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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Oceania Rotating Equipment Market Analysis by Region
The market benefits from the growth of the power generation sector, one of the major end use sectors for rotating equipment. Within the power generation sector, there is an increased focus on producing renewable power. The New Zealand government’s target to achieve 100% renewable electricity generation by 2035, in addition to their net zero carbon emissions target by 2050, is shifting the consumption towards renewable energy sources such as wind, and solar. New Zealand is set to have 19 operational onshore wind farms with a combined installed capacity of 1,045 MW by the end of 2023. This favours the demand for turbines which are widely used to create electric power in combination with a generator.
Fiji is favoured by its abundant renewable energy resources as it transitions to use them to produce electricity on account of the 20-year National Development Plan, which stipulates all power to be generated from renewable sources by 2030.
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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