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Global Turbo compressors Market by Manufacturers, Types, Regions and Application and Forecast 2021 to 2030

In a recently published report, Global Turbo compressors Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Turbo compressors Market products.

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It is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.

Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Description

Turbocompressor is the main unit of a gas-turbine jet engine consisting of mechanically coupled compressor and an aircraft gas turbine. It is a dynamic compressor used for compression and injection of gases. Gas keeps entering a rotating impeller while blades help transfer the mechanical shaft power to the fluid leading to a considerable temperature and pressure increase. The compressed gas may then be transferred to a secondary compressor stage or collected in a volute. Compressors can force more air and fuel into the chamber than atmospheric pressure alone could resulting in increased power output for engines.

Market Dynamics
The global turbocompressor market is expected to reach an estimate of US $18.42 Million by 2022 growing at a CAGR of 6.5%. The ecosystem is mainly divided into in-house and outsourced tasks. In-house tasks mostly focused on critical components of the product while the auxiliary parts are often outsourced. Maturing European markets and production of rotatory screw compressors are major constraints to the turbocompressor markets. The market has shown steady growth over the past few years due to increased demand from food and beverages, pharmaceuticals and chemical industries. Countries like India and China are also contributing rapidly to the market growth.

Market Segmentation
Based on type, the turbocompressor market is segmented into axial and centrifugal turbocompressors. Centrifugal compressor dominates the market currently with over 80% market share due to high adoption in auxiliary power units and gas turbines. Based on stage, they are classified into single-stage and multi-stage turbocompressors. Single-stage dominate the market and are expected to grow at a CAGR of 5.9% due to application in wide range of end user industries. Based on end-user industries, it is classified into chemical, power generation, oil and gas among others. The oil and gas industry dominated the market share as it requires turbo equipment across various stages of the oil and gas processing cycle. By output pressure, it can be segmented into three categories: 0 bar-20 bar, 21 bar-100 bar, Above 100 bar.

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Geographic Analysis
Geographically, the turbocompressor market is analyzed across four regions: North America, Europe, LAMEA and Asia Pacific with Asia Pacific market dominating in terms of market share expected to grow at a CAGR of 7.6%. The demand is further increasing due to growing consumer class and rising population. The market in North America is expected to be second in terms of growth potential closely following the APAC market owing to the growing manufacturing sector in the region. LNG trade across nations would drive the market as turbocompressors are used for gas storage and transportation.

Key Players
Some of the key players in the Industry are Atlas Copco AG, GE Oil & Gas, Ingersoll Rand, Siemens AG, Mitsubishi Heavy Industries Ltd., Hitachi ltd., Man Diesel and Turbo, Howden, Elliot Group Ltd., Kawasaki Heavy Industries Ltd. and Kobe Steel Ltd.
Report ContentsRegional AnalysisReport 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

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.

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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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Phone: +1 313 462 0609

Leonard Thomas is an energetic and versatile freelance writer for 5 years, he pen down any type of articles and web content. he is a Cambridge University Business English Certificate (Europe Level) holder . he is analytical, enthusiastic and ingenious, with the essence to work variously, strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily posses .

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