Reciprocating Compressors Market 2020 | Worldwide Overview, Top Manufacturers, COVID – 19 Impact Analysis, Scope, Stake, Progress, Demand and Forecast by 2025
The Global Reciprocating Compressors Market is projected to be valued at USD 6,497 Million by 2025, with 5.92% CAGR during the forecast period, 2019–2025. A reciprocating compressor is a positive displacement compressor, which sucks gas into a chamber and then compresses it by decreasing the area of the chamber. The area is reduced using a piston to compress air, which makes a reciprocating motion. There is a central crankshaft, which is connected to the shaft of an electric motor and transfers its rotary motion to the piston. It is used in various application, including manufacturing, natural gas processing and delivery, chemical plants, refrigeration plants, and oil refineries.
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The key players operating in the global reciprocating compressors market are Ariel Corporation (US), Siemens (Germany), General Electric (US), Atlas Copco (Sweden), Ingersoll-Rand plc (Ireland), Kobe Steel, Ltd. (Japan), Burckhardt Compression AG (Switzerland), Hitachi Industrial Products, Ltd. (Japan), Howden Group (UK), Gardner Denver, Inc. (US), Sundyne (US), Shenyang Blower Works Group Corporation (China), Kaeser Kompressoren (Germany), mayekawa mfg. Co., Ltd (US), and Corken, Inc. (US).
Impact of the Covid-19 Outbreak on the Reciprocating Compressor Market at: https://www.marketresearchfuture.com/report/covid-19-impact-reciprocating-compressor-market
The global reciprocating compressors market has been segmented based on type, component, end-use industry, and region.
Based on type, the global market is segmented into portable, and stationary. The portable segment is expected to dominate the global market owing to the increasing trend of oil & gas exploration and mining, which drives the demand for portable reciprocating compressors in the global market during the forecast period.
Based on component, the global market is segmented as crankshaft, piston, bearings, and others. The bearings segment is expected to grow with the highest CAGR during the forecast period as it is used in various range of industries and entitled for smaller durability of operational life.
Based on end-use industry, the global market is segmented into oil & gas, manufacturing, food & beverage, semiconductor & electronics, mining, and others. The manufacturing segment is expected to hold the largest market share during the forecast period.
The global reciprocating compressors market has been segmented into five regions, namely Asia-Pacific, Middle East & Africa, Europe, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Asia-Pacific holds the largest share of the global reciprocating compressors market due to increasing industrialization and rising investment in the manufacturing sector in Asia-Pacific. China holds the highest market share in Asia-Pacific owing to increasing focus in manufacturing sector. For instance, according to world investment report 2018, China recorded an inflow of foreign direct investment worth USD 136 billion, which signifies increasing investments in the manufacturing and construction sector during the forecast period.
The reciprocating compressors market in Europe is expected to be dominated by Germany owing to increasing focus on achieving more contracts and agreement for various industries. For instance, in June 2018, Burckhardt Compression AG (Switzerland) had received a turnkey contract for revamping and modernization hyper/secondary compressors at a low-density polyethylene plant (LDPE).
The reciprocating compressors market within the Middle East & Africa is dominated by Saudi Arabia owing to increasing oil & gas exploration projects. For instance, in December 2017, Saudi Aramco, a Saudi Arabian Oil Company, awarded a contract worth USD 175 million to Baker Hughes, a GE Company, for leveraging the gas resources and increasing gas production to its double production capacity.
The reciprocating compressors market in South America is dominated by Brazil owing to increasing oil reserves and production capacity. According to the BP Statistical Review of World Energy 2019 report, in 2017, oil reserves were 12.8 thousand million barrels, which increased to 13.4 thousand million barrels in 2018. Hence, increasing oil reserve capacity drives the demand for reciprocating compressor in brazil during the forecast period.
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