Static Equipment Market Witness Highest Growth AT a CAGR of 2.5% by...

Static Equipment Market Witness Highest Growth AT a CAGR of 2.5% by 2030

Posted 2024-11-06 11:36:57

Global Quick Overview of the Static Equipment Market Analysis

The Global Static Equipment Market Analysis, research report provides an in-depth market study with qualitative and quantitative research of the continuing industry trends, opportunities, growth areas, drivers, and challenges, which would enable stakeholders to align their market strategies according to the present & future market dynamics.

Detailed Analysis of Static Equipment Industry (2024-30): Reveals Further Growth &Market Expansion

According to the most recent study, the Global Static Equipment Market is projected to grow at a CAGR of around 2.5% during the forecast period, i.e., 2024-30. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, regional landscape, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024-30.

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Static Equipment Market Possible Restraint:

Higher Maintenance Costs and Dependability Events or Failures - Due to the sheer number of equipment parts and quantity of stored fluid, the risks related to fixed equipment are higher than those of other equipment types. In a typical refinery or petrochemical facility, fixed equipment accounts for a sizable share of the capital/maintenance costs and dependability events or failures. A sizable portion of business accidents regarding property damage or injury has also involved static equipment. Further, since fixed equipment does not have complex sensors to monitor for corrosion and deterioration in real time, they require frequent inspection and a reliability plan.

Static Equipment Market Segmentation Analysis

-By Type of Equipment

Heat Exchangers- Market Size & Forecast 2019-2030, USD Million
Valves- Market Size & Forecast 2019-2030, USD Million
Boilers- Market Size & Forecast 2019-2030, USD Million
Furnaces- Market Size & Forecast 2019-2030, USD Million
Others- Market Size & Forecast 2019-2030, USD Million

-By Industry

Oil & Gas- Market Size & Forecast 2019-2030, USD Million
Power- Market Size & Forecast 2019-2030, USD Million
Chemicals- Market Size & Forecast 2019-2030, USD Million
Others- Market Size & Forecast 2019-2030, USD Million

-By Companies

Competition Characteristics
Market Share

Explore Our Comprehensive Study: https://www.marknteladvisors.com/research-library/static-equipment-market.html

Geographical Analysis:

-By Region

North America
South America
Europe
Middle East & Africa
Asia Pacific

Here, Asia-Pacific is envisioned to acquire a leading position in the market during the forecast period. It primarily attributes to vast population, favorable government regulations, and the availability of low-cost labor enticing global players to set up their base across the region. As such global players like Atlas Copco, Siemens AG, Metso Oyj, and Sulzer Ltd have already set their eyes on countries like India, China, Taiwan, etc. For instance,

According to the Department for Promotion of Industry and Internal Trade (DPIIT), the total foreign direct investment (FDI) obtained by India in the financial years 2021-22 amounted to USD 83.57 billion. The FDI received by the drug and pharmaceutical industry amounted to USD 19.41 billion, the automotive industry received USD 32.84 billion, and the chemical manufacturing sector received USD 19.45 billion. Likewise, in September 2022, The Malaysian Investment Development Authority (MIDA) revealed that the government has enticed approved investment worth USD 27.5 billion in its manufacturing, services, and primary sectors in the first half of 2022.

Key Players and Competitive Strategies in the Static Equipment Market

The report provides a study that looks at the requirements for manufacturing and processing, project expenses, finance, and economics, as well as projected profit margins and returns on investment. This also helps in identifying the major market players in the market such as:

Technip
Alfa Laval
Atlas Copco
General Electric
Siemens AG
Metso Oyj
Sulzer Ltd
Pentair Plc
Flowserve Corporation
Wartsila Oyj
OAO TMK
Doosan Group
Mitsubishi Heavy Industries
Others

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Static Equipment Industry Recent Developments

July 2022 - Alfa Laval, in partnership with a global Swedish steel company SSAB, seeks to develop and commercialize the world’s first heat exchanger based on fossil-free steel. In this regard, the company expects its first hydrogen-reduced steel unit by 2023. The partnership shall bring Alfa Laval one step closer to achieving carbon neutrality by 2030.
March 2022 - AVK Group unveiled a new line of premium 100 gate valves. The valves make a perfect fit for places where longer shelf life is required while ensuring safety and also where the excavation is unattainable. These places might include public and tourist attractions, busy roads, coastal areas, or areas contaminated with oil or gasoline.

Key Report Highlights

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

Key Questions Answered in the Research Report

What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
What are the trends influencing the current scenario of the market?
What key factors would propel and impede the industry across the globe?
How has the industry been evolving in terms of geography and product adoption?
How has the competition been shaping up across various regions?
How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2024-30?
Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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