Finding of fresh fields of oil & gas is to trigger the demand for oilfield services

 Synopsis:

The global Oilfield Services Market scope was appreciated by US$ 103.26 billion in 2016 and is projected to touch US$ 139.1 billion by the completion of 2025. It will register a CAGR of 3.4% between 2017 and 2025.

The oilfield services comprise diverse oil-associated actions for example intervention, stimulation, drilling, production, completion and exploration, among numerous others for accomplishing several purposes above the complete life cycle of oil well exploration. The services are furthermore useful in classification of well, zonal isolation, sand washing, perforation, well stimulation, and setting tubing plugs.

Due to the continuously growing population, the oil and gas industry is presently flourishing, and therefore the demand in the global market for oilfield services is estimated to grow by a healthy development percentage for the duration of the forecast.

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Drivers:

The finding of fresh fields of oil & gas is likely to trigger the demand for oilfield services particularly from subdivisions for example transportation and power plants. During the last few years, there has been an important growth in the removal of oil & gas resources for example crude oil and natural gas. This growth is additional reason motivating the oilfield services industry.

The sector of oil & gas is transforming due to enhanced oil recovery or EOR. This involves methods of thermal injection, gas injection, and chemical injection. This is additionally estimated to trigger the demand for oilfield equipment; thereby altering the viewpoint of oilfield services business. The technologies for example robotic oil rigs and remotely operated vehicles or ROVs may well help the enlargement of offshore oilfields. In this manner motivating the oilfield service market. Additionally, this is expected to empower development in the business of oilfield services for the duration of forecast. Oilfield operators are constantly concentrating on increasing the production and dropping price of oilfield equipment to enhance the market for oilfield services.

Classification:

The global oilfield service industry can be classified by Application, Service, and Region. By Application, it can be classified as Offshore, Onshore. By Service, it can be classified as Separation Service& Processing Service, Workover Service & Completion Service, Seismic Service, Production Service, Drilling Service, Well Completion Equipment & Services, Wireline Services, Pressure Pumping Services, Well Intervention Services, OCTG, Coiled Tubing Services, and Others.

Regional Lookout:

By Region the global oilfield services market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to make up the most important stake in the global market for oilfield services by the completion of the prediction period. Furthermore, the increasing demand for oilfield services in the U.S.A. comprises directional and horizontal drilling actions, mainly due to the existence of shale gas reservoir.

Additional cause accountable for the development of oilfield services in this region is the growing number of deep-water schemes particularly in the U.S.A. The Asia Pacific’s market is likewise estimated to develop at an important percentage due to the reasons for example growing number of offshore actions particularly in China and increasing figure of oil rigs. Finally, the market for oilfield services in the Middle East & Africa is expected to observe a greater CAGR. This is mainly due to the growing budget of investment in Gulf nation state and concentration on offshore possessions.

Companies:

Some of the important companies for oilfield services market are China Oilfield Services Limited, Oil States Industries, BJ Services Company, Weatherford International Ltd., Baker Hughes Inc., National Oilwell Varco, Schlumberger Limited, Weir Oil and Gas, Petrofac, Saipem, Transocean, SGS, Halliburton Company, Superior Energy Services, GE Oil & Gas, Nabors Industries Ltd., Superior Energy Services Inc., Precision Drilling Corporation, Trican Well Service Ltd., Liberty Oilfield Service, TechnipFMC plc, Bronco Oilfield Services Inc., and Asian Oilfield Services Limited.

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Rise in the number of market entrants and strategic alliances between key players are likely to add to the market growth

The global Wind Energy Foundation Market is likely to grow at a robust CAGR in the forecast period. Wind energy foundation is a turbine base that supports the wind energy structure against harsh environments. Hence, the foundation must be capable of supporting hydrodynamic loads along with aerodynamic loads.

The wind energy foundation market is driven by increase in demand for renewable energy sources since the market witnessed a higher traction in the past due to rise in number of energy installations. Rise in the number of market entrants and strategic alliances between key players are likely to add to the market growth during the forecast period. Significant demand from manufacturers with enhanced capacities in order to augment the power production is likely to account for a robust market growth during the forecast period. A rise in the number of offshore installations is likely to trigger the market growth.

Location segment for wind energy foundation market includes offshore and onshore. Offshore is further categorised as jacket-pile, mono-pile, tripod and suction. Onshore is further segmented as well foundation, pile and raft. Geographical segment for wind energy foundation market comprises North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions accounted for a significant market share in the near future owing to strong inclination of market players towards renewable sources of energy. The region is subject to witness rapid expansion in energy sector that will further boost industrial growth.

European market is a high traction market due to preference for clean sources of wind energy. Rise in need for electricity generation and energy developments are likely to replace the conventional sources of energy in the near future. The key players in the wind energy foundation industry include Ramboll Group, Owec Tower, MT Hojgaard, A/S Suzlon Group, SWAY AS, Blue H Engineering BV and Offshore Wind Power Systems.

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Rise in demand for electricity and consistent increasing investments for capacity expansions

Global Steam Turbine Market is predicted to grow significantly in the forecast period owing to the rise in demand for electricity and consistent increasing investments for capacity expansions. Steam turbines are the devices that extract thermal energy from steam and convert it into mechanical work with the help of rotating output shaft.

The rotational process of electrical generator produces electricity. Steam turbines are capable of utilizing high temperature, high pressure steam and need no internal lubrication. They have high rotational speed, capacity and weight ratio. They perform smoothly with almost vibration-free operation and come with oil free exhaust steam. Besides, they can be suitably built in small or larger units (till 1200 MW). Increasing investment for development of high capacity generation stores along with rising government investment for the development of combined cycle technology are driving the demand for steam turbines, thereby affecting the steam turbine industry.

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Furthermore, the extensive growth and increase in marine excavation will impressively influence the growth of steam turbines market. Growing measures to lessen electricity demand and supply gap with the current development of thermal power projects are expected to drive the steam turbine market growth in future. Nevertheless, strict government regulations concerning the replacement of conventional energy resources with renewable sources will hinder the progress of the market in the years to come.

Steam turbine industry is categorized on the basis of steam flow, blade design, application, and geography. On the basis of steam flow, the market is divided into axial, radial, mixed, tangential or helical, and reentry. Based on blade design, the industry is divided into impulse and reaction. In terms of application, steam turbine is split into petrochemical, power generation, pharmaceutical, food processing, waste to energy and many others. Power generation segment is expected to lead in the forecast period owing to increasing government initiatives, with respect to adoption of efficient technology along with increase in demand for electrification. 

Geographically, steam turbine market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is predicted to hold larger market share of steam turbine followed by Europe and Asia Pacific since these developing areas can bring immense potential opportunities.

Growing installation of thermal power generation units in emerging South Asian regions and also China will support the growth of the industry. China possesses abundant coal reserves and is concentrating on coal fired power plants regardless of dangerous environmental impacts. Steam turbine industry of India is also expected to propel the steam turbine market after resolving a few coal reserve issues.

The key players of steam turbine industry include AnsaldoEnergia, Elliot Group, General Electric, Sulzer Ltd., Mitsubishi Hitachi Power Systems Americas, Inc., MAN Diesel, Stork, Turbine Generator Maintenance, Inc., JSW Power Systems Private Ltd., Kessels Steam Turbines, and Hyundai Heavy Industries Ltd.

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Global oil spill management market is expected to cross a higher CAGR during the forecast period

The global oil spill management market is expected to cross a higher CAGR during the forecast period. Oil spill waste management results in generation and collection of huge quantities of oily waste. Gravel, emulsified oil, oiled sand, and accumulated debris could raise the waste volume to a greater extent of oil split originally. This waste typically surpasses the management of oily waste and response-relevant wastes can turn more time demanding and incur significant costs of an oil spill. Management of waste from a spill comprises setting up of logistical arrangement to allocate waste in a safe and efficient manner from the recovery point to disposal.

Market driving factors for oil spill management industry include rise in oil & gas transportation coupled with stringent policies of government pertaining to safety. Rise in huge investments for R&D positively is likely to impact the market development in the near future. In addition, strategic alliances for expansion could also result in market growth for the estimated period.

Technological segment for oil spill management market includes pre-oil spill and post-oil spill. Pre-oil spill and post-oil spill are further segmented into offshore and onshore. By response technique, the oil spill management industry includes chemical recovery, biological recovery and mechanical containment & recovery.

Geographical segment for oil spill management market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North American market is expected to dominate the market in the forecast period owing to stringent policies and regulatory framework by government. Asia-Pacific’s market is anticipated to rise at a significant CAGR owing to increased oil and gas exploration activities and government support for tax benefits and financial assistance for R&D activities.

The key players in the oil spill management market include Skim Oil Inc, OMI Environmental Solutions, American Green Ventures Inc, Spill Response Services, Oil Spill Response Limited, Osprey Spill Control and Fender.

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Global Fuel Cell Technology Market Application - Transportation, Portable, and Stationary Applications

Fuel cell helps to generate electrical energy from chemical energy through electrochemical process, the chemical is not burned therefore it is a source of clean fuel. The fuel cell technology industry is expected to witness significant growth on account of rising need for alternative energy sources and zero emission energy. Increase in demand of clean energy and large investments related to hydrogen storage infrastructure development are fuelling the growth of this industry. To promote use of clean and green energy government has invested heavily on exploration of this technology and has made strict government regulation to protect the environment which has propelled the demand.

Conventional battery cannot store more energy and need continuous replacement. The energy density of non-conventional cell is more than the conventional battery; this makes it a better environment friendly option. Growing need to derive energy from renewable source to save the conventional resources and increasing concern for environment protection is expected to propel the demand for the forecast period. Platinum and Ruthenium Alloy are catalyst used to convert the chemical energy to electrical energy through electrochemical reaction. These catalysts are costly which increases the installation cost making the installation costly and to store more energy more cells are required which is a challenge for this industry.

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This technology for vehicle is gaining importance globally due to its uniqueness and environment-friendly nature. The technology has the ability to generate all vehicle types such as heavy duty, power forklifts, passenger, and airport tugs. Decrease in oil consumption by the vehicles is need of the hour and this technology is the solution which makes it a golden market to explore. Major automobile companies are launching new cars which work on this technology such Toyota has launched Mira, Honda has launched Clarity, Mercedes is doing research on cars powered by these non-conventional batteries. Advancement in hydrogen storage know-how is another opportunity that is yet to be explored; it is expected to increase the stationary power, portable power, and transportation of power.

The global fuel cell technology industry is segmented on the basis of applications such as transportation, portable, and stationary applications. Furthermore, it is segmented on the basis of technology such as Direct Methanol, Polymer/Proton Exchange Membrane (PEM), Molten Carbonate, Phosphoric Acid, and Solid Oxide. The technology is growing rapidly with multiple benefits such as it has portable applications such as non-conventional battery can be used for devices such as laptop, mobiles and camera as a rechargeable battery. Portable fuel cells are expected to augment or replace battery technology and use either DMFC, or PEM.

Proton Exchange Membrane Fuel Cell (PEMFC) these are extensively used across the globe, its power to area ratio (absorbs more power per unit area) is higher which makes it ideal to produce more energy when compared to others. North America and Europe are the key contributor in this market owing to awareness to protect the environment and encouragement from government to use and harness clean energy. Asia-Pacific is expected to have significant growth for the forecast period owing to the largest value generating region for these cells, with Japan and South Korea being the major countries driving the market. In Middle East and African region, the market is growing at a slower rate due to lesser awareness, although Middle East and African regions comprise the future markets for this technology, these markets are considered as major emerging markets.

Key players in this industry are Aisin Seiki Co. Ltd., AFC Energy, Bloom Energy, Ballard Power Systems Inc., Ceres Power Holdings PLC, Ceramic Fuel Cells Limited, Fuelcell Energy, Doosan Corporation, Kyocera, Hydrogenics Corporation, and Plug Power Inc. In January 2016, Fuelcell Energy a leader in manufacturing, designing, operation, and service of clean energy has announced to install a plant of 5.6-megawatt power generation plant for Pfizer Inc. world’s largest biopharmaceutical company to provide reliable and low carbon electricity. This power plant will be built by using this knowledge to produce clean and green energy.

In January 2016, Bloom Energy announced the first ever high rise project for producing clean and green energy at Morgan Stanley global head quarter. This project will operate using this technology and expected to produce 750 KW. In October 2015, Doosan Corporation Fuel Cell has inked deal to manufacture 70 Power Plants for South Korean utility. This will provide clean power for 71000 South Korean homes. In August 2015, Ballard Power Systems provides clean energy products at low cost and helps customers in solving challenges related to fuel cell, acquired Protonex Technology Corporation a leading designer and manufacturer of advanced power management products. This acquisition will help in increasing the product offering by adding power management product and portable devices using these cells.

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Advanced Battery Technologies Market - Manufacturing and Segmentation

Advanced battery technology under its expansive coverage consists of lithium-ion batteries, lithium-iron phosphate market. A lithium battery is by far the best battery in advanced battery market. Market drivers for growth of advanced battery technologies market include the benefits reaped by lithium-ion batteries in terms of energy efficacy and considerable cost-savings. Advanced batteries are one-upping on conventional batteries in powering electric vehicles owing to their longer shelf-life, compactness and energy efficacy, a potential market driver for growth of advanced battery technologies market.

Limitations in material design consideration do not reflect a robust picture and steps have to take to address these problems in order to cope up with energy specifications required in electric cars, consumer electronics, wearable and electric boats and aircrafts. Lead Acid and lithium-ion batteries will hold fort for the next ten years but advanced and post-lithium batteries will make a significant impact on the market once the underlying conditions are met. Segmentation by Large and advanced battery systems comprises lead acid batteries and Ni-Cd batteries.

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Segmentation by second-generation large and advanced battery systems comprises Ni-metal hydride batteries, Li-ion batteries and lithium polymer batteries. Segmentation by specialty large and advanced battery systems include silver-zinc secondary batteries, silver cadmium batteries, Nickel Hydrogen Secondary batteries, Ni-Zn batteries and metal air batteries. Developmental large and advanced battery technologies systems market include sodium sulfur batteries, high-temperature lithium batteries, redox and flow batteries, Nickel-Iron batteries, Calcium Metal sulphide batteries, sodium-chloride batteries and lithium sulfur batteries.

Future prospects with presence in the high-growth areas represent a potentially augmented market for the advanced battery technologies. New variants of advanced batteries have been ushered in the market including nickel-metal hydride and zinc-air prototypes. Microelectronic charger technology and battery charger control technology and clean room technology have brought into focus, a new breed of batteries belonging to lithium-ion and lithium polymer jeopardizing future prospects for Nickel-Cadmium (Ni-Cd) and portable lead acid batteries.

Advanced batteries are a notch higher than traditional batteries with limited applications and a sea of opportunities exists for advanced battery technology market. With state-of-the art inventions such as lithium phosphate, sodium phosphate and sodium sulphur labeled as the new lithium-ion compositions, the current crop of lithium-ion designs are biting dust. Giant sodium sulfur batteries are being commissioned by electric utilities. 2008 and 2009 saw recessionary forces including lower gasoline prices that abruptly ceased the growth of nickel metal battery-powered Hybrid Electric vehicles (HEV’s) with Chrysler and GM throwing in the towel.

Key industry players include GS Yuasa Corp, Johnson Control Inc, LG Chem Ltd, Panasonic Corp, Samsung SDI Co Ltd and Sanyo Electric Co Ltd., ABSL power solutions Ltd and Advanced Battery Systems Inc., ALcad Ltd, all power battery Ltd, American Electric power, Antique Auto Battery, Anzode Inc, Apple Inc, Applied Power Inc, Arotech Corp, Hong Kong High Power Technology Ltd, Concorde Battery Corp, Covalent associates Inc, Magna International Inc and Atlantic Battery Co Ltd.

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Zero emission buildings market is anticipated to grow at a higher CAGR during the forecast period

Zero emission building (ZEB) is a residential or commercial building with significantly reduced energy needs through efficiency gains such that the balance of energy needs can be offered with renewable forms. On the basis of grid connectivity, the global zero emission buildings market is segmented into off grid and on grid zero emission buildings. Grid connected buildings revert surplus energy to the grid whereas off grid buildings preserve the surplus energy.

Buildings possess a significant effect on energy use and environment which sum up to more than 50% of energy usage by commercial and residential buildings. Energy consumed by construction sector continues to grow mainly because of new buildings are erected faster than the old ones. Conceptually, zero emission buildings points towards sustainable energy development with certain goals. The laid goals and the way they are defined stand crucial to the design process.

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At heart, a zero emission building is an illustration that enables the buildings to meet energy requirements from low-cost, locally available, non-polluting and renewable sources. At a certain level, zero emission buildings generate ample of renewable energy on site to equal or exceed its annual energy use. A grid connection enables necessary energy balances typically using traditional energy source such as electric and natural gas utilities when on-site generation does not meet the loads. Thus, achieving a zero emission building without a grid is impossible since the current generation of storage technologies stands limited.

Commercially, the construction of zero emission buildings yields modern technology and right use of energy. With lots of consumer awareness for environment and strict norms for government, the global zero emission buildings market is anticipated to grow at a higher CAGR during the forecast period.

The key driving factors responsible for the zero emission buildings market includes stringent government regulations to minimize fossil fuel dependency. Also, the governments now encourage the deployment of greenhouse gas capture and storage option. Additionally, inception of several schemes inclusive of financial assistance schemes, tax benefit schemes and subsidies to endorse renewable energy source which is anticipated to fuel the market growth during the forecast period.

On the basis of application, the global zero emission buildings market is segmented into commercial, residential and industrial zero emission buildings. Industrial segment is anticipated to grow during the forecast period owing to rise in infrastructure costs. On the basis of energy production technique, the global zero emission buildings industry is segmented into photovaltics and hybrid zero emission buildings.

On the basis of geographic segmentation, the global zero emission buildings market spans North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa. APAC regions are anticipated to drive the market growth during the forecast period owing to rise in electricity demand along with rapid industrialization. Regions such as China, India, Singapore, Indonesia and Japan are the biggest spenders on infrastructure.

North American market dominates the global market owing to stringent regulation on carbon emission. Middle-East regions are expected to rise at a higher CAGR during the forecast period owing to modern technology and rapid growth in economy. African regions are anticipated to grow at a moderate CAGR owing to rising infrastructural developments and ongoing technological developments in urban parts of Africa. The key players in the global zero emission buildings market include Integrated Environmental Solutions (IES), Johnson Controls, SageGlass, Solatube, Integral Group, Kingspan, Lendlease and The Rockwool Group, Schneider Electric, Siemens AG, ABB, Honeywell, and Pacific Controls.

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