The Axial Flow Compressor Market is estimated to grow at 3.8% CAGR in 2020-2031 with a market size of 669.73 Million
An axial-flow compressor is a gas compressor that can pressurize gases consistently. It is an airfoil-based rotating compressor where the gas or working fluid mostly travels axially or parallel to axis of rotation. Rotor blades, stat & stationary blades are the fundamental components of an axial flow compressor, with the former carrying the moving blades and the latter the fixed rows of blades.
COVID-19 Impact Assessment
Due to the extended lockdown in significant global countries, the COVID-19 pandemic has forced the axial flow compressor industry to halt manufacturing various goods. It has slowed the growth of the axial flow compressor market in recent months, and it is likely to continue in 2020. COVID-19 had a severe impact on equipment & machinery sales in the first quarter of 2020 and is expected to continue to do so throughout the year.
The significant demand for equipment & machinery was observed earlier from big industrial countries such as the United States, Germany, Italy, the United Kingdom, and China, which has been severely impacted by the spread of the coronavirus, stopping the demand for equipment & machinery. Furthermore, the potential impact of the lockout is yet unknown, and firms financial recovery is dependent on cash reserves. Companies that manufacture equipment and machinery can afford a proper lockdown for only a few months, after which the players will have to change their investment plans. After COVID-19 infection instances start to decline, equipment and machinery makers must focus on safeguarding their staff, operations, and supply networks to respond to urgent emergencies and create new ways of working.
Key Trends & Drivers
The market is likely to rise due to the increased use of axial flow compressors to separate air in the steel and iron sectors. The industrial use of axial flow compressors, such as air separation in manufacturing facilities and liquid removal from natural gas, is driving the industry forward. Moreover, the high operating & production cost, including its hefty weight, is limiting market development. A surge in demand for hydrogen transportation through pipelines in the oil and gas industry globally is beneficial for market expansion.
Some of the leading players in this industry are Howden Compressors Ltd, MAN Turbomachinery, Mitsubishi Hitachi Power Systems, Wartsila, Siemens AG, Ingersoll Rand PLC, Dresser-Rand, Elliott Group, General Electric Company, Xi’an Shaangu Power, and others
North America, Europe, Asia Pacific, Middle East & Africa, and South America are the regions that make up the worldwide axial flow compressor market. North America is forecast to lead the worldwide axial flow compressor market because of the widespread use of axial flow compressors.
With the growing adoption of axial flow compressors in various industrial applications such as high volume air separation in manufacturing plants, fluid catalytic cracking, & proper dehydrogenation in the oil & gas sector, the axial flow compressor market in the Asia Pacific is expected to hold a significant share. The axial flow compressor market in the Asia Pacific is likely to develop as a result of this.
• Historical data available (as per request)
• Estimation/projection/forecast for revenue and unit sales (2021-2031)
• Data breakdown for every market segment (2021-2031)
• Gross breakdown for every market segment (2021-2031)
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry and Revenue Segmentation
Stage Type Analysis (Revenue, USD Million, 2021-2031)
Application Analysis (Revenue, USD Million, 2020-2031)
• Oil & Gas
• Power Generation
Type Analysis (Revenue, USD Million, 2020-2031)
• Vertical Axial Compressor
• Horizontal Axial Compressor
Key Company Analysis (Revenue, USD Million, 2020-2031)
• Elliott Group
• General Electric Company
• Howden Compressors Ltd
• Ingersoll Rand PLC
• MAN Turbomachinery
• Mitsubishi Hitachi Power Systems
• Siemens AG
• Xi’an Shaangu Power
• Zhejiang Kaishan Compressor
Regional Analysis (Revenue, USD Million, 2020 – 2031)
• United States
• United kingdom
• South Korea
• Saudi Arabia
• Rest of the world
• United States Axial Flow Compressor Industry Research Report
• Europe Axial Flow Compressor Industry Research Report
• Asia Axial Flow Compressor Industry Research Report