Turbocompressor Market by Type (Centrifugal & Axial), Application (Oil & Gas, Chemical, and Power Generation), Stage (Single & Multi), Output Pressure (0–20, 21–100, Above 100 Bar), and by Region - Global Trends & Forecasts to 2021
The turbocompressors market is projected to reach USD 15.81 billion by 2021, growing at a CAGR of 5.4% from 2016 to 2021. Factors such as the rapid growth of the manufacturing sector in South Asian countries and increasing investments in sectors other than oil & gas in the Middle East are driving market growth.
“Oil & Gas: The largest and fastest growing end-user segment in the turbocompressors market”
The oil & gas sector is the largest end-user of turbocompressors. Turbocompressors are used in almost all the stages of the oil & gas industry, from extraction to refining, transport, and storage. Given the increasing LNG trade between nations, the demand for turbocompressors is expected to increase in the future. To minimize losses, major players have suspended or cancelled exploration and drilling investments. However, the growing demand for chemical and petrochemical derived products, coupled with low oil prices, has ensured the steady growth of the downstream oil & gas industry. The increasing investments in petrochemical industries are a key factor spurring the growth of the turbocompressors market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, corporate-level executives of major market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 20%, Tier 2- 45%, and Tier 3- 35%
By Designation: Director Level- 35%, Corporate Level- 25%, and Others- 40%
By Region: Americas- 45%, Europe, Middle East, & Africa- 30%, Asia-Pacific- 25%
Note: Others include sales, marketing, and product managers.
The tier of the companies has been defined on the basis of their total revenue; as of 2015, Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = <USD 1 billion.
Leading players in this industry have been profiled, along with their recent developments and other strategic activities. These include Ingersoll Rand PLC (Ireland), Siemens AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), General Electric (U.S.), and Atlas Copco (Sweden).
To define, describe, and forecast the global turbocompressors market by type, output pressure, stage, application, and region
To provide detailed information regarding the major factors influencing the growth of the turbocompressors market (drivers, restraints, opportunities, industry-specific challenges, winning imperatives, and burning issues related to the market)
To strategically analyze the market with respect to individual growth trends, future prospects, and contribution of each segment to the market
To analyze opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
To forecast the market size of segments with respect to six major regions (along with key countries)—namely, North America, Asia-Pacific, Europe, South America, the Middle East, and Africa
To strategically profile key players and comprehensively analyze their core competencies
To track and analyze competitive developments such as contracts & agreements, mergers & acquisitions, new product developments, and expansions in the turbocompressors market
Key Target Audience
Turbocompressor Manufacturing Companies
Oil & Gas, Chemical, and Power Companies
Oil & Gas Refineries
Oil & Gas Transport Companies
Governments And Industry Associations
Consulting Companies in The Energy & Power Sector
BY STAGE – Single Stage and Multi-Stage
BY OUTPUT – 0 Bar to 20 Bar, 21Bar to 100 Bar, Above 100Bar
BY TYPE – Centrifugal and Axial
BY APPLICATION – Oil & Gas, Chemical Processing, Power Generation, and Others (Water and Wastewater treatment, mining, plastics, and pharmaceutical).
BY REGION – North America, South America, Asia-Pacific, Europe, the Middle East, and Africa.