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Centrifugal Compressor Market - 50% of Growth to Originate from APAC | Evolving Opportunities with Atlas Copco AB & Baker Hughes Co. | Technavio

NEW YORK, May 11, 2022 /PRNewswire/ -- The centrifugal compressor market size is expected to grow by USD 2.97 billion from 2021 to 2026 at a CAGR of 4.75% as per the latest market report by Technavio. 50% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the centrifugal compressor market in APAC. Market growth in this region will be faster than the growth of the market in other regions. Centrifugal compressors are widely utilized in refineries for the oil refining and automotive industry. This will facilitate the centrifugal compressor market growth in APAC over the forecast period. 

Technavio has announced its latest market research report titled Centrifugal Compressor Market by Product and Geography - Forecast and Analysis 2022-2026

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Read the 120-page report with TOC on "Centrifugal Compressor Market Analysis Report by Product (Single-stage and Multi-stage) and Geography (APAC, North America, Europe, South America, and the Middle East and Africa), and the Segment Forecasts,2022-2026". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/centrifugal-compressor-market-industry-analysis

 Centrifugal Compressor Market: Vendor Analysis

The centrifugal compressor market is fragmented and the vendors are deploying growth strategies such as differentiated product offerings and business expansions to compete in the market. The centrifugal compressor market report offers information on several market vendors, including Atlas Copco AB, Baker Hughes Co., FS ELLIOTT Co. LLC, General Electric Co., Hitachi Ltd., IHI Corp., Ingersoll Rand Inc., Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Mitsubishi Heavy Industries Ltd., Mitsui and Co. Ltd., Siemens Energy AG, Ebara Corp., Fusheng Precision Co. Ltd., Hanbell Precise Machinery Co. Ltd., Hanwha Power Systems Co. Ltd., and Kobe Steel Ltd. among others.

  • Atlas Copco AB - The company offers centrifugal compressors such as the GT series, T series, and RT series. 

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Centrifugal Compressor Market: Drivers & Challenges

The growing investment in oil and gas exploration and production activities is one of the key drivers fueling the centrifugal compressor market growth. The centrifugal compressor has widespread applications in the upstream, midstream, and downstream processing in the oil and gas industry. Several countries have taken initiatives to increase investments in oil and gas E&P activities to increase the production of hydrocarbons. For instance, in March 2022, Canada-based Frontera Energy Corporation announced that it discovered 27.2-degree light crude oil at the Tui-1 exploration well on the Perico block in Ecuador. Similarly, in February 2022, the UAE-based Dragon Oil PLC, a subsidiary of state-owned Emirates National Oil Company, announced that it had made its first oil discovery in the Gulf of Suez. These initiatives will drive the centrifugal compressor market growth during the forecast period.

However, the fluctuating prices of raw materials is one of the limitations hampering the centrifugal compressor market growthDue to high competition in the market, there are vendors who are compelled to reduce the prices of their product offerings to maintain their market share. Significantly, the major major raw materials used in the production of centrifugal compressors are steel, aluminum, and carbon steel. However, the cost of these materials does not remain the same but fluctuates regularly due to various macro and microeconomic factors. This impacts the prices of centrifugal compressor products. Furthermore, the fluctuating prices of raw materials create uncertainty for the pricing of the centrifugal compressor market. Therefore, it poses a major challenge to the market, which, in turn, affects the growth of the centrifugal compressor market focus during the forecast period.

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Centrifugal Compressor Market: Segmentation Analysis

Product Outlook (Revenue, USD bn, 2021-2026)

  • Single-stage - size and forecast 2021-2026
  • Multi-stage - size and forecast 2021-2026

Geography Outlook (Revenue, USD bn, 2021-2026)

  • APAC - size and forecast 2021-2026
  • North America - size and forecast 2021-2026
  • Europe - size and forecast 2021-2026
  • South America - size and forecast 2021-2026
  • Middle East and Africa - size and forecast 2021-2026

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Centrifugal Compressor Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.75%

Market growth 2022-2026

USD 2.97 billion

Market structure

Fragmented

YoY growth (%)

4.33

Performing market contribution

APAC at 50%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Atlas Copco AB, Baker Hughes Co., FS ELLIOTT Co. LLC, General Electric Co., Hitachi Ltd., IHI Corp., Ingersoll Rand Inc., Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Mitsubishi Heavy Industries Ltd., Mitsui and Co. Ltd., Siemens Energy AG, Ebara Corp., Fusheng Precision Co. Ltd., Hanbell Precise Machinery Co. Ltd., Hanwha Power Systems Co. Ltd., and Kobe Steel Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
  • 5.2 Comparison by Product
    • Exhibit 26: Chart on Comparison by Product
    • Exhibit 27: Data Table on Comparison by Product
  • 5.3 Single-stage - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Single-stage - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Single-stage - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Single-stage - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Single-stage - Year-over-year growth 2021-2026 (%)
  • 5.4 Multi-stage - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Multi-stage - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Multi-stage - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Multi-stage - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Multi-stage - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Product
    • Exhibit 36: Market opportunity by Product ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 APAC - Market size and forecast 2021-2026
    • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.4 North America - Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.5 Europe - Market size and forecast 2021-2026
    • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 China - Market size and forecast 2021-2026
    • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.9 US - Market size and forecast 2021-2026
    • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.10 Germany - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.11 India - Market size and forecast 2021-2026
    • Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)
  • 7.12 UK - Market size and forecast 2021-2026
    • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.13 Japan - Market size and forecast 2021-2026
    • Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.14 Market opportunity by geography
    • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 89: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 91: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 92: Matrix on vendor position and classification
  • 10.3 Atlas Copco AB
    • Exhibit 93: Atlas Copco AB - Overview
    • Exhibit 94: Atlas Copco AB - Business segments
    • Exhibit 95: Atlas Copco AB - Key news
    • Exhibit 96: Atlas Copco AB - Key offerings
    • Exhibit 97: Atlas Copco AB - Segment focus
  • 10.4 FS ELLIOTT Co. LLC
    • Exhibit 98: FS ELLIOTT Co. LLC - Overview
    • Exhibit 99: FS ELLIOTT Co. LLC - Product / Service
    • Exhibit 100: FS ELLIOTT Co. LLC - Key offerings
  • 10.5 Fusheng Precision Co. Ltd.
    • Exhibit 101: Fusheng Precision Co. Ltd. - Overview
    • Exhibit 102: Fusheng Precision Co. Ltd. - Product / Service
    • Exhibit 103: Fusheng Precision Co. Ltd. - Key offerings
  • 10.6 Hitachi Ltd.
    • Exhibit 104: Hitachi Ltd. - Overview
    • Exhibit 105: Hitachi Ltd. - Business segments
    • Exhibit 106: Hitachi Ltd. - Key news
    • Exhibit 107: Hitachi Ltd. - Key offerings
    • Exhibit 108: Hitachi Ltd. - Segment focus
  • 10.7 Ingersoll Rand Inc.
    • Exhibit 109: Ingersoll Rand Inc. - Overview
    • Exhibit 110: Ingersoll Rand Inc. - Business segments
    • Exhibit 111: Ingersoll Rand Inc. - Key offerings
    • Exhibit 112: Ingersoll Rand Inc. - Segment focus
  • 10.8 Kobe Steel Ltd.
    • Exhibit 113: Kobe Steel Ltd. - Overview
    • Exhibit 114: Kobe Steel Ltd. - Business segments
    • Exhibit 115: Kobe Steel Ltd. - Key offerings
    • Exhibit 116: Kobe Steel Ltd. - Segment focus
  • 10.9 MAN Energy Solutions SE
    • Exhibit 117: MAN Energy Solutions SE - Overview
    • Exhibit 118: MAN Energy Solutions SE - Product / Service
    • Exhibit 119: MAN Energy Solutions SE - Key offerings
  • 10.10 Mitsubishi Heavy Industries Ltd.
    • Exhibit 120: Mitsubishi Heavy Industries Ltd. - Overview
    • Exhibit 121: Mitsubishi Heavy Industries Ltd. - Business segments
    • Exhibit 122: Mitsubishi Heavy Industries Ltd. - Key news
    • Exhibit 123: Mitsubishi Heavy Industries Ltd. - Key offerings
    • Exhibit 124: Mitsubishi Heavy Industries Ltd. - Segment focus
  • 10.11 Mitsui and Co. Ltd.
    • Exhibit 125: Mitsui and Co. Ltd. - Overview
    • Exhibit 126: Mitsui and Co. Ltd. - Business segments
    • Exhibit 127: Mitsui and Co. Ltd. - Key offerings
    • Exhibit 128: Mitsui and Co. Ltd. - Segment focus
  • 10.12 Siemens Energy AG
    • Exhibit 129: Siemens Energy AG - Overview
    • Exhibit 130: Siemens Energy AG - Business segments
    • Exhibit 131: Siemens Energy AG - Key news
    • Exhibit 132: Siemens Energy AG - Key offerings
    • Exhibit 133: Siemens Energy AG - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 134: Inclusions checklist
    • Exhibit 135: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 136: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 137: Research methodology
    • Exhibit 138: Validation techniques employed for market sizing
    • Exhibit 139: Information sources
  • 11.5 List of abbreviations
    • Exhibit 140: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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