Gas Compressor Market
Gas Compressor Market (Type: Oil Injected and Oil Free; Compressor: Dynamic Compressor and Positive Displacement Compressor; and End User: Construction, Oil & Gas, Mining, Chemicals, Power Generation, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
Distributors Emerging Resilient amid COVID-19 Pandemic for Essential Businesses
Since it is unclear when the COVID-19 pandemic will end, distributors and manufacturers in the gas compressor market are adopting high levels of professionalism to address the ongoing crisis. They are increasing efforts to keep essential businesses such as power generation, healthcare, and oil & gas up and running. Moreover, employee and customer safety is becoming top priority of stakeholders.
Companies in the gas compressor market are focusing on helping their employees throughout global operations to make them feel safe and confident during a time of uncertainty. President of Kaeser Compressors, Inc. describes that since employees have been undergoing the fear of losing their job, video conferencing and remote working environments are being set up to ensure the safety of employees. During peak demand, companies are adapting to double shifts to meet requirements of customers and clients.
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Contaminant Removal Proves Cost-efficient Method to Avoid Compressor Failures
Compressor failures and downstream problems are caused by a variety of mechanisms. This is evident since the gas compressor market is predicted to register a modest CAGR of ~4% during the projected period. Dissolved contaminants in the gaseous phase or in water entrained in the gas can precipitate in the system during compression, leading to corrosion and eventually failure. This has led to increased awareness about contaminant removal, and it is advisable to locate the source where feed contamination is present.
Contaminant removal oftentimes helps to avoid capital investment by identifying and correcting issues upstream. Since in gas compression, liquid contamination from injected lube oils and additives is always present, process protection practices are being adopted.
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Minimum Maintenance, Easy Gas Compressor Operation Priority in Systems
The gas compressor market is expected to reach the revenue of US$ 24 Bn by the end of 2031. Companies are increasing the availability of gas compressors meant for industrial purposes, ranging from air gas feeds and gas bottling to petrochemicals & gas processing. Atlas Copco - a Swedish multinational company and manufacturer of industrial tools & equipment, is publicizing its gas compressors that align with a wide variety of gas application range. Equipment manufacturers are increasing their production capabilities in systems built for maximum productivity and deploy easy gas compressor operation.
Companies in the gas compressor market are designing systems that result in minimum maintenance in its field of operation. This helps to ensure long intervals between servicing and easy access for technicians. Gas compressors types offering oil-less, oil-free, and oil-lubricated design give users full control over gas purity levels.
Compressors Delivering Long Operating Life Prominent in Oil & Gas Industries
Compression is used in almost every industry when conditions do not normally exist for various processes to take place. GEA - a leading provider of process technology and packaging solutions for the pharmaceutical, biotechnology & nutraceutical industries, is being known for offering the right compressors to plant operators to extract, transport, and process gas. Stakeholders in the gas compressor market are establishing stable revenue streams via oil and gas extraction & processing operations, in chemical processing, and power generation plants with gas turbines.
Thus, in order to boost credibility, companies in the gas compressor market are building an advanced portfolio of screw compressors optimized for compressing natural and industrial gases for system solution planners. Equipment manufacturers are investing in R&D to design compressors that deliver long operating life and can adhere to international standards.
Next-gen Reciprocating Gas Compressors Perform in Severe Service Conditions
Companies in the gas compressor market are increasing their production capabilities in reciprocating gas compressors. PSG, a part of the Dover Corporation, is increasing the availability of single and two stage gas compressors that create low-pressure area in the pumping chamber when the piston moves from the highest point of the stroke to the lowest point. Other equipment manufacturers are taking cues from such innovations to develop reciprocating gas compressors with high efficiency valves, self-adjusting piston rod seals, and ductile iron pistons to provide maximum performance and reliability under the most severe service conditions.
Reciprocating gas compressors are a critical component in the design of oil and gas vapor recovery units (VRUs). Manufacturers in the gas compressor market are increasing the availability of these systems that are ideal for the transfer and recovery of gases, including propane, LPG, and butane.
Centrifugal Compression Assemblies May Prove Reliable in Heavy-duty Operations
The air & gas compression is an essential service within power generation plants worldwide. However, a compressor breakdown can impact the overall plant performance and draws concern about the total cost of ownership, especially in energy costs and maintenance. Hence, companies in the gas compressor market are deploying the latest compressor technology with centrifugal compression assemblies that serve as an impressive technical solution. Anything that can prevent the power generation from operating efficiently has to be eliminated. This is being achieved with research in the dry screw design that has the potential to offer good reliability in operations. Companies in the gas compressor market are still working on the high maintenance costs associated with the dry screw design, especially when an air end may need replacement after several thousand hours of operation.
Compressed Air Powered Cars Hold Potential to Minimize Urban Pollution
The future of compressed air use lies in many end-use applications such as agriculture, automotive, climate control, and natural gas, among others. Companies in the gas compressor market are unlocking revenue opportunities in lesser-known sectors such as dry cleaning, food & beverage, woodworking, and energy exploration applications. The AIR Pod vehicle is being highly publicized for its potential to develop automobiles that run entirely on compressed air. Such trends and innovations are helping to ultimately minimize urban pollution and revolutionize urban mobility.
Compressed air-powered cars have the potential to enable travelers to go from place to place, without having to worry about the dangers of pollution. Personal vehicles represent a leading cause of global warming as per the Union of Concerned Scientists (UCS).
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Even as automotive is one of the worst hit industries by the COVID-19 outbreak, stakeholders are anticipating future growth opportunities with the help of innovations in compressed air powered cars. However, compressor failures and downstream problems are increasing the total cost of ownership for gas compressors in industrial applications. Hence, companies should increase awareness about contaminant removal to minimize the maintenance cost of gas compressors. From crop sprayers to water pumps, air compressors and tools help farmers to maximize their crop yields. Manufacturers in the gas compressor market are increasing the availability of gas compressors that perform in both hot and cold temperatures, whilst minimizing repair costs.
Gas Compressor Market: Overview
- According to Transparency Market Research’s latest research report on the global gas compressor market for the historical period of 2020 and the forecast period of 2021 to 2031, increase in investment in construction of pipeline infrastructure is a key factor expected to boost the global gas compressor market during the forecast period
- In terms of revenue, the global gas compressor market is expected to reach US$ 24 Bn by 2031, expanding at a CAGR of ~4% throughout the forecast period. In terms of type, oil free is anticipated to be highly lucrative segment of the global gas compressor market during the forecast period. Growth of the segment in the global gas compressor market can be ascribed to its several benefits such as decrease in energy consumption and decline in cost of oil condensate treatment.
Increase in Demand for Energy-efficient Gas Compressors: Key Driver of Gas Compressor Market
- Energy efficiency is a major concern associated with the use of compressors. Rise in consumer awareness about energy-efficient models primarily fuels the gas compressor market. Commercial, residential, and industrial sectors utilize about one trillion kilowatt-hours of electricity annually.
- Consumers are seeking an energy-efficient model that would consume less energy and lower the electricity bill as well as carbon emission. Governments of different countries are imposing stringent regulations to protect the environment and stabilize greenhouse gas levels in the atmosphere. The 83 signatories and 192 member countries have signed the Kyoto Protocol with an aim to protect the depleting ozone layer and implement the regulations in their respective countries.
- The U.S. Department of Energy (DOE) issued a pre-publication final rule for industrial and commercial compressor energy conservation standards. Such standards and regulations are expected to directly boost the demand for energy-efficient gas compressors, as conventional equipment, which emit harmful gases, need to be replaced with advanced energy-efficient equipment. As a result, manufacturers are compelled to design efficient systems in order to sustain growth. Impact of this driver is likely to be high during the forecast period. This is largely due to high demand for energy-efficient systems and government regulations mandating the production of gas compressors as per industry standards. Thus, increase in demand for energy-efficient compressors is anticipated to drive the gas compressor market during the forecast period.
- Rise in pipeline addition, and expansion and construction of import and export terminals around the world are also expected to boost the demand for gas compressors during the forecast period
Increase in Applications of Gas Compressor in Oil & Gas Industry
- Investment in development of natural gas pipeline has been increasing significantly, due to rise in demand for natural gas in end-use industries. Growth in awareness about global warming and greenhouse gas emission has boosted the demand for natural gas.
- Gas compressor is an integral part of natural gas pipeline network to maintain the pressure of natural gas, while transporting gas from one place to another. Thus, rise in investment in construction of pipeline network is estimated to boost the demand for gas compressor.
Gas Compressor Market: Competition Landscape
- Detailed profiles of companies operating in the global gas compressor market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global gas compressor are
- Atlas Copco AB
- Ingersoll Rand
- General Electric
- Mitsui E&S Holdings Co., Ltd.
- KAESER KOMPRESSOREN
- Hitachi Ltd.
- BAUER COMP Holding GmbH
- Howden Group
- Kobe Steel, Ltd.
- J.P. Sauer & Sohn Maschinenbau GmbH
- Ariel Corporation
Gas Compressor Market: Strategic Partnerships
- Prominent companies operating in the global gas compressor market, such as Atlas Copco AB, Siemens, and Ingersoll Rand, are focusing on strategic partnerships to expand their global footprint. Some of the key strategies in the global gas compressor market are highlighted below:
- In May 2021, Atlas Copco acquired the operating assets of MidState Air Compressor. MidState Air Compressor is a distributor of compressors and provider of service that covers Connecticut, Rhode Island, and Massachusetts in the U.S.
- In February 2020, Siemens Energy supplied 21 high-efficiency compressor for the expansion of the Marjan oil and gas field in the Kingdom of Saudi Arabia (KSA). These compressors would be used in several gas treatment plant compression services, including high pressure (HP) and high-high pressure (HHP) injection, sales gas, refrigerant, and sour off-gas.
- In the global gas compressor market report, we have discussed individual strategies, followed by company profiles of providers of gas compressors. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global gas compressor market.
Gas Compressor Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global gas compressor market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global gas compressor market in order to identify opportunities for stakeholders. The report also provides insightful information about how the global gas compressor market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global gas compressor market, which aids companies operating in the market in making strategic decisions. TMR’s study also elaborates on the significant changes that are anticipated to configure growth of the global gas compressor market during the forecast period. It also includes key indicator assessment that highlights growth prospects for the global gas compressor market and estimates statistics related to the market in terms of value (US$ Mn).
This study covers detailed segmentation of the global gas compressor market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global gas compressor market, wherein various development, expansion, and winning strategies practiced by these players have been presented in detail.
Key Questions Answered in TMR’s Report on Gas Compressor Market
The report provides detailed information about the global gas compressor market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the global market and are looking for innovative methods to create a unique benchmark in the global market so as to help them design successful strategies and make target-driven decisions.
- Which type segment of the global gas compressor market would emerge as a major revenue generator during the forecast period?
- Which compressor segment of the global gas compressor market would emerge as a major revenue generator during the forecast period?
- Which end user segment of the global gas compressor market would emerge as a major revenue generator during the forecast period?
- How are key market players successfully earning revenues in the global gas compressor market?
- What would be the Y-o-Y growth trend of the global gas compressor market between 2020 and 2031?
- What are the winning imperatives of leading players operating in the global gas compressor market?
Research Methodology – Gas Compressor Market
The research methodology adopted by analysts for compiling the report on the global gas compressor market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global gas compressor market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global gas compressor market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global gas compressor market.
Gas Compressor Market – Segmentation
TMR’s research study assesses the global gas compressor market based on type, compressor, end user, and region. The report presents extensive market dynamics and progressive trends associated with different segments and how they are influencing growth prospects of the global gas compressor market.