with high energy costs. Restricted land filling and growing environmental issues are also expected to further enhance global industry demand over the forecast period. WtE is expected to solve the environmental problems related to waste by reducing the volume and decreasing the greenhouse gas emissions. Moreover, government initiatives especially by European governments have significantly contributed to the regional WtE industry growth in the recent years. Economic development, industrialisation, and public habits have given rise to the generation of tremendous left overs and, therefore, driving the overall market.
As of 2015, more than 50% of the global population live in urban areas and, therefore, accelerating municipal solid waste accumulation. Garbage has been a worrying cause for local governing bodies mainly in developing areas. Favourable government policies coupled with financial aid are expected to positively influence the industry in near future. Government institutions have been supporting the growth by giving relaxation on taxes as well as providing incentives.

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Further, growing recycling industry in developed markets including the U.S., Japan, and Germany is expected to significantly contribute the overall growth. Some companies have in-house established WtE as a part of their corporate social responsibility. General Motors and Detroit Renewable energy collaborated to establish an energy project which converts approximately one million tons annually. The project provides around 15.8 megawatts of renewable energy to General Motors.

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A study by world bank in 2012 found out that global MSW is approximately 1.3 billion tonnes per year with high percentage share belonging North America and Asia Pacific. These MSW contain paper, organics, plastics, metals, and glasses. WtE technologies are capable of converting these wastes into various valuable energy forms. Local and national grid systems can be used to distribute power generated from these wastes. Heat can be generated and transported for district heating and thermodynamic purposes. Some biofuels variants can be obtained from organic wastes and sold in markets after refining. High costs associated with WtE establishment is expected to act as a barrier for global market over the forecast period. Initial investment costs play a crucial role on account of large facility size and installed components. Maintenance and operational costs have a lower impact on the total expenses. Cost effective traditional dumping method which include landfill sites creation is expected to hamper the rapid growth over the forecast period.

A standard incineration unit is capable of processing 10300 tons of waste per day. It costs around USD 30 million to USD 180 million to construct such a unit while a traditional landfill costs around USD 5 million to USD 10 million. Latest technologies use provides great opportunities to the global industry. Recent trends show most common technique used is incineration process. Earlier this market was dominated by public sector organisations. Looking at the industry growth, many private players have entered the global market. Segmentation is based on technology type used which include thermo-chemical, bio-chemical and chemical conversion. The thermo-chemical process is a technique in which energy content from sources is extracted using thermal treatment of high temperatures. Bio-chemical conversion deals with energy extraction from sources using bio-decomposition. Chemical conversion deals with various chemicals usage for obtaining bio fuels. North America dominated the market in terms of overall demand and is expected to maintain its position over the forecast period on account of increasing lifestyle and rise in urban areas.

The European market is expected to show a high growth on account of European Union initiatives to reduce the number of landfills by implementing WtE. Regional demand is followed by Asia Pacific and is expected to develop at the highest rate over the forecast period on account of increasing population and better-living standard. Consumer awareness coupled with rising environmental concerns are expected to significant contribute towards regional industry growth in the future. South America and Africa are expected to witness a slow growth on account of lack of technology and implementation of waste eradication traditional methods. Key players in the global market include C&G Environmental Protection Holdings Ltd, Foster Wheeler A.G., Waste Management Inc., Veolia Environment, Suez Environment S.A., The Babcock & Wilcox Co and KEPPEL SEGHERS. It is observed that players operating in this industry are conglomerates with diverse business operations. The advantage of big players in raising the necessary finances are their capability to show patience in case of earning early profits.

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Fuel Cell Technology Market Formulation & Cost Validation|2025

4 Dec 2018 - Fuel cell helps to generate electrical energy from chemical energy through electrochemical process, the chemical is not burned therefore it is a source of clean fuel. The fuel cell technology industry is expected to witness significant growth on account of rising need for alternative energy sources and zero emission energy. Increase in demand of clean energy and large investments related to hydrogen storage infrastructure development are fuelling the growth of this industry. To promote use of clean and green energy government has invested heavily on exploration of this technology and has made strict government regulation to protect the environment which has propelled the demand.

Conventional battery cannot store more energy and need continuous replacement. The energy density of non-conventional cell is more than the conventional battery; this makes it a better environment friendly option. Growing need to derive energy from renewable source to save the conventional resources and increasing concern for environment protection is expected to propel the demand for the forecast period. Platinum and Ruthenium Alloy are catalyst used to convert the chemical energy to electrical energy through electrochemical reaction. These catalysts are costly which increases the installation cost making the installation costly and to store more energy more cells are required which is a challenge for this industry.

This technology for vehicle is gaining importance globally due to its uniqueness and environment-friendly nature. The technology has the ability to generate all vehicle types such as heavy duty, power forklifts, passenger, and airport tugs. Decrease in oil consumption by the vehicles is need of the hour and this technology is the solution which makes it a golden market to explore.

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Major automobile companies are launching new cars which work on this technology such Toyota has launched Mira, Honda has launched Clarity, Mercedes is doing research on cars powered by these non-conventional batteries. Advancement in hydrogen storage know-how is another opportunity that is yet to be explored; it is expected to increase the stationary power, portable power, and transportation of power.

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The global fuel cell technology industry is segmented on the basis of applications such as transportation, portable, and stationary applications. Furthermore, it is segmented on the basis of technology such as Direct Methanol, Polymer/Proton Exchange Membrane (PEM), Molten Carbonate, Phosphoric Acid, and Solid Oxide. The technology is growing rapidly with multiple benefits such as it has portable applications such as non-conventional battery can be used for devices such as laptop, mobiles and camera as a rechargeable battery. Portable fuel cells are expected to augment or replace battery technology and use either DMFC, or PEM.

Proton Exchange Membrane Fuel Cell (PEMFC) these are extensively used across the globe, its power to area ratio (absorbs more power per unit area) is higher which makes it ideal to produce more energy when compared to others. North America and Europe are the key contributor in this market owing to awareness to protect the environment and encouragement from government to use and harness clean energy. Asia-Pacific is expected to have significant growth for the forecast period owing to the largest value generating region for these cells, with Japan and South Korea being the major countries driving the market. In Middle East and African region, the market is growing at a slower rate due to lesser awareness, although Middle East and African regions comprise the future markets for this technology, these markets are considered as major emerging markets.

Key players in this industry are Aisin Seiki Co. Ltd., AFC Energy, Bloom Energy, Ballard Power Systems Inc., Ceres Power Holdings PLC, Ceramic Fuel Cells Limited, Fuelcell Energy, Doosan Corporation, Kyocera, Hydrogenics Corporation, and Plug Power Inc. In January 2016, Fuelcell Energy a leader in manufacturing, designing, operation, and service of clean energy has announced to install a plant of 5.6-megawatt power generation plant for Pfizer Inc. world’s largest biopharmaceutical company to provide reliable and low carbon electricity. This power plant will be built by using this knowledge to produce clean and green energy.

In January 2016, Bloom Energy announced the first ever high rise project for producing clean and green energy at Morgan Stanley global head quarter. This project will operate using this technology and expected to produce 750 KW. In October 2015, Doosan Corporation Fuel Cell has inked deal to manufacture 70 Power Plants for South Korean utility. This will provide clean power for 71000 South Korean homes. In August 2015, Ballard Power Systems provides clean energy products at low cost and helps customers in solving challenges related to fuel cell, acquired Protonex Technology Corporation a leading designer and manufacturer of advanced power management products. This acquisition will help in increasing the product offering by adding power management product and portable devices using these cells.

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Fuel Cell Market - Regional Estimates & Trend Analysis by 2014-2025

5 Oct 2018 - The Global Fuel Cell Market was valued at USD 3.21 billion in 2015. The product’s ability to power various portable device and machines running on batteries, as well as high benefits over the conventional technologies concerning emission, is most likely to propel the fuel cell industry in the upcoming years.

Owing to the strict government regulations in the developed economies such as Europe and U.S., to reduce the emissions coupled with the technological advancements to support the existing electric grids is expected to boost the growth over the forecast period.

High price can be a hindering factor for the market growth. However, rapid technical advancements are being made to cut down the overall cost of the product. Improving durability and reducing cost are the two principal challenges to the product commercialization. Companies are mostly focused on developing new materials to reduce cost and increase efficiency.

The fuel cell market is expected to experience the growth in the number of private-public relationships to provide cost efficiency and facilitate a suitable platform for a technological shift. Reorganizing the businesses along with the mergers & acquisitions are the key strategies adopted by industry players to develop the end users.
Product Insights
Although the configurations of the fuel cells are the same, it is classified primarily by electrolyte used which also determines the most suitable application for them.

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In 2015, PEMFC product segment dominated the global market and accounted for approximately 65% of the total shipments. Broad scope in varied applications such as telecommunications, forklifts, automobile, data centers, backup systems and primary centers has led to the growth of the product in the market.

SOFC does not lose electrolyte owing to its all solid components, which gives it the ability to operate at high temperatures and reduces the need for expensive catalysts. Regarding revenue, the product is most likely to witness the fastest growth rate with the estimated CAGR of over 20% over the forecast period.

Stationary fuel cells such MCFC are the largest and most popular fuel cells. They are designed to supply reliable and clean on-site power. The products are installed in big stationary power plants, which makes them possess thus making them the second largest for installed capacity.

Application Insights

Stationary hydrogen power plants are designed to power banks, hospitals, airports, schools, military bases, and homes, and is anticipated to capture more than 70% of the overall shipments and thereby to emerge as the leading application segment of the industry. Its ability to use various fuels and use of direct current are the significant factors likely to increase the demand for the sector.

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The fuel cell can help power the cars with hydrogen replacing the traditional petroleum fuel. Thus, increasing the demand for hydrogen-powered forklifts in the transportation segment. Research and development activities are actively being carried out by manufacturers to bring advancement in the transportation using the fuel cell technologies. However, Hydrogen-powered vehicles are still not so popular among the masses due to high cost and lack of infrastructure. However, growing technological shift and continues advancement in technology is expected to drive the growth of hydrogen powered vehicle industry over the forecast period.

The portable power plant is used in portable products, APU, personal products & consumer goods like mobile phones, laptops, and other portable devices. The demand for this segment is expected to rise mostly for remote power applications.

Regional Insights

Due to the strict government regulations in the developed region such as North America, it is most likely to develop as the leading market for fuel cells regarding installed capacity. In 2015, it accounted for about 50% of the global installed capacity and was also predicted to continue the trend over the next six years on account of rapid commercialization and technology adoption of hydrogen-powered commercial vehicles. North America is projected to grow at an estimated CAGR of 25% between 2016 to 2025.

In terms of unit shipment, Asia-Pacific is likely to emerge as the leading sector. Japan is the major participant dealing fuel cells followed by South Korea. Owing to the enormous demand for combined heat and power systems in Japan and many other countries in the region, the segment is expected to register a rapid growth.

European region to provide a slicker technological shift will result in encouraging public-private partnership. This will facilitate Europe to reach their target of emerging low carbon economy and also keep a competitive edge over the fast-growing regions such as Japan, China, etc.

Competitive Insights

The market is highly consolidated with the top companies accounting for more than 80% of the total market share. Increase in the budget for the research and development as well as continues stimulant for the product, the hydrogen energy is likely to maintain a secure spot in the market.
Mergers and acquisition, strategic alliances, and business reorganizations are some of the key strategies adopted by market players to increase the end-user product in different segments. Samsung, Honda, Toyota, and General Motors are the largest companies in the industry with highest fuel cell patents.

Other enterprises in the segment include Ballard Power Systems, Plug power, Hydrogenics Corporation, SFC Energy AG, Ceramic Fuel Cells, Ltd., etc.

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Coal Bed Methane (CBM) Market Restraint Analysis and Forecast by 2012-2020

24 Sep 2018 - Global CBM market is estimated to reach USD 17.3 billion by 2020, growing at a CAGR of 5.9% from 2014 to 2020. Natural gas, the cleanest of all the fossil fuels is a rapidly growing energy source and is gaining market share significantly. Owing to its increasing applications for domestic and transportation use, it has been evolving as one of the primary sources of global fuel.

Coal bed methane (CBM) is also known as coal bed gas, coal-mine gas, or coal seam gas (CSG). CBM market is estimated to gain moderate growth owing to its growing application in manufacturing, residential, automotive sector. Shale gas and CBM are used as alternatives for depleting oil reserves and increasing energy demand.

It is expected that natural gas will be the highest demanded energy source in the near future. Depleting conventional natural gas sources has shifted the market focus towards unconventional gas sources like CBM, Shale gas and Tight Gas. These factors are anticipated to boost demand for CBM in the next few years.

Moreover, it is expected that availability of unconventional sources is much higher than conventional natural gas sources. CBM production is projected to increase over the forecast period owing to increased exploration and extraction of conventional natural gas globally. By application of vertical drilling, the cost of producing one cubic meter of CBM costs around USD 0.11. Drilling cost is approximately around 75% of total production of one cubic meter of CBM. Maintenance cost for equipment and machinery costs nearly 6.8% of the total cost, while the operational expenses goes to 5.4% of the total cost.

Application Insight:

The major application for this segment includes industrial, power generation, commercial, Residential, automotive sector and transportation.

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In 2013, over 64% of total production was consumed by industries and power generation plants. Currently, power generation is the most attractive investment sector globally owing to higher return on investment. CBM can be converted into petrol, ethanol or diesel, can also be stored in canisters for application of domestic or local fuels. The high quality of gas recovered is suitable for replacing conventional natural gas in power stations which include gas turbines and gas engines systems.

Regional Insight:

Globally, Canada and USA are largest producers accounting for over 70% of total volume in 2013. Demand for CBM in the region is largely driven by the increasing market for sustainable fuel in U.S. and to reduce the reliance on conventional sources of natural gas. The Asia Pacific region, owing to increasing drilling operations mostly in coal-rich nations such as India, China, Australia, Indonesia is expected to be the fastest growing CBM market globally.

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Globally, CBM is extracted from North America (US & Canada), Asia-Pacific (India, China, Indonesia, Australia), Europe (Poland, South Africa, Russia, UK), and ROW (Colombia).

Competitive Insights:

Some of the leading market players for CBM include Quick Silver Resources Inc., Baker Hughes Incorporated, Santos, ConocoPhillips, Dart Energy Ltd., Fortune Oil PLC, Arrow Energy, and Blue Energy Limited. Halliburton Co., Metgasco Ltd., Reliance Power Limited, and Senex Energy Limited.

The other market players are AGL Energy Ltd. Great Eastern Energy Corp. Ltd, Black Diamond Energy Inc., Metgasco Ltd., Senex Energy Ltd., and Reliance Power ltd.

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