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IMARC Group, a leading market research company, has recently released a report titled “Turbocompressors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” The study provides a detailed analysis of the industry, including the global turbocompressors market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Turbocompressors Industry?According to the report, The global turbocompressors market reached a value of US$ 17.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.5 Billion by 2027, exhibiting at a CAGR of 6.4% during 2022-2027.
What is Turbocompressors?Turbocompressors are machines used to compress the airflow in engine cylinders. They are built using materials such as aluminum, stainless steel, titanium alloys, and magnesium, which enable them to withstand high temperatures. They are also used to increase the power of diesel engines through radial turbines. They are more efficient than reciprocating compressors and can relieve the pressure that develops in injected gas. At present, turbocompressors are gaining immense traction across the globe due to their rising power generation capacity.
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What are the growth prospects and trends in the Turbocompressors industry?The global turbocompressors market is primarily driven by the increasing demand for natural gas and the rising installation of gas pipeline networks. Moreover, the surging adoption of turbocompressors for carbon dioxide transmissions is positively influencing market growth. Additionally, ongoing technological advancements, such as high-efficiency sealing and the integration of blades and impellers with turbocompressors, have catalyzed market growth. Besides this, key players are investing heavily in lightweight products that reduce noise levels, energy consumption, and fuel consumption to promote sustainable development, thereby propelling market growth. Furthermore, the rising use of turbocompressors in wastewater management and regulating airflow in pharmaceutical plants and systems is contributing to market growth. Other factors, including ongoing research and development (R&D) activities, the introduction of new product variants, and rapid industrialization, are also anticipated to drive the market further.
What is included in market segmentation?The report has segmented the market into the following categories:
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The report covers the major market players including:
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