Compressor Market in MEA by End-user and Geography - Forecast and Analysis 2022-2026

The compressor market share in MEA is expected to increase by USD 1.09 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.55%.

This compressor market in MEA research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers compressor market segmentation in MEA by end-user (oil and gas, process industry, and discrete industry) and geography (Saudi Arabia, Turkey, UAE, Qatar, and Rest of MEA). The compressor market in MEA report also offers information on several market vendors, including ANEST IWATA Corp, Atlas Copco AB, IDEX Corp., KAESER KOMPRESSOREN SE, MAHLE GmbH, MAN Energy Solutions SE, Mitsubishi Heavy Industries Ltd., Siemens AG, Toyota Industries Corp., and Valeo SA among others.

What will the Compressor Market Size in MEA be During the Forecast Period?

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Compressor Market in MEA: Key Drivers, Trends, and Challenges

The expansion of oil terminals is notably driving the compressor market growth in MEA, although factors such as fluctuating prices of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the compressor industry in MEA. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Compressor Market Driver in MEA

One of the key factors driving growth in the compressor market in MEA is the expansion of oil terminals. The oil and gas industry is one of the key end-users in the compressors market. It uses compressors to increase the pressure during the petroleum refining process and utilizes gas and compressed air for transporting gas through pipelines. The ability of compressors such as centrifugal and reciprocating air compressors to pressurize highly viscous fluids at relatively constant flow rates makes them indispensable in the oil and gas industry. The increasing expansion of oil terminals around the world has driven the need for compressors and fluid handling systems across mid-stream and downstream activities in the oil and gas industry. Oil terminals are used for storing crude oil and petroleum products and serve as centers for oil and gas transportation, thereby supporting the oil and gas supply chain. Hence, the expansion of oil terminals has a direct impact on the demand for compressors. Although upstream activities were affected due to low oil and gas prices in 2014, the high consumption pattern of oil and gas products has increased the need for strong pipeline infrastructure. The increasing consumption of oil and gas is expected to drive oil and gas pipeline construction during the forecast period.

Key Compressor Market Trend in MEA

The increasing focus on big data analytics is a compressor market trend in MEA that is expected to have a positive impact in the coming years. The increasing adoption of the Industrial Internet of Things (IIoT) in the process and discrete industries has enhanced the overall productivity of these industries. These industries are trying to convert themselves into smart industries with the help of the IIoT. For compressors that are used in industrial premises, it is essential to ensure periodic maintenance and services. However, due to harsh environmental conditions and the need for offshore location inspection on a real-time basis, the periodic maintenance of compressors is not easy for operators. At the same time, the use of wireless sensors to monitor the equipment can make the maintenance task much easier. The adoption of the IIoT in the process and discrete industries has increased the total volume of data generated by each production plant, thereby creating requirements for big data analytics. Companies are combining and analyzing the complex and varied data generated by various devices using data analytics to derive actionable insights. The application of IIoT-enabled solutions ensures cost savings and increases the operational efficiency of companies.

Key Compressor Market Challenge in MEA

The fluctuating prices of raw materials will be a major challenge for the compressor market in MEA during the forecast period. Instability in raw material prices affects the cost of production. Therefore, many key vendors enter long-term contracts with suppliers to reduce the impact of raw material price fluctuations on their businesses. However, small vendors do not have such contracts due to the significant investments required. Therefore, fluctuations in raw material prices affect their businesses. The scarcity of raw materials severely hampers the growth of the global compressors market. Motors that are used to manufacture compressors require rare-earth magnets such as neodymium. Boron is required to convert the magnet into a permanent magnet motor. These magnets are twice as strong as a typical ferrite-based magnet. Rare-earth metals are difficult to mine and fabricate. Such metals are found in limited quantities and are present in Saudi Arabia. Therefore, fluctuations in prices impact the cost of such magnets and permanent magnet motors. The abovementioned factors reduce the profitability of vendors and adversely affect the compressors market in MEA.

This compressor market in MEA analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global compressor market in MEA as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the compressor market in MEA during the forecast period.

Who are the Major Compressor Market Vendors in MEA?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• ANEST IWATA Corp
• Atlas Copco AB
• IDEX Corp.
• KAESER KOMPRESSOREN SE
• MAHLE GmbH
• MAN Energy Solutions SE
• Mitsubishi Heavy Industries Ltd.
• Siemens AG
• Toyota Industries Corp.
• Valeo SA

This statistical study of the compressor market in MEA encompasses successful business strategies deployed by the key vendors. The compressor market in MEA is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• ANEST IWATA Corp - The company offers compressor products such as Recipro and Claw

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The compressor market in MEA forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Compressor Market in MEA Value Chain Analysis

Our report provides extensive information on the value chain analysis for the compressor market in MEA, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the industrial machinery market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Aftermarket and service
• Industry innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Compressor Market in MEA?

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38% of the market's growth will originate from Rest of MEA during the forecast period. Market growth in this region will be faster than the growth of the market in Saudi Arabia and Qatar.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Compressor Market in MEA?

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The compressor market share growth in MEA by the oil and gas segment will be significant during the forecast period. Investments in new oil and gas plants were considerably low in 2020. However, the increasing production of natural gas and the gradual revival of upstream oil and gas activities, owing to the rising demand for clean energy sources, will drive the growth of the segment. In MEA, factors such as increasing investments in refining, capacity addition, and the improvement of existing refineries are likely to drive the growth of the segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the compressor market size in MEA and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Compressor Market in MEA Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive compressor market growth in MEA during the next five years
• Precise estimation of the compressor market size in MEA and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the compressor industry across Saudi Arabia, Turkey, UAE, Qatar, and Rest of MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of compressor market vendors in MEA

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