Rising Defense Funds Worldwide to Bode Well for Sales of Armored Vehicles

Defense ministries of countries worldwide are allocating significant budgets for the procurement of armored vehicles. Rising demand from the defense sector is reflecting positively on the growth of the global armored vehicle market. The technological transformations in these vehicles have helped the market in gaining traction. Integration of lightweight, compact, and technologically advanced photonic and electronic components has enhanced the operational efficiency of armored vehicles, thereby giving a considerable boost to the global armored vehicle market.

Rising Demand for Compact and Efficient Security Vehicles to Drive Global Armored Vehicle Market

In recent times, there is rapidly growing demand for armored vehicles from several law enforcement agencies worldwide, with the aim of undertaking critical missions, safeguarding human lives, and securing VIPs. Moreover, the demand for compact, highly efficient, and robust vehicles and weapons is anticipated to bolster the growth of the global armored vehicle market. Furthermore, the advancements on fronts such as adaptability, communication medium, enhanced situational awareness, navigation, protection, and surveillance are estimated to attract an extended set of clients in the coming years.

Asia Pacific to Emerge as Most Promising Market for Armored Vehicles

North America was the leading segment by revenue in 2014. High concentration of some of the world’s most reputable and largest defense contractors, rising investment in the research and development of new and innovative military vehicles, and vast defense funds will augur well for the growth of this region in the near future as well.

However, Asia Pacific will be the fastest-growing segment between 2015 and 2023. The growth in this region can be attributed to the rising investments in the research and development of technologically advanced armored vehicle. China represented nearly 50% of the APAC armored vehicle market in terms of revenue in 2014 and is anticipated to retain its dominance in the coming years as well.

Demand for Diabetic Food to be fueled by Growing Concerns over Alarming Increase in Prevalence of Diabetes

In recent times, diabetes has emerged as one of the most challenging health conditions across the world. According to the WHO, a total of 415 million cases of diabetes were reported globally in 2015. The count is rising at an alarming rate and is expected to reach 642 million in the next 25 years. Till now no medication has been found that can completely cure diabetes. It can only be controlled to an extent with specified diet, which includes sugar-free and low-calorie food.

The high prevalence of diabetes has increased concerns among people across the world, leading to a massive shift in consumer preference towards diabetic food. According to a study by Transparency Market Research (TMR), the global market for diabetic food, which stood at US$7.4 bn in 2013, is likely to witness a robust rise at a CAGR of 5.90% from 2014 to 2020 and reach US$11.1 bn by the end of 2020.

In this blog post, analysts at TMR answer important questions about the worldwide market for diabetic food:

What are the defining trends in the global market for diabetic food?

There are quite a few trends that have been instrumental in shaping the global market for diabetic food. Primary among them is the change in food preferences, owing to the increased awareness regarding health and fitness. As a precautionary measure, consumers are increasingly replacing their regular diet with low-sugar and low-calorie diabetic food, significantly driving the market. The enhancement in the living standards of consumers, thanks to their rising disposable income, is also fueling the demand for low-calorie diabetic food across the world.

On the flip side, the market is likely to be flustered with a strong hike in prices of diabetic food products in the coming years. The lack of well-developed distribution channels is anticipated to hamper the availability of diabetic food products, resulting in increased product prices.

What are the key trends seen in the competitive landscape of the global diabetic food market?

The global market for diabetic food demonstrates a fragmented landscape due to the presence of a large pool of participants, which also signifies the intense competition within the market. Producers are aggressively focusing on building distribution networks with food product vendors in a bid to expand their reach.

Looking forward, partnerships with leading pharmaceutical companies is likely to emerge as a key trend among diabetic food producers in order to enhance their brand value.

How are the regional markets for diabetic food performing?

North America has emerged as the leading market for diabetic food across the world and is expected to remain dominant in the near future. The rising prevalence of diabetes, propelled by the increasing base of the geriatric and obese population, especially in the U.S., is the key driving force behind the swelling demand for diabetic food in this region.

Led by the strong demand in the U.K. and Germany, Europe has acquired the second position in the worldwide market for diabetic food. The growing consumer awareness about diabetes and related precautionary measures are expected to support the region to retain its position in the forthcoming years.

China, India, and Japan are driving the market for diabetic food in Asia Pacific. The unmet medical needs of consumers in these countries are providing untapped opportunities for key vendors of diabetic food. The increasing western influence thanks to globalization and the escalating disposable income of consumers is likely to keep the demand for diabetic food high in Asia Pacific over the next few years.

Storage Crisis after Recent Decline in Oil Prices to Create Viable Opportunities for Oil Storage Market

Of late, oil prices have been experiencing a sharp decline, leading to prominent alterations in oil trends, including the supply of crude oil exceeding its demand. This depression in oil prices has caused a severe oil glut across the world, creating a storage crisis. As a result, the demand for oil storage facilities is witnessing a remarkable surge since the last few months.

Apart from this, the plummeting oil prices have also intensified the competition within the oil sector. The leading companies involved in oil supply are aggressively focusing on expanding their operations to increase their supply volume, which is likely to create a huge demand for oil storage units in the coming years.

According to a research study published by Transparency Market Research (TMR), the global market for oil storage, which stood at 1,337 mn cubic meters in 2014, is likely to increase its market volume to 2,027 mn cubic meters by 2024 at a CAGR of 4.73% during the period from 2016 to 2024.

In this blog post, analysts at TMR answer important queries about the worldwide oil storage market:

What are the key trends that are likely to define the future of global oil storage market?

The demand for oil storage facilities will mostly be influenced by the overhaul in the oil sector over the next few years. With the supply of crude oil surpassing its demand, the need for storage facilities has suddenly intensified, leading to increased oil inventories. Oil companies, especially in Europe and Asia Pacific, are focusing on increasing their storage capacity by constructing new storage facilities.

Apart from this, the demand for finished petroleum products, propelled by the rise in road travels, has also fueled the need for storage capacity expansions considering the future usage, which is expected to impact the demand for oil storage facilities positively in the coming years.

What are the factors influencing the demand for oil storage facilities in various regions?

The Middle East and Africa leads the demand for oil storage facilities across the world. The surge in oil production and the decrease in oil prices are the key driving forces behind the extensive demand for oil storage in this region.

The growing need for additional oil storage space has been driving the demand for oil storage in North America. The increasing investments for the expansion of storage capacity are likely to boost the market for oil storage in North America in the near future.

On the other hand, the demand for oil storage facilities in Asia Pacific is anticipated to be greatly influenced by the rising investments in petroleum reserves in this region over the next few years.

What are the latest developments in this market?

The oil prices are continuing to tumble with the rising crude stockpile in the U.S. According to the U.S. Energy Information Administration (EIA), the crude supplies have increased by 2.5 million barrels in the country till mid-August 2016. Oil suppliers in the U.S. are compelled to build new storage facilities in the next few months, leading to a sudden surge in the oil storage market in the U.S. and across the world, at large.

Japan, on the other hand, is planning to examine the potential for increasing the capacity of Okinawa-based Saudi Arabia’s crude oil storage facility in the near future, which will also reflect positively on the global market in the long run.  At present, the facility boasts of a capacity of 6.29 million barrels crude oil.

Industrial Sector to Emerge as Promising End User for Membrane Bioreactor Systems

Owing to their higher efficiency in treating wastewater and industrial discharges as compared to conventional waste discharge treatment methods such as activated sludge systems, membrane bioreactors are rapidly replacing the latter across a vast number of application areas globally. Rising global population and the increased demand for adequate quantities of clean and fresh water, the demand for membrane bioreactor systems across the wastewater treatment sector has seen a vast rise in the past few years.

Transparency Market Research states that the global membrane bioreactor systems (MBR) market will exhibit an impressive 14.5% CAGR over the period between 2013 and 2019. Expanding at this pace, the market, which held an opportunity of US$963.8 mn in 2012, is expected to rise to US$2,506.1 mn by 2019.

In this blog post, Transparency Market Research analysts uncover some of the key facts and trends in the global membrane bioreactor systems market:

Which is the most influential regional market for membrane bioreactor systems presently?

Asia Pacific is presently the dominant regional market for membrane bioreactor systems, contributing 38% of the global market’s overall revenues in 2012. The key factors behind Asia Pacific’s dominant stance in the global membrane bioreactor systems market include the vast pace of urbanization and industrialization, which is leading to the vast rise in waste water production, and the rising awareness regarding the need to reclaim waste water. 

The high urbanization rates in countries such as India and China have especially proved to be significant for the increased demand for clean water for agricultural and domestic purposes. This has bolstered the need for effective waste water treatment systems across industrial and municipal setups in the region, thus driving the membrane bioreactor system market. Enactment of several regulations and provision of subsidies have also helped in augmenting the overall growth prospects of the membrane bioreactor systems market in the region.

Membrane bioreactor systems are most prominently used in the municipal sector. Is the industrial sector lagging behind in exploiting this wastewater treatment technology?

It is true that out of the two broad end-use segments for the membrane bioreactor system market – municipal wastewater treatment and industrial wastewater treatment, the municipal sector is presently the largest contributor to the global market’s revenues. Nevertheless, the industrial sector is also increasingly adopting effective ways of recycling, reusing, or properly discarding wastewater that is generated every day across innumerous operations. Several strict environment-related regulations have necessitated the increased focus on effective treatment and reuse of industrial wastewaters. Apart from this, several companies are also undertaking increased efforts to efficiently and sustainably use water as a part of their corporate social responsibility missions.

The oil and gas refinery industry involves a vast range of extremely water-intensive processes and operations. Thus, companies in the field are under huge pressure to adopt effective water treatment technologies such as membrane bioreactor systems and are positively reacting to the scenario. Recently, the Canadian oil refinery Federated Co-Operatives Limited, located in Regina, Saskatchewan, Canada, has announced that it is planning to install GE Water’s advanced membrane bioreactor and reverse osmosis (RO) systems for a wastewater improvement project. The advanced water recycling technologies will allow the refinery to treat 100% of the wastewater generated onsite.

Supportive Government Policy Frameworks to Boost Adoption of Wave and Tidal Energy Power Plants

The ocean can prove to be one of the largest reserves of clean, sustainable energy thanks to more efficient ways of harnessing wave and tidal energy. Since wave and tidal power plants are still a relatively new technology, they provide ample scope for growth or development. These power plants enable power generation even in remote locations where grid connections are not feasible. The global wave and tidal energy market also receives strong support by governments worldwide. Several countries now have well-defined government policy frameworks and incentive schemes that encourage the adoption of these power plants.

According to a report published by Transparency Market Research (TMR), the global wave and tidal energy market was valued at US$497.7 mn in 2014 and is projected to reach US$11,345.0 mn by 2024, expanding at a whopping CAGR of 23.2% between 2016 and 2024.

TMR analysts address three important questions that companies operating in the wave and tidal energy market have:

Q. Which regions will hold lucrative opportunities in the market?

Major developments in wave and tidal stream plants are expected to occur in Europe. South Korea is expected to witness massive growth in terms of tidal barrage operations. Wave energy development will be high in Australia in the Asia Pacific region. Commercialization of this technology to its fullest extent is expected to create a huge scope for growth in the market. 

Q. What are the challenges hampering the adoption of wave and tidal power plants?

The high capital investment required for the infrastructure and installment of wave and tidal power plants is a major problem. The low maturity of this technology is another major factor dampening the lack of deployment of wave and tidal power plants.

A lack of funding channels is also impeding the market’s growth. A case in point would be Pelamis Wave Power Ltd. The company failed to secure the funding required for the development of wave energy technology in November 2014, as per reports. The company which developed P1, the world’s first offshore wave power converter to generate electricity into a national grid, is unable to further develop their product owing to insufficient funds.

Q. What are the recent developments in the global wave and tidal energy market?

Aquamarine Power Ltd. and the National University of Ireland, Maynooth have collectively secured an €800,000 EU Horizon 2020 grant to improve the performance of Oyster, a wave energy converter. The new program will enable researchers to explore ways to optimize the energy capture and the economic performance of Oyester, which is developed by Aquamarine Power.

In July 2016, wave energy developer Carnegie Wave Energy Limited announced the successful commissioning and deployment of a wave monitoring buoy in the South coast of Mauritius. Atlantis, a company based in Singapore, has entered into an agreement with SBS Intl Ltd. for the development of a 150MW tidal stream site in Indonesia. The plant is expected to be the first commercial scale tidal array in South East Asia.

Such successful deployments of wave and tidal stream plants are expected to continue to ensure the growth of the market and increase the deployment of these plants. 

Abundance of Raw Materials to Make Asia Pacific Most Promising White Biotechnology Market

In recent times, the global white biotechnology have gained significant impetus owing to the growing awareness regarding the numerous benefits of the eco-friendly products manufactured using the white biotechnology. This technology is widely used in the energy sector owing to the growing demand for bioenergy in developed countries. The white biotechnology has also proved to be a great aid in replacing applications that completely depended on the use of non-renewable energy sources. In addition, the rising concerns regarding hazardous emissions has increased the implementation of white biotechnology across the energy sector.

Increasing Government Funding for R&D Activities in White Biotechnology to Fuel Action

Governments across the globe are consistently increasing their concerns regarding harmful emissions. They are promoting the adoption of greener technologies such as white biotechnology, which will give a significant boost to the global white biotechnology market. The enormous environment-related benefits pertaining to the use of white biotechnology has led to the increase in research and development activities funded by industries as well as government bodies in the recent times. Several governments worldwide are allocating substantial funds for the implementation of the white biotechnology across various industries. Various organizations are also shifting their imperative focus towards biofuel, which is also a product of the field of white biotechnology. This shift is likely to reduce the dependence on oil and gas.

Increasing Demand for Green Product Puts North America in Leading Position

Geographically, North America presently holds the most prominent position. The substantial budgets allocated by the government for research and development in the field of white biotechnology and rising demand for green products have fuelled the growth of this regional market. Moreover, the growth of this region can be attributed to increasing implementation of white biotechnology across various industries such as food, energy, feed, and pharmaceuticals.

However, the Asia Pacific is anticipated to grow at a noteworthy growth rate between 2016 and 2024 owing to the growing demand for renewable resources across emerging economies in the region. The abundant availability of raw materials required to manufacture white biotechnology products will attract players to operate in this regional market.

Rapid Infrastructural Development in Asia Pacific and Latin America to Encourage Adoption of Energy-efficient Lighting

The global energy-efficient lighting market has gained significant momentum from warehouse owners looking for solutions that could reduce their energy consumptions and save them on costs. In comparison to conventional incandescent lighting systems, advanced and smart lighting solutions such as CFL and LED provide better efficiency, increased safety, and cost savings. The demand for energy-efficient warehouse lighting has grown with their increasing application in cooling and ventilation, lighting, refrigeration, material handling, and others applications in warehouses.  However, undefined technology issues and high initial investments are likely to hamper the growth of the global energy-efficient lighting market.

Government Initiatives to Promote Growth of Energy-efficient Lighting Market

Governments across the globe are introducing and implementing energy-saving policies. To put this in perspective, the U.S. government has imposed a ban on the use of conventional incandescent lighting in the warehouses. The government has also promised to give manufacturers utility rebates. Moreover, the implementation of Energy Performance Certificates in several European Countries have compelled warehouse owners to use energy-efficient lightings. Such measures are anticipated to give the global energy-efficient lighting market a significant push in the forthcoming years.

Energy-efficient Lighting Vendors to Shift Focus from Developed to Developing Regions

In recent times, the energy-efficient lighting manufacturers have shifted their focus from the developed markets of Europe and North America to developing markets of such as Argentina, China, India, South Africa, and Brazil. The shift can be attributed to favorable government policies, mega-urban projects, and rapid economic growth.

Geographically, Asia Pacific is the leading market. The growing inclination towards green technologies and rapid industrial growth have stimulated the demand for energy-efficient lightings in the APAC region. Major investments in the leading lighting technologies have made China, South Korea, and Japan prominent markets in this region. However, Latin America will grow at an impressive CAGR owing to a rapid improvement in trade policies, which has escalated the infrastructure development in this region.

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