Cuttings Re-injection Services Market to Witness Growth Acceleration during 2021 – 2030

The cuttings re-injection services market witnessed decreased demand owing to halted upstream activities i.e., (exploration, and drilling activities). Furthermore, the shift from fossil fuel to clean energy is expected to challenge the market during the forecast period. The cuttings re-injection services market was valued at $180.6 million in 2020 and is projected to reach $259.7 million by 2030, growing at a CAGR of 3.6% from 2021 to 2030.

Cutting re-injection is a total containment or zero discharge drilling waste disposal process. It includes three significant components high-pressure injection pump, cuttings transfer system, and slurrification unit. In addition, some of the other optional equipment used in CRI process are grinding mill, slurry holding tank, and sizing shaker. Cutting re-injection (CRI) services comprise project regulatory support, technical-engineering support, data management services for CRI disposal operations, daily technical-engineering support, process monitoring, and reporting during active CRI operations, and project documentation.

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Factors propelling the cutting re-injection services market growth are its advantages such as its potential to discard other wastes that would have to be taken to shore for disposal, allowing utilization of less expensive drilling fluid, no need of offshore transportation, cuttings can be injected if pre-treated, less chances of ground and surface water contamination, and removal of seafloor effect. However, some of the disadvantages hindering the market growth are increase in air pollution because of large power needs, rise in requirement of large equipment and labors, and others.

The cuttings re-injection services market is segmented into type and application. Based on the type the market is categorized into dedicate injection and annular injection. On the basis of application, the market is bifurcated into on-shore and off-shore. Region-wise, the cutting re-injection services market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The cutting re-injection services market share is analyzed for all segment and countries.

On the basis of type, the annular injection segment garnered 83.4% share in 2020. Based on the application, the onshore segment is expected to grow at CAGR of 1.6% during the forecast period. CRI process is common to both onshore and offshore operations. But the CRI process is easily manageable on onshore site because of the availability of space.

On the basis of region, the Asia-Pacific is expected grow at a CAGR of 4.8% during the forecast period. China has strong presence in South China Sea. Chinese oil & gas companies have come across with gas fields with reserves of around 300 billion tons along with oil fields reserves of around 200 million tons of oil.

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Based on the region, Europe garnered market share of 26.6% and expected to grow at a CAGR of 2.8% during the forecast period. The UK government has announced to drill oil & gas wells in the North Sea. The government has granted permission to drill well as a part of a cautious transformation away from fossil fuels, and protect jobs and the economy.

Some of the key players operating in the cuttings re-injection services industry are Baker Hughes Company, NOV Inc., Advantek, Augean PLC, GN Solid Control, Haliburton, Schlumberger, PPLI, Weatherford, and Terralog Technologies.

Other players in the cuttings re-injection services market are Aker Solutions, Archer Limited, KCA Deutag, Odfjell Drilling, Drill Cuttings Disposal Company/ Apollo Resources, Step Oiltools, Derrick Corporation, Calder Limited, Scomi and others.

Key findings of the study

• The report outlines the current cuttings re-injection services market trends and future scenario of the cuttings re-injection services market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The cuttings re-injection services market size is provided in terms of revenue.
• On the basis of type, the dedicated injection; segment gained 16.6% share in 2020 in terms of revenue.
• On the basis of application, off-shore segment garnered market share of 81.1% in 2020 in terms of revenue.
• On the basis of region, the North America region garnered market share of 19.8% in 2020 in terms of revenue.

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Impact of COVID-19 on the cuttings re-injection services market

• The spread of COVID-19 in numerous countries halted the industrial activities.
• This resulted into oversupply scenario in oil and gas sector.
• This consequently resulted into decreased drilling activities.
• The decrease in drilling activities resulted in decreased demand for oilfield services such as waste management.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Modular Refineries Market Analysis: Trends and Forecasts 2023 - 2032

Refineries play a significant role in the production of petroleum products as refining crude oil is the first step during the production. The first modern oil refinery based on continuous distillation was built by Ignacy Lukasiewicz near Jasha in Poland between 1854 and 1856. Several developments have been made in the refinery industry for the improvement of economies of scale and design. Refineries have historically not been very profitable, as the refinery industry has been troubled with low margins globally. Oil companies are ready to invest in innovative technology as small-size refineries are the reliable solution to increase the margin in a short period. The modular refineries market was valued at $2.2 billion in 2022 and is estimated to reach $3.6 billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032.

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Modular refineries are energy-saving, affordable, safe, and flexible in adjusting to market demands which is expected to fuel the demand for modular refineries at oil production sites. Modular refineries can manage environmental and supply security concerns with petroleum products in the oil production sector which increases modular refineries' market share during the anticipated period.

The demand for the global modular refineries market increases in new oil refinery projects as modular refineries increase the finished fuel production at minimal cost which boosts the modular refineries market trends during the forecast period. Correspondingly, the surge in awareness and promotion of new refining solutions is expected to drive the global modular refineries market size in the coming years.

Furthermore, a traditional refinery involves a high cost of installation and a specific place for operation. Modular refineries require low investment, less space, and are easy to install, overcoming all the challenges of traditional refineries. This is expected to drive the demand for modular refineries in oil production. Modular refineries are a relatively new concept in the oil production sector. Modular refinery technology gained traction in the North America and LAMEA regions.

Modular refineries can be deployed in remote locations which is creating opportunities for public-private partnerships in the modular refineries industry during the forecast period. Countries with the financial ability are investing in modular refineries to decrease the risk of fuel supply which creates modular refineries market opportunities in the near future.

Moreover, modular refiners offer an elevated level of quality control and checks to ensure the ultimate functionality of the refinery process which increases its demand in the refinery industry. Modular refineries are capable of producing fuel products according to international standards at a very cost-effective rate. The petroleum products produced from modular refineries are exported to different countries which generates revenue for oil production companies and boosts the demand for the modular refineries market during the forecast period.

In addition, the government is coming up with new investment plans to mitigate fuel security issues by deploying modular refineries in the oil production units. Higher authorities are investing in new modular refineries that can fulfill the local demand timely along with being capable of the production of finished products for export to other countries.

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Similarly, developing countries are investing in modular refineries to lower the dependency on other countries for finished products which boosts the modular refineries market growth. As per the modular refinery market forecast, the future of modular refineries systems looks promising as modular refineries provide the security of oil supply.

The modular refineries market is segmented on the basis of type, capacity, end-use, and region. On the basis of type, the market is categorized into crude oil distillation unit, topping unit, hydro skimming refinery, full conversion refineries, bitumen refineries, and carbon black refineries. On the basis of capacity, the market is divided into 200 – 10000 BPD, 10001 - 20000 BPD and 20001 - 30000 BPD. On the basis of end use, the market is categorized into government refinery and private refinery. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of type, the crude oil distillation unit segment held significant share in terms of revenue and is expected to grow at a CAGR of 6.5% from 2023 to 2032. The demand for crude oil distillation unit is high in the global modular refineries market as unit is affordable, simple to install, and able to produce high volume of fuel products. Surge in the demand for efficient modular refineries equipment in the oil refinery industry helps fuel the demand for crude oil distillation units in the market.

On the basis of capacity, the 200 – 10000 BPD segment held a major share in terms of revenue and the segment is expected to grow at a CAGR of 5.9% from 2023 to 2032. The 200 – 10000 BPD is widely accepted in the modular refineries market. Small-size refineries can produce petroleum products in high quantity with cost-effectiveness which increases the demand for 200 – 10000 BPD in the market. Furthermore, the 200–10,000 BPD modular refinery can efficiently process various grades of crude oil, which increases its demand in the market.

On the basis of end-use, the government refinery segment held the dominant share in terms of revenue and is expected to grow at a CAGR of 5.5% from 2023 to 2032. Government refineries are projected to dominate the global modular refineries market as the demand for modular refineries is high in different government oil production units. The government mainly operates the price related to crude oil and finished products due to which the government is taking initiatives for modular refineries which leads to the growth of the government segment in the market.

On the basis of region, North America held a major share in terms of revenue and is anticipated to grow at a CAGR of 5.5% from 2023 to 2032. An increase in oil extraction projects in the U.S. is projected to drive the growth of the modular refineries market. African countries have started investing in new private refineries projects and oil excavation projects which drive the demand for modular refineries in the LAMEA region during the forecast period.

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The modular refineries market analysis covers in-depth information on the major industry participants. Some of the major players in the modular refineries market include Honeywell International Inc., Pyramid E&C, Peiyang Chemical Equipment Co., Ltd., Axens, Propak Systems Ltd., Brahms Oil Refineries Ltd., VFuels, LLC, Refinery Equipment of Texas, LLC, AIPCC Energy Ltd., and Plant Process Group, LLC.

Key findings of the study

- On the basis of type, the crude oil distillation unit segment held a market share of more than 30% in 2021 in terms of revenue
- On the basis of capacity, the 200 – 10000 BPD segment held around half of the market share in 2021 in terms of revenue
- On the basis of end-use, the government refinery segment held the major market share in 2021 in terms of revenue
- On the basis of region, the North America region held a market share above 33% in 2021 in terms of revenue

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Carbon Capture, Utilization, and Storage Market Projected to Garner Significant Revenues By 2030

 The global carbon capture, utilization, and storage market is expected to head toward expansion in the coming years, owing to rising industrialization along with soaring investments toward introduction of emission control machinery will create significant market opportunities across various sectors including oil & gas, chemical and power generation across the globe. In addition, increasing industrialization rate coupled with the growing investment toward expansion of manufacturing facilities has raised the deployment of CCUS projects globally. Furthermore, several governmental policies to limit the greenhouse gases emission across the key economic sectors with the participation of regulators will further stimulate the carbon capture, utilization, and storage industry landscape. The global carbon capture, utilization, and storage market was valued at $1.9 billion in 2020, and is projected to reach $7.0 billion by 2030, growing at a CAGR of 13.8% from 2021 to 2030.

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Carbon Capture, utilization, and storage (CCUS) is an emission reduction process, which is intended to prevent large amounts of carbon dioxide being released into the environment. The technology involves collection, transportation and injection of the carbon di oxide so that it would not escape in the atmosphere. The process involves three main steps and technologies such as capture, which includes separation of CO2 from gases produced from different procedures. Secondly, it involves transport, which is transportation of the captured CO2 to a suitable site for storage with the help of pipeline, trucks, and ships. The last step is storage, which involves injection of CO2 into underground rock formation, deep wells, and depleted reservoirs. These are the best storage options for storing huge amounts of CO2 for many years.

Demand for carbon capture, utilization, and storage has witnessed tremendous growth driven by increasing penetration in end-use industries such as oil & gas, power generation, iron & steel, chemical & petrochemical, cement, and others. All industry players are investing heavily to find new commercial avenues for their product segments via investment, contracts, and partnerships. For instance, Shell is a giant MNC and has undertaken several CCSU pilot projects which include the world’s largest CCSU project, in Alberta, Canada. As result of a partnership between Shell, Canada Energy and Chevron, Quest was formed, which is a fully integrated CCSU project. In the oil sands industry, Quest has come up as the first commercial application of CCSU. It has been designed to capture, transport and store deep underground above one million tons of carbon dioxide. Chevron is also leading a CCSU project, where natural gas will travel through undersea pipelines to a liquefied natural gas plant at the Gorgon gas fields in the Western Australia. Moreover, some of the major factors that drive the demand for carbon capture, utilization, and storage include growing focus on reducing CO2 emissions, supporting government initiatives and increasing demand for CO2-EOR techniques. However, high cost of carbon capture and storage and decreasing crude oil prices are expected to hamper the growth of the carbon capture, utilization, and storage market during the forecast period. Furthermore, large number of upcoming projects in Asia-Pacific and Europe region and continuous investments in developing innovative capturing technologies enabling economic operations are expected to provide growth opportunities for the carbon capture, utilization, and storage market during the forecast period.

By service, the global carbon capture, utilization, and storage market size is studied across capture, transportation, utilization, and storage. The capture segment accounted for the largest market share in 2020, owing to increase in adoption of this service due to surge in CO2 emission from various industrial verticals such as oil & gas, power generation, iron & steel, chemical & petrochemical, and cement. The capture segment dominated the global carbon capture, utilization, and storage market with more than two-third of the total market share in 2020.

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By technology, the global carbon capture, utilization, and storage market is studied across pre-combustion capture, oxy-fuel combustion capture, and post-combustion capture. The post-combustion capture segment accounted for the largest market share in 2020, owing to surge in adoption of this technology from coal and gas power generation plants across the globe to capture the carbon and to reduce the carbon foot print. The post-combustion capture segment dominated the global carbon capture, utilization, and storage market with more than two-fifths of the total market share in 2020.

By end-use industry, the global carbon capture, utilization, and storage market is studied across oil & gas, power generation, iron & steel, chemical & petrochemical, cement, and others. The oil & gas segment emerged as a leader in 2020, owing to surge in consumption of carbon dioxide for enhanced oil recovery. The oil & gas industry segment dominated the global carbon capture, utilization, and storage market with more than half of the total market share in 2020.

Region-wise, the global carbon capture, utilization, and storage market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major carbon capture, utilization, and storage market share in 2020, and dominated the global market with more than two-fifths of the total market share in 2020.

The major players studied and profiled in the global carbon capture, utilization, and storage industry are Royal Dutch Shell PLC, Fluor Corporation, Mitsubishi Heavy Industries, Ltd., Linde Plc, Exxon Mobil Corporation, JGC Holdings Corporation, Schlumberger Limited, Aker Solutions, Honeywell International Inc., and Halliburton. Other players operating in this market include C-Capture Ltd., Tandem Technical, Carbicrete, Hitachi, Ltd., Siemens AG, General Electric, Total S.A., and Equinor ASA.

COVID-19 analysis:

CCUS is primarily used across power plants and natural gas processing plants where COVID-19 has imposed a very minimal impact. However, due to lockdown imposed across various countries, it has impacted commercial sectors, such as cement plants, chemical plants, and others, which plays a very small role in the CCUS market and after the reopening of these industries also adapt to the changes quickly and started their operations after a couple of months of lockdown. However, the lockdown caused the delay for the upcoming projects, which has affected the growth of the CCUS market at a very small scale.

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Key findings of the study

• In 2020, North America dominated the global carbon capture, utilization, and storage market with around 42.5% share, in terms of revenue.
• Europe is projected to grow at the highest CAGR of 14.4% in terms of revenue.
• The capture service segment dominated the global carbon capture, utilization, and storage market with 70.0% of the share in terms of revenue.
• The post-combustion capture segment dominated the global carbon capture, utilization, and storage market with around 45.8% of the share in terms of revenue.
• The oxy-fuel combustion capture segment is projected to grow at the highest CAGR of 14.4% in terms of revenue.
• The oil & gas segment dominated the global carbon capture, utilization, and storage market with 57.6% of the share in terms of revenue.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

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USB Wall Socket Market Advanced Technology and New Innovations by 2031

 The usb wall socket market size was valued at $1.0 billion in 2021, and USB wall socket market is estimated to reach $1.6 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031. The USB wall charger (USB wall socket) refers to a universal power adapter that enables users to plug into multiple varieties of an electrical socket. A USB wall charger optimally delivers power requirements as much as the device needs. A USB wall charger is designed in a way so that it is compatible with a wide range of mobile devices such as Apple iPhone, iPad, Android phones, and laptops.

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This market is primarily driven by the increasing proliferation of smartphones across the world. The enhanced functionality in smartphones drains out battery too soon, which is propelling the demand for these chargers. Additionally, features associated with the USB wall chargers such as fast charging, compatibility, and multiple ports to charge several devices at the same time are further likely to boost the demand for the chargers during the forecast period. However, the presence of counterfeit products in the market is expected to hamper the USB wall socket market growth.

A USB wall charger of varying power level and ports are available in market. Key regulatory bodies have strict regulations to test the safety of sockets of the USB charger. As a result, manufacturers are focusing on producing chargers that adhere to safety standards which is expected to influence the consumer inclination toward USB wall socket products. Alongside, rising adoption of updated technology and increase in consumer spending capacity on electronic goods is expected to propel the demand for USB wall socket during the forecast period.

In Asia-Pacific, China is the largest exporter of the electronic appliances and USB wall socket products. India is a major importer of electronic appliances, furthermore, the presence of investments in regards to the construction of various electronic manufacturers and increasing demand for smart phones and smart wearable in this region will drive the demand for USB wall socket market. European Union government has taken initiatives to unify the USB charging standards for smartphone industry by 2024, which will have positive impact on the market. This initiative is taken in order to reduce the  hassle for consumer and curb e-waste in regards with mobile and electronic gadgets chargers.

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The global USB wall socket market forecast is segmented on the basis of type, USB standard, application and region. On the basis of type, it is segmented into two USB ports, Four USB ports, and others. On the basis of USB standards, the market is segmented into Type-A, Type-B, and Type-C. On the basis of application, the market is segmented into residential, commercial and industrial. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest USB wall socket market share, followed by Europe and Asia-Pacific.

The major companies profiled in this report include Leviton, Legrand, Eaton, Hubbell, Jasco Products, Lutron Electronics, TopGreener, Newer Tech, Maxxima, Maxell Holdings Ltd., Mophie Inc., XXtreme Cables, BG Electrical, Accel, and Anker Technology Co. Limited. Due to rapid industrialization, urbanization and gradual increase in utilization of electronic gadgets in the daily life has led to increase in the demand for USB charger products. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in new technologies related to USB wall socket have led to attain key developments in the global USB wall socket market trends.

Key findings of the study

• North America would exhibit CAGR of 4.8% during 2022-2031.
• As per global USB wall socket market analysis, by type, the two USB ports segment accounted for the largest share in 2021.
• By USB standards, Type-A was the leading segment in 2021.
• By application, residential segment has largest market share in 2021.

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Impact of Covid-19 of Global USB Wall Socket Market

The global COVID-19 pandemic has negative impact on the USB wall socket market. Owing to the outbreak of the COVID-19 pandemic, governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output from residential to industrial sectors. Moreover, companies are dealing with missing sales and fractured supply chains as production activities shutdowns. During the pandemic outbreak there is a surge in the demand for USB chargers due to increase in the utilization of electronic gadgets from home for work and most of the education institutions across the globe have taken classes from online which led to surge in the demand for smartphones and laptops.

Post pandemic outbreak, the gradual surge in the construction sector and tourism industry has led to increase in the demand for USB wall socket market opportunities. The government of various developing and developed countries has invested in the construction of smart infrastructure and transportation services which will drive the demand for USB wall socket systems. The trend is expected to continue during the forecast period.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
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Nuclear Power Plant and Equipment Market Growth, Trends, Opportunities and Forecast to 2030

 The rise in demand for low-cost energy, reliable, zero carbon emissions, and high energy density energy across the world led to an increase in the demand for nuclear energy. In addition, the increase in demand for electricity was caused in part by the increase in population, and by economic development also led to increase the demand of nuclear power plant and equipment. The global nuclear power plant and equipment market size was valued at $41.1 billion in 2020, and is projected to reach $58.4 billion by 2030, with global nuclear power plant and equipment market forecast expected at a CAGR of 3.5% from 2021 to 2030.

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Nuclear power plants differ from fossil power plants mainly in the source of heat for converting water into steam, which is subsequently used to run the turbine and produce electricity. In addition, the source of heat is nuclear fission (or fusion, in future fusion reactors), while in the latter, it is the combustion of the fossil fuels such as coal, oil, or gas. Therefore, the structural materials chosen for nuclear reactors should also meet the requirements of fossil power plants in terms of good creep resistance, oxidation resistance, low-cycle fatigue strength, and thermal conductivity. Moreover, the elements present in the structural materials should also have a low neutron absorption cross-section, that is the probability of neutrons produced in the reactor being absorbed by these elements should be low. Furthermore, the properties of these materials should not degrade under the high levels of radiation that exist in nuclear reactors. Such degradation is generally referred to as radiation damage and includes irradiation embrittlement, irradiation creep, and swelling, helium embrittlement. In addition, nuclear power provides almost 15 %of the world’s electricity and according to the U.S. energy information and administration, as of December 31, 2020, 94 nuclear reactors were operating at 56 nuclear power plants in 28 states. 32 of the plants have 2 reactors, and 3 plants have three reactors. Nuclear power plants have supplied about 20% of total annual U.S. electricity since 1990.

The growth in demand for low-carbon-emission energy and long-life power plants led to an increase in demand for nuclear power plants, and the fast expansion of nuclear power plants created a number of opportunities for nuclear power plant equipment. .

The nuclear power plant and equipment market is segmented on the basis of reactor type, equipment type, and region. On the basis  of reactor type, the market is categorized into pressurized water reactor (PWR), pressurized heavy water reactor (PHWR), boiling water reactor (BWR), light water graphite reactor (LWGR), gas cooled reactor (GCR), and others. On the basis of equipment type, it is segmented into island equipment and auxiliary equipment. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global nuclear power plant and equipment market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include BWX Technologies, INC, Dongfang Electric Co., Ltd., Doosan Corporation, General Electric, Korea Electric Power Corporation, Larsen & Toubro Limited, Mitsubishi Heavy Industries, LTD., Shanghai ALSTOM SA, The State Atomic Energy Corporation (ROSATOM), Toshiba International Corporation.

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The global nuclear power plant and equipment market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021–2030. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s Five Forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

Impact Of Covid-19 On The Global Nuclear Power Plant And Equipment Market

• COVID-19 has impacted various industries due to shut down of different industrial operations and disrupted supply chain. Maximum companies halted their operation due to less workforce. However, there is a gradual decline in the equipment segment of the nuclear power plant and equipment market due to the impact of COVID-19.
• The electric industry accounted for significant share in terms of consumption during global lockdown. Electricity consumption has grown due to large decreases in services and industry, which have only been partially compensated by rise in household use, which has raised demand for nuclear power plants and equipment..
• The COVID-19 pandemic has impacted nuclear power and the nuclear fuel industry on both the supply and demand side. In the short term, the impact is greatest on the supply side for uranium, as various mines and nuclear fuel cycle facilities are suspending operations due to health concerns. As a result, the uranium price increased 33% from its lowest point registered in mid-March this 2020.
• Demand for nuclear power is directly proportional to the demand for nuclear fuel which was highly impacted due to COVID-19, but not nearly to the same extent as oil due to the nature of underlying demand for electricity versus oil. The Energy Information Administration estimates that the demand for electricity in the U.S. was declined by 3% in 2020. In France, where nearly 75% of electrical generation comes from nuclear energy, electricity demand is projected to decline by 15-20% in 2020. As a result, France’s EDF has already downgraded its nuclear power generation outlook for both 2020 and 2021 by 8-12% less than its pre-pandemic forecasts.
• Reactor construction schedules have also been impacted due to COVID-19 issues. China, which accounts for much of the world’s new reactor build, some new reactor projects have been halted temporarily. Reactor construction in the U.S., France, the United Arab Emirates, Bangladesh, and the UK have also been negatively impacted. These delays are a function of the reduction of staff at the construction sites and disruptions in the supply chain.
• The delay in reactor construction along with the drop in electricity demand negatively affected the nuclear power output in the 2021, but the extent of the impact is uncertain. In China, which has the largest new reactor construction program, economic growth has suffered as a result of the COVID-19 pandemic (due to developments on both of the sides of China) and thus the need for new electricity generation has slowed.
• The nuclear industry has been taking special measures to cope with the global pandemic, and no country has reported the enforced shutdown of a nuclear power reactor due to the effects of COVID-19 on the workforce or supply chains. This is according to reports from operators and regulators received through the IAEA’s COVID-19 Operational Experience Network (OPEX) and International Reporting System for Operating Experience (IRS). However, the abovementioned point shows that there is a sluggish decline in the nuclear power plant and equipment market.

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Key findings of the study

• On the basis of reactor type, the pressurized water reactor (PWR) segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
• On the basis of equipment type, the auxiliary equipment segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
• On the basis of region, the Asia-Pacific registered the highest market share and is projected to maintain the same during the forecast period

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Hydrogen Generation Market 2021 – Revenue Status and Forecast Report 2031

 The rapid surge in technological innovations related to extraction of hydrogen through sustainable resources such as Green hydrogen has significant impact on hydrogen generation market. The government initiatives towards zero carbon emissions led to the increase in utilization of fuel cell powered vehicles. Furthermore, the increased population across the globe has led to increase in the demand for food; hence in order to increase the food production hydrogen is used in the production of ammonia. The hydrogen generation market size was valued at $136.3 billion in 2021, and hydrogen generation industry is estimated to reach $262.0 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.

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Hydrogen production is the family of industrial methods for generating hydrogen gas. As of 2020, the majority of hydrogen (∼95%) is produced from fossil fuels by steam reforming of natural gas and other light hydrocarbons, partial oxidation of heavier hydrocarbons, and coal gasification.

Hydrogen produced is mostly used by petroleum refineries and fertilizer producing companies. A total of 99% of hydrogen comes from fossil fuel reforming, as it is the most conventional and cost-effective method. However, it is not beneficial for the environment due to CO2 emission. Green hydrogen is produced from electrolysis. Electrolysis is the method used to produce green hydrogen as it uses electricity to split water into hydrogen and oxygen and gives out zero carbon emissions. One of the objectives that various nations have set for 2050 is the decarbonization of the earth. The generation of an element like hydrogen, which produces green hydrogen, is one of the key factors in achieving this goal because it now accounts for more than 2% of worldwide CO2 emissions. For instance, the European Union (EU) released a unique hydrogen policy in 2020 that combines initiatives to support green hydrogen generation capacities’ rapid growth. By 2023, Florida Power & Light plans to have a 20 MW green hydrogen plant up and running. The 1.75 gigawatts Okeechobee gas-fired plant owned by FP&L will utilize this hydrogen in a 20% blend.

Increase in governmental regulations for the desulphurization of petroleum products is projected to drive the growth of the hydrogen generation market opportunities. Hydrogen is an effective energy carrier, and this quality is expected to contribute significantly to its further penetration into newer markets. The global electricity demand is expected to witness an increase of nearly two-thirds of the current demand during the forecast period. Focus on projects related to distributed power & utility, is expected to boost the hydrogen generation market growth during the forecast period.

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The hydrogen generation market forecast is segmented on the basis of source, process, delivery mode, application, and region. On the basis of source, it is classified into blue hydrogen, gray hydrogen, and green hydrogen. On the basis of process, the market is categorized into steam methane reforming, coal gasification, electrolysis, and other. On the basis of delivery mode, the market is bifurcated into captive and merchant. On the basis of application, the global hydrogen generation market is divided into chemical processing, transportation, petroleum recovery, power generation and others. Furthermore, the chemical processing segment is bifurcated into ammonia, methanol, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest hydrogen generation market share, followed by North America, and Europe.

The major companies profiled in this report include Linde Plc, Air Liquide, Cummins Inc., Uniper SE, Nel ASA, Siemens, Engine, ITM Power, Iberdrola, McPhy Energy S.A, Messer, Orsted A/S, Thyssenkrupp, Iwatani Corporation, Xebec Adsorption Inc., Ally Hi-Tech Co. Ltd, and Electrochaea GmbH. Rapid development of industrialization, modernization and increase in awareness among the individuals regarding the environmental impact of fossil fuels fuel the demand for hydrogen. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the detection technologies have led to attain key developments in the global hydrogen generation market trends.

Key findings of the study

• As per hydrogen generation market analysis, by source, the grey hydrogen segment accounted for the largest share in 2021.
• By process, the steam methane reforming segment was the leading segment in 2021.
• By delivery mode, the captive segment held the largest market share in 2021.
• By application, the chemical processing segment held the largest market share in 2021.
• By region, Asia-Pacific is projected to exhibit CAGR of 7.3% from 2022 to 2031.

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Impact of Covid-19 on Hydrogen Generation Market

The global COVID-19 pandemic has negative impact on the hydrogen generation market. Outbreak of pandemic simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies across the globe. The novel coronavirus has affected several economies and caused lockdown in many countries which has limited the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for solar related equipment in most of the countries across the world leading to decline in the growth of the hydrogen generation market. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.

At the initial stage, demand for hydrogen significantly declined due to lockdowns. Furthermore, the supply of hydrogen was hampered, as major portion of the hydrogen is produced from natural gas reforming. However, governments of various countries across the world have eased lockdown restrictions. Therefore, there is steady rise in the manufacturing process. This is driving the demand for hydrogen in industrial applications. The trend is expected to continue during the forecast period.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
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Solid State (Smart) Transformer Market Insights, Size, Share, In-Coming Trends, Top Key Players - Hitachi ABB, Siemens AG, General Electric Company

 The global solid-state transformer will be less impacted due to the COVID-19 pandemic and will continue to grow its revenue size at a CAGR of 16.9%. Solid-state transformers are an integral part of the energy grid, mainly due to the rapid penetration of renewable energy sources and efforts to strengthen the performance of the distribution network. In addition to performance enhancements, it helps in reducing greenhouse emissions over the long run and increases the security of the power grid. Moreover, all the key application areas of solid-state transformers, mainly the locomotive, electric mobility, and power distribution sectors are undergoing massive transformations due to global investments; thus, offering fresh opportunities for the solid-state transformer market. The global solid state transformer (SST) market size was valued at $141.5 million in 2020 and is projected to reach $468.0 million by 2028, growing at a CAGR of 16.9% from 2021 to 2028.

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Solid-state transformers work independently to regulate voltage fluctuations while maintaining contact with the power grid. Information related to voltage can be sent to the smart grid and corrective measures can be taken through remote administration. Optimized power supply is important for applications such as alternative energy generation such as via wind turbines and solar panels.

Major factors such as growing renewable energy generation, new smart grid installations, and electric mobility are projected to drive the global solid-state transformer market during the forecast period. Solid-state transformer technology is poised to grow at a remarkable pace, owing to its associated benefits over traditional transformers such as compact size, efficiency, AC to DC conversion, bidirectional power flow, and others.

In addition, the rise in demand for electric vehicles is anticipated to provide opportunities for companies operating in the solid-state transformer market. However, factors such as high cost associated with smart transformers and lack of awareness among potential end users are projected to hinder the solid state transformer market growth.

On the contrary, solid-state technology is likely to emerge as a mainstream transformer technology in the long run as research institutes and industry proponents like power companies strive to develop new designs of solid-state transformers that can cater to various end uses. For instance, in February 2021, major transformer makers Hitachi ABB and Nanyang Technological University in Singapore teamed up to improve solid-state transformer technology. The project is led by the Energy Research Institute and is supported by the National Research Foundation, Singapore (NRF). With this partnership, both Hitachi and NTU aim to launch commercial transformers based on solid-state technology.

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The global solid-state transformer market is segmented into product type, application, and region. Based on the product type, the market is segmented into distribution solid-state transformers, power solid-state transformers, and traction solid-state transformers. The power solid-state transformers segment accounted for the largest market share in 2020, owing to factors such as rapid adoption rate, economical costs, and a rise in product awareness in the power industry. The traction solid-state transformers are projected to grow at the fastest CAGR of 17.7%, owing to its potential use in locomotives and electric vehicles.

Applications of solid-state transformers include renewable power generation, electric vehicle charging stations, power distribution, traction locomotives, and others. The renewable power generation segment accounted for the largest market share in 2020. Renewable power generation from wind and solar panels requires smart transformers for better power management. However, the electric vehicle charging segment will grow at the fastest CAGR of 21.5% during the solid state transformer market forecast period. Furthermore, the rise in EV sales coupled with public and private investments in charging infrastructure is conducive to the adoption of smart transformers.

Region-wise, the solid state transformer market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe is accounted for the largest solid state transformer market share in 2020. This is attributed to the massive adoption of renewable energy such as wind and solar power plants in major European countries. These countries are also leading contributors to the global electric vehicle market. Asia-Pacific is anticipated to grow at the fastest CAGR of 18.6%. This fast growth rate can be attributed to the investments made by Asia-Pacific countries such as China, India, Japan, and Australia in the power industry.

Major players operating in the solid-state transformer industry include Alstom SA, Eaton Corporation, General Electric Company, Hitachi ABB, Power Systems & Controls Inc., Red Box Aviation, Schneider Electric, Siemens AG, Varentec Inc., and Vollspark.

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Key Findings Of The Study

• The solid state transformer market is projected to grow at a CAGR of nearly 16.9%, in terms of revenue, during the forecast period.
• Solid state transformer market opportunity is expected to be high through product development and product launches in the coming years.
• Electrification projects for meeting the present electricity demands, rise of electric mobility, adoption of renewable energy generation, and subsequent integration with the power grid are the major drivers.
• By region, Europe dominated the solid-state transformer market with a revenue share of over 37% in 2020.
• The qualitative data in the report aims on the solid-state transformer trends, dynamics, and developments in the solid-state transformer industry while the quantitative data provides information about the market share and size in terms of revenue. Solid state transformer market analysis is done by studying the various drivers, restraints, and opportunities

Impact Of Covid-19 On The Global Solid State Transformer Market

• Most of the industries have become non-operational during this pandemic event. The lockdown imposed in various countries hit the operations of various power distribution companies; thus, impacting their financial health. This led to a decline in the demand for transformers.
• Renewable energy generation is the largest application for solid-state transformer, which is also affected to a great extent during the pandemic. The pandemic negatively affected the demand for renewable energy generation. Complete or partial lockdown situation globally has led to supply chain disruption, leading to delays in project construction, having a direct impact on the commissioning of renewable electricity projects.
• In the global solar industry, more than 40% of the supply chain is reliant on supply from China and other Southeast Asian countries. China is the known source of this pandemic and the country is the most affected one in terms of material supply and material transport due to COVID-19. The above factors have impacted the growth of the global solid state transformer market.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll-Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
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Web: www.alliedmarketresearch.com
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Multi Fuel Generators Market to Surge at a Robust Pace in Terms of Revenue Over 2030

Significant enrichment in industrial sectors in developing Asia-Pacific countries has significantly strengthened the global supply chain. Many countries, particularly those in Europe and North America are now reliant on importing raw materials or finished products from Asia-Pacific countries such as China and India, owing to their huge production capacity and significantly lower prices. Many nations in Asia-Pacific have seen considerable economic growth as a result of their expanding superiority in chemical exports, which includes raw material processing, enlarged production facilities, and final manufacturing of end-use products. The global multi fuel generators market size was valued at $1,038.7 million in 2020, and is projected to reach $1,880.6 million by 2030, growing at a CAGR of 6.2% from 2021 to 2030.

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Multi-fuel generators are very dependable backup and primary source of power all over the world. Majority of them are available based on power ratings. Generators with very high power ratings (over 300 kVA) are used to generate grid-scale electricity in various nations. Multi-fuel generators are power stations that use more than one fuel type to generate electricity. This concept of using several fuels in generators has paved way for environmental sustainability and reduction in use of fossil fuels in emergency power backup.

Increasing demand for uninterrupted and reliable power supply and increasing instances of power outages owing to aging grid infrastructure and extreme weather conditions are some of the global multi-fuel generators market trends observed in the industry. Furthermore, the market is also predicted to rise due to power requirements in remote projects, advances in off-grid sectors, and poor grid infrastructure in developing nations. Limited power generation capacity, as well as high equipment cost, are some of the restraints for the market growth. Increasing adoption of tri-fuel generators can be stated as an multi fuel generators market opportunity.

The global multi fuel generators market is segmented on the basis of fuel type, power rating, application, end-use industry, and region. 

On the basis of fuel type, the global multi fuel generators market is segmented into dual-fuel and tri-fuel. The dual fuel segment accounted for the largest share in 2020, while tri fuel segment is projected to grow at the highest CAGR during the forecast period.

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On the basis of power rating, the global multi fuel generators market is segmented into below 350 KVA, 351 KVA to 1000 KVA, and above 1000 KVA. The 351 KVA to 1000 KVA segment accounted for the largest multi fuel generators market share in 2020, while the below 350 KVA segment is projected to be the fastest growing segment at a CAGR of 6.9%.

Applications of multi fuel generators include standby gensets, continuous gensets, and peak shaving gensets. The continuous gensets segment accounted for the largest market share in 2020, while the standby gensets segment is projected to be the fastest growing segment at a CAGR of 8.1%. 

Region wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest share of the market in 2020 as well as was the fastest growing region. 

Major players operating in the global multi fuel generators industry include such as Generac Holdings Inc., Kohler Co., Honda Power Products, Briggs & Stratton, Yamaha Motor Corporation, Cummins Inc., DuroMax, Pulsar Products, and Champion Power Equipment, which holds a significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.

Key Findings Of The Study

• On the basis of fuel type, the dual fuel segment accounted for the largest market share in 2020, and is anticipated to continue this trend during the forecast period.
• On the basis of power rating, the 351 KVA to 1000 KVA segment accounted for accounted for the largest market share in 2020.
• On the basis of application, the Continuous Gensets segment accounted for more than 54% of the global market share in 2020.
• On the basis of region, Asia-Pacific is the major consumer of multi fuel generators among other regions. It accounted for around 38% of the global market share in 2020.

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Impact Of Covid-19 On The Global Multi Fuel Generators Market

• COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. 
• Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway. 
• In many countries, the economy has dropped due to halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown. 
• The demand-supply gap, disruptions in raw material procurement, and price volatility are expected to hamper growth of the industry during the COVID-19 pandemic.
• Due to a scarcity of resources in various parts of the world, the COVID-19 pandemic has impacted negatively on the commercial and industrial sector. The industry’s top players are concerned about market’s prospects and are rethinking their strategies to meet the challenge.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll-Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
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