Latest News- Gas Compressors Market: PD compressors is expected to lead the Product segment during 2025-2029

The Gas Compressors Market is being driven by Increasing need for energy-efficient gas compressor systems

The Gas Compressors Market is expected to grow at a CAGR of 5.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2882.8 million. In today's intensely competitive Gas Compressors Market, companies are recognizing the significance of strategic mergers and acquisitions to expand their offerings and penetrate new markets. This approach not only enables manufacturers to provide their clients with comprehensive, dependable, high-quality, and technologically advanced products and services but also strengthens their competitive positions. In response to escalating technological and strategic demands, as well as the necessity for superior after-sales services, compressor manufacturers are entering a consolidation phase to maintain market growth and enhance their competitive advantages. For instance, in November 2023, Hitachi completed the acquisition of Northern California Distributor General Air Compressors, enabling the company to differentiate its product offerings and boost profitability. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • PD compressors
  • Roller crushers
• End-user
  • Oil and gas
  • Power generation
  • Chemicals and petrochemicals
  • Mining
  • Others
• Technology
  • Reciprocating
  • Rotary screw
  • Centrifugal
  • Axial
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing need for energy-efficient gas compressor systems
• Growing use of CNG as fuel
• Increasing adoption of gas compressors in various industries

However, the market also witnesses some limitations, which are as follows:

• Resistance to new technology adoption
• Volatility in oil and gas prices
• Fluctuating prices of raw materials

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Market Scope in Gas Compressors Market Research Report

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Research Analysis Overview

The Gas Compressors Market encompasses the deployment of compressor units for Gas Production, Storage, and Infrastructure projects. Carrier gas compressors play a crucial role in industrial processes and clean energy production, reducing CO2 emissions and adhering to carbon emission norms. After-sales services and control systems ensure customer relationships and satisfaction. Compressor types are continually evolving with improved materials and advanced technologies. Gas demand drives market growth, with a focus on cleaner energy sources and construction of new storage units. Industrial activities and gas infrastructure development further boost demand.

Market Research Overview

In the industrial machinery and supplies and components market, the compressor segment, specifically carrier gas compressors and compressor trains, experiences significant demand due to their integral role in various industries such as energy, chemicals, petrochemicals, pulp and paper, and processed food and beverages. As the global economy expands, particularly in developing countries, the need for increased production capacity drives market growth. Compressor manufacturers focus on after-sales services, compressor designs for improved efficiency, and reducing carbon emissions, including CO2, to meet the demand for cleaner energy sources and adhere to environmental regulations. Technavio projects the industrial machinery, supplies, and components market size based on the combined revenue generated by machinery and component manufacturers, with compressors being a key contributor to this sector's growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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