Virtual Power Plant Enabling the Networking of Distributed Energy Resources
The virtual power plant can be defined as a cloud-based distributed plant that propels the heterogeneous distributed energy resources’ capacity for improving power generation, along with selling or trading power in the electricity market.
Surging Need for Energy Efficient Lighting Devices Driving Hospital Lighting System Market Growth
The lighting systems being used in hospitals are rapidly incorporating both artificial lights, such as lamps and light fixtures in corridors and lobbies and natural daylight, which is resulting in 45–70% light savings, which is, in turn, improving the energy efficiency of these lighting systems. Furthermore, LED lighting has several advantages over conventional lighting solutions, such as low power consumption, less maintenance requirements, design flexibility, safety, and long lifespan. Because of these benefits, these lighting systems are being increasingly used in healthcare settings, thereby driving the expansion of the hospital lighting system market.
Denim Market to Witness 5.8% CAGR
The global denim market is predicted to generate a revenue of $79.2 billion in 2023, increasing from $56.1 billion in 2017, progressing at a 5.8% CAGR during the forecast period (2018–2023), as per a research conducted by P&S Intelligence. The worldwide growth in the e-commerce industry and transformation of the Asian retail clothing industry are the major driving factors of the market. In terms of segment, the market is divided into premium, standard, and mass market.
Booming Air Traffic Driving Demand for Titanium Blisks for Aerospace Production
The number of people traveling by air increased massively from around 310.4 million in 1970 to 4.3 billion in 2019, as per the World Bank. This is credited to the rapid expansion of airlines in terms of their fleet size and the constant entry of new airlines around the world. With the sustained surge in the number of people and amount of freight being transported by air, aircraft fleets are growing rapidly.
Why will Demand for Pour Point Depressants Soar in Asia-Pacific in Coming Years?
The burgeoning requirement for pour point depressants (PPDs) in the automotive industry is one of the major factors driving their demand across the world. These polymers are used for producing lubricants, which are required in automobiles. Because of this reason, the soaring manufacturing of automobiles in several countries such as India, Indonesia, Brazil, and Thailand is propelling the requirement for PPDs. These materials are also being increasingly used in the oil and gas industry.
High Demand for Hydrogen Storage Led by Transportation Application
Hydrogen can be stored in a gaseous or liquid form. Hydrogen storage is a technology used for advancing fuel cell technologies. It possesses the highest energy per mass compared to any other fuel.
Why Are Indonesian Food and Beverage Firms Adopting Coding and Marking Systems?
The International Organization of Motor Vehicle Manufacturers (OICA) states that 139,886 commercial vehicles and 551,400 cars were manufactured in Indonesia in 2020. The automobile industry uses coding and marking systems for labeling metal, plastic, rubber, and other vehicle parts to provide quality assurance to customers. Additionally, effective labeling helps automakers track the components throughout the supply chain and keep a tab on counterfeiting. Thus, the surging automobile production, owing to the growing disposable income of people, will boost the adoption of such systems in the country.
Biopharmaceuticals Increasing Survival Rate of Cancer Patients
Biopharmaceutical products are pharmaceuticals that are derived from life forms, and they require a patent for exclusive manufacturing rights. These items are manufactured in a cleanroom ecosystem with set standards regarding airborne particles. These drugs can be nucleic acids, including deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and antisense oligonucleotides, and proteins, including antibodies. They are generally used for in vivo diagnostic and therapeutic purposes.
Why will Sales of Solar Encapsulation Materials Surge in Asia-Pacific in Future?
The surging use of photovoltaic (PV) modules, that convert solar energy into electrical energy via solar cells, is driving the demand for solar encapsulation materials. Moreover, with the rising popularity of solar energy, due to its eco-friendliness and economic viability, many countries are augmenting their PV module production capacities. This is, in turn, making solar material producers increase their production capacities. For example, as per the China Photovoltaic Industry Association (CPIA), the solar panel production capacity in China increased from 48 gigawatt (GW) in 2016 to 110 gigawatt (GW) by 2020.
How Is At-Home Drug of Abuse Testing Kit Sale Rocketing?
The United Nations Office on Drugs and Crime (UNODC) states that approximately 0.5 million lives were lost due to drug use in 2019, primarily on account of opioid consumption. The organization also forecasts that the number of individuals using drugs will surge by 11% by 2030. The UNODC further states that the total number of cocaine users and cannabis users around the world reached 20 million and 200 million, respectively, in 2019.
Increasing Usage of Electric Vehicles Fueling Demand for Electric Motors in Asia-Pacific
The governments of various APAC countries such as India and China are introducing sales targets for electric vehicles and offering financial incentives and subsidies on the purchase of these vehicles. For example, in 2017, the Chinese government started offering subsidies of more than $10,000 per vehicle. This pushed up the sales of electric vehicles in the country by more than 42% from 2016. Furthermore, Beijing implemented a policy in 2018 aimed at capping the number of car plates issued every month to almost 100,000. Electric vehicles were exempted from this policy and as a result, their sales grew massively in the city during that year.
Why is Demand for Protein-Rich Food Increasing Need for Animal Healthcare Products?
Milk and meat have now become important parts of everyday meals. The demand for these products has also been increasing because of the changing lifestyle in developing countries, surging population, and rising disposable income of people. In addition to this, due to rising health concerns, people are now opting for protein-rich food, including meat, eggs, and milk. This is why, the focus on raising the production of farm animals has grown considerably across the globe.