Frequency Converter Market to Rear Excessive Growth during 2031

 The global Frequency Converter Market size was valued at $22.3 billion in 2021 and is estimated to reach $39.7 billion by 2031, growing at a CAGR of 6% from 2022 to 2031. Frequency converters are electronic devices used in various applications including generation, transmission, distribution, and use of electrical energy. They can control frequency, power, and voltage and improve the efficiency of the equipment or machines such as motors, pumps, fans, and others. They offer advantages such as reduction in maintenance cost, increased lifetime of machines, improved processes, enabled utilization of equipment imported from other countries, and others. They are used in various end-use industries including aerospace & defense, power & energy, oil & gas, marine, and others.

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Significant development of the end-use industries such as textile, automotive, paint & coatings, solar, pharmaceutical, chemicals, and healthcare, has fueled the demand for frequency converters to operate the machinery & equipment in industries at variable frequencies from the above-mentioned industries and is thereby expected to drive the growth of the frequency converter market during the forecast period. In addition, an increase in demand for frequency converters from developing economies such as India, China, and Japan, owing to the presence of manufacturing facilities in the region fuels the growth of the market, globally. However, fluctuations in the cost of raw materials & components and different electricity standards in different countries are the key factors that are expected to hamper the growth of the global frequency converter market in the upcoming years.

Depending on the type, the rotary frequency converter segment held the highest market share of about 68.4% in 2021 and is expected to maintain its dominance during the frequency converter market forecast period. This is attributed to the rise in demand for rotary frequency converters from applications including aerospace & defense, weapon systems, manufacturing facilities, rail & hydro facilities, and.

In addition, a rise in the adoption of rotary frequency converters in large applications with a power rating of 10 kVA or more is further anticipated to boost the demand for rotary frequency converters in the coming years.

On the basis of end-user, the aerospace & defense segment held the largest share in 2021, in terms of revenue, and is expected to maintain its dominance during the forecast period. This is attributed to the rapid growth of the aerospace & defense industry across the globe for national security. In addition, frequency converters are increasingly used in applications including aviation and weapon systems, signal systems, and others, which is expected to fuel the growth of the market during the forecast period.

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On the basis of region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2021 and is anticipated to maintain this dominance in the frequency converter market trend during the forecast period. This is attributed to the presence of key players and a huge consumer base in the region. In addition, the rapid expansion of the renewable energy sector, rise in investment toward building & construction of modern grid infrastructure and increase in R&D efforts in the region are further anticipated to fuel the growth of the market in the upcoming years.

The global frequency converter market analysis covers in-depth information about the major frequency converter industry participants. The key players operating and profiled in the report include ABB, Ltd., Avionic Instruments, LLC, Danfoss A/S, Generator Corporation, General Electric, KGS Electronics, NR Electric Co., Ltd, Power Systems & Controls, Inc., Siemens, and Langley Holdings Plc.

Other players operating in the value chain of the global frequency converter market are Bosch Rexroth, Wacker Neuson, Piller Group GmbH, ENAG, and others.

Key findings:

- In 2021, the rotary frequency converter type segment accounted for about 68.4% of the share in the global frequency converter market and is expected to maintain its dominance till the end of the forecast period.
The rotary frequency converter end-user segment is expected to grow at the fastest rate, registering a CAGR of 6.1%, throughout the forecast period.
- In 2021, the aerospace & defense end-user segment accounted for 30.7% frequency converter market share in the year 2021 and is anticipated to grow at a rate of 6.7% in terms of revenue, while increasing its share in the global frequency converter market.
- In 2020, the Asia-Pacific region dominated the global frequency converter market with more than 39.6% share, in terms of revenue.

IMPACT OF COVID-19 ON THE GLOBAL FREQUENCY CONVERT MARKET

The worldwide spread of Coronavirus has had a huge impact on various industries and countries across the globe. Owing to the lockdown in economies worldwide, there has been a decrease in the growth rate of industries such as construction & building, transportation, oil & gas, energy, food processing, electronics, pharmaceuticals, textiles, and others. In addition, there is a decrease in electricity demand from the COVID-19-affected regions, which is expected to hamper the growth of the frequency converter market in 2020. In Europe, economies such as Germany, France, Spain, Italy, and others, are following strict measures to break the spread of Coronavirus in their respective regions. As a result, there is a huge impact on the supply chain and demand for the frequency converter, which in turn resulted in restraining the growth of the frequency converter market till the starting of businesses, production, and manufacturing in the world. In addition, manufacturing firms in the U.S. faced supply chain and demand crises due to labor shortages, stuck manufacturing, and construction work, which hampered the growth of the frequency converter market. Furthermore, other industries such as pharmaceuticals, chemicals, healthcare, textile, automotive, and others, have put R&D activities and production on hold owing to lack of funding, which in turn hampered the growth of the market during the pandemic period. Furthermore, a halt in the construction of new electric utility infrastructures, renewable power plants, grid networks, and other power plants, due to a lack of workers and an increase in demand–supply gaps, hampered the market growth during the pandemic period. Thus, all these factors collectively resulted in sluggish growth of the global frequency converter market in 2020.

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Key Benefits For Stakeholders

- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global frequency converter market analysis from 2021 to 2031 to identify the prevailing global frequency converter market opportunities.
- A comprehensive analysis of the factors that drive and restrict the global frequency converter market growth is provided.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global frequency converter market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global frequency converter market trends, key players, market segments, application areas, and market growth strategies.

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.

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PERC Solar Panel Market to Witness Robust Expansion Throughout the Forecast Period 2023 – 2032

The PERC solar panel market size was valued at $140.4 billion in 2022 and is estimated to reach $304.9 billion by 2032, growing at a CAGR of 8.2% from 2023 to 2032. Passivated Emitter and Rear Contact Solar Panel refers to a type of solar panel technology. PERC solar panels are an advanced form of photovoltaic (PV) panels that feature a specific design to enhance their efficiency and power output. PERC solar panels are the addition of a passivation layer on the rear surface of the solar cell. This passivation layer helps to reduce electron recombination, which is a process that leads to energy loss in conventional solar cells. By minimizing electron recombination, PERC solar panels can capture and convert more sunlight into electricity.

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PERC solar panels are designed to have improved durability and reliability due to the passivation of the rear surface. This layer helps reduce the recombination of charge carriers, minimizing energy loss within the solar cell. By passivating the rear surface, the panel's efficiency is improved, resulting in higher energy output. The passivation layer on the rear surface of PERC solar cells acts as a protective barrier against environmental factors. It helps shield the panel from moisture, humidity, and temperature fluctuations, which can otherwise cause degradation and performance losses over time. By reducing the impact of these factors, PERC panels exhibit improved long-term durability. Moreover, potential-induced degradation is a phenomenon that can occur in conventional solar panels, leading to power loss over time. However, PERC solar panels with passivated rear surfaces have shown a reduced susceptibility to PID. The passivation layer helps minimize the effects of voltage potential differences, ensuring the panel maintains its performance levels even in challenging operating conditions. Furthermore, the improved durability and protection provided by the passivation layer contribute to lower degradation rates in PERC solar panels. With reduced energy losses and improved resistance to environmental stresses, the PERC solar panel market tends to experience slower performance degradation over its operational lifetime. This characteristic makes them an attractive choice for long-term solar installations, where consistent energy generation is essential. The combination of improved durability, reliability, and energy efficiency has driven the adoption of PERC solar panel market opportunities.

However, the PERC solar panel market scope involves additional manufacturing steps compared to conventional solar panels. These steps include passivation and rear contact formation, which require specialized equipment and processes. Each additional step adds complexity and time to the manufacturing process. The introduction of extra manufacturing steps in PERC solar panels can result in increased production costs. The additional equipment, materials, and labor required for passivation and rear contact formation can contribute to higher manufacturing expenses. These increased costs can affect the overall competitiveness and affordability of the PERC solar panel market. Moreover, the complex manufacturing process of PERC solar panels can potentially impact production yield and efficiency. Any issues or variations in the passivation or rear contact formation steps can result in lower yields, leading to the wastage of materials and resources. Maintaining consistent quality and performance across a large-scale manufacturing operation becomes more challenging due to the increased complexity. These factors are anticipated to restain the PERC solar panel market share.

The rear surface passivation layer in PERC panels offers enhanced performance and long-term benefits. This makes the panels more resilient to harsh weather conditions and extends their lifespan. By reducing the impact of environmental factors, PERC panels are better equipped to maintain their performance over time. Solar panels can experience a decrease in performance due to factors such as light-induced degradation (LID) and potential-induced degradation (PID). The passivation layer in PERC panels helps mitigate these issues by reducing electron recombination at the rear surface of the cell. This leads to lower degradation rates and improved long-term performance, ensuring consistent electricity generation throughout the panel's lifespan. The improved reliability of PERC panels transforms into higher energy yield over their lifetime. By maintaining their efficiency and performance levels for a longer duration, PERC panels offer greater electricity production and yield more energy per installed capacity compared to conventional solar panels. This characteristic makes them an attractive choice for residential, commercial, and utility-scale solar installations, maximizing the return on investment. These factors are anticipated to boost the PERC solar panel market growth in the upcoming years.

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The PERC solar panel market analysis is segmented on the basis of type, application, mounting, installation, and region. By type, it is classified into mono-crystalline and polycrystalline. By application, it is classified into residential, commercial, and utility. By mounting, it is classified into roof-top and ground-mounted. By installation, it is classified into on-grid, off-grid, and hybrid. By region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America.

The key players profiled in the PERC solar panel market forecast report include Sunnova Energy International, Inc., Jinko Solar, Canadian Solar, SolarEdge, First Solar, Inc., Trina Solar, JA Solar Holdings Co. Ltd., SunPower Corporation, Wuxi Suntech Power Co., Ltd., and REC Solar Holdings AS.

The report offers a comprehensive analysis of the global PERC solar panel market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the PERC solar panel market.

Impact of COVID-19 on the Global PERC Solar Panel Industry

- The pandemic caused disruptions in global supply chains, including the solar industry. Manufacturing facilities faced temporary closures, and there were delays in the production and delivery of solar panels and other components. These disruptions affected the availability and pricing of solar panels, including PERC solar panels.
- The pandemic led to economic uncertainty, which affected the demand for solar installations. Many construction projects were put on hold or delayed, including solar projects. The decrease in demand resulted in reduced installations and potential challenges for solar panel manufacturers.
- Governments worldwide have implemented various measures to mitigate the economic impact of the pandemic. In some cases, this includes supporting renewable energy industries through stimulus packages, grants, or tax incentives. These policies could potentially have a positive impact on the PERC solar panel market, depending on the specific measures implemented in different countries or regions.
- The pandemic highlighted the importance of reliable and resilient energy systems. Some countries recognized the need to accelerate the transition to clean energy sources, including solar power, to reduce dependence on fossil fuels and strengthen energy security. This increased focus on renewable energy and led to a rise in demand for solar panels, including PERC technology.

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Key Findings of the Study

- Based on type, the mono-crystalline sub-segment emerged as the global leader in 2022 and is anticipated to be the fastest growing during the forecast period.
- Based on application, the utility sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
- Based on mounting, the ground-mounted sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
- Based on installation, the on-grid sub-segment emerged as the global leader in 2022, and the hybrid sub-segment is predicted to show the fastest growth in the upcoming years.

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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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Allied Analytics LLP
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Lighting Transformer Market Foreseen to Grow Exponentially Over 2031

 Lighting transformers are transformers that are specifically utilized to work with lighting. A transformer that is used to decouple two circuits is known as an isolation & illumination transformer. These transformers frequently have symmetrical windings with a ratio of 1:1. Increase in the application of transformers in residential and commercial areas is expected to offer opportunities for growth of the market in the near future. The lighting transformer market size was valued at $1.2 billion in 2021 and is estimated to reach $2.1 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.

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Moreover, growth in demand for low-voltage lighting transformers and rise in trend for dimmers switches are factors that drive the market. Resistive dimmers are another name for leading-edge dimmers. These dimmer sets reduce the AC cycle at the input's leading edge. The phrase "leading edge" derives from this. These dimmers are highly popular and are found in many homes. These dimmers are rated in terms of watts, with 1000 Watts being the greatest variety usually found.

Moreover, rising organic growth strategies by major key players across the Asia-Pacific and North America region have surged demand for the low voltage lighting transformer market, which in turn is expected to provide lighting transformers market opportunities. The high cost of maintenance of low voltage transformer is expected to hamper the market growth.

On the basis of type, the electronic transformers segment garnered the highest lighting transformer market share of about 54.68% in 2021 and is expected to maintain its dominance during the forecast period. This is attributed to the rising in demand for electronic transformers from various applications including residential, commercial, and industrial sectors, and other industries.

The rise in demand for electronic transformers from residential and industrial sectors such as homes, and manufacturing industries to convert high power voltage to medium voltage is expected to drive the growth of the market during the forecast period. Moreover, the surge in demand for electronic transformers from industries that require less electrical energy with a voltage of 33kV, and 440V-220V for domestic areas in residential areas is expected to fuel the demand for the global electronic transformers market during the analyzed time frame.

The isolation transformer segment garnered the second-largest share in 2021, in terms of revenue, and is expected to grow at a CAGR of 5.5%. Isolation One circuit is separated from another by a transformer. Isolation transformers are frequently employed in situations where delicate equipment needs to be shielded from harmful voltage or current levels crossing a major power source.

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On the basis of application, the commercial and residential segment garnered the largest share in 2021, in terms of revenue, and is expected to grow at a CAGR of 5.5%, owing to a rise in demand for lighting transformer systems from homes, commercial buildings, and others across the regions. In addition, the rise in demand for transformers in the utility sector for conversion of higher voltage to low-level voltage is anticipated to drive the growth of the market in the coming years.

Rapid growth in the commercial sector over the last decade is projected to continue in the upcoming years, owing to increased investments in infrastructure, and refurbishment of the smart grids industry across the Asia-Pacific and LAMEA regions. Large commercial complexes, malls, shops, data centers, and other applications drive the demand for the transformer market.

Region-wise, Asia-Pacific dominated the market size in 2021 and is anticipated to maintain this transformer market trend during the forecast period. This is attributed to the presence of a large number of key players in the global lighting transformer market and the growth in sales of electronic transformers in the U.S. and China. In addition, the rising investment of major key players in Asia-Pacific is further anticipated to fuel the growth of the market in the coming years.

The global lighting transformers market analysis covers in-depth information on the major lighting transformers industry participants. The key players operating and profiled in the report include Eaton Corporation Plc., Schneider Electric, ABB Ltd., Hitachi, Trio Transformer, Trans Power Tech, MX LightForce, Pelton Power Technologies Private Limited, Airlink Transformers, and Leviton which hold significant shares of the market.

Significant development by major key players across the globe is expected to have a positive impact on the growth of the lighting transformers market during the forecast period. Several developing countries across the globe are implementing and expanding their manufacturing lines with the aim to achieve the digitization of the entire value chain from transformer to production of lighting transformers and services which are expected to meet the increase in demand from the industrial sector, which further fuels the demand for lighting transformers market industry.

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Key findings

- North America is expected to exhibit a CAGR of 5.9% during 2021-2031.
- By type, the electronic segment is expected to exhibit the highest CAGR during 2021-2031.
- By power rating, the small segment accounted for the largest market share in 2021.
- By application, utilities had the largest market share in 2021.

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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.

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Allied Analytics LLP
+1 800-792-5285

Solar Concentrator Market Projected to Garner Significant Revenues By 2031

 Solar concentrators are devices that collect solar radiation and concentrate at a single focal point. The devices are mainly comprised of a series of lens or mirror assemblies, heat receivers, and a tracking system. The performance of the concentrator depends on the intensity of solar radiation, the incident angle of radiation, and its relative position to the sun and the reactor to be heated. The solar concentrator market size was valued at $5.2 billion in 2021, and the solar concentrator industry is estimated to reach $24.6 billion by 2031, growing at a CAGR of 16.8% from 2022 to 2031.

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The rising requirement and demand for low-emission energy generation are driving the expansion of the worldwide solar concentrator market. Furthermore, the growth in demand for clean and green energy is propelling the worldwide solar concentrator market throughout the forecast period. Growing environmental concerns and pollution levels are driving up demand for solar concentrators in the global market. Furthermore, economic advancements are influencing the growth and development of the worldwide solar concentrator market.

Solar concentrators are specially designed for heating fluids which can be directly used for hot water, power generation, or space heating and cooling. Solar thermal power or electric generation systems can collect and concentrate the sunlight to generate high-temperature heat that is required to produce electricity. The shifting preference from fossil fuels to renewable energy sources to mitigate environmental impacts. Likewise, the emergence of solar power as the most sustainable source of renewable energy will also boost the installation of solar thermal power plants worldwide.

The rise in prominence of solar space heating, coupled with the significant development of testing facilities for solar receiver tubes and other thermal components, is projected to foster the solar thermal market trends. In addition, the introduction of favorable schemes to encourage the installation of solar water heaters and heat pump technologies is projected to further amplify industry expansion in the upcoming years. In 2021, Miriam Dalli, Minister for Energy, Enterprise, and Sustainability in Malta, launched new schemes to encourage consumers to make a switch from conventional geysers to efficient solar water heaters.

The global solar concentrator market is primarily driven by to increase in population and the gradual shift from fossil fuel resources to renewable energy resources has a positive impact on the solar concentrator market. The presence of rapid growth in population and gradual change in lifestyle among the people due to an increase in income has influenced the demand for solar thermal products.

The increase in awareness among the people regarding the advantages of utilization of solar thermal products compared to other products in residential and commercial heating is a major factor driving the market growth. The increase in the investment of the government in developing countries such as India, and China towards renewable energy will boost the demand for the solar concentrator market during the forecast period.

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However, the start-up costs of solar thermal energy devices are usually higher because of the greater expense per unit of energy generated. However, solar thermal energy lacks a feedstock demand, which led to increased investment to optimize solar thermal technology. Solar thermal devices cannot generate energy with consistency as most fossil fuels and cannot produce solar energy during cloudy days, or after dark. Hence making it an unreliable source of energy; furthermore, unlike fossil fuels, the energy produced from solar concentrators cannot be easily stored.

The solar concentrator market forecast is segmented on the basis of type, technology, application, end-use, and region. By type, the market is divided into cylindrical parabolic, paraboloid revolution, and others, By technology, the market is divided into solar power towers, linear concentrating systems, and dish sterling technology. By application, it is divided into electricity generation, heating fluids, and others. By end use, it is divided into residential, commercial, and industrial. By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

On the basis of type, the paraboloid revolution segment accounted for 55.1% of the solar concentrator market share in 2021 and is expected to maintain its dominance during the forecast period. Paraboloid revolutions are also known as 3D hubs as they are 3D-printed external light traps on a small solar cell. An external light trap consists of a parabolic concentrator and a spacer that redirects the photons that are reflected by the solar cell back toward the solar cell. Metallic parabolic concentrators with square and hexagonal top shapes can be arranged in an array which will improve the efficiency of power generation in the solar industry.

On the basis of technology, the solar power towers segment accounted for 61.1% of the solar concentrator market share in 2021 and is expected to maintain its dominance during the forecast period. Solar power tower, also known as ‘central tower’ power plant. It is a type of solar furnace using a tower to receive focused sunlight. It uses an array of flat, movable mirrors to focus the sun’s rays upon a collector tower. Early designs used these focused rays to heat water and used the resulting steam to power a turbine.

On the basis of application, the electricity generation segment accounted for 71.4% of the solar concentrator market share in 2021 and is expected to maintain its dominance during the forecast period. Combined heat and power (CHP), also known as cogeneration. The concurrent production of electricity or mechanical power and useful thermal energy (heating and/or cooling) from a single source of energy. It produces power at or close to the end-user site so that the heat released out of power generation can be utilized to meet the user’s heat necessities while power produced meets all or a part of the site’s energy needs.

By end use, it is divided into residential, commercial, and industrial. The industrial segment accounted for the largest revenue share in the global solar concentrator market in 2021. Solar concentrator systems have a wide range of utilization in the industrial sector such as power generation, combined heat and power, chemical industries, paper industries, and others. The presence of demand for hot water or the production of hot water in the above-mentioned industries is the major factor that will lead to the solar concentrator market trends.

Region-wise, Asia-Pacific accounted for the largest market share in the market and is projected to grow at a CAGR of 17.2% during the forecast period, due to rising power tariff prices and dwindling energy supplies. Growing power plants and frequent natural disasters have created tremendous potential prospects for the solar concentrator market opportunities in this region.

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Key Findings of the Study

- As per solar concentrator market analysis, on the basis of type, the paraboloid revolution segment emerged as the global leader by acquiring more than 55.1% of the solar concentrator market share in 2021 and is anticipated to continue this trend during the forecast period.
- On the basis of technology, the solar power towers segment emerged as the largest market share in 2021 accounting for 61.1%, and is anticipated to continue this trend during the forecast period.
- On the basis of application, the electricity generation segment accounted for 71.4% of the global market share in FY2021.
- On the basis of end-use, the industrial segment accounted for 50.2% of the global market share in FY2021.
- On the basis of region, Asia-Pacific is the major consumer of solar concentrators among other regions. It accounted for around 55.5% of the global market share in 2021.

Competitive Landscape

Key players in the solar concentrator industry are Acciona SA, Abors Green GmbH, Siemens AG, Abengoa Solar GmbH, Trivelli Energia, Bright Source, Solar Reserve, Torresol Energy, Clique Solar, and ACWA Power. These players have adopted various strategies to gain a higher share or retain leading positions in the market.

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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.

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Industrial Oils Market to Witness Robust Expansion throughout the Forecast Period 2021 – 2031

 The industrial oils market size was valued at $62.4 billion in 2021, and the industrial oils industry is estimated to reach $85.9 billion by 2031, growing at a CAGR of 3.3% from 2022 to 2031. Industrial oils are produced using hydrotreated or hydrocracked base oils, which offer a separate quality benefit over other comparable goods produced through the use of standard base oils. The presence of developing countries in Asia-Pacific such as China and India, which are the hub for industrial oils production owing to the rapid expansion of chemical, biodiesel, and cosmetic industries boost the demand for industrial oils which are used as raw materials in various production facilities. The basic sources of industrial oils are soybean, corn, sunflower, cottonseed, rapeseed, palm, groundnut, linseed, and grape seed.

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Industrial oils are used in machines that manufacture or process food-related commodities, pharmaceutical products, cosmetics, corrosion protection products, and power transmission Increased use of industrial oils in the food and beverage industry is one of the major drivers for the industrial oil market. The rise in middle-class income, particularly in developing countries such as China and India, has resulted in increased demand for food and beverages. The presence of a huge population in the above-mentioned developing countries has a positive impact on the demand for industrial oils. Furthermore, the expansion of industries such as dairy products, animal feed, beverages, meat processing, sugar, bakery products, processed fruits, and vegetables across the globe has a positive impact on the demand for food-grade industrial oils.

With the growing global population, there has been an increase in the demand for an efficient power source. Industrial oils are used in machines related to power transmission and the increase in investment of the government & private players in the development of renewable energy has led to the demand for power transmission-related products, which has a positive impact on the industrial oils market. Furthermore, the increase in awareness among individuals regarding the environment and decline in the fossil fuel resources led to the innovation & development of alternatives such as biodiesel have led to an increase in the demand for the industrial oils market. The presence of these advantages is expected to drive the industrial oils market growth during the forecast period.

The industrial oils market forecast is segmented on the basis of source, type, end-user, and region. On the basis of source, the market is segmented into soybean, corn, sunflower, cottonseed, rapeseed, palm, and others. On the basis of type, the market is classified into grade 1 (light), grade 2 (medium), and grade 3 (heavy). On the basis of end-use, it is classified into biofuel, paints and coatings, cosmetics and personal care, pharmaceuticals, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.

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The major companies profiled in this report include Cargill, Archer Daniels Midland, Kratan Corporation, Exxon Mobil Corporation, Chevron USA Inc., Royal Dutch Shell Plc, Castrol Limited, China Petroleum & Chemical Corporation (Sinopec), Wilmar International, Soya Mills SA, Gemtek Products, AAK Kamani, Buhler Group, Bunge Limited, Fujian Qian Trading Co. Ltd., Malplast Industries Limited, Matole Ltd, and LLC PK "XimProm". The growth in concern over food safety is a major factor that boosts the growth of the industrial oils market. The rise in consumer awareness in regard to food quality and the outbreak of foodborne diseases have put pressure on food industry players to implement sanitary practices in their manufacturing facilities.

Key findings of the study

- As per industrial oils market analysis, Asia-Pacific holds a dominant position in 2021 and would continue to maintain the lead during the forecast period.
- By source, the soybean segment accounted for the largest industrial oils market share in 2021.
- By type, the grade I segment accounted for the largest share in 2021.
- By end use, the biofuel segment is projected to grow at a CAGR of 2.9% by 2031.

Impact of Covid-19 on the Industrial Oils Market

COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, businesses, financial institutions, industrial establishments, and infrastructure companies. The shutdown of industrial manufacturing has led to declining in the demand for industrial oils in most countries across the world. The decrease in the utilization of power in industrial facilities across the globe during the outbreak has had a negative impact on the development of the market. However, the surge in the demand for personal care and pharmaceutical products during the pandemic outbreak due to increased awareness among the people has shown positive industrial oils market trends during the forecast period.

The gradual surge in infrastructure activities after the pandemic is expected to have a positive impact on the industrial oils market, as paints & coatings are used in the construction sector. The increase in the demand for biodiesel as an alternative fuel for diesel engines due to its various advantages such as renewability, purity, and low exhaust pollution has created a positive impact on the industrial oils market opportunities.

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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.

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Allied Analytics LLP
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Surge Protector Market to Observe Strong Development by 2030

 The Global Surge Protector Market size was valued at $3.9 billion in 2020 and is anticipated to generate $6.8 billion by 2030. The market is projected to experience growth at a CAGR of 5.4% from 2021 to 2030.

Power surge protector is designed to protect electrical appliances from voltage spikes. These protectors limit voltage supplied to an electric device by either blocking or shorting any unwanted voltages above a safe threshold limit to the ground. They are used in automatic control buses, electric power supply networks, telephone networks, and various communication systems.

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A common surge protector stops voltage spikes and surges, but not the violent, catastrophic burst of current from a close lightning strike. Direct lightning current is simply too big to shield with a little electronic device inside a power strip.

The key factor that drives the surge protector market includes increase in demand for usage of electrical and electronics appliances in commercial & residential sectors. Moreover, high costs incurred due to electrical equipment downtime have also encouraged adoption of whole house surge protector as it provides safety in industries and residences. Key factors that hamper the market growth are lack of awareness among small scale manufactures and competition from uninterrupted and non-fluctuating power supply systems. On the contrary, growth in awareness for need of surge protectors, rapid industrialization, and power supply issues in developing countries are anticipated to provide lucrative opportunities for the global market.

The global market is segmented on the basis of type, voltage, application, and sales channel. Depending on type, the market is divided into type 1, type 2, and type 3. On the basis of voltage, it is categorized into low, medium, and high. Based on application, it is bifurcated into residential, commercial, and industrial. By sales channel, the market is divided into online and offline.

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The key players operating and profiled in the surge protector industry report include ABB Ltd., Eaton Corporation, General Electric, Schneider Electric, Honeywell, Siemens AG, Johnson Controls, Legrand, Havells, and Vertiv Group Corp.

Key findings of the study

• The global Surge Protector Market size is provided in terms of revenue
• In 2020, the industrial segment accounted for about 49.3% of the share in the global market, and is expected to maintain its dominance till the end of the forecast period.
• In 2020, the type 1 segment accounted for 43.8% surge protector market share in the year 2020, and is protector market.
• Online sales channel is the fastest-growing segment in the global market, expected to grow at a CAGR of 5.6% during 2021–2030.
• Type 1 is expected to grow at the fastest rate, registering a CAGR of 5.2%, throughout the forecast period
• A comprehensive analysis of the factors that drive and restrain the global surge protector market growth is provided
• The qualitative data in this report aims at the market trends, dynamics, and developments in the global surge protector industry
• The global surge protector market forecast and estimations are based on factors impacting the market growth

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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:

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Surge Protector Market to Witness Exponential Growth by 2030

 A power surge protector is designed to protect electrical appliances from voltage spikes. These protectors limit voltage supplied to an electric device by either blocking or shorting any unwanted voltages above a safe threshold limit to the ground. They are used in automatic control buses, electric power supply networks, telephone networks, and various communication systems.

The global surge protector market was hit by the pandemic which led to a dip in market growth. However, the reopening of the economy has led to a correction in the market. Moreover, the rise in electronics demand from the residential sector led by work-from-home conditions has also driven the growth of the global surge protector market.

Get a PDF brochure for Industrial Insights and Business Intelligence @ https://www.alliedmarketresearch.com/request-sample/15363

A common surge protector stops voltage spikes and surges, but not the violent, catastrophic burst of current from a close lightning strike. Direct lightning current is simply too big to shield with a little electronic device inside a power strip.

The key factor that drives the surge protector market includes an increase in demand for usage of electrical and electronic appliances in commercial & residential sectors. Moreover, high costs incurred due to electrical equipment downtime have also encouraged the adoption of a whole-house surge protector as it provides safety in industries and residences. Key factors that hamper the market growth are a lack of awareness among small-scale manufacturers and competition from uninterrupted and non-fluctuating power supply systems. On the contrary, growth in awareness of the need for surge protectors, rapid industrialization, and power supply issues in developing countries are anticipated to provide lucrative opportunities for the global market.

Get a Customized Research Report @ https://www.alliedmarketresearch.com/request-for-customization/15363

The global market is segmented on the basis of type, voltage, application, and sales channel. Depending on the type, the market is divided into type 1, type 2, and type 3. On the basis of voltage, it is categorized into low, medium, and high. Based on application, it is bifurcated into residential, commercial, and industrial. By sales channel, the market is divided into online and offline.

The key players operating and profiled in the surge protector industry report include ABB Ltd., Eaton Corporation, General Electric, Schneider Electric, Honeywell, Siemens AG, Johnson Controls, Legrand, Havells, and Vertiv Group Corp.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/15363

Key findings of the study

• The global Surge Protector Market size is provided in terms of revenue
• In 2020, the industrial segment accounted for about 49.3% of the share in the global market and is expected to maintain its dominance till the end of the forecast period.
• In 2020, the type 1 segment accounted for 43.8% surge protector market share in the year 2020 and is the protector market.
• An online sales channel is the fastest-growing segment in the global market, expected to grow at a CAGR of 5.6% during 2021–2030.
• Type 1 is expected to grow at the fastest rate, registering a CAGR of 5.2%, throughout the forecast period
• A comprehensive analysis of the factors that drive and restrain the global surge protector market growth is provided
• The qualitative data in this report aims at the market trends, dynamics, and developments in the global surge protector industry
• The global surge protector market forecast and estimations are based on factors impacting the market growth

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
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
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