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Energy Efficiency is the Mainstay of the Industry, Driving Growth Complemented with Gradual Revival of the Oil and Gas and Chemicals Industries
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This study identifies, analyzes, and evaluates the existing and upcoming trends having an impact on the global compressors market. Amid uncertain economic conditions and revival of investments in key end-user industries such as oil and gas and chemicals, it seeks to provide insights into the growth prospects for compressor manufacturers for the year 2019. It discusses the product, market, technology, and regional trends impacting the industry’s growth rate and also analyzes the key trends in various end-user markets. The regions covered include North America, Latin America, Europe, Middle East and Africa, and Asia-Pacific. The study sheds light on the competitive structure and includes a total market share analysis for 2018 by identifying the top participants in the process gas and industrial gas compressors market. Furthermore, it analyzes five major growth opportunities that are likely to influence compressor manufacturers’ market position in the coming years. For the study, a specific methodology comprised of discussions with the senior management of compressor manufacturers, supported by secondary research, has been followed.Some of the key trends analyzed in the study are Industrial Internet of Things (IIoT) and digital transformation, energy efficiency, impact of oil prices, and trade war. IIoT is a major trend affecting compressor manufacturers, as end users continue to emphasize on improving their plant maintenance and curb operational expenditure (OPEX). Realizing that the future of manufacturing is likely to be driven by IIoT, companies today have concerns with regard to data ownership, security, integration with existing infrastructure, and return on investment (ROI) achieved from these solutions.
Key Issues Addressed
Author: Kiravani Emani
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