Gas Compressor Market to be Worth US$ 5,144.0 Million by 2030
Reports and Insights has published a new report titled, “Gas Compressor Market: Opportunity Analysis and Future Assessment 2022-2030”
Gas Compressor Market, By Type (Oil injected, Oil free), By Compressor (Dynamic Compressor, Positive Displacement Compressor (Piston Compressor, Rotary Screw Compressor, Others (including Tooth Compressor and Scroll Compressor)), By End User (Construction, Oil & Gas, Mining, Chemicals, Power Generation, Others (including Pharmaceutical, Food & Beverages, and Transportation)) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The gas compressor market is estimated to reach at a value of US$ 3,889.8 Mn by the end of 2022 and expected to reach at a value of US$ 5,144.0 Mn by 2030 with a significant CAGR of 3.5%.
Gas compressor can be perceived as a crucial machinery in gaseous fluid drilling procedures. In order to regulate the flow in the pipeline and reimburse for the energy losses, the gas compressors are unified in the pipelines.
A gas compressor is basically a mechanical instrument that escalates the pressure of a gas by lowering its volume. One of the major factors that is primarily accelerating the growth of the global gas compressor market is the dramatic growth in the oil and gas industry all around the world which creates a bright stance for the gas compressors market in the near future.
In addition to that, the extensive adoption of gas compressors for the handling and conveyance of renewable energy resources, for instance natural gas, over extended distances, is further projected to offer major breakthroughs to the market growth in the following years. Conforming to this, the gas compressors also find applications in hospitals through the course of surgical procedures and in air filtration duct systems for holding the air quality and prohibiting infections and contaminations.
What is more, there are several product innovations, such as the formation of power-efficient mobile and light-weight compressors for mechanization in industrial plants, that is further estimated to act as a positive factor for the growth of the global gas compressor market in the forthcoming years.
Moreover, the leading product manufacturers of the market are also aiming their attention at emerging variants with enhanced storage tanks, improved performance capacities, minimum maintenance needs and fuel intake, which is further anticipated to offer considerable growth to the global gas compressor market over the coming years.
Reports and Insights Study identifies some of the key participating players in the gas compressor market globally are Atlas Copco AB, Ingersoll Rand, General Electric, Siemens, Mitsui E&S Holdings Co., Ltd., KAESER KOMPRESSOREN, Hitachi Ltd., BAUER COMP Holding GmbH, Howden Group, Kobe Steel, Ltd., J.P. Sauer & Sohn Maschinenbau GmbH, and Ariel Corporation, among others.
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