PUBLISHER: Allied Market Research | PRODUCT CODE: 1414783
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414783
According to a new report published by Allied Market Research, titled, "Reciprocating Compressor Market," The reciprocating compressor market was valued at $4.9 billion in 2022, and is estimated to reach $7.2 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032. The reciprocating compressor, or piston compressor, functions as a positive displacement device and ranks among the most commonly utilized compressor types. In this system, gas undergoes compression through the reciprocating motion of a piston. Despite managing a small mass of gas, it excels in achieving a high-pressure ratio.
There are two types of reciprocating compressors for general purpose, such as single acting reciprocating compressor and double-acting reciprocating compressor. In single-acting type, the compressor cylinder is usually arranged in the vertical position while in double acting the compression cylinders are normally arranged in horizontal. Reciprocating compressor is used to produce high-pressure gas output. Reciprocating compressor is mainly used in the refrigeration cycle. It is widely used in oil refineries, gas pipelines, natural gas processing plants, chemical plants, etc.
The rise in demand for reciprocating compressors from various industry verticals such as oil and gas, power generation, chemical plants, and others is expected to boost the market growth. In addition, it offers various advantages such as flexibility of use, higher pressure generation, high efficiencies achieved, and the efficiency of use in intermittent cycling which is creating the demand for reciprocating compressor. In addition, the increase in need for energy efficient products, increasing application areas, penetration of IoT & Industry 4.0, and the increased market for compressed air supplements the market growth. Reciprocating compressor gains traction among the end users due to high rate of adoption from end-user industries, rise in number of industrial infrastructure projects, and increase in investment across all the process industries which is expected to boost the market growth.
The reciprocating compressor market is segmented on the basis of type, stage, end user, and region. By type, the market is categorized into single acting, double acting, and diaphragm. On the basis of stage, it is bifurcated into single stage and multi-stage. As per end user, the market is categorized into oil and gas, pharmaceutical, chemical plants, refrigeration plants, food, manufacturing, automotive, and others. Region wise, the market is analyzed across the North America, Europe, Asia-Pacific and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launch and product development to strengthen their market outreach and sustain the stiff competition in the market.
Competition Analysis
Key companies profiled in the reciprocating compressor market report include Ariel Corporation, Atlas Copco AB, Burckhardt Compression Holding AG, Gardner Denver Holdings, Inc., General Electric, Howden Group Holdings Limited, IHI Corporation, Mayekawa Mfg. Co., Ltd., SIEMENS AG, and Ingersoll Rand.
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