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FULL SPEED AHEAD FOR ANTI-SHIP MISSILE MARKET
Sep 13, 2017
AIRCRAFT CARRIERS MARK GROWTH OF REGIONAL NAVIES
Sep 12, 2017
TWO SHIP COLLISIONS RAISE QUESTIONS
Aug 24, 2017
RISING TENSIONS IN THE KOREAN PENINSULA HIGHLIGHT THAAD MISSILE'S KEY ROLE
Aug 10, 2017
FORECAST INTERNATIONAL LAUNCHES IMPROVED U.S. DEFENSE BUDGET DATABASE
Aug 08, 2017
FORECAST INTERNATIONAL: BOEING ON A ROLL; BOTH CIVIL AND MILITARY MARKETS REMAIN STRONG
Aug 01, 2017
DEFENSE FIRMS SEE STRONG GROWTH POTENTIAL AS UPSWING BEGINS
Jul 18, 2017
COMMERCIAL COMSAT MAKERS CASHING IN ON HOT MARKET
Jul 12, 2017
FORECAST INTERNATIONAL: 15-YEAR WORLD AVIATION TURBOSHAFT MARKET WORTH $34 BILLION
Jun 20, 2017
FORECAST INTERNATIONAL PREDICTS $4.15 TRILLION LARGE JETLINER MARKET OVER 15 YEARS
Jun 19, 2017
FOLLOWING U.S. ATTACK ON SYRIAN AIR BASE, FI OFFERING DETAILED TOMAHAWK CRUISE MISSILE REPORT
Apr 07, 2017
POLITICS TO AFFECT SHAPE OF U.S. DEFENSE ELECTRONICS MARKET
Mar 28, 2017
FORECAST INTERNATIONAL: HIGHER DEFENSE BUDGETS LIKELY TO GIVE MEDIUM/HEAVY MILITARY ROTORCRAFT MARKET A LIFT
Mar 07, 2017
FORECAST INTERNATIONAL ISSUES 'LAUNCH VEHICLES: YEAR IN REVIEW 2016.' STAGE SET FOR RENEWED ACTIVITY IN 2017
Jan 30, 2017
FPSO CONSTRUCTION POWERING MECHANICAL DRIVE MARKET
Dec 13, 2016
ROLLS-ROYCE RULES THE NAVAL GAS TURBINE MARKET
Dec 12, 2016
FORECAST INTERNATIONAL RELEASES VERSION 3.1 OF ITS PLATINUM FORECAST SYSTEM
Dec 07, 2016
BUSINESS JET MARKET TO RESUME POSITIVE GROWTH TREND
Oct 31, 2016
SHORT-TERM GROWTH PROJECTED FOR LIGHT MILITARY ROTORCRAFT MARKET AIRBUS HELICOPTERS TO LEAD MARKET
Oct 13, 2016
FORECAST INTERNATIONAL PREDICTS A WORLD MARKET FOR 5,480 INDUSTRIAL POWER GENERATING GAS TURBINE ENGINES WORTH $105 BILLION OVER THE NEXT 10 YEARS
Oct 05, 2016
REGIONAL AIRCRAFT MARKET STABILIZING; LONG-TERM GROWTH PROJECTED
Sep 23, 2016

Press Release

Contact: Stuart Slade, I&M Analyst
Phone: (203) 426-0800
Fax: (203) 426-4262
Website: www.forecastinternational.com
E-mail: stu.slade@forecast1.com
Forecast International, Inc.
22 Commerce Rd. Newtown, CT 06470 USA

FOR IMMEDIATE RELEASE

FPSO Construction Powering Mechanical Drive Market

NEWTOWN, Conn. [December 13, 2016] - The market for gas turbines in the worldwide oil and gas industry will see significant expansion thanks to rapid growth in demand for floating production, storage, and offloading (FPSO) vessels used in offshore oil and gas exploitation projects, according to data generated by Forecast International's Platinum Forecast System® version 3.1.

Forecast International is projecting the sales value of mechanical drive industrial gas turbines delivered between 2016 and 2030 to total $27.8 billion. Approximately 4,220 turbines will be sold during this period, with a per-unit price of $6.5 million. These gas turbines will be used for pipeline compression and pumping, and in LNG applications, as well as in refineries and in the chemical and petrochemical industries.

"Gas turbines used as compressors or pump drives meet the requirements for reliability, availability, efficiency, and environmental compatibility, providing low life-cycle costs and the best possible return on investment," said Stuart Slade, Forecast International's senior Industrial and Marine gas turbine analyst.

Increasing use of natural gas as fuel for industrial applications is also accelerating demand for mechanical drive gas turbines, according to Slade. "The share of the market held by natural gas will grow to over 19 percent in 2017, to over 21 percent by 2020, and to 23.5 percent by 2025," said Slade. "As a result, gas turbines are now the drivers of choice for the oil and gas industry, particularly the LNG industry."

Slade believes that the annual production of gas turbine machines for mechanical drive duty will increase steadily through the coming decade. This projection is predicated on the enormous worldwide potential for oil and gas production and transport. "The market for the machines will be driven by new, large-scale, high-capacity pipeline and FPSO construction," said Slade. "So expect to see continued demand for these high-powered aeroderivative machines."

Production is expected to reach a high of 295 units in 2025, before leveling off slightly in the out-years. In terms of value of production, Solar Turbines will lead the field, with a 37.4 percent share, followed by Siemens (23.2 percent) and GE Energy (20.7 percent).

Slade points out that the dynamic growth of the oil and gas industry, especially LNG, has resulted in the use of very complex and high-technology mechanical drive turbomachinery for pumping, compressor, and refrigeration service. Expansion of the the oil and gas segment is forecast to reach a 12 percent industry growth rate by the end of the decade. Slade cautions, however, that increased mechanical drive capacity will not be reflected by parallel growth in the number of machines procured, since power output per turbine is increasing faster than the aggregate demand for added power.

 


Contact Information
Ray Peterson
Vice President, Research & Editorial Services
Forecast International
22 Commerce Rd. Newtown, CT 06470 USA
(203) 426-0800
ray.peterson@forecast1.com.



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