Global Turbocompressor Market Growth Opportunities Estimated By 2030

 In 2020, the global turbocompressor market boasted a substantial valuation of $15.7 billion, a figure set to soar to $29.3 billion by 2030, representing a robust Compound Annual Growth Rate (CAGR) of 6.3% from 2021 to 2030.

Turbocompressors, intricate machines adept at amplifying fuel capacity while harnessing increased engine energy, function as turbo machines employing dynamic principles to concentrate compressible gases. This process involves a continuous inflow of gas into a rotating impeller within the turbocompressor. Here, the mechanical shaft power is efficiently transferred to the fluid via blades, yielding a significant surge in both pressure and temperature.

Subsequently, the remaining kinetic energy is predominantly converted into pressure within the diffusor. The compressed gas is then channeled into a volute or directed to a second compressor stage via a return channel. Renowned for their durability, minimal maintenance requirements, and uninterrupted service, turbocompressors find extensive application in demanding and corrosive environments such as petrochemical plants, refineries, natural gas processing facilities, coal gasification plants, and power stations.

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The pivotal driver of turbocompressor market expansion lies in their indispensable role within the realm of water and wastewater treatment. Turbocompressors streamline operations, enhancing efficiency and minimizing maintenance costs during the crucial process of pollutant removal from wastewater.

Moreover, escalating regulatory standards pertaining to clean energy usage, exemplified by initiatives like the Clean Air Act, propel the global trade of liquefied natural gas (LNG) across various nations, notably the U.S. and Australia. Turbocompressors emerge as indispensable components within LNG applications, meticulously maintaining pressure ratios, thereby catalyzing heightened demand and fostering sustained growth within the turbocompressor market.

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The turbocompressor market is segmented on the basis of type, stage, end user, and region.

On the basis of type, the market is divided into centrifugal and axial.

On the basis of stage, the market is divided into single stage and multistage.

On the basis of end user, the market is segmented into oil & gas, power generation, chemical, and others.

Regional Analysis:

Region wise, the global turbocompressor market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global turbocompressor market share, and LAMEA is anticipated to secure a leading position during the forecast period.

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Top Players:
The major players profiled in the turbocompressor industry include Atlas Copco AB, Elliott Group, General Electric, Howden Group, Ingersoll Rand, Kawasaki Heavy Industries, Ltd., KOBE STEEL, LTD., MAN Energy Solutions, MITSUBISHI HEAVY INDUSTRIES, LTD. And Siemens.

 

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