Reciprocating compressors are, primarily, positive-displacement machines. It compresses and move gases by producing linear (reciprocating) and rotational motion. The compressors are deployed to enhance the pressure level of the compresses gas.
Owing to functions of the reciprocating compressor, it is widely employed in oil & gas industry, refineries, gas processing plants, gas pipelines, and many others.
Further, it is an ideal solution for industrial requirements and low space locations. Hence, demand for reciprocating compressor is growing from LNG & CNG transport and refineries. Growth in the demand rate is attributed to reliability and efficiency of the compressor. Also, it is ideal for consistent duty operation.
All these aforementioned factors are likely to fuel growth of reciprocating compressor market in coming years.
Meanwhile, rising demand for oxygen supply across steel and iron industry is anticipated to, further, push horizon of the reciprocating compressor market.
Reciprocating Compressor Market – Snapshot
Reciprocating compressors finds extensive use in the manufacturing of chemicals and petroleum. Utilization in these processes comprises use in the transportation of natural gas and compression of gas. In addition to that, reciprocating compressors are substantially used in a wide range of processes in various industrial sectors such as pharmaceutical, power generation, refrigeration, metal processing, oil and gas, and chemicals. Such wide scope of application is likely to work in favor of the global reciprocating compressor market in the near future.
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In the last few years, shareholders in the global reciprocating compressor market are expected to shift their focus on managing heat efficaciously, helping in rotation, narrowing the flow of gas, and improving the durability of the machine,
Rising Demand from Several End Use Industries to Boost Market Growth
A rise in the demand for these compressors from CNG and LNG transport and storage plants and refinery are likely to shape the contours of the global reciprocating compressor market in the near future. However, the fraudulent imitation of the designs of these compressors and high competition in price are likely to emerge as growth restraining factors for the global reciprocating compressor market.
Apart from that, the reciprocating compressors come with excellent features such as excellent performance in both high pressure and power. This factor is likely to pave way for the rapid revenue generation of the global reciprocating compressor market.
These compressors are used in a large number of industries, some of which are
- Natural gas processing plants
- Oil refineries
- Chemical plants
- Gas pipelines
- Refrigeration plants
One specialty application of reciprocating compressor comprise the blowing of plastic bottles that are made of polyethylene terephthalate or PET. In addition, the production processes of iron and steel are increasingly making use of these compressors, which is estimated to fuel the growth of the global reciprocating compressor market in the near future.
The research methodology adopted by analysts to compile the reciprocating compressor market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the reciprocating compressor market.During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the reciprocating compressor market.
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For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the reciprocating compressor market.
Reciprocating Compressor Market – Segmentation
TMR’s research study assesses the reciprocating compressor market on the basis of component, industry, and region. This report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the reciprocating compressor market.