According to IMARC Group’s latest report, titled “Gas Compressors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global gas compressors market size reached US$ 4.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2027, exhibiting a growth rate (CAGR) of 3.98% during 2022-2027.
A gas compressor is a crucial piece of equipment in gaseous fluid drilling processes. It is a mechanical device that expands the pressure of the gas by decreasing its volume. There are different types of gas compressors available in the market, including positive replacement and dynamic gas compressors. These apparatuses are largely used for gases such as argon, hydrogen, ethylene, fluorine, xenon, nitrogen, and silane. As a result, they are witnessing a significant demand across the chemicals, manufacturing, oil & gas, mining, construction, petrochemicals, and power generation industries.
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Market Trends:
The primary factor driving the global gas compressors market is the rapidly expanding oil and gas industry. Gas compressors are widely used in several stages of the oil and gas supply chain, including natural gas processing, marine LNG, natural gas transportation, and refining. This is further supported by the increasing demand for natural gas for power generation and the surging product need in the pharmaceutical industry. Moreover, the introduction of energy-efficient portable compressors in industrial plants and rapid industrialization are bolstering the market growth. Other factors, such as increasing investments in research and development (R&D) activities and rising oil and gas exploration activities, are creating a positive outlook for the market.
Gas Compressors Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the gas compressors market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Ariel Corporation
- Atlas Copco AB
- Bauer Compressors Inc.
- Burckhardt Compression Holding AG
- Exterran Corporation
- Gardner Denver Inc.
- General Electric Company
- Hitachi Ltd.
- Kobelco
- Siemens AG
Key Market Segmentation:
The report has segmented the global gas compressors market based on compressor type, end use industry and region.
Breakup by Compressor Type:
- Positive Displacement Compressor
- Dynamic Compressor
Breakup by End Use Industry:
- General Manufacturing
- Construction
- Oil and Gas
- Mining
- Chemicals and Petrochemicals
- Power Generation
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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