Market Research Report
Turbocompressor Market by Type (Centrifugal & Axial), Application (Oil & Gas, Chemical, and Power Generation), Stage (Single & Multi), Output Pressure (0-20, 21-100, Above 100 Bar), and by Region - Global Trends & Forecasts to 2021
|Published by||MarketsandMarkets||Product code||337325|
|Published||Content info||146 Pages
Delivery time: 1-2 business days
|Turbocompressor Market by Type (Centrifugal & Axial), Application (Oil & Gas, Chemical, and Power Generation), Stage (Single & Multi), Output Pressure (0-20, 21-100, Above 100 Bar), and by Region - Global Trends & Forecasts to 2021|
|Published: August 19, 2016||Content info: 146 Pages||
The turbocompressors market is projected to reach USD 15.81 billion by 2021, growing at a CAGR of 5.4% from 2016 to 2021. Factors such as the rapid growth of the manufacturing sector in South Asian countries and increasing investments in sectors other than oil & gas in the Middle East are driving market growth.
The oil & gas sector is the largest end-user of turbocompressors. Turbocompressors are used in almost all the stages of the oil & gas industry, from extraction to refining, transport, and storage. Given the increasing LNG trade between nations, the demand for turbocompressors is expected to increase in the future. To minimize losses, major players have suspended or cancelled exploration and drilling investments. However, the growing demand for chemical and petrochemical derived products, coupled with low oil prices, has ensured the steady growth of the downstream oil & gas industry. The increasing investments in petrochemical industries are a key factor spurring the growth of the turbocompressors market.
In-depth interviews have been conducted with various key industry participants, subject matter experts, corporate-level executives of major market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. The distribution of primary interviews is as follows:
Note: Others include sales, marketing, and product managers.
The tier of the companies has been defined on the basis of their total revenue; as of 2015, Tier 1 ≥USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 ≤USD 1 billion.
Leading players in this industry have been profiled, along with their recent developments and other strategic activities. These include Ingersoll Rand PLC (Ireland), Siemens AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), General Electric (U.S.), and Atlas Copco (Sweden).
*Details on company at a glance, recent financials, Products offered, strategies & insights, & recent developments might not be captured in case of unlisted companies.