ALBANY, N.Y.–(BUSINESS WIRE)–Transparency Market Research announced the publication of a report titled “Reciprocating Compressors (By Type – Industrial Process Gas Reciprocating Compressors, Labyrinth Piston Compressors, Liquefied Natural Gas (LNG) Reciprocating Compressors, Oil-free Reciprocating Compressors and Hyper Compressors; By Application – Upstream Oil and Gas, Refinery, Industrial Gases, LNG and CNG Transport and Storage and Ethylene and LDPE Plants) Market – China Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022”. According to the research report, the China reciprocating compressors market was estimated at US$771.1 million in 2014 and is expected to reach a value of US$ 1,178.9 million by 2022, developing at a positive CAGR of 5.3% from 2015 to 2022.
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The China reciprocating compressors market has been witnessing a great demand due to their cost-effectiveness. The need to replace the old compressors in industries is expected to contribute to the demand of industrial process gas reciprocating compressors in the coming few years. Analysts also predict that demand for reciprocating compressors in the LNG and CNG transport and storage application segment will increase significantly. The only hurdle for this market is the increasing adoption of screw compressors for industrial process gas compression.
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The China reciprocating compressors market is segmented on the basis of types and applications the types of reciprocating compressors are oil-free reciprocating compressors, hyper compressors, liquefied natural gas (LNG) reciprocating compressors, industrial process gas reciprocating compressors, and labyrinth piston compressors. The applications of reciprocating compressors are seen in upstream oil and gas, industrial gases, refinery, ethylene and LDPE plants.
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The key players in the China reciprocating compressors market are Shenyang Blower Works Group Corporation, Shenyang Yuanda Compressor Co. Ltd., Shanghai Dalong Machinery Factory Co., Ltd., Nanjing Compressor Co., Ltd., and Beijing JinKaiwei General Machinery Co.
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Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.