Dublin, June 15, 2022 (GLOBE NEWSWIRE) -- The "Turbocompressor Market by Type, Stage, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global turbocompressor market size was $15,748.7 million in 2020, and is expected to reach $29,356.4 million by 2030, with a CAGR of 6.3% from 2021 to 2030.
A turbocompressor is a dynamic type of compressor used for the compression and injection of gases. In these compressors, the required pressure rise takes place during the continuous conversion of angular momentum imparted to the refrigerant vapor by a high-speed impeller into static pressure. The unique design and reliability of turbocompressors makes them applicable in industries where large amounts of air need to be compressed. Metallurgical, chemical, and petrochemical plants and refineries are amongst the most common applications for turbo compression solutions.
The major driving factor for the growth of the turbocompressor market is the rise in trade of the liquefied natural gas (LNG) in countries such as Australia and the U.S., which is promoting more use of the cleaner source of energy for different industries, such as generating electricity, manufacturing and heating industry. This is leading to the rise in trade of the liquefied natural gas over different countries and turbocompressor are used for the LNG for maintaining the pressure ratios. In addition, various government regulations over the use of cleaner energy such as the Clean Energy Act prompt the use of cleaner energy for different industries. In addition, for the wastewater plant applications, the turbocompressor are used to provide more efficiency to remove pollutants and requires less maintenance, which drives the growth of turbocompressor market.
However, in countries such as Japan and South Korea, due to warmer weathers the temperature in certain places is high and use of liquefied natural gas in such places is restricted as the use of LNG in such weather could lead to explosion. In addition, screw compressors provide an advantage over turbocompressors, as screw compressors provide greater efficiency over the part load and provide more capacity control over the output range. Hence, making the screw compressors getting more preferred over the turbocompressor, which restraints the growth of the turbocompressor market.
However, the demand for passenger vehicles increases over the years. With the growing electric vehicles market, the fuel vehicles provide more features such as increase in fuel efficiency by more than 10%. In addition, the turbocompressor used for diesel engines reduces the NOx that causes environmental pollution, which is increases the adoption of the thermocompressor. Various companies manufacture their own turbocompressors considering the diesel engines applications. In addition, the rise in the automotive industry with the increase in government regulations build new opportunities for the turbocompressor market.
The turbocompressor market is segmented into type, stage, end user, and region. On the basis of type, the market is divided into centrifugal and axial. On the basis of stage, the market is divided into single stage and multi-stage. On the basis of end user, the market is egmented into oil & gas, power generation, chemical, water & wastewater, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The major players profiled in the turbocompressor market include Atlas Copco AB, Elliott Group, General Electric, Howden Group, Ingersoll Rand, Kawasaki Heavy Industries, Ltd., KOBE STEEL, LTD., MAN Energy Solutions, MITSUBISHI HEAVY INDUSTRIES, LTD. and Siemens. Major companies in the market have adopted agreement, product launch, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers in the turbocompressor market.
Key Benefits
- The report provides an extensive analysis of the current trends, future estimations, and dynamics of the turbocompressor market
- In-depth turbocompressor market analysis is conducted by estimations for the key segments between 2021 and 2030
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities
- The market forecast analysis from 2021 to 2030 is included in the report
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Impacting Factors
3.2.3. Top Winning Strategies
3.3. Porters Five Forces Analysis
3.3.1. Moderate Bargaining Power of Suppliers
3.3.2. High Bargaining Power of Buyers
3.3.3. Low Threat of Substitutes
3.3.4. High Competitive Rivalry
3.3.5. Low Threat of New Entrants
3.4. Market Players Positioning
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Rising Applications of Turbocompressor in Wastewater Treatment Plants Globally
3.5.1.2. Increasing Global Lng Trade
3.5.1.3. Increasing Industrialization
3.5.1.4. Increasing Demand for Energy
3.5.2. Restraints
3.5.2.1. Rotary Screw Compressors Substituting
3.5.2.2. Slowing Lng Trade in Japan and South Korea
3.5.3. Opportunities
3.5.3.1. Evolving Co2 Transport Network
3.5.3.2. Technological Developments in Turbocompressor
Chapter 4 Global Turbocompressor Market, by Type
4.1. Overview
4.1.1. Market Size and Forecast
4.2. Centrifugal Compressors
4.2.1. Key Market Trends
4.2.2. Key Drivers and Opportunities
4.2.3. Market Size and Forecast
4.3. Axial Compressors
4.3.1. Key Market Trends
4.3.2. Key Drivers and Opportunities
4.3.3. Market Size and Forecast
Chapter 5 Global Turbocompressor Market, by Stage
5.1. Overview
5.1.1. Market Size and Forecast
5.2. Single Stage
5.2.1. Key Market Trends
5.2.2. Key Drivers and Opportunities
5.2.3. Market Size and Forecast
5.3. Multi-Stage
5.3.1. Key Market Trends
5.3.2. Key Drivers and Opportunities
5.3.3. Market Size and Forecast
Chapter 6 Global Turbocompressor Market, End-User Industry
6.1. Overview
6.1.1. Market Size and Forecast
6.2. Oil & Gas
6.2.1. Key Market Trends
6.2.2. Key Drivers and Opportunities
6.2.3. Market Size and Forecast
6.3. Power Generation
6.3.1. Key Market Trends
6.3.2. Key Drivers and Opportunities
6.3.3. Market Size and Forecast
6.4. Chemical
6.4.1. Key Market Trends
6.4.2. Key Drivers and Opportunities
6.4.3. Market Size and Forecast
6.5. Water and Wastewater
6.5.1. Key Market Trends
6.5.2. Key Drivers and Opportunities
6.5.3. Market Size and Forecast
6.6. Others
6.6.1. Key Market Trends
6.6.2. Key Drivers and Opportunities
6.6.3. Market Size and Forecast
Chapter 7 Global Turbocompressor Market, by Geography
Chapter 8 Company Profiles
8.1. Atlas Copco Ab
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Key Strategies & Developments
8.2. Elliot Group Ltd
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Key Strategies & Developments
8.3. GE Oil & Gas
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Key Strategies & Developments
8.4. Howden Group Ltd
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Key Strategies & Developments
8.5. Ingersoll Rand plc
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Key Strategies & Developments
8.6. Kawasaki Heavy Industries Ltd
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Key Strategies & Developments
8.7. Kobe Steel Ltd
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Key Strategies & Developments
8.8. Man Diesel & Turbo
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Key Strategies & Developments
8.9. Mitsubishi Heavy Industries Ltd
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Key Strategies & Developments
8.10. Siemens AG
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Key Strategies & Developments
For more information about this report visit https://www.researchandmarkets.com/r/n1x6p7
Attachment
