Luton, Bedfordshire, United Kingdom, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the gas compressors market. The global gas compressors market is expected to grow at 3% CAGR from 2022 to 2029. It is expected to reach above USD 8.42 billion by 2029 from USD 6.45 billion in 2020.
Since the COVID-19 pandemic's end date is unclear, suppliers and producers in the gas compressor market are acting professionally to deal with the situation. They are working harder to maintain the operations of crucial industries including oil & gas production, healthcare, and electricity generation. Additionally, stakeholders are increasingly placing a high value on worker and customer safety.
A gas compressor refers to a mechanical device that increases the static pressure of a gas by reducing its volume. Some of the commonly used gas compressors include positive displacement and dynamic gas compressors.
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Asia-Pacific is one of the fastest developing regions in the world. The region, which is home to some of the world's largest economies, including China, Japan, and India, is experiencing tremendous growth across a range of sectors, including oil and gas, manufacturing, and electricity generation.
One of the primary applications for gas compressors is in the oil and gas industry, where countries like China and India are among the top players in the world. Since these compressors are used in various stages of the oil and gas supply chain, such as natural gas processing, natural gas transportation, marine LNG, and refining, the demand for gas compressors is likely to grow with the growth of the oil and gas market in the region.
Industry Insights:
January 2022, Burckhardt Compression was awarded a supply contract by TECNIMONT SpA and Tecnimont Private Ltd to provide solutions to India Oil Corporation’s polypropylene plant in Bihar, India. The agreement will see Burckhardt supplying the carrier gas compressor and nitrogen gas compressor packages for the plant’s refining complex.
April 2021, Siemens Energy AG supplied 20 centrifugal compression systems for one of Saudi Aramco’s gas storage projects. The Hawiyah UnayzahGas Reservoir Storage facility is located 260 km east of Riyadh. The scope of the contract includes the supply of 20 compressor trains which will strengthen the company’s market position.
As a part of Gas Compressors market segmentation, our study exhibits a market analysis based on type, Market application and Historic Data:
| Attributes | Details (Current Scenario) |
| Base-Year | 2020-2021 |
| Historic Data | 2019-2020 |
| Forecast Period | 2022-2029 |
| Regions Covered |
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| By Type/function |
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| By Application |
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| CAGR (XX%) | 3 % (Current Market Analysis) |
| Customization Available | Yes, the report can be customized as per your need. (Free 15% Customization) |
| Delivery Format | PDF, and Excel through Email |
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Reasons to buy the Gas Compressors report:
- It provides a forward-looking perspective on different factors driving or restraining market growth
- provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Finally, Gas Compressors Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principal locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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