Global Tandem Piston Compressors Market Size to Exceed USD 8.80 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Tandem Piston Compressors Market Size Expected to Grow from USD 5.60 Billion in 2023 to USD 8.80 Billion by 2033, at a CAGR of 4.62% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Tandem Piston Compressors Market Size, Share, and COVID-19 Impact Analysis, By Type (Stationary and Portable), By Application (Oil Refineries, Natural Gas Processing and Distribution, Chemicals and Petrochemicals, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
The tandem piston compressors Market is the global market dealing with the manufacture, distribution, and development of tandem piston compressors, which compress gases effectively using multiple pistons in a series. Tandem piston compressors find extensive applications in industrial, automotive, oil & gas, HVAC, and manufacturing sectors because these are highly efficient, long-lasting, and capable of meeting high-pressure demands. Moreover, the tandem piston compressors market is fueled by growing demand in industrial manufacturing, HVAC applications, oil & gas, and automotive industries. Expansion in energy-efficient technologies, growing industrial automation, and infrastructure development further drive market growth. Moreover, technological advancements in compressors, strict energy regulations, and the requirement for high-performance, long-lasting compressors in heavy-duty applications drive the growing use of tandem piston compressors worldwide. However, the tandem piston compressors market is confronted with challenges such as high initial investment, periodic maintenance, noise and vibration, power consumption, and competition from other compressor technologies including rotary and scroll compressors.
The stationary segment accounted for the largest share of the global tandem piston compressors market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of type, the global tandem piston compressors market is divided into stationary and portable. Among these, the stationary segment accounted for the largest share of the global tandem piston Compressors market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is due to its widespread application in industrial production, oil & gas, and HVAC uses. These compressors are highly efficient, long-lasting, and capable of continuous, high-pressure operation, so these are the favourites among industrial applications in large numbers.
The oil refineries segment accounted for a substantial share of the global tandem piston compressors market in 2023 and is anticipated to grow at a rapid pace during the projected period.
On the basis of the application, the global tandem piston compressors market is divided into oil refineries, natural gas processing and distribution, chemicals and petrochemicals, and others. Among these, the oil refineries segment accounted for a substantial share of the global tandem piston Compressors market in 2023 and is anticipated to grow at a rapid pace during the projected period. This is due to the extensive use of compressed air and gas in refining operations. These compressors are required for hydrocarbon processing, catalytic cracking, and vapour recovery, and therefore are a vital part of refinery operations for efficiency and reliability.
Asia Pacific is projected to hold the largest share of the global tandem piston compressors market over the projected period.
Asia Pacific is projected to hold the largest share of the global tandem piston compressors market over the projected period. This is driven by accelerated industrialization, increasing oil & gas operations, and mounting demand in petrochemical, chemical, and manufacturing industries. China, India, and Japan are the top countries in terms of compressor uptake owing to mounting energy requirements, infrastructure growth, and increasing investment in processing and industrial automation sectors.
North America is expected to grow at the fastest CAGR of the global tandem piston compressors market during the projected period. This is motivated by growing demand in oil & gas, chemical processing, and industrial production. The U.S. and Canada are at the forefront of technology innovations, energy-efficient technologies, and infrastructure growth, fueling the uptake of tandem piston compressors in diverse high-performance applications.
Company Profiling
Major vendors in the global tandem piston compressors market are ABAC Air Compressors, BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Bitzer SE, Officine Mario Dorin SpA, Bristol Compressors International Inc., Speroni SpA, NuAir Compressors (FNA SpA), RefPower SRL, Danfoss AS, FIMA SRL, Nardi Compressori SRL, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In May 2022, LGi Compressors Europe, a company of ELGi Equipments Limited, declared the imminent launch of the 'LD Series' range of lubricated direct drive reciprocating air compressors in Europe. Advanced piston air compressor technology caters to the requirements of all industries looking for compact air compressors with excellent performance, low noise, and easy maintenance. The ELGi LD Series with 2.2 to 11kW capacities is a revolutionary piston air compressor technology.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global tandem piston compressors market based on the below-mentioned segments:
Global Tandem Piston Compressors Market, By Type
Global Tandem Piston Compressors Market, By Application
- Oil Refineries
- Natural Gas Processing and Distribution
- Chemicals and Petrochemicals
- Others
Global Tandem Piston Compressors Market, By Regional
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa