NewsInsights24

  Seismic surveys are extensively used in oil and gas exploration and production (E&P) activities to locate hydrocarbon deposits and explore potential drilling sites. Seismic surveys provide 3D images of subsurface rock layers, allowing companies to map oil and gas reservoirs and develop plans for exploration and production. The growing demand for energy and increasing oil prices in recent years have led to resurgence in oil and gas E&P projects globally. The Global Seismic Survey Market Size is estimated to be valued at US$ 25.19 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increased oil and gas E&P activities have been a key growth driver for seismic survey market over the recent past. Seismic surveys are extensively used in greenfield and brownfield E&P projects to gain vital subsurface information before drilling. With ris

  Offshore wind turbines produce clean renewable energy by harnessing the power of wind blowing over large bodies of water such as oceans and seas. Offshore wind energy provides a reliable source of power for coastal communities without the emission of greenhouse gases or pollution. Advancements in turbine design and floating turbine technology have helped harness wind energy more efficiently even in deep waters. The Global Offshore Wind Market Size is estimated to be valued at US$ 40 Billion in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: Technological advancements is one of the key trends driving the growth of the offshore wind market. Manufacturers are constantly innovating turbine designs to increase efficiency and energy output. Larger rotor diameters and higher tower heights allow turbines to access stronger and more consistent winds farther away

  Gas turbines are widely used in the power sector to generate electricity. They offer reduced capital expenditures and lower operating costs compared to steam turbines. Gas turbines allow efficient generation of power from natural gas and other fuels. They play a vital role in meeting base load as well as peak power demand. There are several advantages of gas turbines such as high efficiency, low emissions, flexible operations and compact size. The global Gas Turbine MRO Market in the Power Sector is estimated to be valued at US$ 10 Billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights. Market key trends: Increased reliance on gas turbines for power generation is a major trend driving the gas turbine MRO market in the power sector. Gas turbines are widely adopted to complement renewable energy sources which exhibit intermittent generation. They help maintain grid stability

  Surge protection devices are widely used to provide protection from voltage fluctuations caused due to environmental factors like lightening strikes. These devices protect sensitive electronic equipment from high voltage surges which can damage circuits. Growing construction of commercial spaces and infrastructure development activities have increased the demand for protection of electronic equipment from power surges. The global Surge Protection Devices Market is estimated to be valued at US$ 3.8 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Growing infrastructure development activities across both developed and developing countries is positively impacting the surge protection devices market growth. Surge protection devices find extensive usage in power distribution networks, industrial facilities, residential buildings and various other critica

  Overhead Line products play a crucial role in ensuring uninterrupted power supply by transmitting electricity over long distances. Additionally, overhead line products such as fiber optic cables and distributed acoustic sensing solutions enable real-time monitoring of power infrastructure for predictive maintenance and reliability enhancement. The global Overhead Line Product Market is estimated to be valued at US$ 19.78 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The expansion of smart grid infrastructure across the globe is one of the major trends driving the growth of the Overhead Line Product Market. Modernization of aging power grids with smart grid technologies involves deployment of sensors and IoT-enabled equipment for monitoring and control. This requires high performance overhead line products that can seamlessly integrate with advan

  Refuse-derived fuel (RDF) helps manage municipal solid waste in an environment-friendly manner. RDF is produced by processing non-recyclable components of solid waste to reduce its volume and create a fuel that can be used in cement kilns and power plants. With growing concerns about proper waste management and decreasing reliance on landfilling, RDF has emerged as a sustainable solution. The global Refuse-derived Fuel Market is estimated to be valued at US$ 4.91 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increased adoption of RDF is one of the major trends in the market. With growing emphasis on proper waste management and limited land availability for landfilling, more countries and regions are promoting the use of waste-to-energy technologies like RDF. Manufacturers are also exploring advanced production technologies to further reduce

  Hydropower refers to electricity generation from hydropower plants, where the kinetic energy of moving water is converted into electrical energy. Hydropower is one of the most widely used and cost-effective renewable energy sources globally due to its low running costs. Hydropower plants play a vital role in ensuring grid stability and electricity reliability. Hydropower is increasingly being incorporated as an integral part of renewable energy strategies across various countries. The global hydropower Market is estimated to be valued at US$ 225.87 Billion in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving growth in the global hydropower market is the growing emphasis on developing renewable sources of energy coupled with supportive government policies and initiatives regarding the adoption of clean energy. Many countries ha

  Steam turbines are commonly used in renewable energy power plants, specifically geothermal and solar thermal power plants. They are integral components that help convert heat energy from geothermal reservoirs or concentrated solar power into rotational shaft energy, which can then be used to generate electricity via a generator coupled to the turbine. The increasing worldwide emphasis on transitioning to cleaner and more sustainable energy sources has led to rapid growth in investments and construction of renewable energy projects based on geothermal and solar thermal technologies. This in turn is driving demand for steam turbines that help maximize the conversion of renewable heat into usable electric power. The global Steam Turbine Market is estimated to be valued at US$ 16.63 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The key driver behind

The global LNG Bunkering Market is estimated to be valued at US$ 1084.62 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Liquefied natural gas (LNG) bunkering is the provision of liquefied natural gas to ships for their own consumption. LNG is used as an alternative marine fuel as it is a cleaner fuel with lower emissions. It reduces nitrogen oxide and sulfur oxide emissions from vessels. Market key trends: One of the key trends fueling the growth of the LNG bunkering market is the stringent regulations regarding sulfur content in marine fuels. The International Maritime Organization has imposed regulations to reduce sulfur emissions from marine fuels by 85% by 2030 compared to 2008 levels. Currently, vessels can only use marine fuels containing 0.5% sulfur or less outside emission control areas. This is driving the adoption of LNG as a marine fuel

  Market Overview: Gypsum is a soft sulfate mineral composed of calcium sulfate dihydrate, with the chemical formula CaSO4•2H2O. It is widely used as a fertilizer for agriculture due to its calcium and sulfur properties. In construction, gypsum is employed in the production of plaster of Paris, blackboard chalk, drywall, and other building materials. The global Gypsum Mining Market is estimated to be valued at US$ 138.85 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving the gypsum mining market is the increasing demand for drywall in residential and commercial construction. Drywall offers advantages over other interior wall materials as it is lightweight, cuts and installs easily, and provides fire resistance. Additionally, rapid urbanization in emerging economies is leading to infrastructural development and housing pro

The global Wind Turbine Nacelle Market is estimated to be valued at US$ 7.52 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The wind turbine nacelle houses crucial components like generator, gearbox, and control systems. A nacelle protects these components from harsh weather conditions and allows them to rotate 360 degrees for maximum wind capture. Growing demand for renewable energy sources is driving the need for wind turbines which in turn is promoting the growth of the wind turbine nacelle market. Market key trends: One of the key trends driving the market growth is the increasing offshore wind power installations. Offshore wind farms experience higher wind speeds, which results in greater energy production than onshore installations. However, offshore nacelles face harsher environments and require corrosion resistance, quality materials, and low

The global Flare Gas Recovery Systems Market is estimated to be valued at US$ 3.93 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Flare gas recovery systems help capture flare gases from petroleum, natural gas, and chemical manufacturing facilities. They compress and recover gas mixtures containing hydrogen, methane and heavier hydrocarbons which are then utilized for various downstream applications or reinjected into pipelines for transportation. Market key trends: One of the key trends driving the flare gas recovery systems market is the rise in demand for green hydrogen production. As governments and organizations across the world seek to decarbonize industries and shift to cleaner sources of energy, there is significant investment in technologies that can produce hydrogen economically from renewable energy sources like solar and wind. Flare gas

The Gas Turbine MRO Market in the Power Sector is estimated to be valued at US$ 13.07 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The gas turbine MRO market in the power sector deals with maintenance, repair, and overhaul services for gas turbines used in power generation. Gas turbines are critical equipment used in power plants and require routine maintenance and component replacement to function efficiently and reduce failure risks. Their MRO helps extend asset life by ensuring reliable operation as per performance standards. Market key trends: One of the major trends driving the gas turbine MRO market is the shifting focus towards preventive maintenance. Gas turbines are capital-intensive equipment and any failure can result in high repair costs and loss of generation. Therefore, most utilities have started following strict preventive maint

The Power-to-Gas Market is estimated to be valued at US$ 33.96 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Power-to-gas technology converts electricity from renewable sources such as solar and wind into hydrogen or methane gas by electrolysis or methanation. This allows the excess and intermittent renewable electricity to be stored for later use. Power-to-gas helps balance energy supply and demand by storing surplus renewable energy that can later be used as fuel. Market key trends: Large-scale energy storage is becoming increasingly crucial with the growing use of renewable but intermittent energy sources like solar and wind. Power-to-gas provides a means of long-term, large-scale energy storage by converting surplus renewable energy into hydrogen or methane gas. Its ability to store excess renewable energy production on a large scale is driving more