According to IMARC Group’s latest report, titled “Gas Compressor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global gas compressor market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global market to grow at a CAGR of around 8% during 2021-2026.
Gas compressors are mechanical devices used to increase the static pressure of a gas by decreasing the volume. Two commonly used gas compressors are positive displacement and dynamic gas compressors. Positive displacement compressors comprise rotary and reciprocating variants that compress the gas by confining it in a closed space and increasing the pressure. Whereas the dynamic compressor employs a centrifugal and axial compressor that compresses the gas through the mechanical impellers or rotating vanes. These compressors are used for gases, such as ethylene, fluorine, argon, etc. As a result, they find numerous applications in manufacturing, construction, oil & gas, chemicals and petrochemicals, and power generation.
The significantly growing oil and gas industry is propelling the gas compressor market. Additionally, the widespread adoption of compressors for processing and transporting renewable energy resources over long distances also augment the product demand. Moreover, rising utilization in hospitals during surgical procedures and in air filtration duct systems to maintain air quality and prevent contamination further drives the global gas compressor market growth. The demand is also catalyzed by the advent of energy-efficient portable compressors for industrial automation and innovative product variants with enhanced performance capabilities, improved storage tanks, requiring minimal maintenance and fuel consumption.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Gas Compressor Market 2021-2026 Competitive Analysis and Segmentation:
The competitive landscape of the global gas compressor market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the gas compressor market on the basis of compressor type, end use industry and region.
Breakup by Compressor Type:
Breakup by End Use Industry:
Breakup by Region:
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Key highlights of the report:
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