Oil and Gas
Overview of the global LNG tanker market
Market research analysts at Technavio have predicted that the global LNG tanker market will grow steadily during the forecast period and in terms of trade volume, the market will post a CAGR of almost 12% by 2020. The significant increase in the marine pollution has resulted in the increase in the focus of countries around the globe on marine environment protection and attempt to revive the marine ecosystem. Several countries have introduced stringent marine pollution regulations, which is considered to be one of the major factors that will have a positive impact on the growth of the LNG storage tank market. Crude or refined oil is one of the most culpable of all marine pollutants and affects the marine life in several ways. Additionally, several organizations hold the shipping industry responsible for several other forms of pollution that include sewage disposal and the emission of nitrous and sulfurous oxides by the burning of diesel/gas. The use of the natural gas as LNG does present several environmentally detrimental factors and will soon be the most sought after alternative fuel by the shipping industry. This estimated increase in demand will drive the demand for liquefied natural gas tankers.
Conventional LNG tankers are equipped with a reliable and moderately efficient steam turbine-driven propulsion system. GDF SUEZ Global Energy and Provalys vessels are propelled by a dual-fuel diesel-electric propulsion (DFDE) system that utilizes both diesel oil as well as boil-off gases, which increases the efficiency of the vessel by almost 30% when compared to conventional vessels. This will increase the adoption of DFDE systems in the next few years, and the revamping of carrier
Global outlook of the drilling and completion fluids market
According to the research analyst at Technavio, the global drilling and completion fluids market will exhibit impressive growth during the forecast and will post a CAGR of approximately 7%by 2020. One of the primary growth drivers for the drilling and completion fluids market will be the migration of drilling activities to unconventional areas. Hydrocarbon-rich areas were discovered only during the 20th century and will enable companies to venture towards unconventional avenues for exploration. In the search for new resources, energy companies will shift their base of operations from the Middle East, Gulf of Mexico, and the North Sea to new untapped areas stretching from the Yamal basin in Russia and the Andaman Sea in the Indian-subcontinent to as far as the Arctic and Antarctic circles. The increase in the global dependency on hydrocarbons will result in the exploration and migration of energy companies to unconventional areas for their drilling activities.
During 2015, the Americas had the largest influence in the drilling and completion fluids market, accounting for a total market share of about 61%. Since the Americas is the biggest consumer of crude oil and unconventional gas and oil during the forecast period, it will be the forerunner in this market. Increasing demand from the US, Canada, and Mexico is also resulting in the expansion of drilling activities. It is estimated that with the exploration activities for new resources in the Gulf of Mexico, the Americas will continue its market dominance during the forecast period.
Competitive Landscape and key vendors
Drilling activity is the core of the oil and gas sector. Investments in this sector are steep, and the vendors require experience and technology to excel in this market. The vendors adopt various strategies like joint ventures,
Overview of the global process plant equipment market in downstream oil and gas industry
Extensive research carried out by the analysts at Technavio has shown that the global process plant equipment market in downstream oil and gas industry will grow at a CAGR of more than 1% over the predicted period. Developing countries like India, China, and the Middle East are anticipated to have a large number of new refineries during the forecast period. China is expected to witness a high demand for refined products as well as petrochemicals, despite its economic slowdown since 2012. The Middle Eastern countries are attempting to reduce their dependency on imports by developing their downstream refining capability. The countries in this region are utilizing abundant crude oil supply to manufacture and export petrochemical products.
Greenhouse gasses (GHG) emissions from the transportation sector contribute a significant share in overall global emissions. As a result, developed markets like the US and Europe have enforced stricter emission regulations to reduce the content of sulfur and NOx in vehicular emissions. For instance, India, following the COP21 agreement, declared that it would skip standards similar to EURO V and adopt standards on the lines of EURO VI by 2020. The strict guideline state that refiners must upgrade their secondary processing equipment in the refineries to supply fuel in accordance with the current emission standards.
Competitive landscape and key vendors
The overall competition in this market is quite intense with the presence of multiple big players. The market is highly dominated by multinational companies
Global outlook of the mining waste management market
Technavio’s market research analysts have predicted that the global mining waste management market will grow steadily during the forecast period and in terms of volume, will post a moderate CAGR of almost 2% by 2020. This industry research report identifies the growing awareness towards the need for reducing carbon emissions to be one of the major factors that will have a positive impact on the growth of the waste disposal market in the mining industry in the coming years. Rapid industrial development and the growing number of mining operations have led to a significant increase in carbon emissions, resulting in environmental damage. Energy generation needs for the extraction of minerals from the ores is identified to be the largest source of carbon dioxide from mining operations. The implementation of new-age mining waste management programs such as the capturing of carbon dioxide from mining wastes can help in the significant reduction of carbon dioxide emissions.
One of the major trends that will gain traction in the global market for waste management in mining operations is the rising popularity of green mining and bio-mining. Bio-mining includes the use of microbes such as bacteria and fungi that can help convert the metal inside ores into the respective water-soluble state and can also act as bio-catalysts during leaching operations. Whereas, green mining depends on the adoption of guidelines such as the closure of the illegal and unregulated mines, the selection of environmentally sustainable mining techniques, and ensuring proper clean-up in the mine closure stages.
Competitive landscape and key vendors
Though characterized by a number of mining waste management
Overview of the global drilling data management systems market
Technavio’s market research analysts have predicted that the global drilling data management systems market will grow steadily at a CAGR of around 12% by 2020. This market study identifies the increased focus on asset optimization as one of the major drivers for the growth of this market. Crude oil well operators have recently shifted their focus from maximizing production to enhancing the life of the field and reducing operational costs. The rise in operational costs has forced the global oil and gas producers to focus their attention on the optimization of resources. Benefits such as improvements in drilling accuracy and safety, reduction in the non-productive time, improvements in the real-time decision-making process, and predictive maintenance scheduling have compelled oil well operators to use data capturing and analytics to bring about efficiency in their oil and gas data management systems.
Oil and gas enterprises have identified big data analytics as a way to accelerate decision-making. To enhance pattern recognition and improve the optimization of oil and gas operations, organizations have started using collaborative structured and unstructured data. The introduction of user-friendly predictive modeling tools that accelerates methods for developing, ascertaining, and analyzing predictive models and the similarities that exist between the drilling industry and the big data industry fundamentals will induce more enterprises to use big data analytics in the coming years.
Segmentation by product type and analysis of the drilling data management systems market
During 2015, the services segment dominated the drilling data management systems market and accounted for almost 56% of the total
Market outlook of gasoline market in the US
Technavio’s research analyst predicts the gasoline market in the US to witness a decline in the consumption of gasoline during the forecast period. In terms of gallons consumed per day, the analysts have estimated this market to surpass 18,732 gpd by the end of 2020. The government mandates to use gasoline in conjunction with additives has led to the constant use of gasoline in the market. Gasoline can be blended with biofuels such as ethanol, which results in better performance than its other counterparts such as diesel. Government regulations support the use of gasoline over other fuels due to the right balance of emissions and fuel performance that it provides.
The transportation industry in the US is undergoing continual changes in terms of technology upgrades in light duty vehicles. The vehicles currently being manufactured have improved vehicle bodies and engines. Also, the stringent government regulations encourage the use of better grade gasoline leading to more efficiency gains. This in turn leads to a decrease in the quantity of gasoline consumed per mile. A combination of these two factors has resulted in a constant decline in gasoline consumption over the years that is expected to continue during the forecast period.
Geographical segmentation and analysis of the gasoline market in the US
- East Coast
- Gulf Coast
- Rocky Mountain
- West Coast
During 2015, the Midwest region held the largest share of about 37%. The gasoline consumption in the region is expected to decline at a CAGR of 5% over the forecast period. This is because blending of biofuels with gasoline is highly popular in the region.
Competitive landscape and key vendors
The oil and gas sector is transforming, with greater diversification and expansion of upstream, midstream, and downstream operations.
In the upstream segment, exploration of unconventional sources, like shale gas, tight gas, coal bed methane, and heavy oil, is the new area of focus for oil and gas experts. The shale gas revolution has been a big game changer for the US economy, and several other countries are expecting similar booms in the near future.
The downstream (oil and gas refinery) sector is also experiencing growth because of the increasing production of shale gas and tight gas.
Since the onshore oil and gas industry has reached a saturation point, attention is now turning to offshore operations.
However, growing environmental concerns have now compelled governments to mandate strict regulations on oil and gas production, which is likely to impact business dynamics in this market significantly through the projected period.