Reciprocating Compressor Market Size is Expected to
Wilmington, Delaware, United States, May 16, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The globe market for reciprocating compressors The size was US$5.3 billion in 2022 and is expected to reach US$8.1 billion by 2031 CAGR of 4.9% between 2023 and 2031.
The growth of the oil and natural gas industry is expected to boost global market demand for reciprocating compressors. It is expected that the use of reciprocating compressors will increase in the healthcare and pharmaceutical sectors. Advances in medical technology in these sectors are likely to drive market development.
Significant investments in research and development, innovative developments and access to the latest technologies drive the global market forward. Increasing attention to truss vibration reduction and early detection of failures and damage offers lucrative growth prospects for market participants. Reciprocating compressor manufacturers develop advanced compressors to meet the needs of industries such as electronics and semiconductors.
The advantages of piston compressors include adaptability, high efficiency, increased pressure generation and effective use in intermittent cycles. The main area of application for piston compressors is in the cooling circuit. They are also widely used in natural gas pipelines, chemical plants, oil refineries and various other industries.
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Key Findings of the Market Report
- The global reciprocating compressor market is expected to grow due to the expansion in the oil and gas sector. The most reliable sources of energy on earth are still oil and gas. Piston compressors are regularly used in natural gas compressors because they can handle all volume capacities and pressures. Depending on the type of compressor used, natural gas can be pressurized and maintained at the correct level of pressure in a reservoir. According to several countries, natural gas contained in petroleum needs to be compressed by 95%. With this in mind, processing a significant amount of petroleum before pipeline transit is required to increase gas pressure.
Global market for reciprocating compressors: growth accelerator
- The global reciprocating compressor market is expected to be driven by advances in medical technology that are significantly redefining the healthcare sector. Reciprocating compressors are required for the efficient operation of several medical devices. Compressors are often used in medical facilities because they are 100% reliable even after full duty cycle. Reciprocating compressors are used in most medical facilities to generate clean air. In addition, the pressure must be exactly right for the air to be effective. Modern piston compressor models use piston cooling systems that efficiently reduce heat build-up. Many medical devices rely on piston compressors to function optimally.
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