Increasing number of oil refineries across the globe is likely to create lucrative growth opportunities for the market for sulphur recovery technology. Key players and manufacturers have been increasingly focusing on Europe, MEA and APEJ for further expansion of their business, which in turn will stimulate the growth of market for sulphur recovery technology.
Future Market Insights recently carried out an in-depth study based on the market for sulphur recovery technology, which in turn will be highly favorable for end-users. This has enabled analysts involved in the report development to disclose certain authentic information concerning market for sulphur recovery technology for the impending years. The report has displayed that the market for sulphur recovery technology will be expanding at a robust CAGR of 12.8% during the estimated period, 2017-2027, for reaching an assessment of more than US$ 2.7Bn by 2027-end.
Developing highly effective, innovative and advanced sulphur recovery technology is likely to be taken up as a noteworthy trend, which can have positive influence on the growth of market for sulphur recovery technology, worldwide. Analysts also made sure that they have answered to the overall concerns of industry partners and market viewers, with regards to the market for sulphur recovery technology.
What factors according to you indicate that growth of the market for sulphur recovery technology is being obstructed?
Well, analysis so far indicates that there has been considerable decrease in the prices of crude oil since the recent past, which has been obstructing the growth of market for sulphur recovery technology. This scenario has also resulted in cancellation of E&P projects on a larger basis, which in turn is restraining the global market growth as well.
Can you mention some beneficial information regarding countries in the market for sulphur recovery technology?
With regards to countries in the market for sulphur recovery technology, Latin America is likely to witness a decline in the region’s market growth during the anticipated period. APAC region is expected to take the lead with regards to revenue growth in the global market. China is likely to hold the lion’s share in the years to come. India is likely to prove lucrative for the global market in the coming years. MEA will emerge as a profitable region fir the global market.
What are the opportunities that has been prevailing for the growth of market for sulphur recovery technology?
Governments and regulatory authorities are planning to implement fair as well as favorable regimes, in order to support the growth of local oil and gas industry.
What have manufacturers in the market for sulphur recovery technology been investing their time on for expansion of the global market?
Manufacturers along with key players are making heavy investments in China, as the region holds lucrative growth opportunities for the expansion of their businesses as well as would help them in strengthening their position in the global market.
What factors according to you indicate that there would be significant growth of the market for sulphur recovery technology?
Increasing refineries especially in the developing regions have been contributing significantly towards growth of market for sulphur recovery technology in the impending years. Rising need for gas recovery has been fueling the demand for sulphur recovery technology across the globe.
Can you name the key stakeholders in the market for sulphur recovery technology?
Yes. Sure. The key stakeholders in the market for sulphur recovery technology are inclusive of Jacobs Engineering Group plc, Prosernat, CB&I, Fluor Corporation, John Wood Group Plc, Black and Veath Holding Company and Royal Dutch Shell plc.
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