DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "North American Compressors Market in the Oil and Gas Industry - Forecast to 2023" report to their offering.
The North American oil and gas compressor market size is expected to exceed USD 1.2 billion by 2020. Oil prices had been in decline over the past two years, hitting a low of $26 per barrel in first quarter of 2016. This severely impacted new investments in the oil and gas industry both in upstream and midstream. Even many projects in the chemicals industry were affected.
As oil prices have stabilized and stayed above $50 for the past few months, there has been optimism in the industry after 3 years. As commodity prices (such as oil and gas, metals, and minerals) stay low, end users need to reduce the cost of operation to increase profitability. Companies not only need to develop energy-efficient solutions but also focus on increasing customer awareness by developing and marketing case studies and white papers to show the expected return on investment. This will facilitate customer adoption of such solutions.
Digital transformation caused by convergence of industry forces is driving unprecedented change. Data is the new currency, and there is demand from end users to generate and mine the data to convert it into actionable insights. This will transform the compressors market, and it is poised to experience strong growth in the next few years.
- Atlas Copco
- Barber Nichols
- Elliot Turbo
- Gardner Denver
- Howden Process
- Ingersoll Rand
- Man Turbo
- Neuman & Esser
- Rolls Royce
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Drivers and Restraints - Total Compressors Market in the Oil and Gas Industry
4. Forecasts and Trends - Total Compressors Market in the Oil and Gas Industry
5. Market Share and Competitive Analysis - Total Compressors Market in the Oil and Gas Industry
6. Growth Opportunities and Companies to Action
7. Process Gas Compressors Segment Breakdown
8. Air Compressors Segment Breakdown
9. The Last Word
For more information about this report visit http://www.researchandmarkets.com/research/r9s7g7/north_american