SOURCE: Industrial Info Resources

Industrial Info Resources

February 02, 2015 06:10 ET

Industrial Market Outlook: Industrial Info Forecasts $206 Billion in Project Spending in 2015, as Low Oil & Gas Prices Shake Up Industry

SUGAR LAND, TX--(Marketwired - Feb 2, 2015) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Plunging prices for crude oil and other commodities have shaken the global Oil & Gas Industry to its core, causing project developers to reevaluate project timelines, leading to delays. Just since December 2014, the U.S. has seen a $41.74 billion drop in forecasted capital spending for 2015, according to Industrial Info's data. Nonetheless, the U.S. is looking at an estimated $206.45 billion in construction start-ups in 2015, a 2.8% increase from last year, according to presenters at Industrial Info's most recent Industrial Market Outlook, held January 29 in Houston, Texas.

Within this article: Details from Industrial Info's annual global outlook on how the plunging prices are affecting numerous industries worldwide.

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Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.

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