DALLAS, July 22, 2015 /PRNewswire/ --
The report "Turbocompressor Market by Type (Centrifugal & Axial), By Application (Oil & Gas, Chemical Processing, Power Generation, & Others), by Stage (Single Stage and Multi-Stage), by Output Pressure (0-100, 101-500, Above 500 BARS), & Region - Global Trends & Forecasts to 2020" defines and segments the Turbocompressor Market with an analysis and forecast of the global market size. The global Turbocompressor Market was valued at $11.4 Billion in 2014. This value is estimated to increase to $17.2 Billion by 2020, at a CAGR of 7.5% during the forecast period.
Browse 65 market data Tables and 34 Figures spread through 175 Pages and in-depth TOC on "Turbocompressor Market"
Early buyers will receive 10% customization on this report.
The Turbocompressor Market is likely to grow reasonably the forecast period. The growing oil & gas sector and diversification away from oil & gas in the Middle East is triggering the demand for turbocompressors and driving its market. In addition, customized technology that increases efficiencies is being provided by turbocompressor manufacturers to meet the demand of end-users. This has increased the demand for turbocompressors in the market.
Speak to Analyst: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=78667090
Turbocompressors are used in all the aspects of natural gas development. In the production segment, compressors are used at the wellhead to compress gas for fluids removal and pressure equalization with gathering equipment systems. However, the primary use of turbocompressors is in natural gas processing, transmission, and storage segments of the industry. Hence, the growth and increased trade of natural gas is a driver of the Turbocompressor Market.
The major drivers of the Turbocompressor Market include increased industrialization, especially in industries such as automotive production and assembly, increased LNG transports, and new industries of non-oil & gas sector coming up in the Middle East. Slowing European economies and stringent environmental regulations in the oil & gas sector are the major restraints of the Turbocompressor Market. Meanwhile, Asia-Pacific held the major market share in the global Turbocompressor Market in 2014. The use of turbocompressors in CO2 transmissions and evolution of technologies, such as step change turbocompressors, are the major opportunities for the manufacturers of turbocompressors.
Asia-Pacific was the largest market for turbocompressor manufacturers in 2014 because of rapid industrialization going on in Asian countries such as China and India. China was the largest market for turbocompressors manufacturers globally in 2014. On the other hand, the centrifugal turbocompressor segment held the majority share in the Turbocompressor Market in the same year. But, the demand for axial turbocompressors is growing rapidly, and is expected to surpass centrifugal turbocompressors before 2020.
The market has been estimated from the demand point of view. This report breaks the market into smaller service segments. In order to provide a deeper understanding of the competitive landscape, 12 companies operating in the Turbocompressor Market have been profiled.
The global Turbocompressor Market was valued at $11.4 Billion in 2014. This value is estimated to increase to $17.2 Billion by 2020, at a CAGR of 7.5% during the forecast period. Asia- Pacific led the global Turbocompressor Market with a share of around 35% in 2014.
Browse related reports
Dosing Systems Market by Pump Type (Diaphragm, Piston, and Others), by Application (Water and wastewater treatment, Oil & Gas, Chemical Processing, Pharmaceuticals, Paper & Pulp, Food & Beverages, and Others), & Region - Global Trends and Forecasts to 2019
Hydraulic Power Unit Market by Applications (Mobile, Industrial & Others), Operating pressure, (pSI), (<750, 750-2000, 2000-3000, >3000), & by Region (APAC, North America, Latin America, Europe, the Middle East & Africa) - Global Trends & Forecast to 2019
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza
17304 Preston Road
Suite 800, Dallas, TX 75252
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets