Gas Jet Compressor Market
Gas Jet Compressor Market Forecasts to 2030 - Global Analysis By Compressor Type (Single-Stage and Multi-Stage), Pressure Range (Low Pressure, Medium Pressure and High Pressure), Depth, Technology, End User and by Geography
According to Stratistics MRC, the Global Gas Jet Compressor Market is accounted for $3141.79 million in 2024 and is expected to reach $4584.32 million by 2030 growing at a CAGR of 6.5% during the forecast period. A gas jet compressor is a kind of ejector that works without any moving parts by using high-pressure gas to drive and compress another gas stream. It accelerates the driving gas and produces a low-pressure zone by transforming its pressure energy into kinetic energy via a converging nozzle. Moreover, entrainment of the secondary, low-pressure gas is made possible by this low-pressure region, which mixes it with the high-velocity driving gas. Because of their dependability, low maintenance requirements, and capacity to handle a variety of gases, including toxic and corrosive ones, gas jet compressors are extensively utilized in sectors like refrigeration, chemical processing, and petrochemicals.
According to the International Energy Agency (IEA), global gas demand is anticipated to grow by approximately 2.5% in 2024, driven by increasing consumption in Asian markets and recovering industrial demand in Europe.
Market Dynamics:
Driver:
Need for energy efficiency
Due to economic and environmental factors, energy efficiency is becoming more important in all industries. Higher operating efficiencies are being designed into gas jet compressors to minimize energy consumption and lower operating costs. Innovative technologies that improve performance while using less energy are becoming more and more important to manufacturers. Additionally, energy-efficient compressors are in high demand as a result of this trend, which is in line with international efforts to reduce carbon footprints and accomplish sustainability goals.
Restraint:
Expensive initial investment costs
The high upfront costs of buying and installing new compressors are one of the main factors limiting the market for gas jet compressors. Advanced gas jet compressor systems can be expensive to purchase, which puts off some potential customers, particularly small and medium-sized businesses. Furthermore, many businesses may prioritize other investments over updating or purchasing new compression technology as a result of this financial burden, which can limit their ability to enter new markets and expand.
Opportunity:
Growing natural gas demand
There are a lot of opportunities for gas jet compressor manufacturers due to the growing demand for natural gas as a cleaner substitute for coal and oil on a global scale. Because of its lower emissions, natural gas is increasingly being chosen as nations work to lessen their carbon footprints and switch to more sustainable energy sources. This pattern is especially noticeable in areas like Asia-Pacific and North America, where investments in natural gas infrastructure are growing quickly. Moreover, gas jet compressors are crucial for the effective storage and transportation of natural gas, putting producers in a position to profit from this expanding market niche.
Threat:
Intensive competition in the market
There is fierce competition in the gas jet compressor market, with many well-established companies and recent arrivals fighting for market share. Price wars, in which businesses lower their prices to draw clients, can result from this fierce competition and eventually squeeze profit margins. Smaller manufacturers may also find it difficult to keep up with rivals who make significant investments in R&D to innovate and differentiate their products. Additionally, profitability and innovation may be hampered by the pressure to maintain competitive pricing while maintaining quality.
Covid-19 Impact:
The COVID-19 pandemic had a major effect on the gas jet compressor market, causing supply chain disruptions and a drop in demand as a result of worldwide shutdowns. Delays in acquiring components and raw materials, especially from areas severely impacted by the pandemic, were a problem for many manufacturers and limited their ability to produce. Furthermore, the pandemic's economic uncertainty resulted in lower capital expenditures across industries that depend on gas jet compressors, especially those in the power generation, chemical processing, and oil and gas sectors. However, a market recovery is anticipated as industries adjust and recover, propelled by the continuous development of natural gas infrastructure and rising investments in greener energy sources.
The Medium Pressure segment is expected to be the largest during the forecast period
The market for gas jet compressors is dominated by the medium-pressure segment. Because of their adaptability and efficiency in managing a variety of applications, medium-pressure compressors are extensively used in a wide range of industries, including power generation, chemical processing, and oil and gas. The capacity of these compressors to effectively compress gases at pressures appropriate for processing and transportation applications makes them especially valuable. Moreover, they are a popular option for businesses wishing to upgrade their infrastructure without requiring major changes because of their design, which frequently makes it simpler to integrate them with current systems.
The Ultra Deep Water Drilling segment is expected to have the highest CAGR during the forecast period
The ultra-deep water drilling segment of the gas jet compressor market is anticipated to grow at the highest CAGR. The rising demand for natural gas and oil worldwide, especially as traditional onshore supplies run out, is driving this market's rapid expansion. In order to extract hydrocarbons from depths greater than 1,500 meters, ultra-deep water drilling necessitates the use of specialized equipment, such as gas jet compressors, and cutting-edge technologies to ensure safe and effective operations. Additionally, investments in ultra-deep water projects are being driven by the growing emphasis on exploring new offshore drilling frontiers as well as improvements in drilling technologies and techniques.
Region with largest share:
The North American region has the largest market share in the gas jet compressor industry. The strong oil and gas industries in the US and Canada are the main drivers of this dominance, as gas jet compressors are necessary for effective gas processing and transportation. The demand for these compressors is further increased by the region's emphasis on cleaner energy sources, such as hydrogen and natural gas, as businesses work to cut emissions and meet sustainability goals. Furthermore, the market leadership of North America is also a result of large investments in infrastructure development and technological developments in compressor systems.
Region with highest CAGR:
The gas jet compressor market is expected to grow significantly in the Middle East and Africa, with the highest CAGR. The region's enormous oil and gas reserves as well as continuous investments in energy infrastructure, especially in nations like Saudi Arabia and the United Arab Emirates, are major contributors to this growth. The Middle East is concentrating on increasing its capacity to produce and process natural gas in order to satisfy both local and global energy demands. Moreover, the need for gas jet compressors is further increased by programs meant to diversify energy sources and improve the effectiveness of gas transportation systems.
Key players in the market
Some of the key players in Gas Jet Compressor market include Baker Hughes, GEA Group Aktiengesellschaft, Schlumberger, Honeywell International Inc., Bauer Compressors Inc., Ingersoll Rand Inc, Atlas Copco AB, Kadant Inc, Forbes Marshall, Siemens Energy, Ariel Corporation, Howden Group Ltd, Croll Reynolds, Körting Hannover GmbH and Burckhardt Compression Holding AG.
Key Developments:
In July 2024, Honeywell has entered into a long-term agreement with Air India Limited, India’s premier global airline and a part of the Tata Group, to provide Auxiliary Power Unit (APU) aftermarket support for both the existing and new fleets. This agreement ensures comprehensive maintenance for Honeywell APUs, enhancing aircraft dispatch reliability, fleet availability, and reducing unplanned maintenance costs across Air India’s fleet.
In June 2024, Baker Hughes, an energy technology company, announced it has entered into a new 10-year services frame agreement with Woodside Energy to support its LNG operations in Australia. Under the multi-year services frame agreement, Baker Hughes will provide spare parts and field service resources for onsite turbomachinery equipment maintenance and upgrades, equipment refurbishment and advanced digital asset performance services.
In March 2024, Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to acquire ILC Dover (“ILC”) from New Mountain Capital, LLC, a leading growth-oriented investment firm with approximately $50 billion in assets under management.
Compressor Types Covered:
• Single-Stage
• Multi-Stage
Pressure Ranges Covered:
• Low Pressure
• Medium Pressure
• High Pressure
Depths Covered:
• Shallow Water
• Deep Water Drilling
• Ultra Deep Water Drilling
Technologies Covered:
• Drilling Riser
• Blowout Preventer
• Seafloor Pumping
End Users Covered:
• Oil Exploration and Production
• Chemical Processing Plants
• Power Generation Plants
• Food Processing Plants
• Pharmaceutical Manufacturing
• HVAC (Heating, Ventilation, and Air Conditioning) Systems
• Aerospace and Defense
• 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 2022, 2023, 2024, 2026, and 2030
- 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
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 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 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 Gas Jet Compressor Market, By Compressor Type
5.1 Introduction
5.2 Single-Stage
5.3 Multi-Stage
6 Global Gas Jet Compressor Market, By Pressure Range
6.1 Introduction
6.2 Low Pressure
6.3 Medium Pressure
6.4 High Pressure
7 Global Gas Jet Compressor Market, By Depth
7.1 Introduction
7.2 Shallow Water
7.3 Deep Water Drilling
7.4 Ultra Deep Water Drilling
8 Global Gas Jet Compressor Market, By Technology
8.1 Introduction
8.2 Drilling Riser
8.3 Blowout Preventer
8.4 Seafloor Pumping
9 Global Gas Jet Compressor Market, By End User
9.1 Introduction
9.2 Oil Exploration and Production
9.3 Chemical Processing Plants
9.4 Power Generation Plants
9.5 Food Processing Plants
9.6 Pharmaceutical Manufacturing
9.7 HVAC (Heating, Ventilation, and Air Conditioning) Systems
9.8 Aerospace and Defense
9.9 Other End Users
10 Global Gas Jet Compressor Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Baker Hughes
12.2 GEA Group Aktiengesellschaft
12.3 Schlumberger
12.4 Honeywell International Inc.
12.5 Bauer Compressors Inc.
12.6 Ingersoll Rand Inc
12.7 Atlas Copco AB
12.8 Kadant Inc
12.9 Forbes Marshall
12.10 Siemens Energy
12.11 Ariel Corporation
12.12 Howden Group Ltd
12.13 Croll Reynolds
12.14 Körting Hannover GmbH
12.15 Burckhardt Compression Holding AG
List of Tables
1 Global Gas Jet Compressor Market Outlook, By Region (2022-2030) ($MN)
2 Global Gas Jet Compressor Market Outlook, By Compressor Type (2022-2030) ($MN)
3 Global Gas Jet Compressor Market Outlook, By Single-Stage (2022-2030) ($MN)
4 Global Gas Jet Compressor Market Outlook, By Multi-Stage (2022-2030) ($MN)
5 Global Gas Jet Compressor Market Outlook, By Pressure Range (2022-2030) ($MN)
6 Global Gas Jet Compressor Market Outlook, By Low Pressure (2022-2030) ($MN)
7 Global Gas Jet Compressor Market Outlook, By Medium Pressure (2022-2030) ($MN)
8 Global Gas Jet Compressor Market Outlook, By High Pressure (2022-2030) ($MN)
9 Global Gas Jet Compressor Market Outlook, By Depth (2022-2030) ($MN)
10 Global Gas Jet Compressor Market Outlook, By Shallow Water (2022-2030) ($MN)
11 Global Gas Jet Compressor Market Outlook, By Deep Water Drilling (2022-2030) ($MN)
12 Global Gas Jet Compressor Market Outlook, By Ultra Deep Water Drilling (2022-2030) ($MN)
13 Global Gas Jet Compressor Market Outlook, By Technology (2022-2030) ($MN)
14 Global Gas Jet Compressor Market Outlook, By Drilling Riser (2022-2030) ($MN)
15 Global Gas Jet Compressor Market Outlook, By Blowout Preventer (2022-2030) ($MN)
16 Global Gas Jet Compressor Market Outlook, By Seafloor Pumping (2022-2030) ($MN)
17 Global Gas Jet Compressor Market Outlook, By End User (2022-2030) ($MN)
18 Global Gas Jet Compressor Market Outlook, By Oil Exploration and Production (2022-2030) ($MN)
19 Global Gas Jet Compressor Market Outlook, By Chemical Processing Plants (2022-2030) ($MN)
20 Global Gas Jet Compressor Market Outlook, By Power Generation Plants (2022-2030) ($MN)
21 Global Gas Jet Compressor Market Outlook, By Food Processing Plants (2022-2030) ($MN)
22 Global Gas Jet Compressor Market Outlook, By Pharmaceutical Manufacturing (2022-2030) ($MN)
23 Global Gas Jet Compressor Market Outlook, By HVAC (Heating, Ventilation, and Air Conditioning) Systems (2022-2030) ($MN)
24 Global Gas Jet Compressor Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
25 Global Gas Jet Compressor Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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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