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Technavio’s research analyst predicts the global air compressor market in the oil and gas industry to grow steadily at a CAGR of about 7% during the forecast period. Air compressors form an integral part of various applications in this industry, which ranges from the extraction of crude oil to its transfer through refineries until it reaches the end customers.
Compressed air is widely used in sweetening of gasoline, oxidation of sour water, catalyst regeneration, and for removal of sulfur. Crude oil and natural gas production processes need to be contaminant-free, which is primarily served by oil-free air compressors. China and the Middle East are seeing increased oil and gas production activities and are prospective markets for air compressors. Several manufacturers are trying to design and develop next-generation air compressors consisting of a variable speed drive. This will help in reducing energy consumption by more than 35% when compared to fixed speed air compressors.
The PD air compressor segment dominated the global air compressor market in the oil and gas industry during 2015. PD air compressors can be of different types such as rotary and reciprocating. The estimated market share for rotary air compressors is more than 50% in the overall PD air compressor market. PD air compressors are capable of operating in high-pressure applications; hence, there has been high demand for these compressors in the oil and gas industry.
EMEA dominated the global air compressor market in the oil and gas industry during 2015. Mainstream infrastructure in this industry has become old and requires renovation for efficient operation. This scenario is visible in the Middle East, which is currently the dominant region for oil and gas reserves. With the growing demand for crude oil, the existing refineries are undergoing not only renovation but also expansion and development. The growth of the oil and gas industry in the region will generate high demand for air compressors during the forecast period.
Major international vendors dominate the global air compressor market in the oil and gas industry. However, they face stiff competition from numerous regional providers based in APAC. As a result, large vendors are trying to differentiate their product offerings in terms of quality and technological developments, such as incorporation of special speed drives to control the compressor operation.
The leading vendors in the market are -
Other prominent vendors in the market include BOGE, Doosan, ELGI, Fusheng, Gardner Denver, Hanbell, KAESER, Kaishan, Kirloskar, Shanghai Screw Compressor, and Wuxi Compressor.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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