Europe Compressor Market Size (2024 - 2029)

The Europe compressor market is anticipated to experience growth, driven by the increasing demand from the chemical industry for applications like refrigeration. Despite the challenges posed by the rise of renewable energy sources that reduce the need for compressors, advancements in compressor technology offering significant energy savings present promising opportunities for market expansion. Russia's substantial oil and gas refining capacity positions it as a key player in the region, further influencing the market dynamics.

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Market Size of Europe Compressor Industry

Europe Compressor Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 4.00 %
Market Concentration Low

Major Players

Europe Compressor Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Compressor Market Analysis

The Europe compressor market is expected to rise at a CAGR of more than 4% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. However, the market has now reached pre-pandemic levels.

  • Over the long term, factors such as increasing demand for compressors from the chemical industry for application such as refrigeration is likely to drive the Europe compressor market.
  • However, increasing the installation of renewable energy sources to provide power that does not use compressors is expected to restrain the Europe compressor market.
  • Nevertheless, new technologies in compressors with higher efficiency than the present ones that save 20-50% more energy are expected to create several opportunities for the European compressor market in the future.
  • Russia, due to its highest oil and gas refining capacity in the region, is expected to dominate the Europe compressor market. As of 2021, more than 30% of the total refining capacity in Europe was in Russia, where compressors are required for several purposes, such as transportation and LNG conversion of gas.

Europe Compressor Industry Segmentation

A compressor is a mechanical device that increases the pressure of a gas by reducing its volume. Compressors are used throughout the industry to provide shop or instrument air; power air tools, paint sprayers, and abrasive blast equipment; phase shift refrigerants for air conditioning and refrigeration; propel gas through pipelines; etc. The Europe compressor market is segmented by type and end user. By type, the market is segmented by positive displacement and dynamic compressors. By end user, the market is segmented by Oil and Gas Industry, Power Sector, Manufacturing Sector, Chemicals and Petrochemical Industries, and Other End Users. The report also covers the market size and forecasts for the Europe Compressor market across the major countries. For each segment, the market size and forecasts have been done based on revenue (USD billion).

Type
Positive Diplacement
Dynamic
End User
Oil and Gas Industry
Power Sector
Manufacturing Sector
Chemicals and Petrochemical Industry
Other End Users
Geography
Russia
Germany
United Kingdom
Rest of Europe
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Europe Compressor Market Size Summary

The European compressor market is poised for growth, driven by increasing demand from the chemical industry, particularly for refrigeration applications. Despite the initial setbacks due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The oil and gas sector, encompassing upstream, midstream, and downstream activities, remains a significant contributor to the market, with compressors essential for various processes such as gas transmission and LNG conversion. The shift towards gas-based power generation, as countries phase out coal, is expected to further bolster the market. Innovations in compressor technology, offering enhanced efficiency and energy savings, present additional opportunities for market expansion.

Russia is anticipated to lead the European compressor market, supported by its substantial oil and gas refining capacity and ongoing investments in LNG infrastructure. The country's energy sector, a major economic driver, is witnessing a transition from coal to natural gas, which is expected to stimulate compressor demand. Additionally, projects like the Amur Gas Chemical Complex highlight Russia's commitment to expanding its energy infrastructure, further solidifying its market dominance. The European compressor market is moderately fragmented, with key players such as Atlas Copco, Siemens, and Sulzer actively engaging in strategic acquisitions to enhance their market presence.

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Europe Compressor Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Positive Diplacement

      2. 2.1.2 Dynamic

    2. 2.2 End User

      1. 2.2.1 Oil and Gas Industry

      2. 2.2.2 Power Sector

      3. 2.2.3 Manufacturing Sector

      4. 2.2.4 Chemicals and Petrochemical Industry

      5. 2.2.5 Other End Users

    3. 2.3 Geography

      1. 2.3.1 Russia

      2. 2.3.2 Germany

      3. 2.3.3 United Kingdom

      4. 2.3.4 Rest of Europe

Europe Compressor Market Size FAQs

The Europe Compressor Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Siemens AG, Sulzer AG , Baker Hughes Co, Atlas Copco AB and Aerzener Maschinenfabrik GmbH are the major companies operating in the Europe Compressor Market.

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