The global drill pipe market size was USD 935.0 million in 2015. Significant oilfield expansions particularly in the North America and the Middle East along with improving drilling techniques with enhanced productivity have been the key factors steering industry growth over the past few years. The crude oil price slump since mid-2014 have led to substantial decline or discontinuation of drilling activities majorly in the U.S., Saudi Arabia, UK, and Canada. This has earnestly affected the overall operating profitability of most of the E&P companies operating globally. The above factors have dramatically hindered the drill pipes industry growth over the past two years.
Independent contractors are expected to ramp-up operations in the U.S. and Canada by the last quarter of 2016 hoping the WTI crude oil prices to stabilize by then. The anticipated recovery of onshore activities along with E&P companies striving to meet the current energy demand are also estimated steer growth.
High production costs are estimated to hamper the overall market over the forecast period. Regulatory agencies such as Fund for Wild Nature (FWN) have issued numerous directives concerning petroleum production. This is expected to retard the overall industry, thereby hindering the market growth over the forecast period. Growing atmospheric distress concerning hazardous fumes emission due to exploration is also expected to hinder the market development.
The equipment rental services sector has also witnessed a steep decline in the new contracts over the past two years. This is expected to rebound by the end of 2016 with recovery in oilfield activities and anticipated stabilized petroleum prices by then. Discovery of new hydrocarbon reserves especially in the South China Sea, Pakistan, Israel, Australia, Senegal, and Egypt in past few years are anticipated to provide lucrative opportunities to industry participants in the near future.
Increasing R&D spending by key vendors to optimize the production of drill pipes and improve the overall material strength to meet the API specifications is projected to support future demand.
The Middle East Distribution Panel Market size is expected to reach USD 2.01 billion by 2022, according to a new study by Grand View Research, Inc.
Distribution panels constitute an insulated board or box containing circuit breakers, from which connections are made between the main feeder lines and branch lines. Widespread usage of such boards in telecommunication, servers, generators, alternative power, and medical industry applications is expected to escalate industry growth over the next few years.
Technological advancements incorporating several features in distribution panels that tend to reduce installation complexities and energy imports have led to increased self-sustainability. Additionally, high level of engineering innovation has resulted in better designs and significant benefits, simplifying wiring and reducing material requirements. These latest designs also meet shorter lead time requirements.
Such electrical devices which offer benefits such as efficient power supply while providing protective circuit breakers, have created avenues for industry growth. Smart distribution panels’ development promotes high penetration of renewable resources and dynamic islanding, which may also spur demand significantly over the forecast period.
Further key findings from the study suggest:
- The standalone panel segment is estimated to grow at a CAGR of over 5% during the next seven years. Standalone boards are extensively used in urban areas while pole-mounted distribution boards find applications in electrical T&D in remote and rural areas.
- Capacity segment comprises low, medium, and high voltage distribution boards. Medium voltage boards contributed to over 40% of the overall revenue share in 2014, which can be attributed to their increased use in the domestic sector. High-voltage boards also captured a considerable portion of the market owing to their growing applicability in commercial applications such as shopping malls and airports.
- Saudi Arabia is expected to grow at a CAGR of over 6% during the forecast period on account of increasing electrical T&D activities across the region. Qatar is expected to grow significantly over the next seven years on account of increasing commercialization and businesses in the region. Rising demand for improved quality and reliability of energy supply coupled with optimum management of power grids is expected to increase demand for such T&D panels in the region.
- Key industry participants include ABB Ltd., Abunayyan Holding, Ba`amer Electric, EAMFCO, Hager, Legrand, National for Electrical Panel Boards, Riyadh Factory for Panel Boards, and Schneider Electric SA. Vendors offer enhanced and differentiated products in order to gain a competitive advantage over other industry players.
- Companies are focused on their regional expansion strategies and are undertaking mergers and acquisitions to gain momentum in the market. For instance, in June 2015, French electrical equipment major, Legrand announced acquisition of Raritan, which specializes in data center and electrical infrastructure solutions and thus added Raritan’s intelligent power and KVM businesses into its core activities.
Global tight gas market is expected to reach USD 59.40 billion by 2020, growing at a CAGR of 3.6% from 2014 to 2020. Depleting conventional natural gas reservoirs around the world has prompted the industry to develop unconventional reserves which is expected to remain a key factor driving the market for tight gas. In addition, government support in the form of financial incentives and tax holidays is also expected drive the market over the forecast period. Favorable regulatory scenario in China, coupled with government initiatives to increase tight gas and CBM production is expected to drive market demand over the next six years. However, high costs associated with drilling and completion of tight gas reserves and environmental concerns caused due to hydraulic fracturing are expected to be a key challenge for market participants in the coming years.
Further key findings from the study suggest:
- Global tight gas production was 11,816.3 Bcf in 2013 and is expected to reach 16,141.5 Bcf by 2020, growing at a CAGR of 4.7% from 2014 to 2020.
- Power generation emerged as the leading application market for tight gas and accounted for 33.1% of total tight gas produced globally in 2013. Power generation along with being the largest market is also expected to be the fastest growing application market, at an estimated CAGR of 6.2% from 2014 to 2020.
- North America dominated the global market for tight gas with the U.S. and Canada together accounting for more than 75% of global tight gas produced in 2013. U.S. dominates the North American tight gas market, with revenue estimated at USD 25.92 billion in 2013, expected to grow at a CAGR of 3% from 2014 to 2020. However, government support to push the production of tight gas in China is expected to make Asia Pacific the fastest growing market for tight gas at an estimated CAGR of 13.6% from 2014 to 2020. However, lack of drilling companies operating in Australia and Western Europe to meet the economies of scale has been hampering the production rate.
- Key companies operating in the global tight gas market include, Anadarko, British Petroleum, ExxonMobil, PetroChina, Royal Dutch Shell, Sinopec and Total SA among some other companies.
The global market for specialty fuel additives is expected to reach USD 8,517.6 million by 2020, according to a new study by Grand View Research, Inc. Dynamic regulatory trends, particularly in North America and Europe has prompted fuel marketers to use specialty fuel additives which is expected remain a key driving factor for the market over the forecast period. In addition, ban on MTBE in the U.S. is expected to further push the demand for fuel additives over the next six years. However, emergence of alternative fuel such as autogas (LPG) and CNG owing to eco friendly characteristics is expected to hamper the market growth over the next six years.
Deposit control additives emerged as the leading market products and accounted for 39% of total global volume in 2013. Increasing demand for detergent as an additive is expected to fuel the demand for deposit control additives over the forecast period. However, cold flow improvers are expected to be the fastest growing product segment at an estimated CAGR of 7.9% from 2014 to 2020. Positive outlook on biodiesel demand, especially in regional markets of North America and Europe is expected to boost cold flow improver sales over the next six years. The global demand for cetane improvers is projected to reach 209.6 kilo tons by 2020, at an estimated CAGR of 5.7% from 2014 to 2020.
Further Key findings from the study suggest:
- The global market for specialty fuel additives was 1,383.4 kilo tons in 2013 and is expected to reach 2,066.4 kilo tons by 2020, growing at a CAGR of 46% from 2014 to 2020.
- Gasoline dominated the global application market for specialty fuel additives, accounting for 46.2% of total market volume in 2013. High gasoline demand, mainly in the U.S. is expected to drive the demand for specialty fuel additives used in gasoline. However, owing to surging demand for ULSD, diesel is expected to surpass gasoline to emerge as the leading application market for specialty fuel additives by 2020. On the aforementioned factors, diesel is also expected to be the fastest growing application market for specialty fuel additives at an estimated CAGR of 6.5% from 2014 to 2020.
- North America dominated the global market for specialty fuel additives and accounted for 27.8% of total market volume in 2013. Clean fuel program initiated by the U.S. EPA is expected to drive the regional demand for specialty fuel additives. However, rapid strides by countries such as India and China in fuel consumption are expected to turn Asia Pacific as the most attractive market which is projected to grow at an estimated CAGR of 7% from 2014 to 2020. In addition, Asia Pacific is expected to surpass North America to become the largest market for specialty fuel additives by 2020.
- Global market for specialty fuel additives is moderately concentrated with top four companies including NewMarket, Innospec, BASF and Infineum accounting for 48.5% of total market in 2013. Other companies operating in the global specialty fuel additives market include, Lubrizol, Baker Hughes, Chevron Oronite, Albemarle, Chemtura, Clariant, Dow Chemical Company, Evonik Industries, Eurenco, Total Additives & Special Fuels, Dorf Ketal and NALCO Champion among others.
The global market for shale gas is expected to reach USD 67.02 billion by 2020, according to a new study by Grand View Research, Inc. Depleting conventional energy reserves across the globe has prompted the industry to shift focus towards developing alternative energy sources which is expected to remain a key driving factor for shale gas demand over the next six years. In addition, regulatory support for developing unconventional gases including shale gas is also expected to enhance commercialization over the forecast period. However, environmental concern, especially excessive usage and contamination of water during shale gas production process is expected to be a key challenge for industry participants over the next six years.
Power generation emerged as the leading application market for shale gas and accounted for 30.4% of total market volume in 2013. Environmental concerns regarding power generation via conventional energy coupled with regulatory support for development of unconventional energy sourcesfor power generation is expected to remain a key driving factor over the forecast period. However, transportation is expected to be the fastest growing application market for shale gas at an estimated CAGR of 10.8% from 2014 to 2020. Growing demand for alternative fuels such as compressed natural gas (CNG) and autogas (LPG) is expected to drive the demand for shale gas in transportation industry over the next six years.
Further Key findings from the study suggest:
- The global shale gas production was 10,826.6 bcf in 2013 and is expected to reach 18,211.3 bcf by 2020, growing at a CAGR of 8.3% from 2014 to 2020.
- U.S emerged as the leading shale gas producing country and accounted for 91.8% of total market volume in 2013. The U.S. shale boom has changed the overall energy scenario of the nation, prior to shale gas development; the U.S. was a net importer of natural gas. However, due to rapid exploration and production activities of shale gas, U.S. for the first time in many years emerged as a net exporter of natural gas in 2012. However, Asia Pacific is expected to be the fastest growing producer for shale gas at an estimated CAGR of 66.7% from 2015 to 2020. The Chinese government has also been providing substantial support in form of financial incentives and tax benefits to companies operating in shale gas market in China which is expected to drive the market over the forecast period.
- The global market for shale gas is highly competitive in nature and is led by top multinational oil & gas conglomerates which are present across the value chain. Conventional oil & gas companies coupled with companies focusing only on alternative energy forms the mix of the market. Shift in focus towards developing shale gas basins in China is expected to remain a key strategy for the market participants. Some of the leading companies in the global shale gas market include Anadarko Petroleum Corporation, Antero Resources, BHP Billiton, Cabot Oil & Gas, Chesapeake Energy Corporation, Devon Energy, Encana Corporation, Exxon Mobil Corporation, Reliance Industries Limited, Royal Dutch Shell, SM Energy, Statoil, Talisman Energy Inc. and Total SA among some other companies.
Distributed Energy Generation (DEG) Market Size, Share, Growth, Trends And Segment Forecasts To 2020
In 2013, the global distributed energy generation (DEG) market was worth USD 113.53 billion. Increasing awareness to curb global warming by reducing greenhouse gas emissions is likely to drive growth. Moreover, reduction of water, air and soil pollution, and minimizing expenditure incurred by large power plants are other key drivers of the market.
Ability of DEG to produce electricity from both conventional and non-conventional resources have made them an environment friendly route for energy generation through wind, solar and tidal energy. Increasing output of tight and shale gas in North America, particularly the U.S., along with innovative hydraulic fracturing techniques are few of the other factors augmenting demand over the next few years. The industry is estimated to be valued at USD 179.65 billion by 2020
In 2013, solar photovoltaic (PV) and wind turbine together accounted for more than 50% of the total capacity. Government initiatives for the development of solar PV and wind generation in Japan, China and Germany are expected to augment solar photovoltaic (PV) and wind turbine demand.
Competent prices of DEGs over conventional generators is anticipated to generate a high demand for the technology is anticipated to bolster growth. The market which was 102.97 GW in 2013 is anticipated to reach 227.63 GW by 2020,increasing at 12.0% CAGR over the projected period.
Eco-friendliness and increasing expense on R&D of fuel cells is likely to augment growth, in terms of capacity, at a 19.4 % CAGR over the forecast period. Ability of combined heat and power (CHP) technology to produce electricity or power with low greenhouse emissions has been one of the reasons for its dominance capturing over 40% capacity in the overall market in 2013.
Economically viable installation cost and easy accessibility of on-grid systems to the utility sector has resulted in their dominance in 2013 within the global industry accounting for 90% capacity. Introduction and implementation of numerous government policies to provide electricity in remote rural areas, especially in Asia Pacific, is projected to result in substantial gains for off-grid DEG. Moreover, the ability of off-grid systems to reserve generated energy using a battery is likely to result in generating revenues exceeding USD 6.5 billion by 2020.
Global Oil And Gas Separation Market is expected to reach USD 10.68 billion by 2020, according to a new study by Grand View Research, Inc. Favorable initiatives such as Kuwait conventions and U.S. EPA regulations towards maintaining optimum pipeline fluid quality with low gas to water and oil to gas ratio are expected to drive global oil & gas separation market. Increasing environmental concerns along with strict quality specifications are also expected to have a positive influence on the market growth. Key market participants have been investing heavily in R&D for technological developments to meet pipeline specific fluid quality. Rising E&P in conventional & unconventional reservoirs in offshore & onshore locations along with increased levels of water production in tight reserves is also expected to impact the market growth. Growing solid handling issues in existing plants along with high cost of equipment upgradation is expected to remain a key challenge for market participants.
Gravitational separation emerged as the leading oil & gas separation technology and accounted for over 45% of total market revenue in 2013. Gravitation is the most conventional method used for oil & gas separation and its existing capacities coupled with its effective separation have contributed to its growth in the past. The segment is expected to lose some of its share to other high growth segments such as centrifugal separation owing to increasing R&D and technological advancements to handle multiple fluid phases and various crude oil grades. Centrifugal technology is estimated to witness the fastest growth at a CAGR of 4.7% from 2014 to 2020 owing to more efficient separation mechanism.
Further key findings from the study suggest:
- Three-phase separators were the largest product segment and accounted for over 40% of total market revenue in 2013. It is also expected to witness the highest growth of 4.9% over the next six years owing to their ability to deal with solids. Scrubbers are also estimated to witness significant growth over the forecast period on account of efficient mist separation coupled with increasing environment regulations for maximum particulate and GHG content in flare gases.
- Onshore was the largest application segment and accounted for 59.6% of total market revenue in 2013. Oil & gas separation demand in offshore is expected to witness the highest growth rate of 5.4% from 2014 to 2020. Increasing deep sea and ultra deep sea investments in the “Golden Triangle” is expected to drive this segment over the forecast period.
- North America was the largest regional oil & gas separation market and accounted for over 40% of total market revenue in 2013. The regional market is expected to witness significant growth on account of large number of shale plays in the U.S. Asia Pacific is expected to witness the highest growth rate of 5.1% over the next six years on account of improving oil & gas infrastructure coupled with rapid development of shale gas E&P. Increasing offshore oil & gas development in countries such as Malaysia, Indonesia and Vietnam is also expected to fuel the regional market.
- Major companies in global market have been investing heavily on R&D for efficient oil & gas separation technology development. Key players operating in global oil & gas separation market include Opus Company, Pall Corporation, Unidro SpA, Hamworthy, Twister BV, Honeywell, Frames Group, Sulzer and FMC Technologies, Alfa Laval, Andritz and Westfalia.