How Frequent Power Cuts Are Propelling Indonesia Diesel Genset Market?

The estimated revenue of the Indonesian diesel genset market was $339.9 million in 2021, and it is set to grow at a CAGR of 4.5% during 2021−2030, to reach $504.5 million by 2030. It will mainly be due to a growth of the industrial and construction sectors, an increase in the prevalence of power cuts, and boom in the telecom sector. Across the country, gensets are a key necessity for producing electricity for non-stop operations.

In 2021, the largest share in the Indonesian diesel genset market was attributed to the residential sector, where frequent power cuts were the primary reason. Apart from this, the increasing number of residential complexes in the country has contributed significantly to the increase in the demand for diesel gensets in the residential sector. Like most developing countries, Indonesia faces a gross shortage in housing, which is why residential units are being constructed on war footing.

In terms of revenue, it is expected that the Indonesian diesel genset market for above-750kVA diesel gensets will progress with more than 5% CAGR during the forecast period. This has a lot to do with the increasing demand for heavy-duty applications in major industries, such as oil & gas, mining, manufacturing, and construction. This is the reason KOHLER Co. has presented the KOHLER eFRAME industrial generator inserts for data centers.

Key Indonesian diesel genset market players are actively taking part in launching new and advanced gensets to cater to a wider consumer base. For instance, the launch of the C500D6 (60 Hz) and C550D5 (50 Hz) series DG sets for standby and prime power applications was announced by Cummins Inc. in January 2022. In September 2021, the company also revealed the NEW EC-AGS+ wireless control system for its Onan diesel and gas generator sets in Hershey, Pennsylvania.

Hence, the market will experience high growth due to the constant power outages and growth of the telecom sector.

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Growing EV Sales Driving Lithium-Ion Battery Recycling Activities

According to the United Nations, 25% of the global greenhouse emissions are caused due to transportation systems. Governments across the world are therefore promoting electric vehicles over those driven by hydrocarbons. It is resulting in the increasing demand for lithium-ion batteries, as they are the primary energy source of BEVs. However, used batteries pose a risk to the environment and can cause a fire or poisoning. The disposal of lithium-ion batteries from EVs is thus a real challenge, which increases the scope of the battery recycling technology.

As a result, the lithium-ion battery recycling market is expected to reach a value of $991.5 million by the year 2030. Various materials are used as electrodes in these devices, such as a combination of lithium and cobalt oxide in the cathode and graphite in the anode. Moreover, lithium–manganese oxide and lithium–iron phosphate are other cathode materials. Ether is the most-commonly used electrolyte in Li-ion batteries, which are extensively utilized in electrical energy storage systems, electronic devices, and small and large appliances, apart from EVs.

The leachate inside the lithium-ion battery is hazardous to organisms; it seeps with rainwater inside the ground and contaminates the surroundings. The leachates contain pollutants such as heavy metals, electrolyte degradation by-products, additives, as well as dissolved gases, such as SO2, HF, or HCl. Such chemicals are not only outright toxic but also alter the properties of groundwater, by polluting it. The acidification poses the same threat as acid rain; it lowers the pH and thus affects the plants and animals.

The increasing adoption of smart electronic gadgets by the middle-class population, due to the changes in its lifestyle, drives the demand for Li-ion batteries. Moreover, the extensive investment in the IT sector leads to a high demand for consumer electronics, thus resulting in a surge in the requirement for such power sources. Additionally, the higher energy density of these energy storage devices gives them a long operational life, which is imperative for portable consumer electronics.

Therefore, the demand for the recycling of lithium-ion batteries is rising due to environmental concerns and the limited reserve of lithium. The underground disposed of batteries can slowly burn for long periods, leading to further contamination of the surroundings by harmful chemicals.

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Surging Popularity of Barbecued Foods Fueling Charcoal Sales in North America

The ballooning popularity of barbecuing and grilling is pushing up the demand for charcoal in North America. With the growing public awareness about health and fitness, the adoption of healthy lifestyles and eating habits is rising sharply in the region. This is consequently fueling the demand for grilled and barbecued food items, as they are easy to prepare, low in fat, and retain most of their nutritional content after cooking. 

Moreover, the rising culture of hosting get-togethers with friends and family in the open is boosting the demand for these foods in the region. Apart from this, the extensive usage of activated charcoal in water treatment processes is also propelling the demand for charcoal in North America. Due to the increasing pollution of water bodies, the governments of several North American countries are enacting strict laws regarding waste treatment and water treatment control.

The United States Environmental Protection Agency and various other agencies and regulatory bodies in the region are recommending using activated charcoal as a cost-effective agent to eliminate toxic materials and chemical impurities from water. Activated charcoal removes these impurities from water via surface absorption. Due to this factor, the demand for charcoal is surging sharply in the region, which is, in turn, driving the advancement of the North American charcoal market.

As a result, the market is predicted to generate a revenue of $466.6 million by 2030. Sugar, Japanese, lump, and briquettes are the major types of charcoal used in North America. Out of these, the demand for lump charcoal was found to be the highest in the region in 2020, and this trend is predicted to continue in the coming years as well. This is credited to the extensive utilization of this charcoal variant in metallurgical processes. 

In North America, the demand for charcoal was found to be the highest in the U.S during the past few years, and the situation will not change in the future, as per the estimates of the market research firm, P&S Intelligence. This will be due to the material’s eco-friendliness and the surging popularity of grilled food items in the country. Additionally, the extensive usage of the material in restaurants and specialty bakeries is also fueling its sales in the country. 

Hence, it is safe to say that the demand for charcoal will shoot up in North America in the coming years, primarily because of the mushrooming popularity of grilled and barbecued food items and the soaring usage of activated charcoal in water treatment plants in the region.

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Asia-Pacific Mobile Cranes Market To Prosper in Near Future

From $13.0 billion in 2020, the global mobile cranes market value is predicted to surge sharply by 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being propelled by various factors, such as the surging construction activities and rapid industrialization, especially in emerging economies. In addition, the growing adoption of the global positioning system (GPS) technology is also driving the growth of the market across the globe. 

With the mushrooming population all over the world, the governments of many countries are making huge investments in large-scale infrastructure development and construction projects. In addition, due to the soaring purchasing power of people, increasing government efforts for providing affordable housing, and rapid urbanization, huge investments are being made in the construction of apartments, hotels, offices, civic infrastructure facilities, and retail centers. For example, the Indian government allocated a budget of $212.8 billion in April 2020 for the development of roads over the next two years. 

Furthermore, the changing lifestyles of people, especially in developing nations, are also fueling the requirement for housing, which is, in turn, propelling the demand for mobile cranes. Depending on type, the mobile cranes market is divided into side-lifter, rough-terrain, crawler crane, telescopic handler, all-terrain, and truck-mounted categories. Out of these, the truck-mounted category contributed the highest revenue to the market in the past. This was because of the high requirement for the movability and flexibility of construction equipment in order to facilitate faster infrastructure development. 

When application is taken into consideration, the market is classified into industrial, utility, and construction. Amongst these, the construction category dominated the market in the past years. This is ascribed to the surging renovation and construction activities around the world. Furthermore, the rapid construction of pavements, rail and road bridges, and high-rise buildings is also propelling the progress of the category in the market. Across the globe, the Asia-Pacific region is predicted to generate the highest revenue in the mobile cranes market in the coming years.

Hence, the demand for mobile cranes will surge sharply in the coming years, primarily because of the increasing construction and infrastructure development activities and rapid industrialization and urbanization across the globe. 

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How Will Extensive Food Demand Strengthen Seed Treatment Market?

A number of factors such as the burgeoning demand for basic grains and vegetables on account of the booming population, increasing support of governments and private organizations for the agriculture sector, soaring need for biofuels, and surging use of technologically advanced solutions are expected to propel the seed treatment market growth in this decade. In recent years, technological advancements in seed coating delivery systems have become a prominent market trend.

The rising need for basic grains and vegetables, owing to the booming global population, will drive the global demand for seed treatment products in the coming years. As per the UNFPA, the global population will grow from 7.7 billion in 2019 to approximately 9.7 billion by 2050 and nearly 11 billion around 2100. Population boom will create a huge requirement for seed treatment products, as good quality seeds are the basic need to increase crop production and its quality.

According to P&S Intelligence, the cereals and grains category, within the crop type, held the largest share in the seed treatment industry in 2020, and it is also expected to retain its dominance in the coming years. This can be attributed to the soaring per capita income and the booming population. With a surge in per capita income, people around the world are consuming a high volume of barley, sorghum, ragi, corn, and rice. Additionally, the increasing urbanization rate and the changing customer taste, occupational structures, and lifestyle will also boost the market growth in this category. 

Presently, the seed treatment industry is dominated by Adama Ltd., Bayer AG, BASF SE, Corteva Inc., Croda International Plc, Eastman Chemical Company, FMC Corporation, Nufarm Limited, Novozymes A/S, and Syngenta AG. Nowadays, these players are actively focusing on product launches to consolidate their position. For instance, in March 2020, Corteva Inc. unveiled Lumivia CPL, a non- neonicotinoid-based seed treatment product, to protect the seeds of lentils, cereals, and peas from pests.

Thus, the booming need for food products and biofuels will drive the demand for seed treatment products, worldwide. 

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Why is European Water Pump Market Booming in Germany?

The European water pump market revenue stood at $707.2 million in 2020, and it is predicted to surge to $848.3 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 1.8% from 2020 to 2030 (forecast period). The major factors driving the expansion of the market are the rapid depletion of ground water level, increasing consumer spending, surging infrastructure development activities, and rapid urbanization in the region.

Rapid urbanization is one of the major European water pump market growth drivers. As per the World Bank, the urban population in the European Union member countries surged from 322 million in 2010 to 335 million in 2020. Additionally, according to the organization, the share of the urban population in the total population of the region increased to 74.9% in 2020 from 73.9% in 2015. Hence, with the rising urbanization rate, many governments are increasingly focusing on developing better infrastructure, as the booming population is creating pressure on the already existing drinking water and utility water infrastructure of the region.

Germany dominated the European water pump market in the past. This was because of the enactment of stringent wastewater treatment policies, which domestic sewage treatment plants are required to adhere to. In addition, as per EUROPUMP, which is also called the European Association of Pump Manufacturers, the demand for reducing the energy consumption of pumps will propel the need for energy-efficient water pumps, which will, in turn, fuel the growth of the regional market in the coming years. 

Thus, it can be concluded from the above paragraphs that the sales of water pumps will shoot up in Europe in the years to come, primarily because of the rapid urbanization, depletion of ground water level, and increasing implementation of massive infrastructure development initiatives by the governments of several countries in the region.

Read More: https://www.psmarketresearch.com/market-analysis/europe-water-pump-market

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Why is Electric Motor Market Expanding Rapidly in Asia-Pacific?

The global electric motor market revenue stood at $105.5 billion in 2020, and it is predicted to surge to $195.1 billion by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 6.3% from 2020 to 2030. The major factors fueling the expansion of the market are the growing compliance for energy-efficient electric motors, surging deployment of electric vehicles (EVs), and mushrooming use of electric motors for various applications.

The adoption of EVs has increased massively in recent years, primarily because of the surging concerns over the rapid environmental degradation. As per the International Energy Agency (IEA), the sales of electric cars grew from 2.1 million in 2019 to 3.24 million in 2020. Moreover, as per the Electric Vehicle Outlook 2020 report, the share of EVs in the global sales was 3% in 2020 and it is predicted to rise to 7% by 2023, with sales of nearly 5.4 million.

As electric motors are crucial components of EVs, the growing deployment of these new energy vehicles is positively impacting the growth of the electric motor market. The other major factor driving the expansion of the market is the ballooning adoption of energy-efficient electric motors, on account of the burgeoning requirement for reducing energy consumption by various high-power consuming industries. Electric motors account for nearly 70% share in the total energy consumption in a manufacturing industry. As electric motors are responsible for almost half of the energy consumption in a manufacturing industry, these industries are rapidly deploying energy-efficient electric motors.

The players operating in the industry are focusing on mergers and acquisitions in order to strengthen their position. For example, AMETEK Inc. acquired EGS Automation, Crank Software, and Magnetrol International in March 2021. The organization spent around $270 million in the acquisition of these firms, which recorded annual sales of around $120 million. With the help of this acquisition, Magnetrol International expanded AMETEK’s level measurement solutions portfolio, EGS Automation enhanced AMETEK’s automation solutions portfolio, and Crank Software provided graphical user interface design capabilities to AMETEK.

Hence, the market will exhibit huge expansion in the forthcoming years, mainly because of the growing deployment of EVs all over the world.

Read more: https://www.psmarketresearch.com/market-analysis/electric-motor-market

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