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The global industrial filtration market is projected to reach USD 35.47 Billion by 2023, growing at a CAGR of 6.50%, from an estimated USD 25.89 Billion in 2018. This growth can be attributed to the growth in industrialization and urbanization, stringent regulations pertaining to emissions and treatment of industrial waste, and requirement of safe working environment in industrial facilities. To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the industrial filtration market. These players include Alfa Laval (Sweden), Ahlstrom-Munksjö (Finland), Donaldson (US), Eaton (Ireland), Freudenberg (Germany), Mann+Hummel (Germany), Pall Corporation (US), and Parker Hannifin (US). The leading players are trying to increase their regional presence in the developed economies and are adopting various strategies to increase their market shares.
The global power management system market was valued at USD 3.53 Billion in 2016 and is projected to reach USD 5.26 Billion by 2022, growing at a CAGR of 6.88%, during the forecast period. The increasing demand for energy efficiency in the manufacturing sector, increasing installation of renewables in the industry, and rising adoption of IoT and cloud-based platforms are driving the power management system market globally. To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the power management system market. These include ABB (Switzerland), Eaton (Ireland), Siemens (Germany), GE (US), ETAP (US), Wartsila (Finland), and Mitsubishi (Japan). The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
Power generation capacity in the UAE is growing at a higher pace than consumption – that not only ensures energy security of the country but will also make the UAE a net power exporter to the neighbouring countries once the GCC Power Grid becomes operational. Power generation capacity in the UAE has grown at a compounded rate of 12 per cent per annum during the last 5 years and current capacity stands at about 30,000MW while power consumption grew at a slightly lesser than 8 per cent per annum during the same period, according to a latest report by Kuwait Financial Centre (Markaz).
Dubai Electricity and Water Authority (DEWA) recently reported a 7 per cent increase in the capacity and efficiency of its electricity transmission networks to 6637 MW compared with 6206 MW for all year 2011. Currently 98 per cent of the UAE power plants are fired by natural gas and the remaining 2 per cent are run by liquid fuels. Contribution of natural gas as fuel in the power sector is just 49 per cent in Saudi Arabia and 29 per cent in Kuwait. Dubai saw steady GDP growth of 3.2% in 2017 and is expected to reach 3.5% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. Investments worth $163bn are planned over the next three decades to reorganise Dubai’s energy sources for its water and power needs. The aim is that by 2050 renewable energy will have replaced carbon fuel as the primary component in the emirate’s energy mix. The economy of Dubai may be considered an outlier for the region, for although its growth and prosperity has been fuelled by its proximity to oil, its own modest hydrocarbons endowment accounted for just 1.3% of GDP in 2016.
Large investments in alternate energy is expected to change the country’s energy landscape in the coming years. Abu Dhabi’s Economic Vision - 2030 aims at generating 7 per cent of its energy requirements from the renewable resources. Masdar, also called Abu Dhabi Future Energy Company, concentrates on carbon free power generation. Masdar Power is developing a 100MW Shams 1 Concentrated solar power (CSP) power plant in the western parts of Abu Dhabi. They are also working on a 30MW wind farm in addition to a plan to construct the world’s largest hydrogen power plant by 2015. Emirates Nuclear Energy Corporation (ENEC) envisage constructing the first nuclear power plant by 2017 and by 2020 UAE will have 4 nuclear power plants in total with a gross installed capacity of 5,600 MW with an estimated capital cost of around $20 billion. In January 2012, Dubai’s Supreme Council of Energy unveiled its 1000 MW solar park estimated to cost around $3.5 billion.
GCC states are set to invest $252 billion (Dh925.62 billion) over the next five years on projects for setting up new power production plants, distribution systems and supply grids, recent reports suggested.