PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: Frost & Sullivan

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Offshore Oil & Gas Exploration and Growing Shipbuilding Sector to Boost Electrical Equipment for Marine and Offshore Infrastructure Markets in APAC - Offshore Oil & Gas Exploration and Growing Shipbuilding sector to Boost Electrical Equipment for Marine and Offshore Infrastructure Markets in APAC Finds Frost & Sullivan - Energy.Frost.com
Offshore Oil & Gas Exploration and Growing Shipbuilding Sector to Boost Electrical Equipment for Marine and Offshore Infrastructure Markets in APAC

 

NewswireToday - /newswire/ - Singapore, Singapore, 2013/09/25 - Offshore Oil & Gas Exploration and Growing Shipbuilding sector to Boost Electrical Equipment for Marine and Offshore Infrastructure Markets in APAC Finds Frost & Sullivan - Energy.Frost.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Government incentives for shipbuilding stoke market for electrical equipment

The Asia-Pacific market for electrical equipment for marine and offshore solutions has been concentrated in South Korea, Japan and Singapore. While South Korea and Singapore have been the hubs of the offshore structure building industry, Japan and South Korea are leaders in marine vessel manufacturing.

New analysis from Frost & Sullivan (energy.frost.com), Electrical Equipment and Solution for Marine and Offshore Markets in Asia-Pacific, finds that the market earned revenues of US$350.0 million in 2012 and estimates this to reach US$467.4 million in 2017. The main end-user segments are marine vessels and offshore structures.

"The shipbuilding industry had experienced a slump in demand for ships due to oversupply and financial constraints among shipbuilders," said Frost & Sullivan Energy & Environmental Senior Research Analyst Avanthika Satheesh P. "However, the electrical equipment market is likely to grow with the rising demand for ship maintenance and increasing offshore oil exploration."

The depletion of onshore fields has spawned offshore explorations, and the recent trend of converting existing liquid nitrogen gas (LNG) carriers into offshore structures such as floating production storage offloading (FPSO) provides a huge boost to the electrical equipment market.

The market will also benefit greatly from the incentives offered by governments in countries such as Malaysia and the Philippines. They offer tax holidays and tax rebates on the equipment used in the shipbuilding sector, which is a significant revenue driver for electrical equipment manufacturers.

"In Indonesia and Malaysia, the government gives high priority to 'local content value' in oil & gas projects," noted Satheesh. "They mandate the installation of equipment that is manufactured in the country, giving an opportunity to regional manufacturers to increase their presence in offshore projects."

The shipbuilding industry too has regulations to ensure high-quality production. The high technical specifications of the shipbuilding sector compel the installation of electrical distribution products that are compliant with various standards such as National Electrical Manufacturers Association (NEMA) and American National Standards Institute (ANSI).

However, not many OEMs are capable of adhering to these standards and the shipbuilders end up procuring the products from European countries such as Belgium and Norway.

Shipbuilders and oil companies maintain a master list of vendors that are most preferred during project procurements. The market will have abundant opportunities for regional participants that strive to gain entry into that list by complying with the customers' technical and commercial terms and conditions.

If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Electrical Equipment and Solution for Marine and Offshore Markets in Asia-Pacific is part of the Energy & Power Growth Partnership Service program. Frost & Sullivan's related research services include: North American Electrical Equipment Market for Oil and Gas and Asia-Pacific Electrical Equipment and Solutions Market for Oil and Gas. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on "the next big thing" | Register: Gain access to visionary innovation

Electrical Equipment and Solution for Marine and Offshore Markets in Asia-Pacific / P733-14

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Frost & Sullivan

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Offshore Oil & Gas Exploration and Growing Shipbuilding Sector to Boost Electrical Equipment for Marine and Offshore Infrastructure Markets in APAC

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Donna Jeremiah / Carrie Low 
+61(2) 8247 8927 / +603 6204 5910 djeremiah[.]frost.com / carrie.low[.]frost.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Frost & Sullivan securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Frost & Sullivan / Company Profile


Read Energy Most Recent Related Newswires:

Clarke Energy Chosen by APA to Supply GE’s Gas Engine Technology to Gruyere Gold Australian Mining Project
Invenergy and GE Renewable Energy Announce America’s Largest Wind Farm
Enel Awarded 339 MW of Solar Capacity in Spanish Renewables Tender
Enel Starts Operations of Cristalândia Wind Farm in Brazil
PJB Spearheads Digital Energy for Indonesia with Deployment of GE Digital Power Plant Software
GE and Maersk Drilling Accelerate their Digital Partnership to Drive Industry Transformation
GE to Provide Digitally-enabled HA Power Plant and Services for Mexico's Tierra Mojada Project
Cisco and Enel Sign Agreement on Digitisation and Innovative Services
Enel and Seedstars Sign Cooperation Agreement to Identify Innovative Energy Access Startups in Africa
ENGIE Launches its First Ephemeral Campus
Enel Signs Agreement with US Company Amber Kinetics on Innovative Flywheel Storage System
Alternative Fuels, Carrefour and ENGIE are Joining Forces to Develop Biomethane in France
GE Renewable Energy and Fortum Sverige AB Sign Digital Hydro Pilot Agreement
GE Renewable Energy Announces Agreement to Provide Cube Hydro with Aerating Turbines
GE Oil & Gas and Eni East Africa Sign Long-term Partnership to Develop Gas Resources Offshore of Mozambique

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  MagLar, Inc.

Visit  NAKIVO, Inc.





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)