The downstream, midstream, and upstream operations in the oil and gas industry depends upon the quality and reliability of static and rotating equipment. Hence, these machines form an important part of oil and gas infrastructure. However, due to the recent drop in the global oil prices, expenditure on exploration and production activities is likely to reduce, which will have a negative impact on the demand for these equipment.
The global static and rotating equipment market, which stood at US$26.5 bn in 2013, is anticipated to reach US$35.8 bn by the end of 2022. The market will therefore exhibit a slow yet positive CAGR of 3.70% between 2014 and 2022. Static and rotating equipment are manufactured by OEMs around the world, who also supply the same to E&P companies either directly or through EPC contractors. The sluggish demand witnessed by the global static and rotating equipment market is primarily due to the hostile macroeconomics outlook, which further translates into pricing pressures upon manufacturers. With an increasing number of manufacturers seeking to differentiate their products amidst cut-throat competition, a greater focus is on innovative brand identification strategies and improving the product quality. The launch of new technologies allowing the production of oil from unconventional sources is also expected to amplify the demand for static and rotating equipment in the market. Among the key regional segments, North America held the largest share in the overall market in 2013. The region is also expected to retain its position as the market leader through the forecast period. The reopening of E&P activities in the Gulf of Mexico, new oil sand projects in Canada, and privatization of the hydrocarbon sector in Mexico are the primary factors boosting the static and rotating equipment market in North America. In Europe, however, the market will exhibit sluggish growth due to the high cost of the raw materials. Asia Pacific countries are anticipated to invest in strengthening its downstream sector, while further upgrades are expected in Russian refineries. Thus, these emerging regions will also prove to be lucrative markets for static and rotating equipment manufacturers. Get accurate market forecast and analysis on the Static and Rotating Equipment market. Request a sample to stay abreast on the key trends impacting this market. http://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=3060 Companies mentioned in the research report Companies studied in the report include Sulzer Limited, Metso Oyj, Alfa Laval AB, Siemens AG, FMC Technologies Inc., Pentair plc, General Electric Company, Flowserve Corporation, Atlas Copco AB, Technip SA, Tenaris SA, Mitsubishi Heavy Industries Ltd., Doosan Group, OAO TMK, and Wärtsilä. Oil and Gas Static and Rotating Equipment Market: Product Type Analysis Oil and Gas Static Equipment Valves Boilers
Heat Exchangers Shell and Tube Air Cooled Oil and Gas Rotating Equipment Compressors Turbines Pumps Oil and Gas Static and Rotating Equipment Market: Regional Analysis North America U.S. Rest of North America Europe Norway U.K. Rest of Europe Asia Pacific China Australia Rest of Asia Pacific Middle East and Africa GCC Countries Nigeria Algeria Rest of Middle East and Africa South and Central America Brazil Rest of South and Central America