Industry Background:
Centrifugal compressors refer to the type of dynamic compressor which utilizes rotating impellers to compress a gas instead of a piston. It helps to increase the temperature and pressure of a gas by reducing its volume. It is also known as a radial compressor. It consists of several components such as inlet, volute, impeller, outlet pipe, radial diffuser, and others. Centrifugal compressor offers serval advantages such as a high-flow rate than the positive displacement compressor, a wide range of rotational speed, does not require a special foundation, suitable for continuous compressed air supply, relatively energy-efficient, among others.
According to AMA Research, the market for Centrifugal Compressors is expected to register a CAGR of 4.9% during the forecast period to 2030. This growth is primarily driven by Increasing Usage of Centrifugal Compressors in Various Application
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Dominating Type | Single Stage |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Heavy Electrical Equipment sector in the Asia-Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Atlas Copco (Sweden), Elliott Group (United States), Ingersoll-Rand plc (Ireland), Siemens AG (Germany), Baker Hughes (GE company) (United States), MAN Energy Solutions (Germany), Gardner Denver (United States), Kobelco Compressors America, Inc. (United States), Mitsubishi Heavy Industries, Ltd. (Japan), Hitachi Industrial Products, Ltd. (Japan), Hanwha Power Systems (South Korea), Kawasaki Heavy Industries Ltd. (Japan) and IHI Rotating Machinery Engineering Co., Ltd. (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On May 27, 2019 - Atlas Copco has acquired Air Compresseur service (ACS), a French company specialized in distribution of compressors and air solutions as well as related services.
On April 1, 2019 - Elliott Group announced today that the merger of Ebara International Corporation, based in Sparks, Nevada, with its operations in Jeannette, PA, is now complete.The number of companies operating in the centrifugal compressors market is limited. The level of competition among the companies in a centrifugal compressor is intense and manufacturers are focusing toward developing new technologies and offer a customized products to the customers. The companies are seeking ways to reduce cost, improve product quality and production efficiency. The centrifugal compressor market has also witnessed a declining number of manufacturers, due to the merger and acquisition of smaller manufacturers by the big organizations.
Influencing Trend:
Technological Development of ABS
Market Growth Drivers:
Increasing Usage of Centrifugal Compressors in Various Application and Rising Number of Floating Production Storage and Offloading Projects across the Globe
Challenges:
Design Complication Owing To Different Scenario Simulations
Restraints:
High Initial Cost of Centrifugal Compressor
Opportunities:
Increasing Popularity of High-Performance Electric Motorcycles
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Centrifugal Compressors Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Centrifugal Compressors Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Centrifugal Compressors players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Centrifugal Compressors Study Sheds Light on
The Centrifugal Compressors Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Centrifugal Compressors industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Centrifugal Compressors industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.