REPORT DESCRIPTION
Global Single Point Anchor Reservoir Market : Overview
Single point anchor reservoir ( SPAR ) refers to a certain type of offshore oil platform that provides a base to extract and process oil in ultra-deep water regions . With rising global population and rapid urbanization , the demand for energy is constantly increasing , which is urging the operators of oil and gas to move beyond onshore resources and explore offshore opportunities . Consequently , the demand in the global single point reservoir market is expected to expand at a healthy growth rate during the forecast period of 2016 to 2024 .
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This report on global single point anchor reservoir market is an all-inclusive analysis of the market in its current scenario , and based on the factors that are anticipated to influence the demand , it presents estimations of the future until 2024 . The report also features a section on company profiles , wherein a number of prominent players have been analyzed for their market share , basic details , and recent strategic developments . The global market for single point anchor reservoir can be segmented on the basis of product , into cell , classic , and truss SPAR . Geographically , the report explores the opportunities available in the regions of Asia Pacific , North America , Europe , and Rest of the World .
Global Single Point Anchor Reservoir Market : Trends & Opportunities
Consistently increasing demand for natural gas and crude oil is the primary driver of this market , and will remain prominent for the entire duration of the forecast period . Although there are currently very few SPAR platform across the world , their evident benefits are being noticed by the operators and consequently , preference is shifting past conventional oil extraction platforms constructed on the sea or ocean beds . The benefits of SPAR includes excellent deep draft design , which provides robust resistance against wind and waves , enclosed cylinder that acts as a protective barrier for equipment and risers , and hull , which helps in storing the produced oil and gas . The report also expects the rapid industrialization across the emerging economies to extend the demand for fossil fuels , which in turn will reflect positively on global single point anchor reservoir market . Conversely , factors such as depleting hydrocarbon reserves and stringent regulations against environmental hazards , are