Market Definition / Research Scope
A compressor wheel is a vital turbocharger component that is used to boost air pressure intake of an internal combustion engine. Compressor wheels are usually made of aluminum material because aluminum has low density. Casting of compressor wheels is more simple and less expensive when using aluminum. Nowadays turbochargers have more pressure volumes and they spin much faster. This makes it important for the compressor wheel to be cast with strong material.
Compressor Wheel Market size shall reach a value of $2x61.4 Million in 2031, growing with a CAGR of 12.13% during the forecast period of 2022 to 2031.
With the automobile market expanding, demand for turbochargers is growing and increasing by the day. This is due factors like turbochargers improving fuel performance. Compressor wheels have various applications like in gas industries, chemical and oil. They are used in transmitting & processing all types of natural gases and in charging piston engines. Increase in the gas market will inevitably lead to high demands of turbo compressors.
The wheel compressor market is projected to be dominated by the Asia Pacific region which is saturated with big chemical industries and oil processing plants. High populations in countries like India and China together with increased industrialization in these countries have made them the preferred market for wheel compressors. More revenue is being generated from this region. The Middle East and Africa regions are showing high potentials for market growth with emergence of new oil and gas processing plants.
Wheel compressors are also applied in automotive, trains, aerospace, and water and wastewater treatment plants.
Compressor Wheel Market Growth and Trends
A compressor wheel dynamically integrates with a turbocharger which allows it to extract maximum air pressure for its operation. Lightweight equipment with an aluminium fabrication, these equipment engender fast spinning at a high pressure speed. The expansion of their current and the future market entails the below mentioned factors:
• Increasing LPG (Liquefied Petroleum Gas) harnessing countries in developed and developing countries. The market size of LPG accounts to 122.29 billion dollars in 2022 and is expected to attain a value of 164.36 billion dollars by 2026, with a CAGR of 4.4%.
• Moreover, Technological advancements in turbocharging machines. The new turbocharge designs are networked with superback and deepback components for a seamless propulsion.
• The expanding market for automobiles and the use of CNG alternatives upsurges the future market for compressed wheels. In fact, the global automobile industry anticipates reaching a value of 9 trillion dollars by 2030.
Challenges to Compressed Wheel Markets
Here are some of the pertinent challenges to compressed wheel market
• Lack of awareness among underdeveloped suburbs may hamper their upcoming global market.
Compressor Wheel Market Regional Analysis
Compressor Wheel Market Share and Competition
Key companies operating in this industry are: Turbotech Precision Products Ltd, UACJ Corporation, Doncasters Group Ltd, Melett Ltd., ABI Showatech (I) Private Limited, and Wabtec Corporation.
Compressor Wheel Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Aluminum Compressor Wheel
• Titanium Compressor Wheel
• Stainless Steel Compressor Wheel
• Twin Blade Compressor Wheel
Diameter Analysis (Revenue, USD Million, 2022 - 2031)
• 20 mm – 40 mm
• 40 mm – 60 mm
• More than 60 mm
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Compressor Wheel Market Companies
• Turbotech Precision Products Ltd
• UACJ Corporation
• Doncasters Group Ltd
• Melett Ltd.
• ABI Showatech (I) Private Limited
• Wabtec Corporation
Available Versions: -
United States Compressor Wheel Market Research Report
Europe Compressor Wheel Market Research Report
Asia Pacific Compressor Wheel Market Research Report
India Compressor Wheel Market Research Report
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