COVID-19 impact on Rotating Machine Market for Biofuel
- The COVID-19 outbreak is hampering the rotating machine demand in many applications. To curb the spread of coronavirus, many governments across the globe enforced lockdown measures. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown, which are hampering the demand for rotating machine.
- Key players operating in the rotating machine market for biofuel are primarily tier i and tier ii manufacturers and suppliers. Manufacture and supply chain facilities of these players have spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID 19 pandemic.
- The COVID-19 outbreak has directly affected the production and demand for rotating machines. The industrial shutdown caused by the COVID-19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
Key Drivers of Rotating Machine Market for Biofuel
- The rotating machine market for biofuel is driven by factors such as low raw material costs, low production costs, and raw material availability. Alternative hydrogen production technologies are also more expensive in comparison, and entail less production cost as compared to green hydrogen.
- Rise in usage of rotating machine in refining applications is expected to boost the market during the forecast period. Chemicals and mining sectors continue to use rotating machines. Mining sector growth can be a major driver of the rotating machine market for biofuel. During the projected period, increased investment and demand for hydrogen produced from coal gasification with carbon capture storage technology is expected to provide attractive market possibilities. Rise in demand for clean and efficient energy sources is likely to drive the global rotating machines for the biofuel market during the forecast period.
Restraints of Rotating Machine Market for Biofuel
- Compressors, fans, and gas heaters are examples of rotating machines that have high maintenance costs, as well as they need fuel and skilled labor, which adds to the overall cost of operation. Furthermore, transporting these machines to the plant location is a time-consuming process. During the review period, these factors are expected to restrain the global market. High cost over its conventional counterpart is also hampering the market. In addition, availability of substitutes is adversely affecting the market
Asia Pacific to Constitute Significant Share of Global Rotating Machine Market for Biofuel
- In terms of region, the global Rotating Machine market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to dominate the global rotating machine market for biofuel during the forecast period; Rotating machine production for biofuels is dominated by Asia Pacific. It is one of the most important regional markets for rotating biofuel machines. Because of the region's growing population and rising per capita disposable income, there is an increased demand for energy. Furthermore, Asia Pacific is expected to experience significant growth due to the region's abundant natural resources, which currently contribute more than 60% of oil revenues; among them are large petroleum reserves.
- North America is the second-largest consumer of rotating machine, with the U.S. leading the way in terms of production and consumption
Competitive Landscape of Global Rotating Machine Market for Biofuel
Major players operating in the global rotating machine market for biofuel are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- Sinopec
- GEA Group
- Corken Inc.
- Howden
- WITTIG
- A Gardner Denver Company
- Atlas Copco
- Ingersoll Rand
- Flowserve
- Opra Turbines
- Air Control Industries
- Siemens
- Hamworthy Heating
- MAN Energy
Global Rotating Machine Market for Biofuel: Research Scope
Global Rotating Machine Market for Biofuel, by Type
- Compressors
- Turbines
- Gas Heaters
- Fans
Global Rotating Machine Market for Biofuel, by Production Process
- Transesterification
- Gasification
- Fermentation
- Others
Global Rotating Machine Market for Biofuel, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Rotating Machine Market for Biofuel Introduction
- A machine with a rotating component that transfers energy to a fluid or vice versa is known as rotating machinery or turbomachine. As a result, energy is transferred between the fluid and the rotor in a turbomachine through dynamic interaction.
- Rotating machine uses a rotating shaft to pass on energy to fluids through active interaction. Biofuel is extracted from naturally available biomass such as agricultural waste, trees, and grass. These sources are renewable and available naturally and provide the perfect fuel for energy generation.
