The global industry gas compressor market is poised for steady growth, according to the TechSci Research report titled “Global Industry Gas Compressor Market – By Region, Competition, Forecast & Opportunities, 2028”. The market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 4.08% during the forecast period spanning from 2024 to 2028. This growth is primarily driven by the increasing demand for natural gas for power generation and the rising need for compressors from various industries, including pharmaceuticals.
Factors Driving Market Growth:
- Growing Demand for Natural Gas: With heightened environmental awareness, many countries are striving to reduce their carbon emissions by transitioning from coal-based electricity generation to gas-based energy generation. This shift has led to a significant increase in natural gas production globally, supporting the demand for gas compressors from the oil and gas industry.
- Government Initiatives and Investments: Governments worldwide are investing in gas infrastructure to enhance energy security and promote cleaner energy sources. For example, the Indian government plans to invest approximately USD 60 billion by 2024 to expand gas infrastructure and increase the share of gas in the energy mix from 6% to 15% by 2030. Such initiatives are expected to drive the application for gas compressors in the forecast period.
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Market Segmentation:
The global industry gas compressor market is segmented based on end-user industry and region.
- End-user Industry Segment: The market is segmented into Oil and Gas, Power Sector, Petrochemical and Chemical Industries, Industrial Gases, and Other End-user Industries. Among these, the Oil and Gas segment is expected to dominate the market. The increased use of natural gas for electricity generation and other industrial processes is driving the demand for gas compressors in this sector.
- Region Segment: Asia Pacific is anticipated to dominate the market during the forecast period. The region, home to major economies like China, Japan, and India, is witnessing rapid development across various industries, including oil and gas, manufacturing, and power generation. Countries like China and India are among the top players in the oil and gas industry, driving the demand for gas compressors. Additionally, government initiatives to increase the use of natural gas further contribute to market growth.
Key Growth Drivers in Asia Pacific:
- Rising Natural Gas Consumption: Natural gas consumption in the Asia-Pacific region has steadily increased since 2015. With countries like China and India leading the way, the region’s natural gas consumption is expected to continue growing. For instance, China aims to increase the use of natural gas in its primary energy mix to decrease reliance on coal-based energy.
- Government Investments in Infrastructure: Governments in countries like India are investing heavily in oil and gas infrastructure to meet growing energy demands. Projects such as gas compressor stations and natural gas pipelines are expected to drive the demand for gas compressors in the region.
Competitive Analysis:
In the global industry gas compressor market, competition is intense among both international and local manufacturers. Established players benefit from their brand reputation and extensive distribution networks, while local manufacturers leverage their understanding of regional preferences to gain a competitive edge.
Key Strategies for Success:
To succeed in this competitive landscape, companies must focus on innovation, product differentiation, and market expansion. Embracing technological advancements and offering customized solutions tailored to specific industry needs can enhance competitiveness. Additionally, forming strategic partnerships and alliances can help companies penetrate new markets and strengthen their foothold in existing ones.
The global industry gas compressor market is poised for steady growth driven by the increasing demand for natural gas and government initiatives to promote cleaner energy sources. Asia Pacific is expected to dominate the market, fueled by rising natural gas consumption and government investments in infrastructure. To thrive in this competitive landscape, companies must prioritize innovation, market expansion, and strategic partnerships to capitalize on emerging opportunities and sustain long-term growth.
Major companies operating in the Global Industry gas Compressor market are:
- Ariel Corporation
- Atlas Copco AB
- Bauer Compressors Inc.
- Burckhardt Compression Holding AG
- General Electric Company
- HMS Group
- Howden Group Ltd
- Ingersoll Rand Inc.
- Siemens Energy AG
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“The global Industry gas Compressor market is driven by several key factors that shape its growth and development. Increase in demand for gas compressors in oil & gas, power generation, and industrial sectors is driving the gas compressor industry growth. Furthermore, rise in demand for natural gas, due to its cleaner burning properties, is boosting the demand for gas compressor in the oil & gas sector. Technological advancements in gas compressor designs and the adoption of more energy-efficient and environmentally friendly compressors are also propelling the gas compressor market demand.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Industry gas Compressor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast
Segmented by Type (Positive Displacement and Dynamic Displacement), End-user Industry (Oil and Gas, Power Sector, Petrochemical and Chemical Industries, Industrial Gases, and Other End-user Industries), By Region, Competition, 2018-2028”, has evaluated the future growth potential of global Industry gas Compressor market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Industry gas Compressor market.
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