Detailed insights on "Refinery Service & Maintenance Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025"
Albany, NY -- (SBWIRE) -- 04/17/2018 -- Refinery service and maintenance can be defined as a set of activities undertaken to keep refineries in good operational condition while compensating for normal wear and tear. It includes servicing and maintenance of refinery parts such as reactors, columns, pipes, heat exchangers, electrical units, rotary equipment, and instrumentation. It is usually carried-out by companies that construct refineries as part of their contracts with refinery owners.
The global refinery service and maintenance market is primarily driven by the rise in demand for processed fuels and the subsequent increase in the number and capacity of refineries. Maintenance and service are basic requirements of all products and in this case, refineries. However, in the past few years, this aspect has become more crucial owing to rigid environment regulation imposed by governments. This is another major factor driving the global refinery service and maintenance market. On the other hand, fluctuating oil prices have resulted in a fall in the profits of refineries, which has in turn led them to defer refinery maintenance activities. This is one of the major inhibitors of the global refinery service and maintenance market. The market is highly competitive in nature and results in a spiraling cost of providing the service. This is the case because companies try to provide more options and better service products. This has in turn affected the profit margins of service providers, thereby inhibiting the market.
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The global refinery service and maintenance market can be trifurcated based on type, refinery size, and region. In terms of type, the refinery service and maintenance market can be bifurcated into turnaround and maintenance. Maintenance is the routine servicing of refineries carried-out at regular intervals. Turnaround is composed of repairs during and/or at the completion of a process cycle. It includes replacement of a component or equipment.
In terms of refinery size, the refinery service and maintenance market can be classified as small-scale, medium-scale, and large-scale. Classification is derived from the production capacity of refineries; with small-scale refineries are classified as those under 100,000 bbl/d capacity, medium-scale refineries include those ranging between 100,001 bbl/d and 200,000 bbl/d capacity, and large-scale refineries are those refineries having more than 200,001 bbl/d capacity.
In terms of region, the global refinery service and maintenance market can be segmented into North America, Latin America, Middle East & Africa, Europe, and Asia Pacific. In 2016, Asia Pacific and Middle East & Africa cumulatively accounted for a key share of the market.
Key player operating in the global refinery service and maintenance market include Intertek Group Plc., Clariant International Ltd., General Electric Plc., KIEL Industrial Services AG, Ramboll Group A/S, Arcum Group of Companies, OWS Technical Services, ABB Group, Aker Solutions, CH2M HILL, and Saipem S.p.A.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry's value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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