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Compressor Market Size (2024 - 2029)

The compressor market is projected to experience growth over the forecast period, driven by the increasing demand for natural gas and the expansion of gas pipeline networks. Despite the potential challenges posed by the rise in solar and wind power installations, which may reduce reliance on fossil fuels, the market is expected to benefit from advancements in energy-efficient compressor technologies. The Asia-Pacific region, particularly China and India, is anticipated to lead in market growth due to their expanding natural gas infrastructure.

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Market Size of Compressor Industry

Compressor Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 42.04 Billion
Market Size (2029) USD 53.16 Billion
CAGR (2024 - 2029) 4.81 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Compressor Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compressor Market Analysis

The Compressor Market size is estimated at USD 42.04 billion in 2024, and is expected to reach USD 53.16 billion by 2029, growing at a CAGR of 4.81% during the forecast period (2024-2029).

  • Over the medium term, factors such as growing demand for natural gas, which, in turn, is leading to a growing gas pipeline network, are expected to be one of the most significant drivers for the compressor market.
  • On the other hand, increasing solar and wind power installation is expected to decrease the countries' dependency on fossil fuel-fired power generation, such as coal and natural gas. This poses a threat to the compressor market during the forecast period.
  • Nevertheless, several compressor manufacturers are making strides to develop more energy-efficient products amid rising end-user demands and changing energy efficiency standards. This factor is expected to create several opportunities for the market in the future.
  • The Asia-Pacific region dominates the market and will likely register the highest CAGR during the forecast period. China and India drive it due to these countries' growing natural gas infrastructure.

Compressor Industry Segmentation

In a compressor, the volume of a substance (usually a gas) is reduced to increase the pressure. Compressors are used in many applications that involve increasing the pressure within the gas storage container, such as in petroleum refineries and chemical plants where gases are compressed.

The compressor market is segmented by type, end-user, and geography. By type, the market is segmented into positive displacement and dynamic. By end-user, the market is segmented into the oil and gas industry, power sector, manufacturing sector, chemicals and petrochemical industry, and other end users. The report also covers the size and forecasts for the compressor market across major regions. The market sizing and forecasts are provided for each segment based on revenue (USD).

By End-User
Oil and Gas Industry
Power Sector
Manufacturing Sector
Chemicals and Petrochemical Industry
Other End-Users
By Type
Positive Displacement
Dynamic
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
France
United Kingdom
Spain
Norway
Turkey
Russia
NORDIC
Rest of Europe
Asia-Pacific
China
India
Malaysia
Thailand
Australia
Indonesia
Vietnam 
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Nigeria
Qatar 
Egypt 
Rest of Middle East and Africa
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Compressor Market Size Summary

The compressor market is poised for significant growth over the forecast period, driven by the increasing demand for natural gas and the expansion of gas pipeline networks. This growth is particularly pronounced in the Asia-Pacific region, where countries like China and India are enhancing their natural gas infrastructure. The market is characterized by the widespread use of positive displacement and dynamic compressors in the oil and gas industry, which are essential for gas transportation, compression, and injection processes. Despite the potential challenges posed by the shift towards renewable energy sources, such as solar and wind power, the development of energy-efficient compressor products presents new opportunities for manufacturers to meet evolving energy standards and consumer demands.

The Asia-Pacific region is expected to dominate the compressor market, supported by rising energy consumption and urbanization, which drive increased natural gas use in manufacturing, power generation, and residential sectors. The region's refinery sector has also seen substantial growth, further boosting the demand for compressors. Investments in the petrochemical industry, particularly in India, are anticipated to contribute to the rising demand for compressors. Key players in the fragmented market, including Atlas Copco AB, Baker Hughes Co., Ingersoll-Rand Inc., Siemens Energy AG, and Sulzer Ltd, are actively engaging in strategic partnerships and infrastructure projects to capitalize on these growth opportunities.

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Compressor Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Market Drivers

        1. 1.5.1.1 The Growing Demand for Natural Gas

        2. 1.5.1.2 Rising Pipeline Infrastructure across Globe

      2. 1.5.2 Market Restraints

        1. 1.5.2.1 Increasing Adoption of Solar and Wind Energies

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End-User

      1. 2.1.1 Oil and Gas Industry

      2. 2.1.2 Power Sector

      3. 2.1.3 Manufacturing Sector

      4. 2.1.4 Chemicals and Petrochemical Industry

      5. 2.1.5 Other End-Users

    2. 2.2 By Type

      1. 2.2.1 Positive Displacement

      2. 2.2.2 Dynamic

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 France

        3. 2.3.2.3 United Kingdom

        4. 2.3.2.4 Spain

        5. 2.3.2.5 Norway

        6. 2.3.2.6 Turkey

        7. 2.3.2.7 Russia

        8. 2.3.2.8 NORDIC

        9. 2.3.2.9 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Malaysia

        4. 2.3.3.4 Thailand

        5. 2.3.3.5 Australia

        6. 2.3.3.6 Indonesia

        7. 2.3.3.7 Vietnam 

        8. 2.3.3.8 Rest of Asia Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 South Africa

        4. 2.3.5.4 Nigeria

        5. 2.3.5.5 Qatar 

        6. 2.3.5.6 Egypt 

        7. 2.3.5.7 Rest of Middle East and Africa

Compressor Market Size FAQs

The Compressor Market size is expected to reach USD 42.04 billion in 2024 and grow at a CAGR of 4.81% to reach USD 53.16 billion by 2029.

In 2024, the Compressor Market size is expected to reach USD 42.04 billion.

Compressor Market Report Snapshots

Compressor Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)