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.
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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)
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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.
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