Transparency Market Research has recently published a new research report that provides detailed information about the intricate working details of the global static and rotating equipment (oil and gas) market. According to the research report, the market will provide highly lucrative business opportunities as leading players in the market will adopt lean management strategies for coping up with the pressures of pricing. Such marketing strategies can help in controlling the manufacturing costs. Manufacturers are also projected to reduce their expenses on production and exploration activities.
According to the research report, the global static and rotating equipment (oil and gas) market will reach to a valuation of US$35.8 bn by the end of 2022. The market initially was valued at US$26.5 bn back in the year 2013. This scaling up of the valuation of the global static and rotating equipment (oil and gas) market is expected to be achieved with the help of a modest CAGR of 3.7% over the course of the given forecast period of 2014 to 2022.
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North America to Emerge as Leading Regional Segment
There are five main regions that provide key insights on the geographical segmentation and workings of the global static and rotating equipment (oil and gas) market. These regions are North America, Latin America, Asia Pacific, Middle East and Africa, and Europe. Of these, currently the global static and rotating equipment (oil and gas) market is expected to be dominated by the North America market. Midstream, downstream, and upstream activities in the oil and gas industry are highly dependent on the reliability and the quality of static and rotating equipment. This is projected to ensure a solid growth of the market. Moreover, the growth of the market is also linked with growth of the oil and gas sector. This too is projected to help in development of the regional static and rotating equipment (oil and gas) market in North America.
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In addition to this, other nations such as China and Argentina are also projected to leverage the developments in the shale gas sector. In addition to this, rapid developments in the growth of the LNG infrastructure across Asia Pacific and Middle East and Africa is also expected to play a huge role in the development of the static and rotating equipment (oil and gas) market in the respective regions.
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Product Pricing to Put Pressure on Market Players
The competitive landscape of the global static and rotating equipment (oil and gas) market is a fragmented one due to the presence of several key players. Presence of these players has also dictated an increased competition in the global market. The competition in the global market is only expected to increasing in the near future on account of manufacturing and pricing pressures.
Some of the leading companies in the global static and rotating equipment (oil and gas) market include names such as Metso Oyj, Sulzer Limited, Alfa Laval AB, FMC Technologies Inc., and Siemens AG among others.
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