Gas Compressors Market to grow by USD 2.50 billion from 2022 to 2027, Need for energy-efficient compressor systems to drive the growth - Technavio

NEW YORK, Oct. 25, 2023 /PRNewswire/ -- The gas compressors market is expected to grow by USD 2.50 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 4.93% during the forecast period. The market is segmented by product (PD compressors and roller crushers), end-user (oil and gas, power generation, chemicals and petrochemicals, mining, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The need for energy-efficient compressor systems is a key factor driving market growth. Replacing older gas engines with new energy-efficient gas engines has been an incentive for the oil and gas industry to cut its energy consumption. Reducing carbon emissions and making the industry more environmentally friendly is an important objective of increasing energy efficiency. The report analyses the market size and growth and provides accurate predictions of the market's growth. View PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the gas compressors market: Accudyne Systems Inc., Aerzener Maschinenfabrik GmbH, Ariel Corp, Atlas Copco AB, BAUER COMPRESSORS INC, BOGE KOMPRESSOREN GmbH and Co. KG, Burckhardt Compression Holding AG, Ebara Corp., Elgi Equipments Ltd, General Electric Co., Hitachi Ltd., IDEX Corp., Ingersoll Rand Inc., J.P Sauer and Sohn Maschinenbau GmbH, KAESER KOMPRESSOREN SE, Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., Siemens Energy AG, and Sulzer Ltd.
• Gas Compressors Market is fragmented in nature.
• Market to observe 4.04% YOY growth in 2023.

Market Dynamics:

Major Trend

• Rising focus on economy and energy security is a major trend in the market.
• As soon as the trend of declining oil prices ends, improved biogas will prove to be an effective alternative fuel.
• The demand for improved biogas, which will lead to an increase in the production of enhanced biogas, is driven by favorable government incentives and policies.

Significant Challenge

• The volatility in oil and gas prices is a significant challenge restricting market growth. 
• As a result of the recent fall in oil prices, NGV sales are expected to be hit globally and the installation of CNG refuel points is likely to be affected.
• Demand for gas compressors in refueling stations is likely to be reduced as a result.
• The prospects of adoption of the NGV have been reduced, however, because it is becoming more expensive than gasoline-engine vehicles due to a large fall in oil prices.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

• The market share growth of the PD compressors segment will be significant during the forecast period. PD compressors such as reciprocating piston compressors, rotary screw compressors, and rotary vane compressors capture a certain volume of air in a chamber and then shrink the chamber to compress the air. Furthermore, the size of rotary screw compressors ranges from about 25-300 Hp. 

Get a glance at the market contribution of the segments, Request a Sample  

Related Reports:

The Air Compressor Market in the Oil and Gas Industry size is estimated to grow at a CAGR of 4.1% between 2023 and 2027. The market size is forecast to increase by USD 2,287.43 million.

The gas sensors market size is estimated to grow by USD 719.28 million accelerating at a CAGR of 9.98% between 2023 and 2027. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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