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The reciprocating compressor market is set to reach US$ 7.0 BN by 2032, at a 5.90% CAGR between years 2023-2032. The market is dynamic and rapidly changing in the direction of developed trends that determine its dynamics. This section of the compressor market has experienced significant growth overtime due to various industrial applications, demand for compressed air and gases.
A major driver of market dynamics is the growing scope of industry applications, including oil and gas, petrochemicals manufacturing energy. The reciprocating compressor market continues to be driven by the oil and gas industry. As the worldwide demand for energy grows, compressor solutions that oil & gas exploration and extraction activities need to be more resilient.
The reciprocating compressors can also be used in upstream and downstream processes due to their high efficiency rates and or reliability. Therefore, these market players are constantly innovating to create reciprocating compressors that conform to the rigorous standards of this industry. Additionally, the petrochemical industry is a major determining factor in developing market trends.
Reciprocating compressors are vital in many petrochemical processes including refining, chemical production among other. Specialty chemicals and refined products also necessitate advanced compression technologies to satisfy the increased demand. In this way, manufacturing companies target making reciprocating compressors capable of dealing with a variety of gases suitable for different petrochemical applications requiring high-performance.
In the manufacturing industry, reciprocating compressors are used for air and gas compression that comes into play in numerous processes. These compressors fulfil the varied requirements of manufacturing units ranging from pneumatic tools to assembly line operations. The market dynamics is driven by the increasing attention towards energy efficiency and sustainable manufacturing practices.
In response, manufacturers are building better reciprocating compressors that have features such as variable speed drives and improved control systems to mitigate the issue of energy waste. The evolving energy landscape affects the reciprocating compressor market as well. There is a transition towards the development of compressors to accommodate alternative fuels and green energy applications, owing to concern for cleaner sources. T
his development is encouraging manufacturers to spend on R&D to develop reciprocating compressors that are in tandem with the objectives of sustainable energy. Factors which further shape the market dynamics are technological upgrades and digitalization.
The incorporation of smart technologies, IoT (Internet of Things), and predictive maintenance solutions in reciprocating compressors improves their performance, efficiency as well as reliability. This digitization in the sector does not only enhance efficiency but also increases market growth. Besides this, global economic situations and regulatory environments similarly have a significant impact on the reciprocating compressor market.
Commodity prices, trade policies and environmental regulations vary between investment options influencing the market trends. These external factors play an important role to the manufacturers and end-users who observe their trends in order that they can develop strategies accordingly for remaining competitive in this dynamic market.
Reciprocating Compressor Market Highlights:
Global Reciprocating Compressor Market Overview:
Reciprocating Compressor Market Size was valued at USD 4.4 Billion in 2023. The Reciprocating Compressor market industry is projected to grow from USD 4.66 Billion in 2024 to USD 7.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.22% during the forecast period (2024 - 2032). Increased demand from various end-use industries and rising adoption of cost-efficient reciprocating compressors are the key market drivers enhancing the growth of market.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Reciprocating Compressor Market Trends
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Growing demand for cost-effective reciprocating compressors in various end-use industries is driving market growth
Market CAGR for the reciprocating compressor market is being driven by the growing demand from various end-use industries. The rising demand for reciprocating compressors from CNG and LNG transport and storage plants and refinery, and the pharmaceutical industry. The increasing adoption of eco-friendly, easy handling, variable-speed systems, efficient operation, and reconstructing for recent systems are significant requirements in the industries. The reciprocating compressor is an excellent performer in both high pressure and power.
The reciprocating compressors market players are expected to emphasize enhancing the machine's durability, narrowing the gas flow, helping in rotation, and properly controlling heat at the moment. Several manufacturers of reciprocating compressors are focusing on increasing overall monitoring pressure pulsation and thermodynamic efficiency. Therefore, pipe vibration is a major factor to consider. In the pharmaceutical industries, it is used in medical gases like hydrogen, oxygen, and helium compression. However, vibration monitoring is essential to handle unresolved and undiagnosed defects that may cause significant damage to reciprocating compressors. With technological advancement, industrialization, investments, and requirement for replacement, reciprocating compressors are anticipated to boost the reciprocating market.
The principle of the reciprocating compressor function is to compress air used in chemical and petroleum industries. The worldwide compressor business is boosted by the refineries, as well as CNG and LNG transport and storage facilities. The car industry, like other industrial sectors, is going to experience an increased demand for reciprocating compressors. The reciprocating compressors, with their wide range of applications in various industries, are anticipated to grow the market. The market of reciprocating compressors has inclined its focus on rotation assistance, gas flow narrowing, and machine longevity. Thus, driving the Reciprocating Compressor market revenue.
The compressor's market, on the other hand, is being restrained by the false imitations of compressor designs, and the compressor's profitability in the broader market is also being halted by fierce price rivalry. The reciprocating compressor has a lower capacity density which is the reason for its low speed. The longevity of some of its parts is constrained, like disc and reed valves and piston rings.
Reciprocating Compressor Market Segment Insights:
Reciprocating Compressor Type Insights
The Reciprocating Compressor market segmentation, based on type, includes Portable and Stationary. The stationary segment dominated the market, accounting for the largest market revenue. Stationary reciprocating air compressors are utilized in air conditioners, refrigerators, automotive, and automotive, and are also used in industries in manufacturing facilities, workshops, warehouses, etc. The rising demand for air conditioners and refrigerators owing to the growing middle class and rising per capita income is likely to fuel the industry's growth.
Reciprocating Compressor Lubrication Insights
The Reciprocating Compressor market segmentation, based on lubrication, includes Oil-Free and Oil Filled. The oil-free category dominates the market due to the rapidly growing healthcare sector that requires clean and uncontaminated air requirements. The air released from the compressors should not consist of any contaminants or foreign particles that are critical for various operations in healthcare-related sectors. The Oil-free types offer various industries to perform more cost-efficient activities, and these compressors are also used in home appliance, electronic, and food & beverage industries.
Figure 1: Reciprocating Compressor Market, by Lubrication, 2024 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Reciprocating Compressor Regional Insights
By region, the study gives market insights into North America, Asia-Pacific, Europe, and the Rest of the World. The Asia Pacific Reciprocating Compressor market dominates this market, owing to an increase in industrial, electronics, and manufacturing activities in the region. China is the largest contributor to the market share for the reciprocating compressors market in the region.
Further, the main countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, South Korea, Japan, India, Australia, and Brazil.
Figure 2: Reciprocating Compressor Market Share By Region 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Europe's Reciprocating Compressor market accounts for the second-largest market share due to rapid industrialization and government initiatives to boost industrial production. Further, the German Reciprocating Compressor market held the largest market share, and the UK Reciprocating Compressor market was the rapid-growing market in the European region.
The North American Reciprocating Compressor Market is expected to grow at the rapid CAGR from 2023 to 2032. This is due to the growing oil & gas industry and advancement in technology that provides high-quality compressors. Moreover, the US Reciprocating Compressor market held the largest market share, and the Canadian Reciprocating Compressor market was the rapid-growing market in the North American region.
Reciprocating Compressor Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to spread their product lines, which will help the Reciprocating Compressor market grow even more. Market participants are also undertaking a various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Reciprocating Compressor industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Reciprocating Compressor industry to benefit clients and increase the market sector. In recent years, the Reciprocating Compressor industry has offered some of the most significant advantages to medicine. Major players in the Reciprocating Compressor market, including Garden Denver, Lontra, Blade Compressors LLC, MARELLI, Shanghai Highly Co., Ltd., Burckhardt Compression AG, Atlas Copco, Sundyne, Hitachi, Howden Group, Siemens AG, and others, are attempting to increase market demand by investing in research and development operations.
Atlas Copco is a Swedish multinational industrial company established in 1873, is headquartered in Stockholm, Sweden, having customers in more than 180 countries. In 2022, Atlas Copco made revenue of approx. BSEK141 (13 BEUR). The company deals with four main business areas: Compressor technology, Vacuum Technology, Industrial Technology, and Power Technology. In February 2023, Atlas Copco launched a new and improved GA 55-90 for users who favor less complicated options. The most advanced mid-size industrial compressors, the GA+ and GA, both provide more air at lower energy consumption as compared to their predecessors. Customers can take advantage of various remote monitoring and system-improving features with the advanced Elektronikon Nano Touch controller that comes standard with SmartLink support.
Burckhardt Compression AG is a leading Swiss company specializing in reciprocating compressors for a sustainable energy future and long-term success for their customers, established in 1844. Customizes and modularizes compressor systems utilized in chemical, gas transport & storage, hydrogen mobility & energy, and the industrial gas sector. In November 2021, the company launched an oil-free hydrogen compressor solution for 550 bar discharge pressure and high mass flows. The large blower arrangements for high-pressure cylinders are mainly designed for fuel stations and hydrogen trailer filling stations with large mass streams. These are designed to operate mass flows of more than 150kg/h, thus minimizing the number of compressors required at every hydrogen trailer filling or fueling station.
Key Companies in the Reciprocating Compressor market include
- Gardener Denver
- Lontra
- Blade Compressors LLC
- MARELLI
- Shanghai Highly Co., Ltd.
- Burckhardt Compression AG
- Atlas Copco
- Sundyne
- Hitachi
- Howden Group
- Siemens AG
Reciprocating Compressor Industry Developments
March 2022: Garden Denver launched its new piston compressor offering. The GD70 oil-greased up cylinder blower is anticipated to be used in strain off-stacking mass fluids traveling from solvents to pitches. Its in-line design is a two-cylinder, single-stage compressor with a small surface area, which makes room for additional on-loading and off-loading equipment.
October 2020: Lontra declared that Blade Compressors LLC, a division of Industrial Air Centers headquartered in Jeffersonville, Indiana (USA), had signed an agreement to serve as the National Distributor for Lontra Blade Compressors and future Lontra products and services in North America.
August 2019: MARELLI, a leading automotive supplier, announced that it had formed a partnership with Shanghai Highly Co., Ltd, in China. MARELLI and Johnson Controls-Hitachi Air Conditioning have agreed to an Equity Transfer agreement as a part of the partnership.
Reciprocating Compressor Market Segmentation
Reciprocating Compressor Type Outlook
- Portable
- Stationary
Reciprocating Compressor Lubrication Outlook
- Oil-Free
- Oil Filled
Reciprocating Compressor Stage Type Outlook
- single stage
- multi stage
Reciprocating Compressor Type Outlook
- single acting
- double acting
- diaphragm
Reciprocating Compressor End User Outlook
- oil & gas
- pharmaceutical
- chemical plants
- refrigeration plants
- manufacturing
- automotive
- others
Reciprocating Compressor Regional Outlook
-
North America- US
- Canada
-
Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World- Middle East
- Africa
- Latin America
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