Global Reciprocating Compressor Market is valued at USD 5.22 Billion in 2022 and is expected to reach USD 6.64 Billion by 2029 with a CAGR of 3.5% over the forecast period.
End users of reciprocating compressors are extremely inclined toward round-the-clock process monitoring, as data can be analyzed and recorded continually with the assistance of a series of monitoring systems, comprising a programmable logic controller, distributed control systems, and supervisory control and data acquisition system.
Reciprocating compressors are used extensively in the making of petroleum and chemicals, comprising natural gas compression and gas transportation. Moreover, reciprocating compressors find usages in a series of industrial segments, including chemicals, oil & gas, metal processing, refrigeration, pharmaceutical, and power generation. In late years, stakeholders in the reciprocating compressor market are predicted to aim on assisting in rotation, enhancing the machine’s durability, managing heat efficiently, and narrowing gas flow. Some of the main elements of a reciprocating compressor comprise piston rings, pistons, cylinders, frames, valves, and crossheads. Key players of reciprocating compressors are planning at enhancing the quality of these elements to optimize the products’ performance.
The global reciprocating air compressor market can be divided based on product type, method of action, region, and end-user industry. By method of action, the reciprocating air compressor market can be divided into double acting and single acting. By product type, the reciprocating air compressor market is divided into portable and stationary. By end-user industry, the reciprocating air compressor market can be segmented into manufacturing, mining, oil & gas, home appliances, health care, semiconductor & electronics, food & beverages, and others.
The major players included in the global reciprocating compressor market forecast are,
Vibration monitoring has stayed a major aspect inside the reciprocating compressor market for many years. The past 2 decades saw noteworthy development in vibration monitoring, which has developed to the currently used first-generation shock monitoring technology from RMS vibration transmitters. Various makers of reciprocating compressors are aiming on enhancing the general monitor pressure pulsation and thermodynamic efficiency, wherein piping vibration is an essential parameter. The requirement for reciprocating compressors is predicted to develop at a steady speed, due to their value in compressing medical and industrial gases such as oxygen, hydrogen, and helium. On the other hand, unresolved and undetected faults can cause immense damage to reciprocating compressors owing to which vibration monitoring is essential.
In addition, as these errors can develop at a quick speed, vibration monitoring has attained major significance in late years. End users of reciprocating compressors are extremely inclined toward round-the-clock process monitoring, as data can be analyzed and recorded continually with the assistance of a series of monitoring systems, comprising a programmable logic controller (PLC), distributed control systems (DCS), and supervisory control and data acquisition (SCADA) system. The arrival of first-generation shock monitoring tech has played an essential role in enhancing vibration monitoring, thus lowering the injury to reciprocating compressors in the coming future.
North America is seen as the developmental hub for new tech powered enterprise business models. North America is observing huge-scale economic development and infrastructure investment which is predicted to power the requirement for reciprocating compressors. The US has biggest oil manufacturing capacity in North America. Development in the number of industrial infrastructure projects, and rising spending all over all process sectors such as oil & gas, petrochemicals, and pharmaceuticals is predicted to propel development of the reciprocating compressor market all over different industry verticals in the area.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2029|
|Market Size in 2022:||USD 5.22 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||3.5%|
|Market Size Expected in 2029:||USD 6.64 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Ingersoll-Rand, Atlas Copco, Kaeser Kompressoren, Elgi Compressors USA, Belaire Compressor, Gardner Denver|
|Segments Covered||By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa|