COVID-19 IMPACT SURVEY MAY 2020
Amid the COVID-19 crisis and the looming economic recession, the Crude Oil Desalter and Electrostatic Dehydrator market worldwide will grow by a projected US$12.5, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 1%. Single Stage Crude Oil Desalter, one of the segments analyzed and sized in this study, is forecast to grow at over 0.6% and reach a market size of US$40.3 by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Single Stage Crude Oil Desalter market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 0.7% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$0.1 to the region's size over the next 7 to 8 years. In addition, over US$0.1 worth of projected demand in the region will come from Rest of European markets. In Japan, the Single Stage Crude Oil Desalter segment will reach a market size of US$1.5 by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Crude Oil Desalter and Electrostatic Dehydrator market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 3% over the next couple of years and add approximately US$6.5 in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Crude Oil Desalter and Electrostatic Dehydrator market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Agar Corporation; Cameron; Canadian Petroleum Processing Equipment Inc. (CPPE); Croda International PLC; Custom Process Equipment; EN-Fab Inc.; ETI, a division of John Zink Company LLC; Forum Energy Technologies; Frames Group; GasTech Engineering LLC; Komax Systems Inc.; Mackenzie Hydrocarbons (Australia) Pty Ltd.; Petro Techna International Ltd.; SUEZ Oil & Gas Systems; VME Companies