Natural-gas extraction driving compressors and vacuum-pumps

Sept. 13, 2007
Increasingly sophisticated production in developed nations and the spread of industrialization in developing nations are driving demand for compressors and vacuum pumps.

By 2010, the market is projected to reach $10.1 billion. And rising fuel prices and dwindling supplies have led to more natural gas extraction, which, in turn, boosts the market for compressors and vacuum-pumps.

Development of extraction, processing, and transportation equipment for natural gas should propel global demand for compressors. The compressors and vacuum-pumps market in Asia-Pacific, for example, is poised to grow by $90 million by 2010. In Latin America, the market is expected to grow by 16% in the same period. Combined, Germany and the U.K. comprise over 55% of the European market for compressors and vacuum pumps. France and Italy, combined, are expected to reach $917 million by 2010.

The industry has come a long way since 1991, when global sales of compressors and vacuum pumps generated $3.73 billion. By 2003, sales reached $6.85 billion, according to the recent report by Global Industry Analysts, Inc.

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