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European Power Conversion Market in Oil and Gas Industry

  • October 2013
  • 121 pages
  • Frost & Sullivan
Report ID: 1863205

Summary

Table of Contents

Increasing Demand for the Customised Power Conversion Solutions Expected to Boost the Market

This research service analyses the power conversion market in the European oil and gas industry. The research service includes market engineering measurements, market drivers and restraints, an overview of the product segment breakdown in the oil and gas industry, as well as a regional breakdown of Europe. Furthermore, a competitive landscape of the leading power conversion market suppliers in the oil and gas sector, revenue forecasts, and technological trends are discussed. Three big predictions of the study have also been provided. The base year is 2012 and the study period is from 2009 to 2017.

Executive Summary

• The total power conversion market in the oil and gas industry generated revenue of $X million in 2012. It is expected to have a compound annual growth rate (CAGR) of X% between 2012 and 2017.
• The key drivers for the adoption of power conversion products in the oil and gas industry are rising energy costs, increased demand for the customised power conversion systems for critical applications, high deterioration level of electric drives and motors, and exploration of new oil and gas fields in Europe.
• The main factors restraining the power conversion market in the European oil and gas sector include economic crisis in Europe, depletion of the European oil and gas wells, and price pressure on the market.
• The major product segment of the market in the oil and gas industry is electric motors, which accounted for X% of the total market in 2012.
• The oil and gas industry in Europe is expected to grow through price increases for natural resources, boosting demand for oil and gas. Oil and gas companies are working on the improvement of the extraction process optimisation, therefore, increased adoption of advanced electric drives is expected during the forecast period.
• Scandinavia and the United Kingdom (UK) are the key countries in adapting power conversion products in the oil and gas industry and have accounted for $X million in 2012. Besides, Eastern Europe provides considerable growth potential for the power conversion market due to the growing number of the oil and gas deposits compared to the other countries.

CEO’s Perspective

1. The increased demand for efficient electric drives will be driven by the significant growth of energy costs in Europe.
2. New oil and gas projects are likely to propel the market because of the increased utilisation of advanced drives and motors.
3. Power conversion market is suffering due to the economic crisis with decreased installation of drives and motors.
4. Depletion of the European oil and gas resources can affect the adoption of electric drives and motors in the future.
5. Power conversion suppliers need to customise their products to suit critical applications for oil and gas activities.

Research Objectives and Scope

• The aim of this research service is to examine the power conversion market at the regional level in the European oil and gas industry.
• The scope of the research includes the analysis of the market drivers, restraints, market trends, revenue that includes 5-year forecasts, and competitive landscape.
• This research service has been created for growth-seeking market participants to assist them in the process of creating short- and long-term strategies on the power conversion market in the oil and gas sector in Europe.
• The research analyses market trends and it identifies growth opportunities to promote sustainable development and competitiveness for electric drives and motors suppliers in Europe.

Key Questions This Study Will Answer

Is the power conversion market in the oil and gas industry growing, how long will it continue to grow, and at what rate?
What are the main factors that will drive the power conversion market in the oil and gas sector in the future?
Are the electric drives and electric motors meeting customer needs, or is additional development needed?
What challenges does the power conversion market encounter in the European oil and gas industry?
What is the state of the competitive landscape in the power conversion market in the oil and gas industry?
How will the demand for the power conversion market change during the forecast period?

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