Rotating Equipment Market to Receive Overwhelming Hike in Revenues By 2031

Rotating equipment is a term that describes mechanical components that use kinetic energy to move fluids, gases, and other process materials in the industry. They are responsible for processing and manufacturing activities.

The segmentation of the rotating equipment market is based on type, application, end-user, and region. Depending on the product, rotating equipment is segmented into pumps, compressors, turbines, mixers, and others. Rotating equipment provides kinetic energy to the manufacturing process and helps in machinery functioning. On the basis of the end-use industry, the rotating equipment market has a contribution from different sectors such as mining, the oil & gas industry, power, and others. Region-wise, the rotating equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Rapid industrialization and a surge in demand for production are likely to boost the growth of the market during the forecast period.

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COVID-19 scenario analysis

• Suspension of the aviation sector across the globe disrupted the market growth for rotating equipment.
• China represents one of the largest markets in the aviation sector, and with travel restrictions, the airline service has been largely affected in China, thus impacting the market growth.
• Completed shutdown of many production facilities leads to a decrease in the growth of the oil &gas and power industries, which will further hinder the market growth for rotating equipment.
• However, companies are adopting the Internet of Things (IoT) and visual recognition technology to sense customer demand more efficiently instead of forecasting based on prior sales history. Visual recognition technology aids in managing the channel inventory by providing better visibility of the distribution channel. Such new insights can positively impact market growth during the pandemic.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Rapid industrialization is the major driving factor of the rotating equipment market. Rotating equipment forms a critical part of industrial setups, and their reliable functioning is vital for overall machinery operation.

Furthermore, technological developments in production make the manufacturing process smooth and time-saving tasks, thus driving the manufacturer's need for high-quality performance equipment. An increase in demand for oil &gas and petrochemicals is anticipated to boost the growth of the rotating equipment market. Developments of new projects in these sectors help in diversifying the rotating equipment market. However, the high cost of the installation process and maintenance of rotating equipment is anticipated to hamper the growth of the market during the forecast period.

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Market Key Segment:

By Product Type
• Pumps
• Compressors
• Turbines
• Mixers
• Others

By End User
• Mining
• Oil &Gas
• Power
• Others

By Region
• North America (U.S., Canada, Mexico)
• Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
• LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)

Key market players

The major player's operation in the rotating equipment market is Busch, Clydeunion pumps, Sulzer, Atlas Copco, Flowserve, Grundfos, Gardner Denver, and EBARA. Expansions, acquisitions, partnerships, and new product developments are the key strategies adopted by these players to grow their businesses in potential markets. In addition, they have been focusing on strategies such as organic and inorganic growth developments, including contracts and investments.

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Key benefits of the report

• This study presents the analytical depiction of the global rotating equipment market industry along with the current trends and market estimation to determine the imminent investment pockets
• The report represents information related to key drivers, restraints, and opportunities along with a detailed analysis of the rotating equipment market share
• The current market is quantitatively analyzed to highlight the rotating equipment market growth scenario
• The report provides a detailed market analysis depending on competition and how the competition will take shape in the coming years
• This report helps users in comprehending the key product segments and their future

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