Marine Compressor Market Size, Trends, In-depth Analysis, Research Report Forecast up to 2028: Kaeser Compressors, Inc. and Ingersoll Rand, Inc. are key players.

Marine Compressor Market is expected to grow at a CAGR of 2.61% to reach a market size worth US$3.479 billion by 2028.

The key factor contributing to the global marine compressors market is the growing naval fleets in various countries across the globe. In addition, technological innovations, product launches, and the high-performance benefits of the marine compressor are also driving market growth. However, the installation and maintenance costs of marine compressors and increased shipping cargo are anticipated to hinder the global market growth during the forecast period. The installation cost of the marine compressor is exceptionally high. Furthermore, marine compressors also require routine maintenance to ensure smooth operation, which raises costs.

The growing marine fleets will accelerate the marine compressors demand over the forecast period.

A marine compressor is an auxiliary device deployed in a ship that creates compressed air and fluid to boost the air pressure in the vessel. Such equipment is applied in many applications, from cleaning filters and powering the auxiliary and primary engines to mechanical operation and repair operations. The increase in the naval and marine fleet will accelerate marine compressor demand in the next few years. According to World Merchant Fleet Data, the number of ships was 48,459 in 2015 and will rise to 52,961 by 2020. Additionally, technical advancements in the marine compressor industry will further reduce the maintenance and operation costs of compressors, supporting the growth of marine compressors.

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The global marine compressor market is segmented into product type, end-user, and geography.

Based on the type of marine compressor, the market is categorized into Reciprocating type, Rotatory screw type, Rotatory Vane type, and Others. Among all these types of marine compressors, the reciprocator segment is expected to hold a significant market share. This is because the high energy efficiency of the double-acting reciprocating type of marine compressor is driving the growth of this segment.

Based on the end user, the classification has been done into Yachts, Merchant ships, Navy Vessels, and others. Over the forecast period, the merchant ships segment is expected to hold a significant market share. A wide range of applications of merchant ships, such as transporting cargo, materials, and passengers, will drive the growth expansion of this segment. Marine compressors will experience rapid growth during the forecast period due to the multiple uses of merchant ships, resulting in the need for more ships to meet increasing demands.

The marine compressor market is divided geographically into North America, South America, the Middle East and Africa, Europe, and Asia Pacific. Out of all the geographical regions, the Asia Pacific region is expected to have a significant market share in the global marine compressor market. Massive expansion in the maritime sector in this region is one of the primary factors driving the market growth in this region. For instance, regarding the fleet value, Japan is the top shipping nation globally. In addition, the availability of inexpensive labor and raw materials has led to investments from major international players and accelerated the demand for marine compressors in the Asia Pacific region.

The major global marine compressor market players are Atlas Copco, Teknotherm Marine, Ingersoll Rand, Inc., Kaeser Compressors, Inc., DHV Marine GmbH, Tanabe, Burckhardt Compression AG, and Hi-Sea Marine.

This Marine Compressor Market has been analyzed into the following segments:

• By Product Type

o Reciprocating Type
o Rotatory Screw Type
o Rotary Vane Type
o Others

• By End User

o Yacht
o Merchant ship
o Navy Vessel
o Others

• By Geography

o Americas

• USA
• Others

o Europe, the Middle East and Africa

• Germany
• France
• United Kingdom
• Others

o Asia Pacific

• China
• Japan
• South Korea
• Others

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