Global Oil & Gas Industry Gas Compressor Market Outlook: 2018-2023 - ResearchAndMarkets.com

DUBLIN--()--The "Global Oil & Gas Industry Gas Compressor Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

Oil & gas industry amounts to more than 50% of the global gas compressor market. Growth in gas compressor market is closely linked with oil & gas prices. The oil prices are expected to increase during the forecast period, which in turn, is expected to drive the market.

Rising electricity demand in emerging markets, such as India, China, Brazil, and Mexico are expected to drive the natural gas demand in power generation sector. Apart from that, global demand for natural gas is expected to rise as natural gas is more environment-friendly compared to other fossil fuels, such as oil, and there is a global trend towards consumption of cleaner fuel owing to concerns about air pollution and global warming. Hence, the share of the gas in total global energy consumption is expected to grow, while the share of oil is expected to drop during the forecast period. As a result of this trend, the oil & gas industry is expected to move towards gas from oil, in turn driving the demand for gas compressors in oil & gas industry.

Technological advancements to make the compressor more energy efficient and environmental friendly, allowing replacement of the higher number of existing conventional compressor units economically viable, which in turn, is expected to increase the demand for the gas compressors. A good example is, in 2013, Atlas Copco launched GA VSD+ compressor. This model has registered substantial success, as it can reduce the energy consumption up to 50% compared to the conventional compressor, making replacement of old compressors with advanced compressors an economically viable option.

Key Developments in the Market

  • February 2018: Maersk Oil has awarded a contract to Baker Hughes GE (BHGE) to provide turbomachinery, including gas compressors, for Tyra field redevelopment project in Danish North Sea area. The order includes seven compressor trains, equipped with active magnetic bearing (AMB) solution for driver and driven equipment

Key Topics Covered

1. Executive Summary

2. Research Methodology

3. Market Overview

4. Market Dynamics

5. Value Chain Analysis

6. Industry Attractiveness - Porter's Five Forces Analysis

7. Market Segmentation and Analysis

8. Regional Market Analysis

9. Key Company Analysis

  • Atlas Copco Ltd
  • General Electric
  • Ingersoll Rand Plc
  • Siemens AG
  • Sulzer Ltd
  • Kobe Steel Ltd.
  • Aerzen
  • Ariel Corporation
  • Bauer Compressors Inc
  • Burckhardt Compression AG
  • Ebara Corporation
  • Gardner Denver Inc.
  • Wrtsil
  • PSG Technologies

10. Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/research/bb3rvg/global_oil_and?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
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For GMT Office Hours Call +353-1-416-8900
Related Topics: Oil, Compressors

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Oil, Compressors