Gas Jet Compressor Market Forecasts to 2030 – Global Analysis By Compressor Type (Single-Stage and Multi-Stage), Pressure Range (Low Pressure, Medium Pressure and High Pressure), Depth, Technology, End User and by Geography

Gas Jet Compressor Market Forecasts to 2030 – Global Analysis By Compressor Type (Single-Stage and Multi-Stage), Pressure Range (Low Pressure, Medium Pressure and High Pressure), Depth, Technology, End User and by Geography

According to Stratistics MRC, the Global Gas Jet Compressor Market is accounted for $3141.79 million in 2024 and is expected to reach $4584.32 million by 2030 growing at a CAGR of 6.5% during the forecast period. A gas jet compressor is a kind of ejector that works without any moving parts by using high-pressure gas to drive and compress another gas stream. It accelerates the driving gas and produces a low-pressure zone by transforming its pressure energy into kinetic energy via a converging nozzle. Moreover, entrainment of the secondary, low-pressure gas is made possible by this low-pressure region, which mixes it with the high-velocity driving gas. Because of their dependability, low maintenance requirements, and capacity to handle a variety of gases, including toxic and corrosive ones, gas jet compressors are extensively utilized in sectors like refrigeration, chemical processing, and petrochemicals.

According to the International Energy Agency (IEA), global gas demand is anticipated to grow by approximately 2.5% in 2024, driven by increasing consumption in Asian markets and recovering industrial demand in Europe.

Market Dynamics:

Driver:

Need for energy efficiency

Due to economic and environmental factors, energy efficiency is becoming more important in all industries. Higher operating efficiencies are being designed into gas jet compressors to minimize energy consumption and lower operating costs. Innovative technologies that improve performance while using less energy are becoming more and more important to manufacturers. Additionally, energy-efficient compressors are in high demand as a result of this trend, which is in line with international efforts to reduce carbon footprints and accomplish sustainability goals.

Restraint:

Expensive initial investment costs

The high upfront costs of buying and installing new compressors are one of the main factors limiting the market for gas jet compressors. Advanced gas jet compressor systems can be expensive to purchase, which puts off some potential customers, particularly small and medium-sized businesses. Furthermore, many businesses may prioritize other investments over updating or purchasing new compression technology as a result of this financial burden, which can limit their ability to enter new markets and expand.

Opportunity:

Growing natural gas demand

There are a lot of opportunities for gas jet compressor manufacturers due to the growing demand for natural gas as a cleaner substitute for coal and oil on a global scale. Because of its lower emissions, natural gas is increasingly being chosen as nations work to lessen their carbon footprints and switch to more sustainable energy sources. This pattern is especially noticeable in areas like Asia-Pacific and North America, where investments in natural gas infrastructure are growing quickly. Moreover, gas jet compressors are crucial for the effective storage and transportation of natural gas, putting producers in a position to profit from this expanding market niche.

Threat:

Intensive competition in the market

There is fierce competition in the gas jet compressor market, with many well-established companies and recent arrivals fighting for market share. Price wars, in which businesses lower their prices to draw clients, can result from this fierce competition and eventually squeeze profit margins. Smaller manufacturers may also find it difficult to keep up with rivals who make significant investments in R&D to innovate and differentiate their products. Additionally, profitability and innovation may be hampered by the pressure to maintain competitive pricing while maintaining quality.

Covid-19 Impact:

The COVID-19 pandemic had a major effect on the gas jet compressor market, causing supply chain disruptions and a drop in demand as a result of worldwide shutdowns. Delays in acquiring components and raw materials, especially from areas severely impacted by the pandemic, were a problem for many manufacturers and limited their ability to produce. Furthermore, the pandemic's economic uncertainty resulted in lower capital expenditures across industries that depend on gas jet compressors, especially those in the power generation, chemical processing, and oil and gas sectors. However, a market recovery is anticipated as industries adjust and recover, propelled by the continuous development of natural gas infrastructure and rising investments in greener energy sources.

The Medium Pressure segment is expected to be the largest during the forecast period

The market for gas jet compressors is dominated by the medium-pressure segment. Because of their adaptability and efficiency in managing a variety of applications, medium-pressure compressors are extensively used in a wide range of industries, including power generation, chemical processing, and oil and gas. The capacity of these compressors to effectively compress gases at pressures appropriate for processing and transportation applications makes them especially valuable. Moreover, they are a popular option for businesses wishing to upgrade their infrastructure without requiring major changes because of their design, which frequently makes it simpler to integrate them with current systems.

The Ultra Deep Water Drilling segment is expected to have the highest CAGR during the forecast period

The ultra-deep water drilling segment of the gas jet compressor market is anticipated to grow at the highest CAGR. The rising demand for natural gas and oil worldwide, especially as traditional onshore supplies run out, is driving this market's rapid expansion. In order to extract hydrocarbons from depths greater than 1,500 meters, ultra-deep water drilling necessitates the use of specialized equipment, such as gas jet compressors, and cutting-edge technologies to ensure safe and effective operations. Additionally, investments in ultra-deep water projects are being driven by the growing emphasis on exploring new offshore drilling frontiers as well as improvements in drilling technologies and techniques.

Region with largest share:

The North American region has the largest market share in the gas jet compressor industry. The strong oil and gas industries in the US and Canada are the main drivers of this dominance, as gas jet compressors are necessary for effective gas processing and transportation. The demand for these compressors is further increased by the region's emphasis on cleaner energy sources, such as hydrogen and natural gas, as businesses work to cut emissions and meet sustainability goals. Furthermore, the market leadership of North America is also a result of large investments in infrastructure development and technological developments in compressor systems.

Region with highest CAGR:

The gas jet compressor market is expected to grow significantly in the Middle East and Africa, with the highest CAGR. The region's enormous oil and gas reserves as well as continuous investments in energy infrastructure, especially in nations like Saudi Arabia and the United Arab Emirates, are major contributors to this growth. The Middle East is concentrating on increasing its capacity to produce and process natural gas in order to satisfy both local and global energy demands. Moreover, the need for gas jet compressors is further increased by programs meant to diversify energy sources and improve the effectiveness of gas transportation systems.

Key players in the market

Some of the key players in Gas Jet Compressor market include Baker Hughes, GEA Group Aktiengesellschaft, Schlumberger, Honeywell International Inc., Bauer Compressors Inc., Ingersoll Rand Inc, Atlas Copco AB, Kadant Inc, Forbes Marshall, Siemens Energy, Ariel Corporation, Howden Group Ltd, Croll Reynolds, Körting Hannover GmbH and Burckhardt Compression Holding AG.

Key Developments:

In July 2024, Honeywell has entered into a long-term agreement with Air India Limited, India’s premier global airline and a part of the Tata Group, to provide Auxiliary Power Unit (APU) aftermarket support for both the existing and new fleets. This agreement ensures comprehensive maintenance for Honeywell APUs, enhancing aircraft dispatch reliability, fleet availability, and reducing unplanned maintenance costs across Air India’s fleet.

In June 2024, Baker Hughes, an energy technology company, announced it has entered into a new 10-year services frame agreement with Woodside Energy to support its LNG operations in Australia. Under the multi-year services frame agreement, Baker Hughes will provide spare parts and field service resources for onsite turbomachinery equipment maintenance and upgrades, equipment refurbishment and advanced digital asset performance services.

In March 2024, Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to acquire ILC Dover (“ILC”) from New Mountain Capital, LLC, a leading growth-oriented investment firm with approximately $50 billion in assets under management.

Compressor Types Covered:
• Single-Stage
• Multi-Stage

Pressure Ranges Covered:
• Low Pressure
• Medium Pressure
• High Pressure

Depths Covered:
• Shallow Water
• Deep Water Drilling
• Ultra Deep Water Drilling

Technologies Covered:
• Drilling Riser
• Blowout Preventer
• Seafloor Pumping

End Users Covered:
• Oil Exploration and Production
• Chemical Processing Plants
• Power Generation Plants
• Food Processing Plants
• Pharmaceutical Manufacturing
• HVAC (Heating, Ventilation, and Air Conditioning) Systems
• Aerospace and Defense
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances