Research Nester recently published report titled "Midstream Oil and Gas Equipment Market – Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global midstream oil and gas equipment market in terms of market segmentation by resource, equipment, by application and by region.
The global midstream oil and gas equipment market is segmented by resource, equipment and application. On the basis of resource type, the market is further segmented into crude oil and natural gas; by equipment type into gas treating and processing equipment, instrumentation equipment, pipe, pumps, rail tank cars, storage tanks, and valves, out of which, the pipe segment is anticipated to have highest market share on the back of their increased usage in processed gas and crude oil transportation system. Based on application, the market is into air separation, gas lift, gas purification, hydro desulphurization, hydrogen production, natural gas processing, recycle compression, and vapor recovery.
The global midstream oil and gas equipment market is anticipated to attain a CAGR of -1.9% over the forecast period i.e. 2019-2027 owing to oil price recovery and increasing natural gas consumption. Additionally, the removal of restrictions on LNG exports resulted in the improvement in oil and gas sector by honing the demand for new construction units. These factors are estimated to significantly support the growth of the market over the forecast period.
Regionally, the midstream oil and gas equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in Asia-Pacific is anticipated to occupy significant market share in upcoming years, especially in China and India on the back of growing environmental concerns and increased energy consumption. The innovations in oil and gas market to provide an economical way to transport hydrocarbons are anticipated to fuel the market growth in the region.
Increasing Initiatives and Investments
Increasing requirement for equipment on account of an escalating demand of gas production in both developed and developing countries coupled with growing demand for transportation fuels is driving the growth of the market. Additionally, new government initiatives and investments in oil and gas sector has resulted in creating numerous opportunities, thereby surging the demand for midstream oil and gas equipment.
However, the high operational cost and declining commodity prices are expected to operate as key restraints to the growth of midstream oil and gas equipment market over the forecast period.
Further, for the in-depth analysis, the report embraces the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global midstream oil and gas equipment market which includes company profiling Ariel Corporation, Cameron International, Ebara Corporation, EVRAZ plc., Exterran Corporation, General Electric, Pentair, Sulzer, Tenaris and Trinity Industries Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global midstream oil and gas equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.