Floating Production Storage and Offloading Market is Expected to Grow at a Healthy CAGR with top players Bumi Armada, Shell, BP, ExxonMobil, Petrobras, Chevron

According to the new marke research report "Floating Production Storage and Offloading Market by Type (New-Build & Converted), Hull Type (Single & Double), Propulsion (Self-propelled & Towed), Usage (Shallow water, Deepwater & Ultra-Deepwater), and Region - Global Forecast to 2024" The global floating production storage & offloading market is projected to reach USD 26.0 billion by 2024 from an estimated USD 19.5 billion in 2019, recording a CAGR of 5.9% during the forecast period. The increasing number of offshore exploration & production activities and rise in deep- and ultra-deepwater oil & gas production are factors projected to drive the growth of the floating production storage and offloading market, globally.

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The converted segment is projected to dominate the floating production storage & offloading market during the forecast period.

Converted FPSOs require lower modification cost and lesser construction time to build, as compared to the new-build FPSOs. This is projected to drive the demand for converted FSPOs in the floating production storage and offloading market.

The self-propelled segment is projected to account for a major share in the floating production storage & offloading market during the forecast period.

The self-propelled segment is projected to dominate the floating production storage and offloading market, on the basis of propulsion, during the forecast period. Self-propelled FPSOs offer low transportation costs and require less time to transport crude oil and natural gas to consumers. This is projected to drive the growth of the floating production storage and offloading market during the forecast period.

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The double hull segment is projected to account for the largest share in the floating production storage & offloading market during the forecast period.

The double hull segment is projected to dominate the floating production storage and offloading market, on the basis of hull type, during the forecast period. Double hull FPSOs offer higher protection from marine pollution and water ingression than the single hull FPSOs. This factor is projected to drive the demand for double hull FPSOs in the floating production storage and offloading market during the forecast period.

The shallow water segment is projected to dominate the floating production storage & offloading market throughout the forecast period.

The shallow water segment is projected to dominate the floating production storage and offloading market during the forecast period. FPSOs used in shallow water is required to meet all the regulatory requirements and are cost-efficient, which is projected to drive their demand in the floating production storage and offloading market.

The Americas is projected to dominate the global floating production storage & offloading market during the forecast period.

Increasing focus on offshore exploration & production activities in deep- and ultra-deepwater is projected to drive the growth of the floating production storage and offloading market in the Americas. High demand for FPSOs in countries, such as Brazil and Mexico, is further projected to drive the growth of the floating production storage and offloading market.

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To offer an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players, such as Bumi Armada (Malaysia), Shell (Netherlands), BP (UK), ExxonMobil (US), Petrobras (Brazil), Chevron (US), MODEC (Japan), Teekay (Bermuda), SBM Offshore (Netherlands), and BW Offshore (Norway).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Heat Meter Market Expected to Witness the Highest Growth during 2018-2023

The global heat meter market is projected to reach USD 1,218.9 million by 2023 from an estimated USD 849.1 million in 2018, at a CAGR of 7.50%. This growth can be attributed to the increasing mandatory legislative requirement to install heat meters for accurate measurement of heat consumption.

The residential segment is expected to hold the largest share of heat meter market, by type, during the forecast period.

The residential segment is estimated to dominate the heat meter market in 2018 and is projected to have the largest market share during the forecast period. Increase in the number of residential dwellings across the globe year on year has made a positive impact on heat meter market during the forecast period. Residential spaces connected to district heating and cooling networks necessarily require heat meters as it is by far the best practice for generating energy bills based on consumption.

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The wireless connection segment is expected to be the fastest growing segment of the heat meter market, by connectivity, during the forecast period.

The wireless connection segment accounted for the highest CAGR during the forecast period. Growth of this segment can be attributed to the advancement in technologies, lower cost of installation and maintenance, higher reliability, and ease of use. Europe region is expected to witness a high growth in wireless connection segment during the forecast period because of the increased spending in connectivity technologies infrastructure.

Scope of the Report:

By Type

• Mechanical
• Static

By Connectivity

• Wired Connection
• Wireless Connection

By End-User

• Residential
• Commercial & Public
• Industrial

By Region

• Americas
• Asia Pacific
• Europe
• Middle East

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Asia Pacific: The leading market for heat meter

In this report, the heat meter market has been analyzed with respect to four regions, namely, Americas, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is estimated to dominate the global heat meter market in 2018 owing to the growth in district heating infrastructure, construction activities, rise in population, and climatic change. The demand for heat meters in Asia Pacific is growing, with about 5.5 million installations in China in 2017.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the heat meter market. Some of the key players Kamstrup (Denmark), Danfoss (Denmark), Siemens (Germany), Diehl (Germany). The leading players are adopting various strategies to increase their shares in the heat meter market.

Comprehensive Report on Variable Frequency Drive (VFD) Market Set to Witness Huge Growth by 2025

According to the new market research report "Variable Frequency Drive (VFD) Market by Type (AC, DC, and Servo), End-Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, and Conveyors), Power Range, Voltage, and Region – Global Forecast to 2025", published by MarketsandMarkets™, the global Variable Frequency Drive Market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, stagnant growth of the oil & gas industry and decrease in the exploration & production activity is hindering the growth of the Variable Frequency Drive Market.

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The low voltage segment is expected to hold the largest share of the Variable Frequency Drive Market, by voltage type, during the forecast period

The low voltage segment, by voltage, is estimated to account for the largest share during the forecast period. Low voltage variable frequency drives are used in a wide range of applications such as pumps, fan, belt conveyor, centrifugal pumps, and centrifugal compressors. Low voltage variable frequency drives are designed for industrial applications, especially in process industries such as pulp & paper, power, water & wastewater, and oil & gas. Thus, the growing use of low voltage drives in a wide range of applications is expected to boost the growth for this segment

Browse in-depth TOC on "Variable Frequency Drive Market"

104 – Tables
66 – Figures  
202 – Pages

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The low power drive segment, by power rating, is expected account for the largest share during the forecast period

The low power drive segment is expected to hold the largest market share and grow at a CAGR of 4.0% during the forecast period. Low power drives offer a quick payback period due to higher energy savings at low capital costs and better process control with increased motor control. Variable frequency drives with a 6–40 kW power range are used in different industries such as building, automation, oil & gas, food & beverage, and pulp & paper. Thus, the growing need for energy efficiency in these industries is expected to drive the growth of the segment.

Asia Pacific: The leading Variable Frequency Drive Market

The Asia Pacific region is projected to be the largest Variable Frequency Drive Market by 2025. Countries such as China, India, Japan, and South Korea are among the major countries considered as the main manufacturing hubs for variable frequency drives. Countries in Asia Pacific are focused towards energy efficiency and variable frequency drives are expected to play an important role in helping these countries to meet their energy efficiency targets, as the primary function of these drivers is to save energy. Thus, massive investments in the manufacturing industry are driving the growth of the Variable Frequency Drive Market in the Asia Pacific region

The growth in industrialization is driving a continuous need for electric motors, which consume one-third of the total electricity produced globally. Limited conventional power generation, coupled with a continuous rise in electricity prices, has encouraged companies to invest in energy-efficient equipment to increase energy efficiency. Energy-intensive industries such as oil & gas, metals & mining, pulp & paper, cement, and water & wastewater are using variable frequency drives to reduce energy consumption and CO2 emissions. Therefore, the increasing need for energy efficiency is expected to drive the growth of the variable frequency drives market.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Variable Frequency Drive Market. Some of the key players are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Danfoss (Denmark), Rockwell Automation (US). The leading players are adopting various strategies to increase their share in the Variable Frequency Drive Market.

Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

Browse Related Reports:

Europe VFDs Market by Application (Pump, Fan, Compressor, Conveyor, Extruder), Power Rating (0–0.5, 0.5–20, 20–50, 50–200, >200kW), Voltage (Low and Medium) And Countries (Germany, Russia, UK, France, Italy, Spain) - Global Forecast to 2024

https://www.marketsandmarkets.com/Market-Reports/europe-vfd-market-220609858.html

Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage (Up to 1 kV), Medium Voltage (Above 1 kV)), Application (Pump, Fan, Compressor, Propulsion / Thruster, Crane & Hoist) and Region - Global Forecast to 2024

https://www.marketsandmarkets.com/Market-Reports/marine-vfd-market-85395523.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
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