North America Compressor Market Projected to Grow at 3.8% CAGR
Mordor Intelligence forecasts the North America compressor market to grow at a Compound Annual Growth Rate (CAGR) of 3.8% through 2030. The oil and gas sector is a key driver for this expansion.
The North America compressor market is projected to expand at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period of 2025-2030, according to Mordor Intelligence. The growth is largely attributed to increasing demand from the oil and gas industry.
The United States is expected to dominate the market due to its substantial oil and gas refining capacity. Furthermore, the extraction of shale gas reserves in Canada and Mexico is anticipated to create future opportunities, as compressors are essential for gas transportation.
The oil and gas sector represents the largest end-user segment for compressors, with applications spanning production, storage, transportation, and cooling. The growing liquefied natural gas (LNG) export from the region also contributes positively to the market's trajectory.
However, the increasing adoption of renewable energy sources, which do not require compressors, could pose a restraint. The market, which was negatively impacted by the COVID-19 pandemic due to lockdowns and industry slowdowns, has now reportedly reached pre-pandemic levels.