The report "Turbocompressor Market by Type (Centrifugal & Axial), Application (Oil & Gas, Chemical, and Power Generation), Stage (Single & Multi), Output Pressure (0–20, 21–100, Above 100 Bar), and by Region - Global Trends & Forecasts to 2021", The turbocompressors market is projected to grow from an estimated USD 12.15 Billion in 2016 to USD 15.81 Billion by 2021, at a CAGR of 5.4%. Increasing LNG trade between nations, the growing demand for energy, and investments in sectors other than oil & gas are expected to drive the market for turbocompressors.
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Oil & gas sector to dominate the turbocompressors market during the forecast period
The turbocompressors market has been segmented according to application into oil & gas, power generation, chemical, and others. The oil & gas sector accounted for approximately 50% of the market share in 2015. The growing number of LNG projects will likely increase the demand for turbocompressors. This is expected to drive the market for turbocompressors in the oil & gas sector.
Axial turbocompressors to hold the largest share of the turbocompressors market, by type, during the forecast period
The turbocompressors market has been segmented on the basis of type into axial and centrifugal turbocompressors. Centrifugal turbocompressors are estimated to dominate the market. Axial turbocompressors are used as compressors in gas turbines and in the steel and chemical industries. These turbocompressors are primarily used for applications that require a high intake volume of flow, and are more efficient than centrifugal turbocompressors. Most axial turbocompressors produce pressures higher than 100 psi, at intake volumes between 23,500 acfm to 588,500 acfm. The market for axial turbocompressors is expected to grow at the highest CAGR during the forecast period.
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Objectives of the report:
·
To define, describe, and forecast the global
turbocompressor market on the basis of application, output pressure, stage,
type, and region
·
To provide detailed information regarding
major factors influencing the growth of the market, including drivers,
restraints, opportunities, industry-specific challenges, winning imperatives,
and burning issues
·
To strategically analyze micromarkets with
respect to individual growth trends, future prospects, and contribution to the
total market
·
To analyze market opportunities for
stakeholders and provide details of a competitive landscape for market leaders
·
To strategically profile key players and
comprehensively analyze their market shares and core competencies
·
To track and analyze competitive developments
such as agreements, mergers & acquisitions, and expansions in the
turbocompressors market
The report covers six regions, namely, North America, Asia-Pacific, Europe, the Middle East, South America, and Africa. The turbocompressors market in North America is expected to witness the highest growth from 2016 to 2021, owing to the growing manufacturing sector in the region. The increase in the LNG trade between nations would drive the North American turbocompressors market, as turbocompressors are used for gas transportation and storage.
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