Nov 22, 2017   SOURCE: BusinessWire

India Centrifugal Compressor Market 2017-2023: Forecast By Technology, Sub-Segment, Applications and Competitive Landscape - Research and Markets

The "India Centrifugal Compressor Market (2017-2023): Forecast By Technology, Sub-Segment, Applications and Competitive Landscape" report has been added to Research and Markets' offering

India centrifugal compressors market is projected to grow at a CAGR of 4.7% during 2017-2023.

The market for centrifugal compressors is projected to post substantial growth over the coming years primarily due to rise in number of industries such as oil & gas, steel, and cement as well as increasing government initiatives on providing energy efficient solutions. Additionally, Centrifugal compressors market is expected to witness high growth during the forecast period owing to certain key features such as energy efficiency and noiseless operation.

According to research, Rising environmental & safety regulations, efficient use of energy along with robust industrial growth is expected to propel the market of centrifugal compressors in the country. India centrifugal compressors market is also registering potential demand for high-capacity compressors, providing ample opportunities for global companies to penetrate the market.

Oil & gas industry recorded highest revenue share in 2016 and is further likely to enhance the demand for centrifugal compressors during the forecast period on the back of rising adoption of several practices primarily from injection of high pressure gas for oil recovery.

India's overall industrial sector grew at over 7% during FY 2015-17; wherein, the manufacturing and electricity, gas, water supply and other utility services sub-sectors collectively enjoyed 10% growth. The growth registered in these areas would spur the market demand for centrifugal compressors.

Markets Covered

The report provides detailed analysis of the following market segments:

  • By Technology:
    • Centrifugal Gas Compressor
    • Centrifugal Air Compressor
  • By Sub-Segment:
    • Single Stage Centrifugal Gas Compressor
    • Multi Stage Centrifugal Gas Compressor
    • Single Stage Centrifugal Air Compressor
    • Multi Stage Centrifugal Air Compressor
  • By Application:
    • Oil & Gas
    • Power
    • Petrochemical, Chemical and Fertilizers
    • Others

Companies Mentioned

  • Atlas Copco (India) Limited
  • Bharat Heavy Electrical Limited
  • Elgi Equipments Limited
  • FS Compressors India Pvt. Limited
  • General Electric (GE)
  • Ingersoll-Rand (India) Limited
  • Kirloskar Pneumatic Company Limited
  • Siemens India Limited

For more information about this report visit https://www.researchandmarkets.com/research/2pvl2g/india_centrifugal