Turbo Compressor Market: Introduction
Turbo-compressors are widely preferred for injecting and compressing gases. These compressors are more efficient in comparison to reciprocating compressors as they eliminate the pressure which develops in the injected gas. Turbo-compressors are primarily used for natural gas processing and transmission. Both, axial and centrifugal turbo-compressors are used in gas turbines for compression purposes. Innovations in products coupled with advancement in technology is expected to have a positive impact over the global turbo-compressor market.
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Turbo Compressor Market: Dynamics
Increase in LNG (liquefied natural gas) transport is anticipated to upsurge the demand for turbo-compressors during the forecast period. Furthermore, the emergence of new oil & gas industry in Middle East & Africa region is projected to escalate the demand for turbo-compressors in near future. Additionally, increasing adoption of turbo-compressors in the power generation processes is expected to create lucrative growth opportunities in near future.
Maturity of the product in the European market is expected to hamper the growth of global turbo-compressors during the forecast period. Moreover, introduction of new turbo-compressor technology like the rotary screw compressors is anticipated to restrict the growth of the global turbo-compressor market during the forecast period.
Turbo Compressor Market: Segmentation
On the basis of region, the Asia Pacific is expected to be the most promising and revenue generating region in the global turbo-compressor market due to the presence of large chemical plants, oil refineries, etc. In 2015, the Asia Pacific region held more than 60% share in the global chemical sales market. Moreover, rapid industrialization in Asia Pacific countries like India and China coupled with decline in oil prices is further projected to drive the growth in this region. North America and Europe are projected to witness steady growth during the forecast period. However, increasing LNG trade in North America is expected to fuel the demand for turbo-compressors in near future as they are widely used for storage and gas transportation. Middle East & Africa is expected to witness significant growth in near future. The growth of oil & gas sector in this region is anticipated to escalate the demand for turbo-compressors in this region.
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Turbo Compressor Market: Regional Outlook
Asia-Pacific region is anticipated to experience relatively high growth opportunities during forecast period owning to increased coastal surveillance applications, security threats from sea routes, etc.
North America is also anticipated to hold a prominent foot hold in the global personal floatation devices market due to increasing water recreational activities and defense spending. Increasing concerns of countries towards establishment of innovative technology in coastal surveillance is leading to substantial growth prospects in personal floatation devices across the globe. Furthermore, upcoming army and naval operations across the globe are expected to hike the global personal floatation devices market. Increasing tourism across regions is also anticipated to create demand for personal floatation devices across the regions.
The research report presents a comprehensive assessment of the personal floatation devices market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Turbo Compressor Market: Key Players
Some of the market participants identified in the global turbo-compressor market are mentioned below:
- Sulzer Ltd.
- Siemens AG
- Mitsubishi Heavy Industries Compressor Corporation
- General Electric
- MAN Diesel & Turbo
- Atlas Copco AB
- Kawasaki Heavy Industries, Ltd.
- Howden Group Ltd
- Elliott Group
- Ingersoll Rand
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