Published: May, 2017
According to a new report from Transparency Market Research (TMR), the global oil and gas static and rotating equipment market is fairly fragmented and features a number of companies with prominent clout. The leading players in the oil and gas static and rotating equipment market include Siemens AG, Alfa Laval AB, General Electric Company, Technip SA, Sulzer Limited, Doosan Group, Pentair plc, Mitsubishi Heavy Industries Limited, FMC Technologies Inc., Atlas Copco AB, OAO TMK, Flowserve Corporation, Metso Oyj, and Wartsila. Rising pricing pressure has been the primary feature of the competitive landscape of the global oil and gas static and rotating equipment market in recent years, and is likely to be determinant in the future development of the market.
TMR estimates the global oil and gas static and rotating equipment market to reach a valuation of US$35.8 bn by 2022.
Valves Set to Lead Static and Rotating Equipment Market
The oil and gas static equipment market can be segmented into valves, boilers, air cooled equipment, shell and tube, and heat exchangers. Due to their need across the operating chain in the oil and gas industry, valves are the dominant segment of the global oil and gas static and rotating equipment market. Due to the steady expansion of the petrochemicals sector, valves are likely to account for a leading share in the global oil and gas static and rotating equipment market through the forecast period. The static equipment segment is also likely to retain the majority share in the global oil and gas static and rotating equipment market in the coming years.
North America is the prime regional segment of the global static and rotating equipment market due to the strong establishment of the oil and gas industry in the region. The continued growth of the petroleum and petrochemicals sector in the U.S. is likely to ensure steady demand from the oil and gas static and rotating equipment market in the coming years.
The consistent growth of the shale gas market has been vital for the global oil and gas static and rotating equipment market in the last few years. As conventional petroleum resources start to dry out, the rising need for unconventional petroleum extraction methods has led to the establishment of strong shale gas markets in the U.S. as well as in developing countries such as China and Argentina. As a result, emerging regions such as Asia Pacific and Latin America are likely to play a key role in the growth of the global oil and gas static and rotating equipment market in the coming years.
Booming Petrochemicals Sector in APAC, Middle East Vital for Static and Rotating Equipment Market
The rise of the petrochemicals sector in emerging regions such as Asia Pacific is likely to be heavily influential in the future trajectory of the global oil and gas static and rotating equipment market. Dynamic economies such as China and India are likely to become key players in the global petrochemicals sector in the coming years, due to the steady government support being provided for technological improvement. This has led to strong growth prospects for the region’s oil and gas static and rotating equipment market.
Demand for oil and gas static and rotating equipment from the Middle East is also expected to comprise a significant share of the global market in the coming years, as the region is a traditional powerhouse in the petroleum sector and could become a major player in the petrochemicals sector due to ready availability of the end product and technology.
On the other hand, the decline in conventional exploration and extraction activities in the petroleum sector could affect the global oil and gas static and rotating equipment market adversely in the coming years. However, this restraint could be compensated by the rise of the shale gas market, which has provided the oil and gas static and rotating equipment market with a steady sales outlet.
The information in this preview comes from a TMR report titled ‘Static and Rotating Equipment (Oil and Gas) Market by Static Equipment (Valves, Boilers, Furnaces, and Heat Exchangers [Shell and Tube, Air Cooled]) and Rotating Equipment (Compressors, Turbines, and Pumps) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2022.’
The global oil and gas 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
- Heat Exchangers
- Shell and Tube
- Air Cooled
- Oil and Gas Rotating Equipment
Oil and Gas Static and Rotating Equipment Market: Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- 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
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