ALBANY, New York, September 3, 2015 /PRNewswire/ --
Transparency Market Research has released a new market report
titled Static and Rotating Equipment (Oil and Gas) Market -
Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast, 2014 - 2022. According to this report, the global
static and rotating equipment market for 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 market for oil and gas equipment has been classified as
static and rotating equipment. These equipment are utilized across
all verticals of the hydrocarbons industry: upstream, midstream,
and downstream. Within static equipment, we have considered valves,
heat exchangers, furnaces, and boilers. Valves are vital for
controlling the flow of crude oil or natural gas in oil and gas
infrastructure such as wellheads, pipelines, and refineries.
Boilers are mostly utilized in the refining industry for steam
generation or cooling. In refineries, steam is mostly utilized for
steam stripping, steam distillation, process heating, and vacuum
distillation. Furnaces are used in the oil and gas industry for
combustion of solid, liquid, or gaseous fuels to generate heat.
Cracking and reforming furnaces are two of the most common types of
furnaces used in the oil and gas or petrochemical industry. Heat
exchangers are largely required during the refining process in
cracking units. They are often utilized in processes, which
separate oil from produced water. In natural gas production, heat
exchangers are used in liquefaction. Heat exchangers used in the
upstream, midstream, and downstream sectors include air cooled,
shell and tube, and plate heat exchangers.
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Analysis:
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Rotating equipment majorly consist of compressors, turbines, and
pumps. Compressors are used extensively in the oil and gas industry
and are often customized according to different requirements.
For instance, reinjection compressors used for product
enhancement and artificial lifting are rapidly being deployed in
underground storage facilities of natural gas. Apart from these,
other compressors that are frequently used in the oil and gas
industry include flash gas compressors, gas lift compressors,
reciprocating compressors, and screw compressors. Gas turbines,
especially aero-derivative gas turbines, are currently being
deployed in both onshore and offshore oil and gas facilities for
mechanical drive and power generation purposes. Pumps are one of
the most vital rotating equipment used in the oil and gas industry.
Some major types of pumps utilized include centrifugal pumps and
positive displacement pumps. Electrical submersible pumps, a
sub-type of centrifugal pumps, are being increasingly deployed in
offshore and deep-water wells. These pumps occupied a share of
nearly 50% in the global artificial lift market in 2014.
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Static equipment accounted for 52.79% of the global market share
in 2013. A strong outlook for valves can be expected in the future,
driven largely by the upstream industry, especially unconventional
E&P activities. With a distinct regional mismatch of supply and
demand centers of natural gas, an acute need is also being felt for
natural gas logistics by converting it to liquefied natural gas
(LNG). Demand for new boilers by the oil and gas industry
would mostly be dependent upon the installation and construction
trends in the refining industry. Apart from this, secondary
conversion units and distillation capacity additions in existing
refineries are also expected to result in an increased demand for
boilers in the next few years. With the importance of natural gas
in the global energy mix increasing rapidly, the volume of LNG
trade is also expected to grow significantly in the future.
Consequently, heat exchangers are being increasingly deployed in
the LNG industry.
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A rapidly increasing share of offshore activities in the global
hydrocarbons production mix coupled with numerous mature oilfields
are the major demand drivers for compressors globally. Demand for
turbines is likely to increase in the upstream sector for lifting
purposes, especially in the numerous unconventional E&P
projects scheduled to start operations in Asia Pacific and South America. Demand for pumps would be
driven by the upstream and midstream sectors. Strong requirement
for secondary recovery techniques, which need artificial lift
systems, is likely to be a major demand driver for pumps, such as
electrical submersible pumps, within the forecast period.
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http://www.europlat.org/north-america-anticipated-to-dominate-by-global-static-and-rotating-equipment-oil-and-gas-market-over-the-forecast-period-transparency-market-research.htm
For the report, Global Market for Oil and Gas Static and
Rotating Equipment was segmented as:
Oil and Gas Static and Rotating Equipment Market: Product
Type Analysis
Oil and Gas Static Equipment
- Valves
- Boilers
- Heat Exchangers
- Shell and Tube
- Air Cooled
Oil and Gas Rotating Equipment
- Compressors
- Turbines
- Pumps
Oil and Gas Static and Rotating Equipment Market: Regional
Analysis
North America
- U.S.
- Rest of North America
Europe
- Norway
- U.K.
- Rest of Europe
Asia Pacific
- China
- Australia
- Rest of Asia Pacific
Middle East and Africa
- GCC Countries
- Nigeria
- Algeria
- Rest of Middle East and
Africa
South and Central
America
- Brazil
- Rest of South and Central
America
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Reports: http://www.transparencymarketresearch.com/energy-market-reports-3.html
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