The Global Reciprocating Compressors Market is projected to be valued at USD 6,497 Million by 2025, with 5.92% CAGR during the forecast period, 2019–2025. A reciprocating compressor is a positive displacement compressor, which sucks gas into a chamber and then compresses it by decreasing the area of the chamber. The area is reduced using a piston to compress air, which makes a reciprocating motion. There is a central crankshaft, which is connected to the shaft of an electric motor and transfers its rotary motion to the piston. It is used in various application, including manufacturing, natural gas processing and delivery, chemical plants, refrigeration plants, and oil refineries.
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Global Reciprocating Compressor Market
Segmentation:
The global reciprocating compressors market has been
segmented based on type, component, end-use industry, and region.
Based on type, the global market is segmented into
portable, and stationary. The portable segment is expected to dominate the
global market owing to the increasing trend of oil & gas exploration and
mining, which drives the demand for portable reciprocating compressors in the
global market during the forecast period.
Based on component, the global market is segmented
as crankshaft, piston, bearings, and others. The bearings segment is expected
to grow with the highest CAGR during the forecast period as it is used in
various range of industries and entitled for smaller durability of operational
life.
Based on end-use industry, the global market is
segmented into oil & gas, manufacturing, food & beverage,
semiconductor & electronics, mining, and others. The manufacturing segment
is expected to hold the largest market share during the forecast
period. Manufacturing companies such as construction equipment,
automotive, processing industries, and other companies use compressed air to
operate pneumatic tools, cutting equipment, welding equipment, and molding
equipment, among others. The developing manufacturing industry drives the
demand for reciprocating compressors in the manufacturing segment during
the forecast period.
Leading Players
The key players operating in the global
reciprocating compressors market are Ariel Corporation (US), Siemens (Germany),
General Electric (US), Atlas Copco (Sweden), Ingersoll-Rand plc (Ireland), Kobe
Steel, Ltd. (Japan), Burckhardt Compression AG (Switzerland), Hitachi
Industrial Products, Ltd. (Japan), Howden Group (UK), Gardner Denver, Inc.
(US), Sundyne (US), Shenyang Blower Works Group Corporation (China), Kaeser
Kompressoren (Germany), mayekawa mfg. Co., Ltd (US), and Corken, Inc. (US).
Regional Outlook
The global reciprocating compressors market has been
segmented into five regions, namely Asia-Pacific, Middle East & Africa,
Europe, North America, Europe, Asia-Pacific, the Middle East & Africa, and
South America.
Asia-Pacific holds the largest share of the global
reciprocating compressors market due to increasing industrialization and rising
investment in the manufacturing sector in Asia-Pacific. China holds the highest
market share in Asia-Pacific owing to increasing focus in manufacturing sector.
For instance, according to world investment report 2018, China recorded an
inflow of foreign direct investment worth USD 136 billion, which signifies
increasing investments in the manufacturing and construction sector during the
forecast period.
The reciprocating compressors market within the
Middle East & Africa is dominated by Saudi Arabia owing to increasing oil
& gas exploration projects. For instance, in December 2017, Saudi Aramco, a
Saudi Arabian Oil Company, awarded a contract worth USD 175 million to Baker
Hughes, a GE Company, for leveraging the gas resources and increasing gas
production to its double production capacity.
The reciprocating compressors market in Europe is
expected to be dominated by Germany owing to increasing focus on achieving more
contracts and agreement for various industries. For instance, in June 2018,
Burckhardt Compression AG (Switzerland) had received a turnkey contract for
revamping and modernization hyper/secondary compressors at a low-density
polyethylene plant (LDPE).
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