Table of Contents
US Shale Gas Revolution will Transform North American PD Pump Market
This market insight presents an outlook of the North American positive displacement (PD) pump market. The short-term outlook for the market is bright with the robust growth of in many end-user verticals. Driving forces contributing to market shifts include the increasing demand for unconventional oil and gas, investments in chemical, and the growth in food and beverage segments. This research is a compilation of information and analysis from key market participants and Frost & Sullivan’s in-house database to provide a comprehensive picture of the market scenario.
Executive Summary-Key Findings
-Growth in unconventional oil & gas and low energy costs are expected to give the North American firms, particularly the energy intensive firms, an edge over others in the global manufacturing arena.
-The shale gas boom drives record investments by foreign chemical manufacturers, amounting to $billion in the nextyears.
-Large projects that remained stagnant in early 2013 are moving from the Front-end Engineering Design (FEED) stage to next stage and long lead time products are being ordered, increasing the probability of projects being completed.
North America-Forecasting Model: Scenario Highlights
High (Flat Growth and Recovery)
-Economic data (GET–IT), industrial IIP, indicates that all the end-user industry (except pharmaceuticals) are experiencing growth.
-While the pace of growth has reduced, US shale boom continues to drive oil & gas and related industries. After 20 years, new refineries are planned and expected be built in the US (in Mid-west region).
-US chemical majors continue to announce plans for investment. Investments will peak in 2014 and 2015, even though the 2013 market is experiencing a delay in implementation due to regulatory issues.
-Looking ahead months, manufacturers responding to the Richmond Fed’s survey were mostly upbeat (published on 27 August 2013). In Dallas Fed’s Texas manufacturing outlook survey, expectations regarding future business conditions remained optimistic in August (published on 26 August 2013).
-After years of recession, major European countries are expected to move into positive industrial growth rate.
-The cycle for half year performance in the first half, especially Q1, is stronger than the second half due to budget depletion. But in 2013, global economic worry has put end-users in a cautionary mode, reducing demand in H1.
-Despite the slow downs in growth during Q1 2013, the pump market is expected to retain a positive growth trend in 2013 and 2014. Medium (Mature Market) Base Case
-The US shale boom continues to drive energy renaissance, downstream growth, and the overall investment climate.
-Oil prices will be below $ but above $ to drive shale oil investments.
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