Expected Mass Transfer Equipment Market
New York, United States, November 03, 2021 (GLOBE NEWSWIRE) – According to the report published by Research Dive, the global mass transfer equipment market should collect a revenue of $ 4,599.2 million by 2026, growing exponentially at a 7.1% CAGR during the forecast period 2019-2026. The comprehensive report provides a brief overview of the current market scenario including other aspects such as market dynamics, growth and restraining factors, challenges, and opportunities over the forecast period. The report also offers the market figures, which makes it easier and more efficient for new participants to understand the real-time scenario of the market.
For more detailed information, download a free sample copy of the report at: https://www.researchdive.com/download-sample/236
Factors Influencing CAGR Numbers Before and After COVID-19 Outbreak
The report reveals the real-time mass transfer equipment market CAGR during the pandemic. According to the report, the market is expected to grow at a CAGR of 7.1% during the forecast period, while it was projected to be 7.6% in the pre-COVID-19 scenario from 2019 to 2026. Major oil consuming countries have consequently decreased the use and processing of crude oil, due to the prevalence of blockages in various countries around the world. In addition, strict government restrictions on domestic and international flights have decreased demand for jet fuel around the world. These factors are expected to hamper the growth of the global mass transfer equipment market during the forecast period.
Factors Affecting Market Size Before and After the COVID-19 Outbreak
The real-time mass transfer equipment market size has shrunk significantly from pre-COVID-19 estimates, according to the report. The real-time market size reached a turnover of $ 1,979.8 million in 2020, while its estimates were $ 3,045.9 million during the pre-COVID scenario. The exorbitant cost of technologies and certain restrictions in the gas-liquid mass transfer process are expected to hamper the growth of the market. In addition, the rapid adoption of electric vehicles among people has taken a toll on the oil industry. These factors are expected to hamper the growth of the global mass transfer equipment market during the forecast period.
Connect with an analyst to reveal the impact of COVID-19 on the market: https://www.researchdive.com/connect-to-analyst/236
According to the report, the global mass transfer equipment market is expected to recover by the 2nd and 3rd quarters of 2022. However, the development of innovative technologies in the oil and gas industry to improve the application of mass transfer equipment. mass for separation and distillation is expected. to create massive opportunities for market growth. In addition, the development of creative equipment like the high speed axial cyclone separator for optimized dust particle separation is expected to further accelerate the growth of the global mass transfer equipment market in the post-pandemic era.
The major players in the mass transfer equipment market include –
- MTE Group
- Munters Group
- Sulzer SA
- Finepac Structures Pvt Ltd.
- HAT International Ltd.
- Tianjin Univtech Co., Ltd.
- Beijing Zehua Chemical Engineering Co., Ltd.
These market players focus on developing strategies such as new product launches, research and development, monitoring market trends, building a product portfolio, mergers and acquisitions, collaborations and business expansions. Educate yourself and get quick access to the summary report of the best business development strategies
For example, in February 2021, Kulicke and Soffa Industries, Inc., a leading provider of semiconductor, LED, and electronic assembly solutions, acquired Uniqarta, Inc., a US-based technology company, in order to to leverage Kulicke & Soffa’s innovation in high-precision next-generation solutions to enable wide adoption of feature-rich and cost-effective display technology.
The report also summarizes many important aspects including financial performance of key players, SWOT analysis, product portfolio and latest strategic developments.
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