Turbocompressor Market Report Product Development Survey 2032

Turbocompressor Market Report Product Development Survey 2032

Market Overview

Turbocompressor is a mechanism that improves engine economy while also increasing engine power. The rise of liquified natural gas, which uses axial and centrifugal compressors to boost pressure ratios, is a major driving factor for the Turbocompressor market.

Turbocompressor's are used in automobiles to increase fuel efficiency by greater than 10%. Furthermore, Turbocompressor's are employed in diesel engines to minimize NOx emissions. The automobile industry has grown in recent years, resulting in the expansion of Turbocompressor.

The increasing use of Turbocompressor's in power generation and chemical processes, as well as the growing commerce in liquefied natural gas (LNG), are driving the expansion of the global Turbocompressor market.

Key Players:

  • Atlas Copco AG
  • Sulzer Ltd.
  • Kobe Steel Ltd.
  • GE Oil & Gas
  • Man Diesel & Turbo SE
  • Siemens AG
  • Kawasaki Heavy Industries Lid.
  • Ingersoll Rand
  • Howden Group Ltd
  • Hitachi Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • SKF
  • Elliott Group
  • Rotating Machinery Services InC
  • Sundyne Corporation
  • Sullivan-Palatek Inc
  • Gardner Denver Inc

Market segmentation

The Turbocompressor market is segmented by type, application, output, and stage.

 By stage- The market has been divided into single-stage and multi-stage segments based on stage. Due to their widespread use in numerous industries, single-stage Turbocompressor's have a greater market share than multi-stage Turbocompressor's.

 By type- The global Turbocompressor market is divided into centrifugal and axial Turbocompressor's. Centrifugal compressors are the most common type of compressor. Centrifugal Turbocompressor's are expected to have the greatest market share; however, due to their widespread use in LNG transport and crude oil refineries, the market for axial Turbocompressor's is expected to develop at a quicker rate.

By output- The market can be divided into three categories based on output pressure: 0 bar – 20 bar, 21 bar – 100 bar, and 100 bar and above.

By application- The global turbo-compressor market is divided into chemical, power generation, oil and gas, and other applications. Among them, the oil and gas application sector will dominate the market. 

Regional classification

The Turbocompressor market size can be divided into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America.

Due to the existence of big chemical plants, oil refineries, and other revenue-generating facilities, Asia Pacific is predicted to be the most favourable and revenue-generating region in the global turbo-compressor market.

The existence of several manufacturing facilities belonging to refineries, power generation projects, and chemical businesses, as well as increased LNG commerce and the development of new industrial sectors, are all contributing to the region's worldwide Turbocompressor market growth.

Because turbo-compressors are commonly utilized for storage and gas transportation, an increase in LNG trade in North America is projected to fuel demand for them in the near future

Industry news 

August 2021- R&D Dynamics Corporation is the primary supplier of oil-free foil gas bearing compressors/blowers to all major fuel cell vehicle manufacturers. The United States Department of Energy has awarded R&D Dynamics Corporation of Bloomfield, Connecticut, a contract to develop air management system compressors for heavy-duty vehicle applications as part of the Million Mile Fuel Cell Truck (M2FCT) programme.

In February 2020, Siemens, a German engineering firm, was awarded a contract to supply Venture Global's LNG project, a liquefied natural gas (LNG) producer situated in the United States, with BOG packages comprising STC-SV Turbocompressor's.

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