Report
Description
a recent market intelligence report that is published by
data insights partner on centrifugal compressor market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international market. The research
study also emphasizes on the impact of restraints, drivers, and macro
indicators on the regional and world centrifugal compressor market over the short as well as long period of time. a
detailed presentation of forecast, trends, and dollar values of international centrifugal
compressor market is offered.
Market
Insights:
In accordance with the report, the centrifugal compressor
Market is projected to expand at a CAGR of X.X% over the period
of forecast. The global centrifugal
compressor market was valued at USD XX.X Mn in 2019 and is expected to reach
USD XX.X Mn in 2031, growing with a significant CAGR rate during the forecast
period. The market is driven by the rising demand for centrifugal compressors
in the petrochemical industry due to their advantages such as smooth operation,
large tolerance of process fluctuations, and their higher reliability in
comparison to the other types of compressors. The centrifugal compressors are
an ideal choice in comparison to the reciprocating compressors due to the lower
initial costs, lower maintenance costs of centrifugal compressors. The
centrifugal compressors are easily automated for remote operations, easily
skid-mounted, and self-contained. Increasing adoption of air compressors in
industries, growing demand for automobiles are factors considered to drive the
product demand. The predicted growth in the adoption of additional oil and gas
projects in the coming years, as well as the growing demand to develop natural
gas pipeline infrastructure, are two major factors are also expected to boost
the market demand during the forecast period. The falling cost of renewable
energy generation and increased investments in it are stifling demand for
natural gas-fired power generating, which has a negative influence on demand
for centrifugal compressors in the power generation industry. Increasing
investments and reducing costs in renewable power generation are affecting the
natural gas power generation market directly impacting the demand for the
centrifugal compressor in the power generation industry. In October 2018, ATLAS
Copco had launched the ZH 1000-3150 oil-free centrifugal air compressor which
is designed to meet the needs of the air separation industry for a larger
centrifugal air compressor delivered in a standard package. The ZH 1000-3150
oil-free centrifugal air compressor provides the optimum combination of high
flow and low energy consumption. It is an all-in-one oil-free air compressor
with all the elements including the internal piping, coolers, motor,
lubrication, inlet guide vanes, and control system are supplied in a standard
package in a built-to-last design. Asia-Pacific dominated the global
centrifugal compressors market and expected to grow at the highest CAGR during
the forecasted period as there is the high growth of the oil& gas and power
industries. Additionally, Asia Pacific centrifugal air compressor market size
is predicted to reach XX.X billion by 2031. Major countries including China has
maintained its leading position in the semiconductor production with a 50%
share in the global production value for the last five years. China, Japan and
South Korea hold a strong foothold in semiconductor & electronics
manufacturing. Likewise, Taiwan reported a XX.X% share in the global IC wafer
fab production capacity in 2020. Such trends showcase that the region has
already established its dominance in the semiconductor & electronics
manufacturing worldwide, that further strengthens its position in the global
centrifugal air compressor industry.
Research
Methodology:
To compile
the detailed study of the global centrifugal
compressor market, a robust research methodology has been adopted
that aids in determining the key insights and also evaluates the growth
prospects of the centrifugal compressor Market.
Comprehensive and iterative research methodology focused on minimizing deviance
in order to provide the most accurate estimates and forecast possible. The
company utilizes a combination of bottom-up and top-down approaches for
segmenting and estimating quantitative aspects of the market. Our research
methodology implements a mix of primary as well as secondary research. Our
projects are initiated with secondary research, where we refer to a variety of
sources including trade databases; government published documents, investor
presentations, company annual reports, Industrial papers, and paid databases. To
carry out secondary research, the analysts have collected the information
through company annual reports, journals, company press releases, and paid
databases that were referred to gain and identify better opportunities in the centrifugal compressor Market.
COVID-19
Scenario Analysis:
The COVID-19
outbreak has shaken the whole economy in the world. In this scenario some
industries are doing quite well while others have been crushed. This section of
the report has explored the overall status of the COVID-19 scenario. The
industry witnessed a huge decline in terms of sales. Likewise, the centrifugal compressor market was affected negatively due to the
shutdown of manufacturing/processing facilities for some time. The analysts
have also focused on the key measures that the companies are opting to
withstand the harsh scenario.
Segment
Covered:
Centrifugal compressor market report has been segmented by product type, by casting,
by technology and by application, also includes the market size and forecast
for all these segments. Compounded annual growth rates for all segments have
also been provided for 2019 to 2031. This report is a compilation of first-hand
information, qualitative and quantitative assessment by industry analysts,
inputs from industry experts and industry participants across the value chain.
Key Segments:
Centrifugal compressor Market research report
includes an in-depth coverage of the industry with estimates & forecast
from 2022 to 2031, for the following segments:
Centrifugal
Compressor Market, By Product Type, 2022-2031 (USD Million)
·
Portable
·
Stationary
Centrifugal
Compressor Market, By Casting, 2022-2031 (USD Million)
·
Horizontally
Split
·
Vertically
Split
Centrifugal
Compressor Market, By Technology, 2022-2031 (USD Million)
·
Gas
Compressor
·
Air
Compressor
Centrifugal
Compressor Market, By Technology, 2022-2031 (USD Million)
·
Oil And Gas
o Upstream
o Midstream
o Downstream
·
Petrochemicals
·
Power
·
Metals
·
Textiles
·
Automobiles
·
Chemicals
& Fertilizers
·
Others
Report
Highlights:
The prime objective of the centrifugal
compressor market report is to
help the user understand the market in terms of its definition, segmentation,
market potential, influential trends, and the challenges that the market is
facing with different major regions and more than 30 major countries across the
globe. During the report's production, extensive research and analysis were
conducted. This research will assist readers in gaining a thorough
understanding of the market.
Centrifugal
Compressor Market, By Region, 2022-2031 (USD Million)
·
North America (
United States, Canada, Mexico)
·
Europe
(Germany, UK, France, Italy, Russia, Spain, and Rest of Europe)
·
South Asia (
India, Pakistan and Bangladesh)
·
East Asia
(China, Japan and South Korea)
·
South East Asia
(Indonesia, Thailand, Singapore, Malaysia, Rest of SE Asia)
·
Middle East
(Turkey, Saudi Arabia, Iran, UAE, Israel, Iraq, Qatar, Rest of MEA)
·
Africa
(Nigeria, South Africa, Egypt, Algeria, Rest of Africa)
·
South America
(Brazil, Argentina, Colombia, Chile, and Rest of SA)
·
Oceania
(Australia and New Zealand)
Companies
Profiled:
To enhance their position in the global
market, key suppliers/manufacturers are concentrating on business expansion and
product innovation. Manufacturers/producers are also working on boosting their
manufacturing capacity and product quality to gain a competitive advantage. The
following are some of the prominent manufacturers in the worldwide centrifugal
compressor market:
·
Air Products
and Chemicals Inc.
·
Atlas Copco
·
Baker Hughes
Company
·
Dresser-Rand
Group Inc.
·
Elliott Group
·
Gardner
Denver Holdings Inc.
·
Hitachi Ltd
·
Howden Group
·
Ingersoll
Rand Inc.
·
Kobe Steel
Ltd
·
MAN Energy
Solutions
·
Mitsubishi
Heavy Industries Compressor Corporation
·
Shenyang
Blower Works Group Corporation.
·
Sullair LLC
·
Sundyne
·
Xi'an Shaanxi
Drum Power Co. Ltd
·
Zhejiang
Kaishan Compressor Co. Ltd
·
Others
Centrifugal
Compressor Market Report Highlights:
·
Detailed
analysis of the parent market
·
Key players'
strategies and products supplied in the competitive landscape
·
Market
segmentation in depth analysis
·
Market size
in terms of volume and value, past, present, and future scenario
·
Potential and
specialty areas, as well as geographical regions with promising growth
prospects
·
Market
players use this information to maintain and expand their market presence, thus
it's important to have an unbiased perspective on market performance.