Global Rotating Equipment Market Size By Voltage Type (Low Voltage, Medium Voltage), By Product (Pumps, Compressors), By Industry (Oil And Gas, Power Generation), By Geographic Scope And Forecast

Rotating Equipment Market Size And Forecast

Rotating Equipment Market size was valued at USD 28.85 Billion in 2024 and is projected to reach USD 40.35 Billion by 2031, growing at a CAGR of 4.2% from 2024 to 2031.

Rapid industrialization coupled with the increasing demand for electric power and rising investments in the oil & gas industry is some factors accountable for driving the growth of the Global Rotating Equipment Market. Moreover, the Increasing adoption of IoTs leveraging artificial intelligence, and machine learning in the industrial sector are some other facts projected to raise the adoption of Rotating Equipment by the players in the future. The Global Rotating Equipment Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Rotating Equipment Market Definition

Rotating Equipment is a term commonly used in the oil and gas and process industries to describe mechanical components that use kinetic energy to move gases, fluids, and other process materials. These include, but are not limited to, engines, compressors, pumps, turbines, generators, blowers, and gearboxes. While rotating equipment plays an essential role in most operations, it is often managed separately from fixed equipment because it has different maintenance, design, and inspection requirements.

Besides, these types of equipment are generally a major safety concern because pump and compressor seals can leak. The material that leaks may catch fire, explode or cause serious health problems. The following precautions to do with rotating equipment should be practiced, a should be installed for critical items or where the consequences of a leak could be serious. Consideration should also be given to the structure of a closed-circuit TV (CCTV) system. Critical rotating equipment should have a focused fire water supply.

The closest firewater monitor will not only fight a fire but also deliver cooling for the equipment as it shuts down. It must be feasible to shut down all rotating equipment both remotely and with a manual switch at the location of the item. It must also be possible to isolate both the suction and the discharge, even if the equipment item is dripping or if it is on fire. The lube oil and seal oil systems should also be guarded, possibly with a manually activated water fog system.

Global Rotating Equipment Market Overview

The growth in the market is supported by the tremendous expansion in the Oil & Gas and Power generation industries. Owing to this demand the market for rotating equipment is expected to remain steady during the forecast period. Rotating machinery is a major and critical component of many mechanical systems in industrial plants, air and ground vehicles, and many other applications. Being a critical part of industrial plant set-ups, especially in process industries, rotating equipment is relied upon for the continuing functioning of the overall plant operations. They have more demand in physically demanding applications and hence face constant wear and tear during the operations. Any drop in operational reliability or failure of equipment can result in substantial losses, leading to a cascading effect across the chain. This may result in affecting the other industrial processes in a plant or at a location. Hence, the global demand for rotating equipment repair is likely to stay steady over the next few years.

In addition, increasing investment in infrastructure development projects will drive the growth of this market during the forecast period. Also, Technological developments in production make the manufacturing process smooth and time-saving tasks, thus driving the manufacturer’s need for high-quality performance equipment. For instance, the rising integration of Rotating Equipment with leveraging intelligent monitoring and control is significantly triggering the growth of the market. IoT apps are essential to delivering updates in real-time, including shipment and storage status, repair and proactive maintenance warnings, and details from the supply chain.

Industrial IoT enables rotating equipment suppliers to stay connected to their assets and, consequently develop new and lucrative business models which are set to drive the rotating equipment & services market. Integration of IoT with rotating equipment offers improved operating performance, less downtime, and increased productivity. Such advanced and beneficiary capabilities are explored to augment the market during 2021-2026. Developments of unique projects in these sectors assist in diversifying the Rotating Equipment Market. However, high installation costs and maintenance of rotating equipment are expected to limit the growth of the market during the forecasted period.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Rotating Equipment Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Rotating Equipment Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Rotating Equipment MarketSegmentation Analysis

The Global Rotating Equipment Market is Segmented on the basis of Voltage Type, Product, Industry, and Geography.

Rotating Equipment Market, By Voltage Type

• Low Voltage
• Medium Voltage
• High Voltage

Based on Voltage Type, the market is bifurcated into Low Voltage, Medium Voltage, and High Voltage. Global Rotating Equipment Market for the High Voltage segment is anticipated to be the largest over the estimated period. Such equipment is utilized as drives in the end-use industry where higher power is essential and as generators in power plants. In addition to this, they must function efficiently in harsh environments; thereby, low-maintenance operation and reliability are essential.

Rotating Equipment Market, By Product

• Pumps
• Compressors
• Turbines
• Agitators and Mixers
• Others

Based on Product, the market is bifurcated into Pumps, Compressors, Turbines, Agitators and Mixers, and Others. The pumps segment is undergoing significant growth in the Global Rotating Equipment Market due to several factors such as higher adoption of these pumps in several end-use industries such as oil & gas, water, and wastewater treatment, and mining industries.

Rotating Equipment Market, By Industry

• Oil & Gas
• Power Generation
• Mining
• HVAC
• Water
• Wastewater Treatment
• Others

Based on Industry, the market is bifurcated into Oil & Gas, Power Generation, Mining, HVAC, Water, and Wastewater Treatment, among Others. There are many rotating equipment used in this industry including Gas & Steam Turbines, Compressors, Pumps, Gearboxes, Reciprocating Engines, Diesel Engines, and many others. Gas compressors are used widely in oil and gas processing. It plays an important role in capital and operating costs. Pumps are one of the most essential rotating equipment employed in the oil and gas sector. The rapidly increasing share of offshore activities in the global hydrocarbon production mix along with many mature oilfields is expected to be the driving factor for boosting the demand for compressors globally.

Rotating Equipment Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

The Global Rotating Equipment Market is segmented geographically into North America, Europe, Asia Pacific, Latin America and the Middle East, and Africa. North America will be the largest market for rotating equipment during the projection period, followed by Europe and the Asia Pacific. The growth of this region is mainly attributed to the increasing demand for electric power in nations such as the U.S., Canada, and Mexico. Latin America will be the fastest-growing market for rotating equipment during the projection period, followed by the Asia Pacific and Middle East & Africa. The growth of this region is mainly attributed to growing investments in the oil & gas industry in countries such as Brazil, Venezuela, Ecuador, Colombia, and Argentina. The Asia Pacific will be the fastest-growing market for rotating equipment during the projection period. The growth of this region is mainly attributed to increasing investments in the oil & gas industry in countries such as China, India, Indonesia, and Malaysia.

Key Players

The “Global Rotating Equipment Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Siemens AG, General Electric, Grundfos, Flowserve Corporation, Mitsubishi Heavy Industries Group, Sulzer Ag, Elgi Equipments Limited, Hitachi, Ltd., and Ansaldo Energia.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In June 2020, Blackstone Industrial Services, a leading Canadian critical rotating equipment services company announced to acquire of the assets of Trican Pipeline & Industrial Services Business which is a subsidiary of Trican Well Service Ltd. To strengthen its position in the market to manage the growing competition.
• In June 2019, GE Power and Simec Atlantis announced their Strategic Partnership to Develop Tidal Stream Application at Commercial Scale.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Report Scope

Research Methodology of Market Research