ID: MRFR/E&P/5147-HCR | 100 Pages | Author: Priya Nagrale | May 2023
Turbocompressor Market is expected to be valued at USD 29356.4 Million, with a CAGR of 6.3% Forecast by 2030
Turbocompressor Market is projected to be worth USD 29356.4 Million, registering a CAGR of 6.3% during the forecast period (2022 - 2030).
Over the next few years, the global turbocompressor market is expected to rise significantly. Turbocompressor has uses in a variety of industries, including automotive, oil & gas, power, and others. As a result, demand for turbocompressors is expected to rise in the future years as the world's industrialization accelerates. Government support for fulfilling the increased demand for electricity generation is expected to propel the market higher. Furthermore, the increasing velocity of natural gas trading is likely to catalyze market expansion in the not-too-distant future.
The solid value maintained by the automotive sector is expected to have a beneficial impact on the turbocompressor market's expansion. Turbocompressors are widely employed in automobiles for uses such as heating, ventilation, and air conditioning. In the future years, the rise of the automotive sector is expected to drive the turbocompressor market. Over the next few years, the widespread use of turbocompressors in refineries and petrochemical plants is expected to increase demand. Rapid industrialization, the development of new technologies, increased demand across end-user sectors, and other factors are expected to have a positive impact on market growth
The support extended by governments for meeting the rising need of power generation is prognosticated to catapult the market on an upward trajectory. Furthermore, the increasing momentum of natural gas trading is another major factor expected to catalyze the market expansion in the foreseeable future.
The strong value maintained by the automotive sector is anticipated to have a positive influence on the proliferation of the turbocompressor market. Turbocompressors are extensively used in automobiles for heating, ventilation, and air-conditioning applications. The growth of the automotive sector is poised to drive the expansion of the turbocompressor market in the upcoming years.
The large-scale usage of turbocompressors in refineries and petrochemical plants is projected to intensify the demand over the next few years. Other factors estimated to have a favorable impact on the growth of the market include rapid industrialization, development of advanced technologies, rising demand across end-user industries, etc. Nevertheless, stringent regulations and availability of substitute technologies remain impediments to market growth.
MRFR’s report offers a detailed assessment of the market landscape of turbocompressor. It also covers a discussion on past trends, latest developments, and revenue projection. The study finds that turbocompressor finds application in chemical, oil & gas, power generation, offshore, and others. The discussion covers centrifugal and axial types of turbocompressors. A revenue analysis of both single stage and multi stage is present in the report. Furthermore, the scope of the report spans across Europe, North America, Asia Pacific, and the Rest of the World.
Some of the key players operating in the turbocompressor market are Atlas Copco AG, Sulzer Ltd., Kobe Steel Ltd., GE Oil & Gas, Man Diesel & Turbo SE, Siemens AG, Kawasaki Heavy Industries, Ltd., Ingersoll Rand, Howden Group Ltd, Hitachi Ltd., Mitsubishi Heavy Industries, Ltd., SKF, Elliott Group, Rotating Machinery Services, Inc., Sundyne Corporation, Sullivan-Palatek, Inc., Gardner Denver, Inc., and Bauer Compressors, Inc.
MRFR leverages its cutting-edge analytical tools for a qualitative and quantitative assessment of key market elements such as historical data, consumer behavior pattern, etc. The credible sources used as points of references for primary and secondary research assures the reliability of the research findings. Top-down and bottom-up approaches employed corroborate the accuracy of the values derived from the curated data. Furthermore, a multi-layer verification process affirms the premium quality of the information available in our reports.
|Market Size||2030: USD 29356.4 Million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Report Coverage||Application, Type, Stage, Region|
|Segments Covered||Application, Type, Stage, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Atlas Copco AG, Sulzer Ltd., Kobe Steel Ltd., GE Oil & Gas, Man Diesel & Turbo SE, Siemens AG, Kawasaki Heavy Industries, Ltd., Ingersoll Rand, Howden Group Ltd, Hitachi Ltd., Mitsubishi Heavy Industries, Ltd., SKF, Elliott Group, Rotating Machinery Services, Inc., Sundyne Corporation, Sullivan-Palatek, Inc., Gardner Denver, Inc., and Bauer Compressors, Inc.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||rapid industrialization development of advanced technologies rising demand across end-user industries|
The turbocompressor market is supposed to capitalize on the growing demand for power generation.
The availability of alternate technologies can check the augmentation of the turbocompressor market.
Axial and centrifugal are the type-based segments of the turbocompressor market.
The segments of the turbocompressor market, by stage, are single stage and multi stage.
The players expected to expand market are Atlas Copco AG, Sulzer Ltd., GE Oil & Gas, Kobe Steel Ltd., Man Diesel & Turbo SE, Kawasaki Heavy Industries, Ltd., Siemens AG, Ingersoll Rand, Hitachi Ltd., Howden Group Ltd, Mitsubishi Heavy Industries, Ltd., Rotating Machinery Services, Inc., SKF, Elliott Group, Sundyne Corporation, Gardner Denver, Inc., Sullivan-Palatek, Inc., and Bauer Compressors, Inc.
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