Leading market intelligence firm, Transparency Market Research (TMR), has released a new market study on the global oil and gas static and rotating equipment market. The report describes the drivers and restraints affecting the growth trajectory of the market, its key regional segments, and the major players operating in it. The complete review of the static and rotating equipment market’s performance given in the report will help readers figure out the best strategies to expand their market presence. The report, titled ‘Static and Rotating Equipment (Oil and Gas) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2022,’ is available for sale on TMR’s website.
Static and rotating equipment comprise a crucial part of the upstream as well as downstream value chain of the global oil and gas market. The reliability of the various processes in the oil and gas industry depends entirely upon the performance of static and rotating equipment, which makes the market for the same a crucial ancillary market of the oil and gas industry.
According to the TMR report, the global market for static and rotating equipment in the oil and gas industry was valued at US$26.5 bn in 2013. The market is set to experience mixed fortunes in the coming years, with a 3.7% CAGR from 2014 to 2022 expected to propel the market to a valuation of US$35.8 bn by 2022.
The primary driver for the global static and rotating equipment market is the increasing demand for unconventional means of oil and gas extraction. The falling reservoirs of onshore petroleum have forced oil and gas players to look elsewhere to keep up their high production levels. This has led them to shale gas exploration as a promising means of extracting petroleum. The increasing demand for shale gas exploration is likely to drive the demand for static and rotating equipment from the oil and gas industry in the coming years.
The increasing exploration of offshore petroleum reserves is also leading to the construction of new refineries and capacity expansion of existing ones. This has also driven the demand for static and rotating equipment in the last few years.
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Static equipment led the global oil and gas static and rotating equipment market in 2013, accounting for 52.8% of the market. Of the various types of static equipment in the global market, valves are expected to witness increasing demand in the coming years.
Regionally, the U.S. is a major market for shale gas exploration and production. Other national markets such as China and Argentina are expected to increase their commitment to shale gas production in the coming years, driving the static and rotating equipment market in these regions. Canada and the Gulf of Mexico have also emerged as promising locations for oil sands production and offshore production, respectively, driving the North America market for static and rotating equipment.
The report profiles major players in the global static and rotating equipment market to provide a complete overview of the competitive dynamics of the market. Major players studied in the report include Alfa Laval AB, Sulzer Limited, FMC Technologies Inc., Atlas Copco AB, GE, Siemens AG, Mitsubishi Heavy Industries Ltd., Tenaris SA, Pentair plc, Technip SA, and Doosan Group.
The global static and rotating equipment market is segmented as follows:
Oil and Gas Static and Rotating Equipment Market: Product Type Analysis
Oil and Gas Static Equipment
- Valves
- Boilers
- Heat Exchangers
Oil and Gas Rotating Equipment
- Compressors
- Turbines
- Pumps
Oil and Gas Static and Rotating Equipment Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- South and Central America
- Middle East and Africa
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