Axial Flow Compressors Market Size, Share, Growth, and Industry Analysis, By Type (Inlet Flow: Less Than 300 K CMH, Inlet Flow: 300-800 K CMH, Inlet Flow: More Than 800 K CMH), By Application (Metallurgy Industry, Petrochemical, Other) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

AXIAL FLOW COMPRESSORS MARKET REPORT OVERVIEW

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The global axial flow compressors market size was USD 450.2 million in 2020 and will touch USD 584.2 million by 2027, exhibiting a CAGR of 3.8% during the forecast period.

Axial flow compressors are a type of compressor used in aircraft engines, power plants and other industrial applications to compress air or gas in a continuous flow along an axis. These compressors have a series of rotating blades called rotor blades and fixed blades called stator blades that work together to compress the liquid. This design allows high efficiency and compact size, making axial flow compressors ideal for applications where large volumes of air or gas must be compressed.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The outbreak of COVID-19 has caused an economic downturn in industries and restrictions have been imposed in several countries. Work stoppages in various industries affected production and damaged the global economy. Consequently, the requirements for axial flow compressors are also affected.

LATEST TRENDS

"Shift To Energy-Efficient And Eco-Friendly Compressors Due To Increasing Regulations And Customer Sustainability Demands Will Drive Market Growth"

Emerging trends in the global axial flow compressor market growth include the shift to energy-efficient and eco-friendly compressors due to increasing regulations and customer sustainability demands. Another trend is the introduction of digitization and automation in compressor systems, which allows better monitoring, maintenance and optimization of performance. In addition, there is a growing demand for compressors with better durability and reliability and a compact and light design that facilitates installation and transportation. It is also becoming increasingly popular in the market to customize and integrate compressors with other equipment to meet specific application requirements. Overall, these trends aim to improve efficiency, lower operating costs and meet the changing needs of various industries.

AXIAL FLOW COMPRESSORS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Inlet Flow: Less Than 300 K CMH, Inlet Flow: 300-800 K CMH, Inlet Flow: More Than 800 K CMH.

The first type includes compressors with an inflow of less than 300 K CMH (cubic meters per hour).

The second type includes compressors with an inlet flow of 300-800 K CMH.

The third type includes compressors with an inlet current exceeding 800 K CMH. These different market types correspond to different industrial needs and requirements for efficient compression of gases or liquids.

• By Application

Based on application the global market can be categorized into Metallurgy Industry, Petrochemical, Other.

Axial flow compressors are widely used in the metallurgical industry in various applications such as blast furnace air supply, gasification and cooling systems.

In the petrochemical industry, these compressors are used in processes such as gas treatment, hydrocracking and cooling.

In addition, axial flow compressors have applications in many other markets, such as oil refineries, power plants, chemical plants and the aerospace industry, where they are used to compress gas and regulate air flow to increase efficiency and productivity.

Generally, these compressors play an important role in improving the performance of various industries.

DRIVING FACTORS

"Rapid Industrialization In Developing Economies to Boost The Market Growth"

Axial flow compressors are gas compressors that continuously pressurize gases. These are rotary, airfield-based compressors in which gases or working fluids flow primarily parallel or axially to the axis of rotation. The main components of an axial flow compressor are the rotor blades and the stator or fixed blades, the first carrying the moving blades and the latter the rows of fixed blades. The energy level of the liquid increases as it flows through the compressor under the influence of the rotor blades, which apply torque to the liquid. Fixed vanes slow the flow of fluid and convert the flow into pressure on the peripheral component. Compressors are usually powered by a gas turbine, electric motor or steam. Axial flow compressors are used in a variety of industries, including metals and mining, construction, oil and gas, pharmaceuticals, construction, automotive and transportation, packaging, power generation, and healthcare. In addition, 70% of all manufacturers use compressed air systems. Due to increasing investments and capacity additions, the industrial axial flow compressors market has a huge growth potential due to rapidly increasing industrialization and manufacturing activities. Several emerging economies, including those in Asia and Africa, accelerated their industrial and economic development. The demand for industrial compressors is also driven by government programs to support industrial automation and the focus on industrial automation to ensure the best possible use of resources. These programs can be used to operate conveyors, pneumatic tools, packaging, automation equipment and more.

"Demand In The Water And Wastewater Treatment Industry to Drive Market Growth "

Setting up a refinery requires industry knowledge and experience under pressure from high regulatory requirements. But refining capacity is growing worldwide and is likely to continue to grow in the future. According to the International Energy Agency, refining capacity is expected to increase by 1.2 million barrels in 2022. Additionally, favorable government policies and increased FDI in several sectors such as petrochemicals, natural gas, and refineries are expected to benefit compressor manufacturers worldwide. in the world Thus, the market will grow significantly in the near future. The global axial flow compressors market is expected to grow due to increasing demand in the water and wastewater treatment industry. In the water treatment industry, axial flow impellers are used to direct or pump water through various stages of processing. These compressors are used to recycle liquids in water boilers. In this field, axial flow impellers drive large fluid flows in process plants. The increasing use of these compressors in end-use sectors including power generation, chemical industry, and oil and gas industry is estimated to improve the market outlook during the forecast period.

RESTRAINING FACTORS

"Availability Of Substitute Products Poses A Threat To The Market Growth"

The availability of replacement products for these compressors including rotary compressors is estimated to limit the market growth during the forecast period. In addition, stringent environmental regulations in the oil and gas sector and increasing demand for customization in various end-user industries are hampering the axial flow compressors market growth. The manufacturing of products in Europe and the introduction of new compressor technology, including screw compressors, will further complicate the market.

AXIAL FLOW COMPRESSORS MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market Due To Extensive Adoption Of Technological Advancements "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is believed to dominate the axial flow compressors market share due to extensive adoption of technological advancements in products. The presence of major players is also estimated to favor the growth of the regional market. Manufacturers such as GE Power, Elliot Group and others dominated the regional market. The water and wastewater industry is estimated to contribute to the market outlook. For example, in Canada, the majority of the population is served by domestic sewage systems.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The axial flow compressors market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• MAN SE (Germany)
• Xi’an Shaangu Power (China)
• GE (U.S.)
• Siemens (Germany)
• Elliott Group (U.S.)
• Mitsui E&S Group (Japan)
• Shenyang Blower Works (China)

INDUSTRIAL DEVELOPMENT

January 2020: Ariel Corporation released the next generation "Ariel Smart Compressor", a factory-installed electronics platform offered on select Ariel compressor models.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.