China Reciprocating Compressors Market growing due to Importance of Asset Management in Industry
The reciprocating compressors face a significant challenge from rapidly growing adoption of screw compressors for industrial process gas compression. Reciprocating compressors being a cost-effective choice would continue to find demand in China. Also, a significant proportion of demand for industrial process gas reciprocating compressors is expected to generate from replacement of old compressors which do not match current revised specifications. In China, the reciprocating compressors market was valued at US$ 771.1 Mn in 2014 and is projected to reach a value of US$ 1,178.9 Mn by 2022, growing at a CAGR of 5.3% during the period 2015 to 2022.
The major types of reciprocating compressors include industrial process gas reciprocating compressors, labyrinth piston compressors, liquefied natural gas (LNG) reciprocating compressors, oil-free reciprocating compressors and hyper compressors. Oil-free reciprocating compressors are expected to experience significant growth in demand during the coming years. The increasing environmental consciousness and initiatives of Chinese government has led to stricter regulations for improving air quality. This is leading to significant growth in demand for various oil-free compressors including oil-free reciprocating compressors in China. Moreover, high wear rates in oil lubricated reciprocating compressors have led to the increased focus on labyrinth piston compressors. Chinese manufacturers are also increasingly focusing on offering large scale labyrinth piston compressors such as four columns and three columns. The study is further categorized into upstream oil and gas, refinery, industrial gases, LNG and CNG transport and storage and ethylene and LDPE plants based on applications. LNG and CNG transport and storage is growing in China, driven by a burgeoning vehicle population in the country. It is anticipated that there would be a significant growth in demand for reciprocating compressors from LNG and CNG transport and storage application segment during the coming years. Reciprocating compressor demand in China is also expected to receive a fillip due to the expansion of small and medium size LNG plants in China. LNG production from coke oven gas is a key future trend for investment in China.
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The market for reciprocating compressors in China is highly competitive. In the present scenario, reciprocating compressor manufacturers in China can be divided into three categories: multinational manufactures, local manufacturers with superior R&D capabilities/investments and local manufacturers with low R&D capabilities/investments. In 2014, Wuxi Compressor Co., Ltd., Shenyang Yuanda Compressor Co., Ltd., Shenyang Blower Works Group Corporation, Zigong Tongda Machinery Manufacturing Co., Ltd., and Shanghai Dalong Machinery Factory Co., Ltd. were identified to be the major China-based manufacturers of reciprocating compressors. The manufacturers are increasingly focusing on offering energy-efficient reciprocating compressors in order to sustain the competition in the market. Furthermore, it is anticipated that during the coming years, there would be increase in number of partnerships and mergers and acquisition activities among the compressor manufacturers in China. During the coming years, strategic pricing, efficiency improvement, targeting specific segments with integrated solutions, and offering value-added and after sales services would be the key to gaining market share in the China reciprocating compressors market.
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Table of Content
Chapter 1 Preface
Chapter 2 China Reciprocating Compressors Market Analysis, by Type
Chapter 3 China Reciprocating Compressors Market Analysis, by Application
Chapter 4 Competitive Landscape
Chapter 5 Company Profiles
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