Hydrogen Generator Market Revenue is anticipated to reach US$ 1,255.76 Mn by 2024

Need for Clean Fuel Driving Growth of Hydrogen Generators Market
Hydrogen is used for numerous applications such as chemical processing, metal production, petroleum recovery, and refining to fuel cells. However, ammonia production and petroleum recovery remain key markets for hydrogen. This is creating a high demand for hydrogen generator. The global transportation industry is thriving and this is anticipated to fuel the growth of the hydrogen generators market, since transportation is one of the key markets for hydrogen. According to a report published by Transparency Market Research (TMR), the global hydrogen generator market is anticipated to rise from US$792.44 mn in 2015 to US$1,255.76 mn by 2024, expanding at a CAGR of 5.25% between 2016 and 2024.
Q. What are the factors driving the growth of the global hydrogen generator market?
Hydrogen demand is increasing across the globe as the need for clean fuel is increasing on account of strict emission regulations. Hydrogen is being increasingly accepted as a clean fuel as compared to fossil fuels. The growing use of hydrogen in chemical sector, refineries, and oil and gas sectors will further fuel the growth of the market. Hydrogen is also used in the food and beverage industry to get rid of bacteria and viruses, which will push the growth of the market. Growing fuel cell demand for residential, automotive, and commercial sectors on account of environmental friendly features will ensure a growth of the global hydrogen generator market. The high sale of electric vehicles will also create a high demand for hydrogen and thus drive the hydrogen generator market. The need to reduce dependence on fossil fuel will also help drive the growth of the global hydrogen generator market.
Q. What are the challenges faced by the global hydrogen generator market?
The lack of storage facility will pose a challenge for the growth of the market. There lies increased risk of transportation of hydrogen and this will also pose a challenge for the hydrogen generator market. In addition to this, the high price of hydrogen as compared to fossil fuels will restrict the growth of the market. Distribution is another challenge that will hamper the growth of the market. On a positive side, the high operational reliability of hydrogen generators will create growth opportunities in the market. The investments in transportation, distribution, storage, and production methods will also drive the growth prospects of the market.
Q. What are the growth opportunities in the market?
The category and flow rate segments will drive the growth of the market. The growing applications of fuel cells are estimated to drive the demand for on-site hydrogen generators. The growing preference for small sized hydrogen generators has become a trend in the industry. On account of the low installation and operation costs, hydrogen generators will be considered increasingly. Low energy consumption is a factor which is increasing the preference for electrolysis process based hydrogen generators for large scale production as opposed to steam reformers process based hydrogen generators.

Oil and Gas Pipeline Leak Detection Equipment Market Driven by Stringent Government Regulations

Although renewable resources of energy have gained substantial popularity in the recent past, there is no foreseeable limitation to the escalating demand for oil and gas, with the growing population and rapid urbanization. Consequently, the demand in the global market for oil and gas pipeline leak detection equipment is projected for a robust CAGR of 6.8% during the forecast period of 2016 to 2024, according to a recent report by Transparency Market Research (TMR). As per the estimations of the TMR report, the global oil and gas pipeline leak detection equipment market will be worth US$3.65 bn by the end of 2024, significantly up from its evaluated valuation of US$2.02 bn in 2015.
Some of the key factors augmenting the demand in the oil and gas pipeline leak detection equipment market are: development and expansion of existing pipelines and construction of new pipelines, increasing incidents of oil and gas leakages in pipeline and storage tanks at production facilities, and stringent government regulations in a number of countries pertaining to the implementation of efficient leak detection systems. On the other hand, retrofitting of some leak detection systems is somewhat hindering the proper prosperity of this market. Nevertheless, the companies operating in the global oil and gas pipeline leak detection equipment market will gain new opportunities in the near future because of rising oil and gas exploration and production and increasing oil and natural gas consumption as well as environmental concerns.
Which segments are most profitable?
Technology-wise, the TMR report segments the global oil and gas pipeline leak detection equipment market into acoustic or ultrasonic, mass-volume balance, vapor sensing, and fiber optics. Among these, mass-volume balance is currently most profitable, having served 39.3% of the demand in 2015, and is expected to remain so, accounting for about 37.4% of the demand by the end of 2024. However, the acoustic or ultrasonic oil and gas pipeline leak detection equipment will gain momentum at most prominent rate during the forecast period, due to economic reliability of the technology. Location-wise, the market has been categorized into onshore and offshore, out of which onshore segment is expected to hold its high profitability, despite the increasing number of offshore oil and gas explorations.
Geographically, the country of the U.S., which has extensive networks of pipeline, makes North America the most lucrative region, accounting for 40% of the demand for the equipment in 2015. Europe and the Middle East and Africa regions too are highly profitable.
How stiff is the competition in the global oil and gas pipeline leak detection equipment market?
The market is moderately consolidated, as per the findings of the TMR report, with top three companies accounting for more than a third of the global demand. These three are: Honeywell International Inc., Siemens AG, and Schneider Electric SE. All these players strategically acquire to maintain their stronghold.

Demand for Testing, Inspection and Certification (T.I.C.) Services to Thrive as Global Imports and Exports See Mounting Rise

Factors such as increasingly stringent regulations pertaining to quality, environmental impact, and health impact of products sold in global marketplace and the rapid pace of globalization, bringing companies from a number of sectors on the global front, are constantly fueling the global market for testing, inspection, and certification services. Portraying a blend of several international and regional regulations and standards, the global testing, inspection, and certification market is witnessing a significant rise in demand as the international market sees a flood of imports and exports.

Companies are required to adhere to a number of quality checks, tests, and gain internationally acceptable certificated to participate in the global marketplace. Strict regulations compelling companies to undertake the necessary set of tests, quality checks, and global certifications are expected to significantly stimulate the global testing, inspection, and certification market in the next few years.

Transparency Market Research (TMR) projects that the global testing, inspection, and certification market will expand at a promising 5.7% CAGR from 2016 to 2024, rising from an opportunity of nearly US$178.65 bn in 2015 to US$285.34 bn by 2024.

In this blog post, TMR analysts highlight some of the key aspects of the global testing, inspection, and certification market:

Which regions will present most promising growth opportunities to the market?

Emerging economies across regions such as Latin America and Asia Pacific are expected to emerge as the most promising growth avenues for the market in the next few years. Factors such as the thriving industrial sector, rising disposable incomes of population, strengthening GDPs, and massive developments on the infrastructure front are collectively boosting the numbers of imports and exports in countries such as Brazil, India, and China. Strict regulations requiring compliance with specific sets of quality checks and tests are requiring companies to put aside funds for testing, inspection, and certification services.

The market in Asia Pacific is expected to dominate the global market in terms of growth rate over the next few years. Demand for testing, inspection, and certification services will majorly be seen in industries such as food and beverages as the level of awareness related to the health benefits of certified products among consumers has significantly improved in the recent past.

How is the vendor landscape of the global testing, inspection, and certification market developing?
The vendor landscape presently is largely fragmented owing to the presence of a number of small and large companies operating across the globe. In 2015, the leading four companies in the market held a cumulative share of mere 29% in the global market, with small and middle level companies accounting for the rest.

The market is intensely competitive and is expected to remain so in the near future as well, with companies resorting to strategies such as geographical expansions and strategic, long-term collaborations with current consumers. A large number of some of the world’s leading testing, inspection, and certification companies reside in Europe, granting the regional market a commanding position. The region is presently the leading revenue contributor to the global market, holding a more than 30% share in 2015.

Oil and Gas Project Management Software Designed to Facilitate Optimum Utilization of Resources in Oil and Gas Sector

Oil and gas companies undertake several projects on a daily basis that involves complex operations, capital management, inventory management, and resource management. Against this backdrop and considering recent growth in the oil and gas industry, the demand for project management software in the sector will witness steep growth in the coming years. These software are high sophisticated and leveraged by companies operating in the oil and gas industry to efficiently manage their capital projects.  

Q: What prompts companies in the oil and gas sector to opt for project management software?

A: Oil and gas project management software provides several benefits to the industry. It enable companies to optimally utilize resources and monitor progress made in a given project. It also helps companies identify potential risks and bring about amenability. Besides this, oil and gas project management software supports companies in reporting and analysis. However, on being specific to the oil and gas industry, paradigm shift toward alternate sources of energy witnessed across an increasing number of nations is creating obstacles for the market. Furthermore, the cavernous gap between the demand and supply of oil and gas is acting as a major restraint for the global oil and gas project management market.

Nonetheless, Transparency Market Research forecasts the global oil and gas project management software market to exhibit a CAGR of 3.6% between 2017 and 2025. At this pace, the market will reach a valuation of US$489.5 mn by the end of 2025.

Q: Which regional markets will offer most lucrative growth opportunities to the market?

A: Among the key regional segments, North America currently holds dominance in the global oil and gas project management software market. The US, which grosses the highest revenue in the sector is currently at the regional market’s fore. Several of the leading market players are domiciled in North America. This coupled with the shale gas boon witnessed in the recent past has provided considerable growth opportunities for the oil and gas project management software market in North America.

Europe has emerged as the second-leading market for oil and gas project management software, the demand for which is primarily high in Scandinavian region and the UK. The massive oil and gas reserves in the North Sea are catalyzing growth in Europe and is expected to continue to do so even in the forthcoming years. Besides this, Asia Pacific will remain a key market, with China and Southeast Asian countries at the fore.

Rapid urbanization witnessed across major economies such as India and China and burgeoning population have spurred the demand for energy in Asia Pacific. According to British Petroleum, Asia Pacific’s share in global energy consumption is expected to rise to 47% by the end of 2035. This is indicative of the immense growth potential of the oil and gas industry in the region thus creating lucrative growth opportunities for the oil and gas project management market in response. In addition, the region has exhibited increased spending in improving infrastructure. These factors are likely to support the market’s growth in the coming years.

Stringent Safety Norms Across Several Industrial Verticals Bolsters Growth

The growing concerns about cyber threats and attack has been the biggest challenge for workplace security. The increasing demand for foolproof asset management and data management have consistently augmented the growth of the global safety service market. According to the research report, the global safety service market is likely to be worth US$4,278.2 mn by the end of 2025. During the forecast period of 2017 and 2025, the market is likely to progress at a CAGR of 11.6%. The growing awareness about the safety of employees across various verticals is also anticipated to boost the growth of the global market in the coming years.

Q. What are the key growth drivers for the global safety service market?

The global safety service market has been growing with the expanding business operations that come with a stringent demand for safety regulations. The increasing need amongst business owners to create a safe working environment for its staff is expected to have a positive influence on the global market. Introduction of several government policies that mandate identification of workplace hazards and protecting the employees from exposure to dangerous materials and situations have also played an instrument role in the growth of the overall market.

In the coming years, the phenomenal adoption of mobility solutions for smooth business operations are also likely to benefit the global safety service market. The improving accessibility to real-time data has given the decision-makers a strong basis for making quick decisions at any time and from any location. Analysts anticipate that the strong presence of players that customize solutions will also determine the success rate of the global safety service market.

Q. What are the key segments determining growth of the global safety service market?

The global safety service market is segmented into software and services. The software segment includes hazard analysis management, incident and action management, data analytics, safety risk assessment, mobile apps, process safety management, and others. On the other hand, the services segment includes project management, consulting, analytics, implementation, auditing and certification, and training. Of these, the service segment is likely to witness a significant growth rate in the coming years. A wide application scope across various end-user industries is expected to drive the growth of this segment. Pharmaceutical, food and beverage, transportation, chemical, petrochemical, wastewater, utilities, and oil and gas are some of the industries that are likely to see heavy adoption of safety service solutions in the near future.

Transparency Market Research observes that competition in the global safety services market to be quite fragmented. The presence of several large and medium-sized players has intensified the competition and given the end-user industries several options to choose from. The growing investment in research and development and a strong pursuit to find innovative solutions are likely to strengthen the revenue-making prospects for the players in the global safety service market.

Rising Consumer Consciousness Regarding Health & Fitness to Boost Global Smart Bottle Market

With a widening application base, the global market for smart bottle has been witnessing a remarkable increase in its size and is anticipated to remain doing so in the near future. The escalating level of awareness regarding health and fitness among consumers is the key factor behind the exceptional growth of this market.

As per Transparency Market Research (TMR), the worldwide smart bottle market stood at US$88.6 mn in 2016. The opportunity in this market is expected to increase significantly at a CAGR of 14.30% over the period from 2016 to 2024, reaching to a value of US$258.8 mn by the end of 2024.

TMR analysts answer some of the important questions about the global market for smart bottles in the blog post:

What are the prime factors that are having positive impact on the global smart bottle market?

The remarkable rise in the pool of tech-savvy consumers and their increasing compliance to pay a higher amount for premium products are fueling the demand for smart bottle across the world. The adoption of smart fitness devices, such as activity trackers and heart rate monitors has significantly surge in the recent past.

With several abilities, such as keeping the consumers updated with the amount of water consumed over a particular period of time and providing information about the required water level in the body, smart water bottles are capturing the attention of health conscious, tech savvy consumers across the world. This, as a result, is reflecting greatly on the global market for smart bottles.

Which of the geographical segments is expected to lead the global smart bottle market?

Thanks to the robust technology embedded production capabilities, North America has surfaced as the leading regional market for smart bottles, among all the geographical segments, including Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North America market for smart bottles is anticipated to remain dominant over the next few years.

Asia Pacific, among other regional markets, is projected to offer the most promising opportunities for growth to the market participants in the years to come, thanks to the exponential rise in the e-commerce industry in this region.

What is the main factor on which the competition in the global smart bottle is based?

The global market for smart bottles is extremely fragmented and dynamic in nature. The rising demand for innovative products and state-of-art connectivity features is the main factor that influences competitive rivalry among the leading players in this market, such as Spritz, Thermos L.L.C., Adheretech Inc., Hidrate Inc., and Myhydrate.

Lucrative opportunities in regional markets, on the grounds of less stringent regulations, have encouraged local vendors to invest heavily in the production of smart bottles, which is also intensifying the competition between them. The competitive scenario is likely to remain same over the forthcoming years in this market.

Alarming Rise in Drug Users in U.S. to Trigger Use of Substance Abuse Treatment

In the U.S., substance abuse is a major concern among the youth in the country. Maximum of the population in the country is getting increasingly addicted to different varieties of drugs, thus impacting their personal health and the life of the people associated to a great extent. With continued drug and alcohol misuse, the pervasiveness of mental illness and several chronic diseases, such as cardiovascular disorders and diabetes, have enlarged markedly among consumers, thus, generating a high financial burden on the country. For controlling this situation, the U.S. government is concentrating on the deploying the early interposition as well as the strategies related to prevention, which is anticipated to drive noteworthy demand for substance abuse treatments, thus, reflecting remarkably on the U.S. market for substance abuse treatment. 

The U.S. market for substance abuse treatment is expected to witness a 12.40% CAGR reaching US$12.43 bn by 2024 from a valuation of US$4.42 bn in 2015. 

Which is the main factor that will boost the market growth?

The U.S. is observing a disturbing rise in the quantity of people hooked to nicotine/tobacco, alcohol, and opioid, resultant to a rising burden on the economy of the country. Thus, the U.S. government has introduced numerous early interference and demonstration strategies to achieve an end to this severe situation, which is expected to boost the acceptance of substance abuse treatment in the country in the years ahead.

Other than this, the market is also likely to take advantage from the growing ingenuities by the foremost earners of substance abuse treatment present in the country, who, in a proposal to recover their customer base, are introducing numerous measures for creating awareness among customers and drug sellers relating to the ill consequence of drug abuse and the reputation of abuse management.

Which is going to be the most adopted treatment?

The crucial treatments for substance abuse, practiced in the U.S. are tobacco or nicotine addiction treatment, drug abuse treatment, and alcohol addiction treatment. Drug abuse treatment has projected an extensive demand from a plethora end users than the other substance abuse treatments. Merchandise innovation in buprenorphine pills and film and the current launch of buprenorphine implants are expected to lift the drug abuse treatment segment at a fast pace in the coming years. 

Who are the key users of substance abuse treatment?

Outpatient treatment centers, inpatient treatment centers, and residential treatment centers have textured as the main end users of substance abuse treatment in the U.S. Amongst these, the demand for these cures is sophisticated in outpatient treatment centers and is expected to continue as the leading one in the years yet to come owing to the growing popularity of outpatient rehab centers across the nation.  

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