Market Scope and Structure Analysis
Axial flow compressor can pressurize gases continuously. These axial compressors include a radial component through the compressor which makes it different from another rotating compressor such as a centrifugal compressor. The compressor increases the energy level of the fluid due to the action of rotor blades which produce a torque on the fluid. They are generally driven by electric motors. Axial flow compressors are highly used in air separation units of the steel industry.
COVID-19 Impact Analysis
- COVID-19 pandemic has shut down the production of various products in the axial flow compressor industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the axial flow compressor market significantly in the last few months, as is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, the potential impact of the lockdown is currently vague and the financial recovery of companies is based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Top Impacting Factors
The increase in adoption of axial flow compressors in steel and iron industries to separate air drives the growth of the market. Many industrial applications of axial flow compressors like air separation in manufacturing plants, removing liquid from natural gas also drive the growth of the market. In addition, high operating and production cost and heavyweight of the axial flow compressor hamper the market growth. Moreover, increase in demand in the oil & gas industry throughout the world for transportation of hydrogen through pipelines is opportunistic for the market growth.
- New products that contain improved capabilities have been launched by the leading market players. For instance, Ingersoll Rand launched its new R Series oil-flooded rotary screw air compressor in April 2018, which provides a more energy-efficient solution for high-capacity air requirements. These are available in both single-stage and two-stage air ends.
- Similarly, competitors in the axial flow compressor industry adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, Howden acquired Maintenance partners NV in April 2021 which provides aftermarket maintenance and repair of industrial compressors. With this move, Howden can serve customers with a full range of aftermarket services close to their operations for European and North American customers.
Key Benefits of the Report
- This study presents the analytical depiction of the axial flow compressor along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the axial flow compressor share.
- The current market is quantitatively analyzed to highlight the axial flow compressor machinery market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed axial flow compressor market analysis based on competitive intensity and how the competition will take shape in the coming years.
Axial Flow Compressor Market Report Highlights
By Stage Type
Key Market Players
Howden Compressors Ltd, Ingersoll Rand PLC, Xi'an Shaangu Power, Mitsubishi Hitachi Power Systems, Siemens AG, General Electric Company, Dresser-Rand, Elliott Group, MAN Turbomachinery, Wartsila