Market Overview:
The global centrifugal compressors market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for centrifugal compressors in various applications, such as petrochemical industry, industrial manufacturing, transportation and others. Additionally, the growing demand for energy-efficient and reliable centrifugal compressors is also contributing to the growth of this market.
Product Definition:
A centrifugal compressor is a device that increases the pressure of a fluid by imparting kinetic energy to the fluid. Centrifugal compressors are used in many applications, including air conditioning, refrigeration, and industrial processes.
Single Stage Centrifugal Compressors:
Single-stage centrifugal compressors are used in numerous applications including gas turbine, power generation industries and oil & gas industry. These compressors are widely used as they offer several benefits over reciprocating type such as less operating noise, low maintenance cost and high flow rate.
The growth factor for single stage centrifugal compressor is due to its advantages over multi-stage ones which have higher speed of operation at lower loads making it a preferred choice among the consumers across the globe.
Multi-stage Centrifugal Compressors:
Multi-stage centrifugal compressors are used in the oil & gas industry to provide high-pressure ranges of up to 300 bar. These multi-stage centrifugal compressors can be used with both oil and gas, hence they are also known as combined cycle equipment. Multi stage centrifugal compressor is made up of various components including impeller, case, rotor hub, main shafts and bearings among others.
Application Insights:
The industrial manufacturing segment led the global centrifugal compressors market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for chemicals, pharmaceuticals, fertilizers and other commodities produced by various industries across the globe.
Petrochemical industry is one of the prominent users of centrifugal compressors as they are used for processing such as crude oil into petroleum products like gasoline & diesel along with other chemical products like urea-based plastics, synthetic rubber and pesticides among others. Centrifugal compressors are widely used in petrochemical plants on account centage to their ability to reduce energy consumption by 30%.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region, owing to the increasing demand for centrifugal compressors in industrial manufacturing and petrochemical industries. The presence of numerous oil & gas producing countries such as India, China, Indonesia and Malaysia is anticipated to boost market growth over the forecast period.
The growing chemical industry in China on account of rapid urbanization coupled with rising domestic consumption due to increased income levels will drive product demand over the next eight years.
Growth Factors:
- Increasing demand for centrifugal compressors in the oil and gas industry as a result of increasing exploration and production activities
- Rising demand from the chemical processing industry due to growth in end-user industries such as pharmaceuticals, agrochemicals, and food & beverages
- Growing popularity of centrifugal compressors in refrigeration applications due to their high efficiency and low noise levels
- Increasing adoption of centrifugal compressors in power generation applications due to their ability to handle high pressure differentials
- Technological advancements that have led to the development of more efficient and compact centrifugal compressor designs
Scope Of The Report
Report Attributes
Report Details
Report Title
Centrifugal Compressors Market Research Report
By Type
Single Stage Centrifugal Compressors, Multi-stage Centrifugal Compressors
By Application
Petrochemical Industry, Industrial Manufacturing, Transportation, Others
By Companies
Atlas Copco, Elliott, Ingersoll Rand, Siemens, GE Oil & Gas, MAN Diesel & Turbo, Gardner Denver, Kobelco, MHI, Hitachi, Hanwha Techwin, Kawasaki, IHI, Fusheng, Sullair
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
149
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Centrifugal Compressors Market Report Segments:
The global Centrifugal Compressors market is segmented on the basis of:
Types
Single Stage Centrifugal Compressors, Multi-stage Centrifugal Compressors
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Petrochemical Industry, Industrial Manufacturing, Transportation, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Atlas Copco
- Elliott
- Ingersoll Rand
- Siemens
- GE Oil & Gas
- MAN Diesel & Turbo
- Gardner Denver
- Kobelco
- MHI
- Hitachi
- Hanwha Techwin
- Kawasaki
- IHI
- Fusheng
- Sullair
Highlights of The Centrifugal Compressors Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Stage Centrifugal Compressors
- Multi-stage Centrifugal Compressors
- By Application:
- Petrochemical Industry
- Industrial Manufacturing
- Transportation
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Centrifugal Compressors Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Centrifugal compressors are machines that use centrifugal force to reduce the size of objects. Centrifugal compressors can be used in a variety of industries, including manufacturing, mining, and oil and gas production.
Some of the major companies in the centrifugal compressors market are Atlas Copco, Elliott, Ingersoll Rand, Siemens, GE Oil & Gas, MAN Diesel & Turbo, Gardner Denver, Kobelco, MHI, Hitachi, Hanwha Techwin, Kawasaki, IHI, Fusheng, Sullair.
The centrifugal compressors market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Centrifugal Compressors Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Centrifugal Compressors Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Centrifugal Compressors Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Centrifugal Compressors Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Centrifugal Compressors Market Size & Forecast, 2020-2028
4.5.1 Centrifugal Compressors Market Size and Y-o-Y Growth
4.5.2 Centrifugal Compressors Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Single Stage Centrifugal Compressors
5.2.2 Multi-stage Centrifugal Compressors
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Petrochemical Industry
6.2.2 Industrial Manufacturing
6.2.3 Transportation
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Centrifugal Compressors Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Centrifugal Compressors Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Single Stage Centrifugal Compressors
9.6.2 Multi-stage Centrifugal Compressors
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Petrochemical Industry
9.10.2 Industrial Manufacturing
9.10.3 Transportation
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Single Stage Centrifugal Compressors
10.6.2 Multi-stage Centrifugal Compressors
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Petrochemical Industry
10.10.2 Industrial Manufacturing
10.10.3 Transportation
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Single Stage Centrifugal Compressors
11.6.2 Multi-stage Centrifugal Compressors
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Petrochemical Industry
11.10.2 Industrial Manufacturing
11.10.3 Transportation
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Single Stage Centrifugal Compressors
12.6.2 Multi-stage Centrifugal Compressors
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Petrochemical Industry
12.10.2 Industrial Manufacturing
12.10.3 Transportation
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Single Stage Centrifugal Compressors
13.6.2 Multi-stage Centrifugal Compressors
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Petrochemical Industry
13.10.2 Industrial Manufacturing
13.10.3 Transportation
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Centrifugal Compressors Market: Competitive Dashboard
14.2 Global Centrifugal Compressors Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Atlas Copco
14.3.2 Elliott
14.3.3 Ingersoll Rand
14.3.4 Siemens
14.3.5 GE Oil & Gas
14.3.6 MAN Diesel & Turbo
14.3.7 Gardner Denver
14.3.8 Kobelco
14.3.9 MHI
14.3.10 Hitachi
14.3.11 Hanwha Techwin
14.3.12 Kawasaki
14.3.13 IHI
14.3.14 Fusheng
14.3.15 Sullair
