New York, US, May 25, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Reciprocating Compressor Market Information by Product, Type, Cooling, Output Power, Portability, Stage, End-Use and Region - Forecast till 2032”, Reciprocating Compressor Market could thrive at a rate of 5.90% between 2023 and 2032. The market size will be reaching around USD 7.0 Billion by the end of the year 2032
Reciprocating Compressor Market Overview
A reciprocating compressor is a type of positive displacement compressor that uses reciprocating piston action to compress gases. It is commonly used in industries such as oil and gas, petrochemicals, and chemicals. Reciprocating compressors are highly efficient and reliable, making them ideal for a range of applications.
Reciprocating compressors are used in a variety of applications, including refrigeration, air conditioning, natural gas processing, and gas transportation. They are also used in the food and beverage industry for bottling and canning processes. The oil and gas industry is the largest market for reciprocating compressors, which are used for gas lift, gas injection, and gas processing.
Market Competitive Landscape:
The affluent companies in the Reciprocating Compressor industry include
- Atlas Copco
- Siemens
- Ingersoll Rand
- GE
- Gardner Denver
- Kobe Steel
- Burckhardt Compression
- Howden
- Dresser-Rand (a Siemens company)
- Sundyne (a Dover Corporation company)
- Among others.
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December 2020
Siemens Energy announced that it had secured an order from Russian company Gazprom Neft to supply four reciprocating compressors for the Novoportovskoye oil and gas field in Siberia. The compressors will be used to increase the field's oil and gas production.
Reciprocating Compressor Market COVID 19 Analysis
The COVID-19 pandemic has caused unprecedented disruptions to global supply chains and economic activity, which has had a significant impact on the reciprocating compressor market. The pandemic has resulted in reduced demand for compressors in various industries, including oil and gas, petrochemicals, and mining. The slowdown in economic activity has also led to delays in capital investments, which has further affected the demand for compressors.
However, as the world recovers from the pandemic and economies start to reopen, the demand for reciprocating compressors is expected to rebound. The pandemic has highlighted the importance of energy efficiency and sustainability, which is expected to drive growth in the market for energy-efficient compressors. The need for improved energy efficiency and lower operating costs is likely to drive investments in newer and more advanced technologies, such as variable speed drives and smart control systems.
Report Scope:
| Report Metrics | Details |
| Market Size 2032 | 2032: USD 7.0 Billion |
| CAGR during 2023-2032 | 5.90% CAGR |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Lubrication, and Region |
| Key Market Opportunities | Increasing requirement for cost-efficient compressors. |
| Key Market Dynamics | Growing demand in various end-use industries. |
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Reciprocating Compressor Market USP Covered:
Market Drivers:
The demand for energy-efficient compressors is increasing due to the need to reduce energy consumption and operating costs. In response, many manufacturers are developing new technologies to improve compressor efficiency, such as advanced control systems, variable speed drives, and optimized design. These technologies help to reduce energy consumption, improve reliability and performance, and lower maintenance costs.
The increasing use of natural gas is also driving growth in the reciprocating compressor market. Natural gas is a cleaner and more efficient energy source than traditional fuels such as coal and oil. It is widely used in industries such as power generation, transportation, and manufacturing, which require large volumes of compressed gas. Reciprocating compressors are ideal for natural gas compression due to their high efficiency and reliability.
The expansion of the oil and gas industry is another key driver of the reciprocating compressor market. The demand for oil and gas is increasing due to the growing global population and the increasing need for energy in developing countries. Reciprocating compressors are widely used in the oil and gas industry for gas processing, gas lift, and gas injection applications. They are also used for gas transportation and storage, making them a critical component of the industry's infrastructure.
Market Restraints:
The high initial cost of reciprocating compressors can be a significant restraint for the market. The cost of the equipment varies depending on the size and capacity of the compressor, but it can be substantial. This can make it challenging for smaller companies or those with limited budgets to invest in reciprocating compressors. Additionally, the maintenance and operational costs of these compressors can also be high, which can further deter some companies from investing in them.
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Reciprocating Compressor Market Segmentation
By Product
The Product in the market includes Horizontal and Vertical.
By Type
The Type in the market includes Oil-Free and Oil-Lubricated.
By Cooling
The Cooling in the market includes Air-Cooled and Water-Cooled.
By Output Power
The Output Power in the market includes Up to 100 kW, 100 kW–300 kW, 300 kW–500 kW, and above 500 kW.
By Portability
The Portability in the market includes Stationary and Portable.
By Stage
The Stage in the market includes Single Stage and Multi-Stage.
By End-Use
The End-Use in the market includes Oil & Gas, Chemical & Petrochemicals, Power Generation, Food & Beverage, Pharmaceuticals, Metals & Mining, and Others.
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Reciprocating Compressor Market Regional Insights
North America, Europe, and Asia Pacific are the largest markets for reciprocating compressors. North America is driven by the oil and gas industry, while Europe is driven by the food and beverage industry. The Asia Pacific region is expected to see significant growth in the coming years due to the increasing demand for natural gas and the expansion of the oil and gas industry in the region.
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