Which Factors Will Afftect The Global Reciprocating Compressor Market To Achieve Its Goal By 2030?

Reciprocating Compressor Market Highlights

Reciprocating Compressor Market share is expected to grow at 5.90% through 2022 to 2030, reaching USD 5,920.00 Million.

Global Reciprocating Compressor Market is projected to grow at a high rate during the forecast period, primarily due to the increasing exploration and production activities in the oil gas industry. Moreover, technological advancements in reciprocating compressors are expected to present a growth opportunity for the global reciprocating compressor market.

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Report Attribute	Details
Forecast Period	2022 - 2030
Market Growth value	5.90 % CAGR
Revenue forecast in 2022-2030	USD 5,920.00 Million
Base year for estimation	2021
Historical data	2019 – 2020
Unit	USD Billion, CAGR (2021 – 2030)
Segmentation	By Application, By End-Use, and By Region

The reciprocating compressor equipment generally used in the oil gas industry exhibit a linear motion when increasing natural gas pressure. They are commonly used in natural gas compressors as they can handle all volume capacities and pressures. Compared with rotary compressors, they have a variable volumetric flow-rate output, which can still be limited. Besides, these machines have more moving parts. Their mechanical efficiencies are lower, and there may be a need to lubricate the parts occasionally. Moreover, an increase in the demand for these machines can be expected over the next few years. The applications of compressor equipment in the oil gas industry to process fuel-rich materials is one area that cannot be neglected, especially if a company wants to avoid drawing regulatory concerns in the jurisdiction where it provides its services. Depending on the type of machine that is employed, the pressure in natural gas can be enhanced; those held in a reservoir can be preserved with the right amount of pressure. Thus, the growing exploration and production activities in the oil gas industry are expected to drive the growth of the global reciprocating compressor market during the forecast period.

The global market for a reciprocating compressor is segmented based on type, product, cooling, portability, output power, stage, end use, and region. By product, the global market has been segmented into horizontal and vertical. By type, the global market has been segmented into oil-free and oil-lubricated. By cooling, the global market has been segmented into air-cooled compressor and water-cooled compressor. By output power, the global market has been segmented into up to 100kW, 100kW–300kW, 300kW–500kW, and above 500 kW. Based on portability, the global reciprocating compressor market is segmented into stationary and portable compressor. Based on stage, the global reciprocating compressor market is segmented into single-stage and multi-stage compressor. Based on end use, the global reciprocating compressor market is segmented into oil gas, chemical petrochemical, power generation, food beverages, pharmaceuticals, metals mining, and others.

Market Research Analysis

In terms of region, the reciprocating compressor market is segmented into Europe, Asia-Pacific, North America, the Middle East Africa, and South America. Asia-Pacific dominates the reciprocating compressor market. The increasing per capita energy consumption and rising industrialization would drive the reciprocating compressor market in the region.

Asia-Pacific has the largest share in the reciprocating compressor market. Moreover, the region is becoming the center for many industries for manufacturing and other end-use industries. For instance, the construction mining industry are enjoying hefty profits from Asia-Pacific, as the governments are supporting industrialization in emerging economies to increase the GDP of the countries in the region. Furthermore, the FDI and FITs in India, China, Singapore, and South Korea encourage new entrants to enter the market. Due to these facts, there is an increased demand for industrial products and services because of the growing population and rising per capita disposable income. These factors promote the growth of the market for reciprocating compressors in Asia-Pacific as reciprocating compressors are the essential equipment in many industries.

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Scope of the Report

This study provides an overview of the global reciprocating compressors market, tracking seven market segments across five regions. The report studies the key market players, providing a five-year annual trend analysis that highlights market size, and shares for North America, Europe, Asia-Pacific, the Middle East Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments Global Reciprocating Compressors Market by Product, Type, Cooling, Output Power, Portability, Stage, End-Use, and Region.

By Product