Global Turbomachinery Market Outlook for Oil and Gas Industry - Market Analysis by Geography, Type, Area of Application, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2015-2020)

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Sep 28, 2015, 06:42 ET

LONDON, Sept. 28, 2015 /PRNewswire/ -- Global population is growing rapidly every year. It is estimated that there will be 8.3 billion people by 2030 and Asia will realize 85 percent growth in its middle class. So there should be sufficient supply of oil and gas according to the population trends. Estimates suggests that approximately 80 million more barrels of oil equivalent per day of new production capacity will be needed by 2020. But it wont be easy as conventional resources are being rapidly depleted. Other factors such as rise in electricity demand of 75 percent and water demand of 54 percent by 2030, while CO2 emissions will jump 35 percent in that same period are forcing the oil and gas operators to increase their use of turbo machinery in their daily operations, in order to achieve greater production levels and better efficiencies.

Factors such as increase in CAPEX spending per barrel of new capacity additions, growth in unconventional and subsea energy spend, and technological advances easing daily operations are driving the market towards growth. Whereas high initial costs and political uncertainties are some of the factors pulling the market back.

Like other oil and gas markets, North America is expected to lead the turbo machinery market in the coming decade. The regions market would be primarily driven by increasing shale activity across United States, Canada and increasing offshore exploration in Gulf of Mexico. Europe and Asia-Pacific are growing rapidly in terms of market demand. Demand is high particularly in some countries such as China, India, United Kingdom, and the Netherlands. The North Sea region presents a decent market opportunity for drilling and completion fluids segment as its new exploration activity is at an all-time high primarily because of the decreasing production levels since past few years and going into much deeper waters to find new oil and gas reserves.

Regions such as South and Central America and Africa are expected to share a decent share of market demand in the coming decade although there are some factors restraining the oil and gas activity in these regions. Africas oil and gas industry has suffered from various political and social scenarios such as internal wars and corruption, the situation is safe enough these days. There was a problem of piracy as well, but it has been handled well by authorities and is now dwindled. Also, there is a tremendous improvement in security across different countries in the region, helping the companies to look into the region again, thus boosting the oil and gas industry.

What the report offers

1) Market Definition for the specified topic along with identification of key drivers and restraints for the market.

2) Market analysis for the turbo machinery market, with region specific assessments and competition analysis on a global and regional scale.

3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.

4) Extensively researched competitive landscape section with profiles of major companies along with their share of markets.

5) Identification and analysis of the Macro and Micro factors that affect the turbo machinery market on both global and regional scale.

6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

Reasons for Buying this Report

1. for gaining an exhaustive understanding of global turbo machinery market. Would be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade

2. An ideal opportunity for industry consultants, equipment manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered

3. Wide-ranging information provided about the leading market players and the major strategies adopted by them
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