Global Integrally Geared Centrifugal Compressor Market 2018-2022
About Integrally Geared Centrifugal Compressor
An integrally geared centrifugal compressor is a multi-shaft compressor that comprises three-dimensional (3-D)impellers. These impellers operate at optimum speed in each stage of the compressor.
Technavio’s analysts forecast the global integrally geared centrifugal compressor market to grow at a CAGR of 5.13% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global integrally geared centrifugal compressor market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Integrally Geared Centrifugal Compressor Market 2018-2022
Technavio recognizes the following companies as the key players in the global integrally geared centrifugal compressor market: Atlas Copco, Ingersoll-Rand, MAN, MITSUBISHI HEAVY INDUSTRIES, Siemens, and Sundyne.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing use of tier-4 engines. The tier-4 engines are gaining popularity among customers as it strictly follows the Environmental Protection Agency regulations regarding emissions. Tier-4 engines have the capability to produce increased fuel efficiency thereby reducing the total cost of ownership of a diesel-based compressor reasonable for the oil and gas industry.”
According to the report, one driver in the market is rising demand from oil and gas industry. Integrally geared centrifugal compressors find their application in the extraction of crude oil to the point until the oil reaches customers through the corresponding pipelines.
Further, the report states that one challenge in the market is unpredictability in oil prices. The success or failure of the oil and gas industry is highly dependent on the pricing of crude oil. The continuous price decline or hikes will lead to supply-demand imbalance.
MITSUBISHI HEAVY INDUSTRIES