Honey Wine Market Significant Profits Estimated to be Generated by 2025

The global honey wine market size is expected to reach USD 817.03 million by 2025, according to a new report by Grand View Research, Inc. The market is projected to register a CAGR of 10.41% over the forecast period. Demand for flavored wines is expected to be among the key factors driving the market. Increased consumer purchasing power, especially in developing countries like China, is anticipated to drive the product demand further.

Moreover, demand for sparkling wine and antioxidant beverages is estimated to drive the product demand. In addition, rising number of meaderies in developed countries will support the overall market growth. Positive impact of e-commerce channels and social media will also provide growth opportunities to the market. Europe is anticipated to be the largest regional market due to high product demand in countries, such as France, Italy, and U.K.

Moreover, presence of several leading manufacturers in the region and constant product launches by them are expected to propel the growth. Major companies are investing in R&D and capacity expansion to gain a higher industry share. For instance, in November 2018, Gosnell’s launched a Vintage Mead. They also focus on M&A and online sales for business expansion.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/honey-wine-market

Further key findings from the study suggest:

• In terms of revenue, spices product segment is projected to ascend at the fastest CAGR of 12.12% over the forecast period
• Off-trade channel of distribution led the global honey wine market in 2018 and accounted for an overall share of more than 70%
• Europe was the dominant regional market in 2018 and is projected to expand further at a steady CAGR over the next few years
• Key companies in this market are Redstone, Brothers Drake, Medovina Meadery, Kuhnhenn Brewing Co. LLC, and Schramm’s Mead
• These companies focus on new product development and capacity and business expansion to gain competitive edge

Grand View Research has segmented the global honey wine market on the basis of product, distribution channel, and region:

Honey Wine Product Outlook (Revenue, USD Million, 2015 - 2025)

• Fruits
• Spices
• Herbs
• Others

Honey Wine Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

• On trade
• Off trade

Honey Wine Regional Outlook (Revenue, USD Million, 2015 - 2025)

• North America
  • US.
• Europe
  • France
  • Italy
  • UK.
• Asia Pacific
  • China
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Door Phone Market Size Is Expected To Reach USD 5.1 Billion by 2025

The global door phone market size is expected to reach USD 5.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.7% over the forecast period. The market is driven by consumer spending on security and safety products for home, along with rise in demand from the multi storage residential buildings. Moreover, cost of keeping manual security at every place in a premise is much costlier as compared to the automated security devices, thereby resulting in increased sale of door phones in the market.

The market is driven by increasing number of smart and automated homes in Asia Pacific, along with availability of cost effective products from various regional manufacturers. It can also be integrated with the central security system of the building, thereby making home monitoring easier and safer. These products are highly demanding for physically handicapped and old people in the house for whom every time when the bell rings, running down from the top floor is a big pain. The invention of high-end video door phones is substantially getting more popular in the market. It provides live conversation with the person without even opening of main door.    

Adoption of smart technology and smart control of devices with the help of smart phones is also one of the major reasons behind growing need for automated home security system. Door phones connected with smart phones have special feature, which allows user to control the access of visitors even if when they are not in home. Moreover, advancements in door phones including addition of security alarms, quick access through biometric sensors, and smart control provide a growth opportunity for the market.

Asia Pacific is expected to expand at the highest CAGR of 7.6% over the forecast period. The market is driven by increasing number of construction activities in the residential sector. Moreover, growing concerns over safety and security of people who are living alone in their houses are driving this market. Commercial spaces are also installing these devices at various locations for giving advanced level of safety and security to the employees. Audio door phones accounted for the largest market share in 2018 owing to their increased usage in commercial spaces.

Various strategic initiatives such as new product launches, expansion, and mergers and acquisitions are taken by the key players in order to increase the brand presence in the market. Some of the key players in the business are Aiphone Corporation; Panasonic Corporation; Fermax Holding Investment SL; 1byone, Inc.; Honeywell International Inc.; ABB Genway; and Legrand. For instance, in August 2018, Panasonic Corporation launched a wireless video door phone, along with a voice change function.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/door-phone-market

Further key findings from the report suggest:

• By product, video door phones are projected to ascend at the fastest CAGR of 6.5% over the forecast period
• The residential application segment dominated the global market with an overall share of 72.2% in 2018
• North America dominated the global market in 2018, accounting for 35.4% share of the overall revenue. This trend is projected to continue over the next few years
• Various manufacturers are concentrating on new product launches, marketing campaigns, and technological innovation to estimate existing and future demand patterns from upcoming product segments.

Grand View Research has segmented the global door phone market on the basis of product, application, and region:

Door Phone Product Outlook (Revenue, USD Billion, 2015 - 2025)

• Audio Door Phones
• Video Door Phones

Door Phone Application Outlook (Revenue, USD Billion, 2015 - 2025)

• Commercial
• Residential

Door Phone Regional Outlook (Revenue, USD Billion, 2015 - 2025)

• North America
  • US.
• Europe
  • Germany
  • France
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Caffeinated Beverage Market Size Is Expected To Reach USD 321.40 Billion by 2025

The global caffeinated beverage market size is expected to reach USD 321.40 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 6.81% from 2019 to 2025. Rising demand for energy drinks and Ready-to-Drink (RTD) beverages is the key factor driving the market growth.

Moreover, rising income levels and improved standards of living in emerging regions, such as China and India, are anticipated to have a positive impact on the market growth. In addition, rapidly expanding e-commerce sector provides numerous growth opportunities to the market. North America is anticipated to be the largest regional market due to high demand for RTD beverages.

Moreover, companies in the region are introducing newer products and flavors, which will boost the demand further. The market in Asia Pacific region is estimated to expand at a CAGR of 8.12% over the forecast period. Key companies in this market focus on M&A, online sales, and expanding geographical reach and production capacity to gain a greater market share.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/caffeinated-beverage-market

Further key findings from the study suggest:

• The carbonated soft drinks product segment is projected to account for the largest market share by 2025. However, energy drinks segment will expand at the fastest CAGR during the forecast period
• The offline distribution channel led the global market in 2018. Online channel is estimated to be the fastest-growing segment from 2019 to 2025
• North America was the dominant regional caffeinated beverage market in 2018 and is projected to expand further at a steady CAGR from 2019 to 2025
• Some of the prominent companies include Dr Pepper Snapple Group; Monster Energy Company; Nestlé SA; PepsiCo, Inc.; and Red Bull GmbH

Grand View Research has segmented the global caffeinated beverage market on the basis of product, distribution channel, and region:

Caffeinated Beverage Product Outlook (Revenue, USD Billion, 2015 - 2025)

• Carbonated Soft Drinks
• Energy Drinks
• RTD Tea & Coffee
• Others

Caffeinated Beverage Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

• Online
• Offline

Caffeinated Beverage Regional Outlook (Revenue, USD Billion, 2015 - 2025)

• North America
  • US.
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Mobile Phone Protective Cover Market Size Is Anticipated To Reach USD 35.5 Billion by 2025

The global mobile phone protective cover market size is anticipated to reach USD 35.5 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.5% CAGR during the forecast period. Increasing penetration of smartphones across the globe is the main factor driving demand for protective cases. For instance, according to a joint study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and PwC, the number of smartphone users in India is expected to reach 859 million by 2022, rising from 468 million users in 2017. Repairing a cracked or damaged phone screen can be rather expensive and this is a key factor propelling the need for protective mobile phone covers.

By product, the body glove segment held the largest market share in 2018. Introduction of sleek designs, coupled with use of advanced materials such as silicon, rubber, and thermoplastic polyurethane to deliver 360°protection, is expected to expand the application scope of the segment.

Conventional plastic materials such as polycarbonate are widely used to manufacture hard cases. These provide the least amount of protection to the phone and are more susceptible to cracks and damage when dropped. Hybrid mobile phone covers are better designed to absorb the impact of a fall, compared to cases made from conventional materials as they have a soft inner layer for better shock absorption. Owing to these benefits, the hybrid cases segment is anticipated to expand at the highest CAGR of 9.4% over the forecast period. Companies have also been using carbon fiber to enhance impact resistance in these phone covers. Although expensive, mobile phone protective covers made from this material are lightweight, strong, and durable.

Based on distribution channel, the offline segment held a leading market share of 71.0% in 2018. Most consumers still prefer buying products at physical stores rather than online portals as in-store allows the choice of physical verification of the products. Nevertheless, the online segment is anticipated to expand at the highest CAGR of 8.4% from 2019 to 2025, propelled by widespread penetration of mobile phones and the internet. Introduction of innovative delivery options, such as same day delivery, by prominent vendors, coupled with growing penetration of e-commerce vendors in tier II and tier III cities, is expected to have a positive impact on the growth of the market.

Asia Pacific held the leading share in 2018 owing to the presence of a large number of smartphone users. China is the dominant market in the region, fueled by soaring sales of protective covers via offline as well as online channels. The Middle East and Africa market is expected to expand at a CAGR of 6.0% over the forecast period, thanks to growing availability of mobile phones in countries such as South Africa, Ghana, and Kenya and increasing penetration of prominent vendors in the regional market. For instance, in July 2019, Vivo announced its plans to expand its business in Middle East & Africa market. As part of the expansion plan, the company’s latest products will be made available in UAE, Morocco, Bahrain, Nigeria, Egypt, Kenya, and Saudi Arabia.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/mobile-phone-protective-cover-market

Further key findings from the report suggest:

• By product, the body glove segment held the leading share in 2018. Introduction of multi-layered cases that provide 360°protection is the main factor driving the sales of body glove protective covers over the forecast period
• The online segment is anticipated to expand at the highest CAGR of 8.4% from 2019 to 2025. Increasing internet penetration across the globe, coupled with faster and reliable delivery by e-retailers, is driving the segment
• Asia Pacific was the largest marketin 2018, accounting for a share of over 40.0% of the global revenue. Expansion of the middle-income population group in key markets like China and India is expected to play a key role in increasing spending on mobile phone and accessories such as protective covers
• The global mobile phone protective cover market is highly competitive in nature. Some of the prominent players are Otter Products LLC.; Shenzhen Ipaky Electronic Co., Ltd; CG Mobile.; Incipio, LLC; Griffin Technology; Amzer; MOKO; ZAGG Intellectual Property Holding Co., Inc.; Belkin International, Inc.; and XtremeGuard.

Grand View Research has segmented the global mobile phone protective cover market by product, distribution channel, and region:

Mobile Phone Protective Cover Product Outlook (Revenue, USD Million, 2015 - 2025)

• Body Glove
• Pouch
• Phone Skin
• Hybrid Case
• Others

Mobile Phone Protective Cover Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

• Offline
• Online

Mobile Phone Protective Cover Region Outlook (Revenue, USD Million, 2015 - 2025)

• North America
  • US.
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Food Safety Testing Market Estimated to Experience a Hike in Growth by 2025

The global food safety testing market size is expected to reach USD 30.1 billion by 2025, escalating at a CAGR of 7.7% over the forecast period, as per a new report by Grand View Research Inc. Rise in the outbreak of foodborne diseases and the enforcement of stringent regulatory norms regarding optimum quality of edible items are expected to drive the demand for product safety in the market over the projected period.

Governments and food producers have undertaken extensive efforts to improve the quality of edible products owing to health concerns and economic losses caused by contamination. In addition, the presence of authorities, such as the FDA and FSSAI, to ensure conformance to quality standards for the products, is expected to result in increased safety checks. The market for this type of safety checks is highly competitive in nature as key players compete not only with other companies that conduct tests but also with the internal analytics departments of end users and government agencies.

The food safety testing market is witnessing notable technological developments such as the usage of electrical biosensors in microbiological safety testing. This is expected to reduce the analysis time with increased accuracy in results. In addition, increasing expenditure by processing companies to ensure higher quality of edible items is expected to bode well for market growth.

The existence of inadequate regulatory infrastructure in underdeveloped countries due to limited resources and lack of restructuring of food regulatory agencies is expected to limit growth. However, the industry in Asia Pacific is expected to grow owing to notable growth of food processing sector in developing economies such as India and China and the enforcement of stringent regulations regarding product safety. Increasing awareness regarding quality checks and the examining of edible products are also expected to contribute to the market growth over the forecast period.

To request a sample copy or view summary of this report, click the link below:https://www.grandviewresearch.com/industry-analysis/food-safety-testing-industry

Further key findings from the report suggest:

• Allergen segment accounted for 12.8% of the revenue share of the market in 2018 owing to its extensive usage in advanced production processes and minimize contamination risks
• Dairy & dairy products segment is expected to grow at a CAGR of 7.7% from 2019 to 2025 owing to increasing assessment of shelf-life for milk & dairy products to demonstrate compliance with statutory requirements
• The food safety testing market in Asia Pacific is expected to grow at 8.9% from 2019 to 2025.

Grand View Research has segmented the global food safety testing market on the basis of test, end-use, and region:

Food Safety Testing Test Outlook (Revenue, USD Million, 2014 - 2025)

• Allergen Testing
• Chemical & Nutritional Testing
• Genetically Modified Organism (GMO) Testing
• Microbiological Testing
• Residues & Contamination Testing
• Others

Food Safety Testing Application Outlook (Revenue, USD Million, 2014 - 2025)

• Meat, Poultry & Seafood Products
• Dairy & Dairy Products
• Processed Food
• Beverages
• Cereals & Grains
• Others

Food Safety Testing Region Outlook (Revenue, USD Million, 2014 - 2025)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • Japan
  • India
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Isosorbide Market Size Is Expected To Reach USD 703.1 Million by 2025

The global isosorbide market size is expected to reach USD 703.1 million by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 8.5% during the forecast period. Rising health and environmental concerns regarding use of synthetic products, such as petroleum derived products, is estimated to fuel demand over the coming years.

Rising capacity of bio-based plastics in Asia Pacific, strong regulatory support for bio-based products, and stable demand from additives industry are the factors estimated to boost product demand in future. However, isosorbide made from starch is an eco-friendly option to synthetic polymers and this is a key trend estimated to continue influencing demand over the next few years.

Traditionally, Asia Pacific emerged as a dominant regional market owing to low raw material and labor cost. In addition, growing focus of the chemical industry on bio-based products is estimated to fuel market growth over the forecast period. Moreover, isosorbide has been identified as an emerging bio-based platform chemical by the U.S. Department of Energy.

Major chemical companies such as Mitsubishi Chemicals and SK Chemicals have been focusing on production of polymers based on isosorbide. Further, market players are concentrating on expansion of business across the globe to gain high market share in the global industry. Extensive R&D in the field and requirement to develop product differentiation leads to high levels of competition in the market.

To request a sample copy or view summary of this report, click the link below:https://www.grandviewresearch.com/industry-analysis/isosorbide-industry

Further key findings from the report suggest:

• The PEIT segment dominated overall market in 2018 and is estimated to expand at a CAGR of 9.7% in the projected period owing to enhanced heat resilience
• Polyurethane and PIS are the fastest growing applications and are projected to exhibit a CAGR of 7.9% and 8.8% respectively owing to properties like low polydispersity, high thermal stability, and glass transition temperature
• Resins and polymers remained the leading end-use industry owing to increasing interest of polymer industries in bio-based products and the presence of key manufacturers
• Additives are estimated to expand at the fastest pace with a revenue-based CAGR of 9.2% over the forecast period owing to strict policy regarding toxic nature of BPA and rising concern regarding toxic impacts of synthetic chemicals along with commercialization of bio-based isosorbide
• France-based Roquette has been investing heavily in developing and commercializing isosorbide on a large scale and also tied up with Mitsubishi Chemicals to manufacture polycarbonate using isosorbide.

Grand View Research has segmented the global isosorbide market on the basis of application, end use, and region:

Isosorbide Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

• Polyethylene Isosorbide Terephthalate (PEIT)
• Polycarbonate
• Polyurethane
• Polyester Polyisosorbide
• Isosorbide Diesters
• Others

Isosorbide End-use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

• Resins & Polymers
• Additives
• Others

Isosorbide Region Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

• North America
  • US.
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Distributed Energy Generation Market to Witness Soaring Growth by 2025|Key Industry Participants SIEMENS AG, Caterpillar Power Plants

The global distributed energy generation (DEG) market size is expected to reach USD 573.7 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 15.0% during the forecast period. Owing to their environmental benefits, preference for DEG systems will be higher as compared to conventional energy systems.

DEG eliminates the need for building a transmission capacity that reduces the line cost. In addition, low prices of DEG compared to conventional energy generation are anticipated to provide a fillip to the market. Moreover, innovations in DEG technologies, such as floating solar photovoltaic, is likely to propel the market. Decreasing cost of solar PVs is playing an instrumental role in the development of the market. Feed-in tariffs in regions including Asia Pacific, Europe, and North America are poised to stoke the growth of the market.

E.ON SE; Vestas Wind Systems A/S; Capstone Turbine Corporation; Caterpillar Power Plants; Ballard Power Systems Inc.; Doosan Fuel Cell America; FuelCell Energy Inc.; Rolls-Royce Power Systems AG; Sharp Corporation; Suzlon Energy Limited; General Electric (GE); First Solar; SIEMENS AG; Toyota Turbine and Systems Inc.; and ENERCON GMBH are some of the major players in DEG market.

Access Research Report of Distributed Energy Generation Market@ www.grandviewresearch.com/industry-analysis/distributed-energy-generation-industry

Further key findings from the report suggest:

• The wind turbine segment accounted for revenue share of over 29.0% in 2016. Factors such as high efficiency, redundant safety, and quiet operation are the key characteristics projected to contribute to the growth of the wind turbine segment over the forecast period
• In 2016, solar photovoltaic accounted for 21.0% of the overall market volume and is expected to register a CAGR of 16.8% during the forecast period. The growth of the segment can be attributed to decrease in its prices, which has increased the local utilization, thereby enabling the switch from traditional energy sources
• Supportive regulations and favorable government policies such as net metering are likely to increase the number of DEG installations for residential applications in rural and underdeveloped areas
• Several countries are committed to reducing carbon emissions under the Kyoto protocol, which is driven by the European Union. A number of countries have switched to renewable energy generation
• Regional expansion and R&D are the key strategies adopted by major market players to strengthen their position. Companies in the market are continuously trying to innovate and develop new technologies
• In July 2015, Ballard Power Systems entered into an agreement with AkzoNobel to provide one-megawatt ClearGen fuel cell distributed generation system for Hydrogène de France (HDF) to generate electricity and supply it to local grid.

Grand View Research has segmented the global distributed energy generation (DEG) market on the basis of technology, application, and region:

Distributed Energy Generation (DEG) Technology Outlook (Volume, Megawatts; Revenue, USD Million, 2014 - 2025)

• Wind Turbine
• Reciprocating Engines
• Fuel Cells
• Solar Photovoltaic
• Gas & Steam Turbines

Distributed Energy Generation (DEG) Application Outlook (Volume, Megawatts; Revenue, USD Million, 2014 - 2025)

• Residential
• Commercial & Industrial

Distributed Energy Generation (DEG) Regional Outlook (Volume, Megawatts; Revenue, USD Million, 2014 - 2025)

• North America
  • US.
• Europe
  • Germany
  • Italy
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Liquefied Petroleum Gas Market Demand Is Expected To Exceed 380 Million Tons by 2024|Top Industry Players Sinopec, ExxonMobil

The Report Liquefied Petroleum Gas (LPG) Market Analysis By Source (Refinery, Associated Gas, Non-Associated Gas), By Application (Residential/Commercial, Chemical, Industrial, Auto Fuel, Refinery) And Segment Forecast To 2024

The global liquefied petroleum gas (LPG) market is expected to reach USD 147.76 billion by 2024, according to a new report by Grand View Research, Inc. Increasing government initiatives to promote the use of LPG as an auto fuel especially in emerging economies is expected to boost the global market. Also, on account of various benefits offered by the product, such as low-carbon emissions, low cost, and operational benefits, its demand is expected to witness significant growth over the forecast period.

Liquefied petroleum gas is increasing as an attractive option for commercial properties combined with renewable and low-carbon technologies to integrate a reliable year-round power supply with carbon savings.

Refinery was the biggest source of LPG and accounted for over 40% of the total volume in 2015 and is expected to exceed a total volume of 165 million tons by 2024. The source of the fuel varies with area, for instance, the majority of the product demand in North America is derived mostly from natural gas processing, whereas Asia Pacific is dependent on refineries for its production. LPG produced from non-associated gas is expected to show significant growth over the forecast period due to increase in shale gas resources specifically in the U.S. and China.

Access Research Report of LPG Market@ www.grandviewresearch.com/industry-analysis/liquefied-petroleum-gas-industry

Further key findings from the report suggest:

• The global liquefied petroleum gas (LPG) market demand was 278 million tons in 2015 and is expected to exceed 380 million tons by 2024, growing at a CAGR of 3.6% from 2016 to 2024
• Non-associated gas reserves are expected to witness the fastest growth over the forecast period in terms of market volume. The segment is expected to reach a total demand exceeding 118 million tons by 2024.
• Residential & commercial application segment was valued over USD 55 billion in 2015 and is estimated to witness the fastest growth in next eight years. High demand as a chief cooking and heating fuel in residential as well as commercial sectors has been the major factor responsible for market penetration in the segment.
• Auto fuel accounted for over 10% of the global LPG demand in 2015 and is anticipated to reach a total volume exceeding 30 million tons by 2024, growing at an estimated CAGR of 3.6% from 2016 to 2024
• Asia Pacific liquefied petroleum gas market dominated the global consumption and accounted for over 33% of the total volume in 2015. Asia Pacific is anticipated to witness a high CAGR of over 4.9% during the forecast period. Increasing consumption of LPG in domestic usage such as cooking fuel coupled with government initiatives mainly in China, India, and Indonesia is expected to boost LPG demand in the region.
• Key industry participants in operating in the global LPG market include Aygaz AS, Bayegan, China Gas Holdings Ltd., Chevron, Sinopec, ExxonMobil, Oman Oil Company, Petredec LPG, Phillips 66, Reliance Industries Limited (RIL), and Oil and Natural Gas Corporation Ltd.

Grand View Research has segmented the global liquefied petroleum gas (LPG) market on the basis of source, application and region:

Global LPG Source Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2024)

• Refinery
• Associated Gas
• Non-associated Gas

Global LPG Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2024)

• Residential/Commercial
• Chemical
• Industrial
• Auto Fuel
• Refinery
• Others

Global LPG Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2024)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Shale Gas Market is Likely To Touch USD 67.02 Billion by 2020|Key Industry Participants Encana Corporation

The global shale gas market is expected to reach USD 67.02 billion by 2020, according to a new study by Grand View Research, Inc. Depleting conventional energy reserves across the globe has prompted the industry to shift focus towards developing alternative energy sources which is expected to remain a key driving factor for shale gas demand over the next six years. In addition, regulatory support for developing unconventional gases including shale gas is also expected to enhance commercialization over the forecast period. However, environmental concern, especially excessive usage and contamination of water during shale gas production process is expected to be a key challenge for industry participants over the next six years.

Power generation emerged as the leading application market for shale gas and accounted for 30.4% of total market volume in 2013. Environmental concerns regarding power generation via conventional energy coupled with regulatory support for development of unconventional energy sourcesfor power generation is expected to remain a key driving factor over the forecast period. However, transportation is expected to be the fastest growing application market for shale gas at an estimated CAGR of 10.8% from 2014 to 2020. Growing demand for alternative fuels such as compressed natural gas (CNG) and autogas (LPG) is expected to drive the demand for shale gas in transportation industry over the next six years.

Access Research Report of Shale Gas Market@ www.grandviewresearch.com/industry-analysis/shale-gas-industry

Further Key findings from the study suggest:

• The global shale gas production was 10,826.6 bcf in 2013 and is expected to reach 18,211.3 bcf by 2020, growing at a CAGR of 8.3% from 2014 to 2020.
• S emerged as the leading shale gas producing country and accounted for 91.8% of total market volume in 2013. The U.S. shale boom has changed the overall energy scenario of the nation, prior to shale gas development; the U.S. was a net importer of natural gas. However, due to rapid exploration and production activities of shale gas, U.S. for the first time in many years emerged as a net exporter of natural gas in 2012. However, Asia Pacific is expected to be the fastest growing producer for shale gas at an estimated CAGR of 66.7% from 2015 to 2020. The Chinese government has also been providing substantial support in form of financial incentives and tax benefits to companies operating in shale gas market in China which is expected to drive the market over the forecast period.
• The global market for shale gas is highly competitive in nature and is led by top multinational oil & gas conglomerates which are present across the value chain. Conventional oil & gas companies coupled with companies focusing only on alternative energy forms the mix of the market. Shift in focus towards developing shale gas basins in China is expected to remain a key strategy for the market participants. Some of the leading companies in the global shale gas market include Anadarko Petroleum Corporation, Antero Resources, BHP Billiton, Cabot Oil & Gas, Chesapeake Energy Corporation, Devon Energy, Encana Corporation, Exxon Mobil Corporation, Reliance Industries Limited, Royal Dutch Shell, SM Energy, Statoil, Talisman Energy Inc. and Total SA among some other companies.

Grand View Research has segmented the global shale gas market on the basis of application and region:

Global Shale Gas Application Outlook (Volume, Bcf; Revenue, USD billion)

• Industrial
• Power Generation
• Residential
• Commercial
• Transportation

Shale Gas Regional Outlook

• North America
  • US.
  • Canada
• Asia Pacific

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Plastic Compounding Market Poised for Robust Value CAGR of Over 6.5% Through 2027

The global plastic compounding market size is projected to reach USD 104.41 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.5% during the forecast period. Rapidly developing construction and automobile sectors are anticipated to drive the demand for interiors, exteriors, and under hood components. Maximum application of plastic compounding in under hood components in the automotive industry, building interior and exteriors in construction and infrastructure industries, and in electronics, durables, and wire and cable industries is anticipated to further fuel the growth.

Polyethylene Terephthalate (PET), is the plastic used for manufacturing bottle containers used for packaged water and carbonated beverages. As a raw material, PET is recognized as a safe, strong, flexible, non-toxic, and lightweight material that is 100% recyclable. Hence, it has gained wide acceptability and in turn is anticipated to drive the growth of the market for plastic compounding over the forecast period.

Asia Pacific was the leading revenue generator for PET compound segment in 2019. Ever-increasing demand for beverages-mainly carbonated beverages and nutritional drinks-is anticipated to drive the regional consumption of PET compound. This trend is favored by rise in population, changing lifestyle, and emergence of domestic beverage manufacturers. Presence of large pool of contract bottlers in the region shall also impact the scope of packaging application in Asia Pacific.

Traditionally, construction industry has been a major consumer of plastics with the product application ranging from pipe fittings and insulation to masonry materials and equipment. Plastic compounds are modified in accordance to their requirements. For instance, flame retardant additives are added to Polyvinyl Chloride (PVC) compounds, and form a very crucial aspect of building materials.

Developing countries, such as Mexico are expected to benefit from rising construction spending and inclination of consumers toward utilizing sustainable and lightweight building materials in place of conventional materials. The expanding automotive sector and changing consumer buying behavior from considering cars as luxuries to necessities are also significant factors anticipated to positively impact the plastics sector and drive compounding activities in the region.

Access Research Report of Plastic Compounding Market@ www.grandviewresearch.com/industry-analysis/plastic-compounding-market

Further key findings from the report suggest:

• In terms of revenue and volume, polypropylene is the most consumed plastic compounding product. The rise in its production can be attributed to high demand from packaging and medical device industries across the globe
• Increasing requirement for flame retardancy, heat resistance, and improved serviceability is anticipated to drive growth in electronics and electrical industry
• Construction is the leading application segment for polyethylene compounds with the segment accounting for a mass application globally
• Major plastic compound manufacturers have been acquiring independent compounding facilities, rather than establishing plants, to strengthen their position
• Key players operating in the plastic compounding market include BASF SE., LyondellBasell Industries, N.V., and The Dow Chemical Company

Grand View Research has segmented the global plastic compounding market on the basis of product, application, and region:

Plastic Compounding Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Polyethylene
• Polypropylene (PP)
• Thermoplastic Vulcanizates (TPV)
• Thermoplastic Polyolefins (TPO)
• Poly Vinyl Chloride (PVC)
• Polystyrene
• Polyethylene (PET)
• Polybutylene Terephthalate (PBT)
• Polyamide
• Polycarbonate
• Acrylonitrile Butadiene Styrene (ABS)
• Others

Plastic Compounding Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Automotive
• Building & Construction
• Electrical & Electronics
• Packaging
• Consumer Goods
• Industrial Machinery
• Medical Devices
• Optical Media
• Others

Plastic Compounding Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Medical Plastic Market Size, Industry Share And Growth Analysis For 2019-2025

The global medical plastics market size is expected to reach USD 33.51 billion by 2025, according to a new study by Grand View Research, Inc. It is projected to expand at a CAGR of 6.1% during the forecast period. Robust growth of medical industry coupled with rising healthcare expenditure across the world are expected to drive the market.

The market is expected to register growth due to the high adoption of plastics for implants on account of their chemical inertness and superior fatigue resistance. Demand for medical device packaging is likely to be driven by the rising adoption of in-house and advanced medical devices.

Asia Pacific medical plastic market is expected to progress at a CAGR of 6.9% over the forecast period, by revenue, on account of rising consumer expenditure on healthcare. In addition, the low cost of medical procedures makes it a favorable destination for medical tourism, thereby leading to high demand for medical devices.

Medical components application segment accounted for a majority of the market share in 2018, driven by the high consumption of superior grade plastics in the production of catheters, syringes, containers, medical bags, and surgical equipment. Requirement for easier sterilization coupled with the need for lightweight and high-strength products is expected to propel the product demand in the aforementioned application.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/medical-plastics-market

Further key findings from the repot suggest:

• In terms of revenue, Asia Pacific led the overall market and is projected to expand at a CAGR of 6.9% over the forecast period. Increasing demand from various medical application segments in the region, particularly in China and India is likely to drive the growth
• Medical components was the largest application segment in 2018 and is anticipated to continue leading the overall market during the forecast period
• The companies in the medical plastic market are involved in the production premium quality plastic composites used for specialized applications to achieve a high degree of product differentiation
• The market witnesses a large number of R&D investments for the production of advanced plastics. The development of premium engineered plastics is expected to drive the growth

Grand View Research has segmented the global medical plastic market on the basis of application and region:

Medical Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Medical Device Packaging
• Medical Components
• Orthopedic Implant Packaging
• Orthopedic Soft Goods
• Wound Care
• Cleanroom Supplies
• BioPharm Devices
• Mobility Aids
• Sterilization and Infection Prevention
• Tooth Implants
• Denture Base Material
• Other Implants
• Others

Medical Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • Italy
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research    reports, customized research reports, and consulting services. To help clients make informed business    decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

3D Printing Metal Market to Grow at CAGR of 31.8% through 2025|Top Industry Players 3D Systems Corporation, Materialise NV

The global 3D printing metal market size is expected to reach USD 3.05 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 31.8% during the forecast period. Increasing adoption of 3D printing as a mainstream manufacturing method and rising investments in research & development (R&D) of 3D metal printing are anticipated to fuel product demand. Use of 3D metal printing is prominent in the aerospace & defense industry owing to rapid prototyping and manufacturing speed offered by 3D printing.

The aerospace & defense (A&D) industry was an early adopter of the product. This is leading to high utilization of materials such as titanium and steel in this industry. 3D printing grants flexibility to produce complex equipment geometries, which are otherwise difficult to build using a traditional manufacturing.

The powder segment dominated the market in 2017. It is expected to progress at a higher CAGR in terms of volume over the forecast period. High packing density and spherical morphology of metal powders ensure good flowability that leads to consistent and predictable powder dosing and layers.

Titanium was the largest contributor to market growth in 2017, owing to its significant adoption in aerospace applications. Titanium-based alloys have a very high melting point and are strongly resistant to oxidation and acids. This is necessary for manufacturing critical aircraft parts. Moreover, aircraft designers are able to achieve higher thrust to weight of engine ratio due to high strength and low density of titanium.

North America emerged as the largest region in 2017 in terms of employing 3D printing metals. Presence of numerous aerospace companies are expected to stoke the growth of the regional market. Moreover, high defense expenditure across the region is anticipated to boost the utilization of the product in aerospace & defense.

The U.S. has been a major producer and consumer of 3D printing metals on a global scale. Presence of key industry players such as 3D Systems Corporation and ExOne GmbH is expected to drive the market on account of innovative product launches and expansion initiatives in the country. Moreover, increasing integration of advanced technologies such as 3D printing with several manufacturing processes has been escalating the growth of the market in the country.

Technological limitations of additive manufacturing for large-scale production of heavy parts are the primary factors restraining market growth. In addition, high-cost of printers and raw materials such as metal powders is also anticipated to negatively influence the growth of the market.

However, rising investments in R&D activities by academicians and companies are expected to facilitate cost reduction as well as increased utilization of the product. Major players in the global industry are involved in launching new products, joint ventures, and acquisitions to increase their customer reach in the international markets.

Access Research Report of 3D Printing Metal Market@ www.grandviewresearch.com/industry-analysis/3d-metal-printing-market

Further key findings from the report suggest:

• Aerospace & defense is anticipated to witness the fastest growth at a CAGR of 34.2% over the forecast period, in terms of revenue, on account of reduced lead time offered by 3D printing and increasing demand for highly customizable parts
• The titanium segment captured the highest revenue share of 63.0% in 2017 due to its high corrosion resistance, high tensile strength, and low density
• The 3D printing metals market in Asia Pacific was valued at USD 79.7 million in 2017 with China and Japan emerging as major markets.
• In terms of volume, the powder segment accounted for 92.6% of the market in 2017 owing to superior quality offered by metal powders for manufacturing process of metal parts
• Key companies are attempting to provide superior quality products and expand their product portfolio. For instance, in September 2017, ExOne expanded its product offerings by announcing availability of 17-4PH stainless steel as a printable material.

Grand View Research has segmented the global 3D printing metals market on the basis of form, application, product, and region:

3D Printing Metals Form Outlook (Revenue, USD Million; Volume, Tons, 2014 - 2025)

• Powder
• Filament

3D Printing Metals Application Outlook (Revenue, USD Million; Volume, Tons, 2014 - 2025)

• Aerospace & defense
• Automotive
• Medical & dental
• Others

3D Printing Metals Product Outlook (Revenue, USD Million; Volume, Tons, 2014 - 2025)

• Titanium
• Nickel
• Steel
• Aluminum
• Others

3D Printing Metals Regional Outlook (Revenue, USD Million; Volume, Tons, 2014 - 2025)

• North America
  • US.
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research    reports, customized research reports, and consulting services. To help clients make informed business    decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Fuel Cell Market to Rise at 15.5% CAGR during 2020 to 2027

The global fuel cell market size is expected to reach USD 33.09 billion by 2027, exhibiting a CAGR of 15.5% over the forecast period, according to a new report published by Grand View Research, Inc. The rise in demand for unconventional energy sources is a key factor driving the growth.

North America accounted for the largest market share in 2019 and is projected to continue leading over the forecast period, due to the commercialization and adoption of electric vehicles. However, Asia Pacific emerged as a growing market in terms of shipments. Rising demand for combined heat and power systems in is projected to drive the demand for fuel cell in the region.

Power-based electricity generation is effective in minimizing emission of carbon dioxide or any other hazardous pollutants. Hence, fuel cell technology plays a vital role in dealing with environmental issues as well as encouraging the use of renewable carriers of energy. Ongoing product developments and innovation is expected to open new opportunities for emerging players.

Using fuel cells can minimize the dependency on non-renewable energy sources such as coal, natural gas, and petrochemical derivatives. Fuel cells employ electrochemical process for generation of energy and result in less combustion of fuels. Hybrid systems using conventional engines and fuel cells are deployed in most of electric vehicles.

Access Research Report of Fuel Cell Market @ www.grandviewresearch.com/industry-analysis/fuel-cell-market

Further key findings from the report suggest:

• The fuel cell market is highly consolidated with major companies accounting for over 80% of industry demand. Hydrogen is anticipated to lead the market owing to continuous R&D activities
• North America is expected to emerge as a largest market in terms of fuel cell installation due to regulatory scenario, technological advancements, and investments by federal government. Hence, public-private partnerships is crucial for gaining technological advantage
• Government regulations and initiatives for minimizing emission rates and capacity to make use of domestic energy sources are some of the factors propelling the demand for hydrogen power plants
• China is projected to showcase significant growth as a result of majority of Chinese fuel cell manufacturers emphasize on developing proton exchange membrane fuel cells which implies incorporating fuel cells in various modes of transport
• Key market players include Fuel Cell Energy, Inc.; Ballard Power Systems; Hydrogenics Corporation; SFC Energy AG; Nedstack Fuel Cell Technology B.V.; Bloom Energy; Doosan Fuel Cell America, Inc.; Ceres Power Holdings Plc; and Plug Power, Inc. Apart from these, several other automobile manufacturers are in the process of launching their fuel cell vehicles

Grand View Research has segmented the global fuel cell market on the basis of product, application, and region:

Fuel Cell Product Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2016 - 2027)

• PEMFC
• PAFC
• SOFC
• MCFC
• Others

Fuel Cell Application Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2016 - 2027)

• Stationary
• Transportation
• Portable

Fuel Cell Regional Outlook (Volume, Units; Capacity, Mega Watt; Revenue, USD Million, 2016 - 2027)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Taiwan
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research    reports, customized research reports, and consulting services. To help clients make informed business    decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Flywheel Energy Storage Market is Expected to Expand $479.3 Million By 2025| Key Industry Participants Piller Group GmbH, Powerthru

The global flywheel energy storage market size is anticipated to be valued at USD 479.3 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.9% during the forecast period. Growing energy storage and automobile industries is expected to drive this growth.

Flywheel system accumulate energy and use it to deliver continuous power output where energy source is not continuous. In this system, electric energy can be generated by spinning the flywheel, which makes it an ideal solution in regulating supply. As compared to a solar photovoltaic cell or wind turbine, flywheels can produce energy throughout the day.

On the basis of application, the market is segmented into UPS, distributed energy generation, transport, data centers, and others. Data center is the largest application segment due to the growing demand for energy storage devices to overcome the risk of interruptions at the main power supply. The segment held around 44.0% of the global market share in 2018 and is expected to grow significantly over the forecast period.

High power density, long life cycle, and no degradation over time are some of the properties that work in favor of flywheel energy storage systems in vehicles. Growing automobile and transport industries are expected to drive this market over the forecast period. Transport segment is projected to register a CAGR of 10.6% over the forecast period.

Growing demand for Uninterruptible Power Supply (UPS) from end-use industries is expected to have a positive impact on the market growth. The market is consolidated with the presence of many small- and large-scale manufacturers. These players adopt strategies such as mergers and acquisitions, expansions, new product developments, along with joint ventures and collaborations, to increase their market share.

Access Research Report of Flywheel Energy Storage Market @ www.grandviewresearch.com/industry-analysis/flywheel-energy-storage-market

Further key findings from the report suggest:

• S. is projected to expand at a CAGR of 9.6% in terms of revenue over the forecast period. U.S. is among the largest consumers of the market. Problems arising due to interruptions and fluctuations of power supply have resulted in increasing demand for UPS systems from the commercial sector of the country
• Germany, in terms of revenue, is projected to grow over USD 20.05 million by 2025. This growth can be attributed to rising demand from the automobile industry
• Japan is anticipated to reach USD 2.04 million in 2025, driven by growing demand from the transport and energy storage sectors
• Key players operating in the global flywheel energy storage market are Rotonix USA, Inc.; Calnetix Technologies, LLC; VYCON, Inc.; Powerthru; Amber Kinetics, Inc.; Active Power; Beacon Power, LLC; Piller Group GmbH; Power Tree; Temporal Power Ltd.; and Pentadyne Power Corporation.

Grand View Research has segmented the global flywheel energy storage market on the basis of application and region:

Flywheel Energy Storage Application Outlook (Capacity, KW; Revenue, USD Thousand, 2015 - 2025)

• Uninterruptible Power Supply (UPS)
• Distributed Energy Generation
• Transport
• Data Centers
• Others

Flywheel Energy Storage Regional Outlook (Capacity, KW; Revenue, USD Thousand, 2015 - 2025)

• North America
  • US.
• Europe
  • Germany
  • UK.
• Asia Pacific
  • South Korea
  • Japan
• Central & South America
  • Brazil
• Middle East and Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Solar PV Market Comprehensive Study by Key Players First Solar, SunRun by 2020

The global solar PV market is expected to reach 489.79 GW by 2020, according to a new report by Grand View Research, Inc. Rising demand for sustainable energy resources coupled with favorable regulatory policies, is expected to drive the market growth over the forecast period.

Supportive regulations involving federal subsidy and incentives expected to be the prime factors impacting the industry growth on a positive note. Europe has been a major market for solar PV owing to early adoption of the technology in the region owing to high consumer awareness and positive government outlook in region.

Increasing demand for renewable energy sources owing to rising consumer awareness towards cost benefits associated with the technology is expected to propel growth. Furthermore, depleting fossil fuel resources coupled with growing demand for durable energy sources is expected to have a positive impact on the industry growth.

The technology offer low conversion efficiencies as compared to conversional energy sources including oil and biomass. Furthermore, the solar PV performance gets affected by various factors including type of raw material used for solar cell manufacturing, availability of sunlight and solar PV designs which is expected to hamper its growth over the forecast period.

Access Research Report of Solar PV Market@ www.grandviewresearch.com/industry-analysis/solar-pv-industry

Further key findings from the report suggest:

• Utility is expected to be the fastest growing application segment, progressing at a CAGR of 21.3% over the forecast period, owing to the high demand for solar PV in electricity, and transportation
• Non-residential application segment accounted for 26.3% of the total market share in 2016, high employment of solar PV in industrial processes for fulfilling heating requirements
• European market is expected to witness a slow growth rate as compared to other regions, on account of early adoption of the technology in the region which led to saturation of the industry
• Asia Pacific accounted for 17.9% of the total market share in 2016, on account of the favorable government regulations and initiatives taken by the government to install clean energy resources in order to curb the prevailing issue of pollution
• The major players in the market are investing in R&D activities in order to come up with efficient and high performance systems in order to tap the rising consumer attention and to compete with the alternative energy resources

Grand View Research has segmented the global solar PV market on the basis of application, and region:

Solar PV Application Outlook (Installed Capacity, MW; 2012 - 2020)

• Residential
• Non-Residential/Commercial
• Utility

Solar PV Regional Outlook (Installed Capacity, MW; 2012 - 2020)

• North America
• Europe
• Asia Pacific
• Latin America
• Rest of the World

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.