Global Reciprocating Compressor Market to outgrow USD 8,580 Million by the end of 2024
Posted On October 16, 2018
Value Market Research has recently added a new market study based on the Global Reciprocating Compressor Market. As per the study the global reciprocating compressor market was valued USD 6,015.7 Million (by revenue) in 2017 and is estimated to reach USD 8,580 Million by 2024 with a CAGR of 5.2% between 2018 and 2024. The market forecast is based on secondary and primary data collected and evaluated through industry experts. The market players are profiled to cover the current trends and latest movements in the market.
A reciprocating compressor is also known as a piston compressor that utilizes a piston to compress a gas and deliver it at high pressure. They are among some of the most critical and expensive machines at a production facility and needs special consideration. The end-use industry like petrochemical plants, gas transmission pipelines, refineries and many other industries are depended on this type of equipment for the production process.
The report "Global Reciprocating Compressor Market Report By Product Type (Vertical, Horizontal, Angular), Application (Refinery, Industrial Gases, LNG and CNG Transport and Storage, Ethylene and LDPE Plants, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2017-2024"addresses the most-detailed segmentation on the global as well as regional level. The report segments the market on the basis of product type, application and region.
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As per the report the growth of the market can be attributed to the growing demand from the refinery and LNG & CNG transport & storage plants. Further, the excellent features offered by reciprocating compressors such as high efficiency and their ability to produce both high pressure and power is again raising their demand across various end-use industries. Also, growing steel and iron industry in emerging economies are projected to offer immense growth to the market.
The report segments the Product type into vertical, horizontal, angular.Among which, vertical type is leading the segment since they are highly reliable and are ideal for continuous duty operation, they are gaining hype across the various manufacturing sector. By application, the market is bifurcated into refinery, industrial gases, LNG and CNG transport and storage, ethylene and LDPE plants, others. The industrial sector is dominating the segment owing to the growing demand from steel and iron industry.
The market of the reciprocating compressor is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. From the geographical perspective, Asia-Pacific is dominating the global reciprocating compressor market owing to the ongoing industrialization along with the rise in other manufacturing sectors. Also, major players are mostly adopting smart strategies such as partnership, merger, and acquisitions to expand their presence will definitely offer new opportunity growth to the market.
The Report Segments Global Reciprocating Compressor Market -
By Product Type
- Industrial Gases
- LNG and CNG Transport and Storage
- Ethylene and LDPE Plants
- North America
- Latin America
- Middle East & Africa
Ariel Corp., Fusheng, Atlas Copco, Corken, Gardner Denver, Burckhardt Compression, General Electric, Hitachi, and Others.
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