Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
13 April, 2021 00:36 IST
Infrastructure to boost India's industrial compressors industry to Rs 50 bn by 2019
Source: IRIS | 30 Jun, 2014, 10.15AM
Rating: NAN / 5 stars.
Comments  |  Post Comment

Multinational companies used to distribute industrial compressors through vendors in India in the early 1900s. The first reciprocating compressors manufacturing plant was established in the country in 1965 by Ingersoll Rand. Since then, India's industrial compressors industry has come a long way. The total market was valued at Rs 33 billion in FY 2014 and is expected to grow at a CAGR of 9%, to reach Rs 50 billion in FY 2019.

Almost 85% of the overall industrial compressors market is organized. The market is dominated by companies like Atlas Copco, Ingersoll Rand, Elgi Equipments and Kirloskar Pneumatic.

According to Nitin Patkar, a research analyst at ValueNotes, ''The industrial compressors industry in India is dependent on the growth in the cement, steel, oil & gas and power industries. Many projects in these industries are in the pipeline expecting to receive clearances in the next five years.''

He added, ''There will be an emergence of waste heat and geo thermal energy in India. As a result, the industrial compressors industry will see a noticeable growth in the near future.''

Screw compressors have a major market share of industrial compressors, and they will continue to dominate in the future as well. Centrifugal compressors, the next generation compressors, are expected to witness the highest growth as they are more energy efficient and have a noise-free operation. They are expected to contribute to 38% of the market.

45% of the total value of industrial compressors sold in India is imported. Germany, USA and China are the top exporters to India.

 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Apollo Tyres launches cross-ply rib tyre for steer axles in CVs - 12-Apr-2021 18:40
Shri Bajrang Alliance donates 200 Oximeters to prevent Covid-19 situation in Raipur - 12-Apr-2021 18:25
Salora International board approves to sell property in UP - 12-Apr-2021 13:56
Ratnamani Metals & Tubes wins order worth Rs 5,940 mn - 12-Apr-2021 13:21
Kalpataru Power arm secures orders worth Rs 12.62 bn - 12-Apr-2021 13:07
Natco Pharma gets tentative approval for Ibrutinib Tablets - 12-Apr-2021 12:43
Praj Industries to set up largest capacity syrup-based ethanol plant in Karnataka - 12-Apr-2021 12:06
MMC partners Ramco Systems to digitally transform five ports - 12-Apr-2021 09:21
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer