The global centrifugal compressors market, valued at US$ 8.54 billion in 2024, is projected to grow to US$ 13.50 billion by 2033. This growth represents a compound annual growth rate (CAGR) of 5.22% from 2025 to 2033.
Centrifugal compressors are in high demand due to the growing need for energy-efficient and high-performance compression solutions. These machines, which use rotating impellers to speed up gas and convert kinetic energy into pressure, are essential across industries such as oil and gas, pharmaceuticals, and power generation.
The oil and gas industry remains the largest consumer, making up around 30% of the market. Centrifugal compressors are crucial in gas transportation, processing, and refining. The expansion of liquefied natural gas (LNG) infrastructure, particularly in regions like Asia-Pacific and North America, is driving this demand. Currently, there are over 1,000 LNG facilities worldwide.
In addition to traditional sectors, the power generation industry is increasingly adopting natural gas-fired plants. This shift is fueling the use of centrifugal compressors, especially in emerging economies focused on cleaner energy production.
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