Reciprocating Compressor Market to Reach $7.2 Billion, Globally, by 2032 at 4.2% CAGR: Allied Market Research

News provided by

Dec 13, 2023, 10:40 ET

Rapid industrialization in emerging countries, and development in the oil & gas sector drive the growth of the global reciprocating compressor market.

WILMINGTON, Del., Dec. 13, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Reciprocating Compressor Market by Type (Single Acting, Double Acting, and Diaphragm), Stage Type (Single Stage and Multi Stage), and End User (Oil and Gas, Pharmaceutical, Chemical Plants, Refrigeration Plants, Food, Manufacturing, Automotive, and Others): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report, the global reciprocating compressor industry generated $4.9 billion in 2022, and is anticipated to generate $7.2 billion by 2032, witnessing a CAGR of 4.2% from 2023 to 2032.

Request Sample PDF @ https://www.alliedmarketresearch.com/request-sample/8458

Prime determinants of growth

Rapid industrialization in emerging countries and development in the oil & gas sector drive the growth of the global reciprocating compressor market. However, the high investment and maintenance cost restricts the market growth. Moreover, technological advancements across developed and developing economies presents new opportunities in the coming years.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$4.9 billion
Market Size in 2032	$7.2 billion
CAGR	4.2 %
No. of Pages in Report	220
Segments covered	Type, Stage Type, End User, and Region.
Drivers	Rapid industrialization in developing countries Growth in the oil & gas sector
Opportunities	Technological advancements
Restraints	High Investment and Maintenance Cost

The double acting segment to maintain its leadership status throughout the forecast period

Based on type, the double acting segment held the highest market share in 2022, accounting for nearly half of the global reciprocating compressor market revenue and is estimated to maintain its leadership status throughout the forecast period. The double acting compressor compresses the air on both the up-stroke and the down-stroke of the piston, doubling the capacity of a cylinder size. It is commonly used in various applications such as industrial processes, pneumatic tools manufacturing operations and others. However, the single acting segment is projected to manifest the highest CAGR of 4.9% from 2023 to 2032. Single acting compressors are used in various applications such as borewell, chemical industries, circuit breaking, spray painting, pneumatic tools, liquid transfer, and others. Growth in these industries is driving the market growth.

Buy This Research Report (220 Pages PDF with Insights, Charts, Tables, Figures) @ https://www.alliedmarketresearch.com/checkout-final/cfbebe4be0b2b32cbbdc63e46cf5c2c9

The multi stage segment to maintain its leadership status throughout the forecast period

Based on stage type, the multi stage segment held the highest market share in 2022, accounting for nearly three-fourths of the global reciprocating compressor market, and is estimated to maintain its leadership status throughout the forecast period. The multi-stage compressors generate higher volumes of pressure (PSI) at medium to high capacities (CFM) and easily pull off heavy-duty industrial applications. They are also used for super-heavy-duty applications that require a pressure of up to 6000 PSI. These compressors are suitable to handle air as well as other non-corrosive gases. Multi-stage compressors can control air temperature better than any other air compressor. However, the single stage segment is projected to manifest the highest CAGR of 4.5% from 2023 to 2032, owing to its various applications such as workshops, auto shops, gas stations, manufacturing plants, chemical plants, and others.

The manufacturing segment to maintain its lead position during the forecast period

Based on end user, the manufacturing segment accounted for the largest share in 2022, contributing to two-fifths of the global reciprocating compressor market revenue, and is projected to maintain its lead position during the forecast period. Reciprocating compressors play a crucial role in the manufacturing sector, particularly in operations where compressed air or gases are vital. They are extensively used for tasks like operating pneumatic tools, handling materials, and various industrial processes. However, the chemical plant segment is expected to portray the largest CAGR of 5.6% from 2023 to 2032. Reciprocating compressors play a crucial role in diverse applications such as handling a range of gas compositions and pressures. A key application is in compressing raw materials and intermediates essential for chemical manufacturing. These compressors are utilized to compress gases serving as feedstocks for various chemical reactions, facilitating the production of chemicals and petrochemicals.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than half of the global reciprocating compressor market revenue and is likely to dominate the market during the forecast period. Asia-Pacific is one of the world's fastest-growing regions, expanding at a rate of 5% per year. Rapid industrialization has led to expansion in the manufacturing sector, which in turn has boosted the economy. This growth act as a catalyst for the growth of the market. However, the North America region is expected to witness the fastest CAGR of 4.8% from 2023 to 2032. Reciprocating compressors are widely used by industrial facilities such as warehouses, cold storage, supermarkets, and food processing facilities owing to ensuring efficient temperature control. All these sectors have immense presence in North America.

Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/8458

Leading Market Players: -

Ariel Corporation
Atlas Copco AB
Burckhardt Compression Holding AG
Gardner Denver Holdings, Inc.
General Electric
Howden Group Holdings Limited
IHI Corporation
Mayekawa Mfg. Co. Ltd.
SIEMENS AG
Ingersoll Rand

The report provides a detailed analysis of these key players in the global reciprocating compressor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Trending Reports in Compressor Industry (Book Now with 10% Discount):

Reciprocating Hydrogen Compressor Market is projected to reach $1.6 billion by 2032

Air Compressor Market is projected to reach $46.2 billion by 2031

Hydrogen compressor market is projected to reach $2.8 billion by 2031

Turbocompressor Market is expected to reach $29,356.4 million by 2030

Chillers Market is projected to reach $14.5 billion by 2032

Compressor Parts and Accessories Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

Compressor Rental Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

Axial Flow Compressor Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

Stationary Air Compressor Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

Scroll Compressor Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
Follow Us on | Facebook | LinkedIn | YouTube