Oil and Gas Application Boosts Middle East and Africa Compressor Industry
The Middle East and Africa compressor market is projected to rise in the near future. The automotive industry is projected to offer numerous opportunities more specifically in Africa, resulting in setting-up of numerous automobile production entities.
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Under the type segment, the MEA compressor industry is bifurcated into dynamic compressors and positive displacement. The positive displacement compressors demand is projected to rise extensively in the near future, due to expansion of the HVAC-R and automotive industries in the MEA region.
The rotary compressors, under the positive displacement category are projected to dominate the industry in the coming future, led by rising investments in the industrial infrastructure development and power generation. It aims at transforming economy based on petroleum to manufacturing-based.
The centrifugal compressor, under the dynamic compressors captures the extensive revenue share of the industry. The centrifugal compressors are majorly used in the oil and gas industry.
Under the lubrication type, MEA compressor industry is divided into oil-free and oil-flooded. Oil-flooded are widely adopted, due to their benefits over oil-free compressors, that requires low maintenance cost and low external cooling requirement.
Under portability segment, the stationary compressors generate substantial revenue, owed to the presence of the industries that utilise compressors such as chemical and cement, automotive, food and beverage, HVAC-R, and oil and gas. In construction industry, the portable compressors utilize portable compressors for majority of applications.
The highest revenue is generated by oil and gas application in the MEA compressor industry, led by the worldwide rising energy demand. The fluctuations in the oil prices impacts the sales of the compressor. The rising investments and increasing number of projects boost the compressors demand.
Saudi Arabia contributes significantly to the MEA compressor industry, and it is projected to proliferate the industry growth in the near future. It is the largest oil producing country in the MEA region, accounting for 30% share. The oil and gas application industry witnessed the highest demand for compressor. The Saudi Arabia compressor industry is projected to experience the demand from various sectors, more specifically from food and beverage, automotive, and chemical and cement industry.
The surging gas exploration projects in the MEA region is projected to create opportunities for industry players in the nearby future. The energy and chemical-based companies are focusing on partnering with other organizations to cater to the gas requirement in the UAE region.
The rising usage of the compressors in the oil and gas industry for carrying out activities including refinement, oil extraction, and transportation process. The surging number of oil and gas refineries, and increasing investments boosts the industry growth. The gas transportation and liquefication application largely requires compressors.
The major companies of the MEA compressor industry are IDEX Corporation, Man SE, Ingersoll-Rand plc, Atlas Copco AB, Accudyne Industries LLC, MAHLE GmbH, Gardner Denver Holdings Inc., ANEST IWATA Corporation, and Hanon Systems.
Therefore, the expansion of the oil and gas industry in the MEA is projected to boost the compressor industry in the region.
The Middle East and Africa compressor market is projected to rise in the near future. The automotive industry is projected to offer numerous opportunities more specifically in Africa, resulting in setting-up of numerous automobile production entities.
Get More Insights: https://www.psmarketresear...
Under the type segment, the MEA compressor industry is bifurcated into dynamic compressors and positive displacement. The positive displacement compressors demand is projected to rise extensively in the near future, due to expansion of the HVAC-R and automotive industries in the MEA region.
The rotary compressors, under the positive displacement category are projected to dominate the industry in the coming future, led by rising investments in the industrial infrastructure development and power generation. It aims at transforming economy based on petroleum to manufacturing-based.
The centrifugal compressor, under the dynamic compressors captures the extensive revenue share of the industry. The centrifugal compressors are majorly used in the oil and gas industry.
Under the lubrication type, MEA compressor industry is divided into oil-free and oil-flooded. Oil-flooded are widely adopted, due to their benefits over oil-free compressors, that requires low maintenance cost and low external cooling requirement.
Under portability segment, the stationary compressors generate substantial revenue, owed to the presence of the industries that utilise compressors such as chemical and cement, automotive, food and beverage, HVAC-R, and oil and gas. In construction industry, the portable compressors utilize portable compressors for majority of applications.
The highest revenue is generated by oil and gas application in the MEA compressor industry, led by the worldwide rising energy demand. The fluctuations in the oil prices impacts the sales of the compressor. The rising investments and increasing number of projects boost the compressors demand.
Saudi Arabia contributes significantly to the MEA compressor industry, and it is projected to proliferate the industry growth in the near future. It is the largest oil producing country in the MEA region, accounting for 30% share. The oil and gas application industry witnessed the highest demand for compressor. The Saudi Arabia compressor industry is projected to experience the demand from various sectors, more specifically from food and beverage, automotive, and chemical and cement industry.
The surging gas exploration projects in the MEA region is projected to create opportunities for industry players in the nearby future. The energy and chemical-based companies are focusing on partnering with other organizations to cater to the gas requirement in the UAE region.
The rising usage of the compressors in the oil and gas industry for carrying out activities including refinement, oil extraction, and transportation process. The surging number of oil and gas refineries, and increasing investments boosts the industry growth. The gas transportation and liquefication application largely requires compressors.
The major companies of the MEA compressor industry are IDEX Corporation, Man SE, Ingersoll-Rand plc, Atlas Copco AB, Accudyne Industries LLC, MAHLE GmbH, Gardner Denver Holdings Inc., ANEST IWATA Corporation, and Hanon Systems.
Therefore, the expansion of the oil and gas industry in the MEA is projected to boost the compressor industry in the region.
10 months ago
