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Emphasis on Energy Efficiency to Sustain Profits in Indian Centrifugal Compressors Market Finds Frost & Sullivan - Increase in demand for energy has encouraged investment in the oil and gas pipeline sector - IndustrialAutomation.Frost.com
Emphasis on Energy Efficiency to Sustain Profits in Indian Centrifugal Compressors Market Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mumbai, India, 2013/06/04 - Increase in demand for energy has encouraged investment in the oil and gas pipeline sector - IndustrialAutomation.Frost.com.

   
 
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Increasing industrialization and growing awareness on energy savings have led to advancements in compressor technology and widened the potential of the centrifugal compressors market in India. The shift to high-capacity centrifugal compressors in the process industry will add to manufacturers’ revenues and ensure market development in the country.

New analysis from Frost & Sullivan (industrialautomation.frost.com), Analysis of the Indian Centrifugal Compressors Market, finds that the market is estimated to reach INR 1,180.4 crore in 2016. The end-user segments covered in the study include the oil and gas upstream, midstream and downstream sectors, petrochemicals, chemicals and fertilizers, metals, power generation, textiles, and automotive.

"Escalating demand for energy has encouraged investments in the oil and gas pipeline sector, boosting the sale volumes of centrifugal compressors," said Research Analyst, Industrial Automation and Process Control, Frost & Sullivan. "The initiation of several exploration and refinery projects will further broaden the prospects of centrifugal compressor manufacturers in the country."

Although India is considered one of the fastest growing economies in the world and rated as the most favourable destination for foreign investment in Asia, the country’s high inflation rate affects the manufacturing sector, and in turn, limits centrifugal compressor market growth. Currency depreciation also curbs investments in this capital-intensive market.

In addition, strong competition raises end-users’ bargaining power and weakens centrifugal compressor suppliers’ profit margins, which further take a hit owing to high raw material costs.

The need to decrease total cost of ownership, along with legislative and commercial requirements focused on the environment and effective energy use, fuels the adoption of energy-efficient compressors in India. Therefore, vendors in India are looking to sustain profits by offering high-capacity centrifugal compressors to oil and gas and other process industries, and placing emphasis on energy efficiency, reduced environmental impact, and safety.

"Multi-national manufacturers are collaborating with Indian manufacturers through either technological or marketing tie-ups to expand their presence in the country," noted the analyst. . "Moreover, the replacement market for centrifugal compressors in the country will open up by the end of 2016, and unlock additional avenues for revenue generation."

While centrifugal compressor market is gaining momentum in India, the total life cycle cost of ownership will be the key parameter in selecting a centrifugal compressor. Also, services offered by the suppliers will decide on the sustainability in this field.

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Priya George / Akshata Mhatre, Corporate Communications, at priyag[.]frost.com / akshatam[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.

Analysis of the Indian Centrifugal Compressors Market is part of the Industrial Automation & Process Control Growth Partnership Service program. Frost & Sullivan’s related research services include analysis of the Advanced Process Control and Process Optimization Market in India, Indian Positive Displacement Compressors Market, Distributed Control Systems Market in India, and Indian Bulk Material Handling Equipment Market, among others. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Analysis of the Indian Centrifugal Compressors Market / P666-10

Media Contact:
Nimisha Iyer - Corporate Communications South Asia, Middle East & North Africa
M: +91 98200 50519 / P: +91 22 6607 2004 - E: niyer[.]frost.com.

 
 
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Emphasis on Energy Efficiency to Sustain Profits in Indian Centrifugal Compressors Market Finds Frost & Sullivan

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