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Air Compressor In Oil And Gas Industry Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, Germany, UK - Size and Forecast 2024-2028

Air Compressor In Oil And Gas Industry Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, Germany, UK - Size and Forecast 2024-2028

Published: Jul 2024 155 Pages SKU: IRTNTR76135

Market Overview at a Glance

$2.54 B
Market Opportunity
4.36%
CAGR
4.11
YoY growth 2023-2024(%)

Air Compressor In Oil And Gas Industry Market Size 2024-2028

The air compressor in oil and gas industry market size is forecast to increase by USD 2.54 billion at a CAGR of 4.36% between 2023 and 2028.

  • The air compressor market In the Oil and Gas Industry is witnessing significant growth due to several key trends. One of the primary factors driving market growth is the shift towards more energy-efficient compressors. With increasing focus on economy and energy security, oil and gas companies are investing in compressors that offer improved energy efficiency and reduced operational costs. Another trend influencing market growth is the growing concern for the environment. As oil and gas exploration and production activities continue to expand, there is a rising need to minimize the environmental impact of these operations. Energy-efficient compressors not only help reduce operational costs but also contribute to a greener footprint.
  • However, challenges such as high initial investment costs and the need for regular maintenance persist, which may hinder market growth to some extent. Despite these challenges, the market is expected to continue its upward trajectory, driven by the need for efficient and sustainable solutions In the Oil and Gas Industry.

    • What will be the Size of the Air Compressor In Oil And Gas Industry Market During the Forecast Period?

    Air Compressor In Oil And Gas Industry Market Size

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  • The air compressor market In the oil and gas industry experiences significant growth due to the increasing demand for industrial automation in various sectors, including natural gas production and oil refineries. The adoption of oil-free air compressor systems is on the rise, particularly in applications where oil contamination is not acceptable, such as pneumatic tools and automation equipment in power generation projects, chemical plants, and commercial manufacturing. Reciprocating compressors continue to dominate the market, while centrifugal compressors and stationary compressors cater to the specific requirements of large-scale oil and gas operations. The integration of air compressors in hydrogen production and the expansion of the natural gas sector contribute to the market's continued growth.
  • The energy and power, electronics, semiconductor industries, and other industrial sectors also utilize air compressors for diverse applications, further bolstering market demand.

    • How is this Air Compressor In Oil And Gas Industry Industry segmented and which is the largest segment?

    The air compressor in oil and gas industry industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Product
      • Positive displacement (PD)
      • Centrifugal
    • Type
      • Stationary
      • Portable
    • Geography
      • APAC
        • China
        • Japan
      • North America
        • US
      • Europe
        • Germany
        • UK
      • South America
        • Middle East and Africa

        By Product Insights

        • The positive displacement (pd) segment is estimated to witness significant growth during the forecast period.

        The air compressor market In the oil and gas industry is primarily driven by the demand for oil-free systems In the natural gas sector. PD compressors, including reciprocating compressors, remaIn the dominant segment due to their efficiency and ability to handle high-pressure applications. Stationary air compressors, powered by electric motors, diesel engines, or gasoline engines, are extensively used in various industries, such as oil refineries, power plants, and chemical plants, for power generation projects and industrial automation. Air compressors are integral to the gas pipeline industry, enabling the transportation and processing of natural gas. They power pneumatic tools, automation equipment, conveyors, and other industrial processes.

        In the context of energy savings and emission reduction, air audits help identify production losses and emission standards, ensuring air quality and energy conservation standards are met. PD compressors, including oil-free rotary compressors, centrifugal compressors, and stationary compressors, contribute significantly to the commercial manufacturing and industrial sectors, including electronics, semiconductor industries, and hydrogen production. Keywords: air compressor, oil and gas industry, positive displacement compressors, reciprocating compressors, stationary air compressors, electric motor, diesel engine, gasoline engine, natural gas sector, industrial automation, pneumatic tools, conveyors, energy savings, emission standards, air quality, energy conservation standards, PD compressors, industrial sectors, electronics, semiconductor industries, hydrogen.

        Air Compressor In Oil And Gas Industry Market Size

        Get a glance at the  Air Compressor In Oil And Gas Industry Industry report of share of various segments Request Free Sample

        The Positive displacement (PD) segment was valued at USD 5.98 billion in 2018 and showed a gradual increase during the forecast period.

        Regional Analysis

        • APAC is estimated to contribute 43% to the growth of the global market during the forecast period.

        Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

        Air Compressor In Oil And Gas Industry Market Share by Geography

        For more insights on the market share of various regions, Request Free Sample

        The air compressor market In the oil and gas industry across APAC is projected to expand significantly due to the growth In the oil and gas pipeline segment, LNG, and petrochemical industries in countries like India, China, South Korea, Indonesia, and Thailand. The increasing industrial development and energy security needs in China and India, with their substantial energy demands, are driving this growth. Several cross-country oil and gas pipelines are planned for hydrocarbon transportation In these countries. China holds the world's largest shale gas reserves, with over 31 TCM of technically recoverable resources (EIA). In this context, the oil-free systems, including reciprocating compressors, oil-free rotary compressors, and centrifugal compressors, are gaining popularity due to their ability to provide clean air for various applications, such as air conditioners, automation equipment, pneumatic tools, conveyors, and industrial processes in oil refineries, power generation projects, chemical plants, and other industrial sectors.

        Energy savings and emission reductions are essential considerations In the oil and gas industry, and air compressors play a crucial role in energy conservation and compliance with emission standards. Air audits and production losses due to contaminants and poor air quality are significant concerns, and advanced technologies, such as Big Data analytics and cloud technology, are being employed to optimize compressor performance and minimize energy waste. The Compressed Air Society's Code of Practice and various energy conservation standards guide the selection and operation of industrial air compressors, ensuring efficient and clean compressed air production.

        Market Dynamics

        Our  researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

        What are the key market drivers leading to the rise In the adoption of Air Compressor In Oil And Gas Industry Industry?

        Shift to more energy-efficient compressors is the key driver of the market.

      • In the oil and gas industry, air compressors play a crucial role in various applications, including power generation projects, oil refineries, and the gas pipeline industry. The shift towards oil-free systems, such as reciprocating compressors and rotary compressors, has gained momentum due to increasing environmental concerns and emission standards. These systems help reduce greenhouse gas emissions and improve air quality, making them a preferred choice for industrial automation and automation equipment, including pneumatic tools, conveyors, and other industrial processes. The stationary air compressor segment, which includes oil-free compressors, oil flooded compressors, centrifugal compressors, and reciprocating compressors, is expected to dominate the market.
      • The demand for industrial air compressors is driven by commercial manufacturing, industrial sectors, energy and power, electronics, semiconductor industries, hydrogen, and mining. Energy savings and energy conservation standards are key factors driving the adoption of air compressors In these industries. Moreover, the use of big data analytics and cloud technology In the oil and gas industry is expected to increase the demand for air compressors. The need for efficient and reliable compressed air systems to power automation equipment and pneumatic tools is essential for the smooth functioning of industrial processes. The Compressed Air Society's Code of Practice for Compressed Air Systems and various energy efficiency standards are ensuring that new air compressors meet the requirements for lower electricity consumption and reduced emissions.
      • In conclusion, the oil and gas industry's focus on energy efficiency and emissions reduction is driving the adoption of new air compressors. The demand for oil-free systems, energy savings, and the integration of big data analytics and cloud technology are expected to further boost the market growth. The stationary air compressor segment, including oil-free compressors, is expected to dominate the market due to its wide application in various industries.

        • What are the market trends shaping the Air Compressor In Oil And Gas Industry Industry?

        Rising focus on economy and energy security is the upcoming market trend.

      • In the Oil and Gas industry, air compressors play a significant role in powering various applications, including natural gas sector processes, oil refineries, power generation projects, and industrial automation. The stationary air compressor segment, which includes oil-free systems such as reciprocating compressors, rotary compressors, oil flooded compressors, centrifugal compressors, and others, dominates the market. Air compressors are utilized extensively In the gas pipeline industry for compressing natural gas to maintain pressure and flow through long-distance transmission. They are also employed in power plants to power air conditioners and other automation equipment, including conveyors and pneumatic tools. Industrial sectors like chemical plants and electronics, semiconductor industries, and hydrogen production rely on industrial air compressors for their energy-intensive processes.
      • Energy savings and reducing greenhouse gas emissions are critical factors driving the adoption of air compressors In the industry. Air audits help identify production losses and contaminants that can negatively impact air quality and efficiency. Emission standards and energy conservation standards further encourage the implementation of advanced air compressor technologies, such as energy-efficient electric motors and alternative energy sources like renewable energy. The Compressed Air Society's Code of Practice ensures the optimal performance and efficiency of air compressor systems. Big Data analytics and cloud technology are being integrated into air compressor systems to enhance monitoring, diagnostics, and predictive maintenance capabilities.
      • The mining industry also benefits from air compressors for various applications, such as drilling and material handling. In conclusion, the air compressor market In the Oil and Gas industry is expected to grow significantly due to the increasing demand for cleaner and more efficient energy sources, favorable government policies, and technological advancements. The market dynamics include energy savings, emission standards, air quality, and energy conservation standards. The stationary segment, including oil-free systems, remains the largest market shareholder.

        • What challenges does the Air Compressor In Oil And Gas Industry Industry face during its growth?

        Environmental concerns related to oil and gas exploration and production activities is a key challenge affecting the industry growth.

      • In the oil and gas industry, air compressors play a crucial role in various applications, particularly In the natural gas sector. Oil-free systems are increasingly preferred due to their ability to deliver clean air for use in air conditioners, pneumatic tools, automation equipment, conveyors, and other industrial processes. The gas pipeline industry relies on stationary air compressors to compress natural gas for transmission. Power plants utilize industrial air compressors for power generation projects, while oil refineries employ them for various processes, including energy savings and reducing greenhouse gas emissions. Stationary air compressors are available in different types, such as reciprocating compressors, rotary compressors, oil flooded compressors, centrifugal compressors, and more.
      • These compressors can be powered by electric motors, diesel engines, or gasoline engines, depending on the application requirements. The storage tank is an essential component of the compressed air system, ensuring a consistent and reliable supply of compressed air. The industrial automation sector, including electronics, semiconductor industries, and hydrogen production, also relies on industrial air compressors for various applications. Big Data analytics and cloud technology are increasingly being used to optimize compressed air systems, reducing production losses and improving energy efficiency. The Compressed Air Society's Code of Practice ensures the proper application, selection, installation, operation, and maintenance of compressed air systems, promoting energy conservation standards and reducing contaminants and emission standards.
      • The stationary segment of the air compressor market is expected to grow significantly due to the increasing demand for compressed air in various industries, including commercial manufacturing, power generation, oil and gas, chemical plants, and mining. The market dynamics are influenced by various factors, including energy savings, emission standards, and air quality concerns. Air audits are essential to identify and eliminate production losses and improve overall system efficiency. The market for air compressors is vast and diverse, offering opportunities for innovation and growth.

        • Exclusive Customer Landscape

        The air compressor in oil and gas industry market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the air compressor in oil and gas industry market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

        Air Compressor In Oil And Gas Industry Market Share by Geography

         Customer Landscape

        Key Companies & Market Insights

        Companies are implementing various strategies, such as strategic alliances, air compressor in oil and gas industry market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

        ANEST IWATA Corp. - The oil and gas industry relies heavily on air compressors for various applications, including powering pneumatic tools and providing process air for operations. Air compressors used in this sector require high efficiency and reliability due to the harsh operating conditions. The company provides a range of compressor solutions for the oil and gas market, including oil-free screw compressors ZR and ZT VSD, oil-free air centrifugal compressors ZH and ZH Plus, and oil lubricated screw compressors GA VSD Plus. These compressors offer superior performance, energy efficiency, and low maintenance requirements, making them ideal for the demanding oil and gas environment. The company's compressor portfolio caters to diverse applications withIn the industry, ensuring optimal productivity and cost savings for customers.

        The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

        • ANEST IWATA Corp.
        • Atlas Copco AB
        • Bauer Comp Holding GmbH
        • BOGE
        • Chart Industries Inc.
        • Doosan Portable Power Co.
        • Elgi Equipments Ltd
        • Fusheng Precision Co. Ltd.
        • Gardner Denver
        • General Electric Co.
        • Hanbell Precise Machinery Co. Ltd.
        • Ingersoll Rand Inc.
        • KAESER KOMPRESSOREN SE
        • Kaishan Compressor USA
        • Kirloskar Pneumatic Co. Ltd.
        • Porsche Automobil Holding SE
        • Quincy Compressor
        • Siemens Energy AG
        • Sullair LLC
        • Sulzer Ltd.

        Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

        Research Analyst Overview

        Air compressors play a crucial role in various industries, including the natural gas sector. In this context, the focus is on stationary air compressors, which are integral to the efficient operation of numerous applications In the energy and power sector. These compressors are employed in diverse settings, such as oil refineries, power generation projects, chemical plants, and industrial automation systems. Stationary air compressors are available in various types, including oil-free systems, reciprocating compressors, rotary compressors, oil flooded compressors, and centrifugal compressors. Each type caters to specific requirements based on factors like pressure, volume, and temperature. The oil and gas industry relies heavily on stationary air compressors for several applications.

        For instance, in natural gas processing, these compressors are used to increase the pressure of natural gas to transport it through pipelines. In oil refineries, they help In the separation and processing of crude oil. In power generation projects, stationary air compressors are employed in combined cycle power plants to compress air for use in gas turbines. The demand for stationary air compressors In the oil and gas industry is driven by several factors. Energy savings is a significant consideration, as these compressors contribute to substantial energy consumption. The adoption of energy conservation standards and the need to reduce greenhouse gas emissions have led companies to invest in more efficient compressor technologies.

        Air quality is another critical factor influencing the market dynamics. Contaminants In the compressed air can lead to production losses and equipment damage. To mitigate these issues, the use of oil-free compressors and advanced filtration systems has gained popularity. The stationary segment of the industrial air compressor market is witnessing significant growth due to the increasing automation in various industries. Automation equipment, conveyors, pneumatic tools, and other applications require clean, dry, and oil-free compressed air. The semiconductor and electronics industries, in particular, have stringent requirements for air quality due to the sensitivity of their manufacturing processes. The integration of big data analytics and cloud technology In the industrial sector is also driving the demand for stationary air compressors.

        These technologies enable predictive maintenance, optimizing compressor performance, and reducing downtime. The market for stationary air compressors is expected to witness continued growth due to the increasing demand for cleaner and more efficient energy sources. The emergence of hydrogen as a potential energy source is particularly noteworthy, as it requires high-pressure compression for storage and transportation. In conclusion, the stationary air compressor market In the oil and gas industry is a dynamic and evolving landscape. Factors such as energy savings, air quality, and automation are driving the demand for more efficient and advanced compressor technologies. The integration of big data analytics and cloud technology is set to further transform the market, offering opportunities for innovation and growth.

        Market Scope

        Report Coverage

        Details

        Page number

        155

        Base year

        2023

        Historic period

        		 2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 4.36%

        Market growth 2024-2028

        USD 2538 million

        Market structure

        Fragmented

        YoY growth 2023-2024(%)

        4.11

        Key countries

        China, US, Japan, Germany, and UK

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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        What are the Key Data Covered in this Air Compressor In Oil And Gas Industry Market Research and Growth Report?

        • CAGR of the Air Compressor In Oil And Gas Industry industry during the forecast period
        • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
        • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
        • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
        • Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
        • Thorough analysis of the market’s competitive landscape and detailed information about companies
        • Comprehensive analysis of factors that will challenge the air compressor in oil and gas industry market growth of industry companies

        We can help! Our analysts can customize this air compressor in oil and gas industry market research report to meet your requirements.

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        Table of Contents not available.

        Research Methodology

        Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

        INFORMATION SOURCES

        Primary sources

        • Manufacturers and suppliers
        • Channel partners
        • Industry experts
        • Strategic decision makers

        Secondary sources

        • Industry journals and periodicals
        • Government data
        • Financial reports of key industry players
        • Historical data
        • Press releases

        DATA ANALYSIS

        Data Synthesis

        • Collation of data
        • Estimation of key figures
        • Analysis of derived insights

        Data Validation

        • Triangulation with data models
        • Reference against proprietary databases
        • Corroboration with industry experts

        REPORT WRITING

        Qualitative

        • Market drivers
        • Market challenges
        • Market trends
        • Five forces analysis

        Quantitative

        • Market size and forecast
        • Market segmentation
        • Geographical insights
        • Competitive landscape

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        Frequently Asked Questions

        Air Compressor In Oil And Gas Industry market growth will increase by $ 2538 mn during 2024-2028.

        The Air Compressor In Oil And Gas Industry market is expected to grow at a CAGR of 4.36% during 2024-2028.

        Air Compressor In Oil And Gas Industry market is segmented by Product( Positive displacement (PD), Centrifugal) Type( Stationary, Portable)

        ANEST IWATA Corp., Atlas Copco AB, Bauer Comp Holding GmbH, BOGE, Chart Industries Inc., Doosan Portable Power Co., Elgi Equipments Ltd, Fusheng Precision Co. Ltd., Gardner Denver, General Electric Co., Hanbell Precise Machinery Co. Ltd., Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, Kaishan Compressor USA, Kirloskar Pneumatic Co. Ltd., Porsche Automobil Holding SE, Quincy Compressor, Siemens Energy AG, Sullair LLC, Sulzer Ltd. are a few of the key vendors in the Air Compressor In Oil And Gas Industry market.

        APAC will register the highest growth rate of 43% among the other regions. Therefore, the Air Compressor In Oil And Gas Industry market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

        China, US, Japan, Germany, UK

        • Shift to more energy-efficient compressorsClimate change and global warming have resulted in the need to focus on energy efficiency is the driving factor this market.
        • followed by a reduction in emissions in the oil and gas industry. The primary objective of increasing energy efficiency is to cut down carbon emissions significantly. The regional governments in Europe and North America have taken initiatives to ensure that the various equipment used in industries is the driving factor this market.
        • such as compressors is the driving factor this market.
        • motors is the driving factor this market.
        • and pumps is the driving factor this market.
        • comply with the respective regional regulations. Lower electricity consumption is another key reason for the adoption of new air compressors in the end-user industries.Moreover is the driving factor this market.
        • electricity consumption accounts for 70% of the total lifetime costs of compressors. To increase overall energy efficiency is the driving factor this market.
        • industrial end-users must adopt compressors incorporated with efficient and reliable controls. This has encouraged the oil and gas industry to reduce its power consumption by replacing its old air compressors with new energy-efficient air compressors. For instance is the driving factor this market.
        • KAESER KOMPRESSOREN SE (Kaeser) is the driving factor this market.
        • in association with Siemens AG (Siemens) is the driving factor this market.
        • has developed compressor controls incorporated with the latest technology. This comprises an industrial-based PC with an Intel microprocessor inside it. Five different types of compressor control configurations are available is the driving factor this market.
        • which monitor the compressor operation is the driving factor this market.
        • thus increasing energy savings. Moreover is the driving factor this market.
        • compressor vendors must abide by the ISO 8573 standards is the driving factor this market.
        • leading to an increase in the demand for these air compressors is the driving factor this market.
        • which will propel the growth of the global air compressor market in oil and gas industry during the forecast period. is the driving factor this market.

        The Air Compressor In Oil And Gas Industry market vendors should focus on grabbing business opportunities from the Positive displacement (PD) segment as it accounted for the largest market share in the base year.