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According to the latest report by IMARC Group “Turbocompressors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global turbocompressors market reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026.
Turbocompressor is a turbomachine that is mainly employed in manufacturing plants for concentrating a compressible gas through dynamic principles. It is also utilized for energy recovery, petrochemical production, and power generation during natural gas processing. A turbocompressor includes a turbocharger, compressor, and center hub rotating assembly. At present, it is available in the form of axial and centrifugal compressors.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The widespread adoption of turbocompressors for chemical processing and power generation, along with the increasing trade of liquefied natural gas (LNG) across the globe is one of the primary factors driving the turbocompressor market toward growth. Moreover, the increasing utilization of turbocompressors for storing, lifting, injecting, compressing, transmitting, and gathering gas is further inducing the market growth. In line with this,the escalating demand for optimized turbocompressors account of their fuel-saving and high-power density properties are creating a positive outlook for the market across the globe.
Breakup by Type:
Centrifugal Compressors
Axial Compressors
Breakup by Stage:
Single Stage
Multi-stage
Breakup by End User:
Oil and Gas
Power Generation
Chemical
Water and Wastewater
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Atlas Copco AB
BorgWarner Inc.
Continental AG
Cummins Inc.
Eaton Corporation plc
Howden Group Holdings Ltd
Ingersoll Rand Inc.
Kawasaki Heavy Industries Ltd.
MAN Energy Solutions SE (Volkswagen AG)
Mitsubishi Heavy Industries Ltd
Siemens AG and Sulzer Ltd.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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