Global Air Compressor Market in Oil and Gas Industry 2016-2020

Market outlook of the air compressor market in the oil and gas industry

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.

Product segmentation and analysis of the air compressor market in oil and gas industry

• Positive displacement (PD)
• Centrifugal

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.

Geographical segmentation and analysis of the air compressor market in oil and gas industry

• Americas
• APAC
• EMEA

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.

Competitive landscape and key vendors

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 -

• Atlas Copco
• Siemens
• GE
• Ingersoll Rand
• Sulzer

Other prominent vendors in the market include BOGE, Doosan, ELGI, Fusheng, Gardner Denver, Hanbell, KAESER, Kaishan, Kirloskar, Shanghai Screw Compressor, and Wuxi Compressor.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global air compressor market in oil and gas industry?
• What are the key market trends impacting the growth of the air compressor market in oil and gas industry?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the vendors in the global air compressor market in oil and gas industry?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the air compressor market in oil and gas industry?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Screw Air Compressors Market in China 2015-2019
• Global Air Compressor Market: Forecast and Statistical Analysis 2015-2019