Drilling & Extraction Equipments

Offshore mooring systems market is anticipated to witness the fastest growth over the next eight years at a CAGR of 2.6% from 2016 to 2025

Posted on Updated on

The global offshore mooring systems market is expected to reach USD 1.32 billion by 2025, according to a new report by Grand View Research, Inc. Increasing oil and gas production and exploration from the offshore fields rather than the onshore and the rising development of shale drilling regions for sustainable growth in future is expected to drive the demand for offshore mooring market.

Innovation of new technologies for development of new systems in order to cater to the increasing complexity of offshore platforms along with maximum cost cutting is the major trend in the industry. The industry players are focusing on developing driverless latching systems in order to increase safety level during operations.

Spread systems were the largest product type while accounting for over 32% market revenue in 2016. These systems are majorly utilized in a wide range of applications such as mobile offshore drilling units (MODU) to the ships with catenary type being the major product category.

Single buoy moors consist of a loading/floating substance anchored offshore, which serves as an anchorage point and an interconnection for tankers stocking or offloading oil or gas or any other liquid products. The segment is anticipated to witness the fastest growth over the next eight years at a CAGR of 2.6% from 2016 to 2025.

Further key findings from the report suggest:

  • Tension leg platform (TLP) dominated the global offshore mooring systems industry and was valued at over USD 350.0 million in 2015
  • The drag embedment anchors (DEA) are anticipated to witness the highest growth, growing at a CAGR of over 2.6% from 2016 to 2025
  • North America market is projected to witness a steady growth rate over the forecast period and is estimated to generate revenue exceeding USD 320 million by 2025
  • The U.S. dominated the North America market with a market share of 81.4% in 2015, and anticipated to observe the fastest growth in the region over the forecast period
  • The offshore mooring demand for FPSO in the U.S. is projected to grow at a high CAGR of 1.9% over the forecast period
  • Middle East is anticipated to emerge as the fastest growing regional market with a CAGR of 3.1% from 2016 to 2025, in spite of challenges faced in deep-water drilling worldwide. Key players including BP and Total are investing in the region and have become the leading stakeholders.
  • Some of the major prominent equipment suppliers to mooring service providers include Offspring International, Mampaey Offshore Industries B.V., Single Point Mooring Systems, Rigzone Mooring Systems, Fossen Shipping, and Scana Industrier ASA

For the purpose of this report, Grand View Research has segmented the global offshore mooring systems market on the basis of product, end-use and region:

Offshore Mooring Product Type Outlook (USD Million, 2014 – 2025)

  • Spread Mooring
  • Single Point Mooring (SPM)
  • Dynamic Positioning
  • Tendons & Tension Mooring
  • Others

Offshore Mooring Anchorage Outlook (USD Million, 2014 – 2025)

  • Drag Embedment Anchors
  • Suction Anchors
  • Vertical Load Anchors
  • Driven pile
  • Others

Offshore Mooring Application Outlook (USD Million, 2014 – 2025)

  • Tension Leg Platforms
  • Semi-Submersible Platforms
  • SPAR Platforms
  • FPSO
  • Drill Ships
  • Others

Source link:
http://www.grandviewresearch.com/press-release/global-offshore-mooring-systems-market

Well Testing Services Market Size, Share, Growth, Trends and Forecast 2014 To 2020

Posted on Updated on

Growing energy demand has resulted in increasing E&P activities. This trend is expected to drive global well testing services market over the forecast period. Well testing monitors the reservoir’s capability to produce hydrocarbons such as oil, gas and condensates which finds multiple applications in permeability & skin interpretation, formation pressure measurement, reservoir characterization and fluid characterization. Growth of these application segments in oil & gas industry is anticipated to fuel well testing services demand over the next six years. Increasing requirement for high precision measurement while drilling (MWD) and reservoir condition measurement instruments are further estimated to fuel market growth over the forecast period. Volatile crude oil prices are anticipated to generate lower profits margins to the E&P companies resulting in declining drilling activities. This is expected to have negative effect on the market growth over the next few years.

On the basis services, well testing services market has been segmented into down-hole testing, real time well testing, reservoir sampling & analysis and surface well testing. Real time well testing was the leading service segment in 2013 and is expected to remain the largest sector over the forecast period owing to optimized & stabilized results. Down-hole testing services utilize packers used for the measurement of flow rates and are the second largest segment currently and are projected to witness rapid growth in near future.

North American dominated the well testing services market in 2013 and is expected to remain the largest consumer over the forecast period. Increasing E&P expenditure and rising shale gas activities particularly in the U.S. and Canada is expected to enhance demand for these services over the next six years. Middle East and European markets are anticipated to register high growth in near future on account of increasing offshore and onshore drilling activities. Asia Pacific is also projected to witness above average growth owing to increasing E&P activities in countries such as China, Indonesia, Malaysia and India. Increasing drilling activities in newly discovered oil fields particularly in Nigeria, Libya and Brazil are estimated to create immense opportunities for well testing services market in near future.

Read more: http://www.grandviewresearch.com/industry-analysis/well-testing-services-market

Oil And Gas Fishing Market Analysis And Forecasts 2015 To 2022

Posted on Updated on

Global oil and gas fishing market is expected to witness high growth over the forecast period owing to continuous developments in oil And gas industry coupled with swelling crude demand across the world.

High drilling activities are conducted to produce oil from reserves. During these activities, a wide range of mechanical and immovable objects are prone to loses. Fishing services therefore include recovering these tools and objects from wellbore.

Recovering unwanted mechanical objects is also a part of conventional oil And gas fishing services. With the enhancement of crude exploration and production activities, the number of wellbore barriers also increases. These wellbore barriers include drilling tools, drill string components, and stuck equipment and objects.

Therefore, high number of wellbore barriers is expected to drive the global oil And gas fishing services market over the forecast period. Others activities, which are expected to drive overall industry, are packer retrieval, loss of debris during old/new well drilling & workover, and milling actions.

Continuous growth in crude exploration and production, mainly offshore, is expected to drive the overall demand over the forecast period. Investment initiatives by the government mainly in Asia Pacific countries such as India, China, Vietnam, and South Korea are expected to positively contribute towards industry growth in future.

Shale gas developments in the U.S. mainland has resulted into rise in exploration and production activities such as horizontal drilling and hydraulic fracturing. These drilling activities are expected to drive the global market demand over the forecast period.

Further, government initiatives in China to develop shale gas reserves by 2020 under shale gas program are expected to increase drilling actions in the country over the forecast period, which in turn is expected to significantly contribute towards the overall market demand in future.

Global industry is expected to be restrained by the requirement of skilled and experienced labors to increase efficiency of these fishing services. Growing demand for well maintenance is expected to establish as a key market opportunity over the forecast period.

Global industry is segmented based on product and application. Product segment consists of various fishing equipment such as overshot & spears, milling tools, fishing jars, and casing cutters. Milling tools are expected to witness high growth over the forecast period. Casing cutters are also expected to witness significant growth over the forecast period.

Application segment includes offshore and onshore. Onshore was the leading application segment, while offshore is expected to experience the highest growth in future owing to technological developments in oil And gas industry making it possible to conduct exploration and production activities in remote locations.

Read more: http://www.grandviewresearch.com/industry-analysis/oil-gas-fishing-market

Deepwater Hydrocarbon Exploration Market Analysis And Forecasts, 2014 To 2020

Posted on Updated on

Decline in the global conventional oil reserves coupled with ever increasing demand for conventional hydrocarbons especially in emerging markets of Asia Pacific and Latin America is driving demand for exploring hydrocarbon reserves in deep sea. According to EIA estimates more than 11% of the proven global oil and gas reserves are deepwater (depts. more than 1000 ft.) reservoirs. Global deepwater hydrocarbon exploration market may be broadly segmented on the basis of type of service namely deepwater exploration, drilling and deepwater hydrocarbon production. On the basis of depth of exploration the market may be segmented as deep water and ultra deep water. Also the industry may be segmented on the basis of the type of drilling platforms employed namely fixed platform rig, compliant tower rigs, jack-up rig, subsea systems and spar platforms.

Deepwater hydrocarbon exploration market is poised to witness significant growth in the next few years owing to the ever rising demand for conventional hydrocarbons (such as crude oil and natural gas) especially in emerging markets of Asia Pacific and Latin America. The market growth was previously constrained by the capital expenditure, high cost of exploration, negative profit margin and the underdeveloped technologies. However, the market gained significant insight in the last decade owing to increasing crude oil prices which led to economical feasibility of deepsea drilling and was further supported by technological advancement in the field of deepwater and ultra deepsea drilling and exploration. Increasing number of industry participants shifting their focus to venture the unexplored deepwater and ultradeep hydrocarbon traps have further boosted the market growth and the trend is anticipated to continue over the next several years. Increasing awareness and requirement for apposite regulatory framework is expected to further support the market growth for next six years. The market growth may be restrained owing to increasing environmental and HSE regulations for oil and gas exploration and drilling activities in order to limit the carbon footprint. Additionally, increasing demand for renewable and sustainable energy resources may further hamper the market growth in next few years. Technological advancements for exploring other unconventional hydrocarbon deepwater sources coupled with increased R & D activities may create new opportunities for the market players.

North America is the largest regional market for deepwater hydrocarbon exploration market. Majority of deepsea activities in last few years have been identified in Gulf of Mexico and North Sea Regions. North America was followed by Latin America owing to discovery of large hydrocarbon reserves in Brazilian and Venezuela offshore. Majority of the deepwater activities are expected to be centred in the ‘Deepwater Triangle’ which includes Latin America, Gulf of Mexico and Western Africa. Asia Pacific and Europe are one of the fastest growing regional markets for deepwater hydrocarbon exploration market for the forecast period. Middle East region has been identified to have significant deepsea reserves and immense potential in the near future. The global market for deepwater hydrocarbon exploration was dominated by few major oil and gas companies that include Schlumberger Ltd, Oceaneering International Inc., Transocean Ltd, PetroBras, Trico Marine Services Inc and Brazilian Petroleum Corporation.

Read more: http://www.grandviewresearch.com/industry-analysis/deepwater-hydrocarbon-exploration-market

Coal Handling Equipment Market Size, Analysis, Outlook And Forecasts 2015 To 2022

Posted on Updated on

Global coal handling equipment market is expected to witness a brisk growth owing to increasing efficiency criterion for the industry over the forecast period. Coal undergoes several phases such as preparation and handling phases during power generation operations. Such variety of operations demands an efficient and smooth material flow and quality management system.

Coal is still a dominant fuel for power generation, especially in the emerging regions such as Asia Pacific. Economies such as China and India have coal as their dominant fuel in their energy mix and are thus critical markets for handling equipment. Both old and new technologies are expected to improve with the increase in demand for greater fuel mobility, automation, and efficient consumption & supply monitoring.

Conventional handling equipment are expected to witness continuous growth over the forecast period owing to strong power generation demand over the forecast period. However, novel handling equipment are projected to witness a faster growth due to high technological advancement and increasing efficiency requirements.

Environmental concerns and stringent regulations, particularly in the developed regions such as North America and Europe, have clamped down the industry over the recent past. Government policies and standards have prompted power generation companies to shift away from coal and towards cleaner fuels such as natural gas. Such a shift in trend is anticipated to hamper the coal handling equipment market over the forecast period.

Alternative fuel sources such as natural gas have witnessed a brisk growth in the recent past, and thus, they are expected to negatively impact the coal handling equipment market. Government initiatives to promote renewable power generation sources such as wind solar and hydro electricity are projected to critically impact the industry in future.

Reducing demand in major consumption centers such as China is expected to hamper the regional as well as the global markets. Chinese initiatives to reduce greenhouse gas emissions as well as decrease imports to safeguard domestic coal mining operations have resulted in over capacity in the recent past. Such a step had a cascading effect on the global coal market and in turn on the coal handling equipment market.

Read more: http://www.grandviewresearch.com/industry-analysis/coal-handling-equipment-market

Proppants Market Analysis and Segment Forecasts to 2020

Posted on Updated on

Global Proppants Market is expected to reach 96.03 million tons by 2020, according to a new study by Grand View Research, Inc. Growing drilling and completion activities for shale gas in the U.S. and Canada is expected to drive market growth over the next six years. In, addition advent of multiple stage fracturing resulting in higher consumption of proppants per stage is expected augment demand over the forecast period. In addition, large technically recoverable shale gas reserves in China, Australia, Algeria and Russia is expected to promote market growth.

Sand was the largest product segment accounting for over 75% of market share in 2013. Sand is expected to witness demand growth owing to its low cost and high availability in comparison to other proppants. Ceramic proppants are expected to witness significant demand growth over the next six years on account of superior properties including high strength, crush resistance and conductivity resulting in increased use for shale plays.

View summary of “Proppants Market Analysis Report” @ http://www.grandviewresearch.com/industry-analysis/proppants-market

Further key findings from the study suggest:

  • Shale gas was the largest application segment in 2013 and is expected to witness swift growth over the forecast period due to large recoverable reserves in China, U.S., Algeria, Argentina, Mexico and Australia.
  • Increasing application scope of proppant in shale gas extraction on account of the latter being used in transportation and power generation is expected to propel market growth over the forecast period.
  • North America was the largest regional market, accounting for over 75% of global demand in 2013. The market is expected to witness significant growth over the next six years owing to growth in shale gas production coupled with increase in fracturing jobs per year.
  • Asia Pacific is expected to witness fastest growth, at an estimated CAGR of over 12% from 2014 to 2020, owing to high potential of shale gas reserves in China coupled with large coal bed methane reserves in Australia. Regional growth can be attributed to favorable government policies to develop shale gas reserves in India and China.
  • Key market participants include U.S. Silica, Carbo Ceramics, Momentive, Fairmount Santrol, Hi Crush LP Partners, Fores, Saint-Gobain and Preferred Sands. Preferred Sands and Dow Chemicals Company announced the production of an effective proppant solution that meets OSHA standard and limits silica dust exposures. Various companies focus on technological advancements to produce eco-friendly proppants which would offer increased fracture flow capacity and enhance hydrocarbon recovery.

Request for free sample of “Proppants Market Analysis Report” @ http://www.grandviewresearch.com/industry-analysis/proppants-market/request

Mining Equipment Market Analysis, Size and Growth to 2022

Posted on Updated on

The Global Mining Equipment Market is expected to reach USD 95.14 billion by 2022, according to a new study by Grand View Research, Inc. The mining industry has faced an economic slowdown over the last two years due to reduced investments and weak demand from major geographies including North America & Europe which has significantly hampered the mining equipment market.

Leading manufacturers including Caterpillar, Sandvik and Atlas Copco have reported substantial drop in their revenues as a consequence of the mining industry’s economic slump. The slowdown is primarily concentrated around new projects and expansion of existing projects. Current operations continue to perform well, with companies striving constantly to improve productivity.

The mining industry is expected to start its recovery post 2017, as mining equipment manufacturers are expected to increase their capital spending, triggered by the opening of new sites particularly in the untapped regions of Africa and Latin America.

Europe mining equipment market by product, 2012 – 2022 (USD Billion)

mining-equipment-industry

View summary of “Mining Equipment Market Analysis Report” @ http://www.grandviewresearch.com/industry-analysis/mining-equipment-industry

Further key findings from the study suggest:

  • Surface mining equipment contributed to over 30% of the overall market revenue in 2014 and is expected to continue dominating the market over the forecast period on account of growing demand for bauxite and iron ore. Underground mining machinery inclusive of continuous machines, long wall machines, hydraulic shovels, and cable shovels, also accounted for significant market share in 2014.
  • Metal mining is expected to remain the dominant application market over the forecast period on account of increased demand for precious metals including platinum, gold, and silver; the activity also requires considerable investment as a result of high degree of complexity involved and large scale of operations. Coal mining is poised for high growth due to growing demand for coal in electricity generation and heating.
  • Untapped regions of Africa such as Zambia and Congo having considerable metal mines and Latin American countries such as Chile, Brazil, and Peru are expected to trigger recovery in the mining equipment industry. China is anticipated to dominate the market throughout the forecast period on account of high demand from coal and metal industries. Europe and North America are expected to lose share over the next few years, due to barriers such as government restrictions on coal fired power plants.
  • Key market participants include multinational companies such as Sandvik, Atlas Copco, Caterpillar, Hitachi Construction Machinery, and Komatsu. Leading players lay emphasis on large production lines and professional manufacturing equipment resulting in high capital investments. In order to comply with stringent safety standards, market entry aspirants seek at obtaining safety qualifications for their products.

Request for free sample of “Mining Equipment Market Analysis Report” @ http://www.grandviewresearch.com/industry-analysis/mining-equipment-industry/request