a recent market intelligence report that is published by data insights partner on centrifugal compressor market makes an offering of in-depth analysis of segments and sub-segments in the regional and international market. The research study also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and world centrifugal compressor market over the short as well as long period of time. a detailed presentation of forecast, trends, and dollar values of international centrifugal compressor market is offered.
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In accordance with the report, the centrifugal compressor Market is projected to expand at a CAGR of X.X% over the period of forecast.Â The global centrifugal compressor market was valued at USD XX.X Mn in 2019 and is expected to reach USD XX.X Mn in 2031, growing with a significant CAGR rate during the forecast period. The market is driven by the rising demand for centrifugal compressors in the petrochemical industry due to their advantages such as smooth operation, large tolerance of process fluctuations, and their higher reliability in comparison to the other types of compressors. The centrifugal compressors are an ideal choice in comparison to the reciprocating compressors due to the lower initial costs, lower maintenance costs of centrifugal compressors. The centrifugal compressors are easily automated for remote operations, easily skid-mounted, and self-contained. Increasing adoption of air compressors in industries, growing demand for automobiles are factors considered to drive the product demand. The predicted growth in the adoption of additional oil and gas projects in the coming years, as well as the growing demand to develop natural gas pipeline infrastructure, are two major factors are also expected to boost the market demand during the forecast period. The falling cost of renewable energy generation and increased investments in it are stifling demand for natural gas-fired power generating, which has a negative influence on demand for centrifugal compressors in the power generation industry. Increasing investments and reducing costs in renewable power generation are affecting the natural gas power generation market directly impacting the demand for the centrifugal compressor in the power generation industry. In October 2018, ATLAS Copco had launched the ZH 1000-3150 oil-free centrifugal air compressor 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 compressor provides the optimum combination of high flow and low energy consumption. It is an all-in-one oil-free air compressor with all the elements including the internal piping, coolers, motor, lubrication, inlet guide vanes, and control system are supplied in a standard package in a built-to-last design. Asia-Pacific dominated the global centrifugal compressors market and expected to grow at the highest CAGR during the forecasted period as there is the high growth of the oil& gas and power industries. Additionally, Asia Pacific centrifugal air compressor market size is predicted to reach XX.X billion by 2031. Major countries including China has maintained its leading position in the semiconductor production with a 50% share in the global production value for the last five years. China, Japan and South Korea hold a strong foothold in semiconductor & electronics manufacturing. Likewise, Taiwan reported a XX.X% share in the global IC wafer fab production capacity in 2020. Such trends showcase that the region has already established its dominance in the semiconductor & electronics manufacturing worldwide, that further strengthens its position in the global centrifugal air compressor industry. Â Â
To compile the detailed study of the global centrifugal compressor market, a robust research methodology has been adopted that aids in determining the key insights and also evaluates the growth prospects of the centrifugal compressor Market. Comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Our research methodology implements a mix of primary as well as secondary research. Our projects are initiated with secondary research, where we refer to a variety of sources including trade databases; government published documents, investor presentations, company annual reports, Industrial papers, and paid databases. To carry out secondary research, the analysts have collected the information through company annual reports, journals, company press releases, and paid databases that were referred to gain and identify better opportunities in the centrifugal compressor Market.
COVID-19 Scenario Analysis:
The COVID-19 outbreak has shaken the whole economy in the world. In this scenario some industries are doing quite well while others have been crushed. This section of the report has explored the overall status of the COVID-19 scenario. The industry witnessed a huge decline in terms of sales. Likewise, the centrifugal compressor market was affected negatively due to the shutdown of manufacturing/processing facilities for some time. The analysts have also focused on the key measures that the companies are opting to withstand the harsh scenario.
Centrifugal compressor market report has been segmented by product type, by casting, by technology and by application, also includes the market size and forecast for all these segments. Compounded annual growth rates for all segments have also been provided for 2019 to 2031. This report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
Centrifugal compressor Market research report includes an in-depth coverage of the industry with estimates & forecast from 2022 to 2031, for the following segments:
Centrifugal Compressor Market, By Product Type, 2022-2031 (USD Million)
Centrifugal Compressor Market, By Casting, 2022-2031 (USD Million)
Centrifugal Compressor Market, By Technology, 2022-2031 (USD Million)
Centrifugal Compressor Market, By Technology, 2022-2031 (USD Million)
Oil And Gas
oÂ Â Upstream
oÂ Â Midstream
oÂ Â Downstream
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To enhance their position in the global market, key suppliers/manufacturers are concentrating on business expansion and product innovation. Manufacturers/producers are also working on boosting their manufacturing capacity and product quality to gain a competitive advantage. The following are some of the prominent manufacturers in the worldwide centrifugal compressor market:
Air Products and Chemicals Inc.
Baker Hughes Company
Dresser-Rand Group Inc.
Gardner Denver Holdings Inc.
Ingersoll Rand Inc.
Kobe Steel Ltd
MAN Energy Solutions
Mitsubishi Heavy Industries Compressor Corporation
Shenyang Blower Works Group Corporation.
Xi’an Shaanxi Drum Power Co. Ltd
Zhejiang Kaishan Compressor Co. Ltd
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