Global Centrifugal Compressors Market Size Has Reached About 1718 Million USD In 2017
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At present, the major manufacturers of Centrifugal Compressors are Atlas Copco, Ingersoll Rand, Sullair, KAESER, Gardner Denver, Fusheng, Hitachi, Kobelco, Boge, etc. The top five of them is holding about 45% revenue (value) market share in 2017. The principal methods of competition in these markets relate to price, quality, delivery, service and support, technology and innovation. Market players are emphasizing more on product development and product differentiation to acquire competitive advantage, while small players are emphasizing more on the price competition.
Global giant manufactures headquarters mainly distributed in Europe, Japan, China, and USA. The manufacturers in Europe and USA have long histories and unshakable status in this field. Manufacturers such as Atlas Copco and Ingersoll Rand have relative higher level of product’s quality. As to Japan, Kobelco and Hitachi have become as global leaders. The production centers for leading players are moving to developing countries such as China for their low manufacture cost and developing consumer groups.
Global Centrifugal Compressors market size has reached about 1718 million USD in 2017 from 1696 million USD in 2013, with a slight growth these years. Key consumption markets locate at APAC, North America, Europe, while Middle East takes about 10-12% market share for use in petrochemical and some other industries. USA takes the biggest consumption market share of 28% in 2017. Europe and China, Japan are also playing important roles in global market, India and Southeast Asia will see positive development in forecast period.
In the international market, the marketing channels characteristic differ from company to company. The international leading companies prefer setting up factories directly into aimed market, and taking own sales department to expand market. The giant companies are more likely to set their own big agents in some major countries and regions taking charge of regional business building their international market position. Companies in developing countries such as China, in contrast, put more effort on direct selling business.