Compressor Market Size

Report on Industry Size & Market Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Compressors Market Report is Segmented by End User (Oil and Gas Industry, Power Sector, Manufacturing Sector, Chemicals and Petrochemical Industry, and Other End Users), Type (Positive Displacement and Dynamic), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers the Market Size and Forecasts in Revenue (USD) for all the Above Segments.

Compressor Market Size

Single User License


Team License


Corporate License


Book before:
Compressor Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 42.04 Billion
Market Size (2029) USD 53.16 Billion
CAGR (2024 - 2029) 4.81 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Compressor Market Major Players

*Disclaimer: Major Players sorted in no particular order


Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License


Team License


Corporate License


Book before:

Compressor Market Analysis

The Compressor Market size is estimated at USD 42.04 billion in 2024, and is expected to reach USD 53.16 billion by 2029, growing at a CAGR of 4.81% during the forecast period (2024-2029).

  • Over the medium term, factors such as growing demand for natural gas, which, in turn, is leading to a growing gas pipeline network, are expected to be one of the most significant drivers for the compressor market.
  • On the other hand, increasing solar and wind power installation is expected to decrease the countries' dependency on fossil fuel-fired power generation, such as coal and natural gas. This poses a threat to the compressor market during the forecast period.
  • Nevertheless, several compressor manufacturers are making strides to develop more energy-efficient products amid rising end-user demands and changing energy efficiency standards. This factor is expected to create several opportunities for the market in the future.
  • The Asia-Pacific region dominates the market and will likely register the highest CAGR during the forecast period. China and India drive it due to these countries' growing natural gas infrastructure.

Compressor Market Trends

Oil and Gas Segment Expected to Dominate the Market

  • Positive displacement and dynamic compressors are widely used in the oil and gas industry, encompassing upstream, midstream, and downstream sectors. Compressors are used for various purposes in the oil and gas sector, including gas transportation, compression for gas injection, gas collection, and gas lift.
  • As reservoir pressure tends to drop with time, dynamic compressors are utilized in later stages of gas field development to sustain or boost gas flow into pipeline networks. Gas reinjection is employed in enhanced oil recovery (EOR) to offset the oil fields' natural reduction in production.
  • Most nations plan to reduce carbon emissions by switching from coal-based to gas-based electricity generation in response to the growing environmental consciousness during the past ten years. The demand for compressors from the oil and gas industry is anticipated to be supported by the potential for natural gas output and consumption for power generation to keep growing. The Energy Institute (EI) estimates that the world produced 4043.8 billion cubic meters of natural gas in 2022, an increase of 15.3% compared to 2015.
  • India is expanding its gas pipeline infrastructure to accommodate rising demand. The Indian government announced a pipeline project across several states. For instance, in January 2024, the government launched a gas pipeline project of INR 9,000 crore (USD 1.1 billion) that includes Indian Oil Corporation Ltd's (IOCL) 488-km-long natural gas pipeline and Hindustan Petroleum Corporation Ltd's (HPCL) 697-km-long Petroleum Pipeline (VDPL).
  • Similarly, China's government has set a target of net-zero emissions by 2060. Under the country's energy transition strategy, natural gas is intended to play a critical part in lowering CO2 emissions, and it is projected to be the country's major energy source within the next decade.
  • Furthermore, the United States Energy Information Administration (EIA) predicts that due to anticipated rises in international demand for natural gas, the US LNG exports are expected to more than double between 2020 and 2029, which is likely to have a positive impact on the compressor market.
  • As a result of the factors mentioned above, the oil and gas segment is likely to dominate the compressor market over the forecast period.
Compressor Market: Natural Gas Production, in Billion Cubic Meters (BCM), Global, 2015-2022

Asia-Pacific to Dominate the Market

  • Some of the world's top importers and consumers of natural gas are located in the Asia-Pacific region. For energy needs, this region still primarily relies on coal and oil. However, due to increasing concerns about air pollution, there has been a recent trend toward using natural gas more frequently.
  • The most significant users of natural gas in the region are the manufacturing and power generation sectors. It is anticipated that rising energy consumption in nations like China and India will propel the market for natural gas.
  • Residential gas consumption is predicted to rise due to urbanization and the expansion of the middle class in Asia-Pacific nations. The need for gas compressors is anticipated to increase in the electricity and manufacturing sectors, as well as in the midstream gas industry, due to the rising gas consumption.
  • Furthermore, the refinery sector of Asia-Pacific has risen significantly over the last ten years, and compressors like centrifugal compressors are vitally used during the refinery process. According to Statistical Review of World Energy Data, in 2022, the refinery capacity of the Asia-Pacific region was 36,189 thousand barrels daily, increased by 8.9% compared to 2013. The number is expected to rise significantly over the forecast period as serval projects are going to start in the upcoming years.
  • China intends to increase the proportion of clean fuel in its energy mix by strengthening its network of natural gas and oil pipelines over the next ten years. The nation's network of gas and oil pipelines is anticipated to grow to 240,000 km by 2025, according to the National Development and Reform Commission. The natural gas pipes are anticipated to cover 123,000 km of the 240,000 km. Since compressors are among the most frequently utilized pieces of machinery that power long-distance natural gas pipelines, the demand for compressors is anticipated to rise throughout the projected period as the pipeline network expands
  • Similarly, India is investing significantly in the petrochemical sector, which is anticipated to create a rising demand for compressors. For instance, in December 2023, the government of India signed 11 MoUs worth INR 67,000 crore (USD 8.3 billion) at a pre-Vibrant Gujarat Global Summit event in the state of Gujarat for the Chemical and Petrochemicals Industry. Investments in the petrochemical sector is anticipated to rise exponentially over the region during the forecast period and significantly raise the demand for compressors across the industry.
  • Due to these factors, Asia-Pacific is expected to dominate the compressor market during the forecast period.
Compressor Market: Growth Rate by Region, 2024-2029

Compressor Industry Overview

The compressor market is fragmented. Some key players in this market (in no particular order) include Atlas Copco AB, Baker Hughes Co., Ingersoll-Rand Inc., Siemens Energy AG, and Sulzer Ltd, among others.

Compressor Market Leaders

  1. Atlas Copco AB

  2. Siemens Energy AG

  3. Ingersoll-Rand Inc

  4. Baker Hughes Co.

  5. Sulzer ltd

*Disclaimer: Major Players sorted in no particular order

Compressor Market Concentration
Need More Details on Market Players and Competitors?
Download Sample

Compressor Market News

  • April 2024: The Srikail gas field in Cumilla signed a contract to receive three wellhead compressors with a capacity of 10 million cubic feet per day, along with related infrastructure, owing to a deal inked by Bangladesh Petroleum Exploration and Production Company Ltd and SC Euro Gas Systems SRL, Romania.
  • March 2023: Sapphire Gas Solutions and Bauer Compressors Inc. announced a national partnership between the two companies. This partnership allows Sapphire to install, construct, and maintain a group of state-of-the-art Bauer-manufactured gas compressors and offer OEM parts servicing multiple vital industries covering the United States, Canada, and Mexico.

Compressor Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2029

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Market Drivers

        1. The Growing Demand for Natural Gas

        2. Rising Pipeline Infrastructure across Globe

      2. 4.5.2 Market Restraints

        1. Increasing Adoption of Solar and Wind Energies

    6. 4.6 Supply Chain Analysis

    7. 4.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry


    1. 5.1 By End-User

      1. 5.1.1 Oil and Gas Industry

      2. 5.1.2 Power Sector

      3. 5.1.3 Manufacturing Sector

      4. 5.1.4 Chemicals and Petrochemical Industry

      5. 5.1.5 Other End-Users

    2. 5.2 By Type

      1. 5.2.1 Positive Displacement

      2. 5.2.2 Dynamic

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Rest of North America

      2. 5.3.2 Europe

        1. Germany

        2. France

        3. United Kingdom

        4. Spain

        5. Norway

        6. Turkey

        7. Russia

        8. NORDIC

        9. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. India

        3. Malaysia

        4. Thailand

        5. Australia

        6. Indonesia

        7. Vietnam 

        8. Rest of Asia Pacific

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Colombia

        4. Rest of South America

      5. 5.3.5 Middle East and Africa

        1. Saudi Arabia

        2. United Arab Emirates

        3. South Africa

        4. Nigeria

        5. Qatar 

        6. Egypt 

        7. Rest of Middle East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Aerzener Maschinenfabrik GmbH

      2. 6.3.2 Ariel Corporation

      3. 6.3.3 Atlas Copco AB

      4. 6.3.4 Baker Hughes Co.

      5. 6.3.5 Bauer Compressors Inc.

      6. 6.3.6 Burckhardt Compression Holding AG

      7. 6.3.7 Ebara Corporation

      8. 6.3.8 Ingersoll Rand Inc

      9. 6.3.9 Siemens Energy AG

      10. 6.3.10 Sulzer Ltd

    4. *List Not Exhaustive
    5. 6.4 Market Ranking/ Share Analysis


    1. 7.1 Several Compressor Manufacturers are Making Strides to Develop More Energy-Efficient Products

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Compressor Industry Segmentation

In a compressor, the volume of a substance (usually a gas) is reduced to increase the pressure. Compressors are used in many applications that involve increasing the pressure within the gas storage container, such as in petroleum refineries and chemical plants where gases are compressed.

The compressor market is segmented by type, end-user, and geography. By type, the market is segmented into positive displacement and dynamic. By end-user, the market is segmented into the oil and gas industry, power sector, manufacturing sector, chemicals and petrochemical industry, and other end users. The report also covers the size and forecasts for the compressor market across major regions. The market sizing and forecasts are provided for each segment based on revenue (USD).

By End-User
Oil and Gas Industry
Power Sector
Manufacturing Sector
Chemicals and Petrochemical Industry
Other End-Users
By Type
Positive Displacement
By Geography
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia Pacific
South America
Rest of South America
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East and Africa
Need A Different Region Or Segment?
Customize Now

Compressor Market Research FAQs

The Compressor Market size is expected to reach USD 42.04 billion in 2024 and grow at a CAGR of 4.81% to reach USD 53.16 billion by 2029.

In 2024, the Compressor Market size is expected to reach USD 42.04 billion.

Atlas Copco AB, Siemens Energy AG, Ingersoll-Rand Inc, Baker Hughes Co. and Sulzer ltd are the major companies operating in the Compressor Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Compressor Market.

In 2023, the Compressor Market size was estimated at USD 40.02 billion. The report covers the Compressor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Compressor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The main segments of the Compressor Market are a) Type: Positive Displacement, Dynamic b) End-User: Oil and Gas Industry, Power Sector, Manufacturing Sector, Chemicals and Petrochemical Industry

The key driving factors for the Compressor Market are a) Growing demand from the natural gas sector, refinery, and petrochemical sector b) Expansion of the gas infrastructure to meet the rising demand for gas

Compressor Industry Report

The global compressor industry is experiencing significant growth, driven by diverse applications across sectors like oil and gas, power generation, manufacturing, and chemicals. The market, segmented by type into positive displacement and dynamic compressors, sees positive displacement leading due to its efficiency in constant flow applications. Geographically, the Asia-Pacific region dominates, fueled by investments in natural gas infrastructure and manufacturing, especially in China and India. However, the rising adoption of renewable energy sources such as solar and wind presents challenges, potentially reducing demand for traditional sector compressors. Despite this, the refinery and petrochemical sector offers substantial opportunities with ongoing investments expected to propel compressor demand. The industry is set for steady growth, adapting to evolving energy needs and environmental standards. For detailed statistics, market share, size, and revenue growth insights, consider accessing a comprehensive industry analysis from Mordor Intelligence™, which includes forecasts and a historical overview available as a free report PDF download.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Compressor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)