Turbocompressor Market Outlook and Future Estimation by 2023 - Prominent Industry Players Profiled Atlas Copco AB, Elliot Group Ltd, GE Oil & Gas, Howden Group Ltd., Ingersoll Rand Plc, Kawasaki Heavy Industries

Global Turbocompressor Market size was estimated to be $11,703 million in 2015 and is expected to reach $18,424 million by 2022 growing at a CAGR of 6.5%, according to a new report published by Allied Market Research. Oil & gas segment is expected to dominate the end-user sector in the global turbocompressor market from 2015 to 2022. Asia-Pacific region dominated the market contributing to 37.0% of the global turbocompressor market share in 2015.

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Turbocompressor is turbomachines that concentrate a compressible gas with the help of a dynamic principle. In turbocompressor, the gas continuously enters the rotating impeller through which the mechanical shaft power is distributed to the fluid with the help of the blades that results in a significant pressure and temperature increase. The remaining kinetic flow energy is then mostly converted into pressure in the diffuser. The compressed gas is then either collected in a volute or transferred to a second compressor stage with the help of a return channel. Turbocompressor are highly used in dirty and corrosive applications such as petrochemical plants, refineries, natural gas processing, coal gasification & power stations due to their longer life, low maintenance, and continuous service.

The global turbocompressor market is segmented based on type, stages, end-user industries, and geography. By type, the turbocompressor market is segmented into centrifugal compressors and axial compressors. Centrifugal compressor was the most dominant type accounting for 80.7% of the overall market in 2015. The centrifugal compressors market is projected to grow at a CAGR of 5.5% during the forecast period. Centrifugal compressors have high adoption in gas turbines and auxiliary power units. These compressors are also used in pipeline compressors of natural gas, which help move the gas from the production site to the end consumer.

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This report provides a comprehensive analysis of

-Top impacting Growth Factors
-Competitive Analysis of Leading Market Players
-Current and Future Market Trends
-Market Segmentation
-Revenue Estimation by 2022

Based on stage, the global turbocompressor market is classified into single-stage turbocompressor and multi-stage turbocompressor. Single-stage compressors dominated the market in 2015 and is estimated to grow at a CAGR of 5.9% during the forecast period 2016-2022. Single stage turbocompressor are adopted in a wide range of end-user industries owing to their higher efficiencies, ease of maintenance, and smooth operation that ensures reliable performance.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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