Market Size of Tandem Piston Compressors Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Tandem Piston Compressors Market Analysis
The Tandem Piston Compressors Market is expected to register a CAGR of 3% approximately over the forecast period on account of the expansion of industrial infrastructure.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Due to its high efficiency, it is used in various applications, including refrigeration, air cooling, and air separation, among others. Tandem piston compressors are also used in chemical and petrochemical facilities. These industries are witnessing significant growth worldwide, thus, boosting the market studied. Additionally, the growth of the natural gas industry is expected to drive the market studied over the forecast period, as the production of natural gas has increased due to a surge in the production from shale reserves.
- However, these compressors' requirement for more space is considered a restraint to the market's growth.
- Nevertheless, tandem piston compressors are widely used in natural gas processing and transportation. Hence, an increase in the demand for natural gas for power generation is likely to dominate the market during the forecast period.
- Moreover, developing industrial infrastructure in countries like the United States, Canada, Mexico, etc., is likely to offer huge business opportunities for the tandem piston compressors market. Furthermore, North America is expected to be a significant player in the market during the forecast period.
