Compressors Market size to grow by USD 14,834.55 million from 2022 to 2027; Increasing adoption of compressors in various industries to boost the market growth

NEW YORK, May 22, 2023 /PRNewswire/ -- The global compressors market size is estimated to increase by USD 14,834.55 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 3.62% during the forecast period. The increasing adoption of compressors in various industries is one of the key factors driving the global compressors market. The use of compressors in various industries increases significantly due to their versatility and efficiency in various applications. Industries such as automotive, chemical, petrochemical, and manufacturing have widely adopted the use of compressors in their processes for a variety of reasons, one of which is their ability to improve the productivity and efficiency of the industrial processes that move oil and gas from production wells to reservoirs. Hence, such factors drive market growth during the forecast period. Discover some insights on the market size historic period (2017 to 2021) and forecast period (2023-2027) before buying the full report - Request a sample report

Compressors market – Vendor AnalysisVendor Landscape - The global compressors market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer compressors in the market are Atlas Copco UK, BAC Compressors, BOGE KOMPRESSOREN GmbH and Co. KG, Danfoss AS, Dearing Compressor and Pump Co., Doosan Portable Power Co., Elgi Equipments Ltd, Fusheng Precision Co. Ltd., Hanbell Precise Machinery Co. Ltd., Hitachi Ltd., Indo-Air Compressors Pvt. Ltd., Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, Kaishan Compressor USA, Kirloskar Pneumatic Co. Ltd., Kobe Steel Ltd., Parker Hannifin Corp., Siemens Energy AG, Sulzer Management Ltd., and Yantra Technologies and others.

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Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Vendor Offerings -

Atlas Copco UK - This company offers compressors namely air and gas compressors, Compressed air dryers, oil free air compressor, oil lubricated air compressor, and air compressor parts.

BOGE KOMPRESSOREN GmbH and Co. KG - The company offers screw compressors, piston compressors, scroll compressors, and turbo compressors.

Danfoss AS - The company offers compressors namely turbocor, reciprocating compressors, and telecom dc compressors.

For details on the vendor and their offerings – Request a sample report

Compressors Market - Segmentation Assessment

Segment OverviewThis report extensively covers market segmentation by end-user (oil and gas, process industry, and discrete industry), type (positive displacement and dynamic), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

The market share growth by the oil and gas segment will be significant during the forecast period. This growth is attributed to this industry being the greatest contributor to the compressor market. Compressors are used in petroleum refineries for desulfurization and reforming as well as in natural gas plants for compressed gas transportation and gas injection. Pressure fluctuations in oil and gas facilities can cause explosions that destroy equipment and injure workers and thus, oil and gas industry suppliers offer compressors with multivariable transmitters to maintain optimum pressure in oil and gas processing plants. Hence, such factors drive segment growth during the forecast period, leading to an overall market growth.

Geography OverviewBy geography, the global compressors market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global compressors market.

APAC is estimated to account for 35% of the global market growth. Demand for compressors from the APAC oil and gas industry is expected to increase during the forecast period due to the number of offshore and onshore oil and gas activities. While most regions were affected by lower oil prices, APAC did not see a significant decline in investment in the oil and gas industry and a major factor behind the growth of the oil and gas industry can be attributed to the increase in manufacturing activity and the accompanying increase in energy demand. Therefore, the development of the oil and gas industry, makes it necessary to transport these oils and gases to final storage, increasing the demand for compressors.

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Compressors Market – Market Dynamics

Key Trends -

Rising demand for oil-free compressors is a trend that will fuel the global compressors market.

Compressors are divided into lubricated compressors and non-lubricated compressors based on the type of lubrication.

In recent years, oil-powered compressors gained a higher market share compared to oil-free compressors.

However, the growing need for pollution-free air in clean room applications is driving demand for oil-free compressors and oil-free compressor eliminates the risk of product contamination.

Hence, such factors drive market growth for compressors during the forecast period.

Major challenges -

Fluctuating prices of raw materials are a major challenge that can impede the growth of the market.

Raw material price volatility affects production costs and results in many major players entering into long-term contracts with their suppliers to reduce the impact of commodity price fluctuations on their businesses.

But smaller providers do not enter into such agreements as they would require a large investment and thus, fluctuations in commodity prices affect their business.

Hence, such factors impact the growth of the compressors market during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Compressors Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the compressors market between 2023 and 2027

Precise estimation of the size of the compressors market and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the compressors market across APAC, North America, Europe, South America, and Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of compressors market vendors

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Compressors Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.62%

Market growth 2023-2027

USD 14,834.55 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.71

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 35%

Key countries

US, China, Japan, UK, and Germany, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Atlas Copco UK, BAC Compressors, BOGE KOMPRESSOREN GmbH and Co. KG, Danfoss AS, Dearing Compressor and Pump Co., Doosan Portable Power Co., Elgi Equipments Ltd, Fusheng Precision Co. Ltd., Hanbell Precise Machinery Co. Ltd., Hitachi Ltd., Indo-Air Compressors Pvt. Ltd., Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, Kaishan Compressor USA, Kirloskar Pneumatic Co. Ltd., Kobe Steel Ltd., Parker Hannifin Corp., Siemens Energy AG, Sulzer Management Ltd., and Yantra Technologies

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global compressors market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Type Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 Oil and gas - Market size and forecast 2022-2027

6.4 Process industry - Market size and forecast 2022-2027

6.5 Discrete industry - Market size and forecast 2022-2027

6.6 Market opportunity by End-user

7 Market Segmentation by Type

7.1 Market segments

7.2 Comparison by Type

7.3 Positive displacement - Market size and forecast 2022-2027

7.4 Dynamic - Market size and forecast 2022-2027

7.5 Market opportunity by Type

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Japan - Market size and forecast 2022-2027

9.11 UK - Market size and forecast 2022-2027

9.12 Germany - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Atlas Copco UK

12.4 BOGE KOMPRESSOREN GmbH and Co. KG

12.5 Danfoss AS

12.6 Doosan Portable Power Co.

12.7 Elgi Equipments Ltd

12.8 Fusheng Precision Co. Ltd.

12.9 Hanbell Precise Machinery Co. Ltd.

12.10 Hitachi Ltd.

12.11 Indo-Air Compressors Pvt. Ltd.

12.12 Ingersoll Rand Inc.

12.13 KAESER KOMPRESSOREN SE

12.14 Kaishan Compressor USA

12.15 Parker Hannifin Corp.

12.16 Siemens Energy AG

12.17 Sulzer Management Ltd.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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