About Gas Compressors
Gas Compressors are mechanical devices that increase the pressure of a gas by reducing its volume. Gas Compressors are basically similar to pumps, both increase the pressure on a fluid and both can transport the fluid through a pipe. As gases are compressible, the compressor also reduces the volume of a gas. They are used in many different applications from everyday items such as vacuum cleaners, automobiles, and air conditioners to large industrial scale compressors for chemical processing, jet engine propulsion, and natural gas processing and transmission. This has projected the growth of the global gas compressors market in the forecast period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.38% |
The gas compressor market is a dynamic and competitive landscape. Companies that can offer competitive prices, innovative technologies, and excellent service are well-positioned to succeed in this market.The Manufacturers having a strong hold in the market are Ariel Corporation, Atlas Copco AB, and General Electric. Analyst at AMA Research estimates that United States and European Manufacturers will contribute the maximum growth to Global Gas Compressors market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ariel Corporation (United States), Atlas Copco AB (Sweden), General Electric (United States), Siemens AG (Germany), Bauer Compressors Inc. (United States), Burckhardt Compression AG (Switzerland), Gardner Denver Inc. (United States), HMS Group (Russia), Howden Group Ltd (united Kingdom) and Ingersoll Rand PLC (Ireland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are CHKZ LLC (Russia).
Segmentation Overview
AMA Research has segmented the market of Global Gas Compressors market by Type (Positive Displacement (Reciprocating, Rotary) and Dynamic Displacement (Centrifugal, Axial)), Application (Upstream, Midstream and Downstream) and Region.
On the basis of geography, the market of Gas Compressors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. If we see Market by End Use Verticals, the sub-segment i.e. Steel will boost the Gas Compressors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising of CNG Outlets in the Developed and Developing Economies
Market Growth Drivers:
Increasing Oil and gas industry is the major driver of the global gas compressor market. Gas compressor demand in the midstream oil and gas industry is also expected to grow with the increase in exports and imports by gas producing countries such as the United States and Russia and gas-consuming countries such as China, India and the European countries respectively.
Challenges:
The adoption of substitute energy sources is restraining the market growth.
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Increasing High-Performance Compressors for Petrochemical and Natural Gas Industry and Growing Demand for Natural Gas in the Developing Economies Such as China and India
Market Leaders and their expansionary development strategies
In July 2023, Siemens Energy and Baker Hughes announced the formation of a joint venture focused on oil and gas production technologies, including gas compression solutions. This partnership could accelerate innovation and development in the gas compressor industry.
In September 2023, Atlas Copco launched its GA Atlas series of oil-free screw compressors, catering to the demand for clean and sustainable compressed air solutions.
Key Target Audience
Compressors Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.