Mar 31, 2020   SOURCE: BusinessWire

Global Compressor Market (2020 to 2025) - Growth, Trends and Forecast - ResearchAndMarkets.com

The "Compressor Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The global compressor market is expected to grow at a CAGR of about 4.15% over the period of 2020-2025.

Factors such as growing demand for natural gas which, in turn, is leading to growing gas pipeline network is expected to be one of the most significant drivers for the compressor market during the forecast period. Apart from that, the emerging countries, such as India, Vietnam, and Malaysia are encouraging the foreign investments in the manufacturing industry through several government programs, which, in turn, is expected to drive the manufacturing sector, in turn supporting the demand for compressors during the forecast period.

However, consumers opt to service and continue usage of existing compressors as opposed to investing in new installations, in order to reduce capital expenditure, since the cost of new compressor is significantly high. This along with emission of methane in the atmosphere from the compressors, leading to environmental issues are the restraining factors during the forecast period.

The coal consumption in Europe has been on a decline since 2013 from 377 million tonnes to 307 million tonnes in 2018. This has led to increased dependence on gas for power as a substitute for coal and create huge opportunity for the compressor market.

Asia-Pacific is the largest market and is also expected to dominate the market during the forecast period, driven by China and India due to growing natural gas infrastructure in these countries.

Key Market Trends

Oil and Gas Segment to Dominate the Market

  • The global demand for natural gas is expected to increase by 1.6%, y-o-y, for the next five years, with the consumption reaching almost 4,200 billion cubic meter (bcm) by 2025, up from 3,800 bcm in 2018.
  • The consumption of natural gas is expected to witness the fastest growth among all fuel types. The lower cost, in comparison with other fossil fuel types, is expected to supplement the demand for natural gas, during the forecast period.
  • The LNG trade is expected to witness a significant increase across the world, resulting in increased demand for natural gas pipeline network, which, in turn, is an upcoming opportunity for the compressor market.
  • Driven by a determined policy effort to improve air quality, China contributed significantly to the increase in natural gas demand in 2018, which led to an unprecedented surge in LNG imports, placing China as the world's second-largest LNG importer, after Japan.

Asia-Pacific to Dominate the Market

  • Asia-Pacific is home to some of the largest consumer and largest importer countries of natural gas in the world. This region is still primarily dependent on oil and coal for its energy needs. But recent trend is towards increasing use of natural gas owing to growing concerns over the air pollution.
  • Power generation and manufacturing industry are the biggest consumers of natural gas in this region. Increasing demand for electricity in countries, such as India and China is expected to drive natural gas demand.
  • Urbanization and increasing middle class in countries in Asia-Pacific region are expected to drive the growth of residential gas consumption. The growing gas consumption is expected to help drive the gas compressor demand in midstream gas industry, as well as power and manufacturing industry.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2025

4.3 Recent Trends and Developments

4.4 Government Policies and Regulations

4.5 Market Dynamics

4.5.1 Drivers

4.5.2 Restraints

4.6 Supply Chain Analysis

4.7 Porter's Five Forces Analysis

4.7.1 Bargaining Power of Suppliers

4.7.2 Bargaining Power of Consumers

4.7.3 Threat of New Entrants

4.7.4 Threat of Substitutes Products and Services

4.7.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 End-User

5.1.1 Oil & Gas Industry

5.1.2 Power Sector

5.1.3 Manufacturing Sector

5.1.4 Chemicals and Petrochemical Industry

5.1.5 Other End-Users

5.2 Type

5.2.1 Positive Displacement

5.2.2 Dynamic

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 South America

5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

6.3.1 Aerzener Maschinenfabrik GmbH

6.3.2 Ariel Corporation

6.3.3 Atlas Copco AB

6.3.4 Baker Hughes Co.

6.3.5 Bauer Compressors Inc.

6.3.6 Burckhardt Compression Holding AG

6.3.7 Ebara Corporation

6.3.8 Ingersoll Rand PLC

6.3.9 Siemens AG

6.3.10 Sulzer AG

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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