A recent report published by Infinium Global Research on the reciprocating compressors market provides an in-depth analysis of segments and sub-segments in the global as well as regional reciprocating compressors market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional reciprocating compressors market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global reciprocating compressors market. According to the report, the global reciprocating compressors market is projected to grow at a CAGR of 2.9% over the forecast period of 2020-2026.
Reciprocating compressors are also known as piston compressors. They are generally used to move gas at increased pressure. The main elements of the compressor are cylinders and pistons which move within them. These compressors are regarded as the most energy-efficient type of compressor for most applications other than those involving small amounts of gas. Reciprocating compressors have used in industry, including natural gas processing and delivery, chemical plants, and oil refineries.
Growing demand for reciprocating compressors from several end-use industries is driving the growth of the reciprocating compressors market. The end-user industries, for reciprocating compressors, include chemical plants, natural gas processing, and oil refineries. Again a number of compressed air applications use reciprocating compressors, in automotive workshops, dental surgeries, and agriculture. However, reciprocating compressors have a higher maintenance requirement than some other compressor types, hence, expense calculations need to balance energy against maintenance costs. Moreover, technological innovation for efficient and cost-effective reciprocator compressors provides a lucrative growth opportunity for the Reciprocating compressors market.
North America holds a significant market share in the Reciprocating compressors industry owing to the rapidly growing oil and natural gas exploration and production industry. This provides a growing demand for the Reciprocating compressors market in North America. The Advancement in compression technology helped the U.S. gas industry to expand. These compressors are a critical element of the U.S. pipeline’s compression mix. The ARCT program could compel the U.S. pipeline industry for the great benefits of reciprocating compression with less compromise. Furthermore, Asia Pacific is projected to grow with a prominent CAGR during the forecast period due to the growing demand for petrochemical products such as ethylene derivatives, propylene derivatives, and aromatic products in the region. Additionally, increasing environmental consciousness and initiatives of the Chinese government have led to stricter regulations to improve air quality. This further contributed to the growth of the market in the Asia Pacific region.
The report on the global reciprocating compressors market covers segments such as type, product, service, and industry. On the basis of type, the sub-markets include single acting compressor, double acting compressor. On the basis of product, the sub-markets include industrial process gas reciprocating compressors, oil-free reciprocating compressors, and hyper compressors. On the basis of service, the sub-markets include repair maintenance services, installation & configuration services, and others. On the basis of industry, the sub-markets include oil and gas, chemical petrochemical, pharmaceutical, food & beverages, power generation, metal processing, and others.
The report provides profiles of the companies in the market such as Atlas Copco, Burckhardt Compression AG Siemens AG, GE Company, IHI Corporation, Ltd., Mitsui E&S Holdings Co., Ltd., The Japan Steel Works, LTD., Kaeser Kompressoren Co., Ltd., Mayekawa Mfg. Co., LTD, and Mikuni Kikai Kogyo Co., LTD.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the reciprocating compressors market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.