Category: Press Release

Evolve Business Intelligence has published a research report on the Global Oilwell Spacer Fluid Market, 2024–2034. The global Oilwell Spacer Fluid Market is projected to exhibit a CAGR of around 6.54% during the forecast period of 2024 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Oilwell Spacer Fluid Market: Baker Hughes Company, Chevron Phillips Chemical Company, Croda International, Halliburton Co, Schlumberger Ltd, M&D Industries, Atlantic Richfield Company, Elkem, BASF and Archi Exim Private Limited.

Market Highlights

The Global Oilwell Spacer Fluid Market is projected to be valued at USD 256.75 Billion by 2034, recording a CAGR of around 6.54% during the forecast period. The Oilwell Spacer Fluid Market refers to the industry that focuses on the production, development, and distribution of spacer fluids used in oil well drilling operations. Spacer fluids are specialized fluids that are pumped between the drilling fluid (also called mud) and the cement slurry during the wellbore completion process. The primary function of spacer fluids is to separate incompatible fluids, such as drilling mud and cement slurry, ensuring efficient displacement of the mud from the wellbore, which is essential for a strong and effective cement bond.

The market’s growth is influenced by fluctuations in oil prices, advancements in drilling technologies, and environmental regulations governing the use of drilling fluids. The oilwell spacer fluid market is a crucial component of the oil and gas industry, ensuring the safe and efficient completion of wellbores.

Segmental Analysis

The global Oilwell Spacer Fluid Market has been segmented based on Product Type and Application.

Based on Product Type, the Oilwell Spacer Fluid Market is segmented into Water-Based, Oil-Based and Others. The Oil-Based segment is anticipated to dominate the market.

Based on Application, the global Oilwell Spacer Fluid Market has been divided into Onshore and Offshore. The Onshore segment is anticipated to dominate the market.

Regional Analysis

The Oilwell Spacer Fluid Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America, especially the United States and Canada, is a leading market for oilwell spacer fluids due to the significant oil and gas exploration and production activities. The rise of shale gas exploration in the U.S. (particularly in regions like the Permian Basin) and Canada’s oil sands production drive demand for advanced spacer fluids and the region is also at the forefront of technological innovations in drilling techniques, such as horizontal drilling and hydraulic fracturing, which require efficient wellbore cleaning, boosting the demand for high-performance spacer fluids. Europe has significant oil and gas production in countries such as Norway, the UK (North Sea), and Russia. The North Sea remains a key area of offshore drilling activity, particularly for deepwater oil production, where spacer fluids play a critical role in wellbore cleaning and cementing and europe has some of the most stringent environmental regulations for oil and gas exploration. This creates opportunities for spacer fluids that meet high environmental standards and are biodegradable. The Asia-Pacific region, led by countries like China, India, Indonesia, and Australia, is a key growth area for the oilwell spacer fluid market. Rising energy demands, industrialization, and growing exploration activities in onshore and offshore reserves drive the market in this region and the growth in energy consumption and rapid industrialization in countries like China and India present substantial opportunities for the market. Latin America, particularly Brazil, Mexico, and Venezuela, is an important region for oil and gas exploration, especially in offshore drilling activities. Brazil’s offshore pre-salt oil fields and Mexico’s recent energy reforms have led to increased exploration and production, driving demand for spacer fluids. The Middle East is home to some of the largest oil-producing countries in the world, including Saudi Arabia, the UAE, Iraq, and Kuwait. The region’s extensive onshore and offshore oil exploration activities drive the demand for spacer fluids. In Africa, emerging oil and gas markets such as Nigeria, Angola, and Ghana are experiencing growth in offshore exploration, which further boosts market demand.

Evolve Business Intelligence has published a research report on the Global Oilfield Auxiliary Rental Equipment Market, 2024–2034. The global Oilfield Auxiliary Rental Equipment Market is projected to exhibit a CAGR of around 4.15% during the forecast period of 2024 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Oilfield Auxiliary Rental Equipment Market: Superior Energy Services, Schlumberger Limited, Oil States International Inc., Weatherford, The Olayan Group, Key Energy Services Inc, Occidental Petroleum, Total, Shell and BP.

Market Highlights

The Global Oilfield Auxiliary Rental Equipment Market is projected to be valued at USD 42.10 Billion by 2034, recording a CAGR of around 4.15% during the forecast period. The Oilfield Auxiliary Rental Equipment Market encompasses the sector that provides equipment and tools essential for oil and gas exploration, production, and related operations. This market includes a variety of rental equipment that supports drilling, completion, and production activities, ensuring that oilfield operations run smoothly and efficiently.

The Oilfield Auxiliary Rental Equipment Market plays a critical role in supporting the oil and gas industry by providing the necessary tools and equipment to facilitate efficient exploration and production activities.

Segmental Analysis

The global Oilfield Auxiliary Rental Equipment Market has been segmented based on Product Type and Industry.

Based on Product Type, the Oilfield Auxiliary Rental Equipment Market is segmented into Drilling Equipment, Pressure & Flow Control Equipment and Fishing Equipment. The Drilling Equipment segment is anticipated to dominate the market.

Based on Industry, the global Oilfield Auxiliary Rental Equipment Market has been divided into Onshore and Offshore. The Onshore segment is anticipated to dominate the market.

Regional Analysis

The Oilfield Auxiliary Rental Equipment Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. In North America region, country like united state is one of the largest oil and gas producers globally, the U.S. has a well-established rental equipment market. The market is characterized by a high degree of competition among numerous rental companies. In Europe region, Countries like Norway, the United Kingdom, and Germany have mature oil and gas industries, leading to a steady demand for rental equipment. The market is characterized by a mix of large international rental companies and smaller regional players. In Asia-Pacific region, China’s rapid industrialization and growing energy demand have fueled the growth of its oil and gas industry. The rental equipment market is expanding rapidly, with both domestic and international companies entering the market. In Latin America region, Brazil has a significant oil and gas industry, particularly offshore production. The rental equipment market is growing, with both local and international companies serving the industry. In Middle East and Africa region, Nigeria is one of Africa’s largest oil producers, driving demand for rental equipment. The market is relatively competitive, with both local and international companies operating in the region.

Evolve Business Intelligence has published a research report on the Global Electronic Load Device Market, 2024–2034. The global Electronic Load Device Market is projected to exhibit a CAGR of around 8.01% during the forecast period of 2024 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Electronic Load Device Market: Keysight Technologies, Ametek, National Instruments, Chroma Ate, Teledyne Technologies, Good Will Instrument, Rigol Technologies, B&K Precision, Tektronix and Kikusui Electronics.

Market Highlights

The Global Electronic Load Device Market is projected to be valued at USD 7.65 Billion by 2034, recording a CAGR of around 8.01% during the forecast period. The Electronic Load Device Market refers to the market for devices used to simulate electrical loads in a variety of testing applications. These devices are typically used in industries such as power electronics, automotive, telecommunications, and aerospace to test power supplies, batteries, inverters, and other electrical systems by applying controlled electrical loads to them.

The growth of this market is driven by factors like the rising demand for electric vehicles (EVs), renewable energy solutions, and the increasing need for advanced testing in power electronics. Technological advancements and the shift toward automation in testing processes also contribute to market expansion.

Segmental Analysis

The global Electronic Load Device Market has been segmented based on Voltage, Application and Current Type.

Based on Voltage, the Electronic Load Device Market is segmented into High Voltage and Low Voltage. The Low Voltage segment is anticipated to dominate the market.

Based on Application, the global Electronic Load Device Market has been divided into Aerospace, Defense & Government Services, Automotive, Energy, Wireless Communications & Infrastructure, Others. The Wireless Communications & Infrastructure segment is anticipated to dominate the market.

Based on Current Type, the global Electronic Load Device Market has been divided into AC and DC. The AC segment is anticipated to dominate the market.

Regional Analysis

The Electronic Load Device Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America, particularly the United States, is one of the largest markets for electronic load devices due to the presence of advanced technology companies, robust automotive and aerospace sectors, and significant investments in renewable energy. European countries are heavily investing in renewable energy and electric vehicles, supported by stringent environmental regulations. This creates a robust market for electronic load devices used in testing renewable energy systems and EV components. The Asia-Pacific region is witnessing rapid growth in the electronic load device market, driven by increasing industrialization, urbanization, and the demand for electronic testing in countries like China, India, and Japan and the rise of the electric vehicle market in China, along with the expansion of telecommunications infrastructure, fuels demand for electronic load devices. The electronic load device market in Latin America is still developing, but there is potential for growth due to increasing industrial activities and investments in infrastructure. The Middle East and Africa region is experiencing growth in infrastructure projects, particularly in power generation and telecommunications, which will drive demand for electronic load devices and it’s driven by the increasing investments in infrastructure and the growing demand for electronic load devices in the oil and gas industry.

Evolve Business Intelligence has published a research report on the Global Artificial Lift System Market, 2024–2034. The global Artificial Lift System Market is projected to exhibit a CAGR of around 4.41% during the forecast period of 2024 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Artificial Lift System Market: Halliburton, Schlumberger, Baker Hughes Company, Weatherford, NOV, Borets International, Oilserv, JJ Tech, Apergy and Distribution Now.

Market Highlights

The Global Artificial Lift System Market is projected to be valued at USD 7.53 Billion by 2034, recording a CAGR of around 4.41% during the forecast period. The Artificial Lift System Market refers to the industry focused on technologies and methods used to increase the flow of liquids, typically oil or water, from a production well. Artificial lift systems are employed when the natural pressure in the reservoir is insufficient to bring the oil or gas to the surface. These systems are critical in the oil and gas industry for maintaining and enhancing production efficiency, especially in mature fields or reservoirs with low-pressure conditions.

The market for artificial lift systems is driven by factors such as increasing demand for oil and gas, the need to optimize production from mature fields, and advancements in technology. As the industry continues to explore more challenging reservoirs, the importance of artificial lift systems will likely grow.

Segmental Analysis

The global Artificial Lift System Market has been segmented based on Mechanism, Type and Well Type.

Based on Mechanism, the Artificial Lift System Market is segmented into Pump Assisted and Gas-Assisted. The Pump Assisted segment is anticipated to dominate the market.

Based on Type, the global Artificial Lift System Market has been divided into ESP, PCP, Gas Lift, Rod lift and Others. The ESP segment is anticipated to dominate the market.

Based on Well Type, the global Artificial Lift System Market has been divided into Horizontal and Vertical. The Horizontal segment is anticipated to dominate the market.

Regional Analysis

The Artificial Lift System Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America is one of the largest markets for artificial lift systems, primarily driven by the U.S. shale oil boom and significant investments in unconventional oil production and Increasing focus on enhancing production in mature fields and deepwater exploration presents growth opportunities. The adoption of IoT and automation technologies is also on the rise. The European market for artificial lift systems is relatively smaller but is driven by offshore oil and gas production, especially in the North Sea and the focus on energy efficiency and sustainability, along with the need to optimize production from aging fields, supports the adoption of artificial lift technologies. The Asia-Pacific region is witnessing increasing oil and gas exploration activities, particularly in countries like China, India, and Indonesia and the market is gradually shifting towards ESPs and other artificial lift technologies to optimize production. The Middle East is a critical region for artificial lift systems due to its vast oil reserves and established production infrastructure and growing investments in enhanced oil recovery (EOR) and modernization of existing facilities drive demand. The region’s focus on maintaining production levels amid declining reservoir pressure presents opportunities for artificial lift systems and the African continent is emerging as a new frontier for oil and gas exploration, with countries like Nigeria, Angola, and Ghana leading the way.

Evolve Business Intelligence has published a research report on the Global Power Quality Equipment Market, 2024–2034. The global Power Quality Equipment Market is projected to exhibit a CAGR of around 6.35% during the forecast period of 2024 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Power Quality Equipment Market: Eaton, ABB, Siemens, Schneider Electric, General Electric., Toshiba, Emerson, Legrand, Honeywell and Infinite Electronics Duromax.

Market Highlights

The Global Power Quality Equipment Market is projected to be valued at USD 73.44 Billion by 2034, recording a CAGR of around 6.35% during the forecast period. The Power Quality Equipment Market refers to the sector focused on products and technologies designed to improve the quality of electrical power. Power quality issues can arise from various sources, including electrical noise, voltage sags or swells, harmonic distortion, and interruptions in power supply, which can adversely affect equipment performance and reliability.

The Power Quality Equipment Market is expected to grow as industries continue to invest in technologies that enhance operational efficiency and reliability. The demand for high-quality power is becoming more critical as businesses and consumers become increasingly dependent on advanced electronic devices.

Segmental Analysis

The global Power Quality Equipment Market has been segmented based on Equipment, Phase and End User.

Based on Equipment, the Power Quality Equipment Market is segmented into Surge Arresters, Surge Protection Devices, Harmonic Filters, Power Conditioning Units, Power Distribution Units, Uninterruptable Power Supplies, Synchronous Condensers, Voltage Regulators, Digital Static Transfer Switches, Static Var Compensators, Solid Oxide Fuel Cells, Isolation Transformers, Power Quality Meters. The Uninterruptable Power Supplies segment is anticipated to dominate the market.

Based on Phase, the global Power Quality Equipment Market has been divided into Single Phase and Three Phase. The Three Phase segment is anticipated to dominate the market.

Based on End User, the global Power Quality Equipment Market has been divided into Residential, Commercial, Industrial and Manufacturing, Utilities and Transportation. The Industrial and Manufacturing segment is anticipated to dominate the market.

Regional Analysis

The Power Quality Equipment Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America is one of the largest markets for power quality equipment, driven by advanced infrastructure and a focus on energy efficiency and a growing number of data centers requiring high-quality power. Europe has a well-established market for power quality equipment, supported by regulations promoting energy efficiency and renewable energy integration and investments in smart grid technologies and renewable energy sources. The Asia-Pacific region is witnessing rapid growth in the power quality equipment market, driven by industrialization and urbanization and expanding manufacturing sectors and increasing energy demand. The Latin American market for power quality equipment is emerging, with growing investments in infrastructure and energy projects and increasing demand for reliable power supply in industrial and commercial sectors. The power quality equipment market in the Middle East and Africa is gradually expanding, driven by infrastructural development and the need for reliable power and rapid industrialization and urbanization leading to higher power demand.

Evolve Business Intelligence has published a research report on the Global Thermal Energy Storage Market, 2021–2034. The global Thermal Energy Storage market is projected to exhibit a CAGR of around 4.41%during the forecast period of 2021 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Thermal Energy Storage Market: Abengoa, Burns & McDonnell, SOLARRESERVE, BrightSource Energy, Calmac, MAN energy solution, Goss Engineering, Steffes Corporation, DN tanks, Turbine Air Systems

Market Highlights

The Thermal Energy Storage Market size accounted for USD 45.71 Billion in 2023 and is estimated to account for 46.58 Billion in 2024. The Market is expected to reach USD 60.78 Billion by 2034 growing at a compound annual growth rate (CAGR) of 6.78% from 2024 to 2034. Systems that store thermal energy for later use, providing greater energy management and efficiency, are part of the Thermal Energy Storage (TES) market. Sensible heat storage, latent heat storage, and thermochemical storage are the three main types of TES technology. These systems are widely used in many different applications, such as building cooling systems, industrial operations, and district heating. The industry is driven by the need for grid stability, energy saving programs, and the growing need for renewable energy sources. Lower energy prices, peak load shifting, and improved integration of sporadic renewable energy sources are some of the main advantages of thermal energy storage. The TES market is anticipated to increase greatly in the upcoming years as governments and companies place a greater emphasis on sustainability.

Segmental Analysis

The global Thermal Energy Storage market has been segmented based on Technology, Storage Material, Application

Based on the Technology, the market is segmented based on Sensible Heat Storage, Latent Heat Storage, Thermochemical Storage. Sensible Heat Storage typically dominates, primarily due to its established technology, lower costs, and widespread application in various industries, including district heating and industrial processes. This method is favored for its simplicity and efficiency in storing thermal energy using materials like water and concrete.

Based on the Storage Material, the market has been divided into Water, Molten Salts, Phase Change Materials, Others. Water segment generally dominates due to its cost-effectiveness, availability, and efficiency as a storage medium for a variety of applications, including district heating and cooling systems. Water-based systems are widely utilized for their simplicity and reliability in storing thermal energy.

Based on Application, the market has been divided into Power Generation, District Heating & Cooling, Process Heating & Cooling. District Heating & Cooling segment typically dominates due to its widespread application in urban areas for efficient energy management and the growing demand for sustainable heating and cooling solutions. This segment benefits from the integration of renewable energy sources and government initiatives promoting energy efficiency.

Regional Analysis

The Thermal Energy Storage market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America dominates the Thermal Energy Storage market due to several factors. The thermal energy storage market in Europe was valued at USD 11.58 billion in 2021 and is anticipated to increase at a substantial compound annual growth rate (CAGR) throughout the course of the study. Numerous thermal energy storage devices, which are utilized for power generation, district heating and cooling, water heating, and space heating, are characteristic of the area. In addition, the thermal energy storage market in Germany had the most market share, while the thermal energy storage market in the UK had the highest rate of growth in the European Union. The Asia-Pacific region has been witnessing remarkable growth in recent years. From 2022 to 2030, the thermal energy storage market in Asia-Pacific is anticipated to develop at the fastest compound annual growth rate (CAGR). The primary drivers of regional progress are the quick development of renewable energy sources and growing investments in ecologically friendly cooling technologies. Furthermore, the thermal energy storage market in China commanded the most market share, while the thermal energy storage market in India grew at the quickest rate in the Asia-Pacific area.

Evolve Business Intelligence has published a research report on the Global Switchgear  Market, 2021–2034. The global Switchgear  market is projected to exhibit a CAGR of around 4.41%during the forecast period of 2021 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Switchgear  Market: ABB, Schneider electric, HITACHI, Kirlsokar, Mitsubishi, Siemens, Toshiba, Powell, L&T electrical, Hyundai .

Market Highlights

The Switchgear Market size accounted for USD 93.10 Billion in 2023 and is estimated to account for 94.88 Billion in 2024. The Market is expected to reach USD 134.20 Billion by 2034 growing at a compound annual growth rate (CAGR) of 5.47% from 2024 to 2034. Electrical equipment for isolating, safeguarding, and controlling electrical circuits and systems is part of the switchgear market. It is necessary to guarantee the dependable and safe operation of power systems in commercial, residential, and industrial settings. Relays, fuses, circuit breakers, and switches are examples of switchgear components that aid in preventing overloads and short circuits. The need to upgrade old power infrastructure, urbanization, industrialization, and the rising demand for energy are the main factors driving this industry. Its rise is further aided by technological developments like smart grids and the incorporation of renewable energy. Switchgear with medium, low, and high voltages are important portions.

Segmental Analysis

The global Switchgear  market has been segmented based on Insulation, End-use, Voltage

Based on the Insulation, the market is segmented based on AIS, GIS. Air-Insulated Switchgear (AIS) dominates due to its cost-effectiveness and widespread use in medium-voltage applications, particularly in outdoor installations where space constraints are less critical compared to Gas-Insulated Switchgear (GIS).

Based on the End-use, the market has been divided into T&D Utilities, Industries, Commercial & Residential, Others. The T&D Utilities segment dominates the Switchgear Market, driven by the need for reliable power distribution and transmission infrastructure in utility networks, particularly as global electricity demand and grid expansion efforts increase

Based on Voltage, the market has been divided into <1 kV, 1-36 kV, >36 kV. the 1-36 kV segment dominates, primarily due to its extensive use in medium-voltage applications across utilities, industrial, and commercial sectors, where reliable power distribution is critical.

Regional Analysis

The Switchgear  market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America dominates the Switchgear market due to several factors. For the switchgear market, the deployment of smart grid technology offers a significant possibility for growth. Intelligent, automated systems are the foundation of smart grids, allowing for enhanced energy distribution efficiency, predictive maintenance, and real-time monitoring. These grids require advanced switchgear systems because they enable remote monitoring, fault detection, and energy management. Manufacturers stand to gain from the increased demand for digital switchgear with integrated communication capabilities as utilities upgrade their grids with more and more IoT-enabled switchgear The Asia-Pacific region has been witnessing remarkable growth in recent years. Large-scale infrastructure projects, growing renewable energy installations, and increased electrification efforts—particularly in China and India—are driving the switchgear market’s rapid rise in the Asia-Pacific region. In the region, there is a growing need for medium- and high-voltage switchgear due to factors such as urbanization, industrialization, and government initiatives on power grid upgrades.

Evolve Business Intelligence has published a research report on the Global Concentrated Solar Power Market, 2021–2034. The global Concentrated Solar Power market is projected to exhibit a CAGR of around 4.41%during the forecast period of 2021 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Concentrated Solar Power Market: Abengoa, BrightSource Energy, SIEMENS, Acciona, Aalborg CSP, TSK FI, ACWA POWER, INITEC Energia, Enel Spa, Torresol energy.

Market Highlights

The Concentrated Solar Power Market size accounted for USD 6.51 Billion in 2023 and is estimated to account for 7.63 Billion in 2024. The Market is expected to reach USD 29.65 Billion by 2034 growing at a compound annual growth rate (CAGR) of 25.14% from 2024 to 2034. The market for concentrated solar power, or CSP, is the application of solar energy to produce electricity by concentrating sunlight. In CSP systems, sunlight is focused using mirrors or lenses onto a tiny area, usually a receiver. The concentrated heat from the sun produces steam, which powers a turbine that is connected to a generator. This technology is frequently utilized in utility-scale power plants and is especially effective in regions with strong solar insolation. Solar collectors, heat transfer fluids, and energy storage systems—which enable electricity generation even in the absence of sunlight—are essential parts of CSP systems. The market is driven by the increasing need for renewable energy, technological developments, and government policies that assist the reduction of carbon emissions. Among the difficulties are high initial

Segmental Analysis

The global Concentrated Solar Power market has been segmented based on Technology, Capacity, Operation type

Based on the Technology, the market is segmented based on Solar Power Tower, Linear Concentrating Systems, Stirling Dish technology, Other. The 100 MW and larger sector usually has the most share because big-scale plants are more economical, can achieve economies of scale, and are more appropriate for utility-scale energy generation, which can effectively meet enormous energy demands.

Based on the Capacity, the market has been divided into Less than 50 MW, 50 MW to 99 MW, 100 MW and above. Large-scale plants are more efficient, realize economies of scale, and are better suited for utility-scale energy generation, which effectively meets significant energy demands. For these reasons, the sector of 100 MW and above usually dominates.

Based on Operation type , the market has been divided into Stand-alone Systems, With Storage. There may be job opportunities in manufacture, building, operation, and maintenance as a result of the development of CSP projects. These positions can support workforce development and boost regional economies. The economic benefits that communities derive from community solar power (CSP) are expected to garner public support for renewable energy projects, hence augmenting market opportunities.

Regional Analysis

The Concentrated Solar Power market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America dominates the Concentrated Solar Power market due to several factors. The market for concentrated solar power in North America is expected to increase significantly. Numerous expansive CSP projects are in place around the nation, especially in the southwestern areas with abundant solar energy. To encourage the development of CSP, the US government has offered financial incentives and policy support. Furthermore, efforts in research and development have been directed on enhancing the effectiveness and affordability of CSP technology. The Asia-Pacific region has been witnessing remarkable growth in recent years. The Asia-Pacific Concentrating Solar Power Market will dominate the CAGR from 2023 to 2032. The government’s strong commitment to reducing carbon emissions and diversifying its energy mix has been a key driver. The region’s growing population, industrialization, and need for sustainable energy sources make CSP attractive. Moreover, China’s Concentrating Solar Power market held the largest market share, and the Indian Concentrating Solar Power market was the fastest-growing market in the Asia-Pacific region..

Evolve Business Intelligence has published a research report on the Global Commercial Aquarium Market, 2021–2034. The Global Commercial Aquarium market is projected to exhibit a CAGR of around 8.02%during the forecast period of 2021 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the Global Commercial Aquarium Market: Manila Ocean Park, Ocean Adventure, Cube Oceanarium, Times City Vinpearl Aquarium, Bao Son Aquarium, Churaumi Aquarium, E.A. Aquarium, SEA LIFE Bangkok Ocean World, SEA Aquarium, GEORGIA AQUARIUM.

Market Highlights

The Global Commercial Aquarium Market size accounted for USD 8.32 Billion in 2023 and is estimated to account for 9.45 Billion in 2024. The Market is expected to reach USD 16.25 Billion by 2034 growing at a compound annual growth rate (CAGR) of 8.02% from 2024 to 2034. The global Commercial Aquarium market was valued at $293.4 million in 2020 and is anticipated to grow at a CAGR of 9.92% from 2021 to 2028. A commercial aquarium is a type of aquarium that is constructed to make a profit. The fish and other aquatic animals within this form of aquatic entertainment must be bred to provide constant income. This kind of business is particularly common in countries where the local marine life has been depleted from overfishing or pollution but may also exist simply because they are popular tourist attractions. The market includes sales, accessories, fish supply, equipment supply, maintenance services, and design solutions.

Segmental Analysis

The global Global Commercial Aquarium market has been segmented based on Type, Application

Based on Type, the market is segmented based on Inland, Ocean, Comprehensive. Ocean segment dominates, as it offers a more immersive and expansive experience by showcasing marine life from oceanic ecosystems, attracting a larger number of visitors.

Based on Applications, the market has been divided into the Male, Female, Kids. Kids segment dominates, driven by the demand for educational and recreational activities, as aquariums serve as popular attractions for school trips and family outings.

Regional Analysis

The Global Commercial Aquarium market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America, the largest and the most developed aquarium market in the world, holds the largest shares of the global commercial aquarium market in terms of volume and revenue due to the growing demand and high affordability and availability of the advanced and superior quality marine and freshwater fish and aquarium products and services. The marine and freshwater aquarium product manufacturers and suppliers in Canada, the U.S., and Mexico offer high-quality and advanced aquarium products and services such as aquarium fish for commercial and home aquariums, installed aquariums, and aquarium equipment such as air pumps and filters for home and commercial aquariums. The Asia-Pacific region has indeed emerged as the fastest-growing market for the Global Commercial Aquarium industry. Because of the region’s rapid urbanization, rising disposable income, and expanding interest in tourism and leisure activities, the Asia-Pacific area has tremendous potential in the global commercial aquarium market. Major contributors include China, Japan, and Singapore, whose entertainment centers and tourist attractions incorporate expansive aquariums. Furthermore, the area’s emphasis on marine education and conservation supports the expansion of commercial aquariums by drawing tourists from both domestic and foreign locations.

Evolve Business Intelligence has published a research report on the Global Solar Photovoltaic (PV) Panels Market, 2021–2034. The global Solar Photovoltaic (PV) Panels market is projected to exhibit a CAGR of around 4.41%during the forecast period of 2021 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Solar Photovoltaic (PV) Panels Market: JA Solar, Jinko Solar, AIKO SOLAR, First Solar, Hanwha Solutions, Tongwei Group Co Ltd, Shunfeng International Clean Energy Co Ltd, Trina Solar, Yingli Solar, Waaree Energies Ltd.

Market Highlights

The Solar Photovoltaic (PV) Panels Market size accounted for USD 12.45 Billion in 2023 and is estimated to account for XX Billion in 2024. The Market is expected to reach USD 2654.11 Billion by 2034 growing at a compound annual growth rate (CAGR) of 25.88% from 2024 to 2034. A Solar Photovoltaic (PV) Panel is a semiconductor device designed for the direct conversion of incident solar radiation into electricity via the photovoltaic effect. It comprises multiple interconnected photovoltaic cells typically fabricated from semiconductor materials, such as crystalline silicon or thin-film compounds. These cells function by generating an electrical current when exposed to photons from sunlight, thereby facilitating the conversion of solar energy into direct current (DC) electricity. Solar PV panels are integral components of solar power systems and are employed extensively in various applications, encompassing grid-connected and off-grid installations, serving as sustainable and environmentally friendly sources of renewable electrical energy.

Segmental Analysis

The global IoT in Construction Market has been segmented based on Project Type, Application and Offering.

Based on Project Type, the IoT in Construction Market is segmented into Commercial and Residential. The Commercial segment is anticipated to dominate the market.

Based on Application, the global IoT in Construction Market has been divided into Remote Operations, Safety Management, Fleet Management and Others. The Fleet Management segment is anticipated to dominate the market.

Based on Offering, the global IoT in Construction Market has been divided into Hardware, Software and Services. The Software segment is anticipated to dominate the market.

Regional Analysis

The IoT in Construction Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America is a leader in IoT adoption due to advanced technological infrastructure and a strong focus on innovation. High adoption of advanced technologies, significant investment in smart cities, and robust infrastructure projects. The presence of major IoT technology providers and a focus on improving construction safety and efficiency are key drivers. Europe is witnessing a steady increase in IoT adoption in the construction sector, driven by a focus on sustainable construction practices and smart cities. The Asia-Pacific region is experiencing the fastest growth in the IoT in construction market, fueled by rapid urbanization and infrastructure development. Rapid urbanization, large-scale infrastructure projects, and increasing government investments in smart cities and green buildings. Countries like China and India are key markets with substantial growth potential. Latin America is an emerging market for IoT in construction, with increasing interest in adopting digital technologies to improve efficiency and safety. Growing urbanization and infrastructure development, along with increasing investment in smart infrastructure and construction technologies. The Middle East and Africa region is showing growing potential for IoT adoption in construction, driven by mega-projects and a focus on modernization and Economic fluctuations and infrastructure development challenges in some countries.