Static And Rotating Equipment Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Alfa Laval AB, Atlas Copco AB, Pentair plc, General Electric Company, Metso Oyj, Siemens AG, Sulzer Limited

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The Business Research Company presents an extensive market research report on the Static And Rotating Equipment Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The static and rotating equipment market size has grown strongly in recent years. It will grow from $26.05 billion in 2023 to $27.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to power generation needs, focus on operational efficiency, growing industrialization, infrastructure development, economic growth in emerging markets, replacement and upgradation needs..

The static and rotating equipment market size is expected to see strong growth in the next few years. It will grow to $34.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to increasing renewable energy projects, demand for lng infrastructure, global emphasis on emission reduction, focus on predictive maintenance, growing investments in lng and petrochemical projects, globalization of manufacturing, expansion of downstream processing.. Major trends in the forecast period include digitalization and industry 4.0 integration, remote monitoring and maintenance, adoption of 3d printing/additive manufacturing, innovations in materials and coatings, strategic alliances and partnerships..

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Key Market Players:

Major companies operating in the static and rotating equipment market report are Alfa Laval AB, Atlas Copco AB, Pentair plc, General Electric Company, Metso Oyj, Siemens AG, Sulzer Limited, TechnipFMC Inc., OAO TMK Group, Technip SA, Flowserve Corporation, Doosan Group, Wärtsilä Corporation, Mitsubishi Heavy Industries Ltd., Tenaris S.A., NES Company Inc., Ingersoll Rand Inc., Gardner Denver Inc., Dresser-Rand Group Inc., Weir Group plc, KSB SE & Co. KGaA, SPX FLOW Inc., John Crane plc, ITT Inc., Ebara Corporation, Kobe Steel Ltd., Voith GmbH & Co. KGaA, Baker Hughes Company, National Oilwell Varco Inc., Aker Solutions ASA, Cameron International Corporation, Schlumberger Limited, Emerson Electric Co., Honeywell International Inc., Parker Hannifin Corporation, Danfoss A/S, Swagelok Company, Spirax-Sarco Engineering plc, Armstrong International Inc.

Market Drivers:

The rising popularity and adoption of renewable energy sources to reduce the carbon footprint is expected to propel the growth of the static and rotating equipment market going forward. Renewable energy refers to energy generated from naturally replenished sources such as the sun and wind. Static and rotating equipment has been used in renewable energy to optimize the utilization of wind and solar energy while using as few fossil fuels as possible, including natural gas. For instance, in December 2021, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, renewables are expected to account for about 95% of the increase in worldwide power capacity until 2026, with solar PV alone accounting for more than half. The amount of renewable capacity is estimated to increase by 50% in 2021 and 2026. Therefore, the rising popularity and adoption of renewable energy sources to reduce the carbon footprint is driving the growth of the static and rotating equipment markets.

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The static and rotating equipment market covered in this report is segmented -

1) By Product Type: Oil and Gas Static Equipment, Oil and Gas Rotating Equipment
2) By Static Equipment: Valves, Boilers, Furnaces, Heat Exchangers
3) By Rotating Equipment: Compressors, Turbines, Pumps
4) By Application: Upstream, Midstream, Downstream

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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