Market Size of North America Compressor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.80 % |
| Market Concentration | Low |
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?
North America Compressor Market Analysis
The North American compressor market is anticipated to register a CAGR of approximately 3.8% during the forecast period.
The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and a slowdown in end-user industries. Currently, the market has reached pre-pandemic levels.
- Factors such as increasing demand for compressors from the refineries and petrochemical plants that use compressors to deal with various operations related to gases will likely drive the North American compressor market.
- However, increasing the installation of renewable energy sources to provide power that does not use compressors is expected to restrain the North American compressor market.
- Massive amounts of proven shale reserves in countries such as Canada and Mexico, when extracted, are expected to use compressors for gas transportation and will likely create several opportunities for the North American compressor market in the future.
- The United States, due to its highest oil and gas refining capacity in the region, is expected to dominate the North America compressor market.
