Global Rotating Equipment Market
Rotating Equipment Market Size And Forecast
According to Verified Market Research, The Global Rotating Equipment Market was valued at USD 1,20,725.2 Million in 2018 and is projected to reach USD 1,75,184.2 Million by 2026, growing at a CAGR of 4.87% from 2019 to 2026.
Global Rotating Equipment Market Outlook
The growth in the market is supported by the tremendous growth in the Oil & Gas and Power generation industries. Owing to this demand the market for rotating equipment is anticipated 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 transportation vehicles, and in many other applications. Being of the 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.
Rotating Equipment Market, Competitive Landscape
The Global Rotating Equipment Market is highly fragmented with the presence of a large number of players in the Global Market. Some of the major companies include Siemens AG, General Electric, Grundfos, Flowserve Corporation, Mitsubishi Heavy Industries Group, Sulzer Ag, Elgi Equipments Limited, Hitachi, Ltd., and Ansaldo Energia.
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