Compressor Market – Introduction
Compressor is a mechanical equipment used to increase the pressure of the gas and reduce its volume. It is used to supply air or gas at higher pressure. Compressors consist of a power source and compressing mechanism. Speed of rotation, pressure at discharge, pressure at suction, and type of refrigerant being used contributes to the performance of a compressor. Compressors can be operated at different capacities by varying refrigerant and power input. Compressors are segmented into two types: dynamic compressor and positive displacement compressor. Positive displacement compressor uses the mechanical linkage to compress the air and reduce its volume. Dynamic compressor works on inertia and momentum of fluid. Positive displacement compressor is further segmented into rotary and reciprocating compressor while dynamic compressor is classified as centrifugal and axial compressor. Compressors are used in many industries such as automobile, electronics, steel, chemical, food processing industry, and construction.
Compressor Market – Competitive Landscape
Atlas Copco was founded in 1873 and is based in Sweden. The company has a global presence and its products are sold in more than 180 countries. Atlas Copco provides compressors, vacuum solutions, generators, pumps, power tools, and assembly systems. The company supplies products to automotive, textile, chemical, cement, food & beverages, and pharmaceutical industries. Atlas Copco’s compressors were used in the 2019 FIS Alpine World Ski Championships.
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Siemens is a German multinational company with its headquarters in Munich. It was founded in 1847 by Verner von Siemens. Siemens has grown tremendously through mergers and acquisitions. The company is now focusing on digitalization. It acquired UGS Corp. in 2007. The company has its network spread over more than 200 countries.
Wuxi Compressor Co Ltd
Wuxi compressor Co Ltd was founded in December 1955. The company is located in Wuxi City, China. The company holds 20 patents for invention and 16 patents for utility models. The products of the company are divided in four major categories which are Process Compressors, Centrifugal Compressors, General Compressors, and Airfield Ground Support Equipment.
Compressor Market – Dynamics
Compressors are used to meet the requirement of high pressure gas. It essentially converts low pressure gas to high pressure gas. Power generation and manufacturing industries are the biggest consumers of natural gas. Increasing demand for electricity in developing countries is expected to drive the market for natural gas which in turn is anticipated to increase the demand for compressors in the coming years. The growth of the manufacturing sector in different countries may help the compressor market to grow in the near future. Big players are making compressors more efficient and eco-friendly with the help of growing technology, which would make conventional compressors viable and increase the demand for compressors. Compressed air is used in equipment such as nut runners. Compressor is an essential equipment in Heating Ventilation and Air Conditioning Equipment (HVAC). HVAC is likely to grow during the forecast period due to increase in construction activities, smart home market, and energy efficient systems. Compressors require huge capital cost. Along with it comes installation, maintenance, and electricity cost, handling air leaks, and large repairs which may impact the compressor market and act as a restraint.