Global Reciprocating Compressor Market

Global Reciprocating Compressor Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at XX % through 2020 to 2027, reaching US$ 6.4 Bn.  Global Reciprocating Compressor Market The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis. A reciprocating compressor is a positive displacement compressor, which pulls gas into a chamber and then compresses it by declining the area of the chamber. Reciprocating compressors are used widely in the making of chemicals and petroleum, comprising natural gas compression and gas transportation.
Market Dynamics: The report analyzes factors affecting the reciprocating compressor market from both demand and supply side and further evaluates market dynamics affecting the market during 2020-2027 such as drivers, restraints, opportunities, and future trend. The major factor that has been improving the acceptance of reciprocating compressors is their use in catering to demand production of gases in various industries. Such as, oxygen is important for blast furnace operations in the iron and steel industry. While, for steel manufacturing, hydrogen is important.
Thus, there has been a growing demand for reciprocating compressors to cater to these gas demands. High demand for the rental service of piston air compressor is a key factor hampering the sale of the product. Many medium and small-scale companies, which do not need compressed air regularly, opt for renting rather than buying the piston air compressor. This is thanks to the excessive purchasing and maintenance costs related to the product. Renting the product also gives the consumers increased flexibility toward different compressor requirements. This will impede the new product sales as most end-users prefer cost-efficient rental service, thus hindering the global reciprocating compressor market growth in future.
Market Segmentation: The report covers the segments in the Reciprocating Compressor market such as applications and component. By application, LNG and CNG transport and storage segment is expected to account for the largest XX% market share by 2027. Growing demand from the refinery and LNG & CNG transport & storage plants in developing countries. Further market growth can be attributed to major features associated with the reciprocating compressor like high efficiency and their ability to produce both high pressure and power.
Regional Analysis: The Asia-Pacific reciprocating compressor market was valued at US$ XX Mn in 2019 and is expected to reach a value of US$ XX Mn by 2027, with a CAGR of XX% during the forecast period. Significant growth in the APAC automotive industry will spur the reciprocating air compressor market as it is an indispensable part of every automobile. The APAC has been a significant automotive market with high production as well as sales volume. Positive GDP growth and an upsurge in living standards of the population along with the incessantly growing urban population in Asian economies will propel piston air compressor demand in the automotive industry.
Country-wise Analysis: Asian economies such as India, Japan, South Korea and China, accounted for around 40% of the entire automotive sales in 2015, including both commercial and personal vehicles. This upstream trend of the automotive sector will further boost the global market for reciprocating air compressor market during the forecast period.
Competitive Landscape: In recent years, major players in the reciprocating compressor market have taken several strategic measures, such as facility expansions and partnerships. Such as, in April 2019, Burckhardt Compression AG, a manufacturer of reciprocating compressors, introduced Laby compressors for LNG carriers with X-DF propulsion system. This is expected to boost the reciprocating compressor market in future. The objective of the report is to present a comprehensive analysis of the Global Reciprocating Compressor Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Reciprocating Compressor Market dynamics, structure by analyzing the market segments and projects the Global Reciprocating Compressor Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Reciprocating Compressor Market make the report investor’s guide.

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Scope of the Global Reciprocating Compressor Market

Global Reciprocating Compressor Market, By Component

• Product o Compressors o Industrial Process Gas Reciprocating Compressors o Labyrinth Piston Compressors o Liquefied Natural Gas (LNG) Reciprocating Compressors o Oil-free Reciprocating Compressors o Hyper Compressors o Parts & Accessories • Services o Repair & Maintenance Services o Installation & Configuration Services o Training Services o Optimization Services

Global Reciprocating Compressor Market, By Application

• Refinery • Industrial Gases • LNG and CNG Transport and Storage • Ethylene and LDPE Plants • Others

Global Reciprocating Compressor Market, By Region

• Asia Pacific • North America • Europe • Latin America • Middle East Africa

Key players operating in Global Reciprocating Compressor Market

• Ariel • Siemens • GE • Atlas Copco • Burckhardt Compression • Howden • Kobelco • Shenyang Yuanda • Hitachi • Neuman & Esser • Gardner Denver • Sundyne • Shenyang Blower • Corken • Samsung Techwin

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