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 total station market is projected to grow at a CAGR of 5.92% to reach US$2.325 billion by 2024, from US$1.647 billion in 2018. The demand for total station is increasing on account of growing construction spending globally. According to the United States Census Bureau, the construction spending in the United States increased from $1,077,350 million in 2008 to $1,246,000 million in 2018. Moreover, the number of infrastructure development project has been increasing rapidly, more specifically, Read more...
The wireless gas detection market is projected to grow at a CAGR of 14.50% to reach US$3,019.736 million by 2024, from US$1,340.440 million in 2018. The number of factory related accidents has been growing steadily over the years while simultaneously, the regulations regarding the worker’s safety are becoming more stringent. As such, the installation of wireless gas detectors in the manufacturing facility is increasing in order to reduce the factory related accidents. Furthermore, the growing 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 Microinverter market is projected to grow at a CAGR of 19.66% during the forecast period. Microinverter is a device which converts direct current (DC) generated by solar cells to alternating current (AC). The demand for these inverters is increasing amongst the commercial sector on account of increasing electricity cost and longer installation duration of string inverters. Increasing research and development expenditure coupled with improvement in collaboration activities to introduce stat Read more...
Organic solar cells market is projected to grow at a CAGR of 15.65% to reach US$129.114 million by 2024, from US$53.969 million in 2018. Growing clean renewable energy demand across various industries is the key driver of organic solar cells market. Supportive government policies and initiatives to boost the use of renewable energy is further contributing to the growth of organic solar cells market. Organic solar cells have better physical properties than conventional solar cells such as desig Read more...
The Photovoltaic (PV) materials market is projected to grow at a CAGR of 8.04% over the forecast period of 2017-2023. Growing focus on clean energy technologies is the major driver of photovoltaic materials market. Strict government regulations regarding fossil fuel emissions along with supportive government policies and initiatives to boost the renewable energy sector are further escalating the demand for PV materials. However, overproduction of solar panels in China has slowed down the growt Read more...
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