DUBLIN, March 14, 2022--(BUSINESS WIRE)--The "Gas Compressors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global gas compressors market is expected to grow at a CAGR of 7.5% during 2021-2026.
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A gas compressor refers to a mechanical device that increases the static pressure of a gas by reducing its volume. Some of the commonly used gas compressors include positive displacement and dynamic gas compressors. Positive displacement compressors include reciprocating and rotary variants that compress the gas by confining it in a closed space and increasing the pressure.
On the other hand, the dynamic compressor consists of an axial and centrifugal compressor that compresses the gas through the mechanical action of rotating vanes or impellers. These compressors are commonly used for gases, such as ethylene, fluorine, argon, hydrogen, nitrogen, xenon and silane. As a result, they find extensive applications across various industries, including general manufacturing, construction, oil & gas, mining, chemicals and petrochemicals and power generation.
Significant growth in the oil and gas industry across the globe represents one of the key factors creating a positive outlook for the gas compressors market. Furthermore, the widespread adoption of gas compressors for the processing and transportation of renewable energy resources, such as natural gas, over long distances, is also driving the market growth. In line with this, they are also used in hospitals during surgical procedures and in air filtration duct systems for maintaining the air quality and preventing contaminations and infections.
Additionally, various product innovations, such as the development of energy-efficient portable compressors for automation in industrial plants, are acting as other growth-inducing factors. Product manufacturers are also developing variants with improved storage tanks, enhanced performance capabilities, minimal maintenance requirements and fuel consumption, which, in turn, is favoring the market growth. Other factors, including rapid industrialization, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Key Questions Answered in This Report
How has the global gas compressors market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global gas compressors market?
What are the key regional markets?
What is the breakup of the market based on the compressor type?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global gas compressors market and who are the key players?
What is the degree of competition in the industry?
6 Market Breakup by Compressor Type
7 Market Breakup by End-use Industry
For more information about this report visit https://www.researchandmarkets.com/r/ck8qd4
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