Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 8.4 Billion | USD 12.9 Billion | 5.5% | 2024 |
FrequentlyAsked Questions
A centrifugal compressor is a dynamic compressor that raises the pressure of a gas by accelerating it to a high velocity and then converting its kinetic energy into pressure. They use a rotating impeller to impart velocity to the gas, which then travels through a diffuser, where it reduces velocity and increases pressure.
The centrifugal air compressor industry is being driven by several factors such as expansion in infrastructure development, especially in developing economies, technological advancements, innovative product launches, and others.
According to the report, the global centrifugal air compressor market size was worth around USD 8.4 billion in 2024 and is predicted to grow to around USD 12.9 billion by 2034.
The global centrifugal air compressor market is expected to grow at a CAGR of 5.5% during the forecast period.
The global centrifugal air compressor industry growth is expected to be driven by the Asia Pacific region. It is currently the world’s highest revenue-generating market, driven by increasing urbanization and industrialization.
The global centrifugal air compressor market is dominated by players like Gardner Denver Holdings Inc., Atlas Copco AB, Ingersoll-Rand PLC, Baker Hughes a GE Co., Sundyne, Zhejiang Kaishan Compressor CO. LTD., Dresser-Rand Group Inc., Mitsubishi Heavy Industries Compressor Corporation, Howden Group, Sullair, LLC, Boge Compressors, Sundyne, Hanwha Power Systems, Hitachi, and MAN Energy Solutions, among others.
The market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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