Turbocompressor Market Size, Status and Global Outlook Hits a CAGR of 6.3% by 2030 | By AMR
Turbocompressor Market Expected to Reach $29.3 Billion by 2030
PORTLAND, OR, UNITES STATES, March 28, 2023 /EINPresswire.com/ — Turbocompressors are a type of machine that increases the capacity of fuel in addition with the increased energy of the engines. Turbocompressor are turbo machines that concentrate a compressible gas with the help of a dynamic principle.
In turbocompressor, the gas continuously enters the rotating impeller, through which the mechanical shaft power is distributed to the fluid with the help of blades that results in a significant pressure and temperature increase. The remaining kinetic flow energy is then mostly converted into pressure in the diffusor. The compressed gas is then either collected in a volute or transferred to a second compressor stage with the help of a return channel. Turbocompressors are highly used in dirty and corrosive applications such as petrochemical plants, refineries, natural gas processing, coal gasification, and power stations due to their longer life, low maintenance, and continuous service.
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According to AMR, the global turbocompressor market size was valued at $15.7 billion in 2020, and is expected to reach $29.3 billion by 2030, with a CAGR of 6.3% from 2021 to 2030.
Top Players:
Atlas Copco AB, Elliott Group, General Electric, Howden Group, Ingersoll Rand, Kawasaki Heavy Industries, Ltd., KOBE STEEL, LTD., MAN Energy Solutions, MITSUBISHI HEAVY INDUSTRIES, LTD. And Siemens.
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Driving Factors:
The driving factor for the turbocompressor market is the application of turbocompressor in the water & wastewater treatment. Turbocompressors are used to provide more efficiency and lower maintenance, which saves cost during wastewater treatment for removing pollutants.
In addition, the rise in regulations over the use of clean energy, such as the Clean Air Act, increases the use of liquified natural gas trade over different countries, including the U.S. and Australia.
Turbocompressors are used for the liquified natural gas applications that maintain the pressure ratio, which creates more demand for the turbocompressor, further driving the turbocompressor market growth.
Segmentation Based On:
The turbocompressor market is segmented on the basis of type, stage, end user, and region.
On the basis of type, the market is divided into centrifugal and axial.
On the basis of stage, the market is divided into single stage and multistage.
On the basis of end user, the market is segmented into oil & gas, power generation, chemical, and others.
Region wise, the global turbocompressor market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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