Global Rotating Equipment Repair Market

Global Rotating Equipment Repair Market Size, Trends, and Analysis- Forecasts To 2026 By Type Covers (Pumps, Centrifugal Compressors, Turbines), By Applications (Oil & Gas, Power Generation, Mining, HVAC), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis

Category Electronics, Semiconductors and Information & Communication Technology

Format

This report was recently updated on October 23 2024 with the latest and most recent market numbers

Rotating Equipment Repair Market: Insights

Mechanical elements used in a number of industries to transfer gases, liquids, and other process materials using kinetic energy are called as rotating equipment. Generators, turbines, engines, pumps, compressors, blowers, and gearboxes are types of rotating equipment. Because of their distinct design, maintenance, and inspection specifications, rotating equipment is often handled separately from fixed equipment in certain operations. The word "rotating equipment" refers to a collection of mechanical components that are used to add kinetic energy to some operations in order to transfer material.

The technical advancements in the end-use industries like oil and gas and power generation is projected to propel the rotating equipment repair industry ahead. Rotating equipment is an important part of industrial plant setups, particularly in process industries, and its continued and effective operation is essential to the plant's overall operation. Rotating equipment is often used in physically demanding applications and is subjected to constant wear and tear.

Any decrease in operational efficiency or equipment breakdown can result in substantial losses for end consumers, as well as lead to a cascading impact along the chain, impacting other manufacturing processes in a plant or at a site. As a result, facilities like rotating equipment repair, refurbishment, continuous servicing, and component upgradations have become critical for maintaining the movement of the manufacturing process.

Power generation, water and wastewater treatment, HVAC, mining, oil and gas, and general manufacturing are all important end-use sectors for rotating equipment repair. The continued growth of these sectors is already increasing the demand for machinery, such as rotating equipment, as a result of rising industrial development and the emergence of consumption-driven societies. Throughout their working lives, equipment needs constant repair, servicing, and related services. As a result, the increasing industrial revolution is directly benefiting the market for rotating equipment repair, servicing, and related services.

Technological advancements have made it possible to explore resources in places as far away as the Russian Arctic. As a result, rotating equipment used in such applications is being used in even harsher conditions than at any other point in history, increasing demand for rotating equipment repair services. Furthermore, the impacts of climate change have resulted in abrupt changes in environmental patterns, with cycles of cold, heat, and rain being observed in different areas. Rotating equipment that operates in such environments is more vulnerable to wear and tear. The demand for rotating equipment repair and related services is also being driven by such severe operating environments.

global rotating equipment repair market

Rotating Equipment Repair Market: By Type Covers

The rotating equipment repair market has been categorized into centrifugal compressors, pumps, and turbines depending on the type of equipment. Pumps are growing rapidly in the global rotating equipment market, owing to a variety of factors including increased use of these pumps in various end-use sectors such as water and wastewater treatment, oil and gas, and mining. The rapidly expanding share of offshore operations in the global hydrocarbons production mix, as well as many mature oilfields, is projected to drive global compressor demand higher.

Rotating Equipment Repair Market: By Applications

Following the price drop, the oil and gas sector has been increasing at a healthy rate, and this market for high-pressure pumps and some other rotating equipment repair services for upstream, downstream, and midstream operations is anticipated to increase. Moreover, the rising electricity consumption from factories and the residential sector is anticipated to augment the rotating equipment repair market's rapid growth from 2021-2026.

asia pacific rotating equipment repair market

Rotating Equipment Repair Market: By Region

Because of extensive investment in hydrocarbon refining and manufacturing, the Asia-Pacific region is a lucrative market. Developing markets such as India and China are launching a new initiative for developing oil and gas in their respective nations, resulting in an increase in demand for rotating equipment. South Asia held a significant share in the global rotating equipment repair market, and the market is expected to expand at a steady CAGR from 2021 to 2026. Because of growing demand from the power generation and manufacturing sectors, the region is likely to see substantial growth in the rotating equipment repair sector. The regional demand is expected to expand due to rapid industrial production and urbanization in China and India. The economy's primary drivers are industrial production and exports, but the market is grappling between manufacturing and investment. During the anticipated span, Latin America is expected to see positive growth in the rotating equipment repair industry. Moreover, the growth of the water and wastewater treatment sector– particularly in Europe – is anticipated to complement the growth of the European rotating equipment repair sector during the forthcoming years, in addition to the oil and gas industry. The latest discovery of shale gas and tight gas in North America has boosted the production of unconventional reserves. The extraction of hydrocarbon from an established well and the discovery of a new well is also being done on a wide scale. New refineries are being built to satisfy the high demand, which is propelling the rotating equipment industry in North America. the Russia, United Kingdom, Norway, and France have a larger hydrocarbon extraction and refining infrastructure. Companies are actively invested in hydrocarbon discovery and development, resulting in a high market for rotating equipment in Europe. The MEA not only leverages the need for rotating equipment but also provides a profitable market for rotating equipment attributed to the prevalence of the world's leading oil firms and vast proven oil reserves.

Rotating Equipment Repair Market: Share & Competitor Analysis

General Electric, MAN, Siemens, KSB, Sulzer, John Wood Group, Ebara, Basis Plant Services, Flowserve, Torishima Pump, S.T. Cotter Turbine Services, Stork, Rainbow Mechanical Solutions, TS&S, Al-Rushaid Group, Hydro, Triple EEE, MEOS, Amaru Giovanni, De Pretto Industrie, CFATEC, and Maintenance Partners are the major vendors operating in the rotating equipment repair industry.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Methodology

1.1 Market Scope & Definitions

1.2 Estimates & Forecast Calculation

1.3 Historical Data Overview and Validation

1.4 Data Sources

1.4.1 Secondary

1.4.2 Primary

Chapter 2 Report Outlook

2.1 Rotating Equipment Repair Industry Overview, 2016-2026

2.1.1 Industry Overview

2.1.2 Cover Type Overview

2.1.3 Application Overview

2.1.4 Regional Overview

Chapter 3 Rotating Equipment Repair Market Trends

3.1 Market Segmentation

3.2 Industry Background, 2016-2026

3.3 Market Key Trends

3.3.1 Positive Trends

3.3.1.1 Flourishing end-use industries like oil and gas and power generation

3.3.1.2 Rapidly increasing development in the industrial field

3.3.2 Industry Challenges

3.3.2.1 High cost associated with infrastructure in low income countries

3.4 Prospective Growth Scenario

3.4.1 Cover Type Growth Scenario

3.4.2 Application Growth Scenario

3.5 COVID-19 Influence over Industry Growth

3.6 Porter’s Analysis

3.7 PESTEL Analysis

3.8 Value Chain & Supply Chain Analysis

3.9 Regulatory Framework

3.9.1 North America

3.9.2 Europe

3.9.3 APAC

3.9.4 LATAM

3.9.5 MEA

3.10 Technology Overview

3.11 Market Share Analysis, 2020

3.11.1 Company Positioning Overview, 2020

Chapter 4 Rotating Equipment Repair Market, By Cover Type

4.1 Cover Type Outlook

4.2 Pumps

4.2.1 Market Size, By Region, 2016-2026 (USD Million)

4.3 Centrifugal Compressors

4.3.1 Market Size, By Region, 2016-2026 (USD Million)

4.4 Turbines

4.4.1 Market Size, By Region, 2016-2026 (USD Million)

Chapter 5 Rotating Equipment Repair Market, By Application

5.1 Application Outlook

5.2 Oil & Gas

5.2.1 Market Size, By Region, 2016-2026 (USD Million)

5.3 Power Generation

5.3.1 Market Size, By Region, 2016-2026 (USD Million)

5.4 Mining

5.4.1 Market Size, By Region, 2016-2026 (USD Million)

5.5 HVAC

5.5.1 Market Size, By Region, 2016-2026 (USD Million)

Chapter 6 Rotating Equipment Repair Market, By Region

6.1 Regional outlook

6.2 North America

6.2.1 Market Size, By Country 2016-2026 (USD Million)

6.2.2 Market Size, By Cover Type, 2016-2026 (USD Million)

6.2.3 Market Size, By Application, 2016-2026 (USD Million)

6.2.4 U.S.

6.2.4.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.2.4.2 Market Size, By Application, 2016-2026 (USD Million)

6.2.5 Canada

6.2.5.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.2.5.2 Market Size, By Application, 2016-2026 (USD Million)

6.3 Europe

6.3.1 Market Size, By Country 2016-2026 (USD Million)

6.3.2 Market Size, By Cover Type, 2016-2026 (USD Million)

6.3.3 Market Size, By Application, 2016-2026 (USD Million)

6.3.4 Germany

6.3.4.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.3.4.2 Market Size, By Application, 2016-2026 (USD Million)

6.3.5 UK

6.3.5.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.3.5.2 Market Size, By Application, 2016-2026 (USD Million)

6.3.6 France

6.3.6.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.3.6.2 Market Size, By Application, 2016-2026 (USD Million)

6.3.7 Italy

6.3.7.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.3.7.2 Market Size, By Application, 2016-2026 (USD Million)

6.3.8 Spain

6.3.8.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.3.8.2 Market Size, By Application, 2016-2026 (USD Million)

6.3.9 Russia

6.3.9.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.3.9.2 Market Size, By Application, 2016-2026 (USD Million)

6.4 Asia Pacific

6.4.1 Market Size, By Country 2016-2026 (USD Million)

6.4.2 Market Size, By Cover Type, 2016-2026 (USD Million)

6.4.3 Market Size, By Application, 2016-2026 (USD Million)

6.4.4 China

6.4.4.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.4.4.2 Market Size, By Application, 2016-2026 (USD Million)

6.4.5 India

6.4.5.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.4.5.2 Market Size, By Application, 2016-2026 (USD Million)

6.4.6 Japan

6.4.6.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.4.6.2 Market Size, By Application, 2016-2026 (USD Million)

6.4.7 Australia

6.4.7.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.4.7.2 Market size, By Application, 2016-2026 (USD Million)

6.4.8 South Korea

6.4.8.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.4.8.2 Market Size, By Application, 2016-2026 (USD Million)

6.5 Latin America

6.5.1 Market Size, By Country 2016-2026 (USD Million)

6.5.2 Market Size, By Cover Type, 2016-2026 (USD Million)

6.5.3 Market Size, By Application, 2016-2026 (USD Million)

6.5.4 Brazil

6.5.4.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.5.4.2 Market Size, By Application, 2016-2026 (USD Million)

6.5.5 Mexico

6.5.5.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.5.5.2 Market Size, By Application, 2016-2026 (USD Million)

6.5.6 Argentina

6.5.6.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.5.6.2 Market Size, By Application, 2016-2026 (USD Million)

6.6 MEA

6.6.1 Market Size, By Country 2016-2026 (USD Million)

6.6.2 Market Size, By Cover Type, 2016-2026 (USD Million)

6.6.3 Market Size, By Application, 2016-2026 (USD Million)

6.6.4 Saudi Arabia

6.6.4.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.6.4.2 Market Size, By Application, 2016-2026 (USD Million)

6.6.5 UAE

6.6.5.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.6.5.2 Market Size, By Application, 2016-2026 (USD Million)

6.6.6 South Africa

6.6.6.1 Market Size, By Cover Type, 2016-2026 (USD Million)

6.6.6.2 Market Size, By Application, 2016-2026 (USD Million)

Chapter 7 Company Landscape

7.1 Competitive Analysis, 2020

7.2 General Electric

7.2.1 Company Overview

7.2.2 Financial Analysis

7.2.3 Strategic Positioning

7.2.4 Info Graphic Analysis

7.3 MAN, Siemens

7.3.1 Company Overview

7.3.2 Financial Analysis

7.3.3 Strategic Positioning

7.3.4 Info Graphic Analysis

7.4 KSB

7.4.1 Company Overview

7.4.2 Financial Analysis

7.4.3 Strategic Positioning

7.4.4 Info Graphic Analysis

7.5 Sulzer

7.5.1 Company Overview

7.5.2 Financial Analysis

7.5.3 Strategic Positioning

7.5.4 Info Graphic Analysis

7.6 John Wood Group

7.6.1 Company Overview

7.6.2 Financial Analysis

7.6.3 Strategic Positioning

7.6.4 Info Graphic Analysis

7.7 Ebara

7.7.1 Company Overview

7.7.2 Financial Analysis

7.7.3 Strategic Positioning

7.7.4 Info Graphic Analysis

7.8 Basis Plant Services

7.8.1 Company Overview

7.8.2 Financial Analysis

7.8.3 Strategic Positioning

7.8.4 Info Graphic Analysis

7.9 Flowserve

7.9.1 Company Overview

7.9.2 Financial Analysis

7.9.3 Strategic Positioning

7.9.4 Info Graphic Analysis

7.10 Torishima Pump

7.10.1 Company Overview

7.10.2 Financial Analysis

7.10.3 Strategic Positioning

7.10.4 Info Graphic Analysis

7.11 Other Companies

7.11.1 Company Overview

7.11.2 Financial Analysis

7.11.3 Strategic Positioning

7.11.4 Info Graphic Analysis

The Global Rotating Equipment Repair Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Rotating Equipment Repair Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global rotating equipment repair market?

The global rotating equipment repair market size is projected to grow from USD xx million in 2021 to USD xx million by 2026 at a CAGR value of 4.6%.

Who are the major vendors in the rotating equipment repair market?

Key and innovative vendors in the rotating equipment repair market include General Electric, MAN, Siemens, KSB, Sulzer, John Wood Group, Ebara, Basis Plant Services, Flowserve, Torishima Pump, S.T. Cotter Turbine Services, Stork, Rainbow Mechanical Solutions, TS&S, Al-Rushaid Group, Hydro, Triple EEE, MEOS, Amaru Giovanni, De Pretto Industrie, CFATEC, and Maintenance Partners, among others.

Which region has the highest market share in the rotating equipment repair market?

The North America region is estimated to hold the largest share of the rotating equipment repair market.

What is the Covid-19 impact on future rotating equipment repair manufacturers?

Supply chain disruptions and the shutting down of industrial manufacturing units owing to government-mandated lockdowns have adversely impacted the growth of the rotating equipment repair market. Disruptions and fluctuations in raw materials have decreased the demand for repair services. As industries are slowly beginning to return to working at full capacity as workers return, the market is expected to bounce back.

What are the major drivers in the rotating equipment repair market?

Technological advancements in the industries like oil & gas and power generation, rapid urbanization and industrialization, and the emergence of consumption-driven economies are expected to be the major drivers of the rotating equipment repair market.