Global Single-Family Smart Homes Market

The oil and gas pumps market consists of sales of oil and gas pumps and related services by entities (organizations, sole traders, and partnerships) that manufacture oil and gas pumps. Oil and gas pumps are used in the oil & gas industry to transfer oil, grease, gas, and other fluids. The main types of oil and gas pumps are centrifugal, positive displacement and cryogenic. A centrifugal pump converts driver energy to kinetic energy in a liquid by accelerating the fluid to the outer rim of an impeller. The pumps have a capacity of upto 500 gpm (small), 500-1000 gpm (medium) and more than 1000 gpm (high) and are used in upstream, midstream and downstream applications. The global oil and gas pumps market size is expected to grow from $11.23 billion in 2021 to $11.71 billion in 2022 at a compound annual growth rate (CAGR) of 4.3%. The oil and gas pump market is expected to grow to $13.87 billion in 2026 at a CAGR of 4.3%. The development of oil and gas pipeline infrastructure contributed to the growth of the oil and gas pumps market. Oil and gas pipelines are used for transporting crude oil or natural gas liquids. Pumps or compressors are used for moving the oil or gas through the pipeline at a safe speed. According to India Brand Equity Foundation, the government of India is planning to invest $9.9 billion in expanding the gas pipeline network across the country. According to Invest India, about 12,672 km of gas pipelines are under development. Therefore, the development of oil and gas pipeline infrastructure is expected to drive the market for oil and gas pumps during the forecast period. Internet of Things (IoT) in oil and gas refineries is an emerging trend in the oil and gas pumps market. IoT is used to monitor pipe thickness, flow rate, pipe pressure, and more. IoT enables to have connected machines in oil and gas industry so that oil and gas companies can predict equipment failure and reduce overall downtime. For example, a single pump failure can cost hundreds of thousands of dollars in lost productivity, so if the condition of pumps is known in real time, replacements can be ready for those deemed susceptible to failure. Therefore, IoT plays an important role in the oil and gas pumps market. In February 2021, Caterpillar, a USA company that designs, manufacture, and sells machinery, acquired Weir oil & gas subsidiary of Weir group for a deal amount of $405 million. The acquisition of Weir oil & gas will help Caterpillar to build its oil and gas pumps business line and the organization will be running the operation as SPM oil & gas business. The transaction includes more than 40 global service centers and around 2000 employees. Major players in the oil and gas pumps market are KSB SE, Flowserve, Sulzer, Xylem, Gardner Denver, Alfa Laval, SPP Pumps, ITT Oil & Gas, Kirloskar Brother Limited, and HMS Group. Asia Pacific was the largest region in the oil and gas pumps market in 2021. This region is also expected to be the fastest growing region in the forecast period. The regions covered in the oil and gas pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil and gas pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global oil and gas pumps market is segmented - 1) By Type: Centrifugal, Positive Displacement, Cryogenic 2) By Capacity: Small (up to 500 gpm), Medium (500-1000 gpm), High (more than 1000 gpm) 3) By Application: Upstream, Midstream, Downstream

Power Transmission, Control, And Distribution Market Characteristics

The engine, turbine, and power transmission equipment market consists of sales of engine, turbine, and power transmission equipment by entities (organizations, sole traders, or partnerships) that produce turbines, power transmission equipment, and internal combustion engines (except automotive gasoline and aircraft). The main types of engine, turbine and power transmission equipment are commercial internal combustion engines, turbine and turbine generator set units, mechanical power transmission equipment, speed changer, industrial high-speed drive, and gear. Internal combustion engines refer to the internal combustion engines that generate motive power and produce hot gas to drive a piston. The various capacity includes small, medium, and large. The various end-users involved are automotive, manufacturing, industrial, and other end-users. The global engine, turbine, and power transmission equipment market size is expected to grow from $513.1 billion in 2021 to $571.66 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The global engine, turbine, power transmission equipment market size is then expected to grow to $847.08 billion in 2026 at a CAGR of 10.3%. The engine, turbine, and power transmission equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the engine, turbine, and power transmission equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the engine, turbine, and power transmission equipment manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Gas turbine and power generation equipment manufacturers are adopting modular turbine designs to reduce onsite works and offer short installation times. The modular turbine design is prefabricated electricity-generating equipment in a factory, packaged to reduce the timeline to construct a power plant. They are reliable and low-cost equipment to reduce construction, design, installation, and delivery times. These modular designs can be prefabricated and delivered not only in gas turbines, but also in other components of power plants such as engine modules, fuel delivery systems, emissions control equipment, heat recovery steam generator (HRSG) modules, generators, pipe racks, and other auxiliary systems. Major companies providing modular turbine designs are VESTAS, ENERCON, and GE. In 2019, Vestas introduced EnVentus, a modular wind-turbine platform based on an advanced modular design. Major companies in the engine, turbine, and power transmission equipment market include Caterpillar Inc, Vestas Wind Systems A/S, Mitsubishi Heavy Industries Ltd, Siemens AG, Goldwind, Doosan Heavy Industries & Construction Co. Ltd, SKF Group, Baker Hughes Co, Cummins Inc, and Nordex SE. Asia Pacific was the largest region in the engine, turbine, and power transmission equipment market in 2021. Western Europe was the second largest region in the global engine, turbine, and power transmission market. The regions covered in the global engine, turbine, and power transmission equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in engine, turbine, and power transmission equipment market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global engine, turbine, and power transmission equipment market is segmented - 1) By Type: Commercial Internal Combustion Engines, Turbine and Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, and Gear 2) By Capacity: Small, Medium, Large 3) By End-User: Automotive, Manufacturing, Industrial, Others Subsegments Covered: Diesel Powered Internal Combustion Engines, Gasoline Powered Internal Combustion Engines, Natural Gas Powered Internal Combustion Engines, Other Powered Internal Combustion Engines, Steam and Gas Turbine, Wind Turbine, Hydro Turbine, Plain Bearings, Joints, Clutches, Couplings, Pulleys, Chains and Sprockets, Other Mechanical Power Transmission Equipment

The distribution board market consists of sales of distribution boards by entities (organizations, sole traders, and partnerships) that manufacture low voltage and medium voltage distribution boards. A distribution board (also known as a panel board, breaker panel, or electric panel) is a part of an electric distribution network that splits an electrical power flow into separate channels while supplying every circuit with a protective fuse or circuit breaker in a single frame. The main voltage types in distribution boards are low voltage and medium voltage. The low voltage distribution board is a component of the electrical power distribution network that transports electricity from the distribution transformer to the consumer's energy meter. The different types of mounting include flush mounting, surface mounting and are implemented in various sectors such as transmission and distribution utilities, manufacturing and process industries, commercial and residential infrastructure, other end users. The global distribution board market size is expected to grow from $5.19 billion in 2021 to $6.03 billion in 2022 at a compound annual growth rate (CAGR) of 16.3%. The change in the distribution board market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The distribution board market is expected to reach $8.72 billion in 2026 at a CAGR of 9.7%. The increasing electricity demand is expected to fuel the growth of the distribution board market in the coming years. Electricity is a form of energy that can be transmitted through wires and is used for heating, lighting, and machine power. As a result of increased household incomes, electrification of transportation and heat, and increasing demand for digitally connected devices and air conditioning, electricity demand is expected to rise even further. The electrical power is supplied within the building through a distribution board (DB). The primary supply cable enters the board and is dispersed to the breakers, which subsequently distribute it to all of the circuits. According to the World Energy Outlook, global electricity demand is expected to increase at 2.1% per year until 2040, double the rate of primary energy growth. Smart panel board is a key trend shaping the distribution board market. Smart panel boards detect and communicate switchgear health statistics and energy usage and share the data over several network protocols. Smart panel boards can save operating costs, improve safety, and anticipate future incidents. For instance, in October 2020, SMART Panelboards created with new concept enclosure design, which has been tested and is constructed following the regulations. In March 2021, Siemens, a Germany-based industrial manufacturing company acquired C&S Electric for $284.03 million (INR 21 billion). With this acquisition, Siemens seeks to get access to the Indian market and establish an export hub for delivering low-voltage goods to worldwide markets. Siemens also believes that the acquisition will pave the way for the establishment of a design and manufacturing center in India, allowing the business to export electrification solutions to emerging markets across the world. C&S Electric is an India-based manufacturer of electrical and electronic equipment including switchgear, power protection, and distribution board. Major players in the distribution board market are Schneider Electric, ABB Ltd., General Electric, Industrial Electric Mfg, Legrand, Siemens, ESL Power Systems, East Coast Power Systems, Hager Group, and Larsen & Toubro. Asia Pacific was the largest region in the distribution board market in 2021. The regions covered in the distribution board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the distribution board market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global distribution board market is segmented - 1) By Voltage: Low Voltage, Medium Voltage 2) By Mounting: Flush Mounting, Surface Mounting 3) By End-User: Transmission and Distribution Utilities, Manufacturing and Process Industries, Commercial and Residential Infrastructure, Others

The oil and gas supporting activities market consists of sales of support activities for oil and gas operations by entities (organizations, sole traders or partnerships) that provide support activities on a contract or fee basis for oil and gas operations such as exploration, drilling and extraction. The main types of oil and gas supporting activities are well maintenance, exploration and well developing. Exploration companies drilled a deep test hole, exploratory well both onshore and offshore to locate proven reserves of recoverable gas and oil. The various drilling types include offshore and onshore that are used by crude petroleum comprises and natural gas extraction comprises. The global oil and gas supporting activities market size is expected to grow from $236.99 billion in 2021 to $257.56 billion in 2022 at a compound annual growth rate (CAGR) of 8.7%. The growth in the oil and gas supporting activities market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The oil and gas supporting activities market is expected to reach $347.51 billion in 2026 at a CAGR of 7.8%. The oil oil and gas supporting activities market was mainly driven by rapid growth in emerging markets in the historic period. Emerging markets growth was aided by rising disposable income, stable political environment and increasing foreign investments in these countries. For instance, China’s GDP grew by 2.3% in 2020 to $14.72 trillion. Additionally, according to the World Economic Outlook Reports by the IMF, global GDP growth was around 2.9% in 2019, 3.3% and 3.4% in 2020 and 2021 respectively. Thus, strong economic growth boosted the demand for oil and gas, and this drove the oil and gas supporting activities market during the historic period. Growing popularity of renewable energy sources was a major restraint on the oil and gas supporting activities market during the historic period. The removal of fuel subsidies by governments and the drop in renewable energy technology and infrastructure costs meant the cost of power generated through solar and wind energy became comparable to the cost of power generated through fossil fuels. Certainty in capital costs and absence of material costs is favorable to renewable energy projects when compared to petrochemical based projects where project ROI (Return on Investment) is dependent on raw material costs, thus affecting the growth of the market. Companies providing support activities for oil and gas operations are using rig-less technology to reduce turnaround time for decommissioning of wells. Rig-less P&A refers to decommissioning of oil wells wherein companies need not replace tubes and drill pipes while placing primary or secondary barriers, thus offering significant cost savings over rig-based operations. Also, the equipment used for rig-less P&A can also be operated at a water depth of 1600 feet. For instance, some of the major companies using rig-less technology include Baker Hughes, Halliburton, Oceaneering International, Schlumberger and Weatherford. Major companies in the oil and gas supporting activities market include Schlumberger Ltd., TechnipFMC plc, Saipem, Halliburton, Weatherford International plc, Petrofac, Aibel, Calfrac Well Services Ltd., Patterson-UTI Energy, Inc., and Trican Well Service Ltd. North America was the largest region in the oil and gas supporting activities market in 2021. The Middle East was the second largest in the oil and gas supporting activities market. The regions covered in the oil and gas supporting activities market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil and gas supporting activities market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The global oil and gas supporting activities market is segmented - 1) By Type: Well Maintenance, Exploration, Well Developing 2) By Drilling Type: Offshore, Onshore 3) By End-User: Crude Petroleum Comprises, Natural Gas Extraction Comprises

The oil and gas wells drilling services market consists of sales of oil and gas wells drilling services by entities (organizations, sole traders or partnerships) that undertake oil and gas wells drilling services for others on a contract or fee basis. The oil and gas wells drilling services industry includes contractors specializing in spudding in, drilling in, redrilling, and directional drilling. This market covers outsourced drilling services sold on a contract basis to oil and gas extraction companies and does not include any in-house drilling services of oil and gas extraction companies. The main types of oil and gas wells drilling services are onshore drilling services and offshore drilling services. Onshore drilling entails driving a drilling rig deep into the earth to reach fossil fuels. Onshore drilling services include the construction of oil and gas wells for production, exploration, and appraisal, as well as other types of wells such as vertical, deviated, and horizontal wells. The various services offered include directional drilling, non-directional drilling and the machine parts used are rigs, pipes, bits, reamers and others. The global oil and gas wells drilling services market size is expected to grow from $112.66 billion in 2021 to $121.03 billion in 2022 at a compound annual growth rate (CAGR) of 7.4%. The growth in the oil and gas wells drilling services market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The oil and gas wells drilling services market is expected to reach $154.62 billion in 2026 at a CAGR of 6.3%. The rapid pace of innovation in the oil and gas exploration and drilling technologies is boosting production volumes and reducing production costs. Technological advances are allowing oil and gas wells drilling companies to enhance oil and gas recovery rates and considerably reduce production costs. For instance, 3D seismic technology is being used to optimize exploration and drilling processes to enhance oil and gas production levels and cut down costs associated with exploration and drilling. Other areas of rapid technological advances in the oil and gas market include hydraulic fracturing and horizontal drilling. Thus, advancements and innovation in exploration and drilling technologies are expected to drive the oil and gas wells drilling services market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the oil and gas wells drilling services market in 2020 as fears over COVID-19 resulted in lower oil prices, exasperated by a price war when the members of the OPEC cartel were unable to agree on production cuts in February 2020, resulting in a decline in the dollar price of WTI Crude per barrel falling from around $50 to around $25. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the oil and gas wells drilling services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. In addition, current oil prices are uneconomic for many operators and are likely to result in lower supply in the medium term, as operators cut activity or cease trading, resulting in an upturn in prices. Oil and gas wells drilling companies are adopting 3D visualization systems to reduce project cycle times and increase drilling accuracy. 3D visualization system generates a 3D model of a wellbore and real-time drilling data to monitor and optimize drilling process. This system facilitates automatic diagnosis of drilling problems and improves and streamlines collaboration by allowing geoscientists and drilling engineers to virtually locate, see, and test drilling sites, resulting in significant cost savings of up to 20% and reduction in non-productive drilling time by 20%. These systems are integrated with asset teams by means of software, thus facilitating precise and accurate placement of drill sites. For instance, some of the major companies offering 3D visualization technology companies include eDrilling, Hexagon, Mechdyne, Landmark. Major companies in the oil and gas wells drilling services market include Baker Hughes Co, Schlumberger Ltd., Halliburton, China Oilfield Services Ltd., Transocean Ltd., Helmerich & Payne, Inc., Weatherford International plc, Nabors Industries Ltd., Valaris PLC, and Saipem. North America was the largest region in the oil and gas wells drilling services market in 2021. The Middle East was the second largest region in the oil and gas wells drilling services market. The regions covered in the oil and gas wells drilling services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil and gas wells drilling services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The global oil and gas wells drilling services market is segmented - 1) By Type: Onshore Drilling Services, Offshore Drilling Services 2) By Service: Directional Drilling, Non-Directional Drilling 3) By Machine Parts: Rigs, Pipes, Bits, Reamers, Others

The industrial and commercial natural gas distribution market consists of sales of industrial and commercial natural gas distribution by entities (organizations, sole traders, and partnerships) that are used to operate gas distribution systems. Industrial and commercial natural gas refers to natural gas used for industrial and commercial purposes such as steam generation, metal casting, metal tempering, electricity generation, and as a fuel for commercial vehicles. The global industrial and commercial natural gas distribution market size is expected to grow from $608.17 billion in 2021 to $657.16 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The global industrial and commercial natural gas distribution market size is expected to grow to $756.34 billion in 2026 at a compound annual growth rate (CAGR) of 3.6%. The various sources include associated gas, non associated gas, and unconventional sources, which are used by various end users, including light duty vehicles, medium or heavy duty buses, medium or heavy duty trucks. The growth in the industrial and commercial natural gas distribution market is due to the higher disposable income and rising demand from commercial customers. The rising demand from commercial customers is expected to propel the growth of the industrial and commercial natural gas distribution market going forward. A commercial customer means a customer who performs or produces a service or product that is a source of revenue for the customer. Commercial customers use natural gas for household purposes like cooking and operating refrigeration and cooling equipment. For instance, according to the US electricity information administration, a US-based government agency, in the year 2021, commercial usage accounted for about 11% of total U.S. natural gas consumption, and natural gas sources for about 19%. Therefore, rising demand from commercial customers is driving the growth of the natural gas distribution market. The establishment of new city gas distribution plants is the key trend gaining popularity in the industrial and commercial natural gas distribution market. Major companies operating in the market are introducing gas distribution plants in every city to sustain their position in the market. For instance, in January 2022, Bharat Petroleum Corporation Ltd (BPCL), an India-based petrol and gas distribution company, launched city gas distribution networks in 6 cities throughout India, which helps in the easy supply of natural gas. Bharat Petroleum invested INR 10,000 in developing this project. Many countries are focusing on the adoption of decarbonization, which aims at the reduction of emissions of greenhouse gases. This adoption reduces the use of coal and encourages the use of natural gas for generating electricity. This has resulted in the rapid expansion of renewable energy and the evolution of the industrial and commercial markets in the upcoming years. Major players in the industrial and commercial natural gas distribution market include Gas Natural Sdg SA, Ultrapar Participacoes SA, Air Liquide SA, L`Air Liquide SA, and Korea Gas Corp (KOGAS). Asia-Pacific was the largest region in the industrial and commercial natural gas distribution market. The regions covered in the global industrial and commercial natural gas distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the industrial and commercial natural gas distribution market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global industrial and commercial natural gas distribution market is segmented - 1) By Type: Industrial Natural Gas Distribution, and Commercial Natural Gas Distribution 2) By Source: Associated Gas, Non Associated Gas, Unconventional Sources 3) By End User: Light Duty Vehicles, Medium or Heavy Duty Buses, Medium or Heavy Duty Trucks