Turbocompressor Market
The global turbocompressor market is expected to exhibit steady growth over the forecast period despite the growing COVID-19 pandemic, according to the latest research report from Market Research Future (MRFR). The historical growth trajectory of the turbocompressor market is studied in great detail in the report, in order to provide studied analysis of the market’s trajectory and accurate forecasts as to the market’s likely growth trajectory over the forecast period.
The major drivers and restraints affecting the global turbocompressor market are examined in the report. The leading players operating in the global turbocompressor market are also studied in the report in order to give readers an accurate overview of the competitive landscape of the market. The report also studies the impact of the COVID-19 pandemic on the global turbocompressor market in detail.
The global turbocompressor market is mainly driven by the growing demand for turbocompressors in the automotive industry and oil and gas industry. The automotive industry uses turbocompressors in HVAC applications. The heating, cooling, and ventilation applications in automotive applications have taken on great importance in recent years, as customers have become increasingly demanding regarding the availability of amenities and luxuries in automobiles. With growing disposable income, the demand for premium automobiles has grown rapidly over the last few years. Premium automobiles need to incorporate high-grade HVAC equipment in order to provide a comfortable user experience. High-class HVAC equipment has also been incorporated in mid-range cars in recent years in order to make the propositions more attractive to consumers. Growing demand for effective HVAC equipment in cars is likely to remain a major driver for the global turbocompressor market over the forecast period. The growing automotive industry is thus likely to be a major driver for the turbocompressor market over the forecast period.
The oil and gas industry is also a major consumer of turbocompressors. The growing natural gas production around the world has been a major driver for the turbocompressor market in recent years. Natural gas has emerged as a more attractive proposition in terms of fuel choices due to the fact that it burns more cleanly than petrol or diesel and doesn’t produce as much toxic emissions. Many countries have prioritized natural gas over other petroleum fuels in recent years in order to reduce their overall environmental impact. Natural gas and CNG is also being prioritized in automotive applications due to its cleaner burning properties. This is also likely to remain a major driver for the global turbocompressor market over the forecast period.
Competitive Leaderboard:
Leading players in the global turbocompressor market include Bauer Compressors Inc., Atlas Copco AG, Elliott Group, Sullivan-Palatek Inc., Man Diesel & Turbo SE, Kobe Steel Ltd., Howden Group Ltd., SKF, Rotating Machinery Services Inc., GE Oil & Gas, Siemens AG, Mitsubishi Heavy Industries Ltd., Sulzer Ltd., Sundyne Corporation, Hitachi Ltd., Ingersoll Rand, Gardner Denver Inc., and Kawasaki Heavy Industries Ltd.
In May 2020, Celeroton launched a new electrically driven, gas bearing, and high-speed turbocompressor named CT-NG-2000.
Segmentation:
The global turbocompressor market is segmented on the basis of stage, type, application, and region.
By stage, the global turbocompressor market is segmented into single stage and multi stage.
By type, the global turbocompressor market is segmented into centrifugal and axial.
By application, the global turbocompressor market is segmented into oil and gas, chemical, offshore, power generation, and others.
Regional Analysis:
Asia Pacific accounts for a major share in the global turbocompressor market and is likely to retain a major share over the forecast period due to the growing automotive and oil and gas industries in the region. China is likely to remain a major regional entity in the global turbocompressor market over the forecast period due to the growing oil and gas industry in the region.
North America is also a major regional market for turbocompressors. The shale boom has been a major driver for the oil and gas industry in North America and is likely to drive the demand for turbocompressors over the forecast period.
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