Global Compressor Markets, 2020-2030 - Rising Demand for Eco-friendly Compressors and for Compressors from Diverse Industries in Developing Areas
Compressors are extensively used in the automotive industry in various applications such as car painting, tire inflation, engine construction, and air conditioning systems.
DUBLIN, Dec. 3, 2020 /PRNewswire/ -- The "Compressor Market Research Report: By Compressor Type, Lubrication Type, Portability, Pressure, Application - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Valued at $39.9 billion in 2019, the global compressor market is predicted to generate $48.5 billion revenue in 2030, an advance of CAGR of 3.1% from 2020 to 2030.
The prominent factors driving the progress of the market are the increasing number of food processing companies in several countries, thriving automotive industry, and the growing preference for screw compressors over piston compressors in industries.
Compressors are extensively used in the automotive industry in various applications such as car painting, tire inflation, engine construction, and air conditioning systems. As a result, the boom of the automotive industry, especially in the Asia-Pacific (APAC) region, on account of the growing disposable income of people, rapid technological advancements, and ballooning requirement for electric cars, is causing a sharp surge in the sales of compressors. As per reports, over 2.1 million electric cars were sold globally in 2019.
Electric cars accounted for 2.6% of the total number of cars sold across the world in 2019 and registered as much as 40% Y-o-Y (year-on-year) growth in sales from 2018. Besides this, the surging sales of heating, ventilation, and air conditioning (HVAC) systems is also propelling the growth of the compressor market. The sales of these systems are being driven by the increasing construction of commercial and residential buildings and the rapid development of various energy-efficient systems.
Apart from being heavily used in the automotive industry and HVAC systems, compressors are also being extensively used in gas pipelines for maintaining the required pressure and flow. As a result, the growth of the gas pipeline network in various geographical regions, because of the rising requirement for natural gas in domestic settings, soaring population, and increasing industrialization and urbanization, is positively impacting the sales of compressors across the globe.
For example, in 2017, Gazprom developed 121 gas pipelines over an area of 1,148 miles in as many as 32 constituent entities of the Russian Federation. Furthermore, GAIL (India) Limited announced in 2018 that it intends to construct 3,418 miles of new gas pipelines over the next three years. This construction of new pipelines would help the company expand its gas pipeline network. With the expansion of so many pipelines, the demand for compressors would shoot-up in the coming years.
Depending on portability, the compressor market is bifurcated into stationary and portable compressors. Between these, the stationary bifurcation recorded higher revenue growth in the market during 2014 - 2019. Moreover, this bifurcation would dominate the market in the future years, on account of the rising popularity of stationary compressors across the world. Stationary compressors have greater storage capacities and are more powerful than the portable variants. As a result, they are more widely preferred over portable compressors in various industries.
Globally, the compressor market is predicted to exhibit the fastest growth in the Middle East and Africa (MEA) region in the upcoming years, mainly because of the soaring investments being made in the development of manufacturing facilities and the ballooning production of processed foods in the region. In addition to this, the increasing manufacturing of automobiles in the regional countries such as Egypt, Algeria, Tunisia, and Morocco is further boosting the growth of the market in this region.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Compressor Type
4.1.1.1 Positive displacement
4.1.1.1.1 Reciprocating
4.1.1.1.1.1 In-line
4.1.1.1.1.2 V-shaped
4.1.1.1.1.3 Tandem piston
4.1.1.1.1.4 Single-acting
4.1.1.1.1.5 Double-acting
4.1.1.1.1.6 Diaphragm
4.1.1.1.2 Rotary
4.1.1.1.2.1 Screw
4.1.1.1.2.2 Vane
4.1.1.1.2.3 Lobe and scroll
4.1.1.2 Dynamic
4.1.1.2.1 Centrifugal
4.1.1.2.2 Axial
4.1.2 By Lubrication Type
4.1.2.1 Oil-free
4.1.2.2 Oil-flooded
4.1.3 By Portability
4.1.3.1 Portable
4.1.3.2 Stationary
4.1.4 By Pressure
4.1.4.1 Ultra-low-pressure
4.1.4.2 Low-pressure
4.1.4.3 Medium-pressure
4.1.4.4 High-pressure
4.1.4.5 Hyper-pressure
4.1.5 By Application
4.1.5.1 Construction
4.1.5.2 Power
4.1.5.3 Industrial manufacturing
4.1.5.4 HVAC-R
4.1.5.5 Chemical and cement
4.1.5.6 Oil and gas
4.1.5.7 Automotive
4.1.5.8 Food and beverage
4.1.5.9 Textile
4.1.5.10 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Use of variable frequency drive (VFD) for compressors over gas turbines
4.3.1.2 Use of multi-stage compressors
4.3.2 Drivers
4.3.2.1 Growing HVAC market
4.3.2.2 Increasing demand for screw compressors
4.3.2.3 Rising gas pipeline network to support market growth
4.3.2.4 Surging automotive industry
4.3.3 Restraints
4.3.3.1 High initial cost
4.3.4 Opportunities
4.3.4.1 Rising demand for eco-friendly compressors
4.3.4.2 Huge demand for compressors from diverse industries in developing areas
4.4 Impact of COVID-19 on Compressor Market
4.5 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.1.1 Positive Displacement, by Type
5.1.1.1 Positive displacement compressor, by reciprocating type
5.1.1.2 Positive displacement compressor, by rotary type
5.1.2 Dynamic, by Type
5.2 By Lubrication Type
5.3 By Portability
5.4 By Pressure
5.5 By Application
5.6 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Key Players
11.2 Market Share Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Global Strategic Developments of Key Players
Chapter 12. Company Profiles
12.1 Business Overview
12.2 Product and Service Offerings
12.3 Key Financial Summary
- Gardner Denver Holdings Inc.
- Kaeser Kompressoren SE
- Mitsubishi Heavy Industries Ltd.
- Accudyne Industries LLC
- Atlas Copco AB
- Kobe Steel Ltd.
- ANEST IWATA Corporation
- Zhe Jiang Hongwuhuan Machinery Co. Ltd.
- MAHLE GmbH
- Sanden Holdings Corporation
- Valeo SA
- Hanon Systems
- Toyota Industries Corporation
For more information about this report visit https://www.researchandmarkets.com/r/gjhl3y
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