Regions, Markets & Services
Downloads Condensed Annual Reports
Regions
In Western Europe, activities at Hertel continue to be mainly based on maintenance services. This is an area in which the company expects stable but limited growth in the near to medium term.
Although dependent on global economic developments and oil price developments, planned investments in the Middle East are looking positive. As a relative newcomer, Hertel’s hard work to consolidate its position in this region is paying off. We are shifting activities from only projects to also include maintenance activities while the booming construction industry of the Middle East offers new opportunities.
In Asia, activities at Hertel are centred around Access Solutions, Insulation and Corrosion Protection, mainly in the Oil & Gas and Chemical sectors. The level of investment by current key customers in Oil, Gas and Chemicals in this region is rising, giving Hertel positive prospects.
In Australia, the expected strong growth in the LNG sector has indeed materialised. However, some important projects in which Hertel is involved have incurred delays.
Markets
In Hertel’s portfolio of services, we foresee continued stable growth for the Oil & Gas industries. LNG production has experienced strong growth, above all, in Australia. Demand for LNG has also grown quickly, which has led to major investments for the development of gas liquefaction plants. In the Process industry and Chemicals, stable market growth is predicted for the coming years. However, there will be discrepancies between the various regions in which Hertel operates. For the Energy industries, expectations are moderately positive. The market is thought to have bottomed out, with limited growth expected over the coming years. The Offshore market is expected to demonstrate solid, stable growth.
Services
In Hertel’s European markets, a relatively high proportion of the performed activities consist of maintenance services around the large installed base of industrial assets. These services – Access Solutions, Insulation, Corrosion Protection and Mechanical – are closely interlinked and support the entire life cycle of industrial assets. From initial construction (projects) to ongoing operations (maintenance) and upgrades/decommissioning (projects). The market for maintenance services is relatively stable because of the available installed base of industrial assets, which is determining demand.
In the Middle East, Asia and the Pacific regions, Hertel focuses mainly on new build projects that present good opportunities for maintenance to develop once construction is completed. Hertel will benefit from sizeable upstream and downstream investments, which started back in 2011 and are expected to peak between 2013 – 2015. The outlook for the development of projects in these regions as a whole remains strong.
In Western Europe, activities at Hertel continue to be mainly based on maintenance services. This is an area in which the company expects stable but limited growth in the near to medium term.
Although dependent on global economic developments and oil price developments, planned investments in the Middle East are looking positive. As a relative newcomer, Hertel’s hard work to consolidate its position in this region is paying off. We are shifting activities from only projects to also include maintenance activities while the booming construction industry of the Middle East offers new opportunities.
In Asia, activities at Hertel are centred around Access Solutions, Insulation and Corrosion Protection, mainly in the Oil & Gas and Chemical sectors. The level of investment by current key customers in Oil, Gas and Chemicals in this region is rising, giving Hertel positive prospects.
In Australia, the expected strong growth in the LNG sector has indeed materialised. However, some important projects in which Hertel is involved have incurred delays.
Markets
In Hertel’s portfolio of services, we foresee continued stable growth for the Oil & Gas industries. LNG production has experienced strong growth, above all, in Australia. Demand for LNG has also grown quickly, which has led to major investments for the development of gas liquefaction plants. In the Process industry and Chemicals, stable market growth is predicted for the coming years. However, there will be discrepancies between the various regions in which Hertel operates. For the Energy industries, expectations are moderately positive. The market is thought to have bottomed out, with limited growth expected over the coming years. The Offshore market is expected to demonstrate solid, stable growth.
Services
In Hertel’s European markets, a relatively high proportion of the performed activities consist of maintenance services around the large installed base of industrial assets. These services – Access Solutions, Insulation, Corrosion Protection and Mechanical – are closely interlinked and support the entire life cycle of industrial assets. From initial construction (projects) to ongoing operations (maintenance) and upgrades/decommissioning (projects). The market for maintenance services is relatively stable because of the available installed base of industrial assets, which is determining demand.
In the Middle East, Asia and the Pacific regions, Hertel focuses mainly on new build projects that present good opportunities for maintenance to develop once construction is completed. Hertel will benefit from sizeable upstream and downstream investments, which started back in 2011 and are expected to peak between 2013 – 2015. The outlook for the development of projects in these regions as a whole remains strong.
