The tremendous development in the exploration of hydrocarbons across the globe paved the way for refining and processing of oil and gas. Revolution in the field of automobile, pharmaceutical, telecommunication, manufacturing, and so many other sectors are touching the new height of success only due to the discovery of hydrocarbon. Before transmitting oil and gas to end user, it must be processed and refined for effective utilization. The static and rotating equipment is broadly used in upstream, midstream and downstream sector. New refineries are being constructed to cope up with increasing demand which propels the development scope of the static and rotating equipment.
The static and rotating equipment is classified on the basis of equipment type i.e. Static Equipment and Rotating Equipment. Static equipment is sub-divided into valves, heat exchanger, boilers, and furnaces. These equipment are broadly used in processing and refining of oil and gas. Whereas rotating equipment is sub-divided into pumps, turbine, and compressors. The equipment that moves a liquid, solid or gases through a system of drivers, transmission devices and auxiliary equipment termed as rotating equipment.
The transformation of the world is only possible through an industrial development in which oil and gas is playing a key element factor. Enormous and rising demand for hydrocarbons has to strain the available refineries and oil reserves. To meet the increasing demand exploration of new oil reserves and refineries are being constructed which is expected the growth of the static and rotating equipment market.
Global instability of crude oil prices greatly affects the static and rotating equipment market. The oil prices crashed in 2015 and left a long-lasting effect on the oil and gas industry in which many operators ceased their operation which slows down the growth of the static and rotating equipment market.
Top Players List:
- Mitsubishi Heavy Industries
- Flowserve Corporation
- Alfa Laval
- Atlas Copco
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
As stated in the report, North America held a significant share in the market in 2017. The region is expected to witness impressive growth during the forecast period. Owing to intense research and development taking place in the region for IoT integration in the system is likely to enable the growth in the region. Besides this, Asia Pacific is expected to witness promising growth owing to the rising adoption of a sedentary lifestyle in nations such as India and China.
The report also offers insights on the key players operating in the global Static and Rotating Equipment market.
Major Table of Content for Static and Rotating Equipment Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Static and Rotating Equipment Market Analysis, Insights and Forecast, 2014-2025
- North America Static and Rotating Equipment Market Analysis, Insights and Forecast, 2014-2025
- Europe Static and Rotating Equipment Market Analysis, Insights and Forecast, 2014-2025
- Asia Pacific Static and Rotating Equipment Market Analysis, Insights and Forecast, 2014-2025
- The Middle East and Africa Static and Rotating Equipment Market Analysis, Insights and Forecast, 2014-2025
- Latin America Static and Rotating Equipment Market Analysis, Insights and Forecast, 2014-2025
- Competitive Landscape
- Company Profile
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