According to IMARC Group’s latest report, titled “Gas Compressors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global gas compressors market size reached US$ 4.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2027, exhibiting a growth rate (CAGR) of 3.98% during 2022-2027.
Gas compressors represent mechanical devices that increase the static pressure of a gas by reducing its volume. They are commonly available in positive displacement and dynamic gas variants. Positive displacement compressors include reciprocating and rotary types that compress the gas by confining it in a closed space. On the other hand, the latter comprises of an axial and centrifugal compressor that compresses via the mechanical action of impellers or rotating vanes. They are widely used for various gases, such as argon, hydrogen, ethylene, fluorine, nitrogen, xenon, silane, etc. In line with this, gas compressors find extensive applications in several industries, including general manufacturing, construction, oil and gas, mining, chemicals and petrochemicals, power generation, etc.
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Market Trends and Drivers:
The widespread product adoption in air filtration duct systems for maintaining air quality and preventing contamination as well as infections is primarily driving the gas compressors market. Additionally, the growing utilization of these devices for the processing and transportation of renewable energy resources over a long distance is further catalyzing the market growth. Apart from this, the development of energy-efficient portable compressors for automation in industrial plants is acting as another significant growth-inducing factor. Moreover, the inflating levels of industrialization and the increasing investments in R&D activities are also positively influencing the global market. Besides this, the introduction of product variants with improved storage tanks, enhanced performance capabilities, minimal maintenance needs and fuel consumption, etc., is anticipated to fuel the gas compressors market over the forecasted period.
Gas Compressors Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the gas compressors market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Ariel Corporation
- Atlas Copco AB
- Bauer Compressors Inc.
- Burckhardt Compression Holding AG
- Exterran Corporation
- Gardner Denver Inc.
- General Electric Company
- Hitachi Ltd.
- Kobelco
- Siemens AG
Key Market Segmentation:
The report has segmented the global gas compressors market on the basis of compressor type, end use industry and region.
Breakup by Compressor Type:
- Positive Displacement Compressor
- Dynamic Compressor
Breakup by End Use Industry:
- General Manufacturing
- Construction
- Oil and Gas
- Mining
- Chemicals and Petrochemicals
- Power Generation
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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