Turbocompressors are dynamic type of compressors which are used for injection and compression of gases. These compressors help to eliminate pressure surges in the injected gas. They are sometimes used for the supercharging of piston engines. Additionally, turbocompressors are used in all the aspects of the natural gas development. The largest end-user segment for turbocompressors is the oil and gas sector and the demand for these compressors has increased substantially in this sector, owing to the need for increasing power generation capabilities.

Turbocompressors are primarily used in the processing and transmission of natural gas. They are also used in the storage segments of the oil and gas industry. Their application areas include oil refineries, chemical and petrochemical plants. Thus the increased trade and growth of natural gas is majorly driving the global market. Turbocompressors are also deployed widely in gas turbines and auxiliary power units. Both centrifugal and axial turbocompressors are used in gas turbines to provide compression. Moreover, these compressors are also used for heating, ventilation and air-conditioning in electric hybrid vehicles.

The growth of the global turbocompressor market can be primarily ascribed to the increasing adoption of turbocompressors for power generation and chemical processes along with the growing liquefied natural gas (LNG) trade between nations. In addition, rapid industrialization in the Asian countries such as China and India due to lower oil prices is fueling the global market. Increased industrialization in the industries such as automotive production and assembly and emergence of new industrial of non-oil and gas sector in the Middle East are set to bolster the growth of the turbocompressor market. Moreover, advanced technologies are helping to bring down the cost of turbocompressors, which is impacting the global market positively. However, stringent environmental regulations in the oil and gas sector and increasing customization demand from the end-user industries are hindering the growth of the market. Meanwhile, emergence of advanced technologies and increasing use of turbocompressors in CO2 transmissions are offering potential growth opportunities to the turbocompressor market.

The global turbocompressor market can be segmented, on the basis of types into centrifugal and axial turbocompressors. The most widely used compressors are the centrifugal compressors. The market for turbocompressors can be classified based on its application into the following areas: oil and gas, chemical processes, power generation and offshore. On the basis of stage, the global market can be bifurcated into single-stage and multi-stage. Furthermore, the turbocompressor market can be geographically segmented into five broad regions, namely: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America. The market is witnessing steady growth in the Asia Pacific region. The presence of manufacturing facilities which belong to refineries, chemical companies and power generation projects and the emergence of new industrial sectors are paving the way for continuous growth of the turbocompressor market in this region.

Some of the major companies in the turbocompressor market are Seimen AG, Mitsubishi Heavy Industries Ltd., GE Oil & Gas, Ingersoll-Rand PLC, Kobel Steel Ltd., Man Diesel & Turbo, Atlas Copco AB, Howden Group Ltd., Elliot Group Ltd., Sulzer Ltd., SKF and Kawasaki Heavy Industries Ltd. among others.

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
  • Europe
  • 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.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Turbocompressor Market

Pre Book