Turbocompressors are a type of machine that increases the capacity of fuel in addition with the increased energy of the engines. Turbocompressor are turbo machines that concentrate a compressible gas with the help of a dynamic principle. In turbocompressor, the gas continuously enters the rotating impeller, through which the mechanical shaft power is distributed to the fluid with the help of blades that results in a significant pressure and temperature increase. The remaining kinetic flow energy is then mostly converted into pressure in the diffusor. The compressed gas is then either collected in a volute or transferred to a second compressor stage with the help of a return channel. Turbocompressors are highly used in dirty and corrosive applications such as petrochemical plants, refineries, natural gas processing, coal gasification, and power stations due to their longer life, low maintenance, and continuous service.
The global turbocompressor market size was valued at $15.7 billion in 2020, and is expected to reach $29.3 billion by 2030, with a CAGR of 6.3% from 2021 to 2030.
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The driving factor for the turbocompressor market is the application of turbocompressor in the water & wastewater treatment. Turbocompressors are used to provide more efficiency and lower maintenance, which saves cost during wastewater treatment for removing pollutants.
In addition, the rise in regulations over the use of clean energy, such as the Clean Air Act, increases the use of liquified natural gas trade over different countries, including the U.S. and Australia. Turbocompressors are used for the liquified natural gas applications that maintain the pressure ratio, which creates more demand for the turbocompressor, further driving the turbocompressor market growth.
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Regional Overview:
Region wise, the global turbocompressor market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global turbocompressor market share, and LAMEA is anticipated to secure a leading position during the forecast period.
Top Players:
The major players profiled in the turbocompressor industry include Atlas Copco AB, Elliott Group, General Electric, Howden Group, Ingersoll Rand, Kawasaki Heavy Industries, Ltd., KOBE STEEL, LTD., MAN Energy Solutions, MITSUBISHI HEAVY INDUSTRIES, LTD. And Siemens.
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