The global LNG market is evaluated at 379.503 million tonnes for the year 2020 growing at a CAGR of 8.91% reaching the market size of 633.317 million tonnes by the year 2026. LNG is the acronym for Liquefied Natural gas which is made after the transformation of organic materials like algae and plankton, for a long period of time. The natural gas consists of 95% of methane which is one of the cleanest fossil fuel available. One of the key advantages which has been driving the market for L Read more...
The global marine engines market is evaluated at US$10.717 billion for the year 2020 growing at a CAGR of 3.43% reaching the market size of US$13.121 billion by the year 2026. A Marine Engine is a petrol or diesel engine that is specifically designed to be used in the marine environment. The key difference between a regular automobile engine and a marine engine is that the marine engine is modified according to the marine environment in terms of safety, performance, and other regulatory 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 con 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$8.684 billion by the year 2026. An Oil & gas pump is an essential part of a refinery. These types of pumps are required for the transfer of oil and other liquids from one location to another. The pump helps the liquid to accelerate while transferring between different locations. The market for oil & gas pumps have witnessed a significa Read more...
The global power management system market is evaluated at US$ 5.084 billion for the year 2020 growing at a CAGR of 7.74% reaching the market size of US$7.952 billion by the year 2026. Power management system is a system which is in charge of the electrical system and makes sure that the electrical system is safe and efficient. The system is majorly used to monitor the operations of an electrical distribution system in the given premises or an area. It further helps to optimize maintenanc Read more...
The Offshore Wind Turbine is expected to grow at a compound annual growth rate of 17.19% over the forecast period to reach a market size of US$28.612 billion in 2025 from US$11.044 billion in 2019. Offshore Wind Turbine are the pivotal infrastructure in the wind renewable market. The turbines harness the wind energy and transform into the electricity. As per the offering, the offshore wind turbine market provides a plethora of services such as material expertise, welding solutions, coatings a Read more...
The Energy and Power Industry is power house of global economy providing electricity and energy solutions to all other sectors. In the period of Covid-19 crises in 2020, energy and power supply has taken a brunt yet been critical resource for undertaking manufacturing of necessary commodities, running medical facilities, and facilitating online learning. The crisis has affected emerging markets such as India, Brazil, Mexico, Peru, and Turkey the most, as the demand declined, financial burden Read more...
The global thermal energy storage market is evaluated at US$4.204 billion for the year 2019 growing at a CAGR of 12.38% reaching the market size of US$8.466 billion by the year 2025. Thermal energy storage is the technology that is used to store thermal energy by varying the temperature so that it can be used later for different purposes. The market is majorly driven by the fact that with a significant depletion in the availability of fossil resources and also the negative impact of these 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...
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