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Turbo-compressor Market is Expected to Witness a Steady Growth by 2026

Press Release   •   Feb 14, 2017 00:44 EST

Turbo-compressor Market

Turbo-compressors are widely preferred for injecting and compressing gases. These compressors are more efficient in comparison to reciprocating compressors as they eliminate the pressure which develops in the injected gas. Turbo-compressors are primarily used for natural gas processing and transmission. Both, axial and centrifugal turbo-compressors are used in gas turbines for compression purposes. Innovations in products coupled with advancement in technology is expected to have a positive impact over the global turbo-compressor market.

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Based on product type, the hydraulic turbo-compressor is expected to dominate the product type segment during the forecast period. However, axial turbo-compressors are projected to grow at a significant rate during the forecast period. Axial turbo-compressors are widely preferred in steel plants, chemical industry, etc. Based on application, the oil & gas segment is estimated to dominate the market over the forecast period. Turbo-compressors are widely preferred in oil & gas industry for extraction, refining, etc.

Turbo-compressor Market: Drivers

Increase in LNG (liquefied natural gas) transport is anticipated to upsurge the demand for turbo-compressors during the forecast period. Furthermore, the emergence of new oil & gas industry in Middle East & Africa region is projected to escalate the demand for turbo-compressors in near future. Additionally, increasing adoption of turbo-compressors in the power generation processes is expected to create lucrative growth opportunities in near future.

Turbo-compressor Market: Restraints

Maturity of the product in the European market is expected to hamper the growth of global turbo-compressors during the forecast period. Moreover, introduction of new turbo-compressor technology like the rotary screw compressors is anticipated to restrict the growth of the global turbo-compressor market during the forecast period.

Turbo-compressor Market: Segmentation

The global turbo-compressor market can be segmented on the basis of product type, stage, output pressure and applications. On the basis of product type, the market can be segmented into axial turbo-compressors and centrifugal turbo-compressors. On the basis of stage, the global turbo-compressor market can be segmented into single stage and multiple stage. On the basis of output pressure, the market can be segmented into 0 bar – 20 bar, 21 bar – 100 bar and 100 bar and above. On the basis of application, the global turbo-compressor market is segmented into power generation, oil & gas, and others (pharmaceuticals, mining, etc.).

Turbo-compressor Market: Region Wise Analysis

On the basis of region, the Asia Pacific is expected to be the most promising and revenue generating region in the global turbo-compressor market due to the presence of large chemical plants, oil refineries, etc. In 2015, the Asia Pacific region held more than 60% share in the global chemical sales market. Moreover, rapid industrialization in Asia Pacific countries like India and China coupled with decline in oil prices is further projected to drive the growth in this region. North America and Europe are projected to witness steady growth during the forecast period. However, increasing LNG trade in North America is expected to fuel the demand for turbo-compressors in near future as they are widely used for storage and gas transportation. Middle East & Africa is expected to witness significant growth in near future. The growth of oil & gas sector in this region is anticipated to escalate the demand for turbo-compressors in this region.

Turbo-compressor Market: Market Participants

Some of the market participants identified in the global turbo-compressor market are mentioned below:

  • Sulzer Ltd.
  • Siemens AG
  • Mitsubishi Heavy Industries Compressor Corporation
  • General Electric
  • MAN Diesel & Turbo
  • Atlas Copco AB
  • Kawasaki Heavy Industries, Ltd.
  • Howden Group Ltd
  • Elliott Group
  • Ingersoll Rand

These days, the manufacturers of turbo-compressors have started coming up with providing customized products. These products enhance the overall efficiency of compressors and thus, are expected to propel the growth of global turbo-compressor market.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Report Highlights:

  • Detailed overview of parent market
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  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

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