Market Size of Compressor Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.47 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Compressor Market Analysis
The Compressor Market size is estimated at USD 42.04 billion in 2023 and is expected to reach USD 52.31 billion by 2028, registering a CAGR of 4.47% during the forecast period (2023-2028).
- 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 during the forecast period.
- 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.
