MRFR news

  The  ASEAN energy transition market  is rapidly expanding as Southeast Asian nations intensify efforts to shift from fossil fuel dependence to clean and sustainable energy systems. This transition, essential to achieving regional net-zero targets, is being driven by a combination of environmental policies, rising energy demand, and increasing investments in renewable technologies such as solar, wind, hydropower, and green hydrogen. Countries like Indonesia, Vietnam, the Philippines, and Thailand are leading the charge, supported by both public-sector commitments and private capital inflows into energy transformation. Market Dynamics: Renewable Expansion and Grid Modernization Fuel Momentum At the heart of ASEAN’s energy transition is the rapid expansion of renewable capacity. Governments are rolling out ambitious renewable energy targets to address climate change while also ensuring energy security and affordability for growing populations. Vietnam, for example, has...

  The  phosphoric acid fuel cell market  is gaining momentum across global energy and manufacturing sectors, driven by increasing demand for low-emission, high-efficiency power solutions. As industrial players transition toward sustainable energy systems, phosphoric acid fuel cells (PAFCs) are emerging as reliable, scalable options that offer stable operation and high thermal efficiency, particularly in combined heat and power (CHP) applications. Their ability to run on various fuels, including hydrogen and natural gas, positions them as flexible solutions in today’s hybrid energy environment. Market Dynamics: Decarbonization Goals and Energy Resilience Fuel Growth A key driver of the phosphoric acid fuel cell market is the mounting global pressure to decarbonize industrial operations. Industries with high thermal energy demand—such as chemicals, food processing, and wastewater treatment—are under increasing scrutiny to reduce carbon emissions. PAFCs, with electrical ...

  The  Europe low carbon hydrogen market  is experiencing rapid momentum as the continent accelerates its shift to sustainable energy systems. Hydrogen, particularly low carbon and green variants, is positioned at the center of Europe's decarbonization strategy. Backed by ambitious net-zero targets, government incentives, and growing industrial adoption, the region is witnessing a transformative push toward cleaner fuel solutions. This rising demand is shaping a robust market outlook for low carbon hydrogen technologies across the energy, industrial, and mobility sectors. Market Dynamics Key Trends One of the most prominent trends in the European low carbon hydrogen market is the integration of hydrogen into national energy strategies and climate action plans. Countries like Germany, France, the Netherlands, and Spain have unveiled multi-billion-euro hydrogen roadmaps, targeting wide-scale production and usage by 2030. These plans emphasize the adoption of green hyd...

  The  field erected cooling tower market  is witnessing significant expansion due to growing demand from thermal power plants, oil refineries, and heavy industrial operations. As global energy consumption continues to climb, industries are turning to large-scale, high-capacity cooling systems to ensure efficient thermal regulation and compliance with environmental standards. Field erected cooling towers, known for their scalability and suitability for high-load operations, have become essential in supporting large infrastructure and energy projects across the globe. Market Dynamics Key Trends A primary trend driving the market is the global shift toward enhancing industrial productivity while ensuring energy efficiency. Field erected cooling towers are increasingly being deployed in sectors such as power generation, petrochemicals, and steel manufacturing where high volumes of waste heat must be dissipated effectively. These systems are customizable, long-lasting, ...

  The global  geothermal heat pumps market  is experiencing significant growth, driven by rising demand for energy-efficient HVAC systems, increasing environmental awareness, and a growing emphasis on reducing carbon emissions in residential, commercial, and industrial applications. According to  Market Research Future , governments, businesses, and households are turning to geothermal systems as a reliable and sustainable solution for heating and cooling needs, contributing to a promising market trajectory. Market Dynamics Geothermal heat pumps (GHPs), also known as ground source heat pumps, utilize the constant temperature of the earth to provide efficient heating and cooling. One of the most compelling factors driving market growth is the need to reduce building energy consumption, which accounts for a large share of global energy use. GHPs offer up to 50% greater efficiency than traditional HVAC systems, making them an attractive option for those seeking long...

  The  biodiesel market  is gaining significant traction globally, backed by growing concerns over environmental degradation, the rising demand for alternative fuels, and favorable government policies promoting the shift toward renewable energy. According to  Market Research Future , biodiesel is being widely adopted as a sustainable alternative to traditional fossil fuels across the transportation, power generation, agriculture, and industrial sectors. The market's robust growth trajectory is supported by technological advancements in feedstock processing, greater availability of raw materials, and stronger regulatory frameworks that encourage clean fuel usage. Market Dynamics The global biodiesel market is primarily driven by the increasing awareness of climate change and the need to transition to environmentally responsible energy sources. Biodiesel, produced from renewable feedstocks such as vegetable oils, animal fats, and waste cooking oils, emits significa...

 The bifacial solar market is witnessing robust growth as solar energy becomes central to global decarbonization goals. With increasing emphasis on energy efficiency, land optimization, and cost-effective renewable generation, bifacial solar panels—capable of capturing sunlight from both sides—are quickly becoming the preferred technology across utility-scale, commercial, and industrial installations. Advancements in photovoltaic technology, government incentives, and reduced levelized cost of electricity (LCOE) are further accelerating adoption in key markets worldwide. Market Dynamics Dual-Sided Efficiency Driving Performance Gains Bifacial solar panels stand out by generating power not only from direct sunlight on the front but also from reflected light on the rear surface. This dual-sided functionality can boost energy output by 10–30% depending on ground surface conditions and installation design. As project developers seek to maximize energy yield per square meter, bif...

 The grid-scale battery market is undergoing a period of dynamic growth, fueled by rising renewable energy deployment, grid modernization efforts, and increasing demand for resilient and flexible power infrastructure. As countries around the world accelerate their shift to sustainable energy systems, grid-scale batteries are playing a critical role in balancing intermittent supply and stabilizing electric grids. With substantial investment from public and private sectors, the global market is positioning itself as a foundational pillar of the clean energy ecosystem. Market Dynamics Renewable Energy Integration Driving Storage Demand The intermittent nature of renewable energy sources such as wind and solar requires reliable storage solutions to manage supply fluctuations. Grid-scale battery systems offer the flexibility and response speed needed to store excess energy when generation is high and release it during periods of low production or peak demand. This capability is v...

 The global  wind turbine services market  is entering a new era of accelerated growth, driven by the rapid expansion of wind energy capacity, increasing focus on operational efficiency, and the aging of existing turbine fleets. As countries and corporations commit to ambitious net-zero targets, the need for timely maintenance, upgrades, and monitoring of wind turbines has become essential to ensure optimal performance and energy output. Market Dynamics Wind power has emerged as one of the fastest-growing sources of renewable energy worldwide. With governments and private sectors heavily investing in both onshore and offshore wind projects, the demand for comprehensive wind turbine services—including operation, maintenance, inspection, and performance optimization—is increasing exponentially. These services are crucial for maximizing asset longevity, minimizing downtime, and ensuring continuous power generation from installed turbines. One of the major trends reshap...

The global  hydraulic component market  is gaining considerable traction amid the rising demand for high-performance fluid power systems across industries. As automation, construction, agriculture, and energy sectors expand, the reliance on hydraulic systems for lifting, pressing, steering, and motion control applications is becoming more critical. This has positioned hydraulic components such as pumps, motors, valves, and cylinders at the core of modern industrial operations. Market Dynamics Hydraulic systems are fundamental to the functioning of heavy-duty machinery, offering unmatched power density, durability, and performance in harsh operating conditions. The market is witnessing an upswing, fueled by growing investments in infrastructure development, manufacturing automation, and smart agriculture. Emerging economies across Asia-Pacific and Latin America are significantly contributing to this surge by accelerating construction activities and industrial modernization....

  The  APAC solid oxide fuel cell market  is experiencing significant growth, driven by a surge in demand for clean energy alternatives and tightening carbon emission norms. Solid oxide fuel cells (SOFCs), known for their high efficiency, low emissions, and fuel flexibility, are increasingly being adopted in stationary power generation, distributed energy systems, and auxiliary power units across Asia-Pacific. The region’s focus on decarbonization, energy security, and industrial innovation is propelling the SOFC sector forward, making it a critical piece in APAC’s energy transition strategy. Market Dynamics 1. Growing Demand for Clean and Efficient Energy With rapid industrialization and urbanization, countries in the Asia-Pacific region are facing rising energy demands coupled with environmental challenges. SOFCs offer a viable solution due to their high conversion efficiency (typically above 60%) and compatibility with hydrogen, natural gas, and biogas...