Global Non-metallic Expansion Joints Market 2017-2021
About Non-metallic Expansion Joints
A non-metallic expansion joint is a compensator that absorbs thermal and mechanical shock or stress in a pipeline system for the smooth and efficient functioning of the system. The non-metallic expansion joints market comprises rubber joints, fabric joints, and PTFE joints that find their major application in the oil and gas industry. The market is segmented based on end-user and geography.
Technavio’s analysts forecast the global non-metallic expansion joints market to grow at a CAGR of 0.30% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global non-metallic expansion joints market for 2017-2021. To calculate the market size, the report considers the new installations.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Non-metallic Expansion Joints Market 2017-2021
Technavio recognizes the following companies as the key players in the global non-metallic expansion joints market: PARKER HANNIFIN, MACOGA, FLEXEJ, EagleBurgmann, and GARLOCK.
Other Prominent Vendors in the market are: Bikar, UNAFLEX, Clyde Bergemann Power Group, Metraflex, Global Flex, RADCOFLEX, and URJA.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use of combined cycle gas turbines. Gas turbines are engines that can convert natural gas or any other form of fuel energy into mechanical energy to generate electricity for daily operational activities of a power plant. Gas turbines have evolved over the years since the inception of the first simple cycle model in 1939. Back then it had nearly 18% thermal efficiency. Now simple cycle gas turbines have attained thermal efficiency of around 46%.”
According to the report, one of the major drivers for this market is Shale gas boom Shale gas boom. The rising population and the present economic volatility demand for alternative renewable and sustainable sources of energy. This has led to the shale gas boom in the US, Canada, China, and Argentina. The incremental growth in natural gas production worldwide is estimated to be 212 billion cubic feet per day (Bcf/d), by the US Energy Information Administration, between 2015-2040. As per the Federal Agency, natural gas from shale gas reserves will be the biggest contributor to this growth.
Further, the report states that one of the major factors hindering the growth of this market is Intense competition among vendors. The market is highly fragmented and there exists a lot of vendors that are engaged in price wars. Consumers expect high-quality products at a minimum price. Hence, manufacturers drop prices at opportune situations to capture the market. Small and medium-sized customers benefit from this, and the price wars continue.
PARKER HANNIFIN, MACOGA, FLEXEJ, EagleBurgmann, GARLOCK, Bikar, UNAFLEX, Clyde Bergemann Power Group, Metraflex, Global Flex, RADCOFLEX, and URJA.
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