MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
The fifth Annual Middle East Rotating Machinery Technology and Innovation Conference and Showcase (ME RoTIC 2022) discussed latest technological advancements in rotating machinery across various industries. The event held until October 13 at Grand Hyatt Exhibition Center witnessed the participation of key players in the industry and featured technologies from the GCC and the world over, that will aid oil and gas producers, power generators, aviation industry, and more to enhance their productivity and be better efficient in today’s challenging environment, all while effectively addressing machinery maintenance and reliability concerns.
Benedict Samuel, executive director at Aldrich International, said: "It is a pleasure to host the 5th edition of the ME RoTIC 2022 conference. Rotating equipment plays an important part in most operations. Critical to process plants, they are often managed separately from fixed equipment as they have different design and maintenance requirements. Rotating machinery, such as compressors, pumps, engines, compressors, generators, steam turbines, gas turbines, turbo-expanders and more play a vital role in increasing productivity in the industrial world. We are glad that this conference will serve as a robust forum for experts to share best practices and strengthen connections."
The global static and rotating equipment market is projected to grow from $29.84 billion in 2021 to $38.90 billion in 2028 at a CAGR of 3.9 per cent in the 2021-2028 period. The rise in CAGR is attributable to the market’s demand and growth, development in the exploration and exploration of crude oil and other hydrocarbons.
ME RoTIC witnessed the presence of key service providers, R&D professionals, scientists and engineers who shed light on new trends in rotating machinery design, equipment reliability and advanced techniques, turbomachinery safeguarding, advanced diagnostics, enhanced instrumentation and lubrication excellence.
A high-net-worth technical conference, with latest innovations, ME RoTIC showcased new ideas, technology, business models and work practices. While the forum examined the role of engineering intelligence in the process of rotating equipment, it also brought to focus innovative solutions, along with an analysis and visualisation of current challenges. The conference also served as a platform to connect with both regional and international experts, focusing on all aspects of heavy rotating equipment.
MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
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