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Global Compressor Market - Segmented by End-user, Type, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Global Compressor Market - Segmented by End-user, Type, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Power generation, oil & gas, and manufacturing sector are the biggest consumers of the compressors. The gas is increasingly replacing the oil and coal as an energy source in transportation as well as power generation sector. In order to fulfill the growing gas demand, the large investments to build the gas pipeline network are expected across the globe. The compressors are an integral part of gas transportation infrastructure. Hence, growing gas pipeline network is expected to be one of the most significant drivers for the compressor market during the forecast period. Apart from that, the emerging countries, such as India, Vietnam, and Malaysia are encouraging the foreign investments in the manufacturing through government programs, which, in turn, is expected to drive the manufacturing sector, in turn supporting the demand for compressors during the forecast period.

Growing Demand for Compressors in Power Industry to Drive the Market

Rising power demands in emerging markets, such as India, China, Brazil, and Mexico are expected to drive the natural gas market in power generation sector. Apart from that, global demands for natural gas is expected to rise because natural gas is more environment-friendly compared to other fossil fuel and there is a global trend towards consumption of cleaner fuel owing to concerns about air pollution and global warming. The growing share of gas-fired power generation is expected to help drive the gas compressor demand in power industry during the forecast period, in turn driving the global compressor market.

Technological Advancements to Help Drive the Market

Technological advancements to make the compressor more energy efficient and environmental friendly is expected to make replacing the higher number of existing conventional compressor units economically viable, which, in turn, is expected to increase the demand for the compressors. A good example is, in 2013, Atlas Copco launched GA VSD+ compressor. This model has registered substantial success because it reduces the energy consumption by up to 50% compared to the conventional compressor, making replacement of old compressor with advanced compressor an economically viable option.

Asia-Pacific Region to experience Substantial Market Growth

Asia-Pacific is home to some of the largest consumer and largest importer countries of natural gas in the world. This region is still primarily dependent on oil and coal for its energy needs. But recent trend is towards increasing use of natural gas owing to growing concerns over the air pollution. Power generation and manufacturing industry are the biggest consumers of natural gas in this region. Increasing demand for electricity in countries, such as India and China is expected to drive natural gas demand. Urbanization and increasing middle class in countries in Asia-Pacific region are expected to drive the growth of residential gas consumption. The growing gas consumption is expected to help drive the gas compressor demand in midstream gas industry, as well as power and manufacturing industry. Apart from that, India is focusing on increasing the share of manufacturing sector in its GDP. India aims to increase the share of industrial sector from 16% to 25% during 2016-25. The growth of the manufacturing sector in the country is expected to help drive the demand for the compressors, in turn supporting the market growth during the forecast period.

Key Developments in the Market

February 2018: Maersk Oil has awarded to contract to Baker Hughes GE (BHGE) to provide turbomachinery, including gas compressors, for Tyra field redevelopment project in Danish North Sea area. The order includes seven compressor trains, equipped with active magnetic bearing (AMB) solution for driver and driven equipment

The major players include - Atlas Copco, General Electric Company, Ingersoll Rand PLC, Siemens AG, Sulzer AG, Wuzi Compressor Co ltd, Aerzener Maschinenfabrik GmbH, Ariel Corporation, Bauer Compressors Inc, Ebara Corporation, Gardner Denver, Wärtsilä Corporation, among others.

Reasons to Purchase This Report

Current and future compressor market outlook in the developed and emerging markets

Analyzing various perspectives of the market with the help of Porter’s five forces analysis

The segment that is expected to dominate the market

Regions that are expected to witness fastest growth during the forecast period

Identify the latest developments and strategies employed by the major market players

3-month analyst support, along with the Market Estimate sheet (in excel)

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1. Executive Summary
2. Research Methodology
2.1 Scope of the Report
2.2 Market Definition
2.3 Study Assumptions
2.4 Study Deliverables
2.5 Research Phases
3. Market Overview
3.1 Introduction
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
3.4 Government Policies and Regulations
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Value Chain Analysis
6. Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Intensity of Competitive Rivalry
7. Market Segmentation and Analysis (Overview, Market Size and Demand Forecast until 2023)
7.1 By End User
7.1.1 Oil & Gas
7.1.2 Power Sector
7.1.3 Manufacturing
7.1.4 Food & Beverages
7.1.5 Others
7.2 By Type
7.2.1 Rotary Compressor
7.2.2 Reciprocating Compressor
7.2.3 Centrifugal Compressor
8. Regional Market Analysis (Overview, Market Size and Demand Forecast until 2023)
8.1 North America
8.1.1 United States
8.1.2 Canada
8.1.3 Mexico
8.2 Asia-Pacific
8.2.1 China
8.2.2 Japan
8.2.3 India
8.2.4 Rest of Asia-Pacific
8.3 Europe
8.3.1 Germany
8.3.2 France
8.3.3 United Kingdom
8.3.4 Spain
8.3.5 Rest of Europe
8.4 Middle East
8.4.1 Saudi Arabia
8.4.2 United Arab Emirates
8.4.3 Kuwait
8.4.4 Rest of Middle East
8.5 Africa
8.5.1 South Africa
8.5.2 Egypt
8.5.3 Nigeria
8.5.4 Rest of Africa
8.6 South America
8.6.1 Brazil
8.6.2 Argentina
8.6.3 Rest of South America
9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)
9.1 Atlas Copco
9.2 General Electric Company
9.3 Ingersoll Rand PLC
9.4 Siemens AG
9.5 Sulzer AG
9.6 Wuzi Compressor Co ltd
9.7 Aerzener Maschinenfabrik GmbH
9.8 Ariel Corporation
9.9 Bauer Compressors Inc
9.10 Ebara Corporation
9.11 Gardner Denver
9.12 Wärtsilä Corporation
10. Competitive Landscape
10.1 Mergers and Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players
11. Appendix
11.1 Contact Us
11.2 Disclaimer
*List not Exhaustive
**Subject to availability to public domain

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