Growing awareness regarding the usage of renewables along with rising usage of the wind as a possible form of energy is driving the demand for turbines, which in turn, is expected to stimulate wind turbine casting market over the upcoming years. These turbines have various components out of which the primary casted parts include the rotor hubs, axle pins, and main carriers.
The demand for floating solar power plants is expected to witness significant growth owing to the rapid depletion of fossil fuel reserves which is used for electricity generation and other applications. According to BP, the fossil fuel reserves were over 1,000,000 tons in 1994 which went down to around 890,000 in 2014.
Lead acid batteries are used in various applications including automobiles, uninterrupted power supply systems, telecommunication, electric bikes, transport vehicles, and marine. Growing demand for these applications in emerging countries including China, Mexico, India, Japan, South Korea, Brazil, and South Africa on account of rapid economic growth and increasing population is anticipated to stimulate industry growth.
Activated carbon, also known as activated charcoal, is a porous form of carbon which is made by processing with oxygen. Activated carbon is in a non graphite carbon form which is produced from any carbonaceous material such as coconut shell, paddy husk, wood, lignite, coir pith, coal, etc. It is used in refining and bleaching of chemical solutions and vegetable oils, recovery of solvents and other vapors, water purification, recovery of gold, in filters to protect against gases and in gas masks. Activated carbon is manufactured using chemical activation and steam activation which is a two-step process. The first step includes carbonizing raw material such as coal, peat, coconut shell or any other material; the second step involves activating with the help of oxygen or chemical treatment to develop pores. Products manufactured from lignite, bituminous and anthracite, sub-bituminous, coconut shell charcoal and wood are the key activated carbon products that are used globally. Carbons manufactured from coal or coconut shells are used in water filters. Prices of coal differ from country to country; the U.S. and China are deemed most important.
Natural gas is one of the most rapidly growing forms of energy and has made its presence felt significantly in the global energy basket. It has been rapidly catching up with crude oil as a fuel alternative because of its cleaner existence. Natural gas has been able to successfully penetrate the transportation and domestic application markets, thus helping it evolve as the primary global fuel. However, there has been an increased emphasis on the usage of unconventional gas sources such as shale gas, tight gas and CBM owing to the depletion of conventional natural gas reserves. Drilling cost is the major contributor to the overall production cost of CBM. Electricity cost, machine maintenance cost and operational costs also contribute to the total cost of production. The leading application area of CBM is power generation.
Fuel cells are devices which convert the fuel’s chemical energy into electricity via a chemical reaction in the presence of an oxidizing agent. Fuel cells use hydrogen or other hydrocarbon fuels which are available in abundance. This makes them one of the fastest growing alternate backup power options as the reserves of fossil fuels used during conventional electricity generation methods have been depleting. Additionally, they are eco friendly as their by-product only comprises nitrous oxide. They generate lower noise levels as compared to other incumbent technologies due to lack of moving parts and an efficient combustion process. They have a broad range of operation times and can be integrated into a variety of devices such as refrigerators. Portable fuel cell applications include consumer products such as laptops and mobile phones, personal electronics, Accelerated Processing Units, portable products and consumer products such as laptops and mobile phones. Stationary fuel cell applications include Uninterrupted Power Supply (UPS), residential power and Combined Heat Power (CHP). Transportation applications include auxiliary power units and fuel cell electric vehicles.
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