Gas Compressors Market - Segmented by Type, End-user, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Gas Compressors Market - Segmented by Type, End-user, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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Gas Compressors Market

The global demand for natural gas is expected to increase by 1.6% per year for the next five years, with consumption reaching almost 4000 billion cubic meters (bcm) by 2022, up from 3630 bcm in 2016. Factors such as the increased use of natural gas across industries such as the chemical, fertilizers, petrochemicals coupled with the increasing trend of replacement of coal with gas for power generation across the developing and developed nations has supplemented the demand for natural gas across the globe. Furthermore, increased consumption of natural gas has supplemented the demand for midstream infrastructure such as LNG liquefaction and regasification terminals, underground gas storage, and associated pipeline across the globe. The usage of high capacity gas compressors is expected to witness a significant growth with the increase of associated natural gas based infrastructure, in a bid to maintain pressure loss and to ensure sufficient transportation of natural gas.

Growing Demand from Power Industry to Drive the Gas Compressors Market

The global investments for natural gas-based power generation witnessed a constant increase in the past decade, driven by environmental policies and energy diversification efforts. Moreover, the US shale revolution has opened up vast reserves of natural gas for consumption, which blends perfectly with the nation’s ambition of power generation from environment friendly fuel. The country has been systematically moving towards gas-based power generation. In 2016, 42% of the operating electricity generating capacity in the United States was accounted by the natural gas-fired generator. Furthermore, an additional 11.2 gigawatts (GW) and 25.4 GW of natural gas-fired generating capacity is scheduled for commissioning in 2017 and 2018, respectively, which is expected to increase demand for gas compressors. Similarly, the phasing out of nuclear power in the European region is also expected to result in increased natural gas consumption in the region, during the forecast period, which in turn, is expected to further supplement the demand for associated infrastructure such as inter-country gas pipelines. Furthermore, developing countries, such as China is gradually moving away from coal-based power generation to gas-based power generation, which, in turn, is expected to supplement the demand for gas compressors during the forecast period.

North America to Witness High Growth Rate

The past three years were challenging for the global oil & gas industry, which recorded a 25% and 26% decline in upstream investment in 2015 and 2016, respectively. However, in 2017, owing to the higher investment in North America unconventional reserves, mainly from the US shale region, the global oil & gas industry saw a significant gain of investment. Moreover, the oil & gas operators in North America are planning to further speed up investments for the recovery of unconventional reserves such as shale and oil sands as oil prices picks up, which, in turn, is expected to supplement the demand for associated infrastructure, such as pipelines and LNG liquefaction terminals in the North American region. Furthermore, countries, such as the United States is aggressively moving away from coal-based power generation to gas-based power generation, which is also expected to supplement the demand for gas compressors in the North America region.

                                                Upstream Investment

India Set to Witness High Demand

India’s energy consumption is expected to register an annual growth rate of 4.2%, faster than all other major economies in the world. India's share of global energy demand is expected to rise to 11% in 2040 from merely 5% in 2016, with natural gas playing a major role across all fuel types. The government plans to boost the share of natural gas in the country’s primary energy mix to 15% by 2030, up from 6.5% in 2017. Moreover, as part of its energy diversification strategy, the government is actively promoting natural gas-based power generation, along with the development of the oil & gas infrastructure, such as LNG regasification terminals and pipelines. Similarly, the use of natural gas across industries, such as chemical and fertilizers are also increasing, which, in turn, is expected to supplement the demand for gas compressors in India during the forecast period.

Key Developments in the Gas Compressors Market

  • March 2018: Wah Seong Corporation has secured a USD 34.56 million contract for the design and sale of gas compressor packages, and associated plant and site facilities in Iraq
  • March 2018: INSPET Ploiesti-led consortium has secured a contract from Transgaz for the construction of the Podisor, Bibesti and Jupa natural gas compressor stations associated with the first phase of the Bulgaria-Romania-Hungary-Austria (BRUA) pipeline

The major players include - Atlas Copco AB, General Electric Company, Ingersoll-Rand PLC, Siemens AG, Sulzer AG, Kobe Steel, Ltd., Ariel Corporation, BAUER Compressors, Inc., Burckhardt Compression Holding AG, Ebara Corporation, Gardner Denver Holdings Inc, among others.

Reasons to Purchase Gas Compressors Market Report

  • Current and future gas compressors market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of Gas Compressors Market Report

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1. Executive Summary                                  

2. Research Methodology                                           

                2.1 Scope of the Gas Compressors Market  Report               

                2.2 Gas Compressors Market Definition                    

                2.3 Study Assumptions of Gas Compressors Market                  

                2.4 Study Deliverables of Gas Compressors Market                  

                2.5 Research Phases                      

3. Market Overview                                       

                3.1 Introduction                               

                3.2 Market Size and Demand Forecast until 2023                              

                3.3 Natural Gas Consumption Forecast until 2023                             

                3.4 Import-export Analysis                         

                3.5 Recent Trends and Developments                   

                3.6 Government Policies & Regulations                 

                3.7 Investment Opportunities                   

4. Market Dynamics                                       

                4.1 Gas Compressors Market Drivers                          

                4.2 Gas Compressors Market Restraints                    

                4.3 Gas Compressors Market Opportunities                            

5. Value Chain Analysis                                 

6. Industry Attractiveness – Porter’s Five Forces Analysis                                             

                6.1 Bargaining Power of Suppliers                            

                6.2 Bargaining Power of Consumers                       

                6.3 Threat of New Entrants                         

                6.4 Threat of Substitute Products and Services                  

                6.5 Intensity of Competitive Rivalry                        

7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)                                              

                7.1 Gas Compressors Market By Type                        

                                7.1.1 Dynamic Compressors       

                                                7.1.1.1 Centrifugal

                                                7.1.1.2 Axial

                                7.1.2 Positive Displacement Compressors            

                                                7.1.2.1 Reciprocating

                                                7.1.2.2 Rotary

                7.2 Gas Compressors Market By End-user                

                                7.2.1 Oil & Gas  

                                7.2.2 Power Generation               

                                7.2.3 Others      

8. Gas Compressors Market Regional Analysis (Overview, Market Size, and Demand Forecast until 2023)                                  

                8.1 North America                          

                                8.1.1 United States         

                                8.1.2 Canada     

                                8.1.3 Rest of North America       

                8.2 Asia-Pacific                 

                                8.2.1 China         

                                8.2.2 India          

                                8.2.3 Australia   

                                8.2.4 Rest of Asia-Pacific              

                8.3 Europe                         

                                8.3.1 United Kingdom   

                                8.3.2 Germany 

                                8.3.3 France       

                                8.3.4 Russia        

                                8.3.5 Rest of Europe      

                8.4 South America                          

                                8.4.1 Brazil          

                                8.4.2 Argentina

                                8.4.3 Venezuela               

                                8.4.4 Rest of South America       

                8.5 Middle East & Africa               

                                8.5.1 United Arab Emirates         

                                8.5.2 Qatar         

                                8.5.3 Iran            

                                8.5.4 Nigeria      

                                8.5.5 Egypt         

                                8.5.6 Rest of Middle East & Africa            

9. Gas Compressors Market Key Company Analysis* (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)                                               

                9.1 Atlas Copco AB                          

                9.2 General Electric Company                    

                9.3 Ingersoll-Rand PLC                  

                9.4 Siemens AG               

                9.5 Sulzer AG                    

                9.6 Kobe Steel, Ltd.                        

                9.7 Ariel Corporation                     

                9.8 BAUER Compressors, Inc.                     

                9.9 Burckhardt Compression Holding AG                              

                9.10 Ebara Corporation                 

                9.11 Gardner Denver Holdings Inc                           

                *List not Exhaustive                                       

10. Competitive Landscape of Gas Compressors Market                                         

                10.1 Mergers and Acquisitions                  

                10.2 Joint Ventures, Collaborations, and Agreements                    

                10.3 Market Share Analysis                         

                10.4 Strategies Adopted by Leading Players                        

11. Future of the Gas Compressors Market                      

12. Appendix                                    

                12.1 Contact Us                

                12.2 Disclaimer                 

                **Subject to availability on public domain                                           

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