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Prime Movers in the European Middle Eastern African and Former Soviet Union Oil and Gas Markets
Frost & Sullivan, Aug 2005
Burgeoning Oil Prices Drive Growth in the Prime Movers’ Markets in EMEA and FSU Regions
High oil prices prevalent in Europe, the Middle East and Africa (EMEA) and the former Soviet Union (FSU) have been instrumental in propelling the markets for prime movers in the oil and gas industries into a growing phase, a trend likely to continue during 2004-2011. The swelling oil prices remain immune to efforts of the organization of the petroleum exporting countries (OPEC) to increase production. With oil presently costing more than $50.0 per barrel, major petroleum companies are capitalizing on this situation to maximise their revenues. For instance, participants in the oil and gas markets in the Middle East are likely to invest heavily in expanding their production in the next five years and the major portion of this funding process could be carried out over the next 18 months.
This Frost & Sullivan research service provides an overview of and an outlook for prime movers in the EMEA and FSU, detailing revenue forecasts by region and providing market share analyses. It analyses the markets for prime movers for both mechanical drive and power generation applications including gas turbines, steam turbines and reciprocating engines. It further looks into the threat arising from electric motors and its impact on these devices on a technology-to-technology basis.
Growth in Floating, Production, Storage And Offloading Systems (FPSOs) Set to Boost Demand for Prime Movers in Africa
While undeniably, opportunities for greater sales of prime movers exist in EMEA, there is a high degree of variation in the long-term market trends in this region, explains the analyst of this research service. With ample support coming from the expansion of FPSOs, especially off the West coast, the sales of prime movers in Africa are set to grow strongly in future. In the Middle East, the influx of huge investments from major oil and gas companies keen on capitalizing on the high oil prices indicates excellent growth prospects.
In contrast, the prevailing uncertainties in Russia could hamper the sales of prime movers in the near future. However, the country’s huge oil and gas reserves are likely to ensure that the markets’ long-term potential receives ample justice. Prime movers enterprises in Europe should also focus on the transportation as well as exploration and production segments to realize greater revenues faster. This is particularly crucial as the relative saturation in the oil and gas fields is expected to result in a decrease in need for these equipment between 2004 and 2011.
Providing Customer-oriented Services Likely to Prove Instrumental in Gaining Market Share
To succeed in the prime movers markets, enterprises need to take advantage of opportunities that come with the high oil prices. Realising this will enable companies to survive the onslaught of competitors offering greater value to their customers through schemes such as long-term service agreements (LTSAs). Largely, companies have realized that providing maintenance-related services and upgrades that focus on increasing output, performance and the equipment lifetimes are likely to bring in long-term revenues much higher than those obtained through initial equipment sales do.
Economically, the high oil prices prevalent in the region are responsible for boosting investments in exploration as well as production of oil and natural gas, as prominent petrochemical companies are focusing on replenishing their upstream reserves while continuing to record profits, says the analyst. To this end, these large oil and gas enterprises are striving to replace their existing reserves to maintain steady revenue flow.
Benefits of this Service
- Track the history of gas turbine, steam turbine and reciprocating evolution
- Compare the impact of competing technologies on prime mover technology
- Find out about the future demand for gas turbines, steam turbines and reciprocating engines
- Track ongoing research in gas and steam turbine technologies
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Gas Turbine
- Steam Turbines
- Reciprocating Engines
Technologies
The following technologies are covered in this research:
- Gas Turbine
- Steam Turbines
- Reciprocating Engines
What's Included
- Expected demand for gas turbines, steam turbines, reciprocating engines
- Key drivers and restraints in the market
- Factors that are likely to influence the technologies in the coming years (ranging from user preferences to the various policies and measures that are expected to influence turbine and engine technology)
- Ongoing research on turbine technologies and legislative trends
- Recent market launches
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