NEW YORK, Dec. 1, 2021 /PRNewswire/ — The “Compressors Bazaar by End-user and Cartography – Anticipation and Assay 2021-2025” report has been added to Technavio’s offering. The compressor bazaar advance abeyant will abound by USD 10.31 billion from 2020 to 2025. The bazaar advance drive is acceptable to advance at a CAGR of 2.67% during the anticipation period.
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The compressors bazaar will get immense advance opportunities from the growing charge for energy-efficient compressors. Best industries are adopting electrically apprenticed energy-efficient compressors to annihilate the accident of emission. In addition, the use of these compressors is enabling a abridgement of the all-embracing operating amount in awful airy industries such as oil and gas, mining and metals, and the actinic and petrochemical sector. There has been a ample acceleration in the amplification of oil terminals beyond the globe. This accretion amplification of oil terminals has added apprenticed the charge for compressors and aqueous administration systems beyond mid-stream and after activities in the oil and gas industry.
Apart from the factors amenable for the advance of the market, ambiguity and fluctuations in awkward oil prices will arrest the advance of the market. Lower awkward oil prices advance to the abandoning or cessation of oil and gas assay and assembly projects. In addition, falling awkward oil and accustomed gas prices accept a abrogating appulse on the oil and gas upstream area and advance to the adjournment or abandoning of oil and gas conduct activities, which ultimately reduces awkward oil production. Thus, this abridgement of oil and gas assembly will appulse the compressor bazaar appeal abnormally during the abutting few years.
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The compressor bazaar is anecdotal by End-user (Oil and gas, Process industry, and Discrete industry) and Cartography (APAC, North America, Europe, South America, and MEA). The compressor bazaar allotment advance by the oil and gas articulation will be cogent during the anticipation period. In the oil and gas industry, compressors are acclimated in upstream, midstream, and after operations. Compressors ensure optimum burden during the busline and accumulator of accustomed gas, decidedly during the acquittal and bushing of underground accumulator caverns. In addition, burden fluctuations in oil and gas plants can advance to abrupt explosions that can abort accessories and abuse workers. Therefore, vendors accept started alms compressors with multivariable transmitters to the oil and gas industry for advancement optimum burden in oil and gas processing plants.
By geography, North America is advancing to annual for the fastest compressor bazaar advance during the anticipation period. 36% of the market’s advance will be contributed by the region. The advance in appeal for compressors is mainly attributed to the admission of new actinic and petrochemical projects in the region. The bit-by-bit accretion in awkward oil prices in the US has led to the admission of a cardinal of shale projects in the region. In addition, government initiatives and investments in the oil and gas industry of the US, Canada, Mexico are added acceptable to access the burning of automation ascendancy systems, in turn, advocacy the appeal for compressors. Favorable government behavior and tax incentives accept added encouraged economies to authorize new oil and gas plants, eventually, arch to the acceleration in compressor bazaar size.
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The all-around compressors bazaar was a burst industry that was in a appearance of advance in 2020. By 2025, the bazaar anatomy would abide to be fragmented. The compressors bazaar is accepted to accommodate a favorable advance ambiance to new and absolute players in the advancing years. To accomplish the best of the advance opportunities, bazaar vendors are absorption added on the advance affairs in the fast-growing segments, while advancement their positions in the slow-growing segments.
To adverse the blackmail from bargain substitutes, all-embracing players operating in the all-around compressors bazaar are accretion their aisle in developing countries and are accepting added companies. As the bazaar is boring attaining maturity, vendors are absorption on M&A and account commitment strategies to survive the competition. Several bounded and bounded vendors accept started accomplishment customized, cost-effective, energy-efficient equipment, thus, accumulative antagonism for all-embracing players. For instance, In June 2021, Altas Copco AB appear the accretion of Pneumatics Ltd. (Airflow), a aeroembolism air benefactor and account provider in the UK.
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Compressors Bazaar Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth drive & CAGR
Accelerate at a CAGR of 2.67%
Market advance 2021-2025
$ 10.31 billion
Market structure
Fragmented
YoY advance (%)
1.82
Regional analysis
APAC, North America, Europe, South America, and MEA
Performing bazaar contribution
North America at 36%
Key customer countries
US, China, Japan, UK, and Germany
Competitive landscape
Leading companies, aggressive strategies, customer assurance scope
Companies profiled
Atlas Copco AB, BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Danfoss AS, Doosan Carriageable Power Co., Elgi Equipments Ltd., Hitachi Ltd., Ingersoll Rand Inc., Parker Hannifin Corp., Siemens Energy AG, and Sulzer Ltd.
Market Dynamics
Parent bazaar analysis, Bazaar advance inducers and obstacles, Fast-growing and slow-growing articulation analysis, COVID-19 appulse and approaching customer dynamics, bazaar action assay for the anticipation period
Customization purview
If our abode has not included the abstracts that you are attractive for, you can ability out to our analysts and get segments customized.
Key Topics Covered:
About UsTechnavio is a arch all-around technology assay and advising company. Their assay and assay focuses on arising bazaar trends and provides actionable insights to advice businesses analyze bazaar opportunities and advance able strategies to optimize their bazaar positions. With over 500 specialized analysts, Technavio’s abode library consists of added than 17,000 letters and counting, accoutrement 800 technologies, spanning beyond 50 countries. Their applicant abject consists of enterprises of all sizes, including added than 100 Fortune 500 companies. This growing applicant abject relies on Technavio’s absolute coverage, all-encompassing research, and actionable bazaar insights to analyze opportunities in absolute and abeyant markets and appraise their aggressive positions aural alteration bazaar scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: 1 844 364 1100UK: 44 203 893 3200Email: [email protected]: www.technavio.com/
SOURCE Technavio
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