Global Turbocompressors Market Growth, Trends & Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 125 | Published By - Mordor Intelligence

Report Highlights

The Turbo compressor market is estimated to reach USDXX Billion by 2022 with a CAGR of XX% from 2016 to 2022

The turbocompressor market is expected to witness a robust growth underpinned by factors such as increased industrialization (in industries such as automotive production and assembly), increased LNG transports, and new investments coming up in the non-oil & gas sector in the Middle East. On the Flipside, stringent environmental regulations in the oil & gas sector and increasing customization demand from the end-user industries are expected to hinder the growth of the market.

By type, the turbocompressor market can be segmented into centrifugal and axial turbocompressors. Centrifugal turbocompressors are the most widely used turbocompressors, and accounted for the largest market share in 2015. However, axial turbocompressors are expected to surpass them in the coming years, owing to a higher growth rate.

By application, the market for turbocompressors can be segmented into areas like oil and gas, chemicals, power generation and others. The oil & gas sector is the largest end-user segment of the turbocompressors market. With national governments ramping up power generation capabilities, the demand for turbocompressors in the power generation sector is expected to increase. The increasing LNG trade between nations, coupled with the growing adoption of turbocompressors for power generation is also expected to drive the global turbocompressor market.

The turbocompressor market has also been geographically segmented into broad regions, namely North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America. Asia-Pacific was the largest market for turbocompressor manufacturers in 2015 owing to rapid industrialization in Asian countries like China and India.

This report comprehensively analyses the turbocompressors market by segmenting it based on type, application stages and geography. Key drivers and restraints that are effecting the growth of this market are discussed in detail. The study also elucidates on competitive landscape and key market players.

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