LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global gas compressors market report. This research report also lists 32 other prominent vendors that are expected to impact the market during the forecast period.
Major end-user industries such as oil and gas and power generation industries are experiencing a phase of slow growth. As a result, the demand for compressors is primarily expected to be generated from replacement activities. In the oil and gas sector, several recent exploration attempts have turned out to be failures. Thus, the production in the existing rigs has increased.
Competitive vendor landscape
According to the report, companies should expand their business in an environmentally, economically, and socially responsible way. To achieve this, companies should focus on increasing their market presence worldwide, expanding market penetration in mature and developing markets, and continuously developing enhanced products and solutions to cater to the customer demands.
“The vendors are trying to enhance their product portfolio and service offering. They are also expanding the market coverage and customer base to gain a competitive edge over their peers,” says Gaurav Mohindru, a lead unit operations research analyst from Technavio.
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Top six gas compressors market vendors
Atlas Copco develops, manufactures, and markets compressed air equipment and generators, electric and pneumatic tools, construction and mining equipment, and assembly systems, and offers related services. It mainly markets its products to manufacturing, construction, building, and mining companies worldwide.
GE is a diversified infrastructure, healthcare, and financial services company. It operates through more than 100 subsidiaries to serve customers in over 170 countries.
Ingersoll Rand manufactures and markets products and services that cater to the needs of quality and comfort of air in industrial productivity, transport, home, buildings, and to protect food and perishables. The company's brands, including Club Car, Thermo King, Ingersoll Rand, and Trane, work together to enhance the quality and comfort of air in buildings, secure homes, and commercial properties; increase industrial productivity and efficiency; and transport and protect food and perishables.
Siemens is a Germany-based multinational conglomerate, with core activities in fields of energy, healthcare, industry, and infrastructure sectors. It focuses on areas of electrification, automation, and digitalization.
Sulzer offers its products to various industries including oil and gas, hydrocarbon processing, power generation, water, automotive, and aviation. The company operates through three reportable divisions, namely Sulzer Pumps, Sulzer Chemtech, and Sulzer Turbo Services.
Wuxi Compressor produces compressors. Its products include process compressors, labyrinth compressors, centrifugal compressors, general compressors, and airport ground support equipment. It also offers parts management services.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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