Compressor Market 2021-2027| Development Analysis & COVID-19 Impact – Atlas Copco AB, Gardner

The global compressor market is expected to witness a CAGR of 4.6% during the forecast period. The mounting demand for natural gas resulting in a rising gas pipeline network is one of the key drivers in the global compressor market. Moreover, the mounting replacement of piston compressors with screw compressors, rising automotive sector, an increasing number of food processing units will fuel the growth of the compressor market.

The COVID-19 pandemic has had an adverse impact on the compressor market owing to disruption of the global supply chain as companies in China that leads in the compressor market had to close manufacturing units during the COVID-19 outbreak.

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Based on the compressor type, the compressor market is bifurcated into positive displacement and dynamic compressors. Positive displacement dominates the market in 2020 owing to the advantages offered such as high efficiency, low operating cost, the high-pressure ratio for small size, and being suitable for wide applications. Moreover, positive displacement compressors have a constant air and gas flow irrespective of outlet pressure.

Geographically, Asia-Pacific Is anticipated to be the fastest-growing region in the global compressor market owing to its high dependency on oil and coal for energy needs. Moreover, the rising government support, mounting infrastructure development, and industrial development will have a positive impact on the compressor market in the region.