The hydrogen fuel cell vehicle market was valued at US$401.980 million in 2019 and is expected to grow at a CAGR of 62.36% over the forecast period to reach a total market size of US$7,364.529 million in 2025. Mounting concerns across the globe regarding the harmful effects of emissions from vehicles powered by conventional fuels have been pushing the scientific world towards eco-friendly alternatives to power vehicles. Although renewable energy sector has come a long way in this directi Read more...
The oil drilling automation market is evaluated at US$486.688 million for the year 2019 growing at a CAGR of 10.01% reaching the market size of US$862.494 million by the year 2025. Oil drilling automation refers to the automation of sub-processes of operational as well as downhole activities that are necessary for the drilling of oil. In other words, it refers to the integration of surface and downhole measurements with the help of modernized machinery, systems as well as predictive mode Read more...
Global Aviation fuel market was valued at US$178.560 billion in 2019 and is expected to grow at a CAGR of 6.00% over the forecast period to reach a total market size of US$253.261 billion in 2025.Aviation fuel is a type of kerosene-based fuel which is used to operate an aircraft. Aviation fuels reduce the risk of icing or explosion due to high temperature and is primarily used by military aircrafts as well as commercial airlines in order to maximize fuel efficiency while lowering down the ope Read more...
Global marine fuel market was valued at US$148.739 billion in 2019 and is expected to grow at a CAGR of 0.84% over the forecast period to reach a total market size of US$156.426 billion in 2025. Marine fuels, also known as bunker fuels, are hydrocarbon-based fuels that are used on board a ship. These fuels are primarily derived from petroleum sources and may also contain hydrocarbons from renewable or synthetic sources. Read more...
The global submarine cable market was valued at US$2.831 billion in 2018 and is projected to expand at a CAGR of 2.80% over the forecast period to reach US$3.341 billion by 2024. A submarine cable is a cable laid on the sea bed between land-based stations to carry telecommunication signals across stretches of ocean and sea. They are responsible for carrying the majority of the world’s data. With cables becoming increasingly necessary to interlink countries, the growth of the submarine ma Read more...
The global well intervention market was valued at US$8,501.264 million in 2018 and is expected to witness a CAGR of 5.03% over the forecast period to grow to US$11,408.791 million in 2018. Well intervention is the maintenance, repair or replacement activity carried out at any point of the life of an oil or gas well. For this, operators turn to inte Read more...
The digital oilfield market is estimated to witness a CAGR of 4.76% to reach US$19.258 billion in 2024 from US$14.573 billion in 2018. High adoption of automation in the oil and gas industry is the major driver of digital oilfield market. Strict workers safety regulations and rising cases of accidents in the past few years are also bolstering the a Read more...
The refrigeration oil market is projected to grow at a CAGR OF 5.18% during the forecast period of 2018 to 2024. Rising demand for consumer appliances such as air conditioners and refrigerators due to increasing purchasing power and urbanization is one of the major drivers of the refrigeration oil market. Increasing global cold supply chain demand Read more...
Biolubricants market is projected to grow at a CAGR of 4.17% to reach US$4.912 billion by 2024, from US$3.844 billion in 2018. The demand for biolubricants across various industries is significantly augmenting on account of stringent environmental regulations and standards. Booming global automotive industry is another major driver of biolubricants owing to strict emission norms for automobiles across different regions. Supportive government policies and initiatives to encourage the use of bi Read more...
Algae Oil market is projected to grow at a CAGR of 3.85% to reach US$2.034 billion by 2023, from US$1.621 billion in 2017. Growing usage of algae oil in food and beverage industry is one of the major driving factors for the growth of global algae oil market. Algae oil constitutes high antioxidants, proteins, and phycocyanin apart from DHA and Omega 3, making it more beneficial for health as compared to fish oil. Rising health awareness and shift towards nutritional vegan diet is also fuelling th Read more...
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