The global process plant equipment in downstream oil and gas industry is forecast to grow at a CAGR of 1.18% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: The players in the oil refining industry have started increasing their operations in other countries, especially in countries that present greater demand for petrochemical and refined products. A prominent example of this would be the plans of Saudi Aramco to increase its footprint in the upcoming fuel demand centers in Asia. The company is analyzing the countries where it wants to set its refineries.
The countries under consideration are China, Indonesia, Malaysia, Vietnam, and India. Rather than expanding its refinery capacity in Saudi Arabia itself, it plans to construct more refineries in demand centers in Asia in a bid to expand its refining margins. It already has a refinery in JV with Exxon and China Petroleum and Chemical Corp. in China's Fujian province. It is talks with CNPC to set up more refineries in the country. Many other prominent companies are expected to follow such a strategy to increase their market shares in upcoming demand centers. This trend is expected to become more prominent in the medium to long-term future and would boost the process plant equipment market accordingly.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Hyundai Engineering
- Samsung Engineering
- CB&I¸ Jacobs
- Larsen & Toubro¸ NPCC¸ Petrofac¸ SK Engineering & Construction
- Technicas Reunidas
- Worley Parsons
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Downstream oil and gas industry analysis
PART 06: Market landscape
PART 07: Market segmentation by type
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/75kjcb/global_process
Related Topics: Gas, Process Industry, Oilfield Equipment and Services
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