Press release
Reciprocating Compressor Market to Cross US$ 8.1 Bn at a CAGR of 4.9% by 2031
The reciprocating compressor market is expected to witness substantial growth during the forecast period, owing to the rising demand for these compressors in the oil & gas industry. These compressors are extensively used in upstream, midstream, and downstream applications, including gas gathering, gas processing, and gas transmission.
Market Size and Growth:
The global reciprocating compressor market is projected to grow at a CAGR of 4.9% during the forecast period. The market was valued at US$ 5.3 Bn in 2022 and is expected to reach US$ 8.1 Bn by 2031.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=75771&utm_source=OpenPR_Sudha&utm_campaign=OpenPR
Market Segmentation:
By Service Type: The market is segmented into new equipment sales, maintenance services, and aftermarket services.
By Sourcing Type: The market is segmented into OEM and aftermarket.
By Application: The market is segmented into gas compression, air compression, and others.
By Industry Vertical: The market is segmented into oil & gas, petrochemical, chemical, power generation, and others.
By Region: The market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Analysis:
North America: The region is expected to dominate the market during the forecast period, driven by the presence of a well-established oil & gas industry and increasing investments in infrastructure development.
Europe: The market in Europe is expected to witness significant growth, owing to the growing demand for reciprocating compressors in the chemical and petrochemical industries.
Asia Pacific: The region is expected to emerge as a key market for reciprocating compressors, driven by rapid industrialization and urbanization in countries such as China and India.
Market Drivers and Challenges:
Drivers: The increasing demand for energy-efficient compressors, growing investments in the oil & gas sector, and expanding industrial infrastructure are driving the growth of the market.
Challenges: However, factors such as volatility in raw material prices and stringent regulations regarding emissions are expected to hinder the market growth to some extent.
Market Trends:
The market is witnessing a trend toward the development of compact and lightweight reciprocating compressors to enhance efficiency and reduce maintenance costs.
Manufacturers are focusing on integrating advanced technologies such as IoT and artificial intelligence to improve the performance and reliability of reciprocating compressors.
Competitive Landscape:
The global reciprocating compressor market is highly competitive, with several players competing based on product quality, price, and technological innovation. Some of the key players in the market include Ariel Corporation, Atlas Copco, Burckhardt Compression AG, Gardner Denver Holdings, Inc., GE Company, Howden Group Ltd., IHI Corporation, Ltd., Mayekawa Mfg. Co., LTD, Mitsui E&S Holdings Co., Ltd., and Siemens AG.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.transparencymarketresearch.com/checkout.php?rep_id=75771<ype=S&utm_source=OpenPR_Sudha&utm_campaign=OpenPR
Future Outlook:
The future of the reciprocating compressor market looks promising, with increasing investments in infrastructure development and the growing demand for energy-efficient compressors driving the market growth. However, manufacturers need to focus on developing innovative solutions to address the challenges posed by volatile raw material prices and stringent regulations.
Key Market Study Points:
Market size and growth rate of the reciprocating compressor market from 2023 to 2031.
Key factors driving the growth of the market.
Challenges faced by market players and strategies adopted to overcome them.
Regional analysis of the market, including the growth prospects of different segments.
Competitive landscape of the market, including the market share of key players and their strategic initiatives.
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก -
Sewage Submersible Pump Market -https://www.prnewswire.com/news-releases/sewage-submersible-pump-market-to-gain-value-of-usd-16-8-billion-by-2031--states-tmr-review-301667310.html
Street Sweeper Market - https://www.prnewswire.com/news-releases/rising-awareness-about-cleanliness-and-hygiene-across-public-places-to-sow-the-seeds-of-growth-across-the-forecast-period-of-2020-2030-tmr-301248244.html
๐๐๐จ๐ฎ๐ญ ๐๐ฌ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
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