The Compressor Market in Middle East & Africa (MEA) 2013-2023: A $3.9 Billion Opportunity in 2023, Driven by Growing Demand in the Oil & Gas Industry - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 25, 2019--The “Middle East and Africa (MEA) Compressor Market (2013-2023)” report has been added to ResearchAndMarkets.com’s offering.
According to this research, the Middle East and Africa (MEA) compressor market is predicted to generate $3.9 billion in revenue by 2023.
During the historical period, the market declined by 0.2%, most significantly during 2014-2015. The fall in oil prices, which had affected a large number of industries, was the primary reason behind the market regress. However, the demand for compressors in the region is expected to grow during the forecast period because of an expected recovery in the regional economy in 2019. Furthermore, the packaging sector in the Middle East is anticipated to grow, increasing the demand for compressors.
On the basis of type, the Middle East and Africa compressor market has been subdivided into dynamic compressors and positive displacement compressors. Out of these, positive displacement compressors held the larger revenue share in 2017, resulting from their widespread usage in the automotive industry.
Geographically, the North African region is one of the largest automotive markets in MEA. Original equipment manufacturers are setting up production facilities in countries, including Morocco, Algeria, Egypt, and Tunisia, due to the rapid urbanization, rising disposable income, and improvement in infrastructure here.
Now, the positive displacement category has been further classified into reciprocating and rotary. Among the two, rotary compressors held the major revenue share in the MEA compressor market in 2017. These compressors are used in a range of applications, including industrial production and power generation. Major countries, such as Saudi Arabia, the U.A.E., and Iran, are implementing policies to minimize their dependency on gas and crude oil production and boost the development of their industrial and power infrastructure.
The construction industry in MEA is estimated to witness a CAGR of 7.2% during 2018-2023. Compressors are installed in the air-operated machinery which is used at construction sites; therefore, the increasing number of construction projects is strongly influencing the growth of the Middle East and Africa compressor market. Saudi Vision 2030 is aimed at reducing Saudi Arabia’s dependence on oil and increase investments in sectors, including health, education, tourism, and infrastructure. Under this vision, the 26,500-sq. km under-construction Neom project, backed by a $500 million investment, is slated to be completed by 2025.
Further, the IAAF World Athletic Championship is to be held in Qatar in 2019, and the FIFA World Cup 2022 will also take place in the country, for which the Al-Wakrah stadium is being constructed in Doha with an investment of $575 million. Thus, the expanding construction sector will drive the demand for compressors in the region.
The major MEA compressor market players are engaged in an intense competition to provide customers with cost-effective, optimum-quality, and technologically advanced products. Currently, the key players include IDEX Corporation, Colfax Corporation, Man SE, Kaeser Kompressoren SE, Mitsubishi Heavy Industries Ltd., Atlas Copco AB, ANEST IWATA Corporation, MAHLE GmbH, Valeo SA, and Toyota Industries Corporation.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Type
1.3.2 Market Segmentation by Lubrication Type
1.3.3 Market Segmentation by Portability
1.3.4 Market Segmentation by Pressure
1.3.5 Market Segmentation by Application
1.3.6 Market Segmentation by Country
1.3.7 Analysis Period
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
188.8.131.52 By Country
184.108.40.206 By industry participant
220.127.116.11 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
18.104.22.168 Positive Displacement
22.214.171.124.1.2 V Shaped
126.96.36.199.1.3 Tandem Piston
188.8.131.52.2.3 Lobe and Scroll
4.1.2 By Lubrication Type
4.1.3 By Portability
4.1.4 By Pressure
4.1.5 By Application
184.108.40.206 Industrial Manufacturing
220.127.116.11 Chemical and Cement
18.104.22.168 Oil and Gas
22.214.171.124 Food and Beverage
4.2 Value Chain Analysis
4.3 Market Dynamics
126.96.36.199 Increased use of Rotary Compressors
188.8.131.52 Use of Variable Frequency Drive (VFD) for compressors over gas turbines
184.108.40.206 Growing demand for compressors in oil and gas industry
220.127.116.11 Growing construction market in MEA region
18.104.22.168 Growth in MEA HVAC market
22.214.171.124 Volatility in Oil prices
126.96.36.199 High Initial Cost
188.8.131.52 Exploration for Natural Gas
184.108.40.206 Growing food and beverage industry
4.4 Porter’s Five Forces Analysis
Chapter 5. MEA Market Size and Forecast
5.1 By Type
5.1.1 Positive displacement, by Type
220.127.116.11 Positive displacement, by Reciprocating Type
18.104.22.168 Positive displacement, by Rotary Type
5.1.2 Dynamic, by Type
5.2 By Lubrication Type
5.3 By Portability
5.4 By Pressure
5.5 By Application
5.6 By Country
Chapter 6. Saudi Arabia Market Size and Forecast
Chapter 7. U.A.E. Market Size and Forecast
Chapter 8. Turkey Market Size and Forecast
Chapter 9. South Africa Market Size and Forecast
Chapter 10. Sudan Market Size and Forecast
Chapter 11. Rest of MEA Market Size and Forecast
Chapter 12. Competitive Landscape
12.1 Market Share Analysis of Key Players
12.2 Competitive Benchmarking of Key Players
12.3 Recent Activities of Major Players
12.4 Strategic Developments of Key Players
12.4.1 Mergers and Acquisitions
12.4.2 Product Launches
12.4.3 Client Wins
12.4.4 Facility Expansions
Chapter 13. Company Profiles
13.1 General Electric Company
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.1.3 Key Financial Summary
13.2 IDEX Corporation
13.3 Flowserve Corporation
13.4 Colfax Corporation
13.5 Burckhardt Compression Holding AG
13.6 Man SE
13.7 Gardner Denver Holdings Inc.
13.8 Kaeser Kompressoren SE
13.9 Ingersoll-Rand PLC
13.10 Mitsubishi Heavy Industries Ltd.
13.11 Accudyne Industries LLC
13.12 Atlas Copco AB
13.13 Kobe Steel Ltd.
13.14 ANEST IWATA Corporation
13.15 Zhe Jiang Hongwuhuan Machinery Co. Ltd.
13.16 MAHLE GmbH
13.17 Sanden Holdings Corporation
13.18 Valeo S.A.
13.19 Hanon Systems
13.20 Toyota Industries Corporation
For more information about this report visit https://www.researchandmarkets.com/research/qn9k9h/the_compressor?w=4
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KEYWORD: AFRICA MIDDLE EAST
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
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PUB: 03/25/2019 12:34 PM/DISC: 03/25/2019 12:34 PM