The global market for Turbocompressors is estimated at US$17.1 Billion in 2023 and is projected to reach US$26.3 Billion by 2030, growing at a CAGR of 6.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the turbocompressors market is driven by several factors, reflecting the evolving needs of various industries and the global push towards sustainability and efficiency. The global shift towards reducing carbon footprints and embracing cleaner energy sources has significantly boosted the demand for turbocompressors. These compressors are vital in applications that contribute to sustainability, such as in the production of green hydrogen, carbon capture and storage (CCS), and renewable energy projects, including wind and solar power generation. Rapid industrialization, especially in emerging economies, drives the need for compressed air and gas in various manufacturing processes.
Turbocompressors are essential in sectors like chemicals, petrochemicals, oil and gas, and manufacturing, where they support production efficiency and process optimization. As energy costs continue to rise, the demand for energy-efficient solutions becomes more pronounced. The rise of industrial automation and the adoption of Industry 4.0 principles are further contributing to the market expansion, with smart turbocompressors offering enhanced monitoring and control capabilities.
Infrastructure development, particularly in emerging economies, is also boosting demand for turbocompressors in water treatment, HVAC systems, and other critical infrastructure projects. Finally, the ongoing expansion of the chemical and pharmaceutical industries, which rely heavily on turbocompressors for various processing needs, is supporting the sustained growth of the market.
The growth in the turbocompressors market is driven by several factors, reflecting the evolving needs of various industries and the global push towards sustainability and efficiency. The global shift towards reducing carbon footprints and embracing cleaner energy sources has significantly boosted the demand for turbocompressors. These compressors are vital in applications that contribute to sustainability, such as in the production of green hydrogen, carbon capture and storage (CCS), and renewable energy projects, including wind and solar power generation. Rapid industrialization, especially in emerging economies, drives the need for compressed air and gas in various manufacturing processes.
Turbocompressors are essential in sectors like chemicals, petrochemicals, oil and gas, and manufacturing, where they support production efficiency and process optimization. As energy costs continue to rise, the demand for energy-efficient solutions becomes more pronounced. The rise of industrial automation and the adoption of Industry 4.0 principles are further contributing to the market expansion, with smart turbocompressors offering enhanced monitoring and control capabilities.
Infrastructure development, particularly in emerging economies, is also boosting demand for turbocompressors in water treatment, HVAC systems, and other critical infrastructure projects. Finally, the ongoing expansion of the chemical and pharmaceutical industries, which rely heavily on turbocompressors for various processing needs, is supporting the sustained growth of the market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Centrifugal Turbocompressors segment, which is expected to reach US$18.3 Billion by 2030 with a CAGR of a 5.9%. The Axial Turbocompressors segment is also set to grow at 7.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $4.2 Billion in 2023, and China, forecasted to grow at an impressive 8.4% CAGR to reach $6.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Turbocompressors Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Turbocompressors Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Turbocompressors Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as AB SKF, Atlas Copco AB, Baker Hughes Company, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 57 Featured):
- AB SKF
- Atlas Copco AB
- Baker Hughes Company
- Continental AG
- Elliott Group Ltd.
- ExxonMobil Corporation
- General Electric Company
- Howden Compressors Ltd.
- Ingersoll-Rand PLC
- Kawasaki Heavy Industries, Ltd.
- Kobe Steel Ltd.
- MAN Energy Solutions SE
- Mitsubishi Heavy Industries Ltd.
- Siemens AG
- Sulzer Ltd.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAFRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPEAUSTRALIAINDIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTAFRICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
ASIA-PACIFIC
Companies Mentioned
- AB SKF
- Atlas Copco AB
- Baker Hughes Company
- Continental AG
- Elliott Group Ltd.
- ExxonMobil Corporation
- General Electric Company
- Howden Compressors Ltd.
- Ingersoll-Rand PLC
- Kawasaki Heavy Industries, Ltd.
- Kobe Steel Ltd.
- MAN Energy Solutions SE
- Mitsubishi Heavy Industries Ltd.
- Siemens AG
- Sulzer Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 528 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 17.1 Billion |
| Forecasted Market Value ( USD | $ 26.3 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
