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| A12374 | Pages: 169 | Jul 2021 | 79 Views | | |
| Author(s) : Priyanka Khandelwal | Tables: 84 | Charts: 46 |
| |
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Middle East Modularization Market
Request Now !The Middle East modularization market size is expected to reach $747.1 million by 2028, from $492.1 million in 2020, registering a CAGR of 5.3% from 2021 to 2028. Pipe spools, prefabricated pipes, pipe skids, and modules are the component used in modularization systems. Modularization system is connected using bolts, forge fittings, buttweld fittings, and flanges. They are being used for many reasons such as it reduces construction cost & time and has the ability to work in high temperature conditions.
The COVID 19 outbreak has affected the growth of the Middle East modularization industry owing to the lockdown measure in different countries and delay in manufacturing and production of pipe spools, pipe skids, and pipe racks.
Increase in construction of drilling and exploration activities for oil in the Middle East fuels the growth of the market. For instance, in November 2020, Abu Dhabi’s Supreme Petroleum Council (SPC) announced to spend $121.97 billion on Abu Dhabi National Oil Company in UAE. In addition, emerging countries such as Bahrain, Oman, and others are planning to invest in the oil & gas, which in turn, is expected to lead to rise in demand for more pipe fabrication products; thereby, fueling the Middle East modularization market growth.
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Major players such as Honeywell International Inc (Honeywell UOP), AIC Steel, and others are adopting key developmental strategies such as joint venture, business expansion, and others to improve their geographic presence. For instance, in July 2019, Honeywell UOP announced that Kuwait Integrated Petroleum Industries Company has expand the reconfiguration of refining and petrochemicals sections in its AI-Zour refinery to the Honeywell UOP.
An increase in demand for carbon steel in modular process skid, owing to its advantageous features such as faster project completion, cost savings, higher quality fabrication, reduced safety issues, lower space requirements, portability, and improved security. Moreover, the induction bending piping of carbon steel lowers the risks of deformation and wall thinning of the cross-section.
The increase in demand for pipe rack modules in various end-user industries such as power, chemicals, and other industries are projected to boost the growth of the Middle East modularization market. An increase in construction activities for oil & gas refineries and other projects leads to increase in demand for pipe rack modules, which is anticipated to cater to the growth of the market. For instance, UAE government invested around $21.8 billion on offshore oil project named as Upper Zakum.
Moreover, major players such as Prosaic Steel and Alloys, CIMS Pipe Fabrication, and others offered a process skid fabrication service. For instance, CIMS Pipe Fabrication offered process skid fabrication services. However, fluctuation in raw material prices and fluctuation in foreign exchange rates are anticipated to restraint the growth of the market. On the other hand, technological innovation in the piping spools and other modularization products are anticipated to provide lucrative opportunities for the growth of the Middle East modularization market.
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The Middle East modularization market is segmented on the basis of service, end-user industry, and country. On the basis of services, the market is divided into prefabricated pipes (spools), process & fabrication, process & pipe rack modules, and others. The prefabricated pipe (Spools) segment generated the highest revenue in 2020. By end user industry, the market is categorized into oil & gas, mining & metallurgy, petrochemicals & chemicals, power, and others. The oil & gas segment held the majority of the share in 2020.
Country wise, the Middle East modularization market analysis is conducted across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE. In 2020, Saudi Arabia was the highest contributor to the Middle East modularization market share, and is anticipated to secure a leading position during the forecast period.
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Key players profiled in this report include Fluor Corporation, SHV Holdings N.V. (Mammoet), Arabian International Company for Steel Structures, Larsen & Toubro Limited (L & T Piping Center), ENKA INSAAT VE SANAYI (CIMTAS PIPE FABRICATION AND TRADING CO. LTD.), YENA ENGINEERING B.V., PROSAIC STEEL AND ALLOYS, Metal Forge India, Honeywell International Inc (Honeywell UOP), and ChelPipe Group.
Major players are adopting joint venture and business expansion as key developmental strategy to improve the product portfolio of modularized products. For instance, in December 2019, Fluor Corporation signed joint venture with COOEC-Fluor Heavy Industries, Co Ltd based in Yard, China. The joint venture aimed to construct modular project in Kuwait Integrated Petroleum Industries Company project in Kuwait. COEEC-Fluor delivered 188 modules in 20 separate shipments with a weight of 65,000 metric tons.
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Key Benefits For Stakeholders
Middle East Modularization Market Segments
By Service
By End User Industry
By Country
Key Players
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Key market players
1.5.Research methodology
1.5.1.Primary research
1.5.2.Secondary research
1.5.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter's five forces analysis
3.4.Key player positioning 2020
3.5.Market dynamics
3.5.1.Drivers
3.5.1.1.Growth in exploration and drilling activities in the Middle East
3.5.1.2.Rise in use of pipes, fittings, and pipe racks in end-user application
3.5.1.3.Growth in adoption of stainless-steel pipe spools and racks
3.5.2.Restraints
3.5.2.1.Fluctuation in raw material prices
3.5.2.2.Fluctuation in foreign currencies and its influence over profit margins
3.5.3.Opportunity
3.5.3.1.Technological advancement in modularization system
3.6.COVID-19 impact analysis
3.7.Pricing analysis
3.7.1.Product, Transportation, Installation
3.7.2.Material Price, Assembly, Others
3.8.List of upcoming projects
CHAPTER 4:MIDDLE EAST MODULARIZATION MARKET, BY SERVICE
4.1.Overview
4.1.1.Market size and forecast, by service
4.1.2.Market volume and forecast, by service
4.2.Prefabricated pipes (spools)
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by service
4.2.3.Market volume and forecast, by service
4.2.4.Market analysis, by country
4.3.Process skid fabrication
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by service
4.3.3.Market volume and forecast, by service
4.3.4.Market analysis, by country
4.4.Process and pipe rack modules
4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by service
4.4.3.Market volume and forecast, by service
4.4.4.Market analysis, by country
4.5.Others
4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by service
4.5.3.Market volume and forecast, by service
4.5.4.Market analysis, by country
CHAPTER 5:MIDDLE EAST MODULARIZATION MARKET, BY END-USER INDUSTRY
5.1.Overview
5.1.1.Market size and forecast, by end-user industry
5.1.2.Market volume and forecast, by end-user industry
5.2.Oil & gas
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by end-user industry
5.2.3.Market volume and forecast, by end-user industry
5.2.4.Market analysis, by country
5.3.Mining & metallurgy
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by end-user industry
5.3.3.Market volume and forecast, by end-user industry
5.3.4.Market analysis, by country
5.4.Petrochemicals & chemicals
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by end-user industry
5.4.3.Market volume and forecast, by end-user industry
5.4.4.Market analysis, by country
5.5.Power
5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by end-user industry
5.5.3.Market volume and forecast, by end-user industry
5.5.4.Market analysis, by country
5.6.Others
5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by end-user industry
5.6.3.Market volume and forecast, by end-user industry
5.6.4.Market analysis, by country
CHAPTER 6:MIDDLE EAST MODULARIZATION MARKET, BY COUNTRY
6.1.Overview
6.1.1.Market size and forecast, by country
6.1.2.Market volume and forecast, by country
6.1.3.Bahrain
6.1.3.1.Bahrain market size and forecast, by service
6.1.3.2.Bahrain market size and forecast, by end-user industry
6.1.4.Kuwait
6.1.4.1.Kuwait market size and forecast, by service
6.1.4.2.Kuwait market size and forecast, by end-user industry
6.1.5.Oman
6.1.5.1.Oman market size and forecast, by service
6.1.5.2.Oman market size and forecast, by end-user industry
6.1.6.Qatar
6.1.6.1.Qatar market size and forecast, by service
6.1.6.2.Qatar market size and forecast, by end-user industry
6.1.7.Saudi Arabia
6.1.7.1.Saudi Arabia market size and forecast, by service
6.1.7.2.Saudi Arabia market size and forecast, by end-user industry
6.1.8.UAE
6.1.8.1.UAE market size and forecast, by service
6.1.8.2.UAE market size and forecast, by end-user industry
CHAPTER 7:COMPANY PROFILES
7.1.ARABIAN INTERNATIONAL CO. FOR STEEL STRUCTURES (AIC)
7.1.1.Company overview
7.1.2.Key executive
7.1.3.Company snapshot
7.1.4.Product portfolio
7.2.CHELPIPE GROUP
7.2.1.Company overview
7.2.2.Key executive
7.2.3.Company snapshot
7.2.4.Operating business segments
7.2.5.Product portfolio
7.2.6.Business performance
7.3.ENKA INSAAT VE SANAYI A.S. (CIMTAS PIPE FABRICATION AND TRADING CO. LTD.)
7.3.1.Company overview
7.3.2.Key executive
7.3.3.Company snapshot
7.3.4.Operating business segments
7.3.5.Product portfolio
7.3.6.Business performance
7.4.FLUOR CORPORATION
7.4.1.Company overview
7.4.2.Key executive
7.4.3.Company snapshot
7.4.4.Operating business segments
7.4.5.Product portfolio
7.4.6.R&D expenditure
7.4.7.Business performance
7.4.8.Key strategic moves and developments
7.5.HONEYWELL INTERNATIONAL INC
7.5.1.Company overview
7.5.2.Key executive
7.5.3.Company snapshot
7.5.4.Operating business segments
7.5.5.Product portfolio
7.5.6.Research and development expenses
7.5.7.Business performance
7.5.8.Key strategic moves and developments
7.6.LARSEN & TOUBRO LIMITED (L&T PIPING CENTER)
7.6.1.Company overview
7.6.2.Key executives
7.6.3.Company snapshot
7.6.4.Operating business segments
7.6.5.Product portfolio
7.6.6.Research and development expenses
7.6.7.Business performance
7.7.METAL FORGE INDIA
7.7.1.Company overview
7.7.2.Key executive
7.7.3.Company snapshot
7.7.4.Product portfolio
7.8.PROSAIC STEEL AND ALLOYS
7.8.1.Company overview
7.8.2.Key executives
7.8.3.Company snapshot
7.8.4.Product portfolio
7.9.SHV HOLDINGS N.V. (MAMMOET)
7.9.1.Company overview
7.9.2.Key executives
7.9.3.Company snapshot
7.9.4.Product portfolio
7.9.5.Business performance
7.10.YENA ENGINEERING B.V.
7.10.1.Company overview
7.10.2.Key executive
7.10.3.Company snapshot
7.10.4.Product portfolio
LIST OF TABLES
TABLE 01.MIDDLE EAST MODULARIZATION MARKET REVENUE, BY SERVICE, 2020-2028 ($MILLION)
TABLE 02.MIDDLE EAST MODULARIZATION MARKET REVENUE, BY SERVICE, 2020-2028 ($MILLION)
TABLE 03.MIDDLE EAST MODULARIZATION MARKET VOLUME, BY SERVICE, 2020-2028 (MT)
TABLE 04.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR PREFABRICATED PIPES (SPOOLS), 2020-2028 ($MILLION)
TABLE 05.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR PREFABRICATED PIPES (SPOOLS), 2020-2028 (MT)
TABLE 06.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR PROCESS SKID FABRICATION, 2020-2028 ($MILLION)
TABLE 07.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR PROCESS SKID FABRICATION, 2020-2028 (MT)
TABLE 08.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR PROCESS AND PIPE RACK MODULES, 2020-2028 ($MILLION)
TABLE 09.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR PROCESS AND PIPE RACK MODULES, 2020-2028 (MT)
TABLE 10.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR OTHERS, 2020-2028 ($MILLION)
TABLE 11.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR OTHERS, 2020-2028 (MT)
TABLE 12.MIDDLE EAST MODULARIZATION MARKET REVENUE, BY END-USER INDUSTRY 2020-2028 ($MILLION)
TABLE 13.MIDDLE EAST MODULARIZATION MARKET VOLUME, BY END-USER INDUSTRY 2020-2028 (MT)
TABLE 14.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR OIL & GAS, 2020-2028 ($MILLION)
TABLE 15.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR OIL & GAS, 2020-2028 (MT)
TABLE 16.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR MINING & METALLURGY, 2020-2028 ($MILLION)
TABLE 17.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR MINING & METALLURGY, 2020-2028 (MT)
TABLE 18.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR PETROCHEMICALS & CHEMICALS, 2020-2028 ($MILLION)
TABLE 19.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR PETROCHEMICALS & CHEMICALS, 2020-2028 (MT)
TABLE 20.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR POWER, 2020-2028 ($MILLION)
TABLE 21.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR POWER, 2020-2028 (MT)
TABLE 22.MIDDLE EAST MODULARIZATION MARKET REVENUE FOR OTHERS, 2020-2028 ($MILLION)
TABLE 23.MIDDLE EAST MODULARIZATION MARKET VOLUME FOR OTHERS, 2020-2028 (MT)
TABLE 24.MIDDLE EAST MODULARIZATION MARKET REVENUE, BY COUNTRY, 2020–2028 ($MILLION)
TABLE 25.MIDDLE EAST MODULARIZATION MARKET VOLUME, BY COUNTRY, 2020–2028 ($MT)
TABLE 26.BAHRAIN MODULARIZATION MARKET REVENUE, BY SERVICE, 2020-2028 ($MILLION)
TABLE 27.BAHRAIN MODULARIZATION MARKET VOLUME, BY SERVICE, 2020-2028 (MT)
TABLE 28.BAHRAIN MODULARIZATION MARKET REVENUE, BY END-USER INDUSTRY, 2020-2028 ($MILLION)
TABLE 29.BAHRAIN MODULARIZATION MARKET VOLUME, BY END-USER INDUSTRY, 2020-2028 (MT)
TABLE 30.KUWAIT MODULARIZATION MARKET REVENUE, BY SERVICE, 2020-2028 ($MILLION)
TABLE 31.KUWAIT MODULARIZATION MARKET VOLUME, BY SERVICE, 2020-2028 (MT)
TABLE 32.KUWAIT MODULARIZATION MARKET REVENUE, BY END-USER INDUSTRY, 2020-2028 ($MILLION)
TABLE 33.KUWAIT MODULARIZATION MARKET VOLUME, BY END-USER INDUSTRY, 2020-2028 (MT)
TABLE 34.OMAN MODULARIZATION MARKET REVENUE, BY SERVICE, 2020-2028 ($MILLION)
TABLE 35.OMAN MODULARIZATION MARKET VOLUME, BY SERVICE, 2020-2028 (MT)
TABLE 36.OMAN MODULARIZATION MARKET REVENUE, BY END-USER INDUSTRY, 2020-2028 ($MILLION)
TABLE 37.OMAN MODULARIZATION MARKET VOLUME, BY END-USER INDUSTRY, 2020-2028 (MT)
TABLE 38.QATAR MODULARIZATION MARKET REVENUE, BY SERVICE, 2020-2028 ($MILLION)
TABLE 39.QATAR MODULARIZATION MARKET VOLUME, BY SERVICE, 2020-2028 (MT)
TABLE 40.QATAR MODULARIZATION MARKET REVENUE, BY END-USER INDUSTRY, 2020-2028 ($MILLION)
TABLE 41.QATAR MODULARIZATION MARKET VOLUME, BY END-USER INDUSTRY, 2020-2028 (MT)
TABLE 42.SAUDI ARABIA MODULARIZATION MARKET REVENUE, BY SERVICE, 2020-2028 ($MILLION)
TABLE 43.SAUDI ARABIA MODULARIZATION MARKET VOLUME, BY SERVICE, 2020-2028 (MT)
TABLE 44.SAUDI ARABIA MODULARIZATION MARKET REVENUE, BY END-USER INDUSTRY, 2020-2028 ($MILLION)
TABLE 45.SAUDI ARABIA MODULARIZATION MARKET VOLUME, BY END-USER INDUSTRY, 2020-2028 (MT)
TABLE 46.UAE MODULARIZATION MARKET REVENUE, BY SERVICE, 2020-2028 ($MILLION)
TABLE 47.UAE MODULARIZATION MARKET VOLUME, BY SERVICE, 2020-2028 (MT)
TABLE 48.UAE MODULARIZATION MARKET REVENUE, BY END-USER INDUSTRY, 2020-2028 ($MILLION)
TABLE 49.UAE MODULARIZATION MARKET VOLUME, BY END-USER INDUSTRY, 2020-2028 (MT)
TABLE 50.ATTIEH STEEL COMPANY LTD: KEY EXECUTIVE
TABLE 51.AIC: COMPANY SNAPSHOT
TABLE 52.AIC: PRODUCT PORTFOLIO
TABLE 53.CHELPIPE GROUP: KEY EXECUTIVE
TABLE 54.CHELPIPE GROUP: COMPANY SNAPSHOT
TABLE 55.CHELPIPE GROUP: OPERATING SEGMENTS
TABLE 56.CHELIPIE GROUP: PRODUCT PORTFOLIO
TABLE 57.ENKA: KEY EXECUTIVE
TABLE 58.ENKA: COMPANY SNAPSHOT
TABLE 59.ENKA: OPERATING SEGMENTS
TABLE 60.CIMTAS PIPE: SERVICE PORTFOLIO
TABLE 61.FLUOR CORPORATION: KEY EXECUTIVE
TABLE 62.FLUOR CORPORATION: COMPANY SNAPSHOT
TABLE 63.FLUOR CORPORATION: OPERATING SEGMENTS
TABLE 64.FLUOR CORPORATION: PRODUCT PORTFOLIO
TABLE 65.HONEYWELL: KEY EXECUTIVE
TABLE 66.HONEHYWELL: COMPANY SNAPSHOT
TABLE 67.HONEYWELL: OPERATING SEGMENTS
TABLE 68.HONEYWELL UOP: PRODUCT PORTFOLIO
TABLE 69.LARSEN TOUBRO: KEY EXECUTIVES
TABLE 70.LARSEN TOUBRO: COMPANY SNAPSHOT
TABLE 71.LARSEN & TOUBRO LIMITED: OPERATING SEGMENTS
TABLE 72.L&T PIPING CENTER: PRODUCT PORTFOLIO
TABLE 73.METAL FORGE INDIA: KEY EXECUTIVE
TABLE 74.METAL FORGE INDIA: COMPANY SNAPSHOT
TABLE 75.METAL FORGE INDIA: PRODUCT PORTFOLIO
TABLE 76.PROSAIC STEEL & ALLOYS: KEY EXECUTIVES
TABLE 77.PROSAIC STEEL & ALLOYS: COMPANY SNAPSHOT
TABLE 78.PROSAIC STEEL & ALLOYS: PRODUCT PORTFOLIO
TABLE 79.SHV HOLDINGS N.V.: KEY EXECUTIVE
TABLE 80.SHV HOLDINGS N.V.: COMPANY SNAPSHOT
TABLE 81.MAMMOET: PRODUCT PORTFOLIO
TABLE 82.YENA ENGINEERING B.V.: KEY EXECUTIVE
TABLE 83.YENA ENGINEERING B.V.: COMPANY SNAPSHOT
TABLE 84.YENA ENGINEERING B.V.: SERVICE PORTFOLIO
LIST OF FIGURES
FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY
FIGURE 03.TOP INVESTMENT POCKETS
FIGURE 04.LOW-TO-MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05.LOW-TO-MODERATE BARGAINING POWER OF BUYERS
FIGURE 06.LOW-TO-MODERATE THREAT OF SUBSTITUTES
FIGURE 07.LOW-TO-MODERATE THREAT OF NEW ENTRANTS
FIGURE 08.MODERATE TO HIGH INTENSITY OF RIVALRY
FIGURE 09.MARKET PLAYER POSITIONING, 2020
FIGURE 10.MIDDLE EAST MODULARIZATION MARKET, BY SERVICE, 2020-2028 (%)
FIGURE 11.MIDDLE EAST MODULARIZATION MARKET FOR SERVICE, BY COUNTRY, 2020 & 2028 (%)
FIGURE 12.MIDDLE EAST MODULARIZATION MARKET FOR PROCESS SKID FABRICATION, BY COUNTRY, 2020 & 2028 (%)
FIGURE 13.MIDDLE EAST MODULARIZATION MARKET FOR PROCESS AND PIPE RACK MODULES, BY COUNTRY, 2020 & 2028 (%)
FIGURE 14.MIDDLE EAST MODULARIZATION MARKET FOR OTHERS, BY COUNTRY, 2020 & 2028 (%)
FIGURE 15.MIDDLE EAST MODULARIZATION MARKET, BY END-USER INSUTRY, 2020-2028 (%)
FIGURE 16.MIDDLE EAST MODULARIZATION MARKET FOR OIL & GAS, BY COUNTRY, 2020 & 2028 (%)
FIGURE 17.MIDDLE EAST MODULARIZATION MARKET FOR MINING & METALLURGY, BY COUNTRY, 2020 & 2028 (%)
FIGURE 18.MIDDLE EAST MODULARIZATION MARKET FOR PETROCHEMICALS AND CHEMICALS, BY COUNTRY, 2020 & 2028 (%)
FIGURE 19.MIDDLE EAST MODULARIZATION MARKET FOR POWER, BY COUNTRY, 2020 & 2028 (%)
FIGURE 20.MIDDLE EAST MODULARIZATION MARKET FOR OTHERS, BY COUNTRY, 2020 & 2028 (%)
FIGURE 21.MIDDLE EAST MODULARIZATION MARKET, BY COUNTRY, 2020–2028 (%)
FIGURE 22.BAHRAIN MODULARIZATION MARKET REVENUE, 2020–2028 ($MILLION)
FIGURE 23.KUWAIT MODULARIZATION MARKET REVENUE, 2020–2028 ($MILLION)
FIGURE 24.OMAN MODULARIZATION MARKET REVENUE, 2020–2028 ($MILLION)
FIGURE 25.QATAR MODULARIZATION MARKET REVENUE, 2020–2028 ($MILLION)
FIGURE 26.SAUDI ARABIA MODULARIZATION MARKET REVENUE, 2020–2028 ($MILLION)
FIGURE 27.UAE MODULARIZATION MARKET REVENUE, 2020–2028 ($MILLION)
FIGURE 28.CHELPIPE GROUP: REVENUE, 2018–2020 ($MILLION)
FIGURE 29.CHELPIPE GROUP: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 30.ENKA: REVENUE, 2018–2020 ($MILLION)
FIGURE 31.ENKA: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 32.ENKA: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 33.FLUOR CORPORATION: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 34.FLUOR CORPORATION: REVENUE, 2018–2020 ($MILLION)
FIGURE 35.FLUOR CORPORATION: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 36.FLUOR CORPORATION: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 37.HONEYWELL: RESEARCH AND DEVELOPMENT EXPENSES, 2018–2020 ($MILLION)
FIGURE 38.HONEYWELL: REVENUE, 2018–2020($MILLION)
FIGURE 39.HONEYWELL: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 40.HONEYWELL: REVENUE SHARE, BY REGION, 2020 (%)
FIGURE 41.LARSEN & TOUBRO LIMITED: RESEARCH AND DEVELOPMENT EXPENSES, 2019–2021($MILLION)
FIGURE 42.LARSEN & TOUBRO LIMITED: REVENUE, 2019–2021 ($MILLION)
FIGURE 43.LARSEN & TOUBRO LIMITED: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 44.LARSEN & TOUBRO LIMITED: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 45.SHV INDUSTRIAL N.V.: REVENUE, 2018–2020 ($MILLION)
FIGURE 46.SHV INDUSTRIAL N.V.: REVENUE SHARE BY REGION, 2020 (%)
Factors such as increase in population and growth in industrialization are expected to lead to increase in demand for natural gas; thereby, fueling the growth of the Middle East modularization market. In addition, rise in drilling and exploration of oil & gas is anticipated to fuel the growth of the Middle East modularization market. Moreover, rise in use of pipe spools and pipe skids in end-user industries such as power plant, chemical, and others are expected to supplement to the growth of the market. Qatar is famous for biggest natural gas reserve holding in the Middle East. The growing demand for natural gas is expected to lead to rise in exploration and production activities in the Middle East. For instance, according to BP’s 2019 Statistical Review of World Energy, the natural gas reservation production reach from 73.7 trillion cubic meters (tcm) to 75.5 trillion cubic meters (tcm) between 2008 and 2018. In addition, rise in use of stainless-steel material for producing modularization products, owing to its robustness and corrosion control is projected to fuel the growth of the market. On the contrary, fluctuation in raw material prices, and high initial capital investment are projected to hamper the growth of the market.
An increase in use of spool, skid, and pipe rack modules application in the modularization process is anticipated to provide lucrative opportunities for the growth of the Middle East modularization market. Technological advancement in the modularization component is expected to provide the lucrative opportunities for the market players in the modularization industry.
A. The Middle East modularization market size was $492.1 million in 2020 and is projected to reach $747.1 million in 2030, growing at a CAGR of 5.3% from 2021 to 2030.
A. The forecast period considered for the Middle East modularization market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
A. The base year considered in the Middle East modularization market is 2021.
A. The report for Middle East modularization market doesn’t provides Value Chain Analysis, but if there is a requirement for the same, it could be added as an additional customization.
A. On the basis of end-user industry, the oil & gas segment is expected to be the most influencing segment growing in the Middle East modularization market report.
A. Based on service, prefabricated pipes (spools) segment generated the highest revenue, accounting for 45.83% of the market share, and is projected to grow at a CAGR of 4.7% from 2021 to 2030.
A. The report contains an exclusive company profile section, where the leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, and market dominance (in terms of revenue and volume sales).
A. Saudi Arabia is expected to provide more business opportunities for Middle East modularization market in the future.
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