Axial Flow Compressor Market: Introduction
- An axial flow compressor is a gas compressor that can continuously pressurize gases. It is a rotating, airfoil-based compressor in which the gas or working fluid principally flows parallel to the axis of rotation, or axially. The basic components of an axial flow compressor are rotor blades and stator or stationary blades, the former carrying the moving blades and the latter the stationary rows of blades. The energy level of fluid increases as it flows through the compressor due to the action of the rotor blades which exerts a torque on the fluid. The stationary blades slows the fluid, converting the circumferential component of flow into pressure. Compressors are typically driven by a gas turbine, electric motor, or a steam.
- An axial flow compressor differs from other rotating compressors (axi-centrifugal compressors, mixed-flow compressors, and centrifugal compressors), where the fluid flow includes a "radial component" through the compressor.
- The axial flow compressor is an integral part of air separation units used in industry.
- The COVID-19 outbreak has led to the decline of industries, as governments of developed and developing economies have imposed lockdown, due to which the working of industries such as steel, oil & gas, and marine have stopped. This, in turn, has impacted production and manufacturing, and adversely affected the global economy. Thus, demand for axial flow compressors have also been impacted.
Global Axial Flow Compressor Market: Dynamics
Global Axial Flow Compressor Market: Key Drivers and Restraint
- Rising adoption of axial flow compressors for various industrial applications such as air separation in manufacturing plants, removal of carbon dioxide gas, and removal of liquid from natural gas is expected to boost the growth of the axial flow compressor market.
- Increasing need for axial flow compressors in steel and iron industry to meet the specific needs in separating air is expected to fuel the axial flow compressor market.
- Growing demand for axial flow compressors in the oil and gas industry for long distance pipeline transmission of hydrogen is expected to enhance the demand for axial flow compressors across the world over the forecast period.
- However, heavy weight and high cost are factors that can hamper the axial flow compressor market.
North America to Account for Major Share of the Global Axial Flow Compressor Market
- In terms of region, the global axial flow compressor market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global axial flow compressor market, due to high adoption of axial flow compressors in marine and oil & gas sectors.
- The axial flow compressor market in Asia Pacific is expected to hold significant share due to growing adoption of axial flow compressors in various industrial applications such as large volume of air separation in manufacturing plants, fluid catalytic cracking, and proper dehydrogenation in the oil & gas sector. This is expected to fuel the growth of the axial flow compressor market across Asia Pacific.
Global Axial Flow Compressor Market: Competitive Landscape
Key Players Operating in the Global Axial Flow Compressor Market
Companies operating in the axial flow compressor market are increasingly investing in research and development to develop new and innovative techniques to manufacture axial flow compressors. Manufacturers are also focusing on offering highly-efficient and reliable axial flow compressors with advanced features such as high peak efficiencies, small frontal area for given airflow; straight-through flow, and allowing high ram efficiency. The axial flow compressor market is highly fragmented with the presence of numerous manufacturers, primarily in developing regions. Furthermore, manufacturers are striving to gain a competitive edge by increased product differentiation. Key players operating in the global axial flow compressor market are:
- Elliott Group
- General Electric Company
- Howden Compressors Ltd
- Ingersoll Rand PLC
- MAN Turbomachinery
- Mitsubishi Hitachi Power Systems
- Siemens AG
- Xi'an Shaangu Power
- Zhejiang Kaishan Compressor
Global Axial Flow Compressor Market: Research Scope
Global Axial Flow Compressor Market Segmentation, by Stage Type
Global Axial Flow Compressor Market Segmentation, by Application
- Oil & Gas
- Power Generation
Global Axial Flow Compressor Market Segmentation, by Type
- Vertical Axial Compressor
- Horizontal Axial Compressor
Global Axial Flow Compressor Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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