Concentrating Solar Power Market will grow as demand for electricity due to the increasing population: Radiant Insights

“Radiant Insights – Market Research and Consulting”
United States Concentrating Solar Power market competition by top manufacturers/players, with Concentrating Solar Power sales volume, price, revenue (Million USD) and market share for each manufacturer/player

According to a report available on Radiant Insights, Inc., the United States concentrating solar power market is highly promising in nature. It is anticipated to grow at a remarkable CAGR during the forecast period (2017 to 2022). Growing demand for electricity due to increasing population is likely to drive the demand for solar electricity via concentrating solar power (CSP) systems. Such systems are highly efficient, safe for the environment, and can reduce dependency on non-renewable resources.

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Growing awareness regarding renewable energy and strict government regulations to reduce carbon emissions are expected to propel market growth. Increasing adoption of clean energy over non-renewable energy is anticipated to drive the market in coming years. Improved heat storage ability, greater capacity, and higher efficiency are likely to contribute well to the growth of the market. Supportive government initiatives and reduction in component costs can also augment the uptake of concentrating solar power in United States.

Concentrating solar power systems are equipped with advanced technology to store energy even in the absence of sunlight. The energy is stored in the system in the form of heat. This unique property of CSPs is a key advantage it presents over other conventional systems. In addition, reliable power supply and comfort in usage is likely to increase the demand for CSPs in coming years.

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Considering the rising demand, most manufacturing companies are working continuously to make CSPs more efficient for consumer use. For instance, U.S.-based Company Sandia National Laboratories recently built concentrating solar power receivers resembling a fractal. These receivers are believed to be 20% more efficient than existing technologies. Generally, receiver panels in CSP facilities are made up of tubes and are arranged in flat cylinders. Flat arrangement of receiver panels renders them incapable of capturing 100% of the light. To improve the efficiency of receiver panels, the team of researchers at Sandia made few changes in the design. The newly designed receiver panels can now capture more of the sunlight.

High implementation cost is likely to be major challenge for the market, unless supported by regulatory authorities and government institutions. In addition, growing competition in the market and availability of alternative products can create an obstruction in the growth of this market. However, wide scope for improvement, increasing adoption of advanced technologies, and supportive government initiatives are expected to create several opportunities for manufactures in this field.

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The United States concentrating solar power market can be segmented on the basis of product type, application, and region. Based on product type, the market can be segmented into solar tower, linear Fresnel, parabolic trough, and engine system. By application, the United States concentrating solar power market can be divided into residential, commercial, and industrial.

Regional segmentation includes the West, Southwest, the Middle Atlantic, New England, the South, and the Midwest. Suitable weather conditions such as sufficient availability of sunlight to charge solar panels are likely to propel the market. In addition, favorable government initiatives like installation cost subsidies, tax credits and others can augment growth in these regions.

Some of the key players contributing to the United States concentrating solar power market are ACWA Power, Bright Source Energy, Abengoa Solar, Aalborg CSP, and Esolar In

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Phone: (415) 349-0054, Toll Free: 1-888-928-9744
Address:201 Spear Street 1100, Suite 3036
City: San Francisco
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LNG as a Bunker Fuel Industry To 2017 : Latest Market Research Report By Radiant Insights,Inc

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RadiantInsights.com added Most up-to-date research on “Global LNG as a Bunker Fuel Industry 2017 Market Research Report” to its huge collection of research reports.

The global LNG as a bunker fuel market is anticipated to grow at a significant CAGR during the forecast period (2017 to 2022). High demand for environment efficient and inexpensive fuel for marines is likely to expand the scope for new developments. Liquefied Natural Gas (LNG) is an environment-friendly and cost-effective fuel. Thus, it can be a potential fuel for marines in comparison to expensive traditional fuel oils.

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LNG contains lower carbon content as compared to conventional ship fuels. Use of LNG as a fuel is likely to reduce carbon dioxide emissions by 20% to 25 %. It is also less costly than Marine Gas Oil (MGO). Considering these benefits, most container liner companies are working towards LNG fueled ships to reduce harmful ship emissions. Growing number of LNG powered ships is likely to increase the demand for bunker fuel. To cater to the demand, most involved companies are planning their business strategies wisely.       

For instance, a multinational oil and gas company Shell, has signed an agreement with Carnival Corporation. According to the agreement, the former will provide LNG as a bunker fuel to the latter’s LNG fueled cruise ships. These ships are said to be the first of their kind in North America. The fuel supplier will facilitate these ships with fuel from its LNG bunker barge in the U.S. The fuel supplier is likely to implement the same strategy in Europe via chartered LNG bunkering vessel.

One of the major disadvantages of using LNG as a bunker fuel is space. Being a gas, LNG weighs more and requires more volume for its storage. That means, longer the journey for ships, larger will be the storage tank to provide sufficient fuel. So far, cargo space inside the ships is being used to build fuel tanks containing gas. Reduced cargo space is likely to impact ship operators in terms of revenue. To solve this problem, engineers and architects are working together to design advanced fuel tanks for LNG storage in ships. However, construction of such tanks inside the ships will require extra piping, insulation, and steel work, which may further increase the cost. This can influence the global market growth over the forecast period.

The LNG as a bunker fuel market can be segmented on the basis of product type, application, and region. Based on product type, the market can be bifurcated into inland waterway and oceans & lakes. Due to the effective properties possessed by LNG, it has managed to attract multiple end-users such as containerships, tankers, ferries, general cargo vessels, and other types of vessels.

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Geographically, the LNG as a bunker fuel market can be divided into Asia Pacific, Europe, and America. In the global arena, North America is extensively using LNG as a bunker fuel owing to a continuous drop in the prices of natural gas in the region. In addition, several countries from Asia Pacific like China and South Korea are also adopting LNG to fuel their marines. Increasing adoption of natural gas as a fuel is likely to propel the market in coming years. Moreover, a large number of LNG bunkering stations in Europe are expected to contribute well to the market during the forecast period.

Some of the prominent players operating in the LNG as a Bunker Fuel Market include Skangass AS, Korea Gas Corporation, Harvey Gulf International Marine LLC., GDF SUEZ S.A, and Gasnor AS.

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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

Media Contact
Company Name: Radiant Insights, Inc.
Contact Person: Michelle Thoras, Corporate Sales Specialist – USA
Email: Send Email
Phone: (415) 349-0054, Toll Free: 1-888-928-9744
Address:201 Spear Street 1100, Suite 3036
City: San Francisco
State: California
Country: United States
Website: www.radiantinsights.com/research/global-lng-as-a-bunker-fuel-industry-2017