Reciprocating Compressors Market: Fraudulent Imitation of Compressors Restrains Market Growth
According to a research report published by Transparency Market Research, the China reciprocating compressors market is expected to be worth US$1,178.9 mn by 2022 rising from US$771.1 mn in 2014. During the forecasting horizon between 2015 and 2022, the global market is expected to expand at a CAGR of 5.3%. The increasing foreign direct investment (FDI), booming automotive sector, and growing industrialization are all expected to propel the China reciprocating compressors market in the near future.
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Strategic Pricing Wins Industrial Process Gas Reciprocating Compressors Bigger Share in the Market
The China reciprocating compressors market, on the basis of type, has been segmented into industrial process gas reciprocating compressors, labyrinth piston compressors, liquefied natural gas (LNG), reciprocating compressors, oil-free reciprocating compressors, and hyper compressors. Of these, the industrial process gas reciprocating compressors segment is anticipated to lead the overall market over the forecast period. This segment is expected to reach US$351.3 mn by 2022.
The industrial process gas reciprocating compressors segment is expected to benefit from competitive pricing, enhanced efficiency, marketing to specific segments with integrated solutions, and providing value-added and after sales services. The burgeoning demand for oxygen from the growing steel and iron industry in China is also expected to bolster the demand for these compressors in the forthcoming years.
Meanwhile, the oil-free reciprocating compressors segment is also likely to revolutionize the China reciprocating compressors market with a steady CAGR of 8.6% between 2015 and 2022. The sectors anticipated to drive the growth of the oil-free compressors segment are pharmaceutical, electronics, textiles, and food and beverage. The demand for oil-free reciprocating compressors is also being fuelled by the rising pressure on the country to address environmental concerns and achieve the mandated level of energy efficiency.
This 68-page report gives readers a comprehensive overview of the Reciprocating Compressors Market. Browse to unlock the hidden opportunities in this market@
Refineries Demand New Reciprocating Compressors with Upgraded Features
The application of reciprocating compressors is seen in the refinery, upstream oil and gas, industrial gases production, LNG and CNG transport and storage, industrial gases, and ethylene and LDPE plants. The refinery segment is expected to expand at a CAGR of 7.0% between 2015 and 2022. As old refineries are being phased out by the government and new ones are being constructed, they are expected to drive the demand for reciprocating compressors in the coming years.
Some of the key players operating in the China reciprocating compressors market are Zigong Tongda Machinery Manufacturing Co., Ltd., Wuxi Compressor Co., Ltd., Shenyang Blower Works Group Corporation, and Shenyang Yuanda Compressor Co., Ltd. The report suggests that manufacturers should collaborate with multinational players investing in the China reciprocating compressors market to acquire substantial funding in the near future. Furthermore, upgrading after sales services and competitive pricing products will also work in the favor of local players.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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