Oil & Gas Industry Gas Compressor Market 2020| Top Manufacturers, Regions, Market Distribution, Market Size & Growth, Supply Demand Scenario, Type & Application and Forecast to 2023
The Global Oil & Gas Industry Gas Compressor Market 2020-2023 Research Report provides idealistic and determined details of the Oil & Gas Industry Gas Compressor Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Oil & Gas Industry Gas Compressor market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.
The Oil & Gas Industry Gas Compressor Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2020 – 2023
- Atlas Copco Ltd
- General Electric
- Ingersoll Rand Plc
- Siemens AG
- Sulzer Ltd
- Kobe Steel Ltd.
- Ariel Corporation
- Bauer Compressors Inc
- Burckhardt Compression AG
- Ebara Corporation
- Gardner Denver
- PSG Technologies
The Oil & Gas Industry Gas Compressor Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Oil & Gas Industry Gas Compressor Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.
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Summary of Oil & Gas Industry Gas Compressor Market:
Oil & gas industry amounts to more than 50% of the global gas compressor market. Growth in gas compressor market is closely linked with oil & gas prices. For example, after the drop in oil & gas prices during 2014, major leaders in gas compressor market, such as Atlas Copco and Ingersoll Rand registered stagnancy in the annual revenue for the financial year 2015-16 compared to annual revenue in the financial year 2014-15. The oil prices are expected to increase during the forecast period, which in turn, is expected to drive the market.
Growing Gas Demand to Drive the Market
Rising electricity demand in emerging markets, such as India, China, Brazil, and Mexico are expected to drive the natural gas demand in power generation sector. Apart from that, global demand for natural gas is expected to rise as natural gas is more environment-friendly compared to other fossil fuels, such as oil, and there is a global trend towards consumption of cleaner fuel owing to concerns about air pollution and global warming. Hence, the share of the gas in total global energy consumption is expected to grow, while the share of oil is expected to drop during the forecast period. As a result of this trend, the oil & gas industry is expected to move towards gas from oil, in turn driving the demand for gas compressors in oil & gas industry.
Technological Advancements to Drive the Market
Technological advancements to make the compressor more energy efficient and environmental friendly, allowing replacement of the higher number of existing conventional compressor units economically viable, which in turn, is expected to increase the demand for the gas compressors. A good example is, in 2013, Atlas Copco launched GA VSD+ compressor. This model has registered substantial success, as it can reduce the energy consumption up to 50% compared to the conventional compressor, making replacement of old compressors with advanced compressors an economically viable option.
Asia-Pacific Region to Experience Substantial Market Growth
Asia-Pacific is home to some of the largest consumer and largest importer countries of natural gas in the world. This region is still primarily dependent on oil and coal for its energy needs. But recent trend is towards increasing use of natural gas owing to growing concerns over the air pollution. Power generation and manufacturing industry are the biggest consumers of natural gas in this region. Increasing demand for electricity in countries, such as India and China is expected to drive natural gas demand. Urbanization and increasing middle class countries in Asia Pacific region are expected to drive the growth of residential gas consumption. One of the major obstacles faced by countries in Asia-Pacific region, such as India and China is lack of infrastructure for domestic production and supply of the gas, which is constraining the gas consumption. In order to address the problem, the countries in the region are expected to invest heavily in upstream, midstream, and downstream gas industry, which in turn is expected to drive the gas compressor market in the region.
Shale Gas Production and Replacement of Older Compressors to Drive US Market
Gas compressor market in the US is expected to register a considerable growth due to increased shale gas production, as well as increasing oil & gas activities in the country. Also as of 2015, it was estimated that more than half of the positive displacement gas compressors in the US were more than 30 years old. Many of these old compressors are expected to be replaced in coming years, in turn driving the gas compressor market in the country.
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Reasons to Purchase this Report:
The Oil & Gas Industry Gas Compressor Market 2020-2023 Analysis objectives of the report are:
- To analyze Oil & Gas Industry Gas Compressor Market regarding growth trends, anticipation and also their participation in the entire sector.
- To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
- To know the Oil & Gas Industry Gas Compressor Market by distinguishing its many sub-segments.
- To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2020 and also prediction to 2023.
- To profile the Leading players in the industry and analyze their growth plans.
- To venture the amount and value of sub-markets, depending on key regions.
- Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
- To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Oil & Gas Industry Gas Compressor Market of many Oil & Gas Industry Gas Compressor Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Oil & Gas Industry Gas Compressor Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Oil & Gas Industry Gas Compressor Market competitors.
Mr. Ajay More
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