Centrifugal Compressor Market
Centrifugal Compressor Market Forecasts to 2028 - Global Analysis By Product (Multi-Stage, Single-Stage), Application (Offshore, Onshore), Technology (Air Compressor, Gas Compressor), End User (Power Sector, Petrochemical & Chemical Industries, Oil & Gas, Power Generation, Industrial Gases, Transportation) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $3.17 BN |
|
Projected Year Value (2028) |
US $4.69 BN |
|
CAGR (2022 - 2028) |
6.75% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Centrifugal Compressor Market is accounted for $3.17 billion in 2022 and is expected to reach $4.69 billion by 2028 growing at a CAGR of 6.75% during the forecast period. A centrifugal compressor is a kind of compressor that makes use of revolving vanes or impellers to squeeze a gas as a substitute of a piston. This compressor is used in high-end air compressors in addition to on refrigeration units and air conditioners. These compressors are capable to be used in stages to generate ultra high compression of gasses or air. These are extensively used in refineries for the oil refining and automotive industry.
According to the National Development and Reform Commission, China has 112,000 kilometers of oil and gas pipelines and the country would need to build another 128,000 kilometers of pipeline in the next few years. The pipeline networks for crude oil and refined oil is expected to be expanded to 37,000 kilometers and 40,000 kilometers by 2025. According to the Indian Brand Equity Foundation, the manufacturing sector in the country has the potential to reach USD 1 trillion by 2025. According to the National Development and Reform Commission, the country’s natural gas pipelines are expected to reach 123,000 km, by 2025.
Market Dynamics:
Driver:
Growing investment in oil and gas exploration & production
The growing investment in oil and gas exploration and production actions is one of the main drivers boosting the centrifugal compressor market expansion. The centrifugal compressor has well-known applications in the upstream, midstream, and downstream processing in the oil and gas industry. Numerous countries have taken plan to raise investments in oil and gas exploration & production actions to enhance the production of hydrocarbons.
Restraint:
Fluctuating prices of raw materials
One of the factors impeding the expansion of the centrifugal compressor market is the fluctuating cost of raw materials. Due to intense market rivalry, some dealers are compelled to lower the prices of their product offers in order to keep their market share. Significantly, steel, aluminium, and carbon steel are the primary raw materials utilised in the construction of centrifugal compressors. The price of these commodities, however, does not stay constant but rather changes frequently as a result of many macroeconomic and microeconomic factors. This affects the costs of products utilising centrifugal compressors.
Opportunity:
Fit-for-Purpose Gas Compressors
New market prospects for centrifugal compressors are being created by improvements in "fit-for-purpose" centrifugal compressors that are utilised as fuel gas boosters for turbines generating electricity at refineries, chemical industries, hospitals, etc. Gas turbine power generation in industrial and commercial co-generation power plants is in high demand due to the need for cleaner and more economical energy. Fit-for-Purpose gas compressors are now available from manufacturers and offer features like high efficiency, safety, an oil-free construction, and pulsation-free, smooth gas flow. These possibilities increase market demand for the product.
Threat:
Low Compression Ratio
The primary flaw in the market is that centrifugal compressors require numerous stages to attain the high compression ratio of reciprocating compressors. One-stage centrifugal compressors with pressure ratios are uncommon. The safety, toughness, and lifespan of the compressor are restricted by stress considerations. Due to the weight and stress that would ensue, as well as the considerable frontal area that the large diameter of the radial diffuser would display, centrifugal compressors are not practicable for use in big gas turbine and turbojet engines that drive large aircraft. These elements may hurt the market.
Covid-19 Impact
Numerous industries were negatively impacted by the COVID-19 epidemic. However, the number of COVID cases is anticipated to decrease during the projection period because to ongoing COVID-19 immunisation efforts. Due to the gradual restart of construction and automotive projects, the demand for centrifugal compressors from the automotive, oil and gas, petrochemicals, aerospace, and chemical industries is anticipated to progressively increase. Therefore, it is projected that throughout the forecast period, these factors will propel the expansion of the regional centrifugal compressor market.
The single-stage segment is expected to be the largest during the forecast period
The single-stage segment is estimated to have a lucrative growth, due to effortlessness maintenance, and straightforward. Due to their sturdy construction, these centrifugal compressors require less maintenance and can be repaired more quickly. The single-stage centrifugal compressors used either an overhung impeller configuration or a beam design. These compressors are made up of a single impeller together with the diffuser and inlet guide vane that go with it.
The oil and gas segment is expected to have the highest CAGR during the forecast period
The oil and gas segment is anticipated to witness the fastest CAGR growth during the forecast period due to the construction of new pipeline projects, the oil and gas midstream industry is expanding globally. Centrifugal compressors have numerous uses in the upstream, middle, and downstream segments of the oil and gas industry. The oil and gas sector uses the centrifugal compressor for a variety of tasks, including gas transportation, compression for gas injection, gas collection, gas lift, etc. As a result of the aforementioned factors, the oil and gas segment is anticipated to rule the centrifugal compressor market throughout the anticipated period.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the high expansion of the oil& gas and power industries, highly used centrifugal compressors for powering the long-distance natural gas pipeline. There is rising development of the infrastructures for the oil& gas and power industries with the increasing power demand. There is a growing improvement of power generation plants specially the gas-fired generation plants.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to increasing industrialization distant from innovative advancements as well as technical developments. The region is moving in the direction of natural gas-based energy and substituting coal-based plants. The increasing gas consumption in the future is likely to produce important opportunities for market players. The industrial zone comprises of mining, manufacturing, agriculture, plus construction, accounts for the largest of energy consumption of some end-use sector and creates a substantial market for centrifugal compressors.
Key players in the market
Some of the key players profiled in the Centrifugal Compressor Market include Hitachi Ltd, EATON, General Electric Co., Techwin, Johnson Controls Inc., Atlas Copco AB, Kaeser, Baker Hughes Co., Kobe Steel Ltd., Siemens Energy AG, Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., IHI Corp., Kirloskar Pneumatic Company Limited, Hanbell Precise Machinery Co. Ltd., Elliott Group, Mitsui and Co. Ltd., MAN Energy Solutions SE, Ingersoll Rand Inc. and Kobelco.
Key Developments:
In July 2020, Mitsubishi Heavy Industries (MHI) Compressor International Corporation (MCO-I), a leader in designing and manufacturing compressors, steam turbines, and associated auxiliary systems, launched a new performance test stand for API617 centrifugal compressor testing in Houston.
In January 2020, Ingersoll Rand had launched the new generation of MSG Turbo-Air 2000 Centrifugal Compressor for the Indian market. MSG TURBO-AIR 2000 has the capability to cater flow capacity from 505 CFM to 1700 CFM with a pressure range from 3.5 Barg to 10 Barg.
In October 2018, ATLAS Copco had launched the ZH 1000-3150 oil-free centrifugal air compressors which is designed to meet the needs of the air separation industry for a larger centrifugal air compressor delivered in a standard package. The ZH 1000-3150 oil-free centrifugal air compressors provide the optimum combination of high flow and low energy consumption.
In June 2016, Atlas Copco had expanded its range of ZH and ZH+ oil-free centrifugal compressors to offer industrial process plants substantial energy savings and a wider range of flows and pressures. In August 2013, Atlas Copco had launched the new Atlas Copco’s ZH 355+ – 900+ oil-free centrifugal compressor range that employs advanced aerodynamics to reduce energy consumption in the core.
In August 2014, Ingersoll Rand had acquired Cameron International Corp.'s centrifugal compressors business for $850 million. This acquisition would help in expanding Ingersoll's markets for industrial compressors.
Products Covered:
• Multi-Stage
• Single-Stage
• Other Products
Technologies Covered:
• Air Compressor
• Gas Compressor
• Other Technologies
Applications Covered:
• Offshore
• Onshore
• Other Applications
End Users Covered:
• Power Sector
• Petrochemical & Chemical Industries
• Oil & Gas
• Power Generation
• Industrial Gases
• Transportation
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 ProductAnalysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Centrifugal Compressor Market, By Product
5.1 Introduction
5.2 Multi-Stage
5.3 Single-Stage
5.4 Other Products
6 Global Centrifugal Compressor Market, By Technology
6.1 Introduction
6.2 Air Compressor
6.3 Gas Compressor
6.4 Other Technologies
7 Global Centrifugal Compressor Market, By Application
7.1 Introduction
7.2 Offshore
7.3 Onshore
7.4 Other Applications
8 Global Centrifugal Compressor Market, By End User
8.1 Introduction
8.2 Power Sector
8.3 Petrochemical & Chemical Industries
8.4 Oil & Gas
8.5 Power Generation
8.6 Transportation
8.7 Other End Users
9 Global Centrifugal Compressor Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New ProductLaunch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Hitachi Ltd
11.2 EATON
11.3 General Electric Co.
11.4 Techwin
11.5 Johnson Controls Inc.
11.6 Atlas Copco AB
11.7 Kaeser
11.8 Baker Hughes Co.
11.9 Kobe Steel Ltd.
11.10 Siemens Energy AG
11.11 Kawasaki Heavy Industries Ltd.
11.12 Mitsubishi Heavy Industries Ltd.
11.13 IHI Corp.
11.14 Kirloskar Pneumatic Company Limited
11.15 Hanbell Precise Machinery Co. Ltd.
11.16 Elliott Group
11.17 Mitsui and Co. Ltd.
11.18 MAN Energy Solutions SE
11.19 Ingersoll Rand Inc.
11.20 Kobelco
List of Tables
1 Global Centrifugal Compressor Market Outlook, By Region (2020-2028) ($MN)
2 Global Centrifugal Compressor Market Outlook, By Product (2020-2028) ($MN)
3 Global Centrifugal Compressor Market Outlook, By Multi-Stage (2020-2028) ($MN)
4 Global Centrifugal Compressor Market Outlook, By Single-Stage (2020-2028) ($MN)
5 Global Centrifugal Compressor Market Outlook, By Other Products (2020-2028) ($MN)
6 Global Centrifugal Compressor Market Outlook, By Technology (2020-2028) ($MN)
7 Global Centrifugal Compressor Market Outlook, By Air Compressor (2020-2028) ($MN)
8 Global Centrifugal Compressor Market Outlook, By Gas Compressor (2020-2028) ($MN)
9 Global Centrifugal Compressor Market Outlook, By Other Technologies (2020-2028) ($MN)
10 Global Centrifugal Compressor Market Outlook, By Application (2020-2028) ($MN)
11 Global Centrifugal Compressor Market Outlook, By Offshore (2020-2028) ($MN)
12 Global Centrifugal Compressor Market Outlook, By Onshore (2020-2028) ($MN)
13 Global Centrifugal Compressor Market Outlook, By Other Applications (2020-2028) ($MN)
14 Global Centrifugal Compressor Market Outlook, By End User (2020-2028) ($MN)
15 Global Centrifugal Compressor Market Outlook, By Power Sector (2020-2028) ($MN)
16 Global Centrifugal Compressor Market Outlook, By Petrochemical & Chemical Industries (2020-2028) ($MN)
17 Global Centrifugal Compressor Market Outlook, By Oil & Gas (2020-2028) ($MN)
18 Global Centrifugal Compressor Market Outlook, By Power Generation (2020-2028) ($MN)
19 Global Centrifugal Compressor Market Outlook, By Transportation (2020-2028) ($MN)
20 Global Centrifugal Compressor Market Outlook, By Other End Users (2020-2028) ($MN)
21 North America Centrifugal Compressor Market Outlook, By Country (2020-2028) ($MN)
22 North America Centrifugal Compressor Market Outlook, By Product (2020-2028) ($MN)
23 North America Centrifugal Compressor Market Outlook, By Multi-Stage (2020-2028) ($MN)
24 North America Centrifugal Compressor Market Outlook, By Single-Stage (2020-2028) ($MN)
25 North America Centrifugal Compressor Market Outlook, By Other Products (2020-2028) ($MN)
26 North America Centrifugal Compressor Market Outlook, By Technology (2020-2028) ($MN)
27 North America Centrifugal Compressor Market Outlook, By Air Compressor (2020-2028) ($MN)
28 North America Centrifugal Compressor Market Outlook, By Gas Compressor (2020-2028) ($MN)
29 North America Centrifugal Compressor Market Outlook, By Other Technologies (2020-2028) ($MN)
30 North America Centrifugal Compressor Market Outlook, By Application (2020-2028) ($MN)
31 North America Centrifugal Compressor Market Outlook, By Offshore (2020-2028) ($MN)
32 North America Centrifugal Compressor Market Outlook, By Onshore (2020-2028) ($MN)
33 North America Centrifugal Compressor Market Outlook, By Other Applications (2020-2028) ($MN)
34 North America Centrifugal Compressor Market Outlook, By End User (2020-2028) ($MN)
35 North America Centrifugal Compressor Market Outlook, By Power Sector (2020-2028) ($MN)
36 North America Centrifugal Compressor Market Outlook, By Petrochemical & Chemical Industries (2020-2028) ($MN)
37 North America Centrifugal Compressor Market Outlook, By Oil & Gas (2020-2028) ($MN)
38 North America Centrifugal Compressor Market Outlook, By Power Generation (2020-2028) ($MN)
39 North America Centrifugal Compressor Market Outlook, By Transportation (2020-2028) ($MN)
40 North America Centrifugal Compressor Market Outlook, By Other End Users (2020-2028) ($MN)
41 Europe Centrifugal Compressor Market Outlook, By Country (2020-2028) ($MN)
42 Europe Centrifugal Compressor Market Outlook, By Product (2020-2028) ($MN)
43 Europe Centrifugal Compressor Market Outlook, By Multi-Stage (2020-2028) ($MN)
44 Europe Centrifugal Compressor Market Outlook, By Single-Stage (2020-2028) ($MN)
45 Europe Centrifugal Compressor Market Outlook, By Other Products (2020-2028) ($MN)
46 Europe Centrifugal Compressor Market Outlook, By Technology (2020-2028) ($MN)
47 Europe Centrifugal Compressor Market Outlook, By Air Compressor (2020-2028) ($MN)
48 Europe Centrifugal Compressor Market Outlook, By Gas Compressor (2020-2028) ($MN)
49 Europe Centrifugal Compressor Market Outlook, By Other Technologies (2020-2028) ($MN)
50 Europe Centrifugal Compressor Market Outlook, By Application (2020-2028) ($MN)
51 Europe Centrifugal Compressor Market Outlook, By Offshore (2020-2028) ($MN)
52 Europe Centrifugal Compressor Market Outlook, By Onshore (2020-2028) ($MN)
53 Europe Centrifugal Compressor Market Outlook, By Other Applications (2020-2028) ($MN)
54 Europe Centrifugal Compressor Market Outlook, By End User (2020-2028) ($MN)
55 Europe Centrifugal Compressor Market Outlook, By Power Sector (2020-2028) ($MN)
56 Europe Centrifugal Compressor Market Outlook, By Petrochemical & Chemical Industries (2020-2028) ($MN)
57 Europe Centrifugal Compressor Market Outlook, By Oil & Gas (2020-2028) ($MN)
58 Europe Centrifugal Compressor Market Outlook, By Power Generation (2020-2028) ($MN)
59 Europe Centrifugal Compressor Market Outlook, By Transportation (2020-2028) ($MN)
60 Europe Centrifugal Compressor Market Outlook, By Other End Users (2020-2028) ($MN)
61 Asia Pacific Centrifugal Compressor Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Centrifugal Compressor Market Outlook, By Product (2020-2028) ($MN)
63 Asia Pacific Centrifugal Compressor Market Outlook, By Multi-Stage (2020-2028) ($MN)
64 Asia Pacific Centrifugal Compressor Market Outlook, By Single-Stage (2020-2028) ($MN)
65 Asia Pacific Centrifugal Compressor Market Outlook, By Other Products (2020-2028) ($MN)
66 Asia Pacific Centrifugal Compressor Market Outlook, By Technology (2020-2028) ($MN)
67 Asia Pacific Centrifugal Compressor Market Outlook, By Air Compressor (2020-2028) ($MN)
68 Asia Pacific Centrifugal Compressor Market Outlook, By Gas Compressor (2020-2028) ($MN)
69 Asia Pacific Centrifugal Compressor Market Outlook, By Other Technologies (2020-2028) ($MN)
70 Asia Pacific Centrifugal Compressor Market Outlook, By Application (2020-2028) ($MN)
71 Asia Pacific Centrifugal Compressor Market Outlook, By Offshore (2020-2028) ($MN)
72 Asia Pacific Centrifugal Compressor Market Outlook, By Onshore (2020-2028) ($MN)
73 Asia Pacific Centrifugal Compressor Market Outlook, By Other Applications (2020-2028) ($MN)
74 Asia Pacific Centrifugal Compressor Market Outlook, By End User (2020-2028) ($MN)
75 Asia Pacific Centrifugal Compressor Market Outlook, By Power Sector (2020-2028) ($MN)
76 Asia Pacific Centrifugal Compressor Market Outlook, By Petrochemical & Chemical Industries (2020-2028) ($MN)
77 Asia Pacific Centrifugal Compressor Market Outlook, By Oil & Gas (2020-2028) ($MN)
78 Asia Pacific Centrifugal Compressor Market Outlook, By Power Generation (2020-2028) ($MN)
79 Asia Pacific Centrifugal Compressor Market Outlook, By Transportation (2020-2028) ($MN)
80 Asia Pacific Centrifugal Compressor Market Outlook, By Other End Users (2020-2028) ($MN)
81 South America Centrifugal Compressor Market Outlook, By Country (2020-2028) ($MN)
82 South America Centrifugal Compressor Market Outlook, By Product (2020-2028) ($MN)
83 South America Centrifugal Compressor Market Outlook, By Multi-Stage (2020-2028) ($MN)
84 South America Centrifugal Compressor Market Outlook, By Single-Stage (2020-2028) ($MN)
85 South America Centrifugal Compressor Market Outlook, By Other Products (2020-2028) ($MN)
86 South America Centrifugal Compressor Market Outlook, By Technology (2020-2028) ($MN)
87 South America Centrifugal Compressor Market Outlook, By Air Compressor (2020-2028) ($MN)
88 South America Centrifugal Compressor Market Outlook, By Gas Compressor (2020-2028) ($MN)
89 South America Centrifugal Compressor Market Outlook, By Other Technologies (2020-2028) ($MN)
90 South America Centrifugal Compressor Market Outlook, By Application (2020-2028) ($MN)
91 South America Centrifugal Compressor Market Outlook, By Offshore (2020-2028) ($MN)
92 South America Centrifugal Compressor Market Outlook, By Onshore (2020-2028) ($MN)
93 South America Centrifugal Compressor Market Outlook, By Other Applications (2020-2028) ($MN)
94 South America Centrifugal Compressor Market Outlook, By End User (2020-2028) ($MN)
95 South America Centrifugal Compressor Market Outlook, By Power Sector (2020-2028) ($MN)
96 South America Centrifugal Compressor Market Outlook, By Petrochemical & Chemical Industries (2020-2028) ($MN)
97 South America Centrifugal Compressor Market Outlook, By Oil & Gas (2020-2028) ($MN)
98 South America Centrifugal Compressor Market Outlook, By Power Generation (2020-2028) ($MN)
99 South America Centrifugal Compressor Market Outlook, By Transportation (2020-2028) ($MN)
100 South America Centrifugal Compressor Market Outlook, By Other End Users (2020-2028) ($MN)
101 Middle East & Africa Centrifugal Compressor Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Centrifugal Compressor Market Outlook, By Product (2020-2028) ($MN)
103 Middle East & Africa Centrifugal Compressor Market Outlook, By Multi-Stage (2020-2028) ($MN)
104 Middle East & Africa Centrifugal Compressor Market Outlook, By Single-Stage (2020-2028) ($MN)
105 Middle East & Africa Centrifugal Compressor Market Outlook, By Other Products (2020-2028) ($MN)
106 Middle East & Africa Centrifugal Compressor Market Outlook, By Technology (2020-2028) ($MN)
107 Middle East & Africa Centrifugal Compressor Market Outlook, By Air Compressor (2020-2028) ($MN)
108 Middle East & Africa Centrifugal Compressor Market Outlook, By Gas Compressor (2020-2028) ($MN)
109 Middle East & Africa Centrifugal Compressor Market Outlook, By Other Technologies (2020-2028) ($MN)
110 Middle East & Africa Centrifugal Compressor Market Outlook, By Application (2020-2028) ($MN)
111 Middle East & Africa Centrifugal Compressor Market Outlook, By Offshore (2020-2028) ($MN)
112 Middle East & Africa Centrifugal Compressor Market Outlook, By Onshore (2020-2028) ($MN)
113 Middle East & Africa Centrifugal Compressor Market Outlook, By Other Applications (2020-2028) ($MN)
114 Middle East & Africa Centrifugal Compressor Market Outlook, By End User (2020-2028) ($MN)
115 Middle East & Africa Centrifugal Compressor Market Outlook, By Power Sector (2020-2028) ($MN)
116 Middle East & Africa Centrifugal Compressor Market Outlook, By Petrochemical & Chemical Industries (2020-2028) ($MN)
117 Middle East & Africa Centrifugal Compressor Market Outlook, By Oil & Gas (2020-2028) ($MN)
118 Middle East & Africa Centrifugal Compressor Market Outlook, By Power Generation (2020-2028) ($MN)
119 Middle East & Africa Centrifugal Compressor Market Outlook, By Transportation (2020-2028) ($MN)
120 Middle East & Africa Centrifugal Compressor Market Outlook, By Other End Users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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