Global reciprocating compressor market is anticipated to witness an exponential growth in the forecast period. Reciprocating compressor, also termed as “Piston compressor", is a positive-displacement compressor that uses pistons determined by a crankshaft to carry gases at high pressure. Factors such as technological advancement, growing demand from the refinery and LNG & CNG transport & storage plants, and increase in construction activities in the emerging countries drive the reciprocating compressor market.
In addition, the automotive companies offer outstanding features such as cost-effectiveness and capacity to produce both high power and pressure and increasing demand reciprocating compressor are likely to drive the market in the forthcoming period. On the other hand, being bulky in size, they could hinder market growth in the future. However, growing manufacturing facilities is likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Reciprocating compressor market could be explored by product type, type, application, end-user industry, and geography.
Market could be explored by product type as Liquefied Natural Gas (LNG) Reciprocating Compressors, Labyrinth Piston Compressors, Labyrinth Piston Compressors, Industrial Process Gas Reciprocating Compressors, Hyper Compressors, Oil-free Reciprocating Compressors. The “Industrial Process Gas Reciprocating Compressors” sector accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.
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Reciprocating compressor market could be explored by type as Vertical, Angular, and Horizontal. The “Vertical” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include high competence and demand for vertical reciprocating compressors is increasing across numerous end-use industries such as chemical, power generation, and petroleum. The key applications that could be explored in the market include Refinery, Industrial Gases, Upstream Oil and Gas, Ethylene and LDPE plants, LNG and CNG Transport and Storage.
The reciprocating compressor industry could be explored based on end-user industry as Oil & gas, Chemical, Big & Giant-Sized plants, upstream, Downstream, Midstream, Petrochemical, Small and Medium-sized plants, LNG, others. The “Oil & gas” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include optimistic outlook associated with oil & gas exploration and mining activities and the rise in construction activities in developing countries.
The Asia-Pacific is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as a high potential region for numerous industries, technological advancement, the presence of leading automotive companies and advance maintenance-free compressors with better efficiency. Asia-Pacific is followed by the European region owing to development in the automotive industry.
Key players operating in the reciprocating compressor market include Siemens, Ariel, Atlas Copco, GE, Burckhardt Compression, Kobelco, Howden, Ingersoll Rand, Shenyang Yuanda, Hitachi, Sundyne, Gardner Denver, Neuman & Esser, Shenyang Blower, KAESER, Corken, Fusheng, and Mayekawa. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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