According to MarkNtel Advisors study the Global Static Equipment Market is projected to grow at a CAGR of around 2.5% during the forecast period, i.e., 2023-28.

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Key Findings of the Study: Static Equipment market

Key Drivers: Expanding Oil & Gas Refineries and Plant Facilities Worldwide

The rising global burden and migrating population from rural to urban areas have put forth the need for more energy resources in almost every application sector. Since renewable resources are in their crawling stage, the dependency for energy and power generation is still on oil and gas, which is why the procurement of static equipment has become crucial. This is likely to boost the global demand for static equipment to even higher levels during the forecast period.

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Scope of the Report and Static Equipment Market Segmentation:

By Type of Equipment

  • Heat Exchangers
  • Valves
  • Boilers
  • Furnaces
  • Others

By Industry       

  • Oil & Gas
    • By Application
      • Upstream
      • Midstream
      • Downstream
    • By Location
      • Onshore
      • Offshore
    • Power
    • Chemicals
    • Others

Of them all, the Heat exchanger has gained maximum popularity and is likely to maintain its dominance in the market during the projected time frame.

Static Equipment Market Development:

  • 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.

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

Note: If you require specific information not covered in the current report, we can provide it through customized option

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