Industrial Static Equipment Market Size (2024 - 2029)

The Industrial Static Equipment Market is projected to experience growth over the forecast period, driven by advancements in the oil and gas sector and the increasing demand from various industries such as pharmaceuticals, telecommunications, and manufacturing. The market encompasses a range of equipment, including valves, boilers, heat exchangers, and pressure vessels, with significant demand anticipated from the oil and gas industry due to its extensive operational requirements. Additionally, the food and beverage industry is expected to contribute to market expansion, fueled by the rising global consumption of processed foods. However, the market's growth trajectory has been influenced by external factors such as the COVID-19 pandemic, which temporarily disrupted industrial production and investment activities.

Market Size of Industrial Static Equipment Industry

Industrial Static Equipment Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 171.96 Billion
Market Size (2029) USD 213.67 Billion
CAGR (2024 - 2029) 4.44 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Industrial Static Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

Industrial Static Equipment Market Analysis

The Industrial Static Equipment Market size is estimated at USD 171.96 billion in 2024, and is expected to reach USD 213.67 billion by 2029, growing at a CAGR of 4.44% during the forecast period (2024-2029).

The exploration and refining of oil and gas have increased due to the remarkable progress made in the worldwide production of crude oil and other hydrocarbons. With the massive industrialization and urbanization that has resulted from the revolution in a variety of industries, including the automobile, pharmaceutical, telecommunication, and manufacturing, petroleum is now a crucial component of development.

  • The market numbers provided in the study indicate the overall sales of static industrial equipment across types, such as valves, furnaces/boilers, heat exchangers, and pressure vessels. The further market is also segmented into an end-user industry which indicates the sales of several types of static industrial equipment across several industries such as oil and gas, Power generation, Chemical & petrochemical, Water & Wastewater, Other Process industries, and other discrete industries.
  • The food and beverage industry is also among the major industries wherein the demand for static equipment is expected to grow further. The increasing consumption of processed and packaged foods globally is one of the major contributors to the growth of the industry. According to the US Census Bureau, total sales for retail and food services from May 2022 through July 2022 were up by 9.2% from the same period last year.
  • The oil and gas industry has been among the key contributors to the growth of almost all industries. This was due to the fact that power is required to run any industrial establishment, and until the recent developments in renewable sources, power was used to be fulfilled primarily by oil and gas.
  • The oil and gas industry is among the major consumers of static industrial equipment, such as boilers, furnaces, piping, and valves, as the entire oil exploration and production activity involves several processes that are carried out at different places.
  • The outbreak of COVID-19 has had a notable impact on the growth of the industrial sector, which in turn impacted the growth of the studied market. According to Eurostat, industrial production in the European Union declined by 7% in 2020. The decline in production activities has had an adverse impact on the demand for major industrial static equipment as major industries put a hold on future expansion activities and investment in establishing new facilities.

Industrial Static Equipment Industry Segmentation

The term "static equipment" refers to non-moving equipment in the oil and gas and process industries. Pressure vessels, heat exchangers, piping, storage tanks, valves, pressure relieving devices, boilers, furnaces/heaters, and structures are some examples. Pumps, compressors, turbines, electrical equipment, or instrumentation (I&E), on the other hand, are not considered static equipment because they do not move.

The study analyzes the market of various types of static equipment that do not have any moving parts. The study tracks the revenue accrued (first point of sale) from the sale of various product categories used in multiple applications. The study offers a detailed analysis of trends, market estimates & projections, and growth dynamics across various segments that include the type of product, end user, and region.

By Type
Valves
Gate, Globe, and Check
Ball Valves
Butterfly
Plug
Pressure Relief
Furnaces/Boilers
Heat Exchangers
Pressure Vessels
By End-user Industry
Oil and Gas
Power Generation
Chemicals and Petrochemicals
Water and Wastewater
Other Process Industries
Other Discrete Industries
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Industrial Static Equipment Market Size Summary

The Industrial Static Equipment Market is poised for significant growth over the forecast period, driven by the increasing industrialization and urbanization across various sectors such as oil and gas, power generation, and manufacturing. The demand for static equipment like valves, furnaces, heat exchangers, and pressure vessels is closely tied to the expansion of these industries, which are essential for achieving operational efficiency and meeting production targets. The oil and gas sector, in particular, remains a major consumer of static equipment due to its critical role in energy production and the complex processes involved in exploration and refining. Additionally, the food and beverage industry is contributing to the market's expansion, fueled by the rising global consumption of processed and packaged foods.

The Asia-Pacific region is expected to lead the market's growth, supported by favorable government policies, substantial foreign direct investment, and the presence of major industrial players. Countries like China and India are at the forefront, with significant investments in infrastructure and industrial development. The region's rapid urbanization and increasing demand for advanced water and wastewater management solutions further drive the need for static equipment. Major companies in the market are actively engaging in partnerships and product innovations to maintain their competitive edge, as evidenced by collaborations and new product launches aimed at enhancing efficiency and sustainability.

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Industrial Static Equipment Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Technological Trends

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Impact of COVID-19 on The Market

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Bargaining Power of Suppliers

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Valves

        1. 2.1.1.1 Gate, Globe, and Check

        2. 2.1.1.2 Ball Valves

        3. 2.1.1.3 Butterfly

        4. 2.1.1.4 Plug

        5. 2.1.1.5 Pressure Relief

      2. 2.1.2 Furnaces/Boilers

      3. 2.1.3 Heat Exchangers

      4. 2.1.4 Pressure Vessels

    2. 2.2 By End-user Industry

      1. 2.2.1 Oil and Gas

      2. 2.2.2 Power Generation

      3. 2.2.3 Chemicals and Petrochemicals

      4. 2.2.4 Water and Wastewater

      5. 2.2.5 Other Process Industries

      6. 2.2.6 Other Discrete Industries

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East and Africa

Industrial Static Equipment Market Size FAQs

The Industrial Static Equipment Market size is expected to reach USD 171.96 billion in 2024 and grow at a CAGR of 4.44% to reach USD 213.67 billion by 2029.

In 2024, the Industrial Static Equipment Market size is expected to reach USD 171.96 billion.

Industrial Static Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)