Axial Compressors Market Report Overview:
The global axial compressor market size was USD 450.2 million in 2020 and will reach USD 584.2 million by 2027, at a consistent CAGR of 3.8% during the forecast period.
An axial compressor is a type of compressor used in aircraft engines, power plants and other industrial applications to compress air or gas that flows continuously along an axis.These compressors have a series of rotating blades called rotor blades and fixed blades called stator blades that work together to compress liquids.This design allows for high efficiency and compact size, making axial flow compressors ideal for applications that compress large quantities of air or gas.
"Shift towards energy efficient and eco-friendly compressors due to increasing stringent regulations and customer sustainability needs will drive market growth"
Emerging trends for the growth of the global axial compressor market include the shift towards energy-efficient and eco-friendly compressors due to increasingly stringent regulations and customer sustainability needs.Another trend is the introduction of digitalisation and automation in compressor systems, which allows for better monitoring, maintenance, and optimisation of performance.In addition, there is a growing demand for compressors with better durability and reliability as well as compact and lightweight designs that are easy to install and transport.Customising compressors and integrating them with other equipment to meet specific application requirements is also gaining popularity in the market.Overall, these trends are aimed at improving efficiency, reducing operating costs and meeting the changing needs of various industries.
- By Type
On the basis of type, the global market is categorised into inlet inflow: less than 300K CMH, inlet inflow: 300-800K CMH, and inlet inflow: greater than 800K CMH.
The first type includes compressors with an inflow of less than 300K CMH (cubic metres per hour).
The second type includes compressors with an inlet current of more than 800K CMH.These different market types correspond to different industrial needs and the need for equivalent compression of gases or liquids.
- By Application
On the basis of application industry, the global market is segmented into metallurgical industry, petrochemical industry, and others.
Axial compressors are widely used in metallurgical industry for various applications such as blast furnace air feed, gasification, and cooling systems.
In the petrochemical industry, these compressors are used in processes such as gas handling, hydrocracking, and cooling.
Additionally, axial flow compressors are used in many other markets such as refineries, power plants, chemical plants, and aerospace industries, where they are used to compress gases and regulate airflow to increase productivity.
Driving factors
"Rapid industrialisation in developing economies is driving market growth"
Saturday is a compressor is a gas compressor that continuously pressurises gases.In which the gas or working fluid moves axially mainly parallel to or along the axis of rotation.The main components of an axial compressor are rotor blades or fixed blades, stator blades carrying moving blades and stator blades carrying multiple rows of fixed blades.As the fluid flows through the compressor under the influence of the rotor vanes, the energy level of the fluid increases and the rotor vanes apply torque to the fluid.The fixed vanes slow the fluid flow and convert the fluid into pressure on the peripheral components.Compressors are usually powered by gas turbines, electric motors or steam.Axial compressors are used in a variety of industries, including metals and mining, construction, oil and gas, pharmaceuticals, building, automotive and transport, packaging, power generation and healthcare.In addition, 70 per cent of manufacturers use compressed air systems.The market for industrial axial compressors has a huge growth potential due to the rapid growth in industrialisation and manufacturing activities as a result of increasing investments and capacity additions.Accelerated industrial and economic development in some emerging economies such as Asia and Africa.The demand for industrial compressors is also driven by government support for the evolution of industrial automation and the focus on industrial automation to ensure optimum utilisation of resources.These programmes can be used to operate conveyors, pneumatic tools, packaging, automation equipment, etc.
"Demand from water and wastewater treatment industry to drive market growth"
Establishing refineries under the pressure of stringent regulatory requirements requires industry knowledge and experience.However, global refining capacity is growing and is likely to continue to grow in the future.With the International Energy Agency becoming, by 2022, refining capacity is expected to increase by 1.2 million barrels.Moreover, favourable government policies and increase in FDI in several industries such as petrochemicals, natural gas, and refineries are expected to benefit global compressor manufacturers.Thus, this market is expected to grow significantly in the near future.The global axial compressor market is expected to grow due to increasing demand from water and wastewater treatment industry.In the water treatment industry, axial flow impellers are used to guide or pump water through various stages of treatment.These compressors are used to recover liquid from water boilers.In this segment, axial flow impellers are used to drive large volumes of fluid flow in processing plants.The increasing use of these compressors in end-use segments such as power generation, chemical industry, and oil & gas industry is expected to improve the market outlook over the forecast period.
