Gas Compressor Market - Growth, Trends, and Forecast (Outlook to 2028)

The global gas compressor market is growing due to the inherent advantage of gas compressors, rapid electricity demand, and reduced consumption of coal from emerging markets will increase the demand for natural gas in power generation. In addition, the widespread adoption of gas compressors for the processing and transportation of energy resources, such as natural gas hydrogen over long distances, is driving the growth of the gas compressor market.

Drivers:

• Favorable trends and government policies associated with decarbonization
• Increasing gas production activities across the onshore and offshore
• The increasing number of hydrogen refueling stations

Natural gas production is expected to remain high over the next decade, driven by increasingly cost-effective developments, particularly within associated shale gas plays. Further, the increase in gas production is supported by the strong LNG exports and rising domestic demand from the petrochemical and power sectors.

Growing export capacity through both pipelines and LNG terminals is expected to propel total natural gas net exports throughout the forecast period. New LNG liquefaction terminals are likely to supply the majority of exports.

A gas compressor is a mechanical device that increases static pressure by reducing its volume. These compressors are commonly used for gases, such as ethylene, fluorine, argon, hydrogen, nitrogen, xenon, and silane. As a result, they find extensive applications across various industries, including general manufacturing, construction, oil & gas, mining, chemicals and petrochemicals, and power generation.

The Industrial Process Gas Compressor is widely used to compress process gases in oil & gas, chemical processing, and other end use industries. The healthy growth of these industries is expected to drive the demand for the Industrial Process Gas Compressor market.

With an increasing number of industrial accidents due to overpressure of gases, the requirement for better safety in industrial operations is rising, subsequently contributing to the demand for Industrial Process Gas Compressors. As a result, the Industrial Process Gas Compressor has better reliability and safety than other compressors.

Increasing concern towards industrial safety is estimated to boost the growth of the gas compressor market. Furthermore, in recent years, the energy consumption in the Oil & gas industry has been increasing day by day. Therefore, oil and gas producers are demanding energy efficient gas compressors to reduce the emission from the plant.

Gas compression is required throughout all stages of the value chain in oil and gas, including production at the wellhead, gathering, treating, processing, and transportation and storage.

The main advantages of gas compressors include -

• Move the gas safely and fastly to the end user
• Help the gas move up
• Filtration and separation of the gas

The compression technologies are indispensable for many critical processes in the gas, power, and oil industries. In some cases, good production sometimes entirely depends on gas compression. It is used to get the commodity out and into the processing and storage facilities. As the gas is transported, it naturally loses pressure because of friction and distance. Gas compression helps the gas to move smoothly through the pipeline network.

The ecosystem of the global industrial air compressor market starts with the manufacture of basic components, such as valves, bearings, motor, engine, plates, inlet fins, filters, regulator, storage tank, piston, controllers, among others. Then, the original equipment manufacturer (OEM) assembles the manufactured parts. So OEM's services such as maintenance, provide sale of general industrial equipment and provide continuous monitoring and support.

The gas compressors also include high pressure air and nitrogen generation/booster systems for rig tensioning & motion compensation, BOP accumulator charging, nitrogen blanketing, coiled tubing, instrument air, and seismic applications. Customized options include electric or diesel drive, hazardous or rig-safe, containerized systems.

The application of gas compressors in the midstream sector includes gas processing, gas pipeline transmission, and gas storage. Transport of gas in pipelines is an effective way of transporting energy over large distances. By increasing the gas pressure, compressors are used to help liquefy and transport natural gas from one location or process to another.

Some of the Supportive Policies:

• Aid Programs for energy efficiency actions in SMEs and large companies in the industrial sector
• Increasing energy safety programs in storing and transportation of natural gas

Types of Industrial Gas Compressor:

• Based on mode of Operation:
• Positive displacement
• Dynamic displacement
• Lithium based battery
• Based on air compression stages: single-stage, multi-stage, 2-stage
• Based on cooling medium: oil-cooled, water-cooled, or air-cooled
• Based on the type of drive: belt, chain, turbine, motor, engine, direct-coupling, or gear
• Based on lubrication: oil-free, splash, or forced lubrication
• Based on pressure: low, high, or medium

Gas Compressor Market Opportunities:

• The growing popularity of green hydrogen
• The rise in manufacturing activities in APAC and LAMEA regions
• Growing market from dry cleaning, food & beverage, woodworking

Gas Compressor Market Challengeš:

• High installation and maintenance cost
• Stringent government regulations
• Fluctuating raw material prices

Gas Compressor Market Restraints:

• The growing share of renewable energy and electric vehicles
• High competition from the air and oil-free compressors

Some of the Recent Developments:

• Qatar has planned to boost its LNG capacity expansion from 7 million metric tons per annum to 110 million metric tons per annum. The project is expected to start in phases from 2025
• In the US, China, and Europe, there has been a significant reduction in energy production from coal, which is being gradually replaced by energy production from gas.

The application of gas compressors in the midstream sector includes gas processing, gas pipeline transmission, and gas storage. Transport of gas in pipelines is an effective way of transporting energy over large distances. By increasing the gas pressure, compressors are used to help liquefy and transport natural gas from one location or process to another.

The midstream sector includes gas processing, gas pipeline transmission, and gas storage. It is expected to dominate the market during the forecast period.

The increasing demand for electricity in emerging markets, such as India, China, Brazil, and Mexico, is expected to drive the demand for natural gas in the power generation sector. This factor is expected to provide a significant opportunity for the manufacturers of gas compressors in the near future.

North America is expected to dominate the market, with most demand generated from the United States and Canada.

The study presents a detailed analysis of various factors that affect Global Gas Compressor Market revenue. The study also comprehensively analyses the gas compressor market by segmenting it based on geography (Asia-Pacific, North America, Europe, ROW), based on an operation (Oil-Free Screw Gas Compressors, Dynamic gas compressor, battery Gas Compressor).

The publisher's Global Industrial Air Compressor Market report provides insights into the current global and regional market demand scenario and its outlook.

The report also addresses present and future market opportunities, trends, developments in the Global Gas Compressor Market, critical commercial developments, regions, and segments poised for the fastest-growing, competitive landscape.

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