Friday 17 November 2017

Engineering services outsourcing (ESO) market Projected to reach USD 1.49 trillion by 2025 : Grand View Research,Inc.

The Global engineering services outsourcing (ESO) market is expected to reach USD 1.49 trillion by 2025, according to a new report by Grand View Research, Inc. ESO providers play a crucial role in providing mechanical, technical, and software support to their clients. Due to the growing complexity of product designing, prototyping, visual designing and engineering, and Product Lifecycle Management (PLM), the role of ESO vendors has become crucial to OEMs.
The engineering services outsourcing business was primarily aggregated under the Information Technology (IT) or the Business Process Outsourcing (BPO) industry. However, due to rapid technological advancement and growing demand, the ESO segment has evolved to expand its operation in the telecom, aerospace, automotive, healthcare, and other major verticals by spending heavily on product development and offering engineering expertise across various industries.
Multinationals based in the U.S., UK, Germany, France, and Japan among other developed nations are outsourcing services to countries such as India which provide skillful resources at lower prices.
The threat of Intellectual Property (IP) confidentiality breach is a barrier to the growing ESO demand. Companies have to be very vigilant to avoid IP theft, especially in a few offshore locations where prosecuting firms who allegedly misuse patents and confidential data is perceived as a difficult task due to the prevalent legal enforcements. IP theft results in significant losses for the business. As a result, the companies may not wish to share confidential data with engineering service providers.
Further key findings from the report suggest:
·         Growing at a CAGR of around 30% over the forecast period, the offshore ESO segment is expected to account for a greater revenue share of the total market by 2025
·         In 2016, the estimated size of the onshore ESO segment was around USD 70 billion
·         The aerospace, consumer electronics, and telecom ESO segments are expected to witness a robust growth
·         The aerospace ESO segment is expected to account for over 13% of the total revenue share by 2025 and is projected to be the fastest-growing over the forecast period
·         Asia Pacific accounted for the largest market share of the global ESO industry in 2016; China, India, Vietnam, and the Philippines were the most sought after global outsourcing destinations
·         The key industry participants include EPAM Systems, Inc., GlobalLogic, Infosys Limited, HCL Technologies Limited, Luxoft, QuEST Global Services Pte. Ltd., Tech Mahindra Limited, Wipro Limited, and Tata Consultancy Services Limited
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/communication-services
Grand View Research has segmented the market for Engineering Services Outsourcing (ESO) by application, location, and region.
ESO Application Outlook (Revenue, USD Billion; 2014 - 2025)
·         Aerospace
·         Automotive
·         Construction
·         Consumer Electronics
·         Semiconductor
·         Pharmaceutical
·         Telecom
·         Others
ESO Location Outlook (Revenue, USD Billion; 2014 - 2025)
·         Onshore
·         Offshore
ESO Regional Outlook (Revenue, USD Billion; 2014 - 2025)
·         North America
o    U.S.
o    Canada
o    Mexico
·         Europe
o    UK
o    France
o    Germany
·         Asia Pacific
o    China
o    India
o    Japan
·         South America
o    Brazil
·         Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com


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Protective coatings market Projected to grow owing to the rising demand from key end-use industries till 2025 : Grand View Research, Inc.

The global protective coatings market is expected to witness significant growth over the forecast period owing to the increasing demand for anti-corrosion, thermal resistant, and durable coating formulations in the aerospace and oil & gas industries. The rising demand from key end-use segments such as oil & gas, aerospace, construction, and industrial owing to its superior properties over its counterparts is expected to propel the industry demand over the forecast period. The growing application scope of protective coatings in the aforementioned segments can be attributed to the growing need for low-VOC coating solutions, which offer resistance to wear & tear, high temperatures, and corrosion, while ensuring low maintenance costs.
Construction dominated the industry, globally, in 2015. The growing infrastructure development in emerging countries such as India, China, Brazil, and Russia is expected to drive demand for the product in the construction end-use industry over the projected period.
Further key findings from the report suggest
·         Globally, epoxy and alkyd product segments are slated to witness significant growth in terms of volume during the forecast period, growing at a CAGR of over 10% during the forecast period. This is mainly attributed to low VOC content, efficiency, and favorable government policies, along with the rising demand from key end-use verticals such as construction and aerospace.
·         Asia Pacific dominated the market for protective coatings in 2015, with revenue of over USD 18 billion; and is estimated to grow significantly over the coming years owing to the rising demand from high-growth end-use segments such as construction, aerospace, and automotive.
·         Furthermore, the Asia Pacific region is expected to grow the highest in terms of revenue during the forecast period, slated to grow at a CAGR of over 9%. The region is dominated primarily by China, which is likely to witness growth at a CAGR of nearly 10% during the forecast period. However, rapid infrastructure expansion in India and Indonesia is likely to drive growth over the forecast period.
·         Key participants in the industry include AkzoNobel NV, PPG Industries, The Sherwin-Williams Co., and Arkema SA, among others. In recent years, key players have turned towards capacity expansion and new product developments to strengthen their positions in the industry globally.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the global protective coatings market on the basis of resin type, product, end-use, and region:
Resin Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
·         Acrylic
·         Epoxy
·         Polyurethane
·         Alkyd
·         Polyester
·         Others
Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
·         Solvent-borne
·         Water-borne
·         Powder-based
·         Others
End Use Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
·         Construction
·         Oil & Gas
·         Aerospace
·         Industrial
·         Marine
·         Automotive
·         Power Generation
·         Mining
·         Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·         North America
o    U.S.
·         Europe
o    Russia
o    Germany
·         Asia Pacific
o    China
o    India
o    Japan
·         Central & South America
o    Brazil
·         Middle East & Africa
o    Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: http://www.grandviewresearch.com
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Hexane market expected to reach USD 2.36 billion by 2024 : Grand View Research , Inc.

The global hexane market is expected to reach USD 2.36 billion by 2024, according to a new report by Grand View Research, Inc. The growth of oil extraction industry is expected to remain a key factor driving the global hexane market over the forecast period.
Growing use of hexane across key end-use industries such as rubber and petrochemical is anticipated to boost the global market over the next eight years. It is extensively used as a special purpose solvent and as an oil extractant in industries such as printing, textiles, and leather.
Extraction emerged as the dominant grade owing to its wider applicability and demand from growing edible oil industry. The grade accounted for over 55% of the overall consumption in 2015. Edible oil demand has been witnessing significant growth for the past few years owing to increasing consumption of fried food.
Factors such as rising purchasing power of consumers along with evolving dietary habits have led to a shift in consumer preference towards consuming healthy edible oils. This is expected to drive the growth of the global edible oils market during the forecast period making edible oil extractant the dominant hexane application.
Browse full report by Grand View Research : http://www.grandviewresearch.com/industry-analysis/hexane-market
Further key findings from the report suggest:
·         Polymerization grade is expected to witness growth owing to the superior chemical and physical properties required in key end-use industries such as waste water treatment
·         Edible oil treatment and industrial solvents were the major applications of hexane and these segments collectively accounted for over 70% of the overall volume in 2015.
·         Adhesive formulation application is expected to be among the fastest growing segment owing to the increasing opportunities for the market to expand as manufacturers seek enhanced performance requirements for bonding application
·         Asia Pacific is expected to be the fastest growing market for over the forecast period. Rapid industrialization and urbanization, particularly in China, India, and South East Asian countries are expected to drive the regional growth
·         Safer and cleaner substitutes are being made available commercially for particular applications. For instance, water based cleaners are expected to replace hexane and other related solvents in the auto repair industry and other industries where precision cleaning is of utmost importance
·         Industry competition is characterized by production capacities of the companies. Forward integration along the value chain provides companies with opportunities to increase their reach to customers
·         Key players operational in the global hexane industry include Mil-Spec Industries Corp., Environmental Equipment & Supply, GFS Chemicals, Inc. and Continental Chemical, City Chemical LLC.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the hexane market on the basis grade, application and region:
Global Hexane Grade Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·         Polymerization
·         Extraction
·         Others
Global Hexane Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·         Edible Oil Extractant
·         Industrial Solvent
·         Adhesive Formulation
·         Leather Treatment
·         Others
Global Hexane Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·         North America
o    U.S.
·         Europe
o    Germany
o    UK
·         Asia Pacific
o    China
o    India
o    Japan
·         Central & South America
o    Brazil
·         Middle East & Africa
o    Saudi Arabia
o    UAE
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-hexane-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com


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Artificial Lift Systems Market expected to reach USD 26.5 billion by 2025 : Grand View Research, Inc.

The global artificial lift market is expected to reach USD 26.5 billion by 2025, according to a new report by Grand View Research, Inc. The industry is anticipated to gain traction owing to the increasing fossil fuel demand coupled with the rising number of mature reserves, which hold a high volume of crude oil. Furthermore, volatile oil prices are persuading oil companies to decrease the per barrel oil production cost, thereby driving the demand for EOR techniques, such as artificial lift systems, over the forecast period.
The robust demand for crude oil and natural gas has led to the depletion of onshore reserves. This has offered offshore deep-water opportunities for several companies, thus catapulting the artificial lift market size. Additionally, technological advancements have encouraged Exploration and Production (E&P) companies to increase the production of crude oil and natural gas in offshore reserves, which is anticipated to further propel demand over the coming years.
Lifting systems are used in offshore applications of deepwater gas lift wells and for subsea production to augment the productivity of wells. Thus, the rising deepwater oil production is anticipated to spur the market growth. Owing to rapid industrialization, conventional sources of oil & gas are depleting at the expense of future energy demands. This has forced companies to meet the end-user demand by focusing on unconventional gas resources. As such, unconventional gas production is considered to act as a key opportunity for players operating in the market.
The demand for energy is increasing globally. The escalating demand for primary energy in transportation, power generation, and household activities has led to increased oil & gas consumption in major economies across the globe. This has led the producers of oil & gas to dig deeper to meet the increasing energy demands, thus instigating the need for artificial lift. However, the fluctuating oil prices and impacted investments would affect market growth, owing to high equipment and capital costs. 
Further key findings from the report suggest:
·         The global artificial lift market exceeded USD 16 million in 2016 and is expected to grow at a CAGR of 5.7% from 2017 to 2025, which is primarily attributed to the increasing oil & gas production coupled with improving production efficiencies at mature fields.
·         Electrical submersible pumps are anticipated to emerge as the largest product segment over the forecast period owing to the rising demand for oil worldwide and exploration of newer onshore as well as offshore reserves.
·         The ever-rising population in Asia Pacific, particularly India and China, is anticipated to fuel the demand for oil & gas, which is further expected to instigate the adoption of artificial lift systems in this region.
·         Key players such as GE Oil & Gas, National Oilwell Varco, Weatherford Plc, Halliburton, Dover Corp., and Schlumberger Limited dominated the market in 2016 with their emphasis on expanding the market presence through mergers and acquisitions.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/conventional-energy
Grand View Research has segmented the global artificial lift market based on products and regions:
Artificial Lift Product Outlook (Revenue, USD Million; 2014 - 2025)
·         Rod Lifts
·         Electrical Submersible Pumps
·         Progressive Cavity Pumps
·         Gas Lift
·         Hydraulic Pumps
·         Others
Artificial Lift Regional Outlook (Revenue, USD Million; 2014 - 2025)
·         North America
o    U.S.
o    Canada
·         Europe
o    UK
o    Germany
o    Russia
o    Norway
·         Asia Pacific
o    China
o    India
o    Japan
o    Indonesia
o    Malaysia
·         Latin America
o    Brazil
o    Mexico
·         Middle East & Africa
o    Saudi Arabia
o    UAE
o    Kuwait
o    Iran
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: http://www.grandviewresearch.com
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