Gas Compressors Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The gas compressors market is expected to register a CAGR of about 3% during the forecast period, 2022-2027. In 2020, as international oil prices declined due to reduced consumption of oil and gas, the demand for gas compressors also witnessed a significant decline during the COVID-19 pandemic. Factors such as the growing demand for natural gas for power generation and the increasing demand for compressors from the pharmaceutical industry are expected to drive the gas compressors market during the forecast period. However, the growing share of renewable energy in the total volume of energy consumption is expected to restrain the growth of the market during the forecast period.
Key HighlightsThe gas compressors market is moderately fragmented. Some of the key players in this market include Ariel Corporation, Atlas Copco AB, Bauer Compressors Inc., Burckhardt Compression Holding AG, and Ingersoll Rand Inc.
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