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 bio 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...
Algae Biofuel market is projected to grow at a CAGR of 7.55% to reach US$8.744 billion by 2023, from US$5.650 billion in 2017. There has been a rise in the demand for biofuels as an alternative to fossil fuels. Growing environmental and sustainability concerns regarding the excess use of fossil fuels is significantly driving the demand for algae biofuels. High potential of algae to replace conventional raw materials required to produce biofuels is further boosting the adoption of algae biofuels Read more...
The krill oil market is projected to grow at a CAGR of 13.33% to reach a market size of US$580.716 million in 2024, from US$274.045 million in 2018. Krill oil is obtained from Antarctic krill. In Norwegian, krill means whale food. The growing demand for dietary supplements and functional foods is emanating the demand for the growth of the global kr Read more...
The palm oil market was evaluated at US$42.524 billion for the year 2018. Palm oil can be used both in crude form as well as in the refined form. Only one quarter of the palm oil and palm kernel oil worldwide is used as crude oil. In Southeast Asia, Africa and parts of Brazil, crude palm oil is widely used for domestic cooking (source: EUROPEAN PAL Read more...
The intelligent pigging market is estimated to witness a CAGR of 4.08% to reach US$768.309 million in 2024 from US$604.271 million in 2018. The intelligent pigging market is projected to grow at a CAGR of 4.23% over the forecast period of 2017 - 2023. Intelligent pigging is a technique which involves propelling of a smart pig in a pipeline to gather important data in order to schedule maintenance while ensuring effective continuity in operations. The demand for intelligent pigging solutio Read more...
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