Gas Compressors Market Report 2024, Industry Trends, and Forecast Analysis

IMARC Group, a leading market research company, has recently released a report titled “Gas Compressors Market Report by Compressor Type (Positive Displacement Compressor, Dynamic Compressor), End Use Industry (General Manufacturing, Construction, Oil and Gas, Mining, Chemicals and Petrochemicals, Power Generation, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global gas compressors market trends, share, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global gas compressors market size reached US$ 5.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.

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What is Gas Compressors Market?

A gas compressor is a mechanical device engineered to increase the pressure of a gas by reducing its volume. It is employed across a myriad of industries such as oil and gas, chemical manufacturing, and power generation. They are typically designed with complex mechanisms, featuring components like pistons, diaphragms, or impellers to facilitate the effective compression of gases.

Moreover, gas compressors maintain process efficiencies, ensure the smooth functioning of industrial operations, and are considered vital equipment in sectors where gas manipulation is requisite.

Gas Compressors Market Trends:

The soaring demand for energy resources, particularly in emerging economies is facilitating the growth of the market. As these regions experience rapid industrialization and urbanization, the need for compressed gases, such as natural gas, to fuel power plants and industries becomes paramount.

Additionally, the expansion of the liquefied natural gas (LNG) industry requires advanced gas compression systems to facilitate the transportation of LNG over long distances, bridging supply gaps between regions and thus impelling market growth. In line with this, the rising sustainable business practices is propelling the demand for environmentally conscious solutions, equipped with advanced technologies to reduce emissions and increase energy efficiency, is providing an impetus to the market growth.

Furthermore, the integration of smart technologies and the Industrial Internet of Things (IIoT) in gas compression systems is enhancing operational efficiency, enabling real-time monitoring, predictive maintenance, and remote management, which is positively influencing the market growth.

Moreover, the widespread product adoption in the petrochemical sector, where gas compressors are integral to processes like ethylene production and downstream refining, is contributing to the market growth.

Gas Compressors Market Report Segmentation:

By Compressor Type:

·         Positive Displacement Compressor

·         Dynamic Compressor

By End Use Industry:

·         General Manufacturing

·         Construction

·         Oil and Gas

·         Mining

·         Chemicals and Petrochemicals

·         Power Generation

·         Others

Regional insights:

·         North America

·         Asia-Pacific

·         Europe

·         Latin America

·         Middle East and Africa

Competitive Landscape with Key Players

The competitive landscape of the gas compressors market size 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

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Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

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.

About Us

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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