Turbocompressor Market to reach $29.35 Bn, Globally, by 2030 at 6.3% CAGR: Allied Market Research

PORTLAND, Ore., Feb. 22, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Turbocompressor Market by Type (Centrifugal and Axial), Stage (Single Stage and Multi-Stage), and End User (Oil & Gas, Power Generation, Chemical, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global turbocompressor industry generated $15.74 billion in 2020, and is projected to reach $29.35 billion by 2030, witnessing a CAGR of 6.3% from 2021 to 2030.

Drivers, Restraints, and Opportunities

Increase in applications in wastewater treatment plants worldwide, rise in global LNG trade, energy demand, and surge in industrialization drive the growth of the global turbocompressor market. However, availability of substitutes such as rotary screw compressors and slowdown of LNG trade hinder the market growth. On the other hand, evolving CO₂ transport networks and technological advancements create new opportunities in the coming years.

Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/2184

Covid-19 Scenario

• Manufacturing activities of turbocompressors halted due to lockdown measures implemented across many countries. Moreover, supply chain disruptions and shortage of raw materials created challenges in carrying out manufacturing with full capacity.
• The demand from end-use industries such as oil & gas, chemical, power generation, and others reduced significantly due to halt in daily operations during the lockdown. However, the demand is estimated to grow steadily post-lockdown as daily operations get back on track and the market is expected to recover in the coming years.

The centrifugal segment to continue its leadership status during the forecast period

Based on type, the centrifugal segment held the highest share in 2020, accounting for around three-fourths of the global turbocompressor market, and is expected to continue its leadership status during the forecast period. This is due to low cost of installation in end user applications. However, the axial segment is projected to manifest the highest CAGR of 6.5% from 2021 to 2030, owing to high efficiency during operation.

Get detailed COVID-19 impact analysis on the Turbocompressor Market: https://www.alliedmarketresearch.com/request-for-customization/2184

The power generation segment to maintain its leadership status during the forecast period

Based on end user, the power generation segment contributed to the largest share in 2020, accounting for more than two-fifths of the global turbocompressor market, and is expected to maintain its leadership status during the forecast period. This is attributed to surge in utilization across the world in power generation applications for its increased pressure and efficiency. However, the water & wastewater segment is estimated to portray the highest CAGR of 7.7% from 2021 to 2030, owing to the requirement of minimum maintenance of turbocompressor for these applications.

Asia-Pacific, followed by North America, to continue its dominance in terms of revenue by 2030

Based on region, Asia-Pacific, followed by North America, accounted for the highest market share in 2020, holding nearly two-fifths of the global turbocompressor market, and is expected to continue its dominance in terms of revenue by 2030. This is attributed to large-scale manufacturing of turbocompressors in China. However, LAMEA is estimated to manifest the fastest CAGR of 7.5% from 2021 to 2030. This is due to rapid industrialization and urbanization in the region.

Leading Market Players

• Atlas Copco AB
• Elliott Group
• General Electric
• Howden Group
• Ingersoll Rand
• Kawasaki Heavy Industries, Ltd.
• Kobe Steel, Ltd.
• MAN Energy Solutions
• Mitsubishi Heavy Industries, Ltd.
• Siemens

Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/2184

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial

Similar Reports We Have:
Air Compressor Market - Global Air Compressor Market size is expected to reach $26,850.35 million in 2023, from $19,798.56 million in 2016, growing at a CAGR of 4.47% from 2017 to 2023.

Construction Equipment Market - Global construction equipment market growing at a CAGR of 4.3% from 2020 to 2027.

Filtration & Separation Market - Global filtration & separation market is projected to reach $116,123.0 million by 2026, growing at a CAGR of 3.3% from 2019 to 2026.

Pre-Book Now with 10% Discount:

Compressor Parts and Accessories Market - Global Opportunity Analysis and Industry Forecast, 2021–2030

Compressor Rental Market - Global Opportunity Analysis and Industry Forecast, 2021–2030

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn

SOURCE Allied Market Research

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED