The total Chinese process gas compressors market generated revenue of $ million in 2014. The market is expected to grow at a compound annual growth rate (CAGR) of % between 2014 to 2021.
However, China faces years of slowing gross domestic product (GDP) growth, which is likely to slow the growth of process gas compressors due to overcapacity and decreasing domestic demand.
When compared with rotary compressors and reciprocating compressors, centrifugal compressors will remain the leading product segment over the forecast period.
Advancements within centrifugal and rotary compressors will see reciprocating compressors’ market share fall as they are replaced with other product types due to their increased efficiency and reduced maintenance.
Replacements and retrofits from the increased demand of plant automation at operation sites have boosted the demand for process gas compressors.
Increased expenditure in gas distribution and transportation is the main factor driving the demand for process gas compressors in China.
Eastern China has the highest regional concentration of process gas compressors production.
About this report
This research service analyzes the current and future trends in the Chinese process gas compressors market. Analysis is based on different end-user industries, and the impact of various market drivers, restraints, and challenges are discussed on a time scale. The research also provides market share analysis of the total market. The study includes the impact of urbanization, the global economic status, and the Chinese economic transformation. The process gas compressors market shows a growing awareness of automation and energy efficiency which brings reliability and quality within the overall framework of technology upgrades that are driving up prices. The forecast period is from 2015 to 2021, with 2014 as the base year.
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