- Midstream is defined as a term used to describe one of the three major stages of operations in the oil & gas industry. Midstream oil & gas industry activities include the processing, storing, transporting, and marketing of crude oil, natural gas, and natural gas liquids.
- The midstream oil & gas industry is involved in storage, transportation and wholesale marketing of crude oil from production sites to refineries. It also engages in the distribution of several refined products to respective downstream industries such as fuel retail outlets, chemical, and petrochemical industries
- The midstream oil & gas equipment includes all the resources and equipment that are used in processing, storage, and distribution operations; for instance, fluid compressors, oil pipelines, fractionating and dehydration tanks, and LNG & LPG storage tanks and plants.
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Key Drivers of Midstream Oil & Gas Equipment Market
- Rise in unconventional oil & gas production across the globe is expected to boost demand for midstream oil & gas equipment during the forecast period. According to The World Energy Council, the U.S. has 1,161 trillion cubic feet of technically recoverable unconventional gas. China has 1,115 trillion cubic feet of unconventional gas. The U.S. was the leading country in production of unconventional gas in 2018. Its annual production of unconventional gas stood at 22 trillion cubic feet. China’s production output stood at 10 trillion cubic feet in the same year/
- Rise in discovery of oil & gas fields is also expected to the boost the midstream oil & gas equipment market during the forecast period. About 140 discoveries were made in 2018. The total estimate for discovered resources stood at around 9 billion barrels of oil equivalent in 2018. It was 10 billion barrels of oil equivalent in 2017. Offshore discoveries were prominent with 60% share, while gas resources accounted for about 40% share.
- Government support in the form of initiatives and investments in the oil & gas sector has led to significant opportunities to manufacturers operating in the oil & gas industry, which in turn is projected to boost the demand for midstream oil & gas equipment during the forecast period.
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Key developments and Policies
- In April 2020, EBARA Corporation’s (EBARA) overseas group company, Ebara Vietnam Pump Company Limited (EVPC), announced that in order to meet high product standards required in the market in Japan, the company has passed JIS Mark*2 certification reviews by Japan Quality Assurance Organization (JQA) on casting and is presently accredited with “JIS G 5121” and “JIS G 5502 certification.
- In January 2020, Tenaris S.A. announced that the completion of acquisition of IPSCO Tubulars, Inc., a U.S.-based manufacturer of steel pipe, from PAO TMK. It also announced that the acquisition was a made for a sum of US$ 1,067 Mn. The acquisition is likely to enhance the U.S. manufacturing capacity of Tenaris S.A.
Regional Analysis of Midstream Oil & Gas Equipment Market
- Based on region, the global midstream oil & gas equipment market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold a considerable share of the global midstream oil & gas equipment market during the forecast period. The region is anticipated to maintain its dominant share in the near future, especially in China and India, on the back of growing environmental concerns and increased energy consumption. Furthermore, innovations in the oil & gas market are projected to provide an economical way to transport hydrocarbons in Asia Pacific, which in turn is estimated to drive the market in the region.
- North America is also an important region of the global midstream oil & gas equipment market. The market in North America is expected to expand significantly during the forecast period, owing to the presence of a considerably high number of refineries in the U.S. with several export services. Additionally, the region has its own large oil & gas reserves, which eventually generate numerous opportunities for processing in the field areas, which is further expected to propel the market in the next few years.
Key players in market:
Key players operating in the global midstream oil & gas equipment market include:
- Ebara Corporation
- Ariel Corporation
- EVRAZ plc
- General Electric
- Exterran Corporation
- Trinity Industries Inc.
- Flowserve Corporation
- Sulzer Ltd
Global Midstream Oil & Gas Equipment Market: Research Scope
Global Midstream Oil & Gas Equipment Market, by Type
- Rail Tank Cars
- Gas Processing Equipment.
- Storage Tanks
- Valves & Compressors
Global Midstream Oil & Gas Equipment Market, by Application
- Natural Gas Processing Plants
- LNG / LPG Facilities
- Crude by Rail
- Other Midstream Applications
Global Midstream Oil & Gas Equipment Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.