Global Static and Rotating Equipment Market Stood at USD 26,558.63 million in 2013 and is anticipated to reach USD 35,868.94 million by 2022, at a CAGR of 3.7% from 2014 to 2022
The global static and rotating equipment (oil and gas) market has been envisioned by Transparency Market Research (TMR) to offer reliable opportunities as manufacturers turn to lean management schemes for coping with pricing pressure. Such strategies could help manufacturers to control costs.
Manufacturers have also been anticipated to cut down their expenses on exploration and production activities.
Furthermore, there could be an adoption of robust brand identification approaches for product differentiation and high focus on improving the quality of products.
A recent research report published by TMR has envisaged the global static and rotating equipment (oil and gas) market to attain a revenue valuation of US$35.8 bn by 2022. As per product segmentation, oil and gas static equipment had raked in a telling share in the past on the back of the valves market.
In terms of geography, North America could take the lead in the market for static and rotating equipment (oil and gas) as it had proved its supremacy in the recent time.
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Swift Advancement in Infrastructure Development Proves Critical
As per the analysis of the TMR report, the world static and rotating equipment (oil and gas) market has been prognosticated to receive an impregnable impetus with speedy infrastructure development in the oil and gas midstream industry. Other factors such as improvement of current oil refineries and construction of new facilities could fortify the growth of static and rotating equipment (oil and gas).
The market has been forecasted to have an optimistic influence due to the advancement of key technologies that enable the production of oil via avant-garde sources. The latest shale gas success in the U.S.
could be crucial for the demand for static and rotating equipment (oil and gas).
While both static and rotating equipment (oil and gas) could offer plenty of opportunities on the table, the former has been projected to attract more demand in the coming years. Unorthodox exploration and production activities conducted on a global platform could be significant for the growth of the oil and gas static equipment markets such as valves.
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Market Takes Inimical Stance as Manufacturers Battle Pricing Pressure
The business journey of players operating in the international static and rotating equipment (oil and gas) market could be disturbed by the hostile macroeconomic outlook, obstructing the demand growth. This has been prophesied to be on account of the pricing pressure experienced by manufacturers.
Nevertheless, there could be ample of favorable prospects birthing in the international static and rotating equipment (oil and gas) market through developed regions such as North America. Besides this, emerging regions such as Asia Pacific and the Middle East and Africa have been expected to up the demand for static and rotating equipment (oil and gas) while riding on the crucial steps taken to develop infrastructure for the exploration of liquefied natural gas (LNG).
Although Europe could struggle to keep up with the margins in the high-cost upstream sector, it has been foreseen to gradually add to the growth of the market.
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