NEW YORK, November 28, 2016 /PRNewswire/ --
Revamping of refineries and petrochemical plant projects to drive Middle East & Africa reverse engineering schematic design market through 2021
According to TechSci Research report "Middle East & Africa Reverse Engineering Schematic Design Market By Type, By Application, By Country, Competition Forecast & Opportunities, 2011 - 2021", reverse engineering schematic design market in Middle East & Africa is forecast to grow at a CAGR of 13% during 2016-2021, due to increasing demand for upgradation and revamping of legacy data and pre-computer-era built aging infrastructure, implementation of stringent emission control norms, changing product quality and specifications, and increasing business productivity and agility. Kuwait intends to expand the Al-Zour Refinery and clean fuels project. The project is envisaged to be developed at a capital expenditure of $30.5 billion and is due to be completed by 2018. Saudi Arabia is also developing the Jazan refinery at an estimated cost of $16 billion by 2017. Both of these mega projects are expected to positively influence the region's reverse engineering schematic design market in the coming years.
Browse 17 market data Tables and 45 Figures spread through 150 Pages and an in-depth TOC on
"Middle East & Africa Reverse Engineering Schematic Design Market "
In 2015, Saudi Arabia dominated Middle East & Africa reverse engineering schematic design market, on account of growing demand from end use industries such as oil & gas, and power. The country has the largest refining capacity in the region, and consequently, would continue to maintain its dominance over the next five years. UAE has also been witnessing increasing demand for reverse engineering schematic design services due to revamping and capacity expansion projects lined up in oil & gas and petrochemical sectors. Intergraph, a subsidiary of Hexagon AB, and AVEVA Group plc are the major 3D designing software players operating in Middle East & Africa reverse engineering schematic design market. AVEVA has increased its presence in the Middle East & Africa region by collaborating with domestic solution providers to capitalize on emerging market opportunities in the region.
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"Demand for reverse engineering solutions in the region is on the rise owing to major revamping and upgradation projects at refineries and other petroleum related infrastructure developments being undertaken across the region. Moreover, advent of modern technology is driving use of reverse engineering schematic design to improve energy efficiency and ensure seamless plan implementation.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Middle East & Africa Reverse Engineering Schematic Design Market By Type, By Application, By Country, Competition Forecast & Opportunities, 2011 - 2021" has evaluated the future growth potential of reverse engineering schematic design market in the Middle East & Africa and provides statistics and information on market structure, size, and trends of reverse engineering schematic design market in the region. The report includes market projections and demand forecasting. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities available in the Middle East & Africa reverse engineering schematic design market.
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