Global Centrifugal Compressor Market Report 2019-2024 - Anticipated to Register a CAGR of 4.23% During the Forecast Period - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 13, 2019--The “Centrifugal Compressor Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The market for centrifugal compressors is expected to grow at a CAGR of 4.23% during the forecast period of 2019-2024.
Major factors driving the market studied are the expected increase in the uptake of newer oil & gas projects in the coming years and the growing need to expand natural gas pipeline infrastructure.
The declining cost of and increasing investments in renewable power generation are hampering the demand for natural gas-fired power generation, in turn, negatively impacting the demand for centrifugal compressors in the power generation industry.
Oil & Gas industry dominated the market in 2018 and is expected to be the fastest growing segment during the forecast period owing to the increasing oil and gas activities across the world.
Manufacturers are making strides to become more energy-efficient, amidst rising end-user demands and changing energy efficiency standards, in several nations. If the manufacturers manage to increase the efficiency of centrifugal compressors at significant levels, the centrifugal compressors can become the preferred choice in a wider range of applications, in turn, driving the market.
Asia-Pacific dominated the market across the globe with China and India accounting for a major share.
Key Market Trends
Increasing Demand for Cost-Optimized Solutions
Asia-Pacific to Dominate the Market
The global centrifugal compressor market has been fragmented in nature, with the presence of a large number of manufacturers. Atlas Copco, Ingersoll Rand, and Gardner Denver were among the top providers of the centrifugal compressors across the world. Other prominent companies include Baker Hughes (a GE Company), Dresser Rand (Siemens), and Mitsubishi Heavy Industries.
The centrifugal compressor market has witnessed a declining number of manufacturers, due to merger and acquisition of smaller manufacturers by the big organizations.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2 Market Size and Demand Forecast till 2024
4.3 Recent Trends and Developments
4.6 Industry Supply Chain Analysis
4.7 Porters 5 Forces Analysis
5 MARKET SEGMENTATION
5.1 End User
5.1.1 Oil and Gas
5.1.2 Power Sector
5.1.3 Petrochemical and Chemical Industries
5.1.4 Other End Users
5.2.1 North America
5.2.4 Middle East & Africa
5.2.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Strategies Adopted by the Key Players
6.3 Company Profiles
6.3.1 Atlas Copco AB
6.3.2 Ingersoll-Rand PLC
6.3.3 Baker Hughes a GE Co.
6.3.5 Gardner Denver Holdings Inc
6.3.6 Dresser-Rand Group Inc.
6.3.7 Howden Group
6.3.8 Mitsubishi Heavy Industries Compressor Corporation
6.3.9 Sullair, LLC
6.3.10 Zhejiang Kaishan Compressor Co. Ltd.
6.3.11 Kobe Steel, Ltd.
6.3.12 Air Products & Chemicals, Inc.
6.3.13 Shenyang Blower Works Group Corporation.
6.3.14 Hitachi, Ltd.
6.3.15 MAN Energy Solutions SE
6.3.16 Xi’an Shaanxi Drum Power Co. Ltd.
6.3.17 Elliott Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/d6wvbk
View source version on businesswire.com:https://www.businesswire.com/news/home/20190513005381/en/
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INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/13/2019 06:38 AM/DISC: 05/13/2019 06:38 AM