Authored By: Sarah
11 Jul 2024

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

According to a research report “ Air Compressor In Oil And Gas Industry Market” by Product (Positive displacement (PD), Centrifugal) Type (Stationary, Portable) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 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. In the oil and gas industry, the pressing need to address climate change and global warming has led to a heightened focus on energy efficiency and emissions reduction. Compliance with regional regulations in Europe and North America, which mandate the use of energy-efficient equipment such as compressors, motors, and pumps, is a primary driver for this trend. Additionally, electricity consumption, which constitutes approximately 70% of a compressor's total lifetime costs, is a significant consideration for end-users in their equipment selection process. By adopting new, energy-efficient air compressors, businesses in the oil and gas sector can reduce their carbon footprint, lower operational expenses, and remain compliant with regulatory requirements.

Browse market data tables, figures, and in-depth TOC on “Air Compressor In Oil And Gas Industry Market” by Product (Positive displacement (PD), Centrifugal) Type (Stationary, Portable) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

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

In the oil and gas industry, stationary air compressors are indispensable due to their larger capacity and ability to provide a continuous supply of compressed air. These compressors, which are stationary by design, are characterized by their larger size and immovable positioning. The substantial tank volumes necessitate a fixed installation, making them unsuitable for relocation. Stationary air compressors are more powerful than their portable counterparts, enabling them to generate higher airflow and pressure. However, their larger size and greater capacity necessitate a significant power source, typically derived from an AC main supply, limiting their operability in areas without access to such power. Consequently, stationary air compressors are the preferred choice for oil and gas sites that demand substantial volumes of compressed air for their operations.

By Type, Stationary  segment is expected to hold the largest market size for the year 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.

APAC is forecasted to hold the largest market size by region 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.

The Air Compressor In Oil And Gas Industry Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • ANEST IWATA Corp.
  • Atlas Copco AB
  • Bauer Comp Holding GmbH
  • BOGE
  • Chart Industries Inc.
  • Doosan Portable Power Co.
  • Elgi Equipments Ltd
  • Fusheng Precision Co. Ltd.
  • Gardner Denver
  • General Electric Co.
  • Hanbell Precise Machinery Co. Ltd.
  • Ingersoll Rand Inc.
  • KAESER KOMPRESSOREN SE
  • Kaishan Compressor USA
  • Kirloskar Pneumatic Co. Ltd.
  • Porsche Automobil Holding SE
  • Quincy Compressor
  • Siemens Energy AG
  • Sullair LLC
  • Sulzer Ltd.
.

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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 Air Compressor market in the Oil and Gas Industry plays a significant role in powering various applications in mining, hydrogen production, chemical plants, power generation projects, oil refineries, and the gas pipeline industry. Industrial air compressors are essential for industrial sectors such as semiconductor industries, electronics, energy and power, commercial manufacturing, and automation equipment. The market includes stationary compressors like centrifugal compressors, oil flooded compressors, rotary compressors, reciprocating compressors, and oil-free systems. Cloud technology and Big Data analytics are transforming the Air Compressor industry, enabling predictive maintenance and energy savings. The Compressed Air Society and Code of Practice promote energy conservation standards and air quality, ensuring the reduction of contaminants and emission standards. Production losses due to poor air quality and inefficient compressors can be minimized through air audits and the implementation of greenhouse gas emissions reduction strategies. The Oil and Gas Industry uses various types of compressors, including gasoline engines, diesel engines, and electric motors, in stationary and portable applications. Air compressors are used to power conveyors, pneumatic tools, and industrial automation. The Natural Gas sector also relies heavily on compressors for gas pipeline transportation and compression in power plants. The market is expected to grow due to increasing demand for compressed air in various industries and the shift towards energy-efficient and environmentally friendly compressor systems.

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