Stationary Centrifugal Compressor Market Size, Share, Growth, And Industry Analysis, By Type (Single Stage Centrifugal Compressors and Multi Stage Centrifugal Compressors), By Application (Petrochemical, General Manufacturing, Transportation and Others), Regional Forecast To 2031

Updated On: 22 April 2024

Stationary Centrifugal Compressor Market Report Overview

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The global stationary centrifugal compressor market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Compressors with positive displacement such as stationary centrifugal compressors, employ rotating impellers to raise the volume of gas or vapor. After being sucked into the impeller's center, in which its speed is enhanced, the gas is quickly ejected out, wherein the velocity is raised. Air conditioning, petrochemical treatment, cooling, natural gas compaction, and electricity production are just a few of the commercial and industrial uses for centrifugal compressors. They are also employed in gas turbine and compressed air installations, where they are frequently used to reduce the volume of combustion air before it reaches the rotor.

Global petrochemical and energy facility construction is expected to stimulate industrial expansion. Additionally, the industry's ongoing technological development is also anticipated to encourage the adoption of new goods. Companies are investing more heavily in tough R&D projects to create new and innovative products. Stationary centrifugal compressors that use less energy are becoming increasingly common due to price increases. The energy required to run these compressors is now far reduced, increasing energy savings and reducing emissions of greenhouse gases. Product adoption is likely to be considerably aided in the years to come by both expanding equipment needed in this industry and rising living levels in developing nations.

COVID-19 Impact: Supply Chain Disruptions Brought on by the Pandemic Halted the Compressor Industry

The stationary centrifugal compressor segment has been significantly impacted by the COVID-19 pandemic. Centrifugal compressor demand fell in a number of end-use businesses, notably petrochemical manufacturing, natural gas compressing, and electricity production, as a result of the pandemic's impact on the global economy and its subsequent recession. Centrifugal compressor production, shipment, installation, and upkeep were all impacted by the pandemic's supply chain interruptions, as were these compressors' ongoing maintenance and installation. Centrifugal compressor repair and maintenance were affected by the decrease in labor capacity brought on by curfews and travel bans, which consequently affected demand.

Latest Trends

"Launch of New Compressor Combined with Technology Offers Users Several Advantages "

The number of stationary centrifugal compressors being launched has increased. For illustration, Ingersoll Rand introduced the MSG Turbo-Air 2000 Centrifugal Compressor's new version in January 2020 specifically for the Indian market. With an operating pressure of 3.5 Barg to 10 Barg, the MSG Turbo-Air 2000 can handle flowing capacities of 505 CFM to 1700 CFM. Ingersoll Rand's technology, which provides great reliability, higher efficiency, and simplicity of use, powers the new compressors to guarantee there is no oil pollution.

Stationary Centrifugal Compressor Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Single Stage Centrifugal Compressors and Multi Stage Centrifugal Compressors

• By Application Analysis

Based on application, the market can be divided into Petrochemical, General Manufacturing, Transportation and Others

Driving Factors

"Increasing Use of Single Stage Compressors in Various End-Use Industries is Growing the Market"

Market share is anticipated to be significant for the single stage centrifugal compressors segment. For a variety of uses, including petrochemical products, refineries, and petroleum and natural gas, single stage compressors are being adopted more frequently. The beam structure or an impeller configuration with an overhang were both used in single-stage compressors. These centrifugal are made up of a single impeller, a dispersion, and an inlet guide vane. Simple and easy to maintain is the single stage centrifugal. These stationary centrifugal compressors need less upkeep and can be repaired more quickly thanks to their build quality.

"Major Advantages Offered by the Compressors Compared to Other Types Makes it a Suitable Option  "

The highly energetic effectiveness of stationary compressors as compared to certain other forms of compressors is their major advantage. They need less energy than other compressors to squeeze the very same volume of air, which lowers running expenses. When compared to other varieties of compressors, these compressors require less maintenance. They have fewer moving components and are frequently made with easily accessible parts, which helps cut down on repair costs and time. Furthermore, centrifugal compressors are adaptable and useful in a range of applications, such as the compression of fossil fuels, treatment of petrochemicals and electric generation. These factors fuel the stationary centrifugal compressor market growth.

Restraining Factors

"Market Expansion is Hampered by High Initial Costs and Maintenance Requirements"

A centrifugal compressor has a higher initial cost than some other varieties of compressors since it must be purchased and installed. Small and medium-sized businesses may be discouraged by this since they might lack the funds to purchase an elevated centrifugal compressor. Furthermore, even though stationary centrifugal compressors are renowned for their dependability and simplicity of upkeep, they still need regular inspection to work at their best. Customers that desire low-maintenance options may find this to be a disadvantage.

Stationary Centrifugal Compressor Market Regional Insights

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"Asia Pacific Dominated the Market due to the Presence of Multiple End-use Industries in the Region"

The stationary centrifugal compressor market share was dominated by the Asia Pacific region, which accounted for a sizable portion of the global market. Due to the abundance of end-use industries in regions such as India, and China, including the petrochemical, oil and natural gas, and electrical generation sectors, the industry in the Asia Pacific area has been expanding. The expansion of the stationary compressor market throughout the Asia Pacific area has been fueled by an increasing requirement for energy-efficient and cost-effective alternatives in these sectors. In addition, the nation's expanding economy and rising infrastructure investment initiatives are contributing to the industry's expansion.

Key Industry Players

"Key Players are Utilizing Various Methods to Increase their Market Shares "

With numerous international and domestic market players, the market for stationary centrifugal compressors is quite dynamic. The competitiveness in the market is heightened by possibilities, increased revenues, and product portfolio. In addition, the top companies are utilizing methods including new product launches, business expansion, resource utilization, contracting, and product innovation to maintain their market share. Furthermore, a number of businesses are collaborating, acquiring, merging, licensing, and agreeing for increasing their product reach in the centrifugal compressors market.

List of Market Players Profiled

• Hitachi (Japan)
• GE (U.S.)
• Siemens (Germany)
• Elliott (U.S.)
• Kawasaki (Japan)
• Hanwha (South Korea)
• MAN (Germany)
• Baker Hughes (U.S.)
• Solar Turbines (U.S.)
• Ingersoll Rand (U.S.)
• Atlas Copco (Sweden)
• MHI (Japan)
• Sullair (U.S)
• Kobelco (Japan)
• Nash (U.S.)

Report Coverage

This report covers the stationary centrifugal compressor market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.