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Building of FPSO and Drilling Rigs to Benefit China Ocean Engineering Equipment Industry

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Published on : Sep 06, 2016

ALBANY, New York, September 06, 2016: A new market research report, titled “China Ocean Engineering Equipment Industry Overview, 2016-2020,” is now featured on ResearchMoz.us. The report analyzes the market dynamics including drivers, restrains, opportunities, and trends in the market. It also evaluates the export status and supply and demand of ocean engineering equipment in China. The report assesses top five players operating in the market and also discusses the expansion strategies adopted by them. Key segments in the market have also been studied in detail and the leading and declining segments are discussed. Tables, graphs, and charts have been used wherever required. 

The Chinese ocean engineering market is progressing rapidly with the successful building of multi-type FPSO, drilling rigs, and construction of overseas 6G semi-submersible drilling rigs. Ocean engineering equipment are applied in ocean resource exploration, processing, exploitation, transportation, storage, logistics, and management, thus driving the market. Of these, the most essential part of ocean engineering equipment is expected to be the exploitation equipment for ocean oil and gas resources. Analysts have observed that players in the China ocean engineering equipment market generally manufacture low-end products and earn profit from the processing business. 

According to the report, it is estimated that global capital expenses of FPS will increase from US$80 bn to US$100 bn from 2016 to 2020. The demand is chiefly expected to come from key manufacturers of deep water petroleum in Brazil, Angola, the U.S.A, and Nigeria. 

Click here to get more info with TOC in a PDF Format: https://www.researchmoz.us/enquiry.php?type=S&repid=791769

The output volume of crude oil and natural gas increased to 214.56 mn tons and 134.61 bn cubic meters respectively in 2015. Thus, the importance of ocean engineering equipment is increasing as these equipment are used as a platform and an important tool for obtaining maritime resources. 

The ocean engineering equipment market is segmented on the basis of type into offshore oil and gas development equipment, maritime floating body structure, and other maritime resource development equipment. Of these, offshore oil and gas development equipment comprises various drilling platforms, production platforms, oil storage ships, offloading vessels, floating cranes, and diving boats.

Companies such as Dalian Shipyard and Shanghai Waigaoqiao have undertaken the work of building new FPSO and semi-submersible drilling ships. On the other hand Offshore Oil Engineering Co., Ltd., a company owned by China National Offshore Oil Corporation, accounts for over 80% of the domestic ocean engineering in China. Analysts have observed that in 2015, the market concentration of top five ocean engineering manufacturers reached about 90% in China. The number of export orders is expected to grow significantly in the ocean engineering equipment manufacturing industry with the development of newer technologies, thus, driving the market. 

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