Market Size of South America Compressor Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 2.90 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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South America Compressor Market Analysis
The South American compressor market is anticipated to register a CAGR of approximately 2.9% 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.
- Factor such as increasing demand for compressors from fertilizers and petrochemical plants to process and pressurize multiple gases is likely going to drive the SAmericanerica compressor market.
- However, increasing the installation of renewable energy sources to provide power that does not use compressors is expected to restrain the South American compressor market.
- New technologies in compressors have more efficiency than the present ones and are expected to create several opportunities for the South American compressor market in the future.
- Due to its highest gas production in the region, Argentina is expected to be the fastest-growing country in the SAmericanerica compressor market.