Wave and Tidal Energy Market Will Expect To Reach USD 3.9 Billion By 2025

 Global Wave and Tidal Energy Market is expected to reach USD 3.9 billion by 2025 as the scope, product types and its applications are increasing across the globe. Wave energy implies to the energy of the ocean surface waves, which is captured for desalination, the pumping of water into reservoirs and electricity generation. It is considered to be the most promising green technologies, and Wave and Tidal Energy generate the most intense source of renewable energy. Oceans are an endless source of clean energy. Wave and tidal energy market is expected to grow at a CAGR of 42.5% in the upcoming period.

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As such, connecting tidal and wave energy from the ocean surfaces is the most supportive source of energy. Economies across the globe are inclined toward usage of these forms of renewable energy as these offer a continuous and stable source of clean energy. Abundance of ocean surface and energy generation volume in numerous countries has helped governments to follow ocean energy generation as a significant source of renewable energy in years to come.

Moreover, the wave and tidal energy is witnessing maximum demand due to rise in development of the initiatives across countries, which results in reduction of price with respect to electricity. Furthermore, increase in funds and new rules by local governments helps the skill inventors for fast commercialization of their energy converters. On the other hand, the factors such as environmental and socio-economic barriers and high cost are expected to hamper the growth of the market over the forthcoming period.

Wave and Tidal Energy Market may be explored by type, technology, end users, and geography. Wave and Tidal Energy may be explored by type as Wave Power plants, and Tidal Power Plants. The “Tidal Power Plants” of Wave and Tidal Energy is the dominant type of the market in 2016, The conversion of kinetic energy into electricity is mainly done with the help of “Tidal Stream”. As compared to Wave Power plants, the Tidal Power Plants may have higher R&D investments.

Wave and Tidal Energy may be explored by Technology as Pendulor Device, Tidal Stream Generator, Barrage, Oscillating Water Columns, and Others (Lagoon and Turbine). Wave and Tidal Energy may be explored by end users as Residential, Industrial, and Commercial. Asia-Pacific has been at the forefront with regards to wave and tidal energy industry and will continue to rule the roost in the years to come. The Asia Pacific accounted for the major share of 39% of the global volume in 2016. The region is estimated to continue to be the foremost user over the forthcoming period due to increase in the environmental rules, public funding programs, competition, and government policies are expected to facilitate the growth of market in this region.

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Asia-Pacific is looked upon as the most attractive and major market for Wave and Tidal Energy all over the world. Significant development of the accessibility of incomes, awareness amongst the population, economy, and growth in open test places are estimated to drive the market throughout the upcoming period. Asia-Pacific is followed by the North America.

Some of the key players that fuel the growth of the wave and tidal energy market include S.D.E. Energy Ltd. (WERPO Wave Energy), Carnegie Wave Energy Ltd., Tenax Energy, Ocean Power Technologies, Inc., Atlantis Resources Ltd., AquaGen Technologies, Pelamis Wave Power Ltd., Ocean Renewable Power Company LLC, Aquamarine Power Ltd, and Marine Current Turbines Ltd. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

Market Segment:

Wave and Tidal Energy Type Outlook (Installed Capacity, Megawatt; Revenue, USD Million, 2014 - 2025)
• Wave
• Tidal

Wave and Tidal Energy Regional Outlook (Installed Capacity, Megawatt; Revenue, USD Million, 2014 - 2025)
• North America
• Canada
• Europe
• U.K.
• France
• Asia Pacific
• China
• South Korea

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Thin Film Photovoltaics Market Will Experience Brisk Over The Forecast Period

 Global Thin Film Photovoltaics (PV) market is expected to grow significantly over the forecast period owing to the speedy advancements in thin film technology. The most common types of PV cells used worldwide are thin film PV cells and crystalline silicon. Formerly, market was ruled by crystalline silicon PV cells. However, thin film has gained popularity in the recent past. Thin film PV primarily consists of copper-indium diselenide (CIS), amorphous silicon (a-Si), cadmium telluride (CdTe) and copper indium gallium diselenide (CIGS).

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Photovoltaics are also known as solar cells. They are electronic devices which directly converts sunlight into electricity. Thin film photovoltaics are made by putting one or more thin layers of photovoltaic (PV) material on a substrate such as plastic, metal or glass. Thickness of the film can range from few nanometers to micrometers. This is relatively thinner than its competitor’s crystalline silicon solar cells technology which uses wafers up to 200 micrometers. This permits thin film cells to be lower in weight, flexible and have less friction or drag. It can be used as a semi-transparent photovoltaic glazing material that can be plastic-coated on the windows.

Photovoltaics incur relatively less operating costs and are reliable, safe and can be easily installed. The quest for economical technology for generating electricity attracted major investors and corporations towards thin film PV – advanced technologies industry. The industry witnessed over 100 companies entering into the market. There was a growing need for thin film PV advanced technologies to constantly increase its productivity. This led to high energy production and lower system costs. Manufacturing costs must also be pulled down to attain competitive pricing. The growth of global thin film photovoltaics – advanced technologies market is driven by optimal efficiency and low manufacturing costs of PV cells.

There has been an increased alarm about change in climate and alternative sources of energy, which is expected to augment the demand for thin film PV – advanced technologies. Higher yields of thin film photovoltaic for shadow, weak lighting conditions and installation options that are visually attractive are expected to drive the industry. Market is poised for growth owing to the incentives and funding provided by the government for adopting solar energy so as to generate electricity. Factors such as low consumption of silicon, building mounted systems, initiatives by the government and the ground emergence may favorably impact the market growth. The year 2015 saw installations of around 52 gigawatts (GW) of new capacities all over the world.

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However, multi junction PV cells and low conversion efficiency are anticipated to restrain market growth. Few other factors such as high costs of capital, poor maintenance and poor installation are expected to create major hindrance for thin film PV – advanced technologies demand in the market. Global thin film PV – advanced technologies market is segmented based on its type which includes organic and inorganic photovoltaics. Based on its application, thin film PV market is segmented into utility, military, consumer, residential and non-residential sectors. Furthermore, the utility sector is sub-characterized into power plant application, industrial applications, military and defense applications. Power supply connected to the line grid is anticipated to be the market leader of thin film PV over the forecast period.

The European region has been leading the market of thin film photovoltaics over the past few years. Countries such as Italy, Spain and Germany majorly witnessed an increased demand of solar energy making Europe the market leader. North America and Europe have been projected to witness a very high growth rate over the forecast period owing to early adoption of advancements in the technology. Asia Pacific is also expected to follow North America and Europe as there has been an increased adoption of semiconductors by the electronics industry. Emerging economies such as India, China, Africa and Brazil are projected to show their presence in the market over the next seven years.

Key industry participants are coming up with innovative techniques to cater to the existing hindrances in the market. Major industry participants in the thin film PV – advanced technologies market include Kaneka Corporation, Unisolar, First Solar, Bosh Solar, Kyocera Corporation, Mitsubishi Electric Corporation, Panasonic Corporation ReneSola Co. Ltd., Jinko Solar, Yingli Green Treena Solar, Kaneka corporation, Sharp Corporation, JA Solar Co. Ltd. and Suntech Power Holdings Co. Ltd. In due course, global thin film photovoltaics –advanced technologies market is expected to outshine the dominating conventional solar photovoltaic technology. This will enable the long coveted objective of grid parity.

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Liquefied Natural Gas (LNG) Market Analysis and Trends to 2025

 Synopsis:

The global Liquefied Natural Gas (LNG) Market is projected to reach US$ 20.6 billion by 2025 with a CAGR of 12.7% during the completion of the prediction period. Liquefied Natural Gas implies a collection of gases, largely of methane and additional gases for example Nitrogen, Propane, Butane, and Ethane. It has been chilled to a state of liquid. It is stored at a temperature of approx. -260° Fahrenheit, for the purpose of storing and transport. The size of natural gas, in the form of its liquid condition, is around 600 times lesser than the size of its gasiform state. This procedure makes it possible to carrying natural gas to the locations where the pipelines are not reachable.

Wherever the transportation of the natural gas, by way of pipeline, is not possible it is carried in its liquefying state, for a lengthier distance to those marketplaces, which are excessively far away from the areas of production and cannot be directly connected to the pipelines. The natural gas is able to be transported in specific tankers to the depots all over the world, in its compacted liquid form. At these stations, the liquefied natural gas is reverted to its gassy state and conveyed by way of pipeline to plants of power generation, supply companies, and industrialized customers.

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Aimed at huge capacity marine transportation, liquefied natural gas is laden on ships having dual body. These are utilized for insulation and safety purposes together. When the ship reaches at the delivery harbor, liquefied natural gas is relieved of into finely protected storing tanks, and then again gasified for entering into the grid of pipeline circulation.

It can, likewise be transported in lesser capacities, frequently over smaller marine distances. There is an increasing use of lesser scale deliveries of liquefied natural gas. These are, most frequently, completed utilizing the similar vessels on trucks and in transnational trade, particularly prepared with cryogenic containers.

This natural gas is utilized in a number of businesses comprising rotary kilns, manufacturing, fluid bed dryers, construction, sector of power generation, mining, food processing, furnaces, and dairy products. Apart from businesses, owing to low percentage of release of carbon, it is likewise utilized as an alternate fuel in a number of transportation methods for example vehicles run on natural gas, ships, trucks, and rails. It is likewise utilized by domestic consumers for the purpose of heating and cooking.

Drivers and Restraints:

The global liquefied natural gas market is estimated to propagate by way of increasing consumption of energy, increasing municipal inhabitants, growing demand for natural gas-powered automobiles, fast-tracking of financial development, and growing inclination for liquefied natural gas in emerging financial prudence.

Important inclinations and developments of this market comprise growing export of this natural gas, additions of capacities, mounting demand for liquefied natural gas bunkering, rolling developments, increasing commercial market and growing change in the direction of modular equipment.

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Classification:

The global liquefied natural gas industry can be classified by End Users and Region. By End Users, it can be classified as Industrial, Power Generation, and others.

Regional Lookout:

By Region, the global LNG market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific has appeared as the most important area for the liquefied natural gas owing to growing capability of liquefaction and exports, along with growing imports by South Korea, China, and India.

Companies:

Some of the important companies for liquefied natural gas market are Chevron Corporation, Exxon Mobil Corporation, British Petroleum Plc, Royal Dutch Shell Plc., CNOOC, China National Petroleum, Veresen Inc., Qatar Petroleum, Dominion Resources, Cheniere Energy, BG Group plc, Sinopec Group, Woodside Petroleum, Sempra Energy, Kinder Morgan, ConocoPhillips, Apache Corporation, and Qatar gas Operating Company.

Market Segment:

LNG Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Power Generation
• Transportation Fuel
• Mining & Industrial Applications

LNG Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Qatar

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