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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, enduser, and region. Depending on 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 end-use industry, the rotating equipment market has a contribution from different sectors such as mining, 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 surge in demand for productions are likely to boost the growth of the market during the forecast period.
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 forma critical part of industrials set ups, 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 manufacture's needs for high-quality performance equipment. Increase indemand for oil &gas and petrochemicals is anticipated to boost the growth of rotating equipment market. Developments of new projects in these sectors help in diversifying the rotating equipment market. However, high cost of installation process and maintenance of rotating equipment is anticipated to hamper the growth of the market during the forecast period.
Key market players
The major players operation in the rotating equipment market are 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 business in potential markets. In addition, they have been focusing on strategies such as organic and inorganic growth developments, including contracts and investments.
Key benefits of the report
Questions answered in the globalrotating equipment market research report:
Key Market Segments
Key Market Players