Compressor Market - Introduction
Compressor is a mechanical equipment used to increase the pressure of the gas and reduce its volume. It is used to supply air or gas at higher pressure. Compressors consist of a power source and compressing mechanism. Speed of rotation, pressure at discharge, pressure at suction, and type of refrigerant being used contributes to the performance of a compressor. Compressors can be operated at different capacities by varying refrigerant and power input. Compressors are segmented into two types: dynamic compressor and positive displacement compressor. Positive displacement compressor uses the mechanical linkage to compress the air and reduce its volume. Dynamic compressor works on inertia and momentum of fluid. Positive displacement compressor is further segmented into rotary and reciprocating compressor while dynamic compressor is classified as centrifugal and axial compressor. Compressors are used in many industries such as automobile, electronics, steel, chemical, food processing industry, and construction.
Compressor Market – Competitive Landscape
Atlas Copco was founded in 1873 and is based in Sweden. The company has a global presence and its products are sold in more than 180 countries. Atlas Copco provides compressors, vacuum solutions, generators, pumps, power tools, and assembly systems. The company supplies products to automotive, textile, chemical, cement, food & beverages, and pharmaceutical industries. Atlas Copco’s compressors were used in the 2019 FIS Alpine World Ski Championships.
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Siemens is a German multinational company with its headquarters in Munich. It was founded in 1847 by Verner von Siemens. Siemens has grown tremendously through mergers and acquisitions. The company is now focusing on digitalization. It acquired UGS Corp. in 2007. The company has its network spread over more than 200 countries.
Wuxi Compressor Co Ltd
Wuxi compressor Co Ltd was founded in December 1955. The company is located in Wuxi City, China. The company holds 20 patents for invention and 16 patents for utility models. The products of the company are divided in four major categories which are Process Compressors, Centrifugal Compressors, General Compressors, and Airfield Ground Support Equipment.
Compressor Market – Dynamics
Compressors are used to meet the requirement of high pressure gas. It essentially converts low pressure gas to high pressure gas. Power generation and manufacturing industries are the biggest consumers of natural gas. Increasing demand for electricity in developing countries is expected to drive the market for natural gas which in turn is anticipated to increase the demand for compressors in the coming years. The growth of the manufacturing sector in different countries may help the compressor market to grow in the near future. Big players are making compressors more efficient and eco-friendly with the help of growing technology, which would make conventional compressors viable and increase the demand for compressors. Compressed air is used in equipment such as nut runners. Compressor is an essential equipment in Heating Ventilation and Air Conditioning Equipment (HVAC). HVAC is likely to grow during the forecast period due to increase in construction activities, smart home market, and energy efficient systems. Compressors require huge capital cost. Along with it comes installation, maintenance, and electricity cost, handling air leaks, and large repairs which may impact the compressor market and act as a restraint.
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Compressor Market – Segmentation
The compressor market can be bifurcated on the basis of:
Compressor Market Segmentation – by Type
On the basis of type, the compressor market can be fragmented into:
- Positive displacement
Compressor Market Segmentation – by Industry
Based on industry, the compressor market can be fragmented into:
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.