A new Transparency Market Research report states that the global static and rotating equipment market stood at US$26.5 bn in 2013 and is predicted to reach US$35.8 bn in 2022. It is expected to expand at a sluggish CAGR of 3.70% from 2014 to 2022. The title of the report is “Static and Rotating Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2022”.

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According to this report, the swift infrastructure advancement in the oil and gas midstream sector is a major driver fuelling the global market for static and rotating equipment. In addition, factors such as the construction of new refineries and enhancement in the present facilities are also amongst the prime factors fuelling the market. Furthermore, oil production via unconventional sources is a key technology having a positive impact on the static and rotating equipment market. On the other hand, the hostile macroeconomic outlook may impede the demand owing to great pricing pressure being posed on the major manufacturers, thus restraining the growth of the global static and rotating equipment market.