The global turbocompressors market size reached USD 21.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 33.7 Billion by 2033, exhibiting a growth rate (CAGR) of 5.14% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 21.0 Billion |
Market Forecast in 2033
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USD 33.7 Billion |
Market Growth Rate 2025-2033 | 5.14% |
Turbocompressors are widely used in process plants to concentrate a compressible gas via dynamic principles. They also find application in the gas supply chain, energy recovery, and power generation during natural gas processing and petrochemical production. At present, they are widely available in various types, depending on the requirement of end users. For instance, water turbocompressors help produce refrigerants for the liquefaction of gases, such as oxygen, nitrogen, and helium, in different industrial processes. In addition, product variants operated by radial turbines provide a large capacity to absorb or deliver power, which helps boost the power of diesel engines.
Surging energy needs, along with a rapid rise in the installation of turboexpanders in offshore oil production sites, represents one of the major factors fueling the demand for turbocompressors in oil and gas facilities across the globe. Moreover, industries worldwide are emphasizing upgrading their existing turbocompressors with the latest high-efficiency impellers, blades, and sealing technologies. This is propelling leading players in improving the overall performance and reducing operational expenditures (OPEX) of machines. Apart from this, due to high requirements on efficiency and optimized specific power consumption, these players are focusing on improving the aerodynamic features of rotating equipment. They are also introducing lightweight, compact, and high-performance product variants with low energy costs and user-friendly microprocessors to stay competitive in the market. These variants have high power density and reliability, which help reduce the noise level and save fuel, resources, and energy. This, coupled with the boosting sales of vehicles on account of inflating income levels, is anticipated to increase the utilization of turbocompressors in the automotive industry for a reliable and cost-effective supply of oil-free compressed air.
IMARC Group provides an analysis of the key trends in each sub-segment of the global turbocompressors market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on type, stage and end user.
Breakup by Type:
Breakup by Stage:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Atlas Copco AB, BorgWarner Inc., Continental AG, Cummins Inc., Eaton Corporation plc, Howden Group Holdings Ltd, Ingersoll Rand Inc., Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE (Volkswagen AG), Mitsubishi Heavy Industries Ltd, Siemens AG and Sulzer Ltd.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Type, Stage, End User, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Atlas Copco AB, BorgWarner Inc., Continental AG, Cummins Inc., Eaton Corporation plc, Howden Group Holdings Ltd, Ingersoll Rand Inc., Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE (Volkswagen AG), Mitsubishi Heavy Industries Ltd, Siemens AG and Sulzer Ltd. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global turbocompressors market was valued at USD 21.0 Billion in 2024.
We expect the global turbocompressors market to exhibit a CAGR of 5.14% during 2025-2033.
The introduction of lightweight, compact, and high-performance turbocompressors variants that have high power density and reliability, which help to reduce the noise level and save fuel, resources, and energy, is primarily driving the global turbocompressors market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for turbocompressors.
Based on the type, the global turbocompressors market can be segmented into centrifugal compressors and axial compressors. Currently, centrifugal compressors hold the majority of the total market share.
Based on the stage, the global turbocompressors market has been divided into single stage and multi-stage, where single stage currently exhibits a clear dominance in the market.
Based on the end user, the global turbocompressors market can be categorized into oil and gas, power generation, chemical, water and wastewater, and others. Among these, oil and gas accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global turbocompressors market include Atlas Copco AB, BorgWarner Inc., Continental AG, Cummins Inc., Eaton Corporation plc, Howden Group Holdings Ltd, Ingersoll Rand Inc., Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE (Volkswagen AG), Mitsubishi Heavy Industries Ltd, Siemens AG, and Sulzer Ltd.