Gas Compressors Market Size, Analysis, Share & Forecast 2031
Gas Compressors Market Size, Analysis, Share & Forecast 2031
Segments - Gas Compressors Market by Type (Positive Displacement and Dynamic Displacement), End-user (Petrochemical & Chemical Industries, Oil & Gas, Power Sector, Industrial Gases, and Others), Application (Upstream, Midstream, and Downstream), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :EP-1166
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| 183 Pages
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Report Description
The global gas compressors market size was USD 12.25 Bn in 2022 and is likely to reach USD 24 Bn by 2031, expanding at a CAGR of 3.95% during 2023–2031. The growth of the market is attributed to the growing use of natural gas in the industrial and transportation sector and the subsequent need for transportation of natural over long distances.
A gas is compressed to be transported feasibly and safely to the desired location. Gas compressors are used to increase the static pressure of a gas by reducing its volume so that gas can be compressed easily for transportation and storage purposes. Dynamic and positive displacement gas compressors. The commonly used gas compressors include dynamic and positive displacement gas compressors.
The dynamic compressor includes a centrifugal and axial compressor that compresses the gas by rotating impellers or vanes. Positive displacement compressors consist of rotary and reciprocating variants that compress the gas by storing it in a closed space and increasing the pressure. These compressors are commonly used for gases, such as hydrogen, nitrogen, ethylene, argon, fluorine, and xenon. As a result, they find extensive application across various industries, including construction, oil & gas, mining, general manufacturing, petrochemicals, chemicals, and power generation.
Gas Compressors Market Dynamics
Drivers
Significant growth of the oil & gas industry across the globe is anticipated to drive the market. Growing industrialization and urbanization requires a substantial amount of energy supplies to support the growth. Globalization has created many remunerative prospects for the manufacturing sector. High acceptance of gas processors for transportation purposes is expected to propel the market in the coming years. Gas processors are used to transport gas in a compact and safe way.
Restraints
Fluctuating crude oil prices and the associated ripple effect on the prices of gas are likely to hinder the market. The prices of oil & gas fluctuate due to the supply-demand ratio, geopolitical crisis, and changes in regulatory frameworks in oil-producing nations.
Opportunities
Increasing usage of natural gas in the industrial and transportation sector and supportive government policies to promote the use of natural gas are expected to create multiple opportunities in the market. Natural gas is preferred, as it creates a low carbon footprint and is cost-effective. Favorable government policies and rising awareness about using natural gas as an energy source in various application are fueling the sales of gas compressors.
Scope of Gas Compressors Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Gas Compressors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2020–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Positive Displacement and Dynamic Displacement), End-user (Petrochemical & Chemical Industries, Oil & Gas, Power Sector, Industrial Gases, and Others), and Application (Upstream, Midstream, and Downstream) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Atlas Copco, Ariel Corporation, BAUER Compressors, Clean Energy Fuels, and Ingersoll Rand |
Gas Compressors Market Segment Insights
Based on type, the gas compressors market is bifurcated into dynamic displacement and positive displacement. The dynamic displacement segment is anticipated to expand at a substantial pace during the forecasted period owing to the ability of dynamic compressors to work at a consistent pressure by providing a substantial amount of momentum to air at high velocity. The airflow is restricted to reduce the velocity of air thereby causing the pressure to increase.
On the basis of end-user, the global market is segregated into petrochemical & chemical industries, oil & gas, power sector, industrial gases, and others. The oil & gas segment is projected to register a considerable CAGR during the forecast period due to rising oil & gas exploration and consumption activities worldwide. Rising industrialization and urbanization have increased oil & gas consumption substantially. This factor is fueling the segment in the coming years.
In terms of application, the gas compressors market is categorized as upstream, midstream, and downstream. The midstream segment is expected to register a robust growth rate during the forecast period owing to increasing use of compressor to liquify and transport natural gas from one location, to another.
In terms of region, the global gas compressors market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period owing to the increasing demand for gas due to growing industrialization. China is emerging as a manufacturing hub of the world. Consistent energy supplies are required to support the industrial growth in the region.
Segments
The gas compressors market has been segmented on the basis of
Types
- Positive Displacement
- Dynamic Displacement
End-user
- Petrochemical & chemical industries
- Oil & gas
- Power Sector
- Industrial Gases
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Atlas Copco
- BAUER Compressors
- Ariel Corporation
- Clean Energy Fuels
- Ingersoll Rand
Competitive Landscape
Major players operating in the global gas compressors market are Atlas Copco, Ingersoll Rand, Clean Energy Fuels, BAUER Compressors, and Ariel Corporation. These companies have adopted strategies such as acquisitions, collaboration, mergers, partnerships, product launches, and production expansion to expand their presence. For instance,
- In November 2022, Atlas Copco announced that it has completed the acquisition of Northeast Compressor, a service provider for air compressors in the industrial segment. Northeast compressors have earned expertise in providing maintenance services to various industries. Atlas Copco hopes that the acquisition is likely to enhance its customers base and technological expertise.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Gas Compressors Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Gas Compressors Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Gas Compressors Market - Supply Chain
4.5. Global Gas Compressors Market Forecast
4.5.1. Gas Compressors Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Gas Compressors Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Gas Compressors Market Absolute $ Opportunity
5. Global Gas Compressors Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Gas Compressors Market Size and Volume Forecast by Types
5.3.1. Positive Displacement
5.3.2. Dynamic Displacement
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Gas Compressors Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Gas Compressors Market Size and Volume Forecast by End Users
6.3.1. Petrochemical & chemical industries
6.3.2. Oil & gas
6.3.3. Power Sector
6.3.4. Industrial Gases
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Gas Compressors Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Gas Compressors Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Gas Compressors Demand Share Forecast, 2019-2026
8. North America Gas Compressors Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Gas Compressors Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Gas Compressors Market Size and Volume Forecast by Types
8.4.1. Positive Displacement
8.4.2. Dynamic Displacement
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Gas Compressors Market Size and Volume Forecast by End Users
8.7.1. Petrochemical & chemical industries
8.7.2. Oil & gas
8.7.3. Power Sector
8.7.4. Industrial Gases
8.7.5. Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Gas Compressors Demand Share Forecast, 2019-2026
9. Latin America Gas Compressors Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Gas Compressors Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Gas Compressors Market Size and Volume Forecast by Types
9.4.1. Positive Displacement
9.4.2. Dynamic Displacement
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Gas Compressors Market Size and Volume Forecast by End Users
9.7.1. Petrochemical & chemical industries
9.7.2. Oil & gas
9.7.3. Power Sector
9.7.4. Industrial Gases
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Gas Compressors Demand Share Forecast, 2019-2026
10. Europe Gas Compressors Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Gas Compressors Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Gas Compressors Market Size and Volume Forecast by Types
10.4.1. Positive Displacement
10.4.2. Dynamic Displacement
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Gas Compressors Market Size and Volume Forecast by End Users
10.7.1. Petrochemical & chemical industries
10.7.2. Oil & gas
10.7.3. Power Sector
10.7.4. Industrial Gases
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Gas Compressors Demand Share Forecast, 2019-2026
11. Asia Pacific Gas Compressors Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Gas Compressors Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Gas Compressors Market Size and Volume Forecast by Types
11.4.1. Positive Displacement
11.4.2. Dynamic Displacement
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Gas Compressors Market Size and Volume Forecast by End Users
11.7.1. Petrochemical & chemical industries
11.7.2. Oil & gas
11.7.3. Power Sector
11.7.4. Industrial Gases
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Gas Compressors Demand Share Forecast, 2019-2026
12. Middle East & Africa Gas Compressors Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Gas Compressors Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Gas Compressors Market Size and Volume Forecast by Types
12.4.1. Positive Displacement
12.4.2. Dynamic Displacement
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Gas Compressors Market Size and Volume Forecast by End Users
12.7.1. Petrochemical & chemical industries
12.7.2. Oil & gas
12.7.3. Power Sector
12.7.4. Industrial Gases
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Gas Compressors Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Gas Compressors Market: Market Share Analysis
13.2. Gas Compressors Distributors and Customers
13.3. Gas Compressors Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Atlas Copco
13.4.2. Ariel Corporation
13.4.3. BAUER Compressors
13.4.4. Clean Energy Fuels
13.4.5. Ingersoll Rand
Methodology
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