1. gas compressor industry overview

Gas compressor is a kind of equipment that transports gas from low pressure to high pressure. It is widely used in oil and gas, electric power, manufacturing, chemical and petrochemical industries. According to the different principles of compression, gas compressors can be divided into two categories: positive displacement compressors and power compressors. The positive displacement compressor can be divided into reciprocating compressor, screw compressor, roller compressor and so on. Power compressor can be divided into centrifugal compressor, axial flow compressor and so on.

The main applications of gas compressors in the oil and gas industry include:

Upstream sector: used for gas lift, reinjection, pressurization, gas collection, etc., to improve the production and recovery of oil and gas fields.

Midstream sector: for natural gas pipeline transmission,LNGReceiving stations and storage and transportation stations, etc., to ensure a stable supply of natural gas.

Downstream sector: used for the compression of raw gas or product gas in refining, petrochemical, chemical and other processes to improve production efficiency and product quality.

The application of gas compressors in the power industry mainly includes:

Gas turbine power generation: used to compress fuel gas (such as natural gas) to the required high pressure as the power source of the gas turbine.

Coal-fired power generation: used to compress air or other working fluids (such as water vapor) to the required high pressure as a power source for coal-fired boilers or supercritical carbon dioxide cycles.

The application of gas compressor in manufacturing industry mainly includes:

Air compressor: used to compress air to the required high pressure, as a power source or medium for various tools, equipment or systems.

Process gas compressor: used to compress the special gases involved in various processes (such as carbon monoxide, carbon dioxide, nitric oxide, sulfur dioxide, etc.) to the required high pressure as reaction raw materials or products.

2.2023Market Size Forecast of Gas Compressor Industry in

According to data from the Shangpu Consulting Group, due to the outbreak of the new coronary pneumonia epidemic and the implementation of prevention and control measures, the market size of China's air compressor industry has been greatly impacted.2020In 2010, enterprises above the scale of the air compressor industry achieved sales revenue520Billions of yuan, down year-on-year8.1%. With the continuous improvement of domestic and foreign market demand and the promotion of technological innovation in the industry, the market scale of China's air compressor industry will continue to maintain a high growth rate. According to data from the Champ Consulting Group,2021In 2010, enterprises above the scale of the air compressor industry achieved sales revenue670Billion yuan, year-on-year growth28.8%。2022In 2010, enterprises above the scale of the air compressor industry achieved sales revenue745Billion yuan, year-on-year growth11.2%。

Outlook2023Throughout the year, the market size of China's air compressor industry will be affected by the following factors:

State policy support and investment in natural gas infrastructure has contributed to the expansion of natural gas pipeline networks andLNGThe construction of the receiving station has increased the demand for gas compressors. According to China Natural Gas Development“fourteen five”Planning,2025The total length of China's natural gas pipelines will reach16.5Ten thousand kilometers,LNGThe total installed capacity of the receiving station will reach1.2billion cubic meters/day.

Technological innovation and exploration and development in the oil and gas industry have increased the production and recovery of oil and gas fields, and increased the application of gas compressors in the upstream, midstream and downstream sectors. According to the 14th Five-Year Plan for the Development of China's Petroleum and Chemical Industry,2025The country's oil and gas equivalent production will reach4.2More than 100 million tons of standard coal.

The recovery and development of manufacturing, chemical and petrochemical industries have driven the demand for air compressors, process gas compressors and other products, and improved the technical level and product quality of the gas compressor industry. According to the 14th Five-Year Plan for the High-Quality Development of China's Manufacturing Industry,2025In, China's manufacturing value added accountedGDPThe specific gravity will reach28%Left and right.

The innovation ability and market expansion ability of gas compressor manufacturers meet the individual needs of different customers and improve market competitiveness and profitability by developing new products and technologies that are energy-saving, environmentally friendly, intelligent, efficient and reliable. For example, Atlas Copco launchedZSeries oil-free screw compressors have the advantages of low noise, low vibration and low maintenance cost.

Combined analysis of the above factors, it is expected that2023The market size of China's air compressor industry will maintain a high growth rate throughout the year, reaching11%Left and right. According to data from the Champ Consulting Group, it is expected that2023For the whole year, the air compressor industry enterprises above designated size achieved sales revenue830Billion yuan, year-on-year growth11.4%. According to the size of the air compressor in the gas compressor market.90%The proportion of estimated, expected2023The market size of China's gas compressor industry will reach2300About 100 million yuan.

3.2023Analysis on Growth Power of Gas Compressor Industry in

Policy Support and Investment of Natural Gas Infrastructure Construction in 3.1 Countries

Natural gas is a clean, efficient and low-carbon energy, which is an important direction of energy structure adjustment and optimization in China. In order to promote the development of the natural gas industry, the state has issued a series of policies and measures to support and guide the investment and operation of natural gas infrastructure construction. For example:

"Several Opinions on Accelerating the Utilization of Natural Gas": Proposed2020In, natural gas consumption reached3600100 million cubic meters, accounting for the proportion of primary energy consumption reached10%The goal is to accelerate the construction and improvement of the natural gas pipeline network.LNGKey tasks such as receiving station layout and strengthening the construction of gas storage facilities.

Guiding Opinions on Promoting the Market-Oriented Reform of Natural Gas: proposed2020In 2007, a market-led natural gas price formation mechanism with effective government supervision was basically formed, and reform measures such as improving the operation and management of the pipeline network, promoting the fair opening of pipeline network facilities, and encouraging social capital to participate in the construction of the pipeline network were clarified.

Opinions on Accelerating the Construction of Oil and Gas Pipeline Network Facilities: proposed2025In the year, a safe and efficient oil and gas pipeline network system covering the whole country, connecting domestic and foreign countries, was formed, and the work requirements for accelerating the construction of cross-regional trunk pipeline network, improving the urban gas distribution network, and strengthening the construction of oil and gas reserve capacity were clarified.

According to these policy guidance, the national and local governments and related enterprises have increased their investment and efforts in the construction of natural gas infrastructure. According to data from the Champ Consulting Group,2019The total length of China's oil and gas pipelines reached12.4Ten thousand kilometers, of which natural gas pipeline8.6thousands of miles;LNGThe installed capacity of the receiving station reaches7.6billion cubic meters/day; the working volume of the underground gas storage reaches142billion cubic meters.2020In 2010, China completed the construction and commissioning of a number of major natural gas infrastructure projects, such as the China-Russia East Route Natural Gas Pipeline and the Central Asia Natural Gas Pipeline.DChina-Pakistan Economic CorridorLNGprojects, etc.

The construction and operation of these natural gas infrastructure projects provide a broad market space for gas compressors. In the process of natural gas pipeline transportation, due to friction resistance, terrain changes and other factors, the gas pressure in the pipeline will drop, affecting the transmission efficiency and safety. Therefore, it is necessary to set up a gas compressor station along the pipeline to recompress the transmitted gas, compensate for the pressure loss, and ensure the stability and reliability of the transmission. InLNGGas compressors are also required in receiving and storage stations.LNGGasification, pressurization, peak shaving and other processing to meet the needs of different users. According to data from the Champ Consulting Group,2022In 2010, the market size of gas compressors for natural gas pipeline transportation in China reached100billion yuan,LNGThe market size of gas compressors for receiving stations and storage and transportation stations reaches25Billions of dollars.

Expected2023Throughout the year, with the continuous increase of national policy support and investment in natural gas infrastructure construction, China's natural gas pipeline network will be further expanded,LNGReceiving stations and storage and transportation stations will be further improved, and the demand for gas compressors in these areas will further increase. According to data from the Champ Consulting Group, it is expected that2023Throughout the year, the market size of gas compressors for natural gas pipeline transportation in China will reach100billion yuan,LNGThe market size of gas compressors for receiving stations and storage and transportation stations will reach30Billions of dollars.

Technology innovation and exploration and development in the 3.2 oil and gas industry

Oil and natural gas is not only an important part of China's energy consumption, but also an important support for China's economic and social development. In order to ensure the security and stability of oil and natural gas supply, the state and relevant enterprises have continuously increased their investment and efforts in technological innovation and exploration and development of the oil and natural gas industry. For example:

Opinions on Accelerating the Revolution in Oil and Gas Exploration and Development2025In 2002, it achieved a major breakthrough in oil and gas exploration and development, and defined the objectives of strengthening technological innovation in oil and gas exploration and development, improving the degree of exploration of oil and gas resources, and increasing effective oil and gas reserves.

Guidance on promoting the high-quality development of oil and gas reserves: proposed2025In 2002, a pattern of oil and gas reserves and production was formed, with large oil fields as the main body, small and medium-sized oil fields as supplements, and emerging fields as breakthroughs, and key tasks such as accelerating regular oil and gas exploration and development, actively carrying out unconventional oil and gas exploration and development, and strengthening offshore oil and gas exploration and development were defined.

Guidance on promoting the high-quality development of the offshore oil engineering equipment industry: proposed2025In 2002, a number of offshore oil engineering equipment enterprises with international competitiveness were built, and major measures such as strengthening technological innovation of offshore oil engineering equipment, enhancing manufacturing capacity of offshore oil engineering equipment and expanding the offshore oil engineering equipment market were identified.

According to these policies, the state and relevant enterprises have made a series of technological innovation and exploration and development achievements in the oil and gas industry. For example:

In 2020, PetroChina achieved a breakthrough in ultra-deep well drilling in the Tarim Basin, setting a record for the deepest well on land, reaching8828It provides technical support for the exploration and development of deep gas reservoirs in the Tarim Basin.

In 2020, CNOOC successfully exploited the first shale oil well in the Bohai Sea, achieving a major breakthrough in offshore shale oil exploration and development, providing a new opportunity for the development and utilization of shale oil resources in the Bohai Sea.

In 2021, China Petrochemical Corporation successfully tested the first shale gas well in the Sichuan Basin, achieving a major breakthrough in the exploration and development of shale gas in the Sichuan Basin, and providing new impetus for the development and utilization of shale gas resources in the Sichuan Basin.

The results of these technological innovations and exploration and development provide a broad application scenario for gas compressors. In the upstream sector of oil and gas, gas compressors can be used for gas lift, reinjection, pressurization, gas gathering, etc., to increase the production and recovery of oil and gas fields. In the oil and gas midstream sector, gas compressors can be used for natural gas pipeline transportation,LNGReceiving stations and storage and transportation stations, etc., to ensure a stable supply of natural gas. In the downstream sector of oil and gas, gas compressors can be used to compress raw gas or product gas in refining, petrochemical, chemical and other processes to improve production efficiency and product quality. According to data from the Champ Consulting Group,2019In 2010, the market size of gas compressors for China's oil and gas industry was approximately200Billions of dollars.

Expected2023With the country's technological innovation and exploration and development of the oil and gas industry, China's oil and gas equivalent production will further increase, the types of oil and gas resources will be more diversified, oil and gas exploration and development areas will be more extensive, and the application of gas compressors in these fields will further increase. According to data from the Champ Consulting Group, it is expected that2023Throughout the year, the market size of gas compressors for China's oil and gas industry will reach250Billions of dollars.

3.3 the recovery and development of industries such as manufacturing, chemicals and petrochemicals

Manufacturing, chemical and petrochemical industries are an important part of China's national economy and an important support for China's economic and social development. In order to promote the recovery and development of these industries, the state has issued a series of policies and measures to support and guide these industries to upgrade their technical level, optimize product structure, expand market space, and enhance competitiveness. For example:

Guidance on Promoting High-Quality Development in Manufacturing: proposed2025In, manufacturing value added accountedGDPSpecific gravity reaches28%It also clarified the main tasks of accelerating the digitalization, networking, and intelligent transformation and upgrading of the manufacturing industry, and improving the innovation capabilities and quality and efficiency levels of the manufacturing industry.

Guiding Opinions on Promoting the High-Quality Development of the Petroleum and Chemical Industries:2025In, the value added of the petroleum and chemical industries accountedGDPSpecific gravity reaches7%It also clarified the main goals of accelerating the green development, innovative development, and coordinated development of the petroleum and chemical industries.

"Guiding Opinions on Promoting the Transformation and Upgrading of Petrochemical Industry": Put forward2025In the year, the value added of the petrochemical industry accountedGDPSpecific gravity reaches4%The main measures such as accelerating the restructuring of the petrochemical industry, technological innovation, energy conservation and emission reduction were clarified.

According to these policy guidelines, the state and related enterprises have achieved a series of recovery and development results in the manufacturing, chemical and petrochemical industries. For example:

China's manufacturing value added declined year-on-year due to the new coronary pneumonia epidemic2.3%However, with the orderly progress of epidemic prevention and control and economic recovery, the manufacturing industry gradually returned to normal production and operation activities, and achieved value added throughout the year.31.3Trillion yuan, accountingGDPof27.2%。

In 2022, the overall economic operation of China's petroleum and chemical industry (excluding oil and gas extraction) will be stable. The industry realizes added value5.1Trillion yuan, year-on-year growth6.6%, accountedGDPof4.1%. Among them, the value added of chemical raw materials and chemical products manufacturing increased year-on-year.6.6%, total profit7302.6Billions of yuan, down year-on-year8.7%Oil refining, synthetic resin, synthetic rubber and other industries achieved positive growth, and the output of ethylene, polyethylene, polypropylene and other products remained stable.

In 2022, China's manufacturing value added increased year-on-year.5.9%, accountedGDPof26.8%. Among them, the growth of equipment manufacturing, high-tech manufacturing, strategic emerging manufacturing and other fields has slowed down, showing the difficulties and challenges of manufacturing transformation and upgrading.

The results of these recovery and development have provided a broad application demand for gas compressors. In the manufacturing industry, gas compressors are mainly used to compress air to the required high pressure as a power source or medium for various tools, equipment or systems. In the chemical and petrochemical industries, gas compressors are mainly used to compress special gases involved in various processes (such as carbon monoxide, carbon dioxide, nitric oxide, sulfur dioxide, etc.) to the required high pressure as reaction raw materials or products. According to data from the Champ Consulting Group,2022In 2010, the market size of China's air compressor industry reached2498.4Billion yuan, of which the manufacturing air compressor market size is about1500Billion yuan, accounting60%The market size of gas compressors for petrochemical and chemical industries is about100Billion yuan, accounting4%。

Expected2023With the continuous increase of national policy support and guidance for manufacturing, chemical and petrochemical industries, the technical level, product structure, market space and competitiveness of these industries will be further improved, and the application demand of gas compressors in these fields will further increase. According to data from the Champ Consulting Group, it is expected that2023Throughout the year, China's manufacturing air compressor market size will reach250The market size of process gas compressors for chemical and petrochemical industries will reach70Billions of dollars.

4.2023Analysis on Competition Pattern of Gas Compressor Industry in

4.1 Gas Compressor Industry Concentration Analysis

The gas compressor industry is a technology-intensive, capital-intensive, market-dispersed industry with high entry barriers and strong professionalism. There are many kinds of gas compressor products, and different types of products have different technical requirements and market demand. Therefore, the competition pattern of gas compressor industry also shows the characteristics of diversification and differentiation.

According to different compression principles, gas compressors can be divided into two categories: positive displacement compressors and power compressors. The positive displacement compressor can be divided into reciprocating compressor, screw compressor, roller compressor and so on. Power compressor can be divided into centrifugal compressor, axial flow compressor and so on. According to different applications, gas compressors can be divided into gas compressors for natural gas pipeline transportation,LNGGas compressors for receiving stations and storage and transportation stations, gas compressors for the oil and gas industry, air compressors for manufacturing, and process gas compressors for chemical and petrochemical industries.

From the perspective of the volumetric compressor market, due to the relative maturity of the volumetric compressor technology, the high degree of product homogeneity, and the fierce market competition, the concentration of the volumetric compressor market is low. According to data from the Champ Consulting Group,2022In 2010, the market size of China's volumetric compressors was approximately370The total market share of the top ten enterprises is about45%. Among them, the enterprises that occupy a large market share are Atlas.·Copco (Atlas Copco), Ingersoll Rand (Ingersoll Rand), Coleman (Kaishan), Han Zhong (Hanshin), Eaton (Eaton), etc.

From the perspective of the power compressor market, due to the relatively advanced power compressor technology, a high degree of product differentiation, and relatively mild market competition, the power compressor market is highly concentrated. According to data from the Champ Consulting Group,2022In, China's power compressor market reached300The market concentration is low, and the total market share of the top ten enterprises is about30%. Among them, the enterprises that occupy a large market share are Atlas.·Copco (Atlas Copco), Ingersoll Rand (Ingersoll Rand), Siemens Energy (Siemens Energy), Baker Hughes (Baker Hughes), Sulzer (Sulzer), etc.

From the perspective of different application areas, due to the different technical requirements and market demand for gas compressors in different application areas, the concentration of the gas compressor market in different application areas is also different. According to the data of Shangpu Consulting Group, the market size and concentration of gas compressors in different application areas in China are as follows:

The market size of gas compressors for natural gas pipeline transportation is approximately80The total market share of the top ten enterprises is about90%. Among them, the enterprises that occupy a large market share are Siemens, General Electric, Mitsubishi Heavy Industries, Adrian, MAN.·Diesel·Tulbo et al.

The market size of gas compressors for LNG terminals and storage and transportation stations is approximately20The total market share of the top ten enterprises is about80%. Among them, the enterprises that occupy a large market share are Siemens, General Electric, Mitsubishi Heavy Industries, Adrian, MAN.·Diesel·Tulbo et al.

The market size of gas compressors for the oil and gas industry is approximately200The total market share of the top ten enterprises is about60%. Among them, the enterprises that occupy a large market share are Atlas.·Copco, Ingersoll Rand, Coleman, Hanbell, Eaton, etc.

The market size of air compressors for manufacturing is approximately200The total market share of the top ten enterprises is about40%. Among them, the enterprises that occupy a large market share are Atlas.·Copco, Ingersoll Rand, Coleman, Hanbell, Eaton, etc.

The market size of process gas compressors for chemical and petrochemical industries is approximately50The total market share of the top ten enterprises is about50%. Among them, the enterprises that occupy a large market share are Siemens, General Electric, Mitsubishi Heavy Industries, Adrian, MAN.·Diesel·Tulbo et al.

In summary, it can be seen that China's gas compressor industry as a whole presents the characteristics of low concentration, but in different types and different application areas of the market segment, the concentration is different. Generally speaking, the higher the level of technology and the higher the degree of product differentiation, the higher the concentration of the market segment.

Competitive Strategy Analysis of 4.2 Gas Compressor Industry

In the face of fierce market competition and changing customer needs, gas compressor manufacturers have adopted the following competitive strategies:

Technological innovation strategy: By increasing R & D investment and introducing international advanced technology, we will develop new products and technologies that are energy-saving, environmentally friendly, intelligent, efficient and reliable, meet the individual needs of different customers, and improve product added value and competitive advantage. For example, Atlas Copco launchedZSeries oil-free screw compressor, with low noise, low vibration, low maintenance costs and other advantages;STC-SVSeries centrifugal compressor, with high efficiency, high reliability, high flexibility and other advantages.

Market expansion strategy: By strengthening market research and analysis, understanding market demand and changes, opening up new market areas and regions, expanding market share and coverage, and improving market influence and brand awareness. For example, Ingersoll Rand, through the acquisition of a U.Cameron International, enteredLNGThe gas compressor market for receiving stations and storage and transportation stations; Coman has entered the gas compressor market for the oil and gas industry through cooperation with large domestic oil and gas companies such as PetroChina and Sinopec.

Service improvement strategy: By strengthening pre-sales, in-sales, and after-sales services, providing customized, integrated, and comprehensive service solutions to meet the different needs and expectations of customers, improve customer satisfaction and loyalty, and enhance customer stickiness and reputation. For example, Mitsubishi Heavy Industries, through the establishment of a global service network, provides24Hourly online service, remote monitoring and diagnosis, spare parts supply and other services ensure the stable and safe operation of customers' equipment; Ailian helps customers improve the efficiency and life of equipment by providing services such as maintenance, technical training, and performance improvement.

5.2023Analysis of Challenges and Opportunities for Gas Compressor Industry in

Challenges for the 5.1 gas compressor industry

The proportion of renewable energy in the energy structure is increasing, and the substitution of traditional energy is becoming more and more obvious, which brings a certain threat to the application of gas compressor in the power industry. As the country attaches great importance to the adjustment and optimization of the energy structure, the proportion of renewable energy (such as wind energy, solar energy, hydropower, etc.) in the energy structure continues to increase, and the substitution of traditional energy (such as coal, oil, natural gas, etc.) The role is increasingly apparent. According to data from the Champ Consulting Group,2022In the year, China's renewable energy generation reached2.7Trillions of kilowatt-hours, accounting for the electricity consumption of the whole society.31.6%, of which wind power generation reached6.87Billion kilowatt-hours, accounting for the electricity consumption of the whole society.8.19%; solar power generation reached5.12Billion kilowatt-hours, accounting for the electricity consumption of the whole society.6.06%. These renewable energy power generation methods are less or not dependent on gas compressors, so they pose a certain threat to the application of gas compressors in the power industry.

The uncertainty and complexity of the domestic and foreign market environment, such as international trade frictions, crude oil price fluctuations, epidemic prevention and control, etc., have a certain impact on the production and operation of the gas compressor industry and market demand. Since the gas compressor industry is closely related to the domestic and foreign market environment, changes in any link or factor may have an impact on the gas compressor industry. For example, international trade frictions may lead to problems such as reduced export orders, increased tariff costs, and exchange rate fluctuations; fluctuations in crude oil prices may lead to changes in investment income in the oil and gas industry, adjustments in the pace of exploration and development, and delays or cancellations of project construction; epidemic prevention and control may lead to problems such as blocked production and operation activities, difficulties in logistics and transportation, and declining market demand. These problems may have a certain impact on the production and operation of the gas compressor industry and market demand, increasing the risk and uncertainty of the gas compressor industry.

Gas compressor industry concentration is low, the market competition is fierce, the degree of product homogeneity is high, there is a price war between enterprises, low-end competition and other phenomena, affecting the healthy development of the industry. Due to the high entry threshold of the gas compressor industry, but the technical level and product quality are uneven, the concentration of the gas compressor industry is low and the market competition is fierce. Especially in the volumetric compressor market, due to the high degree of product homogeneity, there is a price war between enterprises, low-end competition and other phenomena, resulting in a decline in product profit margins, product quality decline, market disorder and other issues, affecting the healthy development of the gas compressor industry.

Opportunities for the 5.2 gas compressor industry

The integration of the gas compressor industry with new technologies such as digitalization, intelligence and networking has been continuously improved, bringing new opportunities for the transformation, upgrading and innovative development of the industry. With the rapid development and wide application of new technologies such as digitalization, intelligence and networking, the gas compressor industry is constantly exploring the integration and innovation with these new technologies, bringing new opportunities for the transformation, upgrading and innovative development of the industry. For example, through the use of Internet of Things, big data, cloud computing and other technologies, the functions of remote monitoring, intelligent diagnosis, predictive maintenance and other functions of gas compressors are realized to improve the operating efficiency and safety of gas compressors; through the use of artificial intelligence, machine learning, In-depth learning and other technologies, automatic adjustment, adaptive optimization, autonomous learning and other functions of the gas compressor are realized to improve the operating performance and adaptability of the gas compressor;5GIndustrial Internet, edge computing and other technologies to achieve real-time communication, collaboration, distributed processing and other functions of gas compressors to improve the operational flexibility and reliability of gas compressors.

The combination of gas compressor industry and new energy, new materials, new technology and other new fields is constantly improving, which brings new opportunities for the industry to expand new markets and new applications. With the rapid development and wide application of new energy, new materials, new processes and other new fields, the gas compressor industry is also constantly exploring the combination and innovation with these new fields, bringing new opportunities for the industry to expand new markets and new applications. For example, in the field of new energy, gas compressors can be used in hydrogen production equipment, fuel cells, energy storage systems, etc., to provide support for the development and utilization of clean energy; in the field of new materials, gas compressors can be used in carbon fiber, graphene, In the production process of nanomaterials, etc., it provides guarantee for the manufacture of high-performance materials; in the field of new processes, gas compressors can be used in the application of supercritical fluids, ultrasound, lasers, provide conditions for the realization of high efficiency process.