Authored By: Sarah
23 Aug 2024

Air Compressor In Oil And Gas Industry Market Size to grow by USD 2538 million between 2024-2028

The Air Compressor In Oil And Gas Industry Market is segmented by Product (Positive displacement (PD) and Centrifugal), Type (Stationary and Portable), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 2538 million, at a CAGR of 4.36% during the forecast period. There are several companies that are contributing to the market as per this report. Rising focus on economy and energy security .

By Product, the Positive displacement (PD) segment is projected to dominate the market size in 2024

In the oil and gas industry, positive displacement (PD) compressors, which include reciprocating piston compressors, rotary screw compressors, and rotary vane compressors, dominated the global air compressor market in 2023. These compressors function by capturing a specific volume of air in a chamber and subsequently reducing the chamber's size to compress the air. Amongst PD compressors, reciprocating piston compressors, specifically, are further classified into single-acting and double-acting types. Single-acting piston compressors draw in air from one side of the piston, compress it during the upward stroke, and utilize the downward stroke to release the compressed air into the system.

For insights on company offerings- Request a sample report!

Why is APAC forecasted to hold the largest regional market size in 2024?

In the Oil and Gas sector, air compressors play a pivotal role in powering various operations. These compressors are essential for the production and processing of natural gas and oil. They help in the extraction of raw resources by supplying compressed air for drilling and completion activities. Additionally, they are utilized in natural gas processing facilities for the separation and purification of natural gas. The market for air compressors in this industry is robust, driven by the increasing demand for energy and the need for efficient and reliable equipment solutions.

To access the valuable insights - Download the Free Sample Report

Research Analysis Overview

The Air Compressor market in the Oil and Gas Industry plays a vital role in powering various applications across different sectors. In the Oil and Gas Industry, air compressors find extensive use in Hydrogen production for the Semiconductor and Electronics industries, as well as in Energy and Power generation projects. Industrial sectors such as Commercial Manufacturing, Chemical Plants, and Oil Refineries rely on stationary compressors, including centrifugal compressors, for their air supply needs. Air compressors are essential in powering conveyor systems, automation equipment, and pneumatic tools in Industrial Automation. Industrial air compressors, including reciprocating compressors and oil-free systems, are indispensable in the Natural Gas sector for natural gas processing and transmission. Furthermore, air compressors are crucial in Power Generation projects for the combustion process in gas turbines. Overall, the Air Compressor market in the Oil and Gas Industry continues to grow, driven by the increasing demand for efficient and reliable compressed air solutions.

Market Research Overview

The industrial machinery and supplies and components market, encompassing manufacturers of equipment such as compressors, presses, machine tools, pumps, and pollution control systems, falls under the broader category of global industrial machinery markets. According to Technavio's market analysis, this market's size is determined by the consolidated revenue generated by these industries. Factors driving growth in the industrial machinery, supplies, and components market include the expanding industrial output in process and discrete industries, as well as increasing demand for energy, chemicals, petrochemicals, pulp and paper products, and processed food and beverages in developing economies. - The Air Compressor In Oil And Gas Industry Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio