HOME › Press Releases › Turbocompressors Market worth 15.81 Billion USD by 2021
Turbocompressors Market worth 15.81 Billion USD by 2021
The report "Turbocompressor Market by Type (Centrifugal & Axial), Application (Oil & Gas, Chemical, and Power Generation), Stage (Single & Multi), Output Pressure (0–20, 21–100, Above 100 Bar), and by Region - Global Trends & Forecasts to 2021", The turbocompressors market is projected to grow from an estimated USD 12.15 Billion in 2016 to USD 15.81 Billion by 2021, at a CAGR of 5.4%. Increasing LNG trade between nations, the growing demand for energy, and investments in sectors other than oil & gas are expected to drive the market for turbocompressors.
Browse 66 market data Tables and 51 Figures spread through 144 Pages and in-depth TOC on "Turbocompressor Market by Type (Centrifugal & Axial), Application (Oil & Gas, Chemical, and Power Generation), Stage (Single & Multi), Output Pressure (0–20, 21–100, Above 100 Bar), and by Region - Global Trends & Forecasts to 2021"
Early buyers will receive 10% customization on reports.
Oil & gas sector to dominate the turbocompressors market during the forecast period
The turbocompressors market has been segmented according to application into oil & gas, power generation, chemical, and others. The oil & gas sector accounted for approximately 50% of the market share in 2015. The growing number of LNG projects will likely increase the demand for turbocompressors. This is expected to drive the market for turbocompressors in the oil & gas sector.
Axial turbocompressors to hold the largest share of the turbocompressors market, by type, during the forecast period
The turbocompressors market has been segmented on the basis of type into axial and centrifugal turbocompressors. Centrifugal turbocompressors are estimated to dominate the market. Axial turbocompressors are used as compressors in gas turbines and in the steel and chemical industries. These turbocompressors are primarily used for applications that require a high intake volume of flow, and are more efficient than centrifugal turbocompressors. Most axial turbocompressors produce pressures higher than 100 psi, at intake volumes between 23,500 acfm to 588,500 acfm. The market for axial turbocompressors is expected to grow at the highest CAGR during the forecast period.
North American turbocompressors market to witness the highest growth during the forecast period
The report covers six regions, namely, North America, Asia-Pacific, Europe, the Middle East, South America, and Africa. The turbocompressors market in North America is expected to witness the highest growth from 2016 to 2021, owing to the growing manufacturing sector in the region. The increase in the LNG trade between nations would drive the North American turbocompressors market, as turbocompressors are used for gas transportation and storage.
The report also provides an in-depth analysis of the competitive landscape, along with profiles of leading market players such as Atlas Copco AG (Sweden), GE Oil & Gas (U.K.), Siemens AG (Germany), Ingersoll Rand (Ireland), Hitachi Ltd. (Japan), and Mitsubishi Heavy Industries, Ltd. (Japan).
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India