Global Rotating Equipment Market Report and Forecast 2024-2032

Global Rotating Equipment Market Size

The global rotating equipment market size reached a value of around USD 165.86 billion in 2023. The market is further expected to grow at a CAGR of 4.10% between 2024 and 2032, reaching a value of around USD 237.20 billion by 2032.

Key Trends in the Market

Rotating equipment refers to various mechanical parts that utilise kinetic energy for the movement of gases, fluids, and other process materials. These mechanical components include turbines, compressors, pumps, and agitators, among others. The design, inspection, and maintenance requirements of rotating equipment is different from that of fixed equipment.

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• The rotating equipment market growth is being driven by rapid industrialisation which is surging the demand for such equipment. Usage of rotating equipment reduces downtime and repair costs while increasing efficiency.

• The growing usage of technologies such as Internet of Things IoTs, artificial intelligence (AI), and machine learning (MI) in the industrial sector a key trend in the market for rotating equipment. These technologies aid in providing real-time, practical insights and increase equipment efficiency.

• The oil and gas, wastewater treatment, and power generating industries are experiencing a surge in demand for rotating equipment like pumps, compressors, and turbines to transfer fluids, gases, and other process materials using kinetic energy. Oil and gas exploration activities are anticipated to increase further to fulfil the expanding global energy demand, increasing the demand for rotating equipment.

Rotating Equipment Market Analysis

Based on product type, the market is divided into pumps, compressors, turbines, and agitators and mixers, among others. By voltage type, the rotating equipment market segmentation is low, medium, and high. On the basis of industry, the market is categorised into oil and gas, power generation, mining, HVAC, water, and wastewater treatment, among others. The regional markets for rotating equipment are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global rotating equipment market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Siemens Aktiengesellschaft

• General Electric Company

• Atlas Copco AB

• Flowserve Corporation

• Mitsubishi Heavy Industries, Ltd.

• Sulzer Management Ltd

• Elgi Equipments Ltd

• Ingersoll Rand Inc

• The Weir Group Plc

• Ebara Corporation

• Others

Rotating Equipment Market Share

Oil and gas, on the basis of industry, accounts for a sizable share in the market for rotating equipment as rotating equipment is a crucial component in the process of producing oil and gas. The production process of oil and gas includes drilling, completion, production, and refining, all of which use rotating machinery. The rising usage of electric motors in oil refineries are further propelling the demand for rotating equipment.

At a regional level, the Asia Pacific is anticipated to witness significant growth in the market for rotating equipment over the forecast period. Rising investments in the oil and gas sector, rapid industrialisation, and modernisation of power plants in countries like China, India, Indonesia, and Malaysia are supporting the regional market growth. Major rotating equipment manufacturers are also setting up production bases in countries like China and India, which is projected to improve the growth prospects of the Asia Pacific market for rotating equipment.

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Competitive Landscape of Rotating Equipment Industry

Siemens Aktiengesellschaft, founded in 1847 and headquartered in Munich, Germany is a leading technology company. Its operations cover the automation, digitalisation, and electrification domains, with a focus on power generation and delivery, distributed energy systems, and intelligent building infrastructure.

Atlas Copco AB, established in 1873 and based in Stockholm, Sweden, is a world leading manufacturer of compressors, vacuum systems, generators, pumps, and power tools. Industries around the world rely on the company's expertise, including innovators and technological leaders.

Flowserve Corporation, founded in 1997 and headquartered in Texas in the United States, is one of the biggest producers of pumps, valves, and seals. The company caters to a variety of industries, including oil and gas, electricity, chemical, water, pharmaceuticals, and food processing.

Other market players include General Electric Company, Mitsubishi Heavy Industries, Ltd., Sulzer Management Ltd, Elgi Equipments Ltd, Ingersoll Rand Inc, The Weir Group Plc, and Ebara Corporation, among others.

Key Highlights of the Report

Rotating Equipment Market Report Snapshots

Rotating Equipment Market Size

Rotating Equipment Market Analysis

Rotating Equipment Market Share

Rotating Equipment Companies