A reciprocating compressor is a positive displacement machine that compresses gas before releasing it at high pressure using a piston. Reciprocating compressors are among the most complex and expensive equipment in a manufacturing facility, and they demand special care.
The size of the global market for Reciprocating Compressor is expected to reach USD 40.98 billion by 2028, expanding at a compound annual growth rate (CAGR) of 3.4 %.
Covid-19 Impact & Market Status
Due to the protracted lockdown in key global countries, the COVID-19 pandemic has forced the suspension of manufacture of a variety of reciprocating compressor items. This has slowed the growth of the reciprocating compressor market in recent months, and it is expected to continue in 2020. COVID-19 had an impact on equipment and machinery sales in the first quarter of 2020, and it continued to have an impact throughout the year. Furthermore, the lockdown's potential impact is yet unknown, and organizations' financial recovery is dependent on their cash reserves.
Rising Demand from Several End-Use Industries to Boost Market Growth
Increased demand from end-use industries for compressors for CNG and LNG transport and storage plants and refineries is projected to affect the global reciprocating compressor market in the near future. Apart from that, reciprocating compressors have outstanding characteristics such as high pressure and power performance. This feature is projected to contribute to the global reciprocating compressor market's quick revenue growth. However, the global reciprocating compressor market is projected to face growth restraints due to fraudulent imitations of these compressor designs and intense price competition.
High Demand for Cost-efficient Reciprocating Compressors
Reciprocating compressors are widely utilized in the chemical and petroleum industries, as well as natural gas transmission and compression. Reciprocal compressors are also employed in a variety of industries, including chemicals, oil and gas, refrigeration, power generation, metal processing, and pharmaceuticals. The reciprocating compressor market's players are predicted to focus on boosting the machine's durability, narrowing gas flow, assisting in rotation, and properly controlling heat at the moment.
Several reciprocating compressor manufacturers are concentrating on increasing overall monitoring pressure pulsation and thermodynamic efficiency, thus pipe vibration is an important factor to consider. Because of its use in compressing industrial and medicinal gases such as hydrogen, oxygen, and helium, demand for reciprocating compressors is predicted to expand steadily. However, because these undiagnosed and unresolved defects may cause significant damage to reciprocating compressors, vibration monitoring is essential.
The market size of Global Reciprocating Compressors is expected to reach USD 9 billion by 2029 with a growing CAGR of 3.6%, while it was valued at USD 6.90 billion in 2022.
Oil-free and lubricated reciprocating compressors are the two types. The car industry, like other industrial sectors, is projected to see increased demand for reciprocating compressors. However, there is a preference for renting air compressors, which is expected to limit demand for reciprocating compressors throughout the projection period. These compressors are widely used in the chemical and petroleum industries. They're employed in a variety of activities, including natural gas transmission and compression. Furthermore, reciprocating compressors are used in a variety of operations across a variety of industries, including pharmaceuticals, electricity generation; oil and gas, metal processing, and chemicals. With such a broad range of applications, the global reciprocating compressor market is expected to grow quickly. Over the last several years, investors in the global reciprocating compressor market have shifted their attention to more efficient heat management, rotation assistance, gas flow narrowing, and machine longevity.
A reciprocating compressor's principal function is to compress air, which is used in the chemical and petroleum industries. The constant need for cost-effective reciprocating compressors is one factor affecting their expansion. The global reciprocating compressor business is propelled by refineries, as well as CNG and LNG transport and storage facilities. Reciprocal compressors have remarkable properties such as high efficiency and the capacity to produce both high pressure and high power, boosting the global reciprocating compressors industry's growth. The market's growth is likely to be supported by rising demand for oxygen supply in the iron and steel sectors over the next several years.
The global reciprocating compressor market, on the other hand, is being stifled by false imitations of compressor designs. Compressor vendors' profitability in the broader market is also being hampered by fierce price rivalry. Although reciprocating compressors have several perks such as great ability to control, gas sealing behavior, and low-tech manufacturing requirements, the reciprocating compressor has a couple of setbacks points as Compared to the rotating compressors. The reciprocating compressor has a lower capacity density which is the consequence of its low speed. A reciprocating compressor is built of many varied parts. The longevity of some of its parts is limited such as disk and reed valves and piston rings. The internal and mechanical efficacies of reciprocating compressors are efficient enough, especially the load part. The reciprocating compressors have an intermittent feed rate and their vibration behavior is also unfavorable.
Technological advancements, industrialisation, investments, and need for replacement reciprocating compressors are projected to drive the global reciprocating compressor market forward. Demand from end-use sectors such as chemical, petrochemical, and power generation, among others, is predicted to expand tremendously throughout the time period we have accounted for as players continue to produce new and upgraded variations of reciprocating compressors.
The key players present in the global reciprocating compressor market are Siemens AG, GE Company, Atlas Copco, Mikuni Kikai Kogyo Co., LTD., Burckhardt Compression AG, IHI Corporation, Ltd., The Japan Steel Works, LTD., Kaeser Kompressoren Co., Ltd., Mitsui E&S Holdings Co., Ltd., Mayekawa Mfg. Co., LTD, and Gardner Denver Holdings Inc.
Latest Innovations in the Global Reciprocating Compressor Market: A Snapshot
• In October 2020, Lontra announced that Blade Compressors LLC, a division of Industrial Air Centers with headquarters in Jeffersonville, Indiana (USA), had signed an agreement to serve as the National Distributor for Lontra Blade Compressors and future Lontra products and services in North America.
• Leading automotive supplier MARELLI announced in August 2019 that it had formed a strategic partnership with Shanghai Highly (Group) Co., Ltd. in China (Highly). MARELLI and Johnson Controls-Hitachi Air Conditioning have agreed to an Equity Transfer Agreement as part of the acquisition.
Reciprocating Compressor Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 6.90 billion|
|Growth Rate||CAGR of 3.6 % during 2021-2028|
|Segment Covered||Type, Component, Application, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Siemens AG, GE Company, Atlas Copco, Mikuni Kikai Kogyo Co., LTD., Burckhardt Compression AG, IHI Corporation, Ltd., The Japan Steel Works, LTD., Kaeser Kompressoren Co., Ltd., Mitsui E&S Holdings Co., Ltd., Mayekawa Mfg. Co., LTD, and Gardner Denver Holdings Inc.|
Key Segments of the Global Reciprocating Compressor Market
Type Overview, 2022-2029 (USD Billion)
Component Ovewiew, 2022-2029 (USD Billion)
Application Overview, 2022-2029 (USD Billion)
- Upstream Oil & Gas
- Industrial Gases
- LNG & CNG Transport & Storage
- Ethylene & LDPE Plants
End User Overview, 2022-2029 (USD Billion)
- Oil and Gas
- Consumer Electronics
Regional Overview, 2022-2029 (USD Billion)
- North America
- The US
- Rest of Europe
- The Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa