A Valuation of USD 4,697.5 million to be acquired by the Global Gas Jet Compressor Market by 2034 | Future Market Insights, Inc.

The global expansion of natural gas infrastructure is driving the demand for gas jet compressors, which are essential for compressing and transporting gas through distribution networks, storage facilities, and pipelines. These compressors ensure the safe long-distance transportation of natural gas, increasing their popularity in the industrial automation sector.

NEWARK, Del, June 27, 2024 (GLOBE NEWSWIRE) — The global gas jet compressor market reached US$ 2464.8 million in 2019. Worldwide demand for gas jet compressors saw moderate growth in 2023, suggesting an expansion of the market to US$ 3,024.9 million in 2024. Projections for the period between 2024 and 2034 indicate a 4.5% CAGR, resulting in a market size of US$ 4,697.5 million by the end of 2034.

The growing need for infrastructure connected to hydrogen is one development in the gas jet compressor market that draws companies. Gas jet compressors are crucial for the manufacturing, storing, and shipping of hydrogen, as they are now an effective option for decarbonizing industries. This motivates firms to make investments in this technology in order to take benefit of the developing market prospects and satisfy the increasing demand for applications connected to hydrogen.

Discovering innovative technology to meet changing industry standards and consumer needs is one of the challenges of the gas jet compressor market. Players can tackle this by cultivating a culture of innovation, investing in state-of-the-art technology, and working with industry partners and research institutes. Companies should also adjust to changing market regulations and conditions, focus on innovation, and remain flexible.

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Key Takeaways of the Market Study

• A valuation of US$ 2464.8 million was attained by the market in 2019.
• The industry garnered a 4.2% CAGR from 2019 to 2023.
• By compressor type, the single-stage kind gained prominence with a 58.90% market share in 2024.
• By industry, these compressors are being widely used in the oil and gas industry, with a 23.5% market share in 2024.
• In North America, Canada is set to expand at a 4% CAGR through 2034.
• The United Kingdom and South Korea are anticipated to acquire the same growth rate of 3.8% through 2034.

“These compressors offer increased efficiency, enabling the compression of gases with reduced energy usage, potentially saving money on operating expenses. Compact designs are common in gas jet compressors, which allow for easier integration into the existing infrastructure and save space,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Competitive Landscape

Players within the gas jet compressor market are giving various areas priority in order to advance. Increasing compression efficiency is one way to reduce energy consumption and operating costs. To ensure continuous performance, they are also concentrating on increasing durability and dependability.

There is a push to develop small, modular designs that maximize space and installation versatility. In order to ensure high operating efficiency, incorporating modern monitoring and control technologies for real-time optimization as well as predictive maintenance is crucial.

In order to solve industrial difficulties, startups are leading the way with innovative approaches. Their main goal is to create small, energy-efficient compressors with better performance and less of an impact on the environment.

To maximize compression processes, these companies are utilizing advanced materials—like carbon composites—and creative design strategies. They are also looking at new applications for gas jet compressors, such as hydrogen infrastructure as well as carbon capture systems, to capitalize on developing market possibilities and drive long-term growth in the sector.

Top 09 Key Players in the Gas Jet Compressor Market

• Spirax Sarco;
• Schutte & Koerting;
• GEA Group Aktiengesellschaft;
• Transvac Systems Limited;
• Körting Hannover GmbH;
• EST Venturi Systems;
• Forbes Marshall;
• Kadant Inc;
• Croll Reynolds

Product Portfolio

• Forbes Marshall develops distinctive and cutting-edge products for the process sector by fusing technology related to steam and control systems. Their innovation endeavor is distinguished by their ability to comprehend client needs, challenge the existing quo, and collaborate with partners beyond the boundaries of their company.
• With products like CMTD, which redefined the steam trap; Effimax, which digitalized boilers in the early 2000s; BioSens, a ground-breaking effluent monitoring sensor, and many more, they have led the industry.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the gas jet compressor market, providing historical data for 2019 to 2023 and forecast statistics from 2023 to 2033.

To understand opportunities in the gas jet compressor market, the market is segmented based on compressor type (single-stage and multi-stage), pressure range (low pressure, medium pressure and high pressure), industry (oil exploration and production, chemical processing plants, power plants, food processing plants, pharmaceutical manufacturing, HVAC (heating, ventilation, and air conditioning), aerospace and defense and others), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).

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Key Segments

By Compressor Type:

The industry is classified into

• single-stage
• multi-stage.

By Pressure Range:

The report consists of pressure range like:

• low pressure,
• medium pressure
• high pressure.

By Industry:

The analysis is based on the industrial insights of:

• oil exploration and production,
• chemical processing plants,
• power plants,
• food processing plants,
• pharmaceutical manufacturing,
• HVAC (heating, ventilation, and air conditioning),
• aerospace
• defenseand
• others.

By Region:

Analysis of the industry has been carried out in key countries of:

• North America,
• Latin America,
• Western Europe,
• South Asia,
• East Asia,
• Eastern Europe,
• Middle East and Africa.

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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