NEW YORK, Sept. 14, 2021 /PRNewswire/ —
The new gas compressors market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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«The increasing need for energy-efficient compressor systems, growing use of CNG as fuel, and competitive and stable prices of CNG will fuel the growth of the global gas compressors market,» says a senior analyst at Technavio. As the markets recover, Technavio expects the gas compressors market size to grow by USD 1.83 billion during the period 2021-2025.
Gas Compressors Market Segment Highlights for 2020
- The gas compressors market is expected to post a year-over-year growth rate of 4.23%.
- By product, the market witnessed strong growth in the PD compressors segment in 2021.
- The market growth in the PD compressors segment will be significant during the forecast period.
- 55% of the growth will originate from the APAC region.
- China and India are the key markets for gas compressors in APAC. Market growth in this region will be faster than the growth of the market in North America, Europe, MEA, and South America.
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- The gas compressors market size is expected to accelerate at a CAGR of almost 4% during the forecast period.
- The gas compressors market is segmented by Product (PD compressors and Centrifugal compressors) and Geography (APAC, North America, Europe, MEA, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Ariel Corp., Atlas Copco AB, Burckhardt Compression Holding AG, Gardner Denver Inc., General Electric Co., Hitachi Ltd., Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., Siemens Energy AG, and Sulzer Ltd.
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