Turbocompressors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Turbocompressors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global turbocompressors market size reached US$ 18.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.15% during 2022-2028.

Turbocompressors are widely used in process plants to concentrate a compressible gas via dynamic principles. They also find application in the gas supply chain, energy recovery, and power generation during natural gas processing and petrochemical production. At present, they are widely available in various types, depending on the requirement of end users. For instance, water turbocompressors help produce refrigerants for the liquefaction of gases, such as oxygen, nitrogen, and helium, in different industrial processes. In addition, product variants operated by radial turbines provide a large capacity to absorb or deliver power, which helps boost the power of diesel engines.

Turbocompressors Market Trends:
Surging energy needs, along with a rapid rise in the installation of turboexpanders in offshore oil production sites, represents one of the major factors fueling the demand for turbocompressors in oil and gas facilities across the globe. Moreover, industries worldwide are emphasizing upgrading their existing turbocompressors with the latest high-efficiency impellers, blades, and sealing technologies. This is propelling leading players in improving the overall performance and reducing operational expenditures (OPEX) of machines. Apart from this, due to high requirements on efficiency and optimized specific power consumption, these players are focusing on improving the aerodynamic features of rotating equipment. They are also introducing lightweight, compact, and high-performance product variants with low energy costs and user-friendly microprocessors to stay competitive in the market. These variants have high power density and reliability, which help reduce the noise level and save fuel, resources, and energy. This, coupled with the boosting sales of vehicles on account of inflating income levels, is anticipated to increase the utilization of turbocompressors in the automotive industry for a reliable and cost-effective supply of oil-free compressed air.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global turbocompressors market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, stage and end user.

Breakup by Type:

Centrifugal Compressors
Axial Compressors

Breakup by Stage:

Single Stage
Multi-stage

Breakup by End User:

Oil and Gas
Power Generation
Chemical
Water and Wastewater
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Atlas Copco AB, BorgWarner Inc., Continental AG, Cummins Inc., Eaton Corporation plc, Howden Group Holdings Ltd, Ingersoll Rand Inc., Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE (Volkswagen AG), Mitsubishi Heavy Industries Ltd, Siemens AG and Sulzer Ltd.

Key Questions Answered in This Report
1. How big is the global turbocompressors market?
2. What is the expected growth rate of the global turbocompressors market during 2023-2028?
3. What are the key factors driving the global turbocompressors market?
4. What has been the impact of COVID-19 on the global turbocompressors market?
5. What is the breakup of the global turbocompressors market based on the type?
6. What is the breakup of the global turbocompressors market based on the stage?
7. What is the breakup of the global turbocompressors market based on the end user?
8. What are the key regions in the global turbocompres market?
9. Who are the key players/companies in the global turbocompressors market?