Global Static and Rotating Equipment Market 2014 – 2022
According to a recent market study released by Transparency Market Research (TMR), the global static and rotating equipment market will be valued at US$35.8 bn in 2022, increasing from its valuation of US$26.5 bn in 2013, to display a modest 3.7% CAGR from 2014 to 2022.
In-depth research report on Static and Rotating Equipment Market with Full TOC at : http://www.transparencymarketresearch.com/oil-gas-static-rotating-equipment-market.html
The research report provides an in-depth analysis of the various factors that will have an impact on this market both positively and negatively for the forecast period. Static and rotating equipment is an integral part of the infrastructure needed for operations in oil and gas exploration activities. The report states that the growing use of new technologies for oil production from unconventional sources will be one of the major reasons driving demand for essential apparatus such as static and rotating equipment.
In the U.S., the shale gas boom has been the reason for large-scale commercial activities for utilizing natural gas trapped within shale formations. This has led to a consistently increasing demand for static and rotating equipment for exploration of these resources. Due to the proven economic and environmental benefits associated with natural gas for energy purposes, countries such as China and Argentina are likely to follow suit for utilization of shale.
In the Middle East and Asia Pacific, state-led initiatives for the development of robust infrastructure for LNG exploration, combined with large investments in the refining sector for fractional distillation of petroleum and natural gas to their optimal level, are benefitting this market.However, due to the recent drop in oil prices, companies involved in E&P (exploration and production) of oil and gas have cut expenditures for the said activities, which will in turn have an adverse impact on the static and rotating equipment market.
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The global market for static and rotating equipment is divided on the basis of product type and geography. Both static equipment and rotating equipment are sub-segmented into critical products that are widely used in the oil and gas sector. Whilst static equipment comprises boilers, heat exchangers, valves, and furnaces, rotating equipment comprises pumps, turbines, and compressors that are deployed in the oil and gas industry.
The report says that in the oil and gas industry, static and rotating equipment is often customized as per the requirement of specific operating units. For instance, reinjection compressors are suitable for product enhancement and artificial lifting. Hence, these compressors are increasingly utilized in underground storage facilities of natural gas.Gas turbines, particularly aero-derivative gas turbines, are utilized in both offshore and onshore oil and gas facilities for power generation purposes.
However, in 2013, static equipment held 52.79% of the global market. Amongst all static equipment, valves will exhibit strong demand, driven largely by unconventional E&P activities.
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The Global Market for Oil and Gas Rotating and Static Equipment Market has been segmented as follows:
Oil and Gas Static and Rotating Equipment Market: Product Type Analysis
Oil and Gas Static Equipment
- Shell and Tube
- Air Cooled
Oil and Gas Rotating Equipment
Oil and Gas Static and Rotating Equipment Market: Regional Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
Middle East and Africa
- GCC Countries
- Rest of Middle East and Africa
South and Central America
Rest of South and Central America
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for 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.
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