Hydraulic Fracturing Market Is Expected To Reach USD 81.10 Billion By 2024, Growing At A CAGR Of 7.6% From 2016 To 2024: Grand View Research, Inc.

The global hydraulic fracturing market is expected to reach USD 81.10 billion by 2024, according to a new report by Grand View Research, Inc. Growing E&P companies’ concern towards declining production rates in conventional hydrocarbon reserves along with shifting focus towards developing unconventional oil & gas blocks globally is anticipated to drive the market growth.

Favorable initiatives by the U.S. and Chinese government in the form of financial aids, tax incentives and easy provision of FDI in the hydrocarbon sector are estimated to steer the industry expansion over the next few years. Several bans, moratoriums and pubic concerns regarding environmental impacts of the technology particularly in counties including France, Tunisia, Bulgaria, Romania, and South Africa are expected to remain key challenges for the industry participants over the forecast period.

Plug & perf technology dominated the global hydraulic fracturing market accounting for over 80% of the total revenue in 2015. The technique enables multistage fracking in cased holes and is widely used in tight oil and shale completions particularly in the U.S.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/hydraulic-fracturing-market

Further key findings from the report suggest:

·         Proppants emerged as the largest fracturing materials with net revenue expected to exceed USD 14.0 billion by 2024. Ceramic proppants are anticipated to grow at an estimated CAGR of 7.6% from 2016 to 2024.

·         Shale gas dominated the global demand and accounted for 30.2% of the total hydraulic fracturing revenue in 2015. The emergence of the shale boom in the U.S. along with increasing acreage of shale basins globally particularly in China and Canada is expected to drive market growth in the segment. The U.S. hydraulic fracturing demand in tight gas formations was valued at USD 6.01 billion in 2015 and is expected to grow at a CAGR of 8.7% from 2016 to 2024.

·         North America hydrofracking industry dominated the global demand and is anticipated to remain the largest regional market over the forecast period. The regional market is anticipated to witness moderate growth over the next eight years to exceed a net worth of USD 65.0 billion by 2024.

·         Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to large available technically recoverable unconventional oil & gas reserves and increasing FDI flow in the hydrocarbon sector in China, India, and Australia. The region accounted for 6.6% of the global revenue in 2015 and is expected to grow at a CAGR of 12.1% over the next eight years.

·         The global hydraulic fracturing market was dominated by major oilfield services companies including Baker Hughes, Schlumberger, Halliburton, Weatherford, Calfrac Well Services, Cudd Energy and FTS International.

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Grand View Research has segmented the hydraulic fracturing market on the basis of technology, material, application and region:

Global Hydraulic Fracturing Technology Outlook (Revenue, USD Million, 2014 - 2024)

·         Plug & Perf

·         Sliding Sleeve

Global Hydraulic Fracturing Material Outlook (Revenue, USD Million, 2014 - 2024)

·         Proppant

·         Sand

·         Ceramic

·         Resin Coated Sand

·         Others

Global Hydraulic Fracturing Application Outlook (Revenue, USD Million, 2014 - 2024)

·         Shale Gas

·         Tight Gas

·         Tight Oil

·         CBM

·         Others

Global Hydraulic Fracturing Regional Outlook (Revenue, USD Million, 2014 - 2024)

·         North America

·         U.S.

·         Canada

·         Mexico

·         Europe

·         UK

·         Russia

·         Poland

·         Asia Pacific

·         China

·         Australia

·         Middle East & Africa

·         UAE

·         Algeria

·         South Africa

·         Central & South America

·         Brazil

·         Argentina

·         Venezuela

Battery Market to represent US$132.55 bn Opportunity Globally by 2024

The global battery market is expected to reach USD 132.55 billion by 2024, according to a new report by Grand View Research, Inc. Majorly consisting of primary and secondary batteries, the growth will be attributed to growing demand for secondary batteries that are rechargeable on account of rising demand for smart gadgets and electronics such as tablets, smartphone and other portable devices including the digital camera and laptop.
Technological advancements in terms of cost reduction and enhanced efficiency are expected to open new avenues for the global market over the forecast period. Rising use in aircraft emergency systems in case of non-availability of APU’s for braking, ground operations and restarting the APU is expected to fuel high capacity battery demand. Low cost and high density of lead acid battery will encourage use in an emergency power supply and grid storage applications thus supplementing the market growth.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/battery-market

Further key findings from the report suggest:

·         Li-ion based batteries are expected to emerge as the most dominant segment owing to the growing demand in the automotive industry coupled with portable devices and electric power trains. The auto industry is experiencing high growth in plug-in hybrid and electric vehicles segment which is expected to propel demand. In addition, successful commercialization and lucrative incentives have been encouraging OEMs to introduce new hybrid and electric models in the market.

·         Ni–Cd batteries find applications in portables devices such as wireless & cordless telephones and emergency lighting, rising use for which will drive market demand. Growing application scope in railways for emergency braking, locomotive starting, air-conditioning, coach lighting and power for signaling will further propel growth.

·         Industrial application accounted for over 30.0% of the global market in 2015. The industrial application includes wheelchairs, golf carts, aviation, satellites, grid storage, forklifts and power tools. Rising energy requirements have resulted in increased use of storage applications on grid and off grid which has directly impacted demand for battery storage systems. Rapid industrialization in emerging economies of Asia Pacific and Latin America will utilize batteries in UPS devices, material handling systems, and power tools thus fueling market demand.

·         Asia Pacific dominated the global battery market with revenue over USD 23.00 billion in 2015 on account of the presence of a majority of manufacturers in Japan and South Korea. Budding consumer electronics industry in India, Malaysia, Singapore and Thailand is expected to result in high demand for lithium-ion batteries in the next eight years. Increasing automobile production in India and China is projected to propel demand for lead acid batteries in the near future. In addition, laxity for regulations in these countries regarding automotive emissions and fuel efficiency is expected to provide immense potential for market growth.

·         The global industry includes major conglomerates such as Hitachi, Sony, LG, Panasonic and GS Yuasa. Companies are moving towards lithium ion battery manufacturing owing to high potential in consumer electronics and electric vehicle market. Key companies are engaged in manufacturing of batteries with varying capacities suitable for different applications. Automotive Energy Supply Corporation and Panasonic are major shareholders in the lithium-ion electric vehicle segment. In February 2016, Johnson Controls Inc. made investments in its facility in Germany to improve its production capacity.

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Grand View Research has segmented the global battery market on the basis of product, application and region:
Battery Product Outlook (Revenue, USD Million, 2013 - 2024)

·         Lead Acid

·         Lithium ion

·         Nickel Metal Hydride

·         Nickel Cadmium

·         Others

Battery Application Outlook (Revenue, USD Million, 2013 - 2024)

·         Automobile

·         Industrial

·         Portable

Battery Regional Outlook (Revenue, USD Million, 22013 - 2024)

·         North America     

·         U.S.

·         Europe     

·         Germany

·         UK

·         Asia Pacific

·         China

·         Japan

·         Latin America

·         Brazil

·         MEA

U.S. Solar PV Market is expected to grow at a CAGR of 15.5% from 2015 to 2022

U.S. solar PV market is expected to reach to reach 60 GW by 2022. Rising demand for PV panels in residential and commercial segments is projected to drive industry growth. Also, favorable regulatory framework coupled with incentives is anticipated to augment further the growth. Furthermore, the decline in module prices owing to federal subsidies and rise in the number of module installation is expected to drive growth over the forecast period. Falling raw material prices along with improved manufacturing processes for manufacturing solar cells is expected to bolster market growth.
Utility accounted for over 50% of the P.V. market installation in 2014. Also, the non-residential segment is also projected to witness substantial growth at a CAGR of over 14% during the forecast period. This increase can be attributed to federal subsidies and state incentives. Furthermore, rising awareness among people regarding environmental protection is projected to boost Solar PV industry over the forecast period.
The residential sector witnessed significant growth over the past few years owing to rising consumer awareness and subsidized module cost. Furthermore, the low maintenance cost of solar panel in comparison to other power generating units is expected to drive demand in a residential application. Moreover, Investment Tax Credit is further projected to augment growth till 2016.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/u-s-solar-pv-market

Further key findings from the report suggest:

·         California had the largest installed capacity of 7,815 MW in 2014 owing to the exposure to superior solar irradiance and rising number of installation in utility and residential sectors. In addition, tax subsidies provided by the state are expected to result further in high demand for Solar PV installations over the next few years. Furthermore, with the large-scale installation of Solar PV in California, there is a steep decline in equipment cost which is projected to spur growth in the region. 

·         North Carolina is expected to witness high growth over the forecast period owing to rise in some residential installations. Moreover, high power price in North Carolina as compared to other states such as Kentucky, Washington, and Louisiana is further expected to bolster growth in the region. 

·         Some of the major market players in the industry are Auxin Solar, Itek Energy, Green Brilliance, First Solar, Lumos, SunPower, Advance Power, BORG Inc., Pionis Energy, Solar Cynergy, Solar World, Suniva, 1Soltech, Alps Technology and Zebra Energy. 

·         First Solar implements cadmium telluride thin film technology which offers increased yield and high-performance efficiency as compared to monocrystalline and polycrystalline modules. Furthermore, the production costs of Cadmium Telluride are lower than other modules, making it favorable among solar PV installers.

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Grand View Research has segmented the U.S. solar PV market on the basis of application and state:
U.S. Solar PV Application Outlook (Installed Capacity, GW; Shipments, Units, 2012 - 2022)

·         Residential

·         Non-Residential

·         Utility

U.S. Solar PV State Outlook (Installed Capacity, GW; Shipments, Units, 2012 - 2022)

·         California

·         Arizona

·         New Jersey

·         North Carolina

·         Nevada

·         Massachusetts

·         Hawaii

·         Colorado

·         New York

·         Texas