Pumps and Valves Services Market in the Middle East 2017-2021
About Pumps and Valves Services
Pumps are mechanical devices that are used to transfer fluids from a source to a delivery point. They are required in almost all sectors to transport oil, water, and slurry from place to place. On the other hand, valves are devices that controls the passage of fluid through pipes and ducts, and are required to allow the movement of fluid in one direction.
Valves are responsible in maintaining the flow of fluid through any pipe or duct and can be used to start, stop or throttle the flow of liquid. The main aim of the valves is to ensure safety and efficiency of the process. The demand of pumps and valves is majorly driven by the oil and gas industry as the core of the business involves handling oil/oil products, and throughout the plant, there are requirements of pumps and valves to transport the fluid and maintain safety.
Technavio’s analysts forecast the pumps and valves services market in the Middle East to grow at a CAGR of 9.17% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the pumps and valves services market in the Middle East for 2017-2021. To calculate the market size, the report considers the new installations, retrofit, replacements, spares, commissioning and decommissioning, as well as maintenance services..
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Pumps and Valves Services Market in the Middle East 2017-2021
Technavio recognizes the following companies as the key players in the pumps and valves services market in the Middle East: Gates, General Electric (GE), KSB, and LEWA
Other Prominent Vendors in the market are: Weir, MEOS, Nasico, Sulzer, Grundfos, SPP Pumps, Trinity Holding, Hydro Middle East, and PowerFlow Middle East.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing adoption of intelligent pumps in GCC. The increasing focus on energy-efficient equipment and the rising awareness is influencing the adoption of intelligent pumps. Intelligent pumps have the capability to adjust the process changes in the pump systems and operate only when all the circumstances and conditions are checked to be safe.”
According to the report, one of the major drivers for this market is Significant growth in the pumps and valves market. The increasing production of oil and gas, petroleum and petrochemical products, along with the trends of water and wastewater treatment have increased the demand of pumps and valves market. Most of the industries are undertaking new exploration activities and pipeline projects, owing to the high demand for transporting oil and recycled water within industries. Pumps and valves are the key components. and the services related to their market are the basic requirements to maintain operations and sustain production in industries.
Further, the report states that one of the major factors hindering the growth of this market is Increasing labor cost and standardization in service. The services required by pumps and valves need highly skilled labor to achieve proper and continuous operations in process industries. However, the presence of unskilled labor and the lack of adequate expertise in the concerned market is a major threat. In addition, the rising labor costs have also become a major issue for vendors. These services require professional supervisors, skilled technicians, as well as unskilled labor for different tasks. The percentage increase in labor costs is a challenge for vendors offering services related to the pumps and valves market. It becomes difficult to retain the existing staff and maintain the required workforce.
Gates, General Electric (GE), KSB, and LEWA, Weir, MEOS, Nasico, Sulzer, Grundfos, SPP Pumps, Trinity Holding, Hydro Middle East, and PowerFlow Middle East.
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