Static and Rotating Equipment Market - Industry Analysis, Share, Forecast 2022
A new Transparency Market Research report states that the global
static and rotating equipment market stood at US$26.5 bn in 2013 and
is predicted to reach US$35.8 bn in 2022. It is expected to expand at
a sluggish CAGR of 3.70% from 2014 to 2022. The title of the report
is “Static and Rotating Equipment Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2022”.
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According to this report, the swift infrastructure advancement in the
oil and gas midstream sector is a major driver fuelling the global
market for static and rotating equipment. In addition, factors such
as the construction of new refineries and enhancement in the present
facilities are also amongst the prime factors fuelling the market.
Furthermore, oil production via unconventional sources is a key
technology having a positive impact on the static and rotating
equipment market. On the other hand, the hostile macroeconomic
outlook may impede the demand owing to great pricing pressure being
posed on the major manufacturers, thus restraining the growth of the
global static and rotating equipment market.
On the basis of product type, the market is segmented into oil and
gas static equipment and oil and gas rotating equipment. Oil and gas
static equipment is further segmented into valves, heat exchangers,
boilers, air cooled, and shell and tube. Oil and gas rotating
equipment is further segmented into compressors, pumps, and turbines.
Amongst these, oil and gas static equipment constituted a share of
52.79% in the market and within static equipment, the segment of
valves will experience the highest demand owing to unconventional
exploration and production activities globally.
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