European process gas compressor market is projected to grow at a significant CAGR of around 3.5% during the forecast period (2020-2026). The market for process gas compressor is continuously rising in the European region, owing to the huge presence of end-use industry of process gas compressors, such as petrochemical and chemical industry. The chemical industry is considered as one of the valuable parts of the chemical industry. There are a large number of petrochemical and chemical manufacturers in the region that have a presence in the global chemical industry. The region exports chemical products to the developed economies of the globe, such as the US.
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According to the European Chemical Industry Council (CEFIC), around 27.2% of the chemical sales in Europe are majorly generated from the petrochemicals, followed by 25.4% sales from the petrochemicals. In 2018, petrochemicals were the largest exporting sector in the chemical industry, contributing to around 25.0% of the EU chemical exports. Moreover, the rise in the chemical demand across the end-use industries, with rise in the consumption of oil & gas is further expected to augment the demand for process gas compressor in the manufacturing sites, in order to ensure safety at the manufacturing plants.
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Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Type and By End-Use Industry
- Countries Covered- UK, Germany, France, Spain, Italy, and Rest of Europe
- Key Companies Profiled- Burckhardt Compression AG, General Electric Co., Siemens AG, Atlas Copco Group, and Ingersoll-Rand PLC.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
- Recovery Timeline
- Deviation from pre-COVID
- Most affected region/segment
- Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Process Gas Compressor Market – Segmentation
By Type
- Centrifugal Gas Compressors
- Reciprocating Gas Compressors
- Screw Gas Compressors
- Others (Standard Screw Air Compressor)
By End-Use Industry
- Oil & Gas
- Refinery Services
- Petrochemical and Chemical Industry
- Polyolefin Plants
- Others (Hydrotreatment)
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
