Bloom Energy Corporation, a California-based manufacturer in the stationary fuel cell systems market, recently announced that it will receive a project funding of over US$ 100 million from Key Equipment Finance, a bank-held equipment finance company.

The stationary fuel cell systems market will record a hefty 17.9% y-o-y over 2018 to reach over US$ 2,159 million by the end of 2019, reveals a recent market study published by Fact.MR. The study offers a holistic assessment on various market dynamics and macro and micro-economic factors that are influencing adoption of stationary fuel cell systems in various industrial verticals.

Combined heat and power (CHP) or cogeneration is one of the most common applications of stationary fuel cell systems, which accounted for the largest revenue share of over 45% in 2018, according to the Fact.MR study.

“CHP is one of the most commonly used stationary power generation systems installed to generate electricity as well as heat. In the modern days, fuel cells are widely used in the manufacturing of CHP, which acts of the leading driving force for the growth of the stationary fuel cell systems market,” said a lead analyst at Fact.MR.

“When stationary fuel cell systems are incorporated in CHP, it offers extraordinary benefits in terms of efficiency, sustainability, reliability, and cost-efficiency.

As compared to conventional power generation methods, which commonly involve combustion engines, CHP is considered environment-friendly and highly efficient, which is boosting adoption of stationary fuel cell systems among CHP manufacturers across the world.”

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Apart from the efficiency- and sustainability-related benefits of incorporating stationary fuel cell systems in CHP, subsidies and incentives offered by governing bodies in various regions is providing a fillip to the global demand for stationary fuel cell systems in the CHP industrial sector.

For example, the U.S. Environmental Protection Agency (EPA) removed policy barriers for CHP projects in the region, and it is establishing partnerships with CHP stakeholders to provide them with necessary resources, tools, and policy information.

The positive growth environments for CHP applications in various regions is expected to generate most lucrative opportunities for players in the stationary fuel cell systems market. Consumers’ awareness and favorable regularity framework for CHP is expected to make it the most popular application of stationary fuel cell systems in the upcoming years.

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The top 6 players in the oil refining pumps market account for nearly 45% share. With diverse product portfolio, leading players in oil refining pumps market are planning to consolidate their position globally. New product launches, acquisitions.

The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand.

The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela.

The demand for centrifugal pumps is constantly rising in upstream oil and gas industry in multiphase or tri-phase pumping application. With the increasing demand for oil, especially in developing regions, transporting a large amount of liquid has become necessary to ensure operational efficiency.

This is driving the demand for centrifugal pumps to transport a significant amount of liquid in a short period.

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APAC to Continue Strong Position in Oil Refining Pumps Market

The Fact.MR study projects that APAC continues to register significant growth in the oil refining pumps market and is likely to account for over 40% of total demand by 2018 end. The positive outlook in the region can be attributed to the growing demand for diesel and gasoline in emerging nations like India and China.

The upgradation of existing oil refineries and robust investment in the construction of new oil refineries is fueling the growth in the oil refining pumps market in the region. Rising oil demand and faced with strict emission regulations, India is also moving towards development of new and modern refineries.

According to the International Energy Agency (IEA’s) latest World Outlook Projection, India’s refining capacity is likely to grow by two-thirds in the next 25 years. This is expected to make India world’s third largest refining center by 2040, following the US and China.

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Leading players in the power generation pumps market are primarily focusing on new product development. Gaining competitive advantage and adding more value to the existing product line, companies are developing new products to meet the evolving need.

The power generation pumps market is likely to witness steady growth, with global demand expected to exceed 4 million units by the end of 2018. The growth in the power generation pumps market is influenced by rising energy demand, especially in the developing regions. Integration of new technologies including sensors to monitor different parameters in the power generation pumps is also on a rise.

Providing high flow rate with a capacity of handling large quantities of fluids, centrifugal pumps are widely used in the power generation plants. The demand for centrifugal pumps is likely to be influenced by its various features, such as small size and low costs.

Demand for centrifugal pumps is expected to increase in the Asia Pacific region, especially in China, India, and Japan. Rising demand for power supply and favorable government policies are driving the demand for power generation pumps.

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Power Generation Pumps to find Large Application in Coal/Oil Power Plants

The demand for power generation pumps is likely to grow significantly in coal/oil power plants with demand expected to exceed 1.4 million units by 2018 end. The development of new coal and oil power plants across various countries is driving the power generation pumps market growth.

According to the International Energy Agency (IEA), coal generation increased by 3% in 2017 after witnessing a fall in last two years. Substantial growth in coal generation is seen in India and China. Moreover, with the share of around 30%, coal-fired power generation remains the largest source of energy worldwide.

Efforts are being made to improve the coal power plants design and power generation pumps to boost efficiency and flexibility of the plants. The coal-fired power plants are deploying efficient supercritical and ultra-supercritical coal power generation technologies. Although southeast Asia is an important producer of coal, oil, and gas, it is likely to face several challenges in the coming years, owing to the increasing focus on power generation through green energy sources.

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Sodium Formate Sales to Revive as Manufacturers Emphasize on Non-Traditional Application Areas: Fact.MR Study. Predominantly averted by widespread availability of economically favorable alternatives, sodium formate sales have been sluggish.

Global consumption volume of sodium formate neared 640 thousand tons in 2018, according to a recent research study of Fact.MR. Highly influenced by a couple of strong restraining factors, the global sodium formate consumption volume is likely to record a mere 2.5% Y-o-Y growth in 2019.

Strengthening sustainable raw material pricing strategies will remain among the key actionable areas for leading stakeholders in the sodium formate market, in addition to leveraging the traction witnessed for high-efficiency de-icing agents.

Key operators in the sodium formate manufacturing landscape have been facing sluggish demand as a result of the availability of multiple low-priced alternatives of sodium formate, according to Fact.MR’s analysis.

However, research studies that have revealed considerable biodegradability of sodium formate point to a gradually progressing demand scenario that may shape the global market over forthcoming years.

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According to the study, there remains a notable untapped potential for sodium formate in a few non-traditional application sectors, i.e. other than de-icing, leather tanning, and applications in oil & gas industry. While animal feed and cosmetics are particularly emerging as profitable end-use sectors for sodium formate manufacturers and other market stakeholders.

an increasing focus on exploring the diverse application range is highly likely to shape the competition strategies in the years to come. In line with the flourishing personal care and cosmetics industry, a number of innovations are expected to discover myriad application opportunities for the companies active in sodium formate market.

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The forestry machinery market is anticipated to experience moderate growth during the forecast duration of 2020-2030, at a CAGR of around 5%. The forest products industry is highly integrated with housing, consumer goods, and manufacturing industry.

The global forestry machinery market is expected to be valued at over US$ 4 Bn by the end of 2020, and is anticipated to surpass US$ 6 Bn by the end of the forecast period of 2020-2030.

However, the COVID-19 pandemic has interrupted the growth of the industrial equipment machinery market due to nationwide lockdowns, leading to a steep fall in the sales of forestry machinery, globally.

In addition, high initial investment of forestry machinery adds another layer of complexity, as several users are hesitant to invest in new forestry machinery at this time. This, in turn, is expected to see a decline in the demand for forestry machinery in the near future.

However, ongoing development plans formulated to boost the forestry industry in key countries such as China and Indonesia are expected to drive the demand for relevant solutions, such as forestry machinery and equipment.

Moreover, growing focus of manufacturers on designing machinery for high production applications, demanding operations, and extreme terrain conditions, is expected to augur well for the growth of the forestry machinery market during the forecast period of 2020-2030.

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Key Takeaways from Global Forestry Machinery Market Study

The global forestry machinery market is projected to create an absolute dollar opportunity of around US$ 2 Bn, and is anticipated to expand at a value CAGR of 5% during the forecast period

By machine, forwarders are set to hold a share-wide market dominance with over 38% of the total market value by the end of the forecast period.

Skidders are projected to progress at a value CAGR of 5%, and be valued 1.5X more than bunchers by the end of 2020.

By region, Europe is expected to emerge as the fastest-growing forestry machinery market, and surpass a market valuation of US$ 2.5 Bn by the end of 2030.

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Direct-Fired Heater Demand Buoyed by their Ability to Attain 100% Efficiency, Accounting for 70% Sales: Fact.MR

According to the recently published study by Fact.MR, the global sales of fired heaters were close to 695 units in 2018, and are estimated to register approximately 5% Y-o-Y in 2019.

The fired heaters industry remains influenced by a slew of factors that range from continued adoption in chemical and petrochemical industries, to focus of manufacturers in optimizing the operational efficiencies of fired heater to minimize energy consumption.

The study finds that energy demand witnessed a remarkable rise in 2018, and the consumption continues on an upward spiral, primarily driven by pervasive rise in cooling and heating requirements.

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As fired heaters used in process industries, such as chemical, petrochemical and pharmaceutical, account for a notable energy consumption, leading manufacturers are putting efforts to optimize the heater operation even in fluctuating loads.

Development of hardware-based control schemes to reduce the NOx emissions, is another key focus area of leading players in the fired heaters market.

According to the study, the direct-fired heaters was estimated to account for over 70% market share in the global fired heaters market. The increasing consumer demand for cost-effective yet highly productive fired heaters,coupled with a higher preference for efficient heating equipment has translated into a significant demand for direct-fired heaters, in light of their capability to attain 100% operational efficiency.

This rise in demand for direct-fired heaters is prompting leading manufacturers to focus on the development of equipment with improved air volume to heat output ratios.

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Fact.MR has recently compiled a study of the colloidal silica market, which sheds light on a slew of factors that shape the market growth. Colloidal Silica Sales Growing in Line with Quest for Effective Process Binders and Additives: Fact.MR Survey

Global sales of colloidal silicais estimated to surpass 403,700 tons through 2029, says the recently published report by Fact.MR. Increasing requirement for effective binders is estimated to load the dice in favor of liquid silicon dioxide applications across an umpteen number of applications, including coatings, electronics, construction, thereby creating sustained opportunities for the colloidal silica industry.

According to the research study, electrical equipment & electronics industry will continue to sustain high demand for colloidal silica, for the fact that colloidal silica plays a critical role in producing flat and uniform water surfaces during production of electronic & electrical devices.

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“Colloidal silica also serves as a final polishing additive and a rough surface remover in the electronics & electrical equipment space, thereby eliminating the necessity of other steps of surface preparation.

Moreover, adoption of colloidal silica will also continue to scale up in the construction space, for the fact that colloidal silica holds the potential to breathe life into durability and strength of concrete mixtures”, says the Fact.MR report.

Demand for colloidal silica from coating applications is also registering a significant uptick, owing to rising demand for reinforcing materials for paints and coatings. Customer desire for multipurpose coatings with vigorous physical and chemical properties is on a significant rise, which is further necessitating the adoption of colloidal silica.

In addition, growing fad for customized paints and coatings is also setting an optimistic tone for adoption of colloidal silica in the coatings landscape, with global sales estimated to surpass 114, 400 tons in 2019.

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A new Fact.MR report on electric vehicle battery market offers an elaborate and exhaustive market forecast for the period, 2017-2022. Various dynamics influencing the electric vehicle battery market are identified and their degree of impact

According to a Fact.MR study, global sales of electric vehicle batteries surpassed a valuation of US$ 90,700 million in 2018, and are anticipated to register a Y-o-Y growth of approximately 14% in 2019.

Growing popularity and demand for electric vehicles (EVs), owing to increasing efforts to reduce emissions and ease pollution, continue to impact the sales of electric vehicle batteries. The study analyzes the market in detail, and offers analysis of key macroeconomic and industry-specific factors influencing the growth of electric vehicle battery market.

The study finds that governments in various regions across the globe are pushing the adoption of EVs that will contribute to an effective reduction in emissions of greenhouse gases.

This, coupled with growing consumer concerns regarding negative impact of climate change and alarming rise in pollution levels has influenced growth in EV production, subsequently boosting the sales of electric vehicle batteries. Additionally, around 20 major cities worldwide have announced the plans to ban gasoline and diesel cars by 2030 or sooner, providing potential growth prospects of the electric vehicle battery market.

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According to the study, although EVs continue to gain popularity for their lower running cost, increased interior space, and unique exterior styling, many customers still express concerns over their cost premium and lack of charging infrastructure. This has led to introduction of new battery cells and reduction of battery pack mass, resulting in improvements in energy density, charge discharge, and thermal performance.

Further, advances in battery management systems have contributed towards extending battery life, vehicle range as well as safety. Prospects of the electric vehicle battery market will be promising, as cell manufacturers are also directing their focus towards innovative concepts such as solid state technology, lithium-air batteries, and alternative metal-ion chemistries.

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Automotive brake calipers continues to witness lucrative opportunities across the countries on the backdrop of the increasing number of the motor vehicles and automotive aftermarket industries worldwide. Moreover, the growth in the automotive sector

Fact.MR delivers key insights on the automotive brake caliper market in its published report, titled “Automotive Brake Caliper: Industry Analysis and Opportunity Assessment, 2018–2027”. In terms of revenue, the automotive brake caliper market is estimated to expand at a CAGR of 3.1% over the forecast period, owing to the numerous factors, about which FACT.MR offers thorough insights and forecasts in this report.

The current growth trend of the automotive brake caliper market has prominently influenced by the increasing number of the motor vehicles across all the regions of the globe. Advancement in autonomous technology amalgamate innovations in the automobile systems, and automobile components have become a tool for a consumer as well as a marketer to expose and expand their products which are likely to boost the automotive brake caliper market.

The global market for automotive brake caliper is segmented as per vehicle type, product type, by distribution channel, and by piston material. This report assesses trends that are driving the growth of each segment on the global level and offers potential takeaways that could prove substantially useful to automotive brake caliper manufacturers looking to enter the market. Main regions assessed in this report include North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ), and the Middle East & Africa (MEA).

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The sections, by vehicle, by product type, by distribution channel, and by piston material in the automotive brake caliper market evaluate the present scenario as well as growth prospects of the regional automotive brake caliper market for 2018–2027. The North America automotive brake caliper market has been estimated to dominate the automotive brake caliper market, accounting for a maximum revenue share of the market by 2018 end.

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The global soft magnetic composites (SMCs) market has witnessed rapid growth at a CAGR of 6.4% over the past half-decade. However, due to the ongoing outbreak of COVID-19, the electrical industry has put the brakes on production, cascading the effect

Growing automotive and electrical industry across the globe, especially in India and China, has cascaded the demand growth of the global soft magnetic composites (SMCs) market. Promising regions such as Europe, Japan, and North America too have provided a platform for the growth of the global soft magnetic composites market, owing to rapid growth of the mentioned sectors.

Cost-effective and compact electromagnetic components made out of novel SMCs are set to drive demand over the next decade. Moreover, the soft magnetic composites market is in its growing stage in a PLC curve, owing to frequent innovations by key stakeholders and rapidly changing market dynamics.

As per Fact.MR analysis, significant growth in demand for soft magnetic composites has been witnessed over the past half-decade, and the market is set to expand at a CAGR of 6.5% over the forecast period of 2020 to 2030.

Key Takeaways from Global Soft Magnetic Composites Market Study

Asia Pacific excluding Japan dominates the demand pie of soft magnetic composites with a market share over more than 28% in 2019.

The silicon ferrite segment is anticipated to gain around 311 BPS over the forecast period of 2020-2030.

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The SMCs market in Japan is set to expand at 6% CAGR over the forecast period, and is evaluated to be among the promising regions providing absolute $ opportunity for stakeholders.

The SMCs markets in North America and Europe are set to inflate by more than 2X over the forecast period, together accounting for more than 50% share of the global soft magnetic composites market in 2020.

The ongoing COVID-19 pandemic has led reduced industrial activities and disrupted supply chains. Lockdowns across most countries have adversely affected the production of soft magnetic composites.

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