The global oil & gas analytics market was estimated to be worth US$14.591 billion for the year 2019 and is expected to grow at a CAGR of 17.23% to reach the market size of US$44.397 billion by the year 2026. The oil & gas industry has been witnessing a severe depletion crisis which has led organizations in authority to come up with solutions to better analyze the data being generated by the resources to efficiently manage the resources. The shift towards sustainable development of the oi Read more...
The global liquified petroleum gas (LPG) market is expected to grow at a compound annual growth rate of 4.91% over the forecast period to reach a market size of US$153.146 billion in 2026 from US$109.493 billion in 2020. LPG is a by-product of propane and butane and mainly extracted through refineries (crude oil) or natural gas (propane and butane’s by-product), which differs from area to area, such as in North America, the majority of the supply of LPG is from natural gases, where the Uni Read more...
The global flue gas desulfurization market is expected to grow at a compound annual growth rate of 5.12% over the forecast period to reach a market size of US$23.802 billion in 2026 from US$17.636 billion in 2020. The generation and production of energy in any type of industry requires the burning of fuels, such as oil and coal. Burning of fuels leads to environmental pollution, as major gases or flue gas, which consists of oxides of sulphur and nitrogen, are produced and released in the ai Read more...
The global hydraulic fracturing market is evaluated at US$48.339 billion for the year 2020 growing at a CAGR of 2.41% reaching the market size of US$55.764 billion by the year 2026. Hydraulic fracturing is also known as fracking and is a drilling process which is used to extract oil and gas from deep under the surface of the earth. The method is used to create cracks deep under the surface and are widened and spread using water, chemicals and sand at high pressure. More often, the resources Read more...
The global offshore cranes market is evaluated at US$20.184 billion for the year 2020 growing at a CAGR of 7.91% reaching the market size of US$31.870 billion by the year 2026. An offshore crane is a pedestal mounted lifting and rotating equipment used to transfer material or personnel from marine vessels, barges and other structures according to the API spec 2C which is a standard used to design offshore cranes. The market for offshore cranes is majorly driven by the increase in the constr Read more...
The global oil & gas pumps market is evaluated at US$5.839 billion for the year 2020 growing at a CAGR of 6.84% reaching the market size of US$8.684 billion by the year 2026. An Oil & gas pump is an essential part of a refinery. These types of pumps are required for the transfer of oil and other liquids from one location to another. The pump helps the liquid to accelerate while transferring between different locations. The market for oil & gas pumps have witnessed a significant Read more...
The global power rental market is evaluated at US$15.066 billion for the year 2019 growing at a CAGR of 8.37% reaching the market size of US$24.408 billion by the year 2025. Power rental is the facility to hire a power source to provide to an industrial unit or wherever required. Power rental has a number of benefits over the other solutions available for the same purpose. The key advantages of a power rental solution over its counterparts is that it gives the customer a significant level Read more...
The bunker fuel is expected to grow at a compound annual growth rate of 3.47% over the forecast period to reach a market size of US$153.965 billion by 2025 from US$125.469 billion in 2019. Bunker fuel generally refers to the heavy oil used on ships which is the by-product of crude oil. It has been pivotal in the running up the ships for passenger transportation, containers, and special-purpose ships for a substantial period. The stable increase in the demand for the bunker fuel can be att Read more...
The Bio LPG market is evaluated at around US$150 million during the year 2019. Bio LPG refers to the bio propane produced from plant and vegetable residuals. It is a derived product from Biomass using similar techniques such as Hydrotreating, Dehydrogenation, and Fermentation. The only difference between liquified petroleum gas and Bio LPG is that the source is different though in terms of the chemical composition both are same. Generally, Bio-LPG is derived from vegetable or waste cookin Read more...
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 direction, Read more...
