NEW YORK, Jan. 12, 2016 /PRNewswire/ -- This report estimates the turbocompressor market size in terms of $million. The market has been broken down into component regions and further split into countries.
Turbocompressors are used in all aspects of natural gas development. In the production stage, compressors are used along with gathering equipment systems at the wellhead to compress gas for fluid removal and pressure equalization. However, turbocompressors primarily find application in the processing, transmission, and storage of natural gas. But, the slump in the European countries, and the growth of other types of compressors such as rotatory screw compressors have restricted the growth of this market. In addition, the growth of turbocompressors is directly proportional to the increasing level of industrialization around the world.
Various secondary sources, such as encyclopedias, directories, and databases have been used to identify and collect information useful for this extensive commercial study of the global turbocompressors market. Primary sources, such as experts in the industry and suppliers, have been interviewed to obtain and verify critical information as well as to assess the future prospects of the turbocompressors market.
Leading market players have also been profiled and their recent developments and other strategic industry activities have been provided. These include GE Oil & Gas (U.S.), Siemens (Germany), MAN Diesel and TURBO (Germany), Howden (U.S.), and Mitsubishi Heavy Industries (Japan).
Asia-Pacific accounted for about 35% of the total market share in 2014. China is the largest market in Asia-Pacific, and is expected to grow rapidly, along with India, in the near future. While centrifugal turbocompressors held majority market share in 2014, the demand of axial turbocompressors is increasing at a greater pace.
The turbocompressors market has been segmented into six regions—namely, North America, South America, Europe, Africa, Asia-Pacific, and the Middle East. The report also touches on various other important aspects of the market. It includes an analysis of the value chain, Porter's Five Forces analysis, and a competitive landscape. In addition, 12 key players of this market have also been profiled.
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