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Turbocompressor Market
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Turbocompressor Market

Author: Swarup Sahu - Senior Consultant, Report ID - DS1402003, Published - December 2024

Segmented in Product Type (Centrifugal, Axial), Application (Oil & Gas, Chemical, Hydrogen, LNG, Others), Stage Configuration, Power Rating and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2024 – 2034

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Global Turbocompressor Market Outlook

The turbocompressor has made an impact in various industries, like oil & gas and power generation by improving energy efficiency and reducing operational costs effectively and sustainably. The market, for Turbocompressor was estimated at $18.6 billion in 2024. It is anticipated to increase to $28.2 billion by 2030 with projections indicating a growth to around $40.0 billion by 2035. This expansion represents a compound annual growth rate (CAGR) of 7.2% over the forecast period.


The Turbocompressor is known for its size and excellent efficiency as a compressor with distinct features like reliability and superior performance at different speeds along with low maintenance needs highlighted in recent usage trends for heat recovery systems and the expanding LNG sector demand it more than ever before due to the integration of advanced aerodynamic technologies and magnetic bearings, in its design which further enhance its significance in todays industries.


Market Size Forecast & Key Insights

2019
$18.6B2024
2029
$37.3B2034

Absolute Growth Opportunity = $18.7B

The Turbocompressor market is projected to grow from $18.6 billion in 2024 to $37.3 billion in 2034. This represents a CAGR of 7.2%, reflecting rising demand across Process Gas Boosting, Air Conditioning Systems and Oil and Gas Industry.

The Turbocompressor market is set to add $18.7 billion between 2024 and 2034, with manufacturer targeting Chemical & Hydrogen Application projected to gain a larger market share.

With Increasing energy demand, and Rise in industrialization, Turbocompressor market to expand 100% between 2024 and 2034.

Opportunities in the Turbocompressor Market

Next-Generation Gas Turbines

The advancement of the gas turbine technology has created exciting possibilities for turbocompressors to explore further avenues of innovation and development in the field of energy production and efficiency.

Decentralized Energy Systems and Expansion of LNG Plants

The rise of energy systems presents a promising opportunity for the turbocompressor market as there is a growing need for smaller and more efficient systems in energy production at a smaller scale which could lead to an increased demand, for turbocompressors.

The widespread development of LNG (liquefied gas) facilities is a significant driver of growth for the turbocompressor industry. Turbocompressors play a role in the gas liquefaction process; therefore the rising number of LNG plants will lead to higher demand, for turbocompressors.

Growth Opportunities in North America and Europe

Europe Outlook

The turbocompressor market in Europe is experiencing growth due to the robust industrial sector in the region focusing primarily on oil & gas and wastewater treatment industries. The market is competitive with opportunities arising from the growing use of energy efficient systems and strict environmental regulations across different industries being enforced. Additionally investments in energy projects are also playing a role, in shaping the market trends.

North America Outlook

In North America's turbocompressor market today major players in the energy and utilities sector hold sway leading to competition among them due to technological progress and a growing emphasis on energy conservation creating numerous prospects for growth, in the industry especially fueled by increased natural gas exploration ventures and the development of chemical processing facilities boosting market growth in the area.

North America Outlook

In North America's turbocompressor market today major players in the energy and utilities sector hold sway leading to competition among them due to technological progress and a growing emphasis on energy conservation creating numerous prospects for growth, in the industry especially fueled by increased natural gas exploration ventures and the development of chemical processing facilities boosting market growth in the area.

Europe Outlook

The turbocompressor market in Europe is experiencing growth due to the robust industrial sector in the region focusing primarily on oil & gas and wastewater treatment industries. The market is competitive with opportunities arising from the growing use of energy efficient systems and strict environmental regulations across different industries being enforced. Additionally investments in energy projects are also playing a role, in shaping the market trends.

Growth Opportunities in North America and Europe

Established and Emerging Market's Growth Trend 2025–2034

1

Major Markets : United States, Germany, China, Japan, India are expected to grow at 4.7% to 6.9% CAGR

2

Emerging Markets : India, Saudi Arabia, Brazil are expected to grow at 8.3% to 9.9% CAGR

Market Analysis Chart

The rising demand for Turbobcompressors in sectors such as oil & gas and processing industries is fueled by the growth and advancement of industries requiring effective compression solutions, like Turbobcompressors.

Recent Developments and Technological Advancement

December 2024

Siemens Energy introduced a turbocompressor to meet the growing industrial needs and demonstrate notable technological advancement, in the market.

October 2024

Baker Hughes has broadened its range of turbocompressor products to offer solutions, for energy generation. This move highlights a pivot toward promoting sustainability.

August 2024

Atlas Copco has rolled out maintenance services powered by AI for their turbocompressors as a way to demonstrate the use of cutting edge technology in enhancing operational efficiency.

Recent trends in the market indicate an increase in the need for turbocompressors due to growth in sectors like oil & gas exploration and production as well as power generation and water treatment industries adopting advanced technology, for better efficiency and environmental impact reduction through the use of reliable turbocompressors that are known for their energy efficiency and lower CO2 emissions.

Impact of Industry Transitions on the Turbocompressor Market

As a core segment of the Pumps, Motors & Valves industry, the Turbocompressor market develops in line with broader industry shifts. Over recent years, transitions such as Transition to Energy-Efficient Compressors and Adoption of Digitalization and IoT have redefined priorities across the Pumps, Motors & Valves sector, influencing how the Turbocompressor market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Transition to Energy-Efficient Compressors:

The market for turbocompressors is experiencing a transition towards energy efficient options due to concerns about the high energy consumption of traditional compressors and the growing emphasis on reducing carbon footprints. Technological progress has enabled the development of efficient turbocompressors making energy conservation a notable shift, in the industry.

2

Adoption of Digitalization and IoT:

A significant shift happening in the turbocompressor industry is the embrace of digitalization and Internet of Things (IoT). These technological improvements streamline operations. Enable more accurate predictive maintenance to decrease the likelihood of unexpected downtimes. Consequently,. Turbocompressor makers are progressively incorporating IoT features, into their offerings.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Pumps, Motors & Valves industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Pumps, Motors & Valves industry cascade into the Turbocompressor market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: Increasing Energy Demand, and Technological Advancements in Turbocompressor Design

The global need for energy is also increasing across sectors like power generation as demand rises steadily worldwide. Thanks to their energy conversion capabilities turbocompressors have also become a preferred option, in these industries promoting their market expansion.
Todays turbocompressors have also improved significantly due, to advancements and better aerodynamics which result in increased productivity and energy efficiency levels that contribute to market growth by offering effective and cost efficient compressor solutions.
With the rapid growth of industrialization in developing nations comes a rising need for turbocompressors in sectors such, as manufacturing and mining that are also experiencing expansion.

Restraint: Regulatory and Environmental Constraints

The market for turbocompressors is also under pressure from strict environmental regulations that cover emission standards and noise pollution control as well as efficiency requirements that are getting tougher all the time. Pushing manufacturers to put a lot of money into research and development to keep their products meeting the standards required by law. This increased investment could lead to prices for consumers and poses another challenge, for the markets expansion.

Challenge: High Maintenance Cost

Exploring the market trends of turbocompressors reveals a challenge, in terms of maintenance expenses.

Supply Chain Landscape

Raw Materials Procurement

ArcelorMittal

BHP Group

Component Manufacturing

Siemens

General Electric

Turbocompressor Assembly
Baker Hughes / MAN Diesel & Turbo
End User Industries
Oil & Gas / Chemical / Power Generation
Raw Materials Procurement

ArcelorMittal

BHP Group

Component Manufacturing

Siemens

General Electric

Turbocompressor Assembly

Baker Hughes

MAN Diesel & Turbo

End User Industries

Oil & Gas

Chemical

Power Generation

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Leading Providers and Their Strategies

Application AreaIndustryLeading ProvidersProvider Strategies
Oil and Gas Processing
Oil and Gas
Siemens AG
Focus on energy-efficient compressor solutions that reduce costs and meet environmental standards
Wastewater Treatment
Utilities
Mitsubishi Heavy Industries
MHI concentrates on the production of high-performance turbocompressors, with lower maintenance costs and longer service life
Heat Ventilation and Air Conditioning (HVAC)
Building Technologies
Atlas Copco
Atlas Copco prioritizes innovation competency, investing in research and development to improve compressor efficiency and durability
Power Generation
Energy and Power
Ingersoll Rand
Ingersoll Rand emphasizes customer-centric solutions, creating turbocompressors tailored to specific operational efficiency and reliability requirements

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Turbocompressor market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Turbocompressor in Process Gas Boosting, Air Conditioning Systems and Oil and Gas Industry

Process Gas Boosting

Turbo compressors are commonly utilized in industries to increase the pressure of process gases effectively and enhance productivity significantly. Siemens and GE Oil & Gas are companies known for providing top notch turbocompressors with exceptional performance capabilities.

Air Conditioning Systems

In central air conditioning systems turbocompressors are used to boost the refrigerant pressure for better circulation. One advantage of using them is their energy efficiency leading to cost savings due, to power consumption compared to other options. Mitsubishi Heavy Industries and Hitachi are known industry leaders in this field.

Oil and Gas Industry

Turbochargers play a role in the oil and gas sectors for tasks like fluid pumping and gas lifting along with other functions essential to operations there. Their smooth incorporation into production processes, dependable performance and minimal maintenance requirements are the attributes that set them apart in that industry. Baker Hughes and Atlas Copco are companies known for crafting turbocompressors designed for use, in the oil and gas domain.

Turbocompressor vs. Substitutes:
Performance and Positioning Analysis

Turbochargers are crafted to handle volumes of airflow and provide substantial pressure levels while prioritizing efficiency compared to other options such as reciprocating or rotary screw compressors. Its distinct market positioning is centered around the projected expansion, in sectors that prioritize energy conservation and applications with demand.

Turbocompressor
  • Centrifugal Compressor /
  • Reciprocating Compressor /
  • Scroll Compressor
    High compression efficiency, minimal maintenance requirements
    High initial investment, complex installation process
    High efficiency, lower operational costs
    High upfront costs, requires skilled maintenance

Turbocompressor vs. Substitutes:
Performance and Positioning Analysis

Turbocompressor

  • High compression efficiency, minimal maintenance requirements
  • High initial investment, complex installation process

Centrifugal Compressor / Reciprocating Compressor / Scroll Compressor

  • High efficiency, lower operational costs
  • High upfront costs, requires skilled maintenance

Turbochargers are crafted to handle volumes of airflow and provide substantial pressure levels while prioritizing efficiency compared to other options such as reciprocating or rotary screw compressors. Its distinct market positioning is centered around the projected expansion, in sectors that prioritize energy conservation and applications with demand.

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Research Methodology

This market research methodology defines the Turbocompressor market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at macro and micro levels. As part of the Pumps, Motors & Valves ecosystem, we analyze Turbocompressor across Oil & Gas, Chemical, and Hydrogen Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.



Key Sources Referenced:

Prodcom / Census US / Statcan / e-stat Japan / ABS Australia / KOSIS Korea

Annual Reports / Industry Magazines / Country Level Ministerial Sources / World Mining Data

• Trade Sources (USA Trade Census, EU Comext, China Customs)

Interviews of Industry Stake Holders

Industry Views of Consultants

merics.org

• NAICS - Economic Statistics (US, Canada)

DataString Database

We benchmark competitors such as Siemens AG, GE Oil & Gas, and Mitsubishi Heavy Industries Ltd by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Materials Procurement, Component Manufacturing, and Turbocompressor Assembly. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global Pumps, Motors & Valves revenues to estimate the Turbocompressor segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Materials Procurement (ArcelorMittal, BHP Group), Component Manufacturing (Siemens, General Electric), and Turbocompressor Assembly. Our parallel substitute analysis examines Centrifugal Compressor, Reciprocating Compressor, and Scroll Compressor, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as Siemens AG, GE Oil & Gas, and Mitsubishi Heavy Industries Ltd, analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Turbocompressor market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Turbocompressor Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2025USD 19.9 billion
Revenue Forecast in 2034USD 37.3 billion
Growth RateCAGR of 7.2% from 2025 to 2034
Base Year for Estimation2024
Industry Revenue 202418.6 billion
Growth OpportunityUSD 18.7 billion
Historical Data2019 - 2023
Growth Projection / Forecast Period2025 - 2034
Market Size UnitsMarket Revenue in USD billion and Industry Statistics
Market Size 202418.6 billion USD
Market Size 202722.9 billion USD
Market Size 202926.3 billion USD
Market Size 203028.2 billion USD
Market Size 203437.3 billion USD
Market Size 203540.0 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredProduct Type, Application, Stage Configuration, Power Rating
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledSiemens AG, GE Oil & Gas, Mitsubishi Heavy Industries Ltd, Man Diesel & Turbo SE, Atlas Copco AB, Ingersoll Rand, Elliott Group Ltd, Kobe Steel Ltd, Howden Group Ltd, Sulzer Ltd, SKF and Kawasaki Heavy Industries Ltd
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Turbocompressor Market Size, Opportunities & Strategic Insights, by Product Type

4.1Centrifugal
4.2Axial
Chapter 5

Turbocompressor Market Size, Opportunities & Strategic Insights, by Application

5.1Oil & Gas
5.2Chemical
5.3Hydrogen
5.4LNG
5.5Others
Chapter 6

Turbocompressor Market Size, Opportunities & Strategic Insights, by Stage Configuration

6.1Single-Stage
6.2Multi-Stage
Chapter 7

Turbocompressor Market Size, Opportunities & Strategic Insights, by Power Rating

7.1Low
7.2High
Chapter 8

Turbocompressor Market, by Region

8.1North America Turbocompressor Market Size, Opportunities, Key Trends & Strategic Insights
8.1.1U.S.
8.1.2Canada
8.2Europe Turbocompressor Market Size, Opportunities, Key Trends & Strategic Insights
8.2.1Germany
8.2.2France
8.2.3UK
8.2.4Italy
8.2.5The Netherlands
8.2.6Rest of EU
8.3Asia Pacific Turbocompressor Market Size, Opportunities, Key Trends & Strategic Insights
8.3.1China
8.3.2Japan
8.3.3South Korea
8.3.4India
8.3.5Australia
8.3.6Thailand
8.3.7Rest of APAC
8.4Middle East & Africa Turbocompressor Market Size, Opportunities, Key Trends & Strategic Insights
8.4.1Saudi Arabia
8.4.2United Arab Emirates
8.4.3South Africa
8.4.4Rest of MEA
8.5Latin America Turbocompressor Market Size, Opportunities, Key Trends & Strategic Insights
8.5.1Brazil
8.5.2Mexico
8.5.3Rest of LA
8.6CIS Turbocompressor Market Size, Opportunities, Key Trends & Strategic Insights
8.6.1Russia
8.6.2Rest of CIS
Chapter 9

Competitive Landscape

9.1Competitive Dashboard & Market Share Analysis
9.2Company Profiles (Overview, Financials, Developments, SWOT)
9.2.1Siemens AG
9.2.2GE Oil & Gas
9.2.3Mitsubishi Heavy Industries Ltd
9.2.4Man Diesel & Turbo SE
9.2.5Atlas Copco AB
9.2.6Ingersoll Rand
9.2.7Elliott Group Ltd
9.2.8Kobe Steel Ltd
9.2.9Howden Group Ltd
9.2.10Sulzer Ltd
9.2.11SKF
9.2.12Kawasaki Heavy Industries Ltd