Rotating Equipment and Service Market - Forecast(2021 - 2026)
Rotating Equipment and Services Market Overview Rotating Equipment Market size is projected to reach $90.1 billion by 2026 and it is estimated to grow at a CAGR 3.61% during the forecast period 2021-2026 and Service market size is estimated to reach $26.2 billion by 2026 growing at around a CAGR 4.2% between 2021 and 2026. The growth of Rotating Equipment and Services Market is majorly attributed to the rapid industrialization coupled with increasing oil and gas exploration activities to cater to the growing demand for energy across the globe. Increasing adoption of IoTs leveraging artificial intelligence, machine learning in industrial sector to gain real-time actionable insights increasing the equipment efficiency has also contributed to the growth of the market. The burgeoning demand for rotating equipment including pumps, turbines and compressors in oil & gas, Food & beverage or power generation sector to move fluid, gases and other process materials utilizing kinetic