Research N Reports has added a new research report, titled “Centrifugal Compressors Market by Type (Multi-stage Centrifugal Compressors, Single-stage Centrifugal Compressors , Axial Centrifugal Compressors); by Application (Onshore, Offshore); by Vertical (Air Conditioning, Refrigeration and HVAC [Ammonia Condensing], Oil Refineries, Chemical Plants [Ethanol Production, Ammonia Production], Enhanced Oil Recovery (EOR) [Gas Injection, Thermal Injection, Chemical Injection], Fertilizer Plants, Gas Turbines, Steel Plants, Others); by Regions (North America, Asia Pacific, Europe, the Middle East & Africa and Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2017-2025".
Centrifugal compressors are a sub-class of dynamic axisymmetric work-absorbing turbomachinery used as a part of oil and gas industry for an assortment of applications. A simple radial compressor comprises of four parts: inlet, impeller/rotor, diffuser, and collector. Energy is exchanged from a set of turning impeller blades to the gas in the centrifugal compressor. The designation centrifugal suggests that the gas stream is outspread, and the energy exchange is caused by an adjustment in the centrifugal forces acting on the gas. This kinetic energy is then changed over to an increase in potential energy/static weight by moderating the course through a diffuser. Centrifugal compressors convey high flow capacity per unit of introduced space and weight, have great dependability, and require fundamentally less maintenance than different compressors used as a part of the segment.
In terms of revenue, Global Centrifugal Compressors Market was valued at US$ 10.92 billion in 2016 and is expected to reach US$ 23.87 billion by 2025, expanding at a CAGR of 9.2% from 2017 to 2025. The North America Market alone is forecast to be worth $XX billion in 2025, accounting for XX% of the overall Centrifugal Compressors market. Centrifugal compressors offer certain operational benefits over ordinary natural gas compressors and are instrumental in an everyday oil and gas operations. Some of them are essentially decreased sour oil spillage and can be supplied with a component that enables the compressor to maintain case weight amid the shutdown without requiring that the auxiliary seal oil framework is working.
Among by-vertical segments, the oil refineries segment represented a major share of the Global Centrifugal Compressors Market in 2016 and is anticipated to hold the largest share of the overall market throughout the forecast period. On the basis of Application, the offshore segment is anticipated to hold the largest share of the overall market throughout the forecast period.
The market is relied upon to keep prospering in developed and emerging economies of the world. North America is evaluated to be the biggest market as the region's new exploration activity is at an all-time high and the ongoing shale boom boosting the oil and gas industry. Europe and Asia-Pacific are developing rapidly in terms of market demand. Demand is high predominantly in some republics such as China, India, United Kingdom, and the Netherlands. Nations, for example, South and Central America and Africa are relied upon to have a decent share of the market demand in the coming years in spite of the fact that there are a few components limiting the oil and gas activity in these regions. Despite the fact that there are certain factors limiting the oil and gas market activity, the market demand is relied upon to originate from the current operations.
The report provides both, qualitative and quantitative research of the Global Centrifugal Compressors Market, as well as encompasses worthy insights into the rational scenario and favored improvement methods adopted by key contenders. Some of the primary players of Global Centrifugal Compressors Market are Baker Hughes Incorporated, Johnson Controls, Dresser-Rand, FS-ELLIOTT CO., LLC, Schlumberger Limited., Sundyne, Danfoss, GENERAL ELECTRIC, Atlas Copco Ltd., Kirloskar Pneumatic Company Limited, IHI Rotating Machinery Engineering Co., Ltd., Howden Group, Man Diesel & Turbo, MITSUBISHI HEAVY INDUSTRIES, LTD., MITSUI & CO., LTD., Siemens Ltd., Ingersoll-Rand plc., Hitachi, Ltd., KOBELCO, and Elliott Group among others.