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Anticipated demand for industrial compressors – IndiaCentrifugal compressors market to reach INR 19 billion by 2019ValueNotes presents a research report on the industrial compressors industry in India. This industry report covers intelligence on the market size, growth, industry trends, industry attractiveness, and Porter’s analysis. The report covers fiscal years 2014 through 2019.
Industrial compressors industry is used to create a high pressure for functioning heavy machines in industries such as cement, steel, oil & gas, petroleum, textile, etc. Industrial compressors can be classified into reciprocation, centrifugal and screw compressors. Screw compressors are highest selling compressors in India followed by centrifugal compressors. Centrifugal compressors are slowly replacing screw compressors because of their higher energy efficiency, high level of compression and noise free operations.
Many expansion projects, which are in the pipeline in the oil & gas, cement and steel industries, will be executed in the next 4-5 years and this will generate overall demand for industrial compressors in India.
- The industrial compressors industry in India, currently valued at INR 33bn (~USD 550mn) in FY 2014, has been growing at a CAGR of ~7% for the last three years. ValueNotes estimates that the industry will be worth approximately INR 50bn (~USD 833 million) by FY 2019, growing at CAGR of ~9%
- Though screw compressors have captured 50% of the overall industrial compressors market (by value) in India, centrifugal compressors are currently in a state of growth with 30% of the market (by value). In the future, centrifugal compressors will have a ~38% share of the overall industrial compressors market (by value).
- Growth in the steel, power, oil & gas and cement industries are generating demand for industrial compressors
- Emerging industries like geo thermal and waste heat will boost the demand for industrial compressors
The report includes profiles of the top-5 players with a brief overview about their service offerings, key financial ratios, expansion strategies, etc.
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