The report “Global Centrifugal Compressor Market, By End User (Oil and Gas, Power Sector, Petrochemical and Chemical Industries, and Other End Users), and Region – Global Forecast to 2030″ global centrifugal compressor market is projected to grow from US$ 14.3 billion in 2019 The major factors driving the global centrifugal compressor are the expected increase in the uptake of newer oil & gas projects in the coming years and the growing need to expand natural gas pipeline infrastructure. Budgetary restrictions across several end-user industries have resulted in companies looking for standardized solutions, instead of customized units. The increase in the development of power generation plants, particularly the gas-fired generation plants, is expected to drive the demand for centrifugal compressors during the forecast period.
- In August 2019, Atlas Copco announced Centrifugal ZB VSD blowers supply deep sedimentation tanks with high-pressure air.
- In July 2018, Atlas Copco launched a new oil-free H 1000-3150 centrifugal compressor, which allows a turndown of over 25% before blow-off, maximizing the energy savings and minimizing the operating costs.
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Key Market Insights from the report:
The global centrifugal compressor market accounted for US$ 14.3 billion in 2019 and is projected to register a moderate CAGR of 4.80% over the forecast period. The market report has been segmented on the end-user, and region.
- By end-user, the oil and gas industry dominated the segment, owing to the increasing oil and gas activities across the world
- By region, Asia-Pacific is projected to lead the global centrifugal compressor market and is expected to remain dominant during the forecast period, due to increase in the development of power generation plants, particularly the gas-fired generation plants.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Centrifugal Compressor Market”, By End User (Oil and Gas, Power Sector, Petrochemical and Chemical Industries, and Other End Users), and by Region – global forecast till 2030
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The prominent player operating in the global centrifugal compressor market includes Dresser-Rand, Atlas Copco, IHI, Kobelco, Hitachi, Ingersoll Rand, Gardener Denver, Baker Hughes, Mitsubishi Heavy Industries, and Elliott.
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