Description

The North American prime mover market in the oil industry is highly conditioned by the oil and gas industry status, which has been hit over the past couple of years by the current economic downturn and price volatility. The North American oil and gas industry is dependant on oil prices, as upstream companies increase and decrease exploration and production activities according to price volatility. During the short term, this challenging landscape in the oil and gas sector is likely to recover driving prime movers sales which are expected to progressively return to its previous growth rate. The expected enhancement in upstream activities is likely to favor prime movers market growth.