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Global Process Plant Equipment Market in Downstream Oil and Gas Industry 2016-2020

  • Published: Aug 2016
  • Pages: 87
  • SKU: IRTNTR9916
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This market research report analyzes Fluor, Hyundai, Saipem, Samsung, and Technip to be the top players in the global process plant equipment market in downstream oil and gas industry. A comprehensive study of this market is also presented by type (boiler, piping, plant equipment, and valve) and by geography (the Americas, APAC, Europe, and MEA).

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 that have vast experience in construction of not only refineries but also other critical areas like petrochemical units, upstream exploration units, gasification units, and LNG terminals. As a result, small or medium vendors are facing difficulties in entering the market as they lace up front investments. The process plant equipment in the refining industry is provided by EPC players in long-term contracts. The EPC vendors specialize in building refineries and upgrading the plants by attaching specific units for secondary processing. Recently, it has been observed that vendors are trying to renew their contract by collaborating with public companies. For instance, Fluor, a US-based firm and a leading EPC player in the refining industry, collaborated with Sacyr by selling 50% of its operations to increase its presence in Spain and Southern Europe.

Key vendors in the market are -

  • Fluor
  • Hyundai
  • Saipem
  • Samsung
  • Technip

Other prominent vendors in the market are Bechtel, CB&I, Jacobs, KBR, Larsen & Toubro, NPCC, Petrofac, SK Engineering & Construction, Technicas Reunidas, and Worley Parsons.

Segmentation by type and the analysis of the process plant equipment market in downstream oil and gas industry

  • Boiler
  • Piping
  • Plant equipment
  • Valve

According to this market report, the plant equipment segment in the oil and gas industry dominated the market and is expected to grow at a CAGR of more than 1% by 2020. The plant equipment segment consists of pressure vessels, storage tanks, columns, crystallizers, heat exchangers, evaporators, and furnaces. This segment forms the core of any refinery and accounts for the largest share of equipment costs. The demand for such equipment will increase during the forecast period due to the rise in the number of complex refineries. While upgrading a plant, complex units like hydrocrackers and coking units are used, which have higher capital costs.

Geographical segmentation and analysis of the process plant equipment market in downstream oil and gas industry

  • Americas
  • APAC
  • Europe
  • MEA

In terms of geography, APAC led the process plant equipment market in downstream oil and gas industry and is expected to account for nearly 33% of the market’s revenue share by 2020. APAC has a high demand for refined petroleum products such as gasoline and diesel. This demand is primarily driven by countries like India and China, with steady GDP growth rate. These countries are also constructing refineries to avoid dependence on imports. India has low per capita consumption of petrochemicals and refined petrochemical products. As a result, most of the refined products are exported to Europe, the Middle East, and Asian countries. However, the country will increase its refining capacity from the rising growth of the construction, transportation, and manufacturing sectors.

Key questions answered in the report include

  • What will the process plant equipment market in downstream oil and gas industry size and growth rate be in 2020?
  • What are the key factors driving the global process plant equipment market in downstream oil and gas industry?
  • What are the key market trends impacting the growth of the global process plant equipment market in downstream oil and gas industry?
  • What are the challenges to market growth?
  • Who are the key vendors in the global process plant equipment market in downstream oil and gas industry?
  • What are the market opportunities and threats faced by the vendors in the global process plant equipment market in downstream oil and gas industry?
  • Trending factors influencing the market shares of the Americas, APAC, Europe and MEA.
  • What are the key outcomes of the five forces analysis of the global process plant equipment market in downstream oil and gas industry?

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview
  • Key assumptions
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights
  • Refining overview
  • Lifecycle assessment of refinery construction

PART 05: Downstream oil and gas industry analysis

PART 06: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 07: Market segmentation  by type

  • Process plant equipment in oil and gas industry by type 2015
  • Process plant equipment in oil and gas industry by type 2020
  • Process plant equipment in oil and gas industry by type 2015-2020
  • Plant equipment in oil and gas industry 2015-2020
  • Piping in oil and gas industry 2015-2020
  • Boilers in oil and gas industry 2015-2020
  • Valves in oil and gas industry 2015-2020

PART 08: Geographical segmentation

  • Process plant equipment in downstream oil and gas industry by geography 2015
  • Process plant equipment in downstream oil and gas industry by geography 2020
  • Process plant equipment in downstream oil and gas industry by geography 2015-2020
  • Process plant equipment in downstream oil and gas industry in APAC 2015-2020
  • Process plant equipment in downstream oil and gas industry in Americas 2015-2020
  • Process plant equipment in downstream oil and gas industry by Europe 2015-2020
  • Process plant equipment in downstream oil and gas industry in MEA 2015-2020

PART 09: Market drivers

  • Increase in complexity index of refineries
  • Higher demand for refined products
  • Increase in new refinery construction across Asia and Middle Eastern countries

PART 10: Impact of drivers

PART 11: Market challenges

  • Overcapacity of refineries in developed countries
  • Competition from renewable fuels resulting in a decrease in market share of refined oil products
  • Unstable regulatory environment in African countries

PART 12: Impact of drivers and challenges

PART 13: Market trends

  • Mixed impact: greater refining margins marked with delays in refining investments
  • Stricter regulations related to fuel specifications
  • NOCs keen to set up refineries in demand growth centers

PART 14: Vendor landscape

  • Competitive landscape
  • Other prominent vendors

PART 15: Key vendor analysis

  • Fluor
  • Hyundai Engineering
  • Saipem
  • Samsung Engineering
  • Technip

PART 16: Appendix

  • List of abbreviations

PART 17: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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