Static and Rotating Equipment Global Market Report 2024

The global static and rotating equipment market has grown strongly in recent years. It will grow from $26.05 billion in 2023 to $27.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The expansion observed in the historical period can be ascribed to several factors, including the increasing demand for power generation, emphasis on enhancing operational efficiency, the rise of industrialization, ongoing infrastructure development, economic progress in emerging markets, and the requirements for equipment replacement and upgrades.

The global static and rotating equipment market is expected to see strong growth in the next few years. It will grow to $34.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the upcoming period is primarily driven by the escalating number of renewable energy initiatives, the heightened need for LNG (liquefied natural gas) infrastructure, the worldwide emphasis on reducing emissions, a dedicated focus on predictive maintenance strategies, increased investments in LNG and petrochemical ventures, the globalization of manufacturing practices, and the expansion of downstream processing capabilities. Prominent trends expected in this forecast period encompass the integration of digitalization and Industry 4.0 methodologies, the adoption of remote monitoring and maintenance systems, the incorporation of 3D printing and additive manufacturing, ongoing innovations in materials and coatings, as well as the formation of strategic alliances and partnerships within the industry.

The dynamic shift towards the adoption of renewable energy sources to mitigate carbon footprints is anticipated to drive the growth of the static and rotating equipment market. Renewable energy, derived from naturally replenished sources like the sun and wind, has seen increased popularity and utilization. Static and rotating equipment plays a crucial role in optimizing the harnessing of wind and solar energy, minimizing reliance on fossil fuels, including natural gas. As of December 2021, the International Energy Agency reported that renewables are projected to contribute to approximately 95% of the global increase in power capacity until 2026, with solar PV alone accounting for over half of this capacity. The anticipated 50% increase in renewable capacity between 2021 and 2026 underscores the pivotal role of static and rotating equipment in the renewable energy landscape, fueling the market's growth.

The surge in electricity demand is expected to further propel the static and rotating equipment market. Static and rotating equipment, encompassing generators, transformers, and machinery like turbines, plays a vital role in power generation, transmission, and distribution processes within the electricity sector. As of July 2021, the International Energy Agency projected a near 5% growth in global electricity demand for 2021 and an additional 4% in 2022. This heightened demand underscores the essential role of static and rotating equipment in meeting the world's increasing need for electricity, consequently driving the market forward.

Technological advancements are emerging as a prominent trend in the static and rotating equipment market, with major companies actively focusing on innovation. A notable example is Schneider Electric, a France-based multinational specializing in digital automation and energy management. In May 2022, Schneider Electric introduced EcoStruxure, an asset advisor for electrical distribution and rotating equipment. This technology has the potential to enhance output and reduce downtime by up to 15 hours per week for critical rotating equipment like motors, compressors, and pumps. EcoStruxure Asset Advisor allows remote monitoring for condition-based maintenance and safety, incorporating modern cloud-based analytics tools that leverage data and digital insights to identify issues before they lead to equipment failure. This emphasis on technological advancements reflects the commitment of key players to stay competitive and contribute to the growth of the static and rotating equipment market.

Major players in the static and rotating equipment market are introducing cutting-edge filtration systems like CleanMud Filtration Systems to address and rectify the previously unidentified issue of metal wear contamination. CleanMud Filtration Systems, developed by One Eye Industries Inc., a Canada-based company specializing in patented magnetic filtration solutions, leverages magnetic filtration technology to efficiently filter wear contamination from various fluids, including oil, water, chemical-based mud, fracking, and completion fluid. Launched in November 2021, CleanMud has demonstrated the capability to remove over 95% of wear contamination from drilling fluids, specifically addressing the previously unknown one percent of metal wear contamination. This innovative system contributes to the extension of component life, improved production efficiency, and delivers financial, operational, safety, and environmental benefits to stakeholders in the drilling industry. CleanMud aims to optimize fluid cleanliness, prevent premature wear, and support well completion efficiency, resulting in reduced emissions, enhanced safety, lowered labor costs, and decreased downtime.

In a strategic move in April 2022, Vitrek, a US-based manufacturer specializing in high-voltage test and measurement equipment, acquired MTI Instruments for an undisclosed amount. This acquisition marks a significant expansion of Vitrek's precision instrumentation product offerings across key sectors. MTI Instruments, the acquired company, is a US-based manufacturer renowned for its expertise in producing rotating and static measurement equipment.

Major companies operating in the static and rotating equipment market report are Alfa Laval AB, Atlas Copco AB, Pentair PLC, General Electric Company, Metso Oyj, Siemens AG, Sulzer Limited, TechnipFMC Inc., OAO TMK Group, Technip SA, Flowserve Corporation, Doosan Group, Wärtsilä Corporation, Mitsubishi Heavy Industries Ltd., Tenaris S.A., NES Company Inc., Ingersoll Rand Inc., Gardner Denver Inc., Dresser-Rand Group Inc., Weir Group PLC, KSB SE & Co. KGaA, SPX FLOW Inc., John Crane PLC, ITT Inc., Ebara Corporation, Kobe Steel Ltd., Voith GmbH & Co. KGaA, Baker Hughes Company, National Oilwell Varco Inc., Aker Solutions ASA, Cameron International Corporation, Schlumberger Limited, Emerson Electric Co., Honeywell International Inc., Parker Hannifin Corporation, Danfoss A/S, Swagelok Company, Spirax-Sarco Engineering PLC, Armstrong International Inc.

North America was the largest region in the static and rotating equipment market in 2023. The regions covered in the static and rotating equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the static and rotating equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The static and rotating equipment market comprises two primary categories such as oil and gas static equipment, and oil and gas rotating equipment. Oil and gas static equipment specifically pertains to stationary machinery within the oil and gas and process industries. It denotes systems that remain inactive or on standby within static equipment. Examples of static equipment used in processes include valves, boilers, furnaces, and heat exchangers. On the other hand, rotating equipment like compressors, turbines, and pumps find application across upstream, midstream, and downstream operations.

This report provides static and rotating equipment market statistics, including static and rotating equipment industry global market size, regional shares, competitors with a static and rotating equipment market share, detailed static and rotating equipment market segments, market trends and opportunities, and any further data you may need to thrive in the static and rotating equipment industry. This static and rotating equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The static and rotating equipment market consists of sales of pressure vessels, heat exchangers, tanks and filters, and separators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.