Turbocompressor Market 2019 Global Size, Growth Trends, And Regional Outlook to 2023 is latest report published by Market Research Future. Global Turbocompressor Market is to grow at healthy CAGR by 2023. Global Turbocompressor Market by application, type, and stage. By application, the market has been segmented into chemical, oil & gas, power generation, offshore, and others. By type, the market has been segmented into centrifugal and axial. By stage, the market has been segmented into single stage and multi-stage.
Report provides comprehensive market data on Turbocompressor industry manufacturers, distributors, suppliers, consulting companies from Turbocompressor market and mobility industry, investors, stakeholders, and research organizations.
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Turbocompressor Key Players Analyzed in Report:
Siemens AG, Kobe Steel Ltd., Sundyne Corporation, SKF, Elliott Group, GE Oil & Gas, Hitachi Ltd., Kawasaki Heavy Industries, Ltd., Ingersoll Rand, Rotating Machinery Services, Inc., Sullivan-Palatek, Inc., Bauer Compressors, Inc., Sulzer Ltd., Howden Group Ltd, Mitsubishi Heavy Industries, Ltd., Man Diesel & Turbo SE, Gardner Denver, Inc., Atlas Copco AG, have been identified as the leading players in the worldwide market for turbocompressor.
The turbocompressor market is all set to achieve a strong growth rate during the forecast period (2018-2023), says Market Research Future (MRFR).
Turbocompressors’ main purpose of use is in the processing and transmission of natural gas. They also find use in storage sections of the oil and gas industry. Some of their applications include chemical and petrochemical plants as well as oil refineries. Therefore, surge in trade and increasing natural gas can benefit the turbocompressor market in the coming years. Turbocompressors are also extensively used in auxiliary power units as well as gas turbines. These compressors also find use in ventilation, air-conditioning and heating in electric hybrid vehicles.
The expansion of the global turbocompressor market size can be ascribed to the rising adoption of turbocompressors for chemical processes and power generation combined with the surging trade of liquefied natural gas (LNG) between countries. Additionally, fast-paced industrialization in countries like India and China owing to low oil prices can also induce growth of the global market. Growth of industries like assembly, automotive production as well as introduction of new industries like non-oil and gas sector in the region of Middle East can also quicken the growth rate of the turbocompressor market. With the emergence of advanced technologies, the cost of turbocompressors has declined significantly, which is expected to boost its demand in the coming years.
On the downside, strict environmental regulations within the oil and gas sector could obstruct the market growth in the following years. Having said that, introduction of advanced technologies coupled with the surging use of turbocompressors in CO2 transmissions are believed to be potential sources of growth opportunities in the turbocompressor market.
The worldwide market for turbocompressor can be segmented depending on application, type, and stage.
Given the application segment, the market has been considered for oil & gas, chemical, offshore, power generation, and others.
With respect to the type, the market segments are axial and centrifugal.
Stage-wise, the market consists of single stage and multi-stage.
North America, Asia Pacific (APAC), Europe along with the Middle East and Africa (MEA) are identified as the primary markets for turbocompressor and have been studied extensively, taking into account the latest trends as well as growth opportunities.
The APAC market for turbocompressor is quite robust and stands to benefit from the rapid industrialization paired with the surge in favorable regulations implemented by governments. In addition, reduction in oil prices in India and China has also boosted the market growth to some extent. The regional market can retain its supremacy over other regions in the near future, thanks to the presence of highly regarded chemical plants as well as oil refineries.
North America is one of the strongest investment pockets in the global turbocompressor market and is getting significant boost from the shale gas revolution as well as the booming energy sector and crude oil production. The largest turbocompressor market in the region has been estimated to be in the United States (U.S.) since the country has noted shale gas revolution, which has taken the production to peak levels. Surge in the crude oil production in North America is also believed to be another important growth-inducing factor in the market.
The Europe market for turbocompressor is growing at an impressive pace, thanks to the high concentration of well-established turbocompressor manufacturing bases. The turbocharger market in the region is also backed by rigid emission & fuel-efficiency regulations along with the downsizing of engine to bring down the vehicle weight. Rising penetration of turbochargers in GDI engines as well as electric turbochargers can give rise to growth opportunities for the market in the foreseeable future.
The MEA turbo compressor market has the potential to mount steadily in the years ahead, on account of the advancements in the new oil and gas refinery sector.
List Of Tables
Table Of Content
1. Executive Summary
2. Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3. Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Supply Chain Analysis
4. Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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