Tandem Piston Compressors Market

Tandem Piston Compressors Market Analysis

The Tandem Piston Compressors Market is expected to register a CAGR of 3% during the forecast period.

The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.

• Due to its high efficiency, it is used in various applications, including refrigeration, air cooling, and air separation, among others. Tandem piston compressors are also used in chemical and petrochemical facilities. These industries are witnessing significant growth worldwide, thus, boosting the market studied. Additionally, the growth of the natural gas industry is expected to drive the market studied over the forecast period, as the production of natural gas has increased due to a surge in the production from shale reserves.
• However, these compressors' requirement for more space is considered a restraint to the market's growth.
• Nevertheless, tandem piston compressors are widely used in natural gas processing and transportation. Hence, an increase in the demand for natural gas for power generation is likely to dominate the market during the forecast period.
• Moreover, developing industrial infrastructure in countries like the United States, Canada, Mexico, etc., is likely to offer huge business opportunities for the tandem piston compressors market. Furthermore, North America is expected to be a significant player in the market during the forecast period.

Tandem Piston Compressors Market Trends

The Natural Gas is Expected Dominate the Market

• Global Natural gas consumption increased by 5.3% and reached 4,037.5 billion cubic meters in 2021. The increase in natural gas can be attributed mainly to the shale gas boom, primarily due to the technological advancement in shale gas production in the past decade.
• The gas-producing companies expect greater use of natural gas in power generation, replacing coal. Furthermore, electricity generation through natural gas increased by 2.6% in 2021.
• Moreover, many countries see an increased role for gas in the energy mix, as electricity produced with gas has half the carbon dioxide emissions of coal power. Moreover, natural gas has a role in the energy mix that helps contribute to sustainable development if methane emissions are reduced.
• Due to the development of LNG terminals, LNG infrastructure worldwide is expanding rapidly; hence, the demand for natural gas is increasing. Therefore, pipeline operators are expected to have a high demand for tandem piston compressors for natural gas transmission, which helps drive the market during the forecast period.
• Moreover, Spot gas prices have reached record highs due to Europe's efforts to diversify its natural gas supply, which have increased demand for LNG cargoes, some of which have been diverted from Asia. The heating season of 2021-2022 saw average spot LNG prices in Asia more than four times higher than the five-year norm.

North America to Dominate the Market

• The offshore oil and gas projects in North America are becoming more competitive, owing to improving efficiencies and tightening of the supply chain, which has led to declining offshore drilling costs. Also, the recent significant expansion in U.S. oil and natural gas output is a result of technological innovation in drilling and production.
• The United States downstream industry accounted for a 17.6% share of the global refining capacity in 2021. Major factors driving the market include increased crude oil and gas production from the shale reserve and shifting focus toward the petrochemical industry.
• The United States oil and gas downstream sector is expected to witness modest growth in the future, with the increasing production of condensate splitters and the upgradation of existing facilities, primarily around the Gulf of Mexico. Additionally, fuels destined for export are expected to drive major gains in downstream production, especially LPG and distillates.
• After more than a decade of very little activity, the developments in the North American unconventional oil and gas markets have rekindled investment in new petrochemical capacity. The availability of natural gas liquids has expanded dramatically due to recent shale gas finds in the United States and Canada, and North America is once again a low-cost zone for synthesizing chemicals.
• Therefore, these factors suggest that North America is anticipated to dominate the tandem piston compressors market.

Tandem Piston Compressors Industry Overview

The Tandem Piston Compressors Market is fragmented. The key companies ( not in particular order ) include ABAC air compressors, BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Bitzer SE, Officine Mario Dorin SpA, and NuAir compressors (FNA SpA), among others.

Tandem Piston Compressors Market Leaders

Tandem Piston Compressors Market News

• July 2022: For more extensive dental practices and dental laboratories, the "Quattro Tandem" model of Durr Dental compressed air, which generates its tremendous output from two units with a combined eight cylinders, is especially ideal. Dürr Dental provides equipment with compressed air stations for up to 50 treatment stations in clinics and more if required.
• May 2022: ELGi Compressors Europe, a subsidiary of ELGi Equipments Limited, announced the upcoming European launch of the 'LD Series' family of lubricated direct drive reciprocating air compressors. New piston air compressor technology meets the needs of all industries seeking compact air compressors with great performance, minimal noise, and simple maintenance. The ELGi LD Series, with capacities ranging from 2.2 to 11kW, is a breakthrough in piston air compressor technology.