Centrifugal Compressor Market Size, Share, and Analysis, By Product (Single-Stage and Multistage), By Discharge Pressure (Below 20 Bars, Between 20 and 200 Bars, Between 200 and 400 Bars, and Above 400 Bars), By End-User (Oil and Gas, Power Sector, Petrochemical and Chemical Industries, and Others), and Regional Forecast, 2025-2032

A centrifugal compressor is machinery equipment considered appropriate for large gas flow with a stumpy compression ratio and steady operational circumstances. This type of compressor is extensively used across the oil and gas industry for several applications, such as processing petrochemicals in oil refineries and for natural gas flow in pipelines.

The foremost advantage of centrifugal compressors is their capability to handle large volumes of gas professionally. This is mainly true for applications with needful medium to high flow rates and reasonable compression ratios. Moreover, compared to other substitutes, centrifugal compressors usually require less maintenance and can attain higher flow rates.

KEY INSIGHTS

The report includes the following key findings:

• Recent Advancements in the Centrifugal Compressor Market


• Key industry trends


• The Regulatory Landscape in the Centrifugal Compressor Market


• Impact of COVID-19 on the Centrifugal Compressor Market

SEGMENTATION

ANALYSIS BY PRODUCT

By product, the global centrifugal compressor market is segmented into single-stage and multistage. The single-stage segment is the dominating segment that holds the maximum share of the global market. This is expected to grow at a noteworthy growth rate through the forecast year. An upsurge in acceptance of the single-stage centrifugal compressors for various sectors, such as refineries, petrochemicals, and oil & gas. Multistage is the fastest-growing segment driven by its advantages in application, such as greater energy efficiency, less moisture, and reduced overheating.

ANALYSIS BY DISCHARGE PRESSURE

Based on discharge pressure, the global centrifugal compressor market is segmented into below 20 bars, between 20 and 200 bars, between 200 and 400 bars, and above 400 bars. Considering multi and single stages, applications can go up to 13 bar in lower compression machinery and as high as 205 bar in 4-8-stage turbomachinery. Hence, 20 to 200 bars are the dominant segment in the market. 20-400 bars technology type is considered the fastest growing segment driven by its applications in heavy industry operations, such as oil & gas and petrochemicals.

ANALYSIS BY END-USER

By end-user, the centrifugal compressors market is segmented into oil and gas, power sector, petrochemical and & chemical industries, and others. The oil & gas sector held the maximum share in 2023. The oil and gas sector delivers wide applications for centrifugal compressors, which comprise the upstream, midstream, and downstream industries. It plays a crucial role in applications, such as Hitachi's centrifugal compressors for FPSO schemes, which are a key module in operation and are making a change on the seas in Brazil's offshore production of seabed resources. The power sector is one of the fastest-growing segments driven by the growing energy demand globally. Other sectors, such as petrochemicals and chemicals, are also contributing a huge amount of the share in the market.

REGIONAL ANALYSIS

The global centrifugal compressor market is segmented into regions, such as North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.

North America is expected to increase its market share during the forecast period due to the development of oil and unconventional natural gas resources in the countries. For Instance, in 2022, the U.S. spent an average of about 20.01 million barrels of petroleum per day, which is a total of about 7.3 billion barrels of petroleum.

Asia Pacific is expected to be the fastest-growing region driven by the rise in sector applications where centrifugal compressors are used. In addition, the rising developments in the industry sectors are also among the factors driving the Asia Pacific market.

European countries, such as Germany, the U.K., and Russia, are continuously growing in the oil & gas and power generation sector, hence boosting the market growth of compressors as essential equipment. Moreover, rising renewable projects for power generation are also one of the factors backing the market growth.

Latin America and the Middle East & Africa countries are also focusing on renewable projects and the mining industry, where the centrifugal compressor is heavily used as an important equipment. This will boost the market growth as countries such as Brazil, UAE, and Saudi Arabia have continuously focused on developments in recent years.

KEY PLAYERS COVERED

Key players in the global centrifugal compressor market are Siemens, MAN Energy Solutions SE, Baker Hughes Co., Atlas Copco AB, Howden Group, Ingersoll-Rand PLC, Sullair, LLC, Kobe Steel, Ltd., Mitsubishi Heavy Industries, and Sundyne.

KEY INDUSTRY DEVELOPMENTS

• In March 2024- Copeland proclaimed the announcement of its new oil-free centrifugal compressor with self-levitating frictionless bearing technology for multiple applications. It is specially designed for critical data centers, large chiller health care, and heat recovery applications.


• In May 2023 – Kametstal finished the renovation of the SM-6000 centrifugal compressor. The centrifugal compressor is intended to be a long-term safe process; the unit compresses about 20,000 cubic meters of nitrogen, which is then delighted to the crushed coal fuel injection unit of the explosion furnace.