Market Size of Asia-Pacific Centrifugal Compressor Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Centrifugal Compressor Market Analysis
The centrifugal compressor market in Asia-Pacific is expected to grow at a CAGR of more than 4.5% during the forecast period of 2020-2025. Oil and gas is the major end-user industry for centrifugal compressors which is likely to drive the market in the forecast period. With growing power demand, the application of centrifugal compressors, and their demand in the power sector is likely to increase further. Natural gas-fired power plants are growing significantly, which requires gas at high pressure using compressors. On the other hand, the oil and gas industry, which is a significant applicant of a centrifugal compressor, has shown a slow growth due to the COVID-19 pandemic in 2020, which can restrain the growth of the centrifugal compressor considerably.
- In the end-user segment, the oil and gas industry is the major end-user for the centrifugal compressor. The growing demand for compressor stations for gas transmission is expected to drive the market in the future.
- Different nations are replacing coal-based power plants to natural gas-based, which is expected to create significant opportunities for compressors for both in transportation and power generation sectors in the future.
- China is expected to dominate the market during the forecast period. The growth in the chemical, oil, and gas refining and processing industries are expected to create a significant market.
APAC Centrifugal Compressor Industry Segmentation
The Asia-Pacific centrifugal compressor market report includes:
| End-User | |
| Oil and Gas | |
| Power Generation | |
| Chemical | |
| Others |
| Geogrpahy | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Centrifugal Compressor Market Size Summary
The Asia-Pacific centrifugal compressor market is poised for significant growth, driven primarily by the oil and gas sector, which remains the largest end-user. The increasing demand for natural gas-fired power plants is expected to boost the need for high-pressure gas compressors, particularly as countries shift from coal-based to natural gas-based energy production. This transition is anticipated to create substantial opportunities for centrifugal compressors in both transportation and power generation sectors. Despite the slow growth in the oil and gas industry due to the COVID-19 pandemic, the market is expected to recover and expand, supported by the growing demand for compressor stations for gas transmission and the development of midstream infrastructure, such as city gas distribution projects.
China is expected to lead the market during the forecast period, fueled by its expanding chemical, oil, and gas refining industries. The country's commitment to reducing pollution by increasing gas consumption has made it a significant player in the global gas market, further driving the demand for centrifugal compressors. The industrial sector's substantial energy consumption, along with government initiatives to expand this sector, is likely to enhance market prospects. Additionally, the growth in upstream and midstream activities, particularly in shale gas production, is expected to increase the installation of centrifugal compressors. The market is moderately fragmented, with key players including Ingersoll-Rand plc, Atlas Copco Ltd, BAUER Compressors Inc., Boge Compressors Ltd, and Gardner Denver, Inc.
Asia-Pacific Centrifugal Compressor Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 End-User
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2.1.1 Oil and Gas
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2.1.2 Power Generation
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2.1.3 Chemical
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2.1.4 Others
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2.2 Geogrpahy
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2.2.1 China
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2.2.2 India
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2.2.3 Japan
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2.2.4 South Korea
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2.2.5 Rest of Asia-Pacific
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Asia-Pacific Centrifugal Compressor Market Size FAQs
What is the current Asia-Pacific Centrifugal Compressor Market size?
The Asia-Pacific Centrifugal Compressor Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Centrifugal Compressor Market?
Atlas Copco Ltd , Gardner Denver Holdings Inc, Ingersoll-Rand plc , Boge Compressors Ltd and BAUER Compressors Inc are the major companies operating in the Asia-Pacific Centrifugal Compressor Market.
