Rockville, Aug. 10, 2023 (GLOBE NEWSWIRE) -- As per a newly published research report by Fact.MR, a market research and competitive intelligence provider, the global Reciprocating Compressor Market is valued at US$ 4.46 billion in 2023, with worldwide demand for reciprocating processors predicted to rise at a CAGR of 6% from 2023 to 2033. Growth of the oil & natural gas sector is set to push the demand for reciprocating compressors.
Use of reciprocating compressors is expected to rise in the pharmaceutical and healthcare sectors. Furthermore, increased investments in various countries and advancements in medical technology are anticipated to create growth opportunities in the market.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8785
Reciprocating compressors, also known as displacement machines, employ a piston to compress gas and deliver it at high pressure. They are capable of handling gases with a higher mass.
Key Takeaways from Market Study
- The global reciprocating compressor market was valued at US$ 4.2 billion in 2022.
- Worldwide demand for reciprocating compressors is estimated to reach a market value of US$ 4.46 billion in 2023.
- The global market is projected to expand at 6% CAGR through 2033.
- The industry is set to reach a valuation of US$ 8 billion by 2033-end.
- Demand for oil-free reciprocating processors is predicted to increase significantly over the decade.
“Increasing attention towards crosshead vibration reduction along with early damage & fault detection is estimated to present lucrative opportunities for manufacturers of reciprocating compressors,” says a Fact.MR analyst.
Adaptability and High Efficiency of Reciprocating Compressors
Reciprocating compressors offer numerous benefits, such as high efficiency, effectiveness in intermittent cycles, adaptability, and the ability to generate increased pressure. These compressors find extensive use in refineries for oil, pipelines, chemical plants, and various other industries, presenting favorable opportunities for industry players.
Oil & Gas Industry Key End User
The reciprocating compressor space is predicted to expand due to the significant expansion of the oil & gas sector. Oil and gas are considered as popular trustworthy energy sources. Reciprocating compressors are widely used in various natural gas applications due to their capability to handle varying pressures and volume capacities effectively.
The pressure of natural gas can be adjusted based on the type of compressor used. Compressors also play a crucial role in maintaining the appropriate pressure level in a reservoir. Studies conducted by various countries indicate that natural gas found in petroleum needs to be compressed by 95%. As a result, a significant amount of petroleum is required before transit to increase the gas pressure. These factors are driving the increased demand for reciprocating compressors to maintain the required pressure.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8785
Winning Strategy
Market players are entering into partnerships to expand their footprints across geographies.
For instance:
- In August 2019, MARELLI, a prominent supplier of automobiles, forged a partnership with Shanghai Highly Co., Ltd., and Hitachi Air Conditioning, which is controlled by Shanghai Highly. As a significant part of the agreement, MARELLI and Shanghai Highly agreed to an equity transfer.
Gardener Denver, Blade Compressors LLC, Lontra, MARELLI, Burckhardt Compression AG, Shanghai Highly Co., Ltd., Atlas Copco, Hitachi, Sundyne, Howden Group, and Siemens AG are some prominent companies manufacturing reciprocating compressors.
Competitive Landscape
Industry players are investing at a significant rate in maintaining product standards, ensuring quality control, strengthening supply chain management systems, and other purposes.
New developments, agreements, and collaborations are some key strategies adopted by prominent players to expand their footprints.
For instance:
- Garden Denver, in March 2022, launched its piston compressor. This product is utilized in mass fluids that travel from solvents to pitches. This compressor has a two-cylinder in-line design with a small surface area that offers room for some additional off-loading and on-loading equipment.
- In October 2020, Lontra signed a partnership agreement with Blade Compressors, LLC, based in Jeffersonville, Indiana, the United States. The primary aim of this agreement is to facilitate the distribution of Lontra Blade Compressors' current and upcoming products in the North American market.
Segmentation of Reciprocating Compressor Industry Research
- By Type:
- Portable
- Stationary
- By Lubrication:
- Oil-free
- Oil-filled
- By Application:
- Upstream Oil & Gas
- Refineries
- Industrial Gases
- LNG (Liquefied Natural Gas) & CNG (Compressed Natural Gas) Transport & Storage
- Ethylene & LDPE (Low-Density Polyethylene) Plants
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the reciprocating compressor market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (portable, stationary), lubrication (oil-free, oil-filled), and application (upstream oil & gas, refineries, industrial gases, LNG [liquefied natural gas] & CNG [compressed natural gas] transport & storage, ethylene & LDPE [low-density polyethylene] plants), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa).
Checkout More Related Studies Published by Fact.MR Research:
Reciprocating Compressor Components Market: The major factor driving the growth of the reciprocating compressor components market is the increasing adoption of reciprocating compressors in the iron and steel production process. Asia Pacific is expected to witness the highest growth over the forecast period.
Swing Compressor Market: The manufacturing industry has seen a skyscraping surge over the last three decades owing to an increase in high disposable income among millennials is an evident sign for the swing compressor market.
Portable Compressor Market: Portable Compressor market is set to observe a decent growth rateand is projected to record a CAGR of 4.0% during 2021-2031.Increasing cognizance for energy efficient, low maintenance devices and growing industrialization are projected to drive demand.
About Us:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube
