The Global Oil & Gas Industry Gas Compressor Market Research Report Forecast 2018-2023: is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
Oil & gas industry amounts to more than 50% of the global gas compressor market. Growth in gas compressor market is closely linked with oil & gas prices. For example, after the drop in oil & gas prices during 2014, major leaders in gas compressor market, such as Atlas Copco and Ingersoll Rand registered stagnancy in the annual revenue for the financial year 2015-16 compared to annual revenue in the financial year 2014-15. The oil prices are expected to increase during the forecast period, which in turn, is expected to drive the market.
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Companies Mentioned are:
Atlas Copco Ltd, General Electric, Ingersoll Rand Plc, Siemens AG, Sulzer Ltd, Kobe Steel Ltd., W�rtsil�, and PSG Technologies, amongst others.
Growing Gas Demand to Drive the Market
Rising electricity demand in emerging markets, such as India, China, Brazil, and Mexico are expected to drive the natural gas demand in power generation sector. Apart from that, global demand for natural gas is expected to rise as natural gas is more environment-friendly compared to other fossil fuels, such as oil, and there is a global trend towards consumption of cleaner fuel owing to concerns about air pollution and global warming. Hence, the share of the gas in total global energy consumption is expected to grow, while the share of oil is expected to drop during the forecast period. As a result of this trend, the oil & gas industry is expected to move towards gas from oil, in turn driving the demand for gas compressors in oil & gas industry.
Technological Advancements to Drive the Market
Technological advancements to make the compressor more energy efficient and environmental friendly, allowing replacement of the higher number of existing conventional compressor units economically viable, which in turn, is expected to increase the demand for the gas compressors. A good example is, in 2013, Atlas Copco launched GA VSD+ compressor. This model has registered substantial success, as it can reduce the energy consumption up to 50% compared to the conventional compressor, making replacement of old compressors with advanced compressors an economically viable option.
Asia-Pacific Region to Experience Substantial Market Growth
Asia-Pacific is home to some of the largest consumer and largest importer countries of natural gas in the world. This region is still primarily dependent on oil and coal for its energy needs. But recent trend is towards increasing use of natural gas owing to growing concerns over the air pollution. Power generation and manufacturing industry are the biggest consumers of natural gas in this region. Increasing demand for electricity in countries, such as India and China is expected to drive natural gas demand. Urbanization and increasing middle class countries in Asia Pacific region are expected to drive the growth of residential gas consumption. One of the major obstacles faced by countries in Asia-Pacific region, such as India and China is lack of infrastructure for domestic production and supply of the gas, which is constraining the gas consumption. In order to address the problem, the countries in the region are expected to invest heavily in upstream, midstream, and downstream gas industry, which in turn is expected to drive the gas compressor market in the region.
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of Oil & Gas Industry Gas Compressor Market these regions, from 2018 to 2023 (forecast), covering
North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) South America (Brazil, Argentina, Columbia etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
Reasons to Purchase this Report
Current and future oil & gas industry gas compressor market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porters five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
Influence of theOil & Gas Industry Gas Compressor market report:`
-Comprehensive assessment of all opportunities and risk in the market.
– Oil & Gas Industry Gas Compressor market recent innovations and major events.
-Detailed study of business strategies for growth of the market-leading players.
-Conclusive study about the growth plot ofOil & Gas Industry Gas Compressor market for forthcoming years.
-In-depth understanding of market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the market.
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