Gas Compressors Market Projected to Reach $2.29 Billion by 2031

The global gas compressors market is expected to expand from USD 1.98 billion in 2026 to USD 2.29 billion by 2031, growing at a compound annual growth rate of 2.97%. The market size was estimated at USD 1.92 billion in 2025.

Growth in the market is primarily driven by increased natural gas consumption, leading to more production and transmission projects. Discoveries of new natural gas reserves, particularly offshore, and favorable natural gas prices are also contributing factors.

However, the market faces competition from the growing penetration of renewable energy sources, which could potentially reduce the demand for natural gas in certain applications.

The midstream sector, responsible for gas transmission pipelines and storage, is anticipated to maintain its dominant position. Continuous growth in natural gas consumption and planned infrastructure developments, including new pipeline and LNG projects, will likely sustain demand for gas compressors in this segment.