The global turbocompressors market size reached US$ 19.9 Billion in 2023. Looking forward, the market is expected to reach US$ 32.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2023-2032.
Turbocompressors are widely used in process plants to concentrate a compressible gas via dynamic principles. They also find application in the gas supply chain, energy recovery, and power generation during natural gas processing and petrochemical production. At present, they are widely available in various types, depending on the requirement of end users. For instance, water turbocompressors help produce refrigerants for the liquefaction of gases, such as oxygen, nitrogen, and helium, in different industrial processes. In addition, product variants operated by radial turbines provide a large capacity to absorb or deliver power, which helps boost the power of diesel engines.
They are also introducing lightweight, compact, and high-performance product variants with low energy costs and user-friendly microprocessors to stay competitive in the market. These variants have high power density and reliability, which help reduce the noise level and save fuel, resources, and energy. This, coupled with the boosting sales of vehicles on account of inflating income levels, is anticipated to increase the utilization of turbocompressors in the automotive industry for a reliable and cost-effective supply of oil-free compressed air.
2. What is the expected growth rate of the global turbocompressors market during 2024-2032?
3. What are the key factors driving the global turbocompressors market?
4. What has been the impact of COVID-19 on the global turbocompressors market?
5. What is the breakup of the global turbocompressors market based on the type?
6. What is the breakup of the global turbocompressors market based on the stage?
7. What is the breakup of the global turbocompressors market based on the end user?
8. What are the key regions in the global turbocompres market?
9. Who are the key players/companies in the global turbocompressors market?
Turbocompressors are widely used in process plants to concentrate a compressible gas via dynamic principles. They also find application in the gas supply chain, energy recovery, and power generation during natural gas processing and petrochemical production. At present, they are widely available in various types, depending on the requirement of end users. For instance, water turbocompressors help produce refrigerants for the liquefaction of gases, such as oxygen, nitrogen, and helium, in different industrial processes. In addition, product variants operated by radial turbines provide a large capacity to absorb or deliver power, which helps boost the power of diesel engines.
Turbocompressors Market Trends:
Surging energy needs, along with a rapid rise in the installation of turboexpanders in offshore oil production sites, represents one of the major factors fueling the demand for turbocompressors in oil and gas facilities across the globe. Moreover, industries worldwide are emphasizing upgrading their existing turbocompressors with the latest high-efficiency impellers, blades, and sealing technologies. This is propelling leading players in improving the overall performance and reducing operational expenditures (OPEX) of machines. Apart from this, due to high requirements on efficiency and optimized specific power consumption, these players are focusing on improving the aerodynamic features of rotating equipment.They are also introducing lightweight, compact, and high-performance product variants with low energy costs and user-friendly microprocessors to stay competitive in the market. These variants have high power density and reliability, which help reduce the noise level and save fuel, resources, and energy. This, coupled with the boosting sales of vehicles on account of inflating income levels, is anticipated to increase the utilization of turbocompressors in the automotive industry for a reliable and cost-effective supply of oil-free compressed air.
Key Market Segmentation:
This report provides an analysis of the key trends in each sub-segment of the global turbocompressors market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, stage and end user.Breakup by Type:
- Centrifugal Compressors
- Axial Compressors
Breakup by Stage:
- Single Stage
- Multi-stage
Breakup by End User:
- Oil and Gas
- Power Generation
- Chemical
- Water and Wastewater
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Atlas Copco AB, BorgWarner Inc., Continental AG, Cummins Inc., Eaton Corporation plc, Howden Group Holdings Ltd, Ingersoll Rand Inc., Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE (Volkswagen AG), Mitsubishi Heavy Industries Ltd, Siemens AG and Sulzer Ltd.Key Questions Answered in This Report
1. How big is the global turbocompressors market?2. What is the expected growth rate of the global turbocompressors market during 2024-2032?
3. What are the key factors driving the global turbocompressors market?
4. What has been the impact of COVID-19 on the global turbocompressors market?
5. What is the breakup of the global turbocompressors market based on the type?
6. What is the breakup of the global turbocompressors market based on the stage?
7. What is the breakup of the global turbocompressors market based on the end user?
8. What are the key regions in the global turbocompres market?
9. Who are the key players/companies in the global turbocompressors market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Turbocompressors Market
6 Market Breakup by Type
7 Market Breakup by Stage
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Atlas Copco AB
- BorgWarner Inc.
- Continental AG
- Cummins Inc.
- Eaton Corporation plc
- Howden Group Holdings Ltd
- Ingersoll Rand Inc.
- Kawasaki Heavy Industries Ltd.
- MAN Energy Solutions SE (Volkswagen AG)
- Mitsubishi Heavy Industries Ltd
- Siemens AG
- Sulzer Ltd
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | September 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 19.9 Billion |
| Forecasted Market Value ( USD | $ 32.5 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
