The turbocompressor market is expected to grow at a CAGR of over 3% during 2021-2027. The growth of the gas pipeline network due to factors such as increasing demand for natural gas is expected to be one of the most important drivers of the compressor market during the forecast period. In addition, the growth of countries such as China and India in the steel and chemical industries has helped to grow the turbocompressor market in recent years. However, product saturation in Europe and the development of new technologies such as rotary screw compressors are the limiting factors during the forecast period.
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Turbocompressor Market Segments:
By Type
• Centrifugal compressors
• Axial compressors
By Stage
• Single stage
• Multi-stage
By End-user
• Oil & gas
• Power generation
• Chemical
• Water & wastewater
• Others
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