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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Oceania Rotating Equipment Market Trends
Oceania's ongoing infrastructure development projects, including the construction of transportation infrastructure, present opportunities to install and utilise rotating equipment, such as centrifugal and displacement pumps. Oceania has significant potential for renewable energy generation, such as hydro, wind, and solar power. This expansion aids the deployment of rotating equipment, including turbines and generators, to harness clean energy sources.
Oceania is rich in natural resources. For instance, Papua New Guinea is rich in gold, and copper while Australia boasts an abundance of iron ore and black coal. The mining sector plays a crucial role in Oceania's economic growth. In 2021, global exploration budgets in Australia expanded by 38.8% y-o-y to USD 1.90 billion, exceeding the average global budget growth rate of 35.0%. The growing mining sector is likely to aid the demand for rotating equipment, such as pumps and conveyors to conduct efficient extraction and processing operations.
Oceania Rotating Equipment Market Report Snapshots
Oceania Rotating Equipment Market Size
Oceania Rotating Equipment Market Trends
Oceania Rotating Equipment Market Share
Oceania Rotating Equipment Companies
Oceania Rotating Equipment Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of USD 4.18 million in 2023.
The market is estimated to grow at a CAGR of 10.2% during 2024-2032
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 12.52 million by 2032.
The key drivers include rising technological advancements, the growth of the oil and gas sector, and expansion of the renewable energy sector.
The market covers countries such as Australia, New Zealand, Papua New Guinea, Fiji, and others.
The various product types are turbines, pumps, compressors, and agitators and mixers.
The key players in the market include Siemens AG, Sulzer Ltd, Ingersoll Rand Inc., Atlas Copco AB, The Weir Group PLC, Ebara Corporation, Hitachi, Ltd, General Electric Company, and Mitsubishi Heavy Industries, Ltd, among others.
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