Turbines in the Oil & Gas Industry: Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)

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Turbines in the Oil & Gas Industry: Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)

Status : March, 2020 | Chemical & Materials | PPT format

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Turbines in the Oil & Gas Industry: Introduction:

The turbines in the oil & gas industry are used for power generation by coupling them with a compressor or pump. There are two types of turbines that are used in the oil & gas industry, namely gas turbines and steam turbines. Gas turbines are installed in natural gas plants, oil booster stations, gas compression stations, petrochemical plants, power generation plants, and cogeneration plants. Gas turbines provide more reliable, efficient, and environmentally friendly power generation with super low NOx emissions in mobile and stationary platforms. Impulse & reaction steam turbines are widely deployed in the oil & gas industry.

The switchover from coal to gas due to environmental regulations in Europe and USA has driven the demand for gas turbines in the oil & gas industry. The Asian oil and gas industry is expected to drive the demand for turbines in the global oil & gas industry as drilling operations are being widely used. The emerging countries in Southeast Asia are expected to play a pivotal role in enhancing the offshore oil & gas projects, which is expected to drive the usage of turbines in the oil & gas industry.       

The oil & gas business is growing widely in offshore applications and it is driven by new joint ventures and contracts in subsea operations. This is driving the usage of turbines in the oil & gas industry. In addition, the installation of new gas turbines aids in offshore applications such as the Floating, Production, Storage and Offloading (FPSO) of vessels. This is expected to substantially boost the adoption of turbines in the oil & gas industry.

Turbines in the Oil & Gas Industry: Market Dynamics:

At present, there is high demand for turbines in the oil & gas industry as the production and supply of gas is exceeding that of coal. Manufacturers of turbines in the oil & gas industry are creating advanced turbines to improve their ability to adapt to rugged oil field applications. An increase in oil operations is expected to boost the market for turbines in the oil & gas industry. Technological developments in remote monitoring and diagnostics has increased the scope for the deployment of the latest turbines in the oil & gas industry. As the operations are moving to remote locations and the offshore environment is harsh, the manufacturers of turbines in the oil & gas industry are providing products that can yield high output and power density. Challenges in offshore applications are expected to be among factors that will encourage the deployment and installation of turbines in the oil & gas industry. The usage of these turbines in the oil & gas industry with modern technology like Rolls Royce Aero Engine, especially in offshore projects, is likely to increase production capacity and reduce capital investments for end-users.    

Mergers and Acquisitions (M&A) will be among key strategies adopted by major players, such as Siemens and GE, to enhance their market share. In addition, it will also help Original Equipment Manufacturers (OEMs) such as Rolls Royce to enhance their growth potential in the turbines in the oil & gas industry.

Turbines in the Oil & Gas Industry: Market Segmentation:

The turbines in the oil & gas industry can be segmented into turbine types based on power output and operations.

On the basis of turbine type, the turbines in the oil & gas industry is segmented into:

  • Gas turbines
  • Steam turbines

On the basis of power output, the turbines in the oil & gas industry is segmented into:

  • Less than 50 MW
  • 50-150 MW
  • 150-500 MW
  • 500-1000 MW
  • More than 1000 MW

On the basis of operation, the turbines in the oil & gas industry is segmented into:

  • Upstream
  • Midstream
  • Downstream

Turbines in the Oil & Gas Industry: Regional Outlook:

North America is estimated to deploy advanced turbines with maximum efficiency across onshore and offshore operations owing to the growing demand for oil and gas production from deep-sea regions. This is expected to enhance the turbines in the oil & gas industry with new technologies. The US, Japan and European manufacturers are focusing on innovation and technologies for turbines in the oil & gas industry, which can enhance productivity and efficiency.    

The number of manufacturers of turbines in the oil & gas industry is expected to increase in Asia-Pacific as the demand for oil & gas continues to rise due to urbanization, growing transportation and industrialisation. The economic and environmental advantages of using natural gas to provide power for oil and gas operations using turbines in the oil & gas industry is increasing and the key players in the market are expected to benefit from this growth. These factors are estimated to augment the growth of turbines in the oil & gas industry during the forecast period.

Turbines in the Oil & Gas Industry: Key Market Participants:

Some of the key market participants in the turbines in the oil & gas market are:

  • General Electric
  • Kawasaki Heavy Industries, Ltd.
  • Siemens AG
  • Triveni Turbines
  • Mitsubishi Hitachi Power Systems, Ltd.
  • Turbine Marine
  • Vericor Power Systems (MTU Aero Engines)
  • MAN Diesel & Turbo
  • Caterpillar
  • Atlas Copco AB

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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