The Gas Compressors Market Size was valued at USD 5893 million in 2021 and it is expected to reach USD 7793.6 million by the end of 2027, growing at a CAGR of 4.1% between 2022 - 2027. Gas Compressors a mechanical device that increases the pressure of a gas by reducing its volume. Compressors are similar to pumps: both increase the pressure on a fluid and both can transport the fluid through a pipe. As gases are compressible, the compressor also reduces the volume of gas; these are the main factors that have considerably increased the demand for Gas Compressors in the market, thereby driving the huge growth of the Gas Compressors market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for Gas Compressors in the market is mainly due to the increasing environmental awareness over the last decade, most countries have planned to lower their carbon emissions by shifting from coal-based electricity generation to gas-based energy generation concept, which supported the natural gas production increase globally between 2010 and 2020 by 22.3%. The increase in natural gas production and its consumption for electricity generation is likely to continue, which is expected to support the demand for gas compressors from the oil and gas industry; these are the main factors that have considerably increased the demand for the Gas Compressors in the market, thereby driving the huge growth of the Gas Compressors market in the upcoming years

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The report is segmented as:

The Gas Compressors Market is segmented on the basis of by :

By Type (Positive Displacement and Dynamic Displacement),

By End-user Industry (Oil and Gas Industry, Power Sector, Petrochemical, and Chemical Industries, and Other End-user Industries)

Geographical Segmentation:

The Gas Compressors Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the rest of the world. North America has the dominant share in Gas Compressors due to the increase in gas consumption worldwide, the international trading of gas in the form of LNG has increased these are the main factors that have considerably increased the demand for Gas Compressors in North America, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa will register a slower increase in the Gas Compressors Market

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Impact of COVID-19 on the Market

Covid -19 pandemic has affected the growth of business in every sector and it also affected the growth of the Gas Compressors market, and the temporary lack of growth in export and import activities, which has impacted the rays of the Gas Compressors market growth. The covid-19 pandemic has impacted hugely the sales revenue of the Gas Compressors market. The government restrictions like lockdown in many countries has shut down commercial and industrial establishments and also stopped transportation these made huge losses for the Gas Compressors market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of coronavirus.

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