Turbocompressor Market
Turbocompressor Market Forecasts to 2030 - Global Analysis By Type (Axial Turbocompressors, Centrifugal Turbocompressors and Hydraulic Turbocompressors), Stage (Single Stage and Multi-Stage), Output Pressure, Sales Channel, Application, End User and By Geography
According to Stratistics MRC, the Global Turbocompressor Market is accounted for $20.33 billion in 2024 and is expected to reach $31.20 billion by 2030 growing at a CAGR of 7.4% during the forecast period. A turbocompressor is a mechanical device that increases the pressure of a gas by using a rotating impeller or rotor, driven by a turbine. It operates by drawing gas into the compressor section, where it is compressed through dynamic action and expelled at a higher pressure. Turbocompressors are commonly used in applications requiring high efficiency and flow rates, such as in gas turbines, industrial processes, and HVAC systems. Their design can vary to handle different gases and operating conditions, making them versatile for various industries, including the petrochemical, aerospace, and automotive sectors.
Market Dynamics:
Driver:
Growing industrialization
Growing industrialization is a significant driver in the turbocompressor market due to increasing demand across various sectors. As industries expand, the need for efficient and powerful compression systems for air, gas, and refrigeration applications rises. Turbocompressors, known for their high efficiency and capacity, are essential in power plants, chemical processing, oil and gas refineries, and manufacturing facilities. This growth is fueled by industrial modernization, higher energy demands, and the pursuit of optimized production processes, leading to increased adoption and development of advanced turbocompressor technologies.
Restraint:
Dependency on End-user Industries
The dependency on end-user industries acts as a restraint on the turbocompressor market due to its susceptibility to fluctuations in these industries. Turbocompressors find application in various sectors like oil and gas, power generation, and manufacturing, among others. When these industries experience downturns or shifts in demand, the demand for turbocompressors is directly affected. Economic downturns, regulatory changes, or technological advancements impacting these end-user industries can slow down investment in turbocompressor technology.
Opportunity:
Growing number of wastewater treatment plants
The growing number of wastewater treatment plants presents a significant opportunity in the turbocompressor market. As environmental regulations become stricter, there is a heightened demand for efficient and reliable equipment to manage wastewater treatment processes. Turbocompressors play a crucial role in aeration systems, which are essential for biological treatment in wastewater plants. With the expansion of urban areas and industrial activities, the need for wastewater treatment is escalating, further driving the demand for turbocompressors. Additionally, advancements in turbocompressor technology, such as improved energy efficiency and lower maintenance requirements, make them increasingly attractive for wastewater treatment applications.
Threat:
Substitute products such as rotatory screw compressors
Rotary screw compressors pose a significant threat in the turbocompressor market due to their ability to serve as substitute products offering similar functionalities. While turbocompressors are known for their high efficiency and compact design, rotary screw compressors compete by providing cost-effective solutions with lower maintenance requirements. The threat intensifies as rotary screw compressors continue to advance technologically, narrowing the performance gap with turbocompressors. Additionally, buyers may opt for rotary screw compressors if they prioritize initial cost savings over long-term efficiency.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the turbocompressor market. With industries shutting down or reducing operations globally due to lockdown measures, the demand for turbocompressors, primarily used in various industrial applications including oil and gas, chemicals, and power generation, saw a steep decline. Uncertainty and financial constraints led to deferred investments in new projects, affecting the sales of turbocompressors. However, as economies gradually reopen and industrial activities resume, the market is expected to recover, driven by increased demand for energy and infrastructure projects.
The hydraulic turbocompressors segment is expected to be the largest during the forecast period
The growth of hydraulic turbocompressors in the turbocompressor market has been remarkable due to several key factors. Advancements in hydraulic turbine technology have led to increased efficiency and reliability, making hydraulic turbocompressors a preferred choice in various industrial applications. The growing demand for energy-efficient solutions has driven the adoption of hydraulic turbocompressors, as they offer higher energy efficiency compared to traditional compressors. Additionally, the expanding industrial sector, especially in sectors like oil and gas, power generation, and wastewater treatment, has created a significant demand for hydraulic turbocompressors to meet the increasing need for compressed air and gas.
The Offshore segment is expected to have the highest CAGR during the forecast period
The offshore segment of the turbocompressor market has seen significant growth due to the expansion of offshore oil and gas exploration and production activities that has increased the demand for turbocompressors to maintain optimal operations. Additionally, the rise in offshore wind energy projects has further propelled the demand for these compressors for power generation. The need for efficient compression solutions in harsh offshore environments has also driven market growth.
Region with largest share:
In recent years, North America has experienced significant growth in the turbocompressor market, driven by several factors. The region's expanding industrial sector, particularly in oil and gas, chemicals, and power generation, has fuelled the demand for efficient compression solutions. Additionally, stringent environmental regulations have prompted industries to adopt more energy-efficient technologies, further boosting the market for turbocompressors. The shale gas revolution in the United States has led to increased investments in gas processing infrastructure, creating a substantial demand for turbocompressor systems.
Region with highest CAGR:
The Asia-Pacific region has witnessed significant growth in the turbocompressor market due to various factors. Rapid industrialization, particularly in emerging economies like China and India, has propelled the demand for turbocompressors across sectors such as oil and gas, power generation, and chemical processing. Moreover, stringent environmental regulations have encouraged industries to adopt energy-efficient solutions like turbocompressors to reduce carbon emissions. Additionally, the expansion of infrastructure projects and increasing investments in the manufacturing sector has further fuelled the demand.
Key players in the market
Some of the key players in Turbocompressor market include Atlas Copco AB, Bauer Compressors, Inc., Elliot Group Ltd, Gardner Denver, Inc., GE Oil & Gas, Howden Group Ltd, Kawasaki Heavy Industries, Kobe Steel Ltd, Man Diesel & Turbo, Mitsubishi Heavy Industries Ltd, Siemens AG, Sullivan-Palatek, Inc. and Sundyne Corporation.
Key Developments:
In June 2024, Mitsubishi Heavy Industries, Ltd. (MHI) and Thailand's largest power producer Electricity Generating Authority of Thailand (EGAT) have signed a Memorandum of Understanding (MoU) to conduct research on the introduction of hydrogen co-firing technologies for gas turbine power generation facilities.
In December 2023, Atlas Copco has made history by launching the B-Air, the first portable screw air compressor that runs on batteries. This was a major step towards carbon-free industries, and this new concept will allow the company to offer more electric products. Its features include a 55-kWh battery, a 5.4–3.7 cu m per min stable flow rate, and a 5-12 bar pressure range.
Types Covered:
• Axial Turbocompressors
• Centrifugal Turbocompressors
• Hydraulic Turbocompressors
Stages Covered:
• Single Stage
• Multi-Stage
Output Pressures Covered:
• 0 Bar–20 Bar
• 21 Bar–100 Bar
• Above 100 Bar
Sales Channels Covered:
• Distributor
• Direct Sales
Applications Covered:
• Pulp & Paper
• Textile
• Trains, Ships & Airplanes
• Water & Wastewater
• Metals
End Users Covered:
• Automotive
• Chemical
• Mining
• Offshore
• Oil & Gas
• Pharmaceuticals
• Power Generation
• Agricultural
• Industrial
• Transportation
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 Application 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 Turbocompressor Market, By Type
5.1 Introduction
5.2 Axial Turbocompressors
5.3 Centrifugal Turbocompressors
5.4 Hydraulic Turbocompressors
6 Global Turbocompressor Market, By Stage
6.1 Introduction
6.2 Single Stage
6.3 Multi-Stage
7 Global Turbocompressor Market, By Output Pressure
7.1 Introduction
7.2 0 Bar–20 Bar
7.3 21 Bar–100 Bar
7.4 Above 100 Bar
8 Global Turbocompressor Market, By Sales Channel
8.1 Introduction
8.2 Distributor
8.3 Direct Sales
9 Global Turbocompressor Market, By Application
9.1 Introduction
9.2 Pulp & Paper
9.3 Textile
9.4 Trains, Ships & Airplanes
9.5 Water & Wastewater
9.6 Metals
10 Global Turbocompressor Market, By End User
10.1 Introduction
10.2 Automotive
10.3 Chemical
10.4 Mining
10.5 Offshore
10.6 Oil & Gas
10.7 Pharmaceuticals
10.8 Power Generation
10.9 Agricultural
10.10 Industrial
10.11 Transportation
11 Global Turbocompressor Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Atlas Copco AB
13.2 Bauer Compressors, Inc.
13.3 Elliot Group Ltd
13.4 Gardner Denver, Inc.
13.5 GE Oil & Gas
13.6 Howden Group Ltd
13.7 Kawasaki Heavy Industries
13.8 Kobe Steel Ltd
13.9 Man Diesel & Turbo
13.10 Mitsubishi Heavy Industries Ltd
13.11 Siemens AG
13.12 Sullivan-Palatek, Inc.
13.13 Sundyne Corporation
List of Tables
1 Global Turbocompressor Market Outlook, By Region (2022-2030) ($MN)
2 Global Turbocompressor Market Outlook, By Type (2022-2030) ($MN)
3 Global Turbocompressor Market Outlook, By Axial Turbocompressors (2022-2030) ($MN)
4 Global Turbocompressor Market Outlook, By Centrifugal Turbocompressors (2022-2030) ($MN)
5 Global Turbocompressor Market Outlook, By Hydraulic Turbocompressors (2022-2030) ($MN)
6 Global Turbocompressor Market Outlook, By Stage (2022-2030) ($MN)
7 Global Turbocompressor Market Outlook, By Single Stage (2022-2030) ($MN)
8 Global Turbocompressor Market Outlook, By Multi-Stage (2022-2030) ($MN)
9 Global Turbocompressor Market Outlook, By Output Pressure (2022-2030) ($MN)
10 Global Turbocompressor Market Outlook, By 0 Bar–20 Bar (2022-2030) ($MN)
11 Global Turbocompressor Market Outlook, By 21 Bar–100 Bar (2022-2030) ($MN)
12 Global Turbocompressor Market Outlook, By Above 100 Bar (2022-2030) ($MN)
13 Global Turbocompressor Market Outlook, By Sales Channel (2022-2030) ($MN)
14 Global Turbocompressor Market Outlook, By Distributor (2022-2030) ($MN)
15 Global Turbocompressor Market Outlook, By Direct Sales (2022-2030) ($MN)
16 Global Turbocompressor Market Outlook, By Application (2022-2030) ($MN)
17 Global Turbocompressor Market Outlook, By Pulp & Paper (2022-2030) ($MN)
18 Global Turbocompressor Market Outlook, By Textile (2022-2030) ($MN)
19 Global Turbocompressor Market Outlook, By Trains, Ships & Airplanes (2022-2030) ($MN)
20 Global Turbocompressor Market Outlook, By Water & Wastewater (2022-2030) ($MN)
21 Global Turbocompressor Market Outlook, By Metals (2022-2030) ($MN)
22 Global Turbocompressor Market Outlook, By End User (2022-2030) ($MN)
23 Global Turbocompressor Market Outlook, By Automotive (2022-2030) ($MN)
24 Global Turbocompressor Market Outlook, By Chemical (2022-2030) ($MN)
25 Global Turbocompressor Market Outlook, By Mining (2022-2030) ($MN)
26 Global Turbocompressor Market Outlook, By Offshore (2022-2030) ($MN)
27 Global Turbocompressor Market Outlook, By Oil & Gas (2022-2030) ($MN)
28 Global Turbocompressor Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
29 Global Turbocompressor Market Outlook, By Power Generation (2022-2030) ($MN)
30 Global Turbocompressor Market Outlook, By Agricultural (2022-2030) ($MN)
31 Global Turbocompressor Market Outlook, By Industrial (2022-2030) ($MN)
32 Global Turbocompressor Market Outlook, By Transportation (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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