Static and Rotating Equipment (Oil and Gas) Market:U.S. Market to Benefit from Shale Gas Boom

Static and Rotating Equipment (Oil and Gas) Market: Snapshot

The global static and rotating equipment market is expected to witness a swift growth on account of the advancements in infrastructure in the oil and gas midstream sector. Moreover, new refineries are being constructed and existing ones are revamped, thus pushing the demand for these equipment further.

According to the expert panel of analysts at Transparency Market Research (TMR), the global static and rotating equipment market which stood at US$26.5 bn in 2013, is predicted to scale up to US$35.8 bn by 2022, exhibiting a 3.7% CAGR from 2014 to 2022. The production of oil from unconventional sources is expected to be one of the key factors behind the growth of this market during the forecast period.

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Oil and Gas Static Equipment to Lead in Market

On the basis of product, the global static and rotating equipment market is broadly classified into oil and gas static equipment and oil and gas rotating equipment. Static oil and gas equipment, which comprise boilers, heat exchangers, air cooled, valves, and shell and tube, is the leading segment, and accounted for 53.79% of the market in 2013. Valves are predicted to have the highest demand within the static equipment segment. Turbines, compressors, and pumps fall under the rotating equipment category.

The report provides a comprehensive overview of the global static and rotating equipment market. For the purpose of the study, the market has been sub-segmented into critical products that are widely deployed across the oil and gas industry.

The market for oil and gas static equipment comprises boilers, valves, furnaces, and heat exchangers. The oil and gas rotating equipment segment includes pumps, compressors, and turbines. Regionally, the global static and rotating equipment market is divided into Asia Pacific, North America, South and Central America, the Middle East and Africa, Europe, and Rest of South and Central America.

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Overview of the global static and rotating equipment market

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.

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.

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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.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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