Oil and Gas Industry Turbomachinery Market 2020 Business Insights - General Electric, Siemens AG, Sulzer Ltd, Air Products & Chemicals

The report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Oil & Gas Industry Turbomachinery production region, major players, and product type which will provide a simplified view of the Oil & Gas Industry Turbomachinery industry. The Oil & Gas Industry Turbomachinery market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Oil & Gas Industry Turbomachinery market which will help the emerging market segments in making vital business decisions.

The turbomachinery market is expected to witness growth at a CAGR greater than 4% and majorly dependent on the upstream, midstream, and downstream sectors.

Oil & Gas Industry Turbomachinery Market Segmentation:  

This report on Global Oil & Gas Industry Turbomachinery market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Oil & Gas Industry Turbomachinery. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).

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Global Oil & Gas Industry Turbomachinery market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including General Electric, Siemens AG, Sulzer Ltd, Air Products & Chemicals,MAN Diesel & Turbo, Caterpillar, amongst others.

Downstream Sector to Dominate the Market

- Downstream sector have dominated the oil & gas industry turbomachinery market in recent years, and is expected to do the same in forecast period.

- Increasing refined products demands in emerging markets, such as India, China, Brazil, and Mexico, are expected to drive the oil & gas turbomachinery market in downstream sector. Moreover, global demand for natural gas is expected to rise because natural gas is more environment-friendly compared to other fossil fuels, such as oil, and there is a global trend toward consumption of cleaner fuel, owing to concerns about air pollution and global warming. Hence, the share of the gas in total global energy consumption is expected to grow.

- Beside this, the growing population, urbanization, and industrialization in the developing countries have resulted in increasing demand for refined and petrochemical products. As a result, the focus of turbomachinery suppliers has shifted toward countries like China and India.

North America to Dominate the Market

- The North American upstream industry is expected to grow at a faster rate due to the positive outlook in the United States and Canada.
- The US crude oil production doubled between 2010 and 2018, with approximately 70% of that growth coming from the Gulf Coast region. The United States Gulf Coast crude oil production grew from 5.2 million bpd in 2014 to 7.1 million bpd in 2018, driven by production in the Permian Basin in western Texas and Southeastern New Mexico.

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This independent 120 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Oil & Gas Industry Turbomachinery market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2025.

Key Takeaways from this Report

Impact of low unit costs, diversified product ranges and intense competition on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Regional analysis of the market
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)           

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This release was published on openPR.