Global Market Study on Rotating Equipment Repair: Applications in Oil & Gas and Power Generation to Witness an Upsurge


Rotating Equipment Repair  Market
  • Published On : Mar-2019 |
  • Pages : 326 Pages |
  • Format :

This PMR study on the rotating equipment repair market offers a ten-year forecast for the global rotating equipment repair market for the period between 2018 and 2028. The study of the rotating equipment repair market considers 2017 as the base year with market values estimated for 2018 and a forecast developed for the duration 2018 to 2028. The rotating equipment repair market’s Compound Average Growth Rate (CAGR) study has been represented from 2018 to 2028. This rotating equipment repair market study covers various perspectives of the market, including market dynamics, competition analysis, value chain and pricing chain analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment-level projections in a comprehensive manner.

As per the findings of the study and perspectives of industry participants, the global rotating equipment repair market is projected to grow at a CAGR of 4.6% between 2018 and 2028, in terms of value. The growth of oil & gas and power generation industries is expected to aid the growth of the global rotating equipment repair market.

The equipment that use kinetic energy to transfer or move gases, fluids and other process materials are known as rotating equipment. Rotating equipment can be of different types, including compressors, pumps, turbines, mixers, and agitators. They play a vital role in different end-use industrial applications and require inspection, maintenance, repair and other services.

The PMR report on the rotating equipment repair market carefully analyses the market at a regional and global level through market segmentation on the basis of key parameters, i.e. nature of service, equipment type, end use industry, channel and region. This rotating equipment repair market report is structured to facilitate the reader to develop a detailed understanding of the market. The rotating equipment repair report begins with market definitions, followed by a background of the market, market dynamics and analysis of the market by key segments, regional analysis and competition landscape. Each section of the rotating equipment repair market report offers a quantitative and qualitative assessment of the market on the basis of historical developments, facts, and key opinions collected from various industry participants through dedicated interviews and trends in the market.

Rotating Equipment Repair Market: Segmentation

Nature of Service

Equipment Type

End Use Industry

Channel

Region

  • Condition Monitoring & Reliability Services
  •  Reverse Engineering & Upgrade
  • Repair, Refurnish and Retrofit
  • Installation and Commissioning
  • Component & Operating Software Upgrades
  • Pumps
  • Centrifugal Compressors
  • Agitators & Mixers
  • Turbines
    • Gas Turbines
    • Steam Turbines
  • Oil & Gas
    • Upstream
    • Midstream
    • Downstream
  • Power Generation
  • Mining
  • HVAC
  • Water & Wastewater Treatment
  • General Manufacturing
  • Other Industrial
  • Direct OEM Based
  • Independent Service Vendor Based
    • Onsite (Field Services)
    • Offsite
  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

The rotating equipment repair market report begins with an introduction of the market, which includes the market taxonomy and product definition with respect to the global rotating equipment repair market assessment. In the following section, the rotating equipment repair market report describes the market development background, covering industry factors and macro-economic factors affecting the rotating equipment repair market for the base year considered for the study.

The next section of the rotating equipment repair market report discusses the dynamics of the market, such as market drivers (demand and supply side), restraints, opportunities and trends, impacting the market growth at a global level. The rotating equipment repair market potential for manufacturers has been presented in the following section of the same chapter. This section also includes the assessment of the impact of market dynamics on the global rotating equipment repair market.

Subsequent section of the report provides value (US$ Mn) projections for the rotating equipment repair market on the basis of the above-mentioned segments at a global level. The values for the global rotating equipment repair market represented in these section have been agglomerated by collecting data and information at the regional level.

All the above sections evaluate the present rotating equipment repair market scenario and growth prospects in the global rotating equipment repair market while the forecast presented in the sections assesses the market size in terms of volume and value.

Additionally, it is imperative to note that, in an inconsistent global economy, we not only conduct forecasts in terms of CAGR, but furthermore analyse the market on the basis of crucial parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the rotating equipment repair market and identify the accurate opportunities available.

In order to understand the key market segments in terms of growth and installation of rotating equipment repair across concerned regions, PMR has developed the attractiveness index, which will help providers identify real market opportunities.

Another significant feature of the rotating equipment repair market report is the analysis of all the key segments in rotating equipment repair market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective in the rotating equipment repair market.

In the concluding section of the rotating equipment repair report, a competitive landscape of the rotating equipment repair market has been included to provide report audiences with a dashboard view, categorised on the basis of providers present in the value chain, their presence in the rotating equipment repair market and key differentiating factors and strategies. The primary category of providers covered in the report includes rotating equipment manufacturers. This section in the rotating equipment repair market report is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the rotating equipment repair market. Examples of some of the key competitors covered in this report include The Weir Group PLC, Flowserve Corporation, General Electric Company, Siemens AG, KSB SE & Co. KGaA, Ebara Corporation, Sulzer AG, John Wood Group PLC, Torishima Pump Mfg. Co., Ltd., MAN SE, Stork, Hydro Inc., Triple EEE, Amaru Giovanni S.R.L., Rainbow Mechanical Solutions LLC, De Pretto Industrie S.r.l., Maintenance Partners NV, CFATEC, TS&S, Basis Plant Services S.r.l., MEOS CO. LLC, S.T. Cotter Turbine Services, Inc. and Al-Rushaid Group.

The rotating equipment repair research report covers comprehensive information about rotating equipment repair market trends, value (US$ Mn) projection, recent developments and dynamics in the global rotating equipment repair market for the period between 2018 and 2028.

The global rotating equipment repair market is projected to reach a market value of US$ 25.9 Bn during the forecast period and is anticipated to grow at a CAGR of 4.6%, by value. Growth of end-use industries such as oil & gas and power generation is a prime factor expected to drive the growth of the rotating equipment repair market.

PMR   Rotating Equipment Repair Market

Need For Reliable Operation of Rotating Equipment and Minimizing Downtime

Rotating equipment form a critical part of industrial plant set-ups, especially in process industries, and their continuing and reliable functioning is vital for the overall plant operation. Rotating equipment are used in physically demanding applications and face continuous wear and tear during operations. Any drop in their operational reliability or sudden failure of equipment can result in significant losses for end users and can lead to a cascading effect across the chain, affecting other industrial processes in a plant or at a location.

The services, such as rotating equipment repair, continuous maintenance, refurbishment, and component upgrades, have thus become the key to keeping the industrial process chain moving. The demand for rotating equipment repair services has been increasing globally over the recent past and PMR expects the global market for rotating equipment repair is expected to grow 1.6X by the end of the forecast period.

Growing Demand for Rotating Equipment Repair Services from Key End-Use Industries

Key end-use industries for rotating equipment repair include oil & gas, power generation, mining, HVAC, water & wastewater treatment, and general manufacturing. Growing industrialization and development of consumption driven economies have resulted in the steady growth of these industries, which has been driving demand for machinery, such as rotating equipment. Equipment require ongoing repair, maintenance and related services throughout their working life. Thus, the demand for rotating equipment repair, maintenance and similar services is directly benefiting from growing industrialization.

The water & wastewater treatment segment in the global rotating equipment repair market is expected to grow at a 6.1% CAGR, by value, during the forecast period. Growing demand for preventive maintenance and other services in various industries is an important factor expected to create new opportunities for market growth in the coming years.

Increasing Application of Rotating Equipment Repair in Harsh Operating Conditions

In light of the rapid advancements in technology, equipment operators are exploring new frontiers that were earlier untouched or simply unimaginable. New developments in drilling and production technology have led companies to operate in not just deep-water fields, but also ultra-deep-water fields with well depths thousands of feet below the sea level.

Technological developments have enabled the exploration of resources in areas as remote as the Russian Arctic. As a consequence, rotating equipment used for such applications are being used in much harsher environments than any other time previously, which is expected to subsequently surge the demand for rotating equipment repair services.

Moreover, climate change effects have led to sudden swings in weather conditions with extreme levels of cold, heat and rain being witnessed in various regions. Rotating equipment operating in such conditions become even more prone to wear or outright damage.

Such harsh operating conditions are also playing a role in driving the demand for rotating equipment repair and related services. The oil & gas segment is expected to drive the global rotating equipment repair market and create an absolute dollar opportunity worth US$ 2.9 Bn during the forecast period.

Mergers and Acquisitions – Key Growth Strategies in Rotating Equipment Repair Market

In line with the demand for integrated systems & services such as rotating equipment repair services, an increasing number of end users are preferring to simplify and de-clutter their supplier and service provider base. Thus, there is growing demand for suppliers that are full-service providers, as compared to those offering services focused on specific equipment or niche applications. Service providers have responded by expanding their service capabilities through mergers & acquisitions in the global rotating equipment repair market.

For example, Sulzer acquired a controlling stake in the Russian gas turbine maintenance services provider, Rotec GT in 2017. The acquisition allowed Sulzer to acquire a strong foothold in the gas turbine services sector in Russia and the CIS region. Mergers and acquisitions are proving to be effective growth strategies in the global rotating equipment repair market.

Rotating Equipment Repair Market – Competition Landscape

The global rotating equipment repair market is a moderately consolidated market and most major market participants held a single-digit market share in 2017. The top ten to twelve players in the global rotating equipment repair market collectively hold between 43% and 48% of the market share. The report has profiled some of the most prominent competition actively participating in the competitive landscape of rotating equipment repair market.

Key Questions Answered in the Global Rotating Equipment Repair Market Report

  • How has the rotating equipment repair market evolved over the past four years?
  • What are some of the prevailing market dynamics in the rotating equipment repair market?
  • What shape is the rotating equipment repair market expected to take in terms of value during the study period?
  • What are the competition developments and trends in the rotating equipment repair market?
  • What are the important key challenges, opportunities and improvement factors for rotating equipment repair market players?
  • What are some of the underlying macro-economic and industry factors impacting the growth of the rotating equipment repair market?
  • What are the important market positioning and key strategies of key rotating equipment repair manufacturers as per the market taxonomy?
  • How is the competition structured at present and how has it evolved in the rotating equipment repair market over the past few years?

Company Profiles:

  • Flowserve Corporation 
  • General Electric Company 
  • Siemens AG 
  • KSB SE & Co. KGaA 
  • Ebara Corporation 
  • Sulzer AG 
  • John Wood Group PLC 
  • Torishima Pump Mfg. Co., Ltd.
  • MAN SE 
  • Stork 
  • Hydro Inc.
  • Triple EEE 
  • Amaru Giovanni S.R.L.
  • Rainbow Mechanical Solutions LLC
  • De Pretto Industrie S.r.l.
  • Maintenance Partners NV
  • CFATEC
  • TS&S
  • Basis Plant Services S.r.l.
  • MEOS CO. LLC
  • S.T. Cotter Turbine Services, Inc.
  • Al-Rushaid Group
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