Centrifugal Compressors Market 2021 – 2022 | Scope, Revenue, Trends, Drivers, Challenges, and Competitive Landscape

Centrifugal compressors are a class of work absorbing turbomachinery and find primary application in the oil and gas industry. They are also referred to as radial compressors. Centrifugal compressors are thought to offer greater operational advantages over conventional gas compressors, helping decrease oil leakages by drastic levels. With rising energy demands, the centrifugal compressors market is poised to grow with a steady a pace.

Technology
Conventional gas compressors have been in use for a long time, in turn establishing the importance of compressors to potential consumers in the market. Centrifugal compressors offer a more modern technology to its conventional counterparts. Ideally, centrifugal compressors achieve a rise in pressure by adding velocity to a continuous stream of fluid through an impeller (rotor). This sudden change is then converted into an increase in static pressure by slowing flow through a diffuser. The pressure rise in the impeller is in most cases almost equal to the rise in the diffuser.

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Market Dynamics
Increasing oil prices and decreasing abundance of the resource have made it important to reduce wastage wherever possible. Centrifugal compressors reduce such wastages to the maximum, wiping away any such concerns of resource mismanagement. This and the centrifugal compressor’s ability to maintain better case pressure even during the shutdown have helped the market gain steady ground.

While the oil and gas industry might be viewed as the chief booster to the market, certain questions involving oil’s credibility as a safe and clean source of energy might be seen as a reason for concern. However, current operations have only established that present conditions are enough to keep the market going at a healthy pace.

Market Segmentation
The market is segmented into multi stage and single stage centrifugal compressors based on their functioning. Another mode of segmenting the market lies in its homologous applications. Based on this, the market can be segmented into axial compressors, centrifugal fans, centrifugal pumps, and radial turbines.

Geographical Analysis
Regionally, the market is segmented into North America, Asia Pacific, Middle East, Africa, Europe, and the Rest of the World. Amongst these, North America is expected to lead the market in terms of value with Asia Pacific and Europe following close behind. Asia Pacific is expected to overtake North America eventually, owing to the rapid pace with which it advances compared to other rival segments.

Key players
Key players in the global centrifugal compressors market include Samsung, MAN, Ingersoll Rand, General Electric, Johnson, UTC, Dresser Rand, Daikin, Hitachi and Shenyang Blower Works.

Report Contents Regional Analysis Report Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

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Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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