Cryogenic Equipment Market Analysis and In-depth Research on Market Size, Trends, Emerging Growth Factors and Forecasts

The cryogenic equipment market is expected to grow from an estimated USD 16.18 Billion in 2016 to USD 22.42 Billion by 2021, at a CAGR of 6.74% from 2016 to 2021. Factors such as increasing demand for LNG and improving healthcare services, especially in the developing economies are driving the market globally.

                                                                           

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Market Ecosystem

The cryogenic equipment market starts with the manufacturing of equipment such as tanks, valves, vaporizers, and pumps, among others

To provide an in-depth understanding of the competitive landscape, the report includes profiles of companies, namely, Linde Group AG (Germany), Flowserve Corporation (U.S.), Air Liquide (France), VRV S.p.A. (Italy), Chart Industries, Inc. (U.S.), Parker Hannifin (U.S.), INOX India Limited (India), Wessington Cryogenics Ltd. (U.K.), Taylor Wharton Cryogenics LLC (U.S.), Herose GmbH (Germany), Graham Partners (U.S.), Emerson (U.S.), Cryoquip LLC. (U.S.), Cryofab, Inc. (U.S.), and Beijing Tianhai Industry Co., Ltd. (China). Dominant players are trying to penetrate developing economies and are adopting various methods to grab the market share.

Tanks would dominate the global cryogenic equipment market

The cryogenic equipment market in this report has been classified based on product type into the following segments, namely, tanks, valves, vaporizers, pumps and other equipment. The tank segment dominated the cryogenic equipment market in 2015. Tanks are the most expensive cryogenic equipment and hence hold the largest part of the market share. Cryogenic tanks are widely used for storing liquefied gases such as oxygen, nitrogen, and argon, among others.

Stakeholders:

The stakeholders included in this report are as follows:

·         Cryogenic equipment manufacturers, dealers, and suppliers

·         Cryogenic gases/liquid merchant producers, suppliers, and dealers

·         Cryogenic plant developers and service providers

·         LNG dealers

·         Oil & gas companies

·         Consulting companies in the E&P sector

·         Cryogenic and cold storage associations

·         Power and energy associations

·         Shareholders and investors

·         Investment banks

Nitrogen is the largest cryogen type-based market segment

The nitrogen segment holds the largest market size. This is because liquid nitrogen is used in almost all industries including food & beverage, healthcare, metallurgy and electronics among others. It is used for a wide variety of things, such as a coolant for computers, food preservation & packaging applications, among others. Moreover, the demand for liquid nitrogen in these industries for the mentioned applications is growing day by day. Hence, the market size of the cryogenic equipment used to handle liquid nitrogen is the largest.

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Asia-Pacific is the dominant market for cryogenic equipment

Asia-Pacific is currently the largest market for cryogenic equipment. In Asia-Pacific, the growth of the cryogenic equipment market can be attributed to factors such as increasing investments in the energy sector and substantial growth in other end-user industries such as food & beverage and electronics among others in this region. Meanwhile, fastest growth is expected from the Middle Eastern market, due to the large number of LNG producers and rapid growth in chemical and healthcare industries where the cryogenic equipment are vital.

Objectives of the study:

·         To analyze the cryogenic equipment market based on product type, cryogen type, end-user, and region

·         To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contribution to the overall market

·         To analyze major driving factors, restraints, opportunities, burning issues, and winning imperatives in the cryogenic equipment market

·         To analyze trends and forecasts of the cryogenic equipment market and its subsegments

·         To analyze the major stakeholders in the cryogenic equipment market and provide a detailed competitive landscape for the leading players of the industry

·         To analyze the industrial trends in major regions, namely, North America, Asia-Pacific, Europe, South America, Africa, and the Middle East

·         To analyze competitive developments, such as contracts & agreements, expansions, new product launches and mergers & acquisitions in the global cryogenic equipment market, and profile the major players of the market

Oilfield Services Market Latest Industry Trends & Forecast to 2017-2022

The oilfield services market is expected to grow at a CAGR of 3.35%, from 2017 to 2022, to reach a market size of USD 125.51 billion by 2022. Increasing shale gas production, growing global E&P spending, and lifting of Iranian oil export sanctions are the major drivers of the oilfield services market.

The oilfield services market is dominated by a few major players that have a wide regional presence and are established brand names. Leading players in the oilfield services market, such as Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International, PLC (Switzerland), Superior Energy Services, Inc. (U.S.), and GE Oil & Gas (U.K.), have either acquired regional companies or made a joint venture with the ones operating in the oilfield services market to bolster their product portfolio and to enhance their global reach.

Browse 86 Market Data Tables and 113 Figures spread through 248 Pages and in-depth TOC on"Oilfield Services Market by Application (Onshore and Offshore), Service (Well Completion Equipment & Services, Well Intervention Services, Coiled Tubing Services, Pressure Pumping Services, OCTG, and Wireline Services), and Region - Global Forecast to 2022"

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Key Questions

·         How is the current oil price scenario affecting the oilfield services market and what is your view on how the market is expected to perform in the coming years?

·         What are the upcoming technologies that will have a significant impact on the market in the future?

·         What will be the revenue pockets for the market in the next 5 years?

·         Kindly validate the drivers, restraints, opportunities, and challenges of the oilfield services market, and let me know if I am missing anything?

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With regard to the application segment, the offshore segment is expected to constitute the fastest growing market from 2017 to 2022. In terms of market size, the onshore segment would dominate the oilfield services market. Onshore application are quite famous in the Middle East and North America, where maximum number of oilfields are located onshore.

The report segments the oilfield services market, based on services type, into pressure pumping services, OCTG services, wireline services, well completion equipment and services, well intervention services, drilling and completion fluids services, drilling waste management services, and coiled tubing services. The pressure pumping services would account for the maximum share in the oilfield services market. This particular market is expected to grow in the future as a result of shale gas exploration and production activities in North America. Moreover, Asia-Pacific and Africa also present opportunities as offshore exploration activities are on rise in these regions.

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The market in Asia-Pacific is estimated to be the fastest growing market for oilfield services from 2017 to 2022. Increasing offshore exploration activities and shale gas exploration, especially in China and India are driving the demand for oilfield services market in this region. The growing need for oil & gas and the continuing efforts to find new oil & gas reserves are also expected to spur the growth of the market and represents a promising opportunity for major oilfield services providers.

Objectives of the Study

·         To define, describe, and forecast the global oilfield services market by application, services, and region

·         To provide detailed information regarding major factors influencing the growth of the oilfield services market (drivers, restraints, opportunities, and industry-specific challenges related to the market)

·         To strategically analyze the oilfield services market with respect to individual growth trends, future prospects, and contribution of each segment to the market

·         To analyze opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders

·         To forecast the market size of segments with respect to six major regions (along with countries), namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa

·         To strategically profile key players and comprehensively analyze their market shares and core competencies for the oilfield services market

·         To analyze competitive developments such as contracts & agreements, mergers & acquisitions, new product developments, and expansions in the oilfield services market

Shunt Reactor Market Outlook, Growth Trends, Forecast by 2022 Graphical Research

The shunt reactor market is expected to grow at a CAGR of 4.56% from 2017 to 2022, to reach a market size of USD 3.19 billion by 2022. The major drivers of the shunt reactor market include increasing demand for electricity, upgradation of the aging technology, and modernization of the T&D network.

Browse 70 Market Data Tables and 32 Figures spread through 119 Pages and in-depth TOC on "Shunt Reactor Market by Type (Oil-Immersed and Air-Core), Application (Variable Reactors and Fixed Reactors), End-User (Electrical Utilities and Industrial Verticals), and Region (North America, Europe, Asia Pacific, and South America) - Global Forecast to 2022"

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Key companies to provide shunt reactors are GE (US), Siemens (Germany), ABB (Switzerland), Fuji Electric (Japan), Mitsubishi Electric (Japan), CG (India), Nissin Electric (Japan), Zaporozhtransformator (Ukraine), TBEA (China), Toshiba (Japan), and Hilkar (Turkey).

The key players in the shunt reactor market have been indulged in various contracts & agreements to install, construct, develop, or upgrade the shunt reactors. The companies supply shunt reactors to the electric utilities and various industrial verticals. The demand for shunt reactors increases with rise in demand for electricity, which in turn increases the investment in T&D networks, which leads to increase in the shunt reactor market. Thus, contracts & agreements is the major strategy adopted by the companies.

The industrial verticals segment is expected to be the fastest growing segment during the forecast period. The reactive power component enters into the system and reduces the power factor, which is used to measure the efficiency and quality of the power used. Thus, in the industrial vertical segment, the shunt reactors are used to improve the power factor. Growing industrialization in developing countries increases the investment in the T&D infrastructure. The upgradation of the aging technology in various industries leads to rise in investments in the T&D infrastructure which is expected to increase the shunt reactor market during the forecast period. The large investments in the T&D network would create an opportunity for the manufacturers to supply shunt reactors to various private companies.

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The oil-immersed shunt reactor segment is expected to be the fastest growing segment during the forecast period. Oil-immersed shunt reactors are usually utilized for systems with a voltage profile of 72.5 kV and above and are connected directly to the high-voltage busbar/transmission network. Investments in the T&D infrastructure and upgradation of the aging technology are taking place in the developing regions, where the oil-immersed shunt reactors have a high growth. Asia Pacific and North America are estimated to have a decent market growth for oil-immersed shunt reactors.