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The Middle East's Aspiration for Economic Diversification and Energy Efficiency Creates a Wider Market for Centrifugal and Compressors Market - Recently hosted Webinar by Frost & Sullivan examined the Middle East Centrifugal and Positive Displacement Compressors Market - IndustrialAutomation.Frost.com
The Middle East's Aspiration for Economic Diversification and Energy Efficiency Creates a Wider Market for Centrifugal and Compressors Market

 

PRZOOM - /newswire/ - Dubai, UAE, United Arab Emirates, 2013/03/06 - Recently hosted Webinar by Frost & Sullivan examined the Middle East Centrifugal and Positive Displacement Compressors Market - IndustrialAutomation.Frost.com.

   
 
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Rapid advancements in compressor technology have opened up substantial opportunities for the compressors market in the Middle East. Demand for new equipment will continue as facilities install new compressors with either high-speed direct-drive or variable frequency drive solutions to gain better energy efficiency. The Middle East’s burgeoning infrastructure demands are prompting the development of more roads, railways, ports and water pipelines. These projects, in turn, have expanded the market for various industrial-grade compressors such as Centrifugal and Positive displacement compressors.

New analysis from Frost & Sullivan (industrialautomation.frost.com), Analysis of the Middle East Centrifugal and Positive Displacement Compressors Market, finds that the Centrifugal Compressors market earned revenues of over USD 868.6 million in 2011 and estimates this to reach USD 1,312.1 million in 2016; while the Positive Displacement Compressors market earned revenues of USD 450.5 in 2011 million, and is estimated to reach USD 669.5 million in 2016. The end-user segments covered in this research include oil and gas, petrochemicals, chemicals and fertilizers, power generation and desalination, water and wastewater treatment plants and associated facilities, metals and mining (steel and aluminium) and cement. To get more insights on the Middle East Centrifugal and Positive Displacement Compressors Market and view a recording of the complimentary Webinar, click here.

"The region's burgeoning population has led to rapid and diversified industrialisation and infrastructure growth. The subsequent introduction of several non-oil and gas based projects, besides continued investment in the oil and gas industry is heightening the demand for centrifugal compressors. Escalating energy requirements have necessitated the construction of gas-fired plants that need centrifugal compressors for their process applications. In addition, Saudi Arabia being the largest Middle East market, offers further scope for centrifugal compressor manufacturers as it is focusing on diversifying its industries to reduce dependence on oil and gas revenues and create employment opportunities. Growth in non-oil and gas-based projects such as petrochemicals, power, desalination, water and wastewater, infrastructure, metals and mining will raise the demand for positive displacement compressors", said Frost & Sullivan Analyst for Industrial Automation & Process Control Practice.

Increasing industrial investments in Iran and Iraq will further ensure substantial market growth. The cement sector will also contribute significantly to the Positive Displacement Compressor market’s revenues, as the widening gap between supply and demand in this sector will lead to both greenfield and brownfield investments, boosting the demand for positive displacement compressors. Increasing aluminum and steel production, for which large volumes of oxygen are required, too will increase the sales of compressors.

However, while older compressor technologies remain popular, end users are reluctant to adopt new equipment due to concerns regarding product reliability and operability in local conditions. End users are wary of migrating to the next level of technology due to apprehensions regarding product reliability and operability in local conditions. As a result they prefer to continue operations with the older compressor technologies which are less efficient.

Reduced demand for oil and gas from key export markets such as the United States and China owing to the weak global economy has also slowed down market investments. Volatile raw material prices affect manufacturers’ profit margins. The Middle East’s economy is also under huge stress from the declining demand for oil from its major export destination, Europe. The Middle East survived the rough patch and achieved its targeted growth by increasing oil prices, but there is a discernible drop in investments in the oil and gas industry, which affects the positive displacement compressors market.

"To boost revenues, suppliers must establish a strong local presence and sales and service setup. Compressor suppliers need to foster healthy relations with their end users to ensure the latter is aware of new technologies and their benefits, especially of energy efficiency. Further, they can leverage diverse forums to interact with clients and familiarize them with their products", noted Frost & Sullivan Analyst. "Timely and high-quality services are key in this market and hence, providing robust sales and services set-up as well as having local presence are crucial."

Spreading awareness on the benefits of new technology through internet-based forums and periodic meetings, along with increased engagement between suppliers and end users through symposiums, will enhance customer loyalty and enable market expansion.

Analysis of the Middle East Centrifugal and Positive Displacement Compressors Market and is part of the Industrial Automation & Process Control Growth Partnership Service program. Frost & Sullivan’s related research services include: North American Centrifugal Pump Market, Global Digital Manufacturing Market, North American Machine-to-machine Software and Services market, and Advanced Process Control and Process Optimization Market in India. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Analysis of the Middle East Centrifugal and Positive Displacement Compressors Market / P68F-10 and P690-10

 
 
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The Middle East's Aspiration for Economic Diversification and Energy Efficiency Creates a Wider Market for Centrifugal and Compressors Market

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