Press release
Centrifugal Compressors Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029
Centrifugal Compressors Market is expected to grow at a high CAGR of 4.23% during the forecasting period (2022-2029).
Centrifugal compressors are radial compressors that convert kinetic energy to potential energy/static pressure. These compressors are available in axial and radial split units. The centrifugal compressors run at speeds between 20,000 and 30,000 RPM.
These compressors are driven by either engine or a turbine. Centrifugal compressors are used for plant air compression and air separation industries. These compressors are useful in small gas turbines.
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Market Dynamics
The market is driven by the rising demand for centrifugal compressors in the petrochemical industry due to their advantages such as smooth operation, large tolerance of process fluctuations, and higher reliability compared to the other types of compressors.
The centrifugal compressors are easily automated for remote operations, easily skid-mounted, and self-contained. The centrifugal compressors are an ideal choice compared to the reciprocating compressors due to the lower initial costs and maintenance costs of centrifugal compressors.
There is an increase in the launch of centrifugal compressors.
For instance, in January 2020, Ingersoll Rand had launched the new generation of MSG Turbo-Air 2000 Centrifugal Compressor for the Indian market. MSG TURBO-AIR 2000 has the capability to cater flow capacity from 505 CFM to 1700 CFM with a pressure range from 3.5 Barg to 10 Barg. The new compressor ensures zero oil contamination and is powered by Ingersoll Rand's technology that offers high reliability, better efficiencies, and ease of operations.
In October 2018, ATLAS Co launched the ZH 1000-3150 oil-free centrifugal air compressor is designed to meet the needs of the air separation industry for a larger centrifugal air compressor delivered in a standard package. The ZH 1000-3150 oil-free centrifugal air compressor provides the optimum combination of high flow and low energy consumption. It is an all-in-one oil-free air compressor with all the elements including the internal piping, coolers, motor, lubrication, inlet guide vanes, and control system supplied in a standard package in a built-to-last design. It is easy to install.
Moreover, its commissioning is quick. It is comprised the optional features that provide customization to a specific production environment. The ZH 1000-3150 allows a turndown of over 25% before blow-off, maximizing energy savings and minimizing operating costs.
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Market Segmentation
By Product Type
• Single Stage Centrifugal Compressors
• Multi-stage Centrifugal Compressors
By End-Users
• Oil and Gas
• Power Sector
• Petrochemical and Chemical Industries
• Others
Competitive Analysis
The global centrifugal compressors market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Atlas Copco, Siemens, Elliott Group, Ingersoll Rand, Hitachi Ltd., MAN Energy Solutions, GE Oil & Gas, and Air Products and Chemicals Inc. are the leading market players with significant market shares.
In November 2014, GE Oil & Gas received the award of a contract by Shandong Electric Power Construction Corp (SEPCO) to manufacture and assist with the commissioning and start-up of 12 high-efficiency gas compression trains, each consisting of an aero-derivative gas turbine and a pipeline centrifugal compressor, for the Master Gas System Expansion Project in Saudi Arabia.
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