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Reciprocating Compressor Market - Global Opportunity Analysis and Industry Forecast, 2020 –2027

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Jun 2021 | 185 Views
 
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Reciprocating Compressor Market Outlook - 2027

Reciprocating air compressor consist of piston-cylinder arrangement which is used to compress air. In this type of air compressor, a piston moves back-and-forth inside the cylinder to compress the air. The reciprocating air compressor is also known as positive displacement compressor. Reciprocating air compressor is available as lubricated and oil-free. As nowadays  in manufacturing activities also, in the automotive sector there is prediction of demand increasing of reciprocating air compressor. But, there is  preference for hiring air compressors that is likely to hamper the demand for reciprocating air compressor during the forecast period. These compressors have much  use in the manufacturing of chemicals and petroleum. They are used in processes that  comprises use in the transportation of natural gas and compression of gas. In addition to that, reciprocating compressors find their use in a wide range of processes in various industrial sectors such as pharmaceutical, power generation, metal processing, oil and gas, and chemicals.  having Such wide scope of application is likely to give enhance the global reciprocating compressor market in the near future. In last few years, shareholders in the global reciprocating compressor market are expected to shift their focus on managing heat efficaciously, helping in rotation, narrowing the flow of gas, and improving the durability of the machine. 

Market scope and structure analysis:

                Report Metric

                                               Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (US$  Millions)

  Segments covered

  Component, End-user industry, and Region

  Geographies covered

North America (US and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, and the Rest of Asia Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

 

 

  • Atlas Copco
  • Burckhardt Compression AG
  • Siemens AG
  • GE Company
  • IHI Corporation, Ltd.
  • Mitsui E&S Holdings Co., Ltd.
  • The Japan Steel Works, LTD.
  • Kaeser Kompressoren Co., Ltd.
  • Mayekawa Mfg. Co., LTD
  • Mikuni Kikai Kogyo Co., LTD.
  • Gardner Denver Holdings Inc.

 

 

Covid -19 impact on industry -

COVID-19 pandemic has shut-down the production of various products in the reciprocating compressor  market  industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of reciprocating compressor  market  significantly from 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, potential impact of the lockdown is currently vague and financial recovery of companies is totally 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 toward immediate crises and find new ways of working after COVID-19

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The main purpose of reciprocating compressor is compression of air that has its use in chemical and petroleum industry .Some reason that affect their growth are  continuous demand  in cost efficient reciprocating compressors

  • Rising Demand from Several End Use Industries to Boost Market Growth

A rise in the demand for these compressors from CNG and LNG transport and storage plants and refinery are likely to shape global reciprocating compressor market in the near future. 

Apart from that, the reciprocating compressors come with excellent features such as excellent performance in both high pressure and power. This factor is likely to pave way for the rapid revenue generation of the global reciprocating compressor market.

However, the fraudulent imitation of the designs of these compressors and high competition in price are likely to emerge as growth restraining factors for the global reciprocating compressor market.

  • High Demand for Cost-efficient Reciprocating Compressors

Reciprocating compressors are extensively used in the production of chemicals and petroleum, including natural gas transportation and gas compression. Also, reciprocating compressors  have their use in industrial sectors, including oil & gas, chemicals, refrigeration, metal processing, power generation, and pharmaceutical industries. nowadays, stakeholders in the reciprocating compressor market are expected to focus on improving the machine’s durability, assisting in rotation, narrowing gas flow, and managing heat efficiently.

Multiple manufacturers of reciprocating compressors are focusing on improving the overall thermodynamic efficiency and monitor pressure pulsation, so the  piping vibration is a critical parameter. The demand for reciprocating compressors is expected to grow at a steady pace, according to their usefulness in compressing industrial and medical gases such as hydrogen, oxygen, helium, etc. But, due to this undetected and unresolved faults could cause immense damage to reciprocating compressors due to which vibration monitoring is critical.

There are some of  leading factors that are expected to fuel the growth of the global reciprocating compressor market  that includes  technological innovations, industrialization, investments, and replacement demand. As stakeholders continue to introduce advanced and improved variants of reciprocating compressors, the demand from end-use industries such as petrochemical, chemical, and power generation, among others, is expected to grow exponentially during this time we have accounted. 

Key segments covered:

Segments

Sub-segments

  Component

Product

services

  End users

  •  Natural gas processing plants
  • Oil refineries
  • Chemical plants
  • Gas pipelines
  • Refrigeration plants

 

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Key benefits of the report:

  • This study presents the analytical depiction of the reciprocating compressor  market along with the current trends and future estimations to determine the future of the market 
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the reciprocating compressor  market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to  reciprocating compressor market  growth scenario.
 
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