Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 13.74 Billion

CAGR (2023-2028)

4.95%

Fastest Growing Segment

Oil and Gas

Largest Market

Asia Pacific

 

Market Overview

Global Centrifugal Compressor Market was valued at USD 13.74 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.95% through 2028. Over the medium term, natural gas is increasingly replacing oil and coal as an energy source in the power generation and transportation sectors. To fulfill the increasing demand for gas, governments worldwide are planning to invest in expanding the infrastructure. This is likely to boost the demand for centrifugal compressors during the forecast period. Nevertheless, several centrifugal compressor manufacturers strive to develop more energy-efficient products during rising end-user demands and changing energy efficiency standards. This factor is expected to create several opportunities for the market during the forecast period.

Key Market Drivers

Oil and Gas Exploration

The global centrifugal compressor market is strongly influenced by the dynamic and ever-evolving oil and gas exploration industry. The demand for centrifugal compressors in this sector is driven by several key factors, making it a significant market driver. First and foremost, the oil and gas exploration industry relies heavily on centrifugal compressors for various critical applications. One of the primary uses is gas compression, where centrifugal compressors are employed to boost the pressure of natural gas extracted from wells. This is essential for transporting gas over long distances through pipelines to processing facilities or distribution networks. As global energy demand continues to rise, especially in emerging economies, the exploration and extraction of natural gas from both conventional and unconventional sources are expanding. This growth in exploration activities directly fuels the demand for centrifugal compressors.

Additionally, in the liquefied natural gas (LNG) sector, centrifugal compressors play a pivotal role. LNG is an important component of the global energy trade, and its production involves the compression of natural gas to extremely low temperatures. Centrifugal compressors are used in this liquefaction process to reduce the gas's volume for efficient storage and transportation. The ongoing globalization of the LNG market, with the development of new export and import terminals, creates a continuous demand for centrifugal compressors.

Furthermore, offshore oil and gas exploration activities, particularly in deepwater and ultra-deepwater regions, rely on centrifugal compressors for various purposes. These compressors are used on offshore platforms for gas lift operations, wellhead compression, and gas reinjection to enhance oil recovery and manage reservoir pressures. As technology advancements enable the industry to explore and extract hydrocarbons from more challenging environments, the demand for robust and reliable centrifugal compressors continues to rise.

Moreover, as environmental regulations become increasingly stringent in the oil and gas sector, operators are seeking more efficient and environmentally friendly solutions. Centrifugal compressors are adapting to meet these requirements by offering greater energy efficiency and reduced emissions, further driving their adoption in the industry. In conclusion, the global centrifugal compressor market is significantly influenced by the continued growth and diversification of the oil and gas exploration sector. As the industry explores new reserves, processes unconventional resources, and expands its reach into global markets, the demand for centrifugal compressors remains strong, making it a prominent driver in the market's sustained growth and innovation.

Infrastructure Development

Infrastructure development is poised to be a significant driving force behind the growth of the global centrifugal compressor market. As countries worldwide invest in expanding and modernizing their infrastructure, the demand for centrifugal compressors, a crucial component in various applications, is expected to soar. One of the primary areas where infrastructure development fuels the demand for centrifugal compressors is in the energy sector. The construction of new power generation facilities, whether traditional coal-fired plants or modern renewable energy installations like wind and solar farms, requires substantial compressor systems. Centrifugal compressors are used for gas compression, air separation, and gas turbine air inlet compression in these power generation facilities. As nations strive to meet growing energy demands and transition toward cleaner energy sources, the demand for these compressors increases significantly.

Moreover, infrastructure projects often involve the development of large-scale industrial facilities, such as petrochemical complexes, refineries, and LNG (Liquefied Natural Gas) terminals. These facilities rely heavily on centrifugal compressors for processes like gas processing, natural gas liquefaction, and gas transmission. The continued expansion of these sectors, driven by increasing global energy consumption and international trade, ensures a robust demand for centrifugal compressors.

In the realm of commercial and residential infrastructure, centrifugal compressors are critical for HVAC (Heating, Ventilation, and Air Conditioning) systems. As urbanization and population growth drive the construction of new buildings, there is a corresponding rise in demand for efficient HVAC systems. Centrifugal compressors play a pivotal role in these systems, ensuring temperature control and air quality in various types of buildings, from office complexes to shopping malls and residential towers.

Furthermore, the development of transportation infrastructure, including airports, seaports, and railways, necessitates compressed air systems for operations such as pneumatic tools, air brakes, and baggage handling. Centrifugal compressors are often chosen for their reliability and ability to provide high volumes of compressed air, supporting the efficient functioning of these transportation hubs. In conclusion, infrastructure development is a compelling driver for the global centrifugal compressor market. The construction and expansion of energy facilities, industrial complexes, and commercial infrastructure projects all contribute to the growing demand for these compressors. As nations continue to invest in infrastructure to support economic growth and sustainability goals, the centrifugal compressor market is poised for sustained growth and innovation.

Technological Advancements

Technological advancements are poised to be a primary driving force behind the growth of the global centrifugal compressor market. These innovations, ranging from design improvements to digitalization and materials enhancements, are reshaping the industry landscape and creating new opportunities for efficiency, reliability, and sustainability. One of the key technological advancements fueling the centrifugal compressor market is the development of more efficient designs. Engineers are constantly refining the aerodynamics and geometry of centrifugal compressors to optimize their performance. This includes enhancing impeller and diffuser designs, resulting in higher compression ratios and improved energy efficiency. These advancements not only reduce operational costs but also align with the global push for energy conservation and reduced carbon emissions.

Digitalization is another transformative trend. The integration of smart sensors, data analytics, and predictive maintenance algorithms is enabling real-time monitoring and control of centrifugal compressors. Operators can now detect potential issues before they become critical, minimizing downtime and reducing maintenance costs. Additionally, these digital solutions enhance overall system reliability and performance, making them highly attractive to industries where uptime is critical. Materials science is playing a crucial role in advancing centrifugal compressor technology. The development of high-strength, corrosion-resistant materials is expanding the range of applications for these compressors. This is particularly important in industries like petrochemicals and offshore oil and gas, where harsh operating conditions demand robust equipment. The use of composite materials is also gaining traction, offering weight savings and improved efficiency.

Furthermore, variable speed drives (VSDs) are becoming more widespread. VSDs allow for precise control of compressor speeds, matching output to demand. This not only increases efficiency but also extends the lifespan of the equipment. VSD-equipped centrifugal compressors are particularly valuable in industries where load variability is common. In conclusion, technological advancements are reshaping the global centrifugal compressor market by delivering higher efficiency, improved reliability, and reduced environmental impact. These innovations are not only meeting the needs of traditional industries but are also expanding the range of applications, ensuring that centrifugal compressors remain a critical component in various sectors such as oil and gas, manufacturing, and HVAC, while contributing to sustainability goals and cost savings. As these advancements continue to evolve, the future of centrifugal compressors appears promising and adaptable to the changing demands of the global market.


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Key Market Challenges

Price Sensitivity

Price sensitivity is a significant challenge that can hamper the growth and profitability of the global centrifugal compressor market. This sensitivity arises from various factors and poses several obstacles to both manufacturers and buyers in the industry.  High Initial Investment: Centrifugal compressors, especially those designed for high-capacity or specialized applications, can be capital-intensive. Buyers, particularly in industries with tight budgets, may be reluctant to make substantial upfront investments, hindering market growth. Competitive Pricing Pressure: The global centrifugal compressor market is highly competitive, with numerous manufacturers vying for market share. Intense competition often leads to price wars and compressed profit margins. Manufacturers may find it challenging to maintain pricing levels that allow for sustainable business growth.

Economic Downturns: Economic downturns and recessions can significantly impact industrial sectors that rely on centrifugal compressors. During periods of economic uncertainty, companies may delay or cancel capital expenditure projects, leading to decreased demand for compressors. Operational Costs: Beyond the initial purchase price, centrifugal compressors entail ongoing operational costs related to maintenance, energy consumption, and spare parts. Price-sensitive buyers may opt for cheaper models that offer lower upfront costs but may end up with higher operational costs in the long run.

Budget Constraints: Many industries operate within strict budgets, and price sensitivity can constrain their ability to invest in new or upgraded compressor systems. This can result in deferred maintenance or the continued use of older, less efficient compressors. Return on Investment (ROI) Considerations: Companies often evaluate the ROI of capital investments, including centrifugal compressors. High-priced compressors may require longer payback periods, which can deter budget-conscious decision-makers. Alternative Technologies: Emerging compressor technologies, such as screw compressors and scroll compressors, can sometimes offer cost-effective alternatives to traditional centrifugal compressors in certain applications. Price-sensitive buyers may opt for these alternatives, reducing demand for centrifugal compressors.

Global Market Variations: Price sensitivity can vary significantly by region and market segment. Manufacturers must navigate these regional differences in buyer preferences and budget constraints. To address the challenge of price sensitivity in the global centrifugal compressor market, manufacturers must focus on a few key strategies, Product Diversification: Offering a range of compressor models with varying price points and features can appeal to a broader customer base. Value Proposition: Highlighting the long-term cost savings and benefits, such as energy efficiency and reduced maintenance requirements, can justify the initial higher cost of premium centrifugal compressors.

Customer Education: Educating buyers about the total cost of ownership and the advantages of investing in higher-quality compressors can help them make informed decisions. Innovation: Continuously innovating to reduce manufacturing costs without compromising product quality can help manufacturers maintain competitive pricing. Market Expansion: Exploring new markets and regions with lower price sensitivity can mitigate the impact of price-sensitive buyers in existing markets. In conclusion, while price sensitivity is a significant challenge in the global centrifugal compressor market, manufacturers can address it through strategic pricing, product diversification, and a focus on delivering value to customers. Understanding regional variations in sensitivity and adapting strategies accordingly can also help maintain a competitive edge in this dynamic industry.

Environmental Concerns

Environmental concerns are increasingly becoming a significant obstacle to the growth of the global centrifugal compressor market. As awareness of climate change and environmental sustainability rises, industries are facing mounting pressure to reduce their carbon footprint and minimize harmful emissions. These concerns are particularly relevant to the use of centrifugal compressors in various sectors, and they pose several challenges to the industry. Emissions Regulations: Governments and international bodies are implementing stringent emissions regulations across industries such as oil and gas, petrochemicals, and manufacturing. Centrifugal compressors used in these sectors must comply with these regulations, often necessitating costly retrofits or the adoption of cleaner technologies.

Carbon Reduction Goals: Many industries are setting ambitious carbon reduction targets as part of their sustainability initiatives. Achieving these goals often requires the replacement of older, less efficient compressors with more environmentally friendly alternatives or the implementation of advanced emission control technologies. Energy Efficiency: Environmental concerns are closely tied to energy efficiency. Inefficient centrifugal compressors consume more energy and contribute to higher greenhouse gas emissions. Industries are under pressure to adopt more energy-efficient compressor systems to reduce their environmental impact.

Alternative Technologies: Emerging compressor technologies that have a smaller environmental footprint, such as oil-free compressors and variable frequency drives, are gaining popularity. These alternatives can displace traditional centrifugal compressors in certain applications, affecting market demand. Noise Pollution: Centrifugal compressors can be noisy, leading to concerns about noise pollution in residential and urban areas. Compliance with noise regulations can add complexity and cost to compressor installations. Material Selection: The choice of materials for centrifugal compressor components can impact their environmental impact. Industries are increasingly looking for sustainable materials with lower embodied carbon and longer lifespans.

Circular Economy: Sustainability principles, including the circular economy, are gaining traction. Industries are exploring options for reusing and recycling compressor components, reducing waste, and minimizing their environmental footprint throughout the product lifecycle. Green Supply Chains: Companies are scrutinizing their supply chains for environmental sustainability. Manufacturers of centrifugal compressors must ensure that their suppliers adhere to sustainable practices, including responsible sourcing of End Users. To overcome these challenges, manufacturers in the centrifugal compressor market need to prioritize sustainability in their product development, investing in research and innovation to create environmentally friendly and energy-efficient compressor systems. They should also collaborate with industries to develop solutions that align with their sustainability goals. Additionally, businesses can leverage certifications and standards related to environmental performance to demonstrate their commitment to reducing their environmental impact, thereby remaining competitive in an increasingly environmentally conscious market.

Key Market Trends

Digitalization and IoT Integration

Digitalization and IoT (Internet of Things) integration are poised to be powerful drivers in transforming the global centrifugal compressor market. These trends represent a fundamental shift in how compressors are monitored, controlled, and maintained, leading to improved efficiency, reduced downtime, and enhanced performance. Here's how digitalization and IoT integration are driving the global centrifugal compressor market, Real-time Monitoring and Control: IoT-enabled centrifugal compressors are equipped with sensors that continuously collect data on various operating parameters, including temperature, pressure, and vibration. This real-time data is transmitted to centralized systems, allowing operators to monitor and control compressors remotely. This capability enhances overall system efficiency and reliability.

Predictive Maintenance: IoT integration enables predictive maintenance through data analytics and machine learning algorithms. By analyzing historical and real-time data, these systems can predict when maintenance is required, allowing for proactive servicing to prevent unexpected breakdowns and costly downtime. Energy Efficiency: Digitalization allows for precise control of compressor operations. Centrifugal compressors equipped with IoT technology can adjust their speed and output to match the varying demand. This results in significant energy savings by avoiding over-compression and reducing energy consumption during periods of lower demand. Condition-based Monitoring: IoT-enabled compressors can continuously assess their own condition. If anomalies or performance deviations are detected, the system can alert operators in real time, enabling quick intervention to avoid equipment failures and production disruptions.

Remote Troubleshooting: IoT integration allows for remote troubleshooting and diagnostics. Experts can analyze compressor performance data from anywhere in the world, facilitating rapid identification and resolution of issues without the need for on-site visits. Improved Reliability: The ability to monitor and analyze compressor data in real time leads to improved reliability and reduced downtime. Industries that rely on uninterrupted operations, such as petrochemicals and manufacturing, benefit significantly from this enhanced reliability. Customized Solutions: IoT-enabled compressors can be fine-tuned to meet specific operational needs. Operators can adjust parameters and settings remotely to optimize performance for different processes and conditions.

Data-driven Decision-making: Access to a wealth of data generated by IoT-equipped compressors enables data-driven decision-making. Operators can use this data to optimize compressor performance, schedule maintenance, and identify areas for improvement. Reduced Environmental Impact: Greater efficiency and reduced energy consumption resulting from digitalization align with sustainability goals. Companies can minimize their carbon footprint and environmental impact by adopting IoT-enabled, energy-efficient centrifugal compressors. Competitive Advantage: Companies that embrace digitalization and IoT integration gain a competitive edge. They can offer more reliable and efficient services, attract customers seeking cutting-edge solutions, and differentiate themselves in the market. In conclusion, digitalization and IoT integration are revolutionizing the global centrifugal compressor market by enhancing efficiency, reliability, and remote monitoring capabilities. As industries seek to optimize their operations, reduce costs, and meet sustainability targets, IoT-enabled centrifugal compressors are becoming a critical component of modern industrial processes. Manufacturers that invest in digitalization and IoT technologies are poised to meet the evolving needs of customers and drive the market forward.

Oil-Free Compressors

Oil-free centrifugal compressors are emerging as a key driver in the global centrifugal compressor market, reshaping the landscape of compressed air and gas applications across various industries. These compressors are gaining prominence due to their ability to deliver clean, oil-free air, which is essential in industries where air quality is paramount, such as food and beverage, pharmaceuticals, electronics, and healthcare. Here's how oil-free compressors are driving the global centrifugal compressor market, Critical Air Quality Requirements: Industries like pharmaceuticals and electronics manufacturing demand pristine air quality to ensure product integrity and prevent contamination. Oil-free centrifugal compressors eliminate the risk of oil contamination in compressed air, making them the ideal choice for applications where air purity is crucial.

Compliance with Regulations: Stringent environmental regulations and industry standards necessitate the use of oil-free compressors in certain applications. These regulations aim to protect consumer health and the environment by ensuring that compressed air does not contain oil or other contaminants. Food and Beverage Industry: In the food and beverage industry, where air comes into direct contact with products, oil-free compressors are essential to maintain the highest hygiene standards. These compressors prevent oil contamination in compressed air used for processes like packaging, bottling, and food handling. Pharmaceutical Manufacturing: Pharmaceutical manufacturing demands uncompromised air quality to meet Good Manufacturing Practices (GMP) and regulatory requirements. Oil-free compressors are integral for producing compressed air used in pharmaceutical processes, including formulation, coating, and packaging. Electronics and Semiconductor Manufacturing: The electronics and semiconductor industry relies on oil-free air for clean environments within cleanrooms. Any oil contamination in compressed air can damage sensitive components and jeopardize semiconductor production.

Healthcare and Medical Applications: Hospitals and healthcare facilities use oil-free compressors for medical air systems, where air quality directly affects patient health. These compressors ensure the delivery of pure, contaminant-free air for respiratory therapy and surgical equipment. Environmental Concerns: Growing environmental awareness and sustainability initiatives have led industries to opt for oil-free compressors as part of their efforts to reduce carbon footprints and minimize environmental impact. Rapid Technological Advancements: Continuous advancements in oil-free compressor technology have improved their performance, efficiency, and reliability. These innovations have made oil-free compressors more competitive and attractive to a broader range of applications.

Energy Efficiency: Some oil-free centrifugal compressors incorporate energy-efficient features, such as variable frequency drives (VSDs), to enhance efficiency while maintaining air purity. This makes them appealing to industries focused on energy conservation. In conclusion, the global centrifugal compressor market is witnessing a surge in demand for oil-free compressors due to their ability to meet stringent air quality requirements across diverse industries. As regulations become more rigorous and industries prioritize clean air, oil-free centrifugal compressors are positioned to play an increasingly vital role, driving market growth and innovation. Manufacturers are expected to continue developing advanced oil-free compressor technologies to cater to the expanding demand for clean and oil-free compressed air and gas.

Segmental Insights

End-User Insights

Oil and Gas segment is expected to dominate the market during the forecast period. The oil and gas industry offers widespread applications for centrifugal compressors across the upstream, midstream, and downstream sectors. Centrifugal compressors serve various purposes across the oil and gas industry, such as gas transportation, compression for gas injection, gas gathering, gas lift, etc.

In oil and gas upstream operations, gas lifts are used, in which low-pressure gas (3 to 7 bar) is compressed to a higher pressure and recycled down the well casing-tubing annulus through a gas lift valve at a predetermined depth that enables lightening the liquid column in the tubing.

Centrifugal compressors are used in later phases to maintain or increase gas flow into the pipeline systems in gas fields, as the reservoir pressure tends to decrease over time. The gas reinjection is used for enhanced oil recovery (EOR) to compensate for the natural decline in production from the oil fields.


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Regional Insights

Asia Pacific is expected to dominate the market during the forecast period. The Asia-Pacific dominated the global market share in 2021. The oil and gas and power industries remain the largest end users of these compressors in the region. Several floating production storage and offloading (FPSOs) projects in the Asia-Pacific are expected to begin operations over the next four years. Increasing FPSO projects are expected to create tremendous opportunities in the market studied.

The Asia-Pacific is witnessing a widespread development of industrial infrastructure, leading to a surge in demand for power. New power plants need to be developed as the requirement of continuous power supply is imperative for industrial operations. Therefore, the increase in the development of power generation plants, particularly gas-fired generation plants, is expected to drive the demand for centrifugal compressors during the forecast period.

Recent Developments

  • In October 2022, Cairn India planned to invest nearly USD 5 billion by 2025-26 on the expansion of its operations in India. Out of the total, USD 3 billion is expected to be on Rajasthan block. Such investments are expected to increase the demand for centrifugal compressors during the forecast period.
  • In June 2021, INOXCVA, an Indian multinational company, commissioned the United Kingdom’s first-ever multifunctional mini-LNG terminal in Kyleakin, Scotland, for MOWI Scotland. INOXCVA manufactured and supplied the mini-LNG terminal on a turnkey supply basis to the company. The project includes two 1000 cubic meters of vacuum insulated storage tanks, 300-meter vacuum jacketed piping, a ship bunkering station, a trailer loading station, and a vaporization system suitable for natural gas consumption by a fish feed factory. The mini-LNG terminal is capable of taking LNG through small-scale vessels as well as by semi-trailers and IMO containers.​

Key Market Players

  • Atlas Copco AB
  • Ingersoll Rand Inc.
  • Baker Hughes Company
  • Sundyne
  • Elliott Group
  • Howden Group
  • Mitsubishi Heavy Industries Ltd
  • HMS Group
  • Borsig GmbH  

By End-User

By Region

 

  • Oil and Gas
  • Power Sector
  • Petrochemical and Chemical Industries
  • Other
  • North America
  • Europe
  • South America
  • Middle East & Africa
  • Asia Pacific

 

 

           

Report Scope:

In this report, the Global Centrifugal Compressor Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Centrifugal Compressor Market, By End-User:

o   Oil and Gas

o   Power Sector

o   Petrochemical and Chemical Industries

o   Other  

  • Global Centrifugal Compressor Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Indonesia

o   Europe

§  Germany

§  United Kingdom

§  France

§  Russia

§  Spain

o   South America

§  Brazil

§  Argentina

o   Middle East & Africa

§  Saudi Arabia

§  South Africa

§  Egypt

§  UAE

§  Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Centrifugal Compressor Market.

Available Customizations:

Global Centrifugal Compressor Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Centrifugal Compressor Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.3.  Markets Covered

1.4.  Years Considered for Study

1.5.  Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global Centrifugal Compressor Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By End User (Oil and Gas, Power Sector, Petrochemical and Chemical Industries, Other)

5.2.2.    By Region

5.3.  By Company (2022)

5.4.  Market Map

6.    North America Centrifugal Compressor Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By End User

6.2.2.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Centrifugal Compressor Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By End User

6.3.2.    Canada Centrifugal Compressor Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By End User

6.3.3.    Mexico Centrifugal Compressor Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By End User

7.    Asia-Pacific Centrifugal Compressor Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By End User

7.2.2.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Centrifugal Compressor Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By End User

7.3.2.    India Centrifugal Compressor Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By End User

7.3.3.    Japan Centrifugal Compressor Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By End User

7.3.4.    South Korea Centrifugal Compressor Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By End User

7.3.5.    Indonesia Centrifugal Compressor Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By End User

8.    Europe Centrifugal Compressor Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By End User

8.2.2.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Centrifugal Compressor Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By End User

8.3.2.    United Kingdom Centrifugal Compressor Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By End User

8.3.3.    France Centrifugal Compressor Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By End User

8.3.4.    Russia Centrifugal Compressor Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By End User

8.3.5.    Spain Centrifugal Compressor Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By End User

9.    South America Centrifugal Compressor Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By End User

9.2.2.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Centrifugal Compressor Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By End User

9.3.2.    Argentina Centrifugal Compressor Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By End User

10. Middle East & Africa Centrifugal Compressor Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By End User

10.2.2. By Country

10.3.             Middle East & Africa: Country Analysis

10.3.1.  Saudi Arabia Centrifugal Compressor Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By End User

10.3.2. South Africa Centrifugal Compressor Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By End User

10.3.3. UAE Centrifugal Compressor Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By End User

10.3.4. Israel Centrifugal Compressor Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By End User

10.3.5. Egypt Centrifugal Compressor Market Outlook

10.3.5.1.     Market Size & Forecast

10.3.5.1.1.         By Value

10.3.5.2.     Market Share & Forecast

10.3.5.2.1.         By End User

11. Market Dynamics

11.1.   Drivers

11.2.   Challenge

12. Market Trends & Developments

13. Company Profiles

13.1.             Atlas Copco AB  

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2.             Ingersoll Rand Inc.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3.             Baker Hughes Company

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4.             Sundyne

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5.             Elliott Group   

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6.             Howden Group   

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7.             Mitsubishi Heavy Industries Ltd   

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8.             HMS Group  

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9.             Borsig GmbH  

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer  

Figures and Tables

Frequently asked questions

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The market size of the Global Centrifugal Compressor Market was USD 13.74 Billion in 2022.

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The Global Centrifugal Compressor Market was dominated by the Oil and Gas segment in 2022.

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Declining costs and increasing investments in renewable power generation hinder market growth during the forecast period.

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Several centrifugal compressor manufacturers strive to develop more energy-efficient products during rising end-user demands and changing energy efficiency standards, drive the market.

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Parvati Sharma

Account Manager BD
Press Release

Oil and Gas Segment is Expected to Dominate the Global Centrifugal Compressor Market

Nov, 2023

To fulfill the increasing demand for gas, governments worldwide are planning to invest in expanding the infrastructure are major factor attributable to the growth of the market.