Axial Compressor Market by Flow Capacity (High-capacity Axial Compressors, Low-capacity Axial Compressors), Working Principle (Multi-stage Axial Compressors, Single-stage Axial Compressors), End-User - Global Forecast 2024-2030

Axial Compressor Market by Flow Capacity (High-capacity Axial Compressors, Low-capacity Axial Compressors), Working Principle (Multi-stage Axial Compressors, Single-stage Axial Compressors), End-User - Global Forecast 2024-2030

The Axial Compressor Market size was estimated at USD 2.86 billion in 2023 and expected to reach USD 3.02 billion in 2024, at a CAGR 5.66% to reach USD 4.22 billion by 2030.

An axial compressor refers to a gas compressor that can continuously pressurize gases. It is named for the direction of the flow of the gas through the compressor. The rotor moves the gas along the axis of the rotor, compressing the volume as the pressure increases throughout the stages of the compressor. This type of compressor is used widely in high-speed, large-volume applications, including in the aerospace industry for jet engines, natural gas pumping stations, and certain chemical plants. The continued growth and modernization of the aerospace sector significantly drive the demand for axial compressors. The expansion and upgrading of energy production facilities, particularly those involving gas turbines, also foster a strong demand for axial compressors. However, axial compressors are highly sensitive to changes in operating conditions, which can affect their efficiency and performance. Complexities in the design, development, and integration of the components can also present challenges. However, continued innovation in aerospace technology, including new propulsion systems, offers significant opportunities for advancements in axial compressor design and application and can overcome the performance and technical limitations of the equipment. The burgeoning renewable energy sector presents a growing market for axial compressors, especially in applications related to hydrogen fuel production and storage.

Regional Insights

In the Americas, the United States and Canada are pivotal nations for axial compressors, primarily driven by the highly developed aerospace and defense, oil & gas, and power generation industries. The United States, being a hub for technological advancements, has a robust demand for efficient and high-performance axial compressors. Consumers in these regions highly prioritize energy efficiency, reliability, and operational excellence. Investment in research for optimizing axial compressor design for reduced environmental impact is notable. The European Union (EU) countries exhibit a strong focus on environmental sustainability and energy efficiency, influencing the axial compressor market's trajectory. Stringent EU regulations on emissions and energy consumption compel manufacturers to invest in R&D for eco-friendly and efficient compressors. The demand in Europe is characterized by high expectations for reliability and performance, alongside the integration of smart and connected technologies for predictive maintenance and operational optimization. The ongoing EU-funded initiatives aim to foster innovations in compressor technology that align with the Green Deal's objectives. In the Middle East and Africa, the demand for axial compressors is significantly driven by the oil & gas sector, with countries aiming to bolster their refining capacities and petrochemical production. The APAC region, including China, Japan, and India, represents a rapidly growing market for axial compressors fueled by extensive urbanization, industrial growth, and infrastructure development. China, leading in manufacturing and exports, focuses on high-volume production and competitive pricing. Japan, known for its technological prowess, invests in high-efficiency and precision-engineered compressors. India's market is driven by the demand from the power generation and manufacturing sectors, with an increasing focus on energy-efficient compressors.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Axial Compressor Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increased government spending on the aerospace and defense sector and modernization of the aerospace sector
• Growing need for advanced agricultural equipment for precise fertilizer application

Market Restraints

• Stringent maintenance requirements and complexities in assembling components

Market Opportunities

• Innovations to improve the performance, efficiency, and functionality of axial compressors
• Expansion of oil and gas projects across the world

Market Challenges

• Sensitivity to changes in operating conditions and performance limitations

Market Segmentation Analysis

• Flow Capacity: Emerging usage of high-capacity axial compressors in large-scale industrial processes
• End-User: Extensive use of axial compressors in the aerospace industry in aircraft engine designs

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Axial Compressor Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Axial Compressor Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Atlas Copco expands India operations, begins work on new unit in Maharashtra

Atlas Copco, a player in the production of compressors, vacuum solutions, generators, pumps, power tools, and assembly systems, has initiated the construction of its advanced manufacturing facility located in Talegaon, Pune. The facility would focus on the production of air and gas compressor systems. The facility spans an area of approximately 270,000 square feet, which includes both manufacturing and office spaces.

Adnoc awards USD 700 million contract to UK-based engineering and construction giant

Petrofac, an engineering and construction firm listed in the UK, has secured a significant contract worth USD 700 million from the Abu Dhabi National Oil Company (Adnoc). This onshore engineering, procurement, and construction (EPC) project is set to enhance the Habshan Complex, situated west of Abu Dhabi, by adding a new gas compressor plant. The development would encompass the construction of three gas compressor trains along with essential utilities and power systems.

Sauer to unveil new gas compressors

Sauer Compressors has announced the unveiling of its innovative SAUER Orkan series alongside an expansion of its Hurricane series at the Hannover Messe 2023. The SAUER Orkan series is an innovative solution engineered to meet both the current and emerging needs within the gas industry. This new series of gas compressors is associated with versatility, being apt for the compression of a wide array of gases across numerous applications.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Axial Compressor Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Axial Compressor Market, highlighting leading vendors and their innovative profiles. These include AB SKF, ANEST IWATA USA, Inc., Apcon Technology, Atlas Copco AB, Baker Hughes Company, Chart Industries, Inc., CryoStar SAS, DAC Worldwide, Ebara Elliott Energy, General Electric Company, Ingersoll Rand Inc., Kawasaki Heavy Industries, Ltd., Kobe Steel Ltd, MAN Energy Solutions SE, Mantra Energy LLC, Mitsubishi Corporation, MITSUI E&S Co., Ltd., Rotating Machinery Services, Inc., Shaanxi Blower (Group) Co., Ltd., Siemens AG, Sollant Group, Sulzer Ltd, and Wärtsilä Corporation.

Market Segmentation & Coverage

This research report categorizes the Axial Compressor Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Flow Capacity
• High-capacity Axial Compressors
• Low-capacity Axial Compressors
• Working Principle
• Multi-stage Axial Compressors
• Single-stage Axial Compressors
• End-User
• Aerospace
• Chemical
• Marine
• Oil & Gas
• Power Generation

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year