Global Turbocompressor Market - Growth, Trends, and Forecast (Outlook to 2028)

Global Turbocompressor Market - Growth, Trends, and Forecast (Outlook to 2028)

The global turbocompressor market is largely driven by the growing number of wastewater treatment plants, increasing global LNG trade, increasing investments in the power generation sector, and increasing adoption of Turbocharged Gasoline Direct Injection (TGDI) technology in automobiles has increased the demand for the market.

Turbo Compressors are primarily used in the processing and transmission of natural gas. They are also used in the storage segments of the oil and gas industry. Their application areas include oil refineries, chemical and petrochemical plants. Thus the increased trade and growth of natural gas is majorly driving the global market.

A turbocompressor is an overhung machine. Turbocompressors belong to the roto-dynamic type of compressors. The impeller of a turbocompressor that imparts energy to the fluid sits at one end of the rotor after the bearings. In these compressors, the required pressure rise occurs due to the continuous conversion of angular momentum imparted to the fluid by a high-speed impeller into static pressure.

In a turbocompressor, gas continuously enters a rotating impeller through which mechanical shaft power is distributed to the fluid with the aid of the vanes, resulting in significant pressure and temperature increases. The remaining kinetic energy is then converted to pressure primarily in the diffuser.

Turbocompressors provide various advantages such as high efficiency of the energy conversion and high reliability, thereby boosting demand for turbocompressors, which is expected to drive the growth of the global turbocompressor market over the forecast period. In addition, increasing adoption of turbocompressors in various end use industries such as oil & gas, power generation, and chemical industry is expected to propel the growth of the target market over the forecast period. Furthermore, technological innovations in turbocompressors by manufacturers operating in the target market are another factor expected to support the growth of the global turbocompressor market over the forecast period.

The turbocompressors help to eliminate pressure surges in the injected gas. They are sometimes used for the supercharging of piston engines. Additionally, turbocompressors are used in all aspects of natural gas development.

A turbocharger, or colloquially turbo, is a turbine-driven forced induction device that increases an internal combustion engine's efficiency and power output by forcing extra air into the combustion chamber. This improvement over a naturally aspirated engine's power output is because the compressor can force more air-and proportionately more fuel into the combustion chamber than atmospheric pressure (and, for that matter, ram air intakes) alone.

Advantages of turbocompressors:

High power density and therefore small physical dimensions and low weight.

High reliability, due to only one rotating part and proven technology

High efficiency of the energy conversion and low noise level.

The ecosystem of the global turbocompressor market starts with the manufacture of basic components, such as valves, bearings, motor, engine, plates, inlet fins, filters, regulator, storage tank, piston, controllers, among others. The original equipment manufacturer (OEM) then assembled the manufactured parts. So OEM's services such as maintenance, provide sale of general industrial equipment and provide continuous monitoring and support.

Types of Turbocompressor:

Based on type:

Based on air compression stages: single-stage, 2-stage

Based on cooling medium: oil-cooled, water-cooled, or air-cooled

Based on pressure: low, medium

Some of the Supportive Policies:

Aid Programs for energy efficiency actions in SMEs and large companies in the industrial sector.

Increasing energy safety programs in storing and transportation of natural gas.

Turbocompressor Market opportunities:

The growing popularity of green hydrogen

The rise in manufacturing activities in APAC and LAMEA regions

Turbocompressor Market Challengeš:

High installation and maintenance cost

Stringent government regulations

Fluctuating raw material prices

Most turbocompressor-manufacturing companies are based in Europe, where market growth is slow. To counter the economic slump in European countries, turbocompressor manufacturers are trying to increase their geographic presence and market penetration in other regions by launching new and advanced products and technologies.

Turbocompressor Market Restraints:

The growing share of renewable energy and electric vehicles.

Increasing demand for oil-free compressors.

The maturing European manufacturing industry and the development of rotatory screw compressors are major restraints of the turbocompressors market.

Turbocompressor Market Recent Developments:

In March 2019, Sulzer and Tamturbo formed a partnership to work on new compression solutions for clients in pulp and paper, mining, and chemical processing. The partnership brings together Sulzer's sales channels and experience in product development with Tamturbo's ability to validate technologies in different applications.

In March 2018, PTSC Mechanical & Construction contracted MAN Diesel & Turbo to supply two compressor trains for the Sao Vang and Dai Nguyet gas fields development in the Nam Con Son basin offshore southern Vietnam.

In the forecast period, the largest end-user segment for turbocompressors is the oil and gas sector. The demand for these compressors has increased substantially in this sector, owing to increasing power generation and gas stations.

In terms of type, centrifugal turbocompressors are estimated to account for the largest market share; however, the market for axial turbocompressors is set to grow at a faster rate due to their extensive use in LNG transport and crude oil refineries. In addition, centrifugal turbocompressors are widely used in chemical and pharmaceutical-manufacturing companies.

With regard to application, the oil & gas sector is the largest end-user of turbocompressors, as turbocompressors are used in almost all the stages of the oil & gas industry, from the extraction of oil & gas to its transport and storage.

The study presents a detailed analysis of various factors that affect Global Turbocompressor Market revenue. In addition, the study also comprehensively analyses the turbocompressor market by segmenting it based on geography (Asia-Pacific, North America, South America, Europe, ROW), based on the operation (Physical displacement Gas Compressor, Dynamic Gas Compressor, Lithium-based battery Gas Compressor).

Blackridge Research's Global Turbocompressor Market report provides insights into the current global and regional market demand scenario and its outlook.

The report also addresses present and future market opportunities, trends, developments in the Global Turbocompressor Market, critical commercial developments, regions, and segments poised for the fastest-growing, competitive landscape.
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