Quantcast
Last updated on April 20, 2014 at 8:28 EDT

Expanding Manufacturing Facilities within Key End-user Segments Sustain the European Centrifugal Compressors Market, Finds Frost & Sullivan

October 7, 2013

Demand from Eastern Europe and Scandinavia likely to drive growth

LONDON, Oct. 7, 2013 /PRNewswire/ — The European centrifugal compressors market is expected to witness a period of steady growth as the region recovers from the economic downturn. The oil and gas, and power generation sectors are the key end users and increasing investments in gas-fired power plants are expected to drive the demand for centrifugal gas compressors in Europe.

New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), Strategic Analysis of the European Centrifugal Compressors Market, finds that the market earned revenues of $534.5 million in 2012 and estimates this to reach $583.0 million in 2017. The main end users covered in this research include the oil and gas, power generation, chemical processing, food and beverage, life sciences, and construction and mining.

“The current economic situation in Europe has prompted numerous end users to shift their manufacturing facilities to Eastern Europe,” said Frost & Sullivan Industrial Automation and Process Control Research Analyst Niranjan Paul. “This gives centrifugal compressor manufacturers an avenue for revenue generation in these high-growth areas, especially as the market in Central and Western Europe reaches maturity.”

The development of manufacturing facilities in the automotive as well as food and beverage industries will boost the centrifugal compressors market in Eastern Europe. Daimler, a leading automotive manufacturer, opened its first Mercedes-Benz manufacturing facility in Hungary in 2012 and is poised to undertake further extensions in Eastern Europe. Nestle S.A has also invested in expanding its factory in Hungary.

Despite these advancements, the economic slowdown has led several end users to move their production bases to low-cost regions such as Asia and Latin America, curbing market growth in Europe. Customer focus on the maintenance of existing equipment rather than the purchase of new systems has resulted in a decline in the sale of new compressors.

“To sustain profits, centrifugal compressor manufacturers must design energy-efficient and cost-effective compressors, particularly as end users are looking to optimise energy use,” stated Paul. “European Union legislations targeting a reduction in carbon footprint will have a positive impact on the centrifugal compressors market.”

The acquisition of niche market participants will also present opportunities for major manufacturers in this highly consolidated market.

If you are interested in more information on this research, please send an e-mail to Julia Nikishkina, Corporate Communications, at julia.nikishkina@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.

Strategic Analysis of the European Centrifugal Compressors Market is part of the Industrial Automation & Process Control Growth Partnership Service program. Frost & Sullivan’s related research services include: European Pumps Market for Food and Beverage Industry, Global Industrial Valves and Actuators Market, European Pumps Market for Commercial and Industrial Buildings, and European Centrifugal Pumps Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

    --  The Integrated Value Proposition provides support to our clients
        throughout all phases of their journey to visionary innovation
        including: research, analysis, strategy, vision, innovation and
        implementation.
    --  The Partnership Infrastructure is entirely unique as it constructs the
        foundation upon which visionary innovation becomes possible. This
        includes our 360 degree research, comprehensive industry coverage,
        career best practices as well as our global footprint of more than 40
        offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion

Join Us: Join our community

Subscribe: Newsletter on “the next big thing”

Register: Gain access to visionary innovation

Strategic Analysis of the European Centrifugal Compressors Market

M909-10

Contact:

Julia Nikishkina

Corporate Communications – Europe

P: +7 (499) 213 0156

E: julia.nikishkina@frost.com

LinkedIn: Frost & Sullivan’s Industrial Automation and Process Control Forum

Twitter: @FS_Automation

http://www.frost.com

SOURCE Frost & Sullivan


Source: PR Newswire