DUBLIN--(BUSINESS WIRE)--The "Global Process Gas Compressors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Process Gas Compressors market was valued at USD 4840 million in 2020 and is expected to reach USD 5736.24 million by 2026, at a CAGR of 2.87% over the forecast period 2021 - 2026.

Technological advancement in compression techniques has a profound influence over the compression capabilities of the equipment and subsequently is expected to drive the process gas compressor market growth during the forecast period.

Moreover, the rise in the adoption of robust and energy-efficient equipment is also expected to fuel the demand for air compressors in the industry. In addition, the equipment requires the application of sophisticated technology with high technical expertise for designing high power rated and efficient air compression equipment.

Consequently, the high cost of installation and maintenance for the equipment is expected to hinder the market growth of the process gas compressor market in the coming years. However, the increase in production activities from Asia-Pacific and LAMEA is expected to provide profitable business opportunities to the manufacturers during the forecast period.

In the case of North America, the newly found shale gas resources and National OCS leasing programs are strengthening their import and export activities racing them to the top of the charts. This upbeat in the oil & gas industry is expected to improve with further strengthening oil prices in the near future, opening up opportunities to the process gas compressors market.

The demand from the healthcare sector is expected to experience a surge in 2020 owing to the increased demand for ventilators in the wake of CoVID-19.

Key Market Trends

Oil & Gas Industry to Hold Major Share

• The oil & gas industry is anticipated to hold major share owing to the growing consumption of natural gas. Consumption of natural gas worldwide is projected to increase from 120 trillion cubic feet (Tcf) in 2012 to 203 Tcf in 2040, according to the International Energy Outlook 2016 (IEO2016) Reference case.
• Process gas compressor demand in the midstream oil and gas industry is also expected to grow with the increase in exports and imports by gas producing countries such as the US and Russia and gas-consuming countries such as China and the European Union respectively.
• Global Oil and Gas trunk pipelines are expected to grow from 1.9 million km in 2019 to 2.2 million km by 2023, showing a total growth of 13.4%. Asia and North America lead in this data with a total of approximately .14 million km growth in pipeline length according to announced and planned projects, this trend is expected to show positive signs for process gas compressor market in coming years.
• In the US there has been a significant reduction in the share of energy production from coal, which is being gradually replaced by energy production from gas. The share of energy production from gas rose from 27.5% in 2014 to 35.1% in 2018, this indicates growth for process gas compressor market growth in the Oil and Gas Industry.
• A similar rise in process gas demand for energy production can be seen globally, with more growth rates in developing countries such as India, China, Mexico, etc.

Competitive Landscape

The companies in the market are focusing on organic growth strategies such as product launches, product approvals, and patent filing. The inorganic growth strategies witnessed were partnerships & collaborations, and mergers & acquisitions. These activities have paved path for the expansion of business and customer base.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Global Investment in Oil & Gas

4.2.2 Growing Demand for Energy Efficient Compressors

4.3 Market Restraints

4.3.1 Environmental Concerns

4.4 Industry Value Chain Analysis

4.5 Industry Attractiveness - Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 By Type

5.1.1 Oil Injected

5.1.2 Oil Free

5.2 By End User

5.2.1 Oil & Gas

5.2.2 Manufacturing

5.2.3 Power Generation

5.2.4 Industrial Gases

5.2.5 Healthcare

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Atlas Copco Group

6.1.2 Ingersoll Rand Inc

6.1.3 General Electric Company

6.1.4 Siemens AG

6.1.5 Mitsui Engineering & Shipbuilding Co Ltd

6.1.6 Kaeser Kompressoren GmbH

6.1.7 Sullair LLC

6.1.8 Bauer Kompressoren GmbH

6.1.9 Howden Group

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/hifmnf

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